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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 355 $ 338 $ 272
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 101 82 67
Stock based compensation 62 50 43
Amortization of ROU asset, lease modification, impairment, and abandonment 25 12 15
Accretion of discount rate on lease liabilities 2 2 2
Provision for doubtful accounts 2 0 0
Amortization of (premium) discount on investments 1 3 1
Deferred income taxes (22) (9) (42)
Losses from disposition of assets 6 0 0
Losses and impairment on investments 18 0 0
Changes in operating assets and liabilities:      
Accounts receivable, net 0 3 (7)
Unbilled revenue, net (51) (78) 39
Prepaid expenses, net (2) (5) (12)
Other payroll assets (72) 10 (17)
Accounts payable and other current liabilities (13) 33 19
Client deposits and other client liabilities 9 (37) 87
Accrued wages 65 60 (82)
Accrued health insurance costs, net 0 2 5
Accrued workers' compensation costs, net (8) (7) (9)
Payroll taxes payable and other payroll withholdings 158 (166) 194
Operating lease liabilities (17) (13) (19)
Other assets (55) (60) (21)
Other liabilities (2) (2) 11
Net cash provided by operating activities 562 218 546
Investing activities      
Purchases of marketable securities (410) (444) (327)
Proceeds from sale and maturity of marketable securities 469 349 224
Acquisitions of property and equipment (56) (40) (36)
Acquisitions of subsidiaries, net of cash acquired (229) 0 (12)
Net cash used in investing activities (226) (135) (151)
Financing activities      
Repurchase of common stock (523) (94) (178)
Proceeds from issuance of common stock 11 11 10
Awards effectively repurchased for required employee withholding taxes (24) (26) (18)
Proceeds from issuance of 2029 Notes 0 500 0
Repayment of borrowings 0 (370) (22)
Payment of long-term financing costs 0 (9) 0
Draw down from revolving credit facility 0 0 234
Repayment of borrowings under revolving credit facility 0 0 (234)
Net cash provided by (used in) financing activities (536) 12 (208)
Effect of exchange rate changes on cash and cash equivalents (1) 0 0
Net increase (decrease) in cash and cash equivalents, unrestricted and restricted (201) 95 187
Cash and cash equivalents, unrestricted and restricted:      
Beginning of period 1,738 1,643 1,456
End of period 1,537 1,738 1,643
Supplemental disclosures of cash flow information      
Interest paid 18 12 16
Income taxes paid, net 128 129 123
Supplemental schedule of noncash investing and financing activities      
Payable for purchase of property and equipment 6 3 2
Acquisitions of subsidiaries paid in stock $ 17 $ 0 $ 0