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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 441 $ 1,039
Restricted cash 76 69
Marketable securities 15 16
Accounts receivable, net 843 829
Prepaid insurance and related assets 41 25
Income taxes receivable 11 0
Funds held for clients and other current assets 90 107
Total current assets 1,517 2,085
Property and equipment, net of accumulated depreciation 182 192
Right-of-use (“ROU”) leased assets 66 65
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 174 178
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 22 34
Other assets 27 13
Total assets 2,018 2,597
Current liabilities:    
Accounts payable 6 10
Payroll taxes and other payroll deductions payable 366 901
Accrued worksite employee payroll cost 716 730
Accrued health insurance costs 57 19
Accrued workers’ compensation costs 79 71
Accrued corporate payroll and commissions 52 82
Income taxes payable 0 18
Client funds liability and other accrued liabilities 81 99
Total current liabilities 1,357 1,930
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 113 135
Long-term debt 369 369
Operating lease liabilities, net of current 67 66
Total noncurrent liabilities 549 570
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 228 222
Treasury stock, at cost (853) (864)
Retained earnings 736 738
Total stockholders’ equity 112 97
Total liabilities and stockholders’ equity $ 2,018 $ 2,597