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CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
 12 Months Ended
Dec. 31, 2024
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, for PEO customers, as well as amounts held by our statutory trust for our HRIS Users, 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 AFS.
Our total cash, cash equivalents and investments are summarized below:
December 31, 2024December 31, 2023
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$360 $— $360 $287 $— $287 
Investments— — — — 65 65 
Restricted cash, cash equivalents and investments
Payroll funds collected1,131 — 1,131 1,067 — 1,067 
Collateral for health benefits claims34 110 144 31 113 144 
Collateral for workers' compensation claims49 — 49 54 2 56 
Trust for our HRIS Users87 — 87 — — — 
Other security deposits2 — 2 2 — 2 
Total restricted cash, cash equivalents and investments1,303 110 1,413 1,154 115 1,269 
Investments, noncurrent— — — — 143 143 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims28 117 145 25 133 158 
Other security deposits— — — — — — 
Total$1,691 $227 $1,918 $1,466 $456 $1,922