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COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of workers’ compensation collateral commitments

We have provided our insurance carriers and certain states with commitments in the form and amounts listed below:

(in thousands)			June 30, 2024			December 31, 2023
Cash collateral held by workers’ compensation insurance carriers			$	18,030		$	17,737
Cash and cash equivalents held in Trust			5,816			12,703
Investments held in Trust			113,268			122,659
Letters of credit (1)			6,077			6,077
Surety bonds (2)			20,725			20,725
Total collateral commitments			$	163,916		$	179,901

(1)We have agreements with certain financial institutions to issue letters of credit as collateral.

(2)Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days’ notice.

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Tabular disclosure of information about obligations resulting from other commitments.

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