v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 173 $ 156
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 53 50
Amortization of deferred costs 39 36
Amortization of ROU asset, lease modification, impairment, and abandonment 6 5
Deferred income taxes (2) (3)
Stock based compensation 50 48
Other 9 4
Changes in operating assets and liabilities:    
Accounts receivable, net 1 1
Prepaid expenses, net 26 14
Other assets (34) (30)
Accounts payable and other liabilities 9 0
Client deposits and other client liabilities (2) (1)
Accrued wages (8) (15)
Accrued workers' compensation costs, net (3) 0
Payroll taxes liabilities and other payroll withholdings (1) (12)
Operating lease liabilities 1 (11)
Net cash provided by operating activities 317 242
Investing activities    
Purchases of marketable securities (151) (59)
Proceeds from sale and maturity of marketable securities 78 82
Acquisitions of property and equipment and software (74) (51)
Proceeds from sale of business 0 1
Acquisition of subsidiary, net of cash acquired (22) 0
Net cash used in investing activities (169) (27)
Financing activities    
Change in WSE and TriNet Trust related assets and liabilities, net (529) (303)
Repurchase of common stock (94) (122)
Proceeds from issuance of common stock 5 6
Awards effectively repurchased for required employee withholding taxes (10) (12)
Repayment of revolving credit agreement borrowings 0 (90)
Dividends paid (40) (39)
Net cash used in financing activities (668) (560)
Net change in cash and cash equivalents, unrestricted and restricted (520) (345)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,902 1,691
End of period 1,382 1,346
Supplemental disclosures of cash flow information    
Interest paid 48 51
Income taxes paid, net 17 27
Supplemental schedule of noncash investing and financing activities    
Cash dividend declared, but not yet paid 13 13
Payable for purchase of property and equipment 3 3
Receivable from sale of business $ 0 $ 6