7Baggers
Quarterly
Annual
    Unit: USD2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 
      
    		                                
      operating activities
    		                                
      net income
    		69,000,000 77,000,000 91,000,000 101,000,000 22,000,000 33,000,000 126,000,000 91,000,000 48,000,000 55,000,000 46,000,000 63,000,000 29,000,000 51,000,000 58,000,000 54,000,000 66,476,000 42,836,000 39,951,000 28,737,000 22,966,000 14,581,000 12,282,000 11,577,000 14,095,000 3,097,000 -1,308,000 15,811,000 7,011,000 725,000 6,221,000 1,540,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                
      depreciation and amortization of intangible assets
    		                                
      amortization of deferred costs
    		                                
      amortization of rou asset, lease modification, impairment, and abandonment
    		                                
      stock based compensation
    		13,000,000 13,000,000 13,000,000 11,000,000 12,000,000 11,000,000 11,000,000 9,000,000 12,000,000                        
      accretion of discount rate on lease liabilities
    		0 1,000,000 0 1,000,000 0 1,000,000                           
      benefit from doubtful accounts
    		                                
      deferred income taxes
    		                    42,118,000    13,119,000 -142,000   16,662,000 24,904,000 864,000 1,412,000 
      losses from disposition of assets
    		                                
      losses and impairment on investments
    		                                
      impairment of intangibles
    		                                
      changes in operating assets and liabilities:
    		                                
      accounts receivable
    		-7,000,000 0 -3,000,000 13,000,000 -12,000,000 1,000,000   0 2,000,000 2,000,000 1,000,000                     
      prepaid expenses
    		5,000,000 -5,000,000 -10,000,000 5,000,000 -11,000,000 -3,000,000 5,000,000 -3,000,000 12,000,000 1,000,000 -6,000,000 -12,000,000                     
      other payroll assets
    		                                
      accounts payable and other current liabilities
    		14,000,000 -10,000,000 -4,000,000 33,000,000 9,000,000 -59,000,000 40,000,000 29,000,000 1,000,000 -5,000,000 -20,000,000 9,000,000 1,000,000 5,000,000 1,000,000 -15,000,000                 
      client deposits and other client liabilities
    		-23,000,000 -12,000,000 -19,000,000 17,000,000 -76,000,000 61,000,000                           
      accrued wages
    		-186,000,000 49,000,000 18,000,000 179,000,000 -145,000,000 43,000,000 -18,000,000 38,000,000 -13,000,000 28,000,000 8,000,000 17,000,000                     
      accrued health insurance costs
    		12,000,000 7,000,000 -10,000,000 -7,000,000 12,000,000 15,000,000 -20,000,000 -2,000,000 11,000,000 12,000,000                       
      accrued workers' compensation costs
    		-1,000,000 1,000,000   -7,000,000 0 -5,000,000 3,000,000 -4,000,000 -3,000,000 -11,000,000 -2,000,000                     
      payroll taxes payable and other payroll withholdings
    		362,000,000 -5,000,000 -97,000,000 -426,000,000 661,000,000 8,000,000 -141,000,000 -334,000,000 512,000,000 -84,000,000 -76,000,000 -180,000,000                     
      operating lease liabilities
    		-3,000,000 -4,000,000 -3,000,000 -3,000,000 -4,000,000 -5,000,000 -5,000,000 -5,000,000 -4,000,000 -4,000,000 -5,000,000 -4,000,000                     
      other assets
    		-16,000,000 -2,000,000 -8,000,000 -24,000,000 8,000,000 -14,000,000 -4,000,000 -28,000,000 0 -4,000,000 0 -30,000,000    -2,000,000 3,075,000 834,000 -57,000 148,000 -176,000 200,000 550,000 -312,000 58,000    -162,000 3,295,000 838,000 4,033,000 
      other liabilities
    		1,000,000 0 1,000,000 -4,000,000 8,000,000 0 1,000,000 2,000,000 1,000,000 -11,000,000 1,000,000 -3,000,000            15,205,000 -15,936,000 21,887,000 16,422,000 9,110,000 7,926,000 10,451,000 6,876,000 4,869,000 
      net cash from operating activities
    		234,000,000 174,000,000 -15,000,000 -175,000,000 586,000,000 90,000,000 152,000,000 -282,000,000 682,000,000 -49,000,000 -20,000,000 -142,000,000 372,000,000 67,000,000 -7,000,000 -536,000,000 94,049,000 54,838,000 28,209,000 75,904,000 66,424,000 35,144,000 2,066,000 40,898,000 26,078,000 59,343,000 31,060,000 14,118,000 54,857,000 45,324,000 23,320,000 30,337,000 
      capex
    		-11,000,000 -11,000,000 -13,000,000 -2,000,000 -8,000,000 -10,000,000 -11,000,000 -5,000,000 -13,000,000 -13,000,000 -10,000,000 -7,000,000 -9,000,000 -7,000,000 -14,000,000 -10,000,000 -450,000 -7,615,000 -10,643,000 -8,502,000 -12,248,000 -11,446,000 -9,761,000 -5,372,000 -3,534,000 -48,000 -918,000 1,034,000 464,000 -3,144,000 3,338,000 632,000 
      free cash flows
    		223,000,000 163,000,000 -28,000,000 -177,000,000 578,000,000 80,000,000 141,000,000 -287,000,000 669,000,000 -62,000,000 -30,000,000 -149,000,000 363,000,000 60,000,000 -21,000,000 -546,000,000 93,599,000 47,223,000 17,566,000 67,402,000 54,176,000 23,698,000 -7,695,000 35,526,000 22,544,000 59,295,000 30,142,000 15,152,000 55,321,000 42,180,000 26,658,000 30,969,000 
      investing activities
    		                                
