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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Assets        
Cash and cash equivalents $ 580,093 $ 732,828 $ 510,869 $ 575,812
Restricted cash 48,002 49,779    
Marketable securities 35,998 33,068    
Accounts receivable, net 605,065 622,764    
Prepaid insurance and related assets 22,747 11,706    
Income taxes receivable 11,588 0    
Other current assets 60,144 61,728    
Total current assets 1,363,637 1,511,873    
Property and equipment, net of accumulated depreciation 192,829 199,992    
Right-of-use (“ROU”) leased assets 52,165 56,532    
Prepaid health insurance 9,000 9,000    
Deposits – health insurance 7,900 7,900    
Deposits – workers’ compensation 180,982 196,370 166,077 185,027
Goodwill and other intangible assets, net 12,707 12,707    
Deferred income taxes, net 10,837 15,533    
Other assets 35,210 29,354    
Total assets 1,865,267 2,039,261    
Current liabilities:        
Accounts payable 6,807 7,732    
Payroll taxes and other payroll deductions payable 401,682 556,085    
Accrued worksite employee payroll cost 523,504 513,397    
Accrued health insurance costs 34,282 53,402    
Accrued workers’ compensation costs 51,451 53,485    
Accrued corporate payroll and commissions 49,437 89,147    
Income taxes payable 0 6,949    
Other accrued liabilities 68,521 73,173    
Total current liabilities 1,135,684 1,353,370    
Noncurrent liabilities:        
Accrued workers’ compensation costs 179,577 179,629 173,686  
Long-term debt 369,400 369,400    
Operating Lease, Liability, Noncurrent 50,087 55,587    
Total noncurrent liabilities 599,064 604,616    
Commitments and contingencies    
Stockholders’ equity:        
Common stock 555 555    
Additional paid-in capital 157,526 151,144    
Treasury stock, at cost (744,788) (725,532)    
Retained earnings 717,226 655,108    
Total stockholders’ equity 130,519 81,275 $ 35,132 $ (1,774)
Total liabilities and stockholders’ equity $ 1,865,267 $ 2,039,261