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Assets Held for Sale | 12 Months Ended
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Dec. 29, 2019
Assets Held for Sale [Abstract] |
Assets Held for Sale | Assets Held for SaleUpon approval of the Company's board of directors, Kelly Properties, LLC, a wholly owned subsidiary of the Company, entered into an agreement on December 4, 2019 to sell three headquarters properties in Troy, Michigan. Accordingly, during the fourth quarter of 2019, the transaction met the criteria to classify the properties as held for sale. The properties held for sale include the parcels of land, together with all rights and easements, in addition to all improvements located on the land, including buildings. Assets held for sale are recorded at the lower of their carrying value or fair value less estimated costs to sell and depreciation is suspended on assets upon classification to held for sale. The combined net carrying amount of the properties held for sale as of year-end 2019 is $21.2 million, which is less than the sales price in the purchase agreement, less costs to sell. The proceeds of the sale are expected to be approximately $51 million, net of taxes and transaction expenses. The Company has presented these assets as current assets held for sale on the consolidated balance sheet as of year-end 2019, as the properties will be sold in the first quarter of 2020 per terms of the purchase agreement. The main headquarters building included in the sale will be leased back.

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