      purchases of marketable securities
    		-96,000,000 -81,000,000 -185,000,000 -82,000,000 -49,000,000 -56,000,000 -67,000,000 -155,000,000 -193,000,000 -44,000,000 -35,000,000 -30,000,000 -35,000,000 -20,000,000                   
      proceeds from sale and maturity of marketable securities
    		117,000,000 83,000,000 65,000,000 84,000,000     46,000,000 48,000,000 34,000,000 31,000,000                     
      acquisitions of property and equipment and projects in process
    		                                
      acquisitions of subsidiaries, net of cash acquired
    		                                
      other investments
    		                                
      net cash from investing activities
    		10,000,000 -10,000,000 -132,000,000 -3,000,000 0 -30,000,000 -27,000,000 -94,000,000 -158,000,000 -5,000,000 -14,000,000 -11,000,000 -31,000,000 -3,000,000 -168,000,000 2,000,000 -9,237,000 -5,507,000 -2,408,000 -6,848,000 -9,711,000 -10,436,000 -1,368,000 -5,607,000 -4,478,000        
      financing activities
    		                                
      change in wse and trinet trust related assets and liabilities
    		                                
      repurchase of common stock
    		0 -20,000,000 -14,000,000 -60,000,000 -43,000,000 -35,000,000 -60,000,000 -40,000,000 -56,000,000 -22,000,000 -24,000,000 -38,000,000 -14,000,000 -17,000,000 -22,000,000 -8,000,000 -4,653,000 -9,837,000 -1,915,000 -27,595,000 -27,857,000 -27,288,000   576,000        
      proceeds from issuance of common stock
    		5,000,000 1,000,000   5,000,000 0      1,000,000                    218,859,000 
      payment of long-term financing costs and debt issuance costs
    		                                
      proceeds from issuance of 2031 notes
    		                                
      proceeds from revolving credit agreement borrowings
    		    0 0 0 234,000,000                         
      repayment of borrowings under revolving credit agreement
    		                                
      awards effectively repurchased for required employee withholding taxes
    		-13,000,000 -4,000,000 -4,000,000 -5,000,000 -7,000,000 -5,000,000 -3,000,000 -3,000,000 -11,000,000 -4,000,000 -6,000,000 -4,000,000 -7,000,000 -5,000,000 -6,000,000 -4,000,000 -2,900,000 -3,593,000 -2,520,000 -1,987,000 -1,473,000 -1,187,000 -829,000 -656,000         
      dividends paid
    		                                
