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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 470 $ 693
Restricted cash 67 57
Marketable securities 16 16
Accounts receivable, net 765 694
Prepaid insurance and related assets 31 7
Funds held for clients and other current assets 84 128
Total current assets 1,433 1,595
Property and equipment, net of accumulated depreciation 190 197
Right-of-use (“ROU”) leased assets 66 57
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 175 198
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 19 20
Other assets 20 23
Total assets 1,933 2,120
Current liabilities:    
Accounts payable 6 11
Payroll taxes and other payroll deductions payable 297 566
Accrued worksite employee payroll cost 650 559
Accrued health insurance costs 46 46
Accrued workers’ compensation costs 70 60
Accrued corporate payroll and commissions 79 64
Income taxes payable 8 3
Client funds liability and other accrued liabilities 77 127
Total current liabilities 1,233 1,436
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 140 163
Long-term debt 369 369
Operating lease liabilities, net of current 66 58
Total noncurrent liabilities 575 590
Commitments and contingencies
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 208 185
Treasury stock, at cost (853) (831)
Retained earnings 769 739
Total stockholders’ equity 125 94
Total liabilities and stockholders’ equity $ 1,933 $ 2,120