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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 360 $ 287
Investments 0 65
Restricted cash, cash equivalents and investments 1,413 1,269
Accounts receivable, net 32 18
Payroll funds receivable 349 447
Prepaid expenses, net 64 67
Other payroll assets 916 381
Other current assets 46 44
Total current assets 3,180 2,578
Restricted cash, cash equivalents and investments, noncurrent 145 158
Investments, noncurrent 0 143
Property and equipment, net 10 17
Operating lease right-of-use asset 24 24
Goodwill 461 462
Software and other intangible assets, net 156 172
Other assets 143 139
Total assets 4,119 3,693
Current liabilities:    
Accounts payable and other current liabilities 89 87
Revolving credit agreement borrowings 75 109
Client deposits and other client liabilities 76 65
Accrued wages 580 515
Accrued health insurance costs, net 189 175
Accrued workers' compensation costs, net 44 50
Payroll tax liabilities and other payroll withholdings 1,906 1,438
Operating lease liabilities 13 14
Insurance premiums and other payables 9 10
Total current liabilities 2,981 2,463
Long-term debt, noncurrent 908 984
Accrued workers' compensation costs, noncurrent, net 110 120
Deferred taxes 11 13
Operating lease liabilities, noncurrent 26 30
Other non current liabilities 14 5
Total liabilities 4,050 3,615
Commitments and contingencies (see Note 9)
Stockholders' equity:    
Preferred stock, ($0.000025 par value per share; 750,000,000 shares authorized; 49,611,791 and 50,664,471 shares issued and outstanding at December 31, 2024 and 2023, respectively) 0 0
Common stock, ($0.000025 par value per share; 750,000,000 shares authorized; 49,611,791 and 50,664,471 shares issued and outstanding at December 31, 2024 and 2023, respectively) 1,056 976
Retained earnings (Accumulated deficit) (984) (896)
Accumulated other comprehensive loss (3) (2)
Total stockholders' equity 69 78
Total liabilities & stockholders' equity $ 4,119 $ 3,693