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CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
 6 Months Ended
Jun. 30, 2023
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:
June 30, 2023December 31, 2022
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$482 $— $482 $354 $— $354 
Investments— 69 69 — 76 76 
Restricted cash, cash equivalents and investments:
Payroll funds collected875 — 875 1,062 — 1,062 
Collateral for health benefits claims31 110 141 29 110 139 
Collateral for workers' compensation claims55 — 55 58 — 58 
Other security deposits3 — 3 4 — 4 
Total restricted cash, cash equivalents and investments964 110 1,074 1,153 110 1,263 
Investments, noncurrent— 146 146 — 151 151 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims24 130 154 27 123 150 
Other security deposits3 — 3 3 — 3 
Total$1,473 $455 $1,928 $1,537 $460 $1,997