XML 30 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 250 $ 164
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 49 41
Amortization of ROU 12 14
Accretion of discount rate on lease liabilities 2 0
Stock based compensation 31 29
Changes in operating assets and liabilities:    
Accounts receivable, net 5 5
Unbilled revenue, net (90) (61)
Prepaid expenses, net (1) (17)
Accounts payable and other current liabilities 10 (16)
Client deposits and other client liabilities 163 (28)
Accrued wages 63 53
Accrued health insurance costs, net (7) 21
Accrued workers' compensation costs, net (2) (16)
Payroll taxes payable and other payroll withholdings (467) (340)
Operating lease liabilities (15) (13)
Other assets (46) (34)
Other liabilities 3 (13)
Net cash used in operating activities (40) (211)
Investing activities    
Purchases of marketable securities (278) (109)
Proceeds from sales and maturities of marketable securities 166 113
Acquisitions of property and equipment (27) (34)
Other (12) 0
Net cash used in investing activities (151) (30)
Financing activities    
Repurchase of common stock (135) (84)
Proceeds from issuance of common stock 5 6
Awards effectively repurchased for required employee withholding taxes (11) (14)
Proceeds from revolving credit agreement borrowings 234 0
Repayment of debt (16) (17)
Net cash provided by (used in) financing activities 77 (109)
Net decrease in cash and cash equivalents, unrestricted and restricted (114) (350)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,456 1,349
End of period 1,342 999
Supplemental disclosures of cash flow information    
Interest paid 11 15
Income taxes paid, net 83 48
Supplemental schedule of noncash investing and financing activities    
Payable for purchase of property and equipment $ 1 $ 4