Stockholders' Equity

12 Months Ended

Jan. 01, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

9. Stockholders’ Equity

Common Stock

The authorized capital stock of the Company is 100,000,000 shares of Class A common stock and 10,000,000 shares of Class B common stock. Class A shares have no voting rights and are not convertible. Class B shares have voting rights and are convertible by the holder into Class A shares on a share-for-share basis at any time. Both classes of stock have identical rights in the event of liquidation.

Class A shares and Class B shares are both entitled to receive dividends, subject to the limitation that no cash dividend on the Class B shares may be declared unless the Board of Directors declares an equal or larger cash dividend on the Class A shares. As a result, a cash dividend may be declared on the Class A shares without declaring a cash dividend on the Class B shares.

During 2011, the Company made dividend payments totaling $3.8 million.

On May 11, 2010, the Company sold 1,576,169 shares of Kelly’s Class A common stock to Temp Holdings. The shares were sold in a private transaction at $15.42 per share, which was the average of the closing prices of the Class A common stock for the five days from May 3, 2010 through May 7, 2010, and represented 4.8 percent of the outstanding Class A shares after the completion of the sale. As part of this transaction, Kelly added a representative of Temp Holdings to Kelly’s Board of Directors.

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income at year-end 2011 and 2010 were as follows:

	2011			2010
	(in millions of dollars)
Cumulative translation adjustments, net of tax benefit of $2.7 million in 2011 and $2.1 million in 2010	$	19.3		$	28.9
Unrealized gain on marketable securities		0.5			2.6
Pension liability, net of tax benefit of $0.1 million in 2011 and $0.2 million in 2010		(3.6	)		(2.5	)
	$	16.2		$	29.0