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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 177 $ 287
Investments 72 65
Restricted cash, cash equivalents and investments 893 1,269
Accounts receivable, net 15 18
Unbilled revenue, net 485 447
Prepaid expenses, net 76 67
Other payroll assets 800 381
Other current assets 48 44
Total current assets 2,566 2,578
Restricted cash, cash equivalents and investments, noncurrent 163 158
Investments, noncurrent 156 143
Property and equipment, net 14 17
Operating lease right-of-use asset 21 24
Goodwill 462 462
Software and other intangible assets, net 176 172
Other assets 145 139
Total assets 3,703 3,693
Current liabilities:    
Accounts payable and other current liabilities 85 87
Revolving credit agreement borrowings 84 109
Client deposits and other client liabilities 70 65
Accrued wages 558 515
Accrued health insurance costs, net 182 175
Accrued workers' compensation costs, net 43 50
Payroll tax liabilities and other payroll withholdings 1,421 1,438
Operating lease liabilities 13 14
Insurance premiums and other payables 7 10
Total current liabilities 2,463 2,463
Long-term debt, noncurrent 984 984
Accrued workers' compensation costs, noncurrent, net 107 120
Deferred taxes 13 13
Operating lease liabilities, noncurrent 24 30
Other non-current liabilities 12 5
Total liabilities 3,603 3,615
Commitments and contingencies (see Note 5)
Stockholders' equity:    
Preferred stock 0 0
Common stock and additional paid-in capital 1,021 976
Accumulated deficit (916) (896)
Accumulated other comprehensive loss (5) (2)
Total stockholders' equity 100 78
Total liabilities & stockholders' equity $ 3,703 $ 3,693