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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 676 $ 693
Restricted cash 64 57
Marketable securities 16 16
Accounts receivable, net 740 694
Prepaid insurance and related assets 34 7
Funds held for clients and other current assets 91 128
Total current assets 1,621 1,595
Property and equipment, net of accumulated depreciation 186 197
Right-of-use (“ROU”) leased assets 55 57
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 170 198
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 15 20
Other assets 18 23
Total assets 2,095 2,120
Current liabilities:    
Accounts payable 7 11
Payroll taxes and other payroll deductions payable 504 566
Accrued worksite employee payroll cost 627 559
Accrued health insurance costs 42 46
Accrued workers’ compensation costs 67 60
Accrued corporate payroll and commissions 59 64
Income taxes payable 5 3
Client funds liability and other accrued liabilities 72 127
Total current liabilities 1,383 1,436
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 146 163
Long-term debt 369 369
Operating lease liabilities, net of current 55 58
Total noncurrent liabilities 570 590
Commitments and contingencies
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 191 185
Treasury stock, at cost (838) (831)
Retained earnings 788 739
Total stockholders’ equity 142 94
Total liabilities and stockholders’ equity $ 2,095 $ 2,120