v3.26.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 619 $ 642
Restricted cash 81 82
Marketable securities 0 18
Accounts receivable, net 878 826
Prepaid insurance and related assets 57 6
Income taxes receivable 26 29
Funds held for clients and other current assets 106 119
Total current assets 1,767 1,722
Property and equipment, net of accumulated depreciation 170 177
Right-of-use (“ROU”) leased assets 57 63
Prepaid health insurance 9 9
Deposits – health insurance 8 8
Deposits workers compensation 160 148
Goodwill and other intangible assets, net 13 13
Deferred income taxes, net 0 22
Other assets 50 41
Total assets 2,234 2,203
Current liabilities:    
Accounts payable 10 6
Payroll taxes and other payroll deductions payable 534 544
Accrued worksite employee payroll cost 760 764
Accrued health insurance costs 61 30
Accrued workers’ compensation costs 83 84
Accrued corporate payroll and commissions 54 78
Client funds liability and other accrued liabilities 85 114
Total current liabilities 1,587 1,620
Noncurrent liabilities:    
Accrued workers’ compensation costs, net of current 103 102
Long-term debt 419 369
Operating lease liabilities, net of current 59 66
Deferred Income Tax Liabilities, Net 5 0
Total noncurrent liabilities 586 537
Commitments and contingencies
Stockholders’ equity:    
Common stock 1 1
Additional paid-in capital 255 257
Treasury stock, at cost (824) (850)
Retained earnings 629 638
Total stockholders’ equity 61 46
Total liabilities and stockholders’ equity $ 2,234 $ 2,203