      net cash from financing activities
    		-8,000,000 -23,000,000 -13,000,000 56,000,000 -285,000,000 -45,000,000 -63,000,000 185,000,000 -67,000,000 -32,000,000 -30,000,000 -47,000,000 -23,000,000 -26,000,000 -17,000,000 -19,000,000 -11,937,000 -19,922,000 -8,089,000 -37,052,000 -32,964,000 -30,880,000 -29,836,000 -5,691,000 -1,655,000       4,014,000 
      effect of exchange rate changes on cash and cash equivalents
    		                 235,000 117,000 46,000 -303,000 66,000 -136,000 160,000 -82,000        
      net increase in cash and cash equivalents, unrestricted and restricted
    		               -553,000,000                 
      cash and cash equivalents, unrestricted and restricted:
    		                                
      beginning of period
    		0 0 0 1,643,000,000 0 0 0 1,456,000,000 0 0 0 1,349,000,000 0 0 0 1,738,000,000                 
      end of period
    		236,000,000 141,000,000 -160,000,000 1,521,000,000 301,000,000 15,000,000 62,000,000 1,265,000,000 457,000,000 -86,000,000 -64,000,000 1,149,000,000 318,000,000 38,000,000 -192,000,000 1,185,000,000                 
      supplemental disclosures of cash flow information
    		                                
      interest paid
    		1,000,000 9,000,000 0 2,000,000 5,000,000 4,000,000 4,000,000 3,000,000 4,000,000 6,000,000 5,000,000 4,000,000 4,000,000 5,000,000 4,000,000 4,000,000 3,814,000 4,180,000 3,844,000 4,162,000             
      income taxes paid
    		46,000,000 38,000,000 43,000,000 2,000,000 40,000,000 77,000,000 5,000,000 1,000,000 14,000,000 15,000,000 32,000,000 1,000,000 16,000,000 9,000,000                   
      supplemental schedule of noncash investing and financing activities
    		                                
      cash dividend declared, but not yet paid
    		                                
      payable for purchase of property and equipment
    		 1,000,000 -1,000,000 3,000,000 1,000,000 -1,000,000 1,000,000 1,000,000 -2,000,000 -4,000,000 3,000,000 5,000,000 1,000,000 0 0 2,000,000 -450,000 870,000 -391,000 1,971,000 -540,000 -218,000 146,000 1,435,000 276,000 -48,000 -918,000 1,034,000 464,000 -3,144,000 3,338,000 632,000 
      acquisitions of subsidiaries paid in stock
    		                                
      unbilled revenue
    		-19,000,000 41,000,000 -6,000,000 -94,000,000 129,000,000 -23,000,000 28,000,000 -95,000,000 80,000,000 -25,000,000 -27,000,000 -9,000,000                     
      proceeds from issuance of 2029 notes
    		0 0 0 500,000,000                             
      repayment of borrowings
    		                                
      depreciation and amortization
    		19,000,000 18,000,000 26,000,000 19,000,000 18,000,000 17,000,000 17,000,000 15,000,000 16,000,000 14,000,000 9,000,000 18,000,000 10,000,000 12,000,000 14,000,000 10,000,000 8,823,000 9,681,000 8,373,000 8,123,000 11,365,000 9,891,000 9,173,000 8,746,000 10,258,000 14,257,000 13,561,000 14,741,000 16,649,000 28,684,000 17,042,000 22,028,000 
      amortization of (premium) discount on investments
    		                                
      acquisitions of property and equipment
    		-11,000,000 -12,000,000 -12,000,000 -5,000,000 -9,000,000 -9,000,000 -12,000,000 -6,000,000 -11,000,000 -9,000,000 -13,000,000 -12,000,000 -10,000,000 -7,000,000 -14,000,000 -12,000,000  -8,485,000 -10,252,000 -10,473,000             
      payment of long-term financing costs
    		                                
      draw down from revolving credit facility
    		                                
      repayment of borrowings under revolving credit facility
    		                                
      amortization of rou asset, lease modification and impairment
    		                                
      other
    		    0                            
      payment of debt issuance costs
    		0 0 0 -7,000,000                 0            
      amortization of rou
    		 2,000,000 3,000,000 3,000,000  4,000,000                           
      lease modification and impairment
    		                                
      amortization of premium of investments
    		 1,000,000 0 1,000,000                             
      payment of long-term financing fees
    		 0 0 -2,000,000                             
      repayment of debt
    		 0 0 -370,000,000 -6,000,000 -5,000,000 -5,000,000 -6,000,000 -5,000,000 -6,000,000 -5,000,000 -6,000,000                     
      net decrease in cash and cash equivalents, unrestricted and restricted
    		 141,000,000 -160,000,000 -122,000,000  15,000,000 62,000,000 -191,000,000      38,000,000                   
      amortization of rou asset
    		                                
