Financial Analysis

Note LCommitments and Contingencies On March 23, 2015, Plaintiff Jessica Gentry, on her own behalf and on behalf of a putative class of allegedly similarly situated individuals, filed a complaint against the Company in the Superior Court of California, San Francisco County, which was subsequently amended on October 23, 2015. The complaint alleges that a putative class of current and former employees of the Company who resided in California, were denied compensation for the time they spent interviewing for temporary and permanent employment opportunities as well as performing activities related to the interview process. The class period runs from March 13, 2010, to present. Gentry seeks recovery on her own behalf and on behalf of the putative class in an unspecified amount for this allegedly unpaid compensation. Gentry also seeks recovery of an unspecified amount for the alleged failure of the Company to provide her and the putative class with accurate wage statements. Gentry also seeks an unspecified amount of other damages, attorneys fees and statutory penalties, including penalties for allegedly not paying all wages due upon separation and civil penalties on behalf of herself and other allegedly aggrieved employees as defined by Californias Labor Code Private Attorney General Act (PAGA). On January 4, 2016, the Court denied a motion by the Company to compel all of Gentrys claims, except the PAGA claim, to individual arbitration. On March 8, 2024, the Court issued an order c …

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The following table presents the Companys revenues disaggregated by functional specialization and segments (in thousands): Year Ended December 31, 2025 2024 2023 Contract talent solutions Finance and accounting $ 2,207,152 $ 2,454,119 $ 2,811,093 Administration and customer support 642,939 741,468 816,409 Technology 625,179 634,062 710,156 Elimination of intersegment revenues (a) (485,187) (471,777) (442,326) Total contract talent solutions 2,990,083 3,357,872 3,895,332 Permanent placement talent solutions 439,500 487,204 567,486 Protiviti 1,948,923 1,950,761 1,929,699 Total service revenues $ 5,378,506 $ 5,795,837 $ 6,392,517 (a) Service revenues for finance and accounting, administrative and customer support, and technology include intersegment revenues, which represent revenues from services provided to the Companys Protiviti segment in connection with the Companys blended business solutions. Intersegment revenues for each functional specialization are aggregated and then eliminated as a single line. …

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Note NStock Plans Under various stock plans, officers, employees and outside directors have received or may receive grants of restricted stock, stock units, stock appreciation rights or options to purchase common stock. Grants have been made at the discretion of the Committees of the Board of Directors. Grants generally vest either on a straight-line basis over four years or on a cliff basis over three years. Shares offered under the plan are authorized but unissued shares. Recipients of restricted stock do not pay any cash consideration to the Company for the shares and have the right to vote all shares subject to such grant. Restricted stock grants contain forfeitable rights to dividends. Dividends for these grants are accrued on the dividend payment dates but are not paid until the shares vest, and dividends accrued for shares that ultimately do not vest are forfeited. Recipients of stock units do not pay any cash consideration for the units, do not have the right to vote and do not receive dividends with respect to such units. During the year ended December 31, 2025, the Company granted performance shares to its executives in the form of restricted stock. The shares granted contain (1) a performance condition based on Return on Invested Capital (ROIC), and (2) a market condition based on Total Shareholder Return (TSR). The ROIC performance condition and the TSR market condition measure the Companys performance against a peer group. Shares will be delivered at the end of a …

