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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income $ 272 $ 212 $ 192
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 67 57 46
Stock based compensation 43 41 44
Amortization of ROU asset 14 16 0
Lease modification and impairment 1 0 0
Accretion of discount rate on lease liabilities 2 0 0
Amortization of (premium) discount of investments 1 (1) 0
Deferred income taxes (42) (7) 1
Changes in operating assets and liabilities:      
Accounts receivable, net (7) 5 10
Unbilled revenue, net 39 19 (14)
Prepaid expenses, net (12) (5) (9)
Accounts payable and other current liabilities 19 (15) (8)
Client deposits and other client liabilities 87 (12) 4
Accrued wages (82) 40 23
Accrued health insurance costs, net 5 32 (16)
Accrued workers' compensation costs, net (9) (20) (7)
Payroll taxes payable and other payroll withholdings 194 172 (305)
Operating lease liabilities (19) (17) 0
Other assets (38) (34) (64)
Other liabilities 11 (12) (1)
Net cash (used in) provided by operating activities 546 471 (104)
Investing activities      
Purchases of marketable securities (327) (302) (258)
Proceeds from sale and maturity of marketable securities 224 159 101
Acquisitions of property and equipment (36) (45) (43)
Other (12) 0 0
Net cash used in investing activities (151) (188) (200)
Financing activities      
Repurchase of common stock (178) (140) (61)
Proceeds from issuance of common stock 10 11 14
Awards effectively repurchased for required employee withholding taxes (18) (25) (22)
Proceeds from revolving credit agreement borrowings 234 0 0
Proceeds from issuance of notes payable, net 0 0 210
Payments for extinguishment of debt 0 0 (204)
Repayment of borrowings under revolving credit facility (234) 0 0
Repayment of debt (22) (22) (22)
Net cash used in financing activities (208) (176) (85)
Net (decrease) increase in cash and cash equivalents, unrestricted and restricted 187 107 (389)
Beginning of period 1,456 1,349 1,738
End of period 1,643 1,456 1,349
Supplemental disclosures of cash flow information      
Interest paid 16 19 17
Income taxes paid, net 123 62 49
Supplemental schedule of noncash investing and financing activities      
Payable for purchase of property and equipment $ 2 $ 2 $ 3