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CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
 3 Months Ended
Mar. 31, 2025
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 condensed 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:
March 31, 2025December 31, 2024
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$349 $— $349 $360 $— $360 
Restricted cash, cash equivalents and investments:
Payroll funds collected726 — 726 1,131 1,131 
Collateral for health benefits claims33 113 146 34 110 144 
Collateral for workers' compensation claims50 — 50 49 — 49 
Trust for our HRIS Users101 — 101 87 — 87 
Other security deposits1 — 1 2 — 2 
Total restricted cash, cash equivalents and investments911 113 1,024 1,303 110 1,413 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims24 110 134 28 117 145 
Total$1,284 $223 $1,507 $1,691 $227 $1,918