v3.26.3
Other Balance Sheet Information (Notes)
 9 Months Ended
Sep. 30, 2026
OtherBalanceSheetDisclosuresAbstract [Abstract]  
Other Balance Sheet Disclosures [Text Block]
3.
Other Balance Sheet Information
Cash, Cash Equivalents and Marketable Securities
The following table summarizes our cash and investments in cash equivalents and marketable securities held by investment managers and overnight investments:
September 30, 2026December 31, 2025
(in millions)Cash & Cash EquivalentsMarketable SecuritiesTotalCash & Cash EquivalentsMarketable SecuritiesTotal
Overnight holdings$518 $— $518 $638 $— $638 
Investment holdings79 — 79 22 18 40 
597 — 597 660 18 678 
Cash in demand accounts25 — 25 22 — 22 
Outstanding checks(23)— (23)(40)— (40)
Total$599 $— $599 $642 $18 $660 
Our cash and overnight holdings fluctuate based on the timing of clients’ payroll processing cycles. Our cash, cash equivalents and marketable securities at September 30, 2026 and December 31, 2025 included $426 million and $468 million, respectively, of funds associated with federal and state income tax withholdings, employment taxes, and other payroll deductions, as well as $54 million and $135 million, respectively, in client prepayments.
Cash, Cash Equivalents, Restricted Cash, Funds Held for Clients, and Deposits - Workers’ Compensation
The following table summarizes our cash, cash equivalents, restricted cash, funds held for clients, and deposits - workers’ compensation as reported in our Consolidated Statements of Cash Flows:
Nine Months Ended September 30,
(in millions)20262025
Supplemental schedule of cash and cash equivalents, restricted cash, funds held for clients, and deposits - workers’ compensation
Cash and cash equivalents$642 $1,039 
Restricted cash82 69 
Other current assets – funds held for clients(1)
73 58 
Deposits – workers’ compensation148 178 
Cash, cash equivalents, restricted cash, funds held for clients, and deposits - workers’ compensation beginning of period$945 $1,344 
Cash and cash equivalents$599 $422 
Restricted cash84 79 
Other current assets – funds held for clients(1)
44 40 
Deposits – workers’ compensation132 147 
Cash, cash equivalents, restricted cash, funds held for clients, and deposits - workers’ compensation end of period$859 $688 
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(1)Funds held for clients represent amounts held on behalf of our Traditional HR Solution customers that are restricted for the purpose of satisfying obligations to remit funds to clients’ employees and various tax authorities.
Please read Note 2. “Accounting Policies,” for a discussion of our accounting policies for deposits – workers’ compensation and restricted cash.