XML 21 R10.htm IDEA: XBRL DOCUMENT
v3.21.2

WORKERS' COMPENSATION INSURANCE AND RESERVES | 6 Months Ended
--- | ---
Jun. 27, 2021
Workers' Compensation Insurance and Reserves [Abstract] |
WORKERS' COMPENSATION INSURANCE AND RESERVES | WORKERS’ COMPENSATION INSURANCE AND RESERVESWe provide workers’ compensation insurance for our associates and permanent employees. The majority of our current workers’ compensation insurance policies cover claims for a particular event above a $2.0 million deductible limit, on a “per occurrence” basis. This results in our being substantially self-insured. Our workers’ compensation reserve for claims below the deductible limit is discounted to its estimated net present value using discount rates based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred. The weighted average discount rate was 1.7% and 1.8% at June 27, 2021 and December 27, 2020, respectively. Payments made against self-insured claims are made over a weighted average period of approximately 5.5 years as of June 27, 2021. The following table presents a reconciliation of the undiscounted workers’ compensation reserve to the discounted workers’ compensation reserve for the periods presented:
(in thousands) | June 27, 2021 | December 27, 2020
Undiscounted workers’ compensation reserve | $ | 271,837 |  | $ | 273,502 |
Less discount on workers’ compensation reserve | 16,942 |  | 18,009 |
Workers’ compensation reserve, net of discount | 254,895 |  | 255,493 |
Less current portion | 60,032 |  | 66,007 |
Long-term portion | $ | 194,863 |  | $ | 189,486 |
Payments made against self-insured claims were $22.4 million and $28.0 million for the twenty-six weeks ended June 27, 2021 and June 28, 2020, respectively. Our workers’ compensation reserve includes estimated expenses related to claims above our self-insured limits (“excess claims”), and we record a corresponding receivable for the insurance coverage on excess claims based on the contractual policy agreements we have with insurance carriers. We discount this reserve and corresponding receivable to its estimated net present value using the discount rates based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred. At June 27, 2021 and December 27, 2020, the weighted average rate was 1.4% and 1.3%, respectively. The claim payments are made and the corresponding reimbursements from our insurance carriers are received over an estimated weighted average period of approximately 17 years. The discounted workers’ compensation reserve for excess claims was $58.6 million and $54.0 million, as of June 27, 2021 and December 27, 2020, respectively. The discounted receivables from insurance companies, net of valuation allowance, were $57.2 million and $52.9 million as of June 27, 2021 and December 27, 2020, respectively. Workers’ compensation cost consists primarily of changes in self-insurance reserves net of changes in discount, monopolistic jurisdictions’ premiums, insurance premiums and other miscellaneous expenses. Workers’ compensation cost of $9.3 million and $9.2 million was recorded in cost of services on our Consolidated Statements of Operations and Comprehensive Income (Loss) for the thirteen weeks ended June 27, 2021 and June 28, 2020, respectively, and $19.4 million and $23.5 million for the twenty-six weeks ended June 27, 2021 and June 28, 2020, respectively.

X
- Definition Workers' Compensation Insurance and Reserves [Abstract] + References No definition available. + Details
Name: | tbi_WorkersCompensationInsuranceAndReservesAbstract
Namespace Prefix: | tbi_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of insurance and reserve information pertaining to worker’s compensation. + References No definition available. + Details
Name: | tbi_WorkersCompensationInsuranceAndReservesTextBlock
Namespace Prefix: | tbi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration