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CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
 12 Months Ended
Dec. 31, 2020
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
Under the terms of the agreements with certain of our workers' compensation and health benefit insurance carriers, we are required to maintain collateral in trust accounts for the benefit of specified insurance carriers and to reimburse the carriers’ claim payments within our deductible layer. We invest a portion of the collateral amounts in marketable securities. We report the current and noncurrent portions of these trust accounts as restricted cash, cash equivalents and investments on the consolidated balance sheets.
We require our clients to prefund their payroll and related taxes and other withholding liabilities before payroll is processed or due for payment. This prefund is included in restricted cash, cash equivalents and investments as payroll funds collected, which is designated to pay pending payrolls, payroll tax liabilities and other payroll withholdings.
We also invest available corporate funds, primarily in fixed income securities which meet the requirements of our corporate investment policy and are classified as available for sale (AFS).
Our total cash, cash equivalents and investments are summarized below:
December 31, 2020December 31, 2019
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securities
Certificate
of
deposits
Total
Cash and cash equivalents$301 $— $301 $213 $— $— $213 
Investments— 57 57 — 68 — 68 
Restricted cash, cash equivalents and investments
Payroll funds collected1,228 — 1,228 1,018 — — 1,018 
Collateral for health benefits claims16 82 98 98 — — 98 
Collateral for workers' compensation claims
60 — 60 62 — — 62 
Other security deposits
2 — 2 2 — — 2 
Total restricted cash, cash equivalents and investments
1,306 82 1,388 1,180 — — 1,180 
Investments, noncurrent— 138 138 — 125 — 125 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims36 174 210 63 148 1 212 
Total$1,643 $451 $2,094 $1,456 $341 $1 $1,798