Insperity (NSP) 10-Q1 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-13998
Entity Registrant Name	Insperity, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0479645
Entity Address, Address Line One	19001 Crescent Springs Drive
Entity Address, City or Town	Kingwood,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77339
City Area Code	281
Local Phone Number	358-8986
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,655,455
Entity Central Index Key	0001000753
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Information [Line Items]
Entity Registrant Name	Insperity, Inc.
Entity Emerging Growth Company	false
Entity Small Business	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	NSP
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 667	$ 693
Restricted cash	61	57
Marketable securities	16	16
Accounts receivable, net	724	694
Prepaid insurance and related assets	37	7
Funds held for clients and other current assets	114	128
Total current assets	1,619	1,595
Property and equipment, net of accumulated depreciation	191	197
Right-of-use (“ROU”) leased assets	56	57
Prepaid health insurance	9	9
Deposits – health insurance	8	8
Deposits workers compensation	204	198
Goodwill and other intangible assets, net	13	13
Deferred income taxes, net	6	20
Other assets	20	23
Total assets	2,126	2,120
Current liabilities:
Accounts payable	6	11
Payroll taxes and other payroll deductions payable	489	566
Accrued worksite employee payroll cost	622	559
Accrued health insurance costs	71	46
Accrued workers’ compensation costs	64	60
Accrued corporate payroll and commissions	55	64
Income taxes payable	15	3
Other accrued liabilities	84	127
Total current liabilities	1,406	1,436
Noncurrent liabilities:
Accrued workers’ compensation costs, net of current	155	163
Long-term debt	369	369
Operating lease liabilities, net of current	56	58
Total noncurrent liabilities	580	590
Commitments and contingencies
Stockholders’ equity:
Common stock	1	1
Additional paid-in capital	172	185
Treasury stock, at cost	(826)	(831)
Retained earnings	793	739
Total stockholders’ equity	140	94
Total liabilities and stockholders’ equity	$ 2,126	$ 2,120

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,802	$ 1,770
Payroll taxes, benefits and workers’ compensation costs	1,457	1,438
Gross profit	345	332
Salaries, wages and payroll taxes	140	125
Stock-based compensation	10	11
Commissions	12	11
Advertising	7	6
General and administrative expenses	57	48
Depreciation and amortization	11	10
Total operating expenses	237	211
Operating income	108	121
Other income (expense):
Interest income	10	9
Interest expense	(7)	(6)
Income before income tax expense	111	124
Income tax expense	32	29
Net income	$ 79	$ 95
Basic net income per share of common stock (in dollars per share)	$ 2.11	$ 2.49
Diluted net income per share of common stock (in dollars per share)	$ 2.08	$ 2.45

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 79	$ 95
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11	10
Stock-based compensation	10	11
Deferred income taxes	14	17
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Accounts receivable	(30)	16
Prepaid insurance and related assets	(30)	(39)
Other current assets	(27)	(12)
Other assets and ROU assets	5	2
Accounts payable	(5)	1
Payroll taxes and other payroll deductions payable	(77)	(60)
Accrued worksite employee payroll costs	63	12
Accrued health insurance costs	25	26
Accrued workers’ compensation costs	(4)	0
Accrued corporate payroll, commissions and other accrued liabilities	(15)	(46)
Income taxes payable/receivable	12	7
Total adjustments	(48)	(55)
Net cash provided by operating activities	31	40
Marketable securities:
Purchases	(6)	(14)
Proceeds from maturities	6	12
Proceeds from Sale of Property, Plant, and Equipment [Abstract]
Property and equipment purchases	(5)	(7)
Net cash used in investing activities	(5)	(9)
Cash flows from financing activities:
Purchase of treasury stock	(23)	(35)
Dividends paid	(21)	(20)
Client funds liability and other	(39)	8
Net cash used in financing activities	(83)	(47)
Net decrease in cash, cash equivalents, restricted cash and funds held for clients	(57)	(16)
Cash, cash equivalents, restricted cash and funds held for clients beginning of period	1,035	1,014
Cash, cash equivalents, restricted cash and funds held for clients end of period	978	998
Supplemental cash flow information:
ROU assets obtained in exchange for lease obligations	$ 4	$ 1

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock, Common	Retained Earnings [Member]
Balance (shares) at Dec. 31, 2022	55
Balance at Dec. 31, 2022	$ 81	$ 1	$ 151	$ (726)	$ 655
Treasury Stock, Value, Acquired, Cost Method	(35)	0	0	(35)	0
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture	0	0	(21)	26	(5)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	11	0	11	0	0
Stockholders' Equity, Other	1	0	1	0	0
Dividends, Common Stock, Cash	(20)	0	0	0	(20)
Net income	95	0	0	0	95
Balance at Mar. 31, 2023	$ 133	1	142	(735)	725
Balance (shares) at Mar. 31, 2023	55
Balance (shares) at Dec. 31, 2023	55
Balance at Dec. 31, 2023	$ 94	1	185	(831)	739
Treasury Stock, Value, Acquired, Cost Method	(23)	0	0	(23)	0
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture	0	0	(24)	28	(4)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	10	0	10	0	0
Stockholders' Equity, Other	1	0	1	0	0
Dividends, Common Stock, Cash	(21)	0	0	0	(21)
Net income	79	0	0	0	79
Balance at Mar. 31, 2024	$ 140	$ 1	$ 172	$ (826)	$ 793
Balance (shares) at Mar. 31, 2024	55

