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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 251 $ 287
Investments 50 65
Restricted cash, cash equivalents and investments 780 1,269
Accounts receivable, net 15 18
Unbilled revenue, net 511 447
Prepaid expenses, net 64 67
Other payroll assets 883 381
Other current assets 51 44
Total current assets 2,605 2,578
Restricted cash, cash equivalents and investments, noncurrent 153 158
Investments, noncurrent 145 143
Property and equipment, net 14 17
Operating lease right-of-use asset 30 24
Goodwill 462 462
Software and other intangible assets, net 179 172
Other assets 141 139
Total assets 3,729 3,693
Current liabilities:    
Accounts payable and other current liabilities 82 87
Revolving credit agreement borrowings 75 109
Client deposits and other client liabilities 39 65
Accrued wages 566 515
Accrued health insurance costs, net 193 175
Accrued workers' compensation costs, net 44 50
Payroll tax liabilities and other payroll withholdings 1,420 1,438
Operating lease liabilities 15 14
Insurance premiums and other payables 6 10
Total current liabilities 2,440 2,463
Long-term debt, noncurrent 993 984
Accrued workers' compensation costs, noncurrent, net 107 120
Deferred taxes 18 13
Operating lease liabilities, noncurrent 30 30
Other non-current liabilities 12 5
Total liabilities 3,600 3,615
Commitments and contingencies
Stockholders' equity:    
Preferred stock 0 0
Common stock and additional paid-in capital 1,037 976
Accumulated deficit (910) (896)
Accumulated other comprehensive loss 2 (2)
Total stockholders' equity 129 78
Total liabilities & stockholders' equity $ 3,729 $ 3,693