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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 551 $ 1,039
Restricted cash 74 69
Marketable securities 17 16
Accounts receivable, net 834 829
Prepaid insurance and related assets 56 25
Income taxes receivable 8 0
Funds held for clients and other current assets 114 107
Total current assets 1,654 2,085
Property and equipment, net of accumulated depreciation 186 192
Right-of-use (“ROU”) leased assets 67 65
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 171 178
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 10 34
Other assets 25 13
Total assets 2,143 2,597
Current liabilities:    
Accounts payable 8 10
Payroll taxes and other payroll deductions payable 457 901
Accrued worksite employee payroll cost 718 730
Accrued health insurance costs 68 19
Accrued workers’ compensation costs 76 71
Accrued corporate payroll and commissions 49 82
Income taxes payable 0 18
Client funds liability and other accrued liabilities 90 99
Total current liabilities 1,466 1,930
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 122 135
Long-term debt 369 369
Operating lease liabilities, net of current 67 66
Total noncurrent liabilities 558 570
Commitments and contingencies
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 209 222
Treasury stock, at cost (855) (864)
Retained earnings 764 738
Total stockholders’ equity 119 97
Total liabilities and stockholders’ equity $ 2,143 $ 2,597