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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 85 $ 91
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization of intangible assets 17 18
Amortization of deferred costs 12 11
Amortization of ROU asset, lease modification, impairment, and abandonment 2 2
Deferred income taxes (1) 0
Stock based compensation 13 20
Losses on investments 1 0
Loss from disposition of assets 1 0
Other 1 1
Changes in operating assets and liabilities:    
Accounts receivable, net 1 (1)
Prepaid expenses, net 7 (14)
Other assets (6) (21)
Other payroll assets 0 3
Accounts payable and other liabilities (11) 24
Client deposits and other client liabilities 0 (4)
Accrued wages (17) (28)
Accrued health insurance costs, net 1 0
Accrued workers' compensation costs, net 2 0
Payroll taxes liabilities and other payroll withholdings (10) (7)
Operating lease liabilities (3) (4)
Net cash provided by operating activities 95 91
Investing activities    
Purchases of marketable securities (27) (95)
Proceeds from sale and maturity of marketable securities 34 66
Acquisitions of property and equipment and software (16) (18)
Proceeds from sale of business 1 0
Net cash used in investing activities (8) (47)
Financing activities    
Change in WSE and TriNet Trust related assets and liabilities, net (388) (213)
Repurchase of common stock (90) (23)
Awards effectively repurchased for required employee withholding taxes (4) (7)
Dividends paid (12) 0
Net cash used in financing activities (494) (243)
Net change in cash and cash equivalents, unrestricted and restricted (407) (199)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,691 1,466
End of period 1,284 1,267
Supplemental disclosures of cash flow information    
Interest paid 25 26
Income taxes paid, net 0 7
Supplemental schedule of noncash investing and financing activities    
Cash dividend declared, but not yet paid 13 13
Payable for purchase of property and equipment 1 3
Receivable from sale of business $ 6 $ 0