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Note KIncome Taxes The provision for income taxes for the years ended December 31, 2025, 2024 and 2023, consisted of the following (in thousands): Year Ended December 31, 2025 2024 2023 Current: Federal $ 15,402 $ 76,083 $ 108,825 State 7,884 28,090 38,365 Foreign 14,080 20,400 34,885 Deferred: Federal 21,264 (10,674) (12,276) State 7,087 (3,838) (3,990) Foreign (4,355) (3,988) (372) $ 61,362 $ 106,073 $ 165,437 Income before the provision for income taxes for the years ended December 31, 2025, 2024 and 2023, consisted of the following (in thousands): Year Ended December 31, 2025 2024 2023 U.S. $ 200,201 $ 332,547 $ 485,291 Foreign (5,849) 25,124 91,292 $ 194,352 $ 357,671 $ 576,583 The income taxes shown above varied from the statutory federal income tax rates for these periods as follows (in thousands, except for percentages): Year Ended December 31, 2025 2024 2023 $ % $ % $ % U.S. federal statutory tax rate $ 40,814 21.0 % $ 75,111 21.0 % $ 121,082 21.0 % State and local income taxes, net of federal tax effect (a) 11,190 5.8 18,137 5.1 27,354 4.7 Foreign tax effects 9,418 4.9 8,695 2.4 14,039 2.4 Effect of cross-border tax laws Foreign-derived intangible income (2,058) (1.1) (2,219) (0.6) (1,628) (0.3) Other (1,498) (0.8) (1,669) (0.5) (254) 0.0 Tax credits Work opportunity tax credits (4,850) (2.5) (4,110) (1.1) (5,121) (0.9) Other tax credits (500) (0.2) (500) (0.1) (500) (0.1) Nontaxable or nondeductible items Compensation book/tax differences 4,899 2.5 6,303 1.8 7,734 …

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Note FLeases The Company has operating leases for corporate and field offices, and certain equipment. The Companys leases have remaining lease terms of less than one year to 11 years, some of which include options to extend the leases for up to seven years, and some of which include options to terminate the leases within one year. Operating lease expense was $79.1 million, $82.5 million and $89.0 million for the years ended December 31, 2025, 2024 and 2023, respectively. Supplemental cash flow information related to leases consisted of the following (in thousands): Year Ended December 31, 2025 2024 2023 Cash paid for operating lease liabilities $ 79,915 $ 91,143 $ 94,633 Right-of-use assets obtained in exchange for new operating lease liabilities $ 75,613 $ 78,613 $ 91,762 Supplemental balance sheet information related to leases consisted of the following: Year Ended December 31, 2025 2024 2023 Weighted average remaining lease term for operating leases 4.6 years 4.6 years 4.3 years Weighted average discount rate for operating leases 4.2 % 3.9 % 3.2 % Future minimum lease payments under noncancelable leases as of December 31, 2025, were as follows (in thousands): 2026 $ 79,286 2027 59,736 2028 44,995 2029 32,942 2030 22,317 Thereafter 34,217 Less: Imputed interest (27,955) Present value of operating lease liabilities (a) $ 245,538 (a) Includes current portion of $69.8 million for operating leases. As of December 31, 2025, the Company had additional future minimum lease obligat …

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Recently Adopted Accounting Pronouncements Income Tax Disclosures . In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Under this ASU, public filers must disclose annually (1) specific categories in the rate reconciliation, and (2) provide additional information for reconciling items that meet a quantitative threshold, if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate. The new guidance is effective for public filers for annual periods beginning after December 15, 2024. The Company adopted the new guidance for the 2025 Form 10-K annual filing retrospectively, resulting in additional disclosures to the Companys income tax footnote. The impact of the adoption did not effect the Companys operating results, cash flows, or financial position. Recently Issued Accounting Pronouncements Not Yet Adopted Income Statement Disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement, Reporting Comprehensive Income, Expense Disaggregation Disclosures (Subtopic 220-40). This ASU requires disclosure of disaggregated information about specific categories underlying certain income statement expense line items in the notes to the financial statements. This guidance is effective for public filers for annual periods beginn …