      amortization of (premium) discount of investments
    		                                
      proceeds from issuance of notes payable
    		             0       0            
      payments for extinguishment of debt
    		            0 0       0            
      proceeds from sales and maturities of marketable securities
    		     47,000,000 52,000,000 67,000,000                         
      noncash lease expense
    		       4,000,000 2,000,000 4,000,000                       
      client deposits
    		       -6,000,000 16,000,000 -38,000,000 29,000,000 -19,000,000                     
      proceeds from issuance of common stock from employee stock purchase plan
    		         0                       
      proceeds from issuance of common stock from exercised options
    		         0                       
      net decrease in unrestricted and restricted cash and cash equivalents
    		         -86,000,000 -64,000,000 -200,000,000                     
      stock-based compensation
    		          11,000,000 9,000,000 13,000,000 12,000,000 10,000,000 9,000,000 10,594,000 7,700,000 7,499,000 6,207,000 6,328,000 6,264,000 6,508,000 7,397,000 4,932,000 4,188,000 4,883,000 3,920,000 2,409,000 3,181,000 2,923,000 2,147,000 
      proceeds from issuance of debt
    		                                
      net increase in unrestricted and restricted cash and cash equivalents
    		                                
      prepaid income taxes
    		             -1,000,000 -11,000,000 13,000,000 -5,448,000 14,783,000 12,867,000 14,798,000 -38,101,000 3,249,000   -3,080,000 3,621,000       
      prepaid expenses and other current assets
    		             -1,000,000 -14,000,000 -9,000,000 1,961,000 1,640,000 -4,302,000 1,701,000 2,262,000 -220,000 -3,876,000 -1,157,000 4,514,000        
      workers' compensation collateral receivable and other noncurrent assets
    		             -4,000,000                   
      accrued corporate wages
    		             1,000,000 4,000,000 -9,000,000                 
      workers' compensation loss reserves and other noncurrent liabilities
    		                                
      worksite employee related assets
    		             -55,000,000 18,000,000 -14,000,000 -683,767,000 -42,108,000 140,753,000 242,122,000 -433,926,000 100,026,000 79,252,000 346,563,000 -506,260,000 -28,887,000 84,380,000 712,517,000  -32,768,000 -479,000 108,637,000 
      worksite employee related liabilities
    		             43,000,000 -86,000,000 -566,000,000 683,127,000 41,758,000 -140,983,000 -241,902,000 433,443,000 -100,851,000 -79,055,000 -347,039,000 507,494,000        
      proceeds from sale of marketable securities
    		             15,000,000                   
      proceeds from maturity of marketable securities
    		             9,000,000 10,000,000 14,000,000 -447,000 2,978,000 7,844,000 3,625,000             
      proceeds from issuance of common stock on exercised options
    		             1,000,000 2,000,000 3,000,000 2,322,000 3,092,000 3,487,000 2,099,000 1,688,000 1,364,000 1,716,000 504,000 702,000 1,825,000 1,440,000 3,199,000 1,047,000 515,000 137,000 494,000 
      proceeds from issuance of common stock on employee stock purchase plan
    		             0   2,559,000 0   2,202,000 0   2,592,000 0       
      repayment of notes payable
    		             -5,000,000 0 -10,000,000        -5,062,000 -5,063,000        
      supplemental schedule of cash and cash equivalents
    		                                
      net increase in unrestricted cash and cash equivalents
    		             35,000,000 -128,000,000 -6,000,000                 
      net decrease in restricted cash and cash equivalents
    		             3,000,000                   
      workers' compensation collateral receivable
    		               -1,000,000 1,048,000 -12,868,000 7,692,000 -2,872,000             
      workers' compensation loss reserves and other non-current liabilities
    		               -6,000,000 8,426,000 8,635,000 -13,290,000 8,229,000             
      income taxes paid (refunded)
    		                 31,000 395,000 -564,000             
      net increase in restricted cash and cash equivalents
    		               -547,000,000                 
      accretion of workers' compensation and leases fair value adjustment
    		                                
