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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 667 $ 693
Restricted cash 61 57
Marketable securities 16 16
Accounts receivable, net 724 694
Prepaid insurance and related assets 37 7
Funds held for clients and other current assets 114 128
Total current assets 1,619 1,595
Property and equipment, net of accumulated depreciation 191 197
Right-of-use (“ROU”) leased assets 56 57
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 204 198
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 6 20
Other assets 20 23
Total assets 2,126 2,120
Current liabilities:    
Accounts payable 6 11
Payroll taxes and other payroll deductions payable 489 566
Accrued worksite employee payroll cost 622 559
Accrued health insurance costs 71 46
Accrued workers’ compensation costs 64 60
Accrued corporate payroll and commissions 55 64
Income taxes payable 15 3
Other accrued liabilities 84 127
Total current liabilities 1,406 1,436
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 155 163
Long-term debt 369 369
Operating lease liabilities, net of current 56 58
Total noncurrent liabilities 580 590
Commitments and contingencies
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 172 185
Treasury stock, at cost (826) (831)
Retained earnings 793 739
Total stockholders’ equity 140 94
Total liabilities and stockholders’ equity $ 2,126 $ 2,120