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Note CRevenue Recognition The Company derives its revenues from three segments: contract talent solutions, permanent placement talent solutions, and Protiviti. Revenues are recognized when promised goods or services are delivered to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Service revenues, as presented on the Consolidated Statements of Operations, represent services rendered to customers less variable consideration, such as sales adjustments and allowances. Reimbursements, including those related to travel and out-of-pocket expenses, are also included in service revenues, and equivalent amounts of reimbursable expenses are included in costs of services. Contract talent solutions revenues. Contract talent solutions revenues from contracts with customers are recognized in the amount to which the Company has a right to invoice when the services are rendered by the Companys engagement professionals. The substantial majority of engagement professionals placed on assignment by the Company are the Companys legal employees while they are working on assignments. The Company pays all related costs of employment, including workers compensation insurance, state and federal unemployment taxes, social security and certain fringe benefits. The Company assumes the risk of acceptability of its employees to its customers. The Company records contract talent solutions revenue on a gross basis as a prin …

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Note PBusiness Segments The Company has three reportable segments: contract talent solutions, permanent placement talent solutions and Protiviti. Operating segments are defined as components of the Company for which separate financial information is evaluated regularly by the chief operating decision maker (CODM), a position currently held by the Companys Chief Executive Officer, in deciding how to allocate resources and assess performance. The contract talent solutions reportable segment results from the aggregation of three operating segments with similar economic and qualitative characteristics: finance and accounting, administrative and customer support, and technology. The contract talent solutions and permanent placement talent solutions segments provide specialized engagement professionals and full-time personnel, respectively, for finance and accounting, technology, marketing and creative, legal, and administrative and customer support roles. The Protiviti segment provides business and technology risk consulting and internal audit services. The CODM uses segment income to evaluate performance and allocate resources to each segment. Segment income excludes interest income, income taxes and the impacts of the income from investments held in employee deferred compensation trusts, along with the related compensation costs and expenses. The CODM considers variances between actual results and expectations as well as historical trends for segment income when making decisions …

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Note ASummary of Significant Accounting Policies Nature of Operations. Robert Half Inc. (the Company) is a specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. Robert Half offers contract talent solutions and permanent placement talent solutions for finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and provides executive search services. Robert Half is also the parent company of Protiviti , a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. The Company operates in North America, South America, Europe, Asia and Australia. The Company is a Delaware corporation. Basis of Presentation. The Consolidated Financial Statements (Financial Statements) of the Company are prepared in conformity with accounting principles generally accepted (GAAP) in the United States of America (U.S.) and the rules of the Securities and Exchange Commission (SEC). Certain reclassifications have been made to prior years consolidated financial statements to conform to the 2024 presentation. Principles of Consolidation. The Financial Statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates. The preparation of financial statements in conformity with GAAP requires man …

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Note MStockholders Equity Stock Repurchase Program. As of December 31, 2025, the Company is authorized to repurchase, from time to time, up to 5.6 million additional shares of the Companys common stock on the open market or in privately negotiated transactions, depending on market conditions. The number and the cost of common stock shares repurchased during the years ended December 31, 2025, 2024 and 2023, are reflected in the following table (in thousands): Year Ended December 31, 2025 2024 2023 Common stock repurchased (in shares) 1,702 3,507 3,047 Common stock repurchased $ 79,589 $ 248,437 $ 231,578 Additional stock repurchases were made in connection with employee stock plans, whereby Company shares were tendered by employees for the payment of applicable statutory withholding taxes. The number and the cost of employee stock plan repurchases made during the years ended December 31, 2025, 2024 and 2023, are reflected in the following table (in thousands): Year Ended December 31, 2025 2024 2023 Repurchases related to employee stock plans (in shares) 193 297 331 Repurchases related to employee stock plans $ 10,977 $ 23,394 $ 25,868 The repurchased shares are held in treasury and are presented as if constructively retired. Treasury stock is accounted for using the cost method. Treasury stock activity for each of the three years ended December 31, 2025, 2024 and 2023 (consisting of purchase of shares for the treasury) is presented in the Consolidated Statements of Stockholder …

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Note QSubsequent Events On February 12, 2026, the Company announced the following: Quarterly dividend per share $0.59 Declaration date February 12, 2026 Record date February 25, 2026 Payment date March 13, 2026 …

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