v3.26.1
Unaudited Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 198.0 $ 370.0
Accounts receivable 53.5 44.9
Prepaid expenses 53.6 47.5
Inventory 1.7 1.7
Income tax receivable 3.4 78.2
Deferred contract costs 166.8 159.5
Current assets before funds held for clients 476.8 701.8
Funds held for clients 3,006.1 5,137.0
Total current assets 3,482.9 5,838.8
Property and equipment, net 644.7 687.3
Intangible assets, net 30.6 37.4
Goodwill 51.9 51.9
Long-term deferred contract costs 871.3 857.4
Operating lease right-of-use assets 79.4 89.4
Other assets 41.5 36.5
Total assets 5,202.4 7,598.7
Current liabilities:    
Accounts payable 7.6 6.6
Accrued commissions and bonuses 24.9 28.2
Accrued payroll and vacation 46.6 60.1
Deferred revenue 30.8 28.3
Operating lease liabilities 28.8 28.4
Accrued expenses and other current liabilities 98.6 79.8
Current liabilities before client funds obligation 237.2 231.4
Client funds obligation 3,005.8 5,137.0
Total current liabilities 3,243.1 5,368.4
Deferred income tax liabilities, net 305.1 304.4
Long-term deferred revenue 122.1 121.9
Long-term operating lease liabilities 54.0 61.9
Long-term debt 900.0  
Other long-term liabilities 6.6 10.6
Total long-term liabilities 1,387.9 498.8
Total liabilities 4,630.9 5,867.2
Commitments and contingencies (Note 12 "Commitments and Contingencies")
Stockholders' equity:    
Common stock, $0.01 par value (100.0 shares authorized, 64.0 and 63.6 shares issued at June 30, 2026 and December 31, 2025, respectively; 44.3 and 54.8 shares outstanding at June 30, 2026 and December 31, 2025, respectively) 0.6 0.6
Additional paid-in capital 904.7 878.4
Retained earnings 2,484.0 2,255.6
Accumulated other comprehensive earnings (loss) (0.5) 0.3
Treasury stock, at cost (19.7 and 8.8 shares at June 30, 2026 and December 31, 2025, respectively) (2,817.4) (1,403.4)
Total stockholders’ equity 571.5 1,731.5
Total liabilities and stockholders’ equity $ 5,202.4 $ 7,598.7