      restricted cash and cash equivalents
    		                -430,000 -13,588,000 -31,105,000 -877,000             
      accounts payable
    		                16,495,000 1,503,000 4,415,000 -413,000 4,620,000 2,050,000 -3,623,000 6,111,000 -2,235,000    386,000 1,421,000 1,327,000 2,078,000 
      accrued corporate wages and other current liabilities
    		                8,669,000 -5,968,000 -3,604,000 11,903,000 -1,301,000 5,267,000           
      acquisitions of businesses
    		                    0 0 0 -300,000 0        
      purchase of property and equipment
    		                    -11,708,000 -11,228,000 -9,907,000 -6,807,000 -3,810,000        
      tax credit received for deductible ipo transaction costs
    		                                
      net increase in cash and cash equivalents
    		                72,477,000 29,644,000 17,829,000 32,050,000 23,446,000 -6,106,000 -29,274,000 29,760,000 19,863,000    36,389,000 -2,336,000 -22,313,000 28,245,000 
      cash and cash equivalents at beginning of year
    		                               94,356,000 
      cash and cash equivalents at end of year
    		                               122,601,000 
      income taxes paid (refund)
    		                                
      allowance for tenant improvements
    		                                
      repayment of notes and capital leases payable
    		                 -9,584,000 -9,582,000 -9,569,000             
      cash and cash equivalents at beginning of period
    		                 0 0 184,004,000 0 0 0 166,178,000 0 0 0 134,341,000 0 0   
      cash and cash equivalents at end of period
    		                 29,644,000 17,829,000 216,054,000 23,446,000 -6,106,000 -29,274,000 195,938,000 19,863,000 17,902,000 24,012,000 104,401,000 36,389,000 -2,336,000   
      excess tax benefits received from equity incentive plan activity
    		                                
      workers' compensation loss reserves
    		                                
      proceeds from issuance of common stock, net of issuance costs
    		                            -776,000 -41,000   
      excess tax credits received from equity incentive plan activity
    		                                
      restricted cash and available for sale investments
    		                                
      workers compensation receivables
    		                     -775,000 -2,911,000 -7,688,000 -142,000       3,379,000 
      workers compensation and other liabilities
    		                     8,064,000           
      purchases of restricted investments
    		                     0           
      proceeds from maturities of restricted investments
    		                     792,000           
      repayment of notes payable and capital leases
    		                                
      cash paid for interest
    		                     3,560,000 4,008,000 4,083,000 3,846,000 3,572,000   6,389,000 2,255,000 14,314,000 9,093,000 
      cash paid for income taxes
    		                     6,276,000 18,802,000 2,572,000 538,000 -38,000       
      excess tax benefit from equity incentive plan activity
    		                        -343,000 -38,000,000 4,820,000 12,853,000   1,276,000 1,753,000 
      restricted cash and investments
    		                      -17,839,000 -3,202,000 3,207,000        
      repayment of notes payable and borrowings under capital leases
    		                                
      excess tax (benefit) deficiency from equity incentive plan activity
    		                       467,000         
      income taxes payable/receivable
    		                       6,735,000         
      other current liabilities
    		                       -2,505,000 -3,487,000    -3,572,000   1,532,000 
      maturity of debt securities
    		                       1,500,000         
      excess tax benefit (deficiency) from equity incentive plan activity
    		                       -467,000         
      repayments under capital leases
    		                       -10,000 -6,000        
      accretion of workers compensation and leases fair value adjustment
    		                        -116,000        
      purchase of debt securities
    		                        -26,950,000        
      proceeds from maturity of debt securities
    		                        26,282,000        
      realized tax benefit of deductible ipo transaction costs
    		                        0        
      borrowings under notes payable
    		                                
      payments of special dividend
    		                                
      restricted cash
    		                                
      income tax payable/receivable
    		                           29,153,000     
      cash received (paid) for income taxes
    		                           4,357,000     
      acquisition of businesses
    		                                
      proceeds from sale and maturity of debt securities
    		                                
      proceeds from issuance of common stock for employee stock purchase plan
    		                                
      cash paid for income taxes, net of refunds
    		                             -98,000 6,715,000 4,352,000 
      borrowings under capital leases
    		                               47,000 
      special dividend payable on unvested restricted stock units
    		                               35,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.