Basis of Presentation (Notes)

Basis of Presentation (Notes)	3 Months Ended
Basis of Presentation (Notes)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Insperity, Inc., a Delaware corporation (“Insperity,” “we,” “our,” and “us”), provides an array of human resources (“HR”) and business solutions designed to help improve business performance. Our most comprehensive HR services offerings are provided through our professional employer organization (“PEO”) services, known as our Workforce Optimization ® and Workforce Synchronization TM solutions (together, our “PEO HR Outsourcing Solutions”), which we provide by entering into a co-employment relationship with our clients. Our PEO HR Outsourcing Solutions encompass a broad range of HR functions, including payroll and employment administration, employee benefits, workers’ compensation, government compliance, performance management, and training and development services, along with our cloud-based human capital management solution, the Insperity Premier TM platform. In addition to our PEO HR Outsourcing Solutions, we offer a comprehensive traditional payroll and human capital management solution, known as our Workforce Acceleration TM solution (our “Traditional Payroll Solution”). We also offer a number of other business performance solutions, including Recruiting Services, Employment Screening, Retirement Services, and Insurance Services. These other products or services are offered separately or with our other solutions. The Consolidated Financial Statements include the accounts of Insperity, Inc. and its wholly owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The accompanying Consolidated Financial Statements should be read in conjunction with our audited Consolidated Financial Statements at and for the year ended December 31, 2023. Our Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from the audited financial statements at that date, but does not include all of the information or footnotes required by GAAP for complete financial statements. Our Condensed Consolidated Balance Sheet at March 31, 2024 and our Consolidated Statements of Income for the three month periods ended March 31, 2024 and 2023, our Consolidated Statements of Cash Flows for the three month periods ended March 31, 2024 and 2023 and our Consolidated Statements of Stockholders' Equity for the three month periods ended March 31, 2024 and 2023, have been prepared by us without audit. In the opinion of management, all adjustments necessary to present fairly the consolidated financial position, results of operations and cash flows have been made, and all such adjustments are of a normal recurring nature. The results of operations for the interim periods are not necessarily indicative of the operating results for a full year or of future operations.

Accounting Policies (Notes)

Accounting Policies (Notes)	3 Months Ended
Accounting Policies (Notes)	Mar. 31, 2024
Accounting Policies [Abstract]
Accounting Policies	2. Accounting Policies Health Insurance Costs We provide group health insurance coverage under a single-employer plan that covers both our WSEEs in our PEO HR Outsourcing Solutions and our corporate employees and utilizes a national network of carriers, including UnitedHealthcare (“United”), UnitedHealthcare of California, Kaiser Permanente, Blue Shield of California, HMSA BlueCross BlueShield of Hawaii, and Harvard Pilgrim Health Care, formerly known as Tufts, all of which provide fully insured policies or service contracts. Approximately 87% of our costs related to health insurance coverage are provided under our policy with United. While the policy with United is a fully insured plan, as a result of certain contractual terms, we have accounted for this plan since its inception using a partially self-funded insurance accounting model. Effective January 1, 2020, under the amended agreement with United, we no longer have financial responsibilities for a participant’s annual claim costs that exceed $1 million (“Individual Claims Limit”). Accordingly, we record the cost of the United plan, including an estimate of the incurred claims, taxes and administrative fees (collectively the “Plan Costs”), as benefits expense, which is a component of direct costs, in our Consolidated Statements of Income. The estimated incurred but not reported claims are based upon: (1) the level of claims processed during each quarter; (2) estimated completion rates based upon recent claim development patterns under the plan; and (3) the number of participants in the plan, including both active and COBRA enrollees. Each reporting period, changes in the estimated ultimate costs resulting from claim trends, plan design and migration, participant demographics, and other factors are incorporated into the benefits costs, which requires a significant level of judgment. Additionally, since the plan’s inception, under the terms of the contract, United establishes cash funding rates 90 days in advance of the beginning of a reporting quarter. If the Plan Costs for a reporting quarter are greater than the premiums paid and owed to United, a deficit in the plan would be incurred and a liability for the excess costs would be accrued in our Condensed Consolidated Balance Sheets. On the other hand, if the Plan Costs for the reporting quarter are less than the premiums paid and owed to United, a surplus in the plan would be incurred and we would record an asset for the excess premiums in our Condensed Consolidated Balance Sheets. The terms of the arrangement require us to maintain an accumulated cash surplus in the plan of $9 million, which is reported as long-term prepaid health insurance. In addition, United requires a deposit equal to approximately one day of claims funding activity, which was $7 million at March 31, 2024, and is included in deposits - health insurance as a long-term asset on our Condensed Consolidated Balance Sheets. As of March 31, 2024, Plan Costs were less than the net premiums paid and owed to United by $33 million. As this amount is in excess of the agreed-upon $9 million surplus maintenance level, the $24 million difference is included in prepaid insurance, a current asset, in our Condensed Consolidated Balance Sheets. The premiums, including the additional quarterly premiums, owed to United at March 31, 2024 were $63 million, which is included in accrued health insurance costs, a current liability in our Condensed Consolidated Balance Sheets. Our benefits costs incurred in the first three months of 2024 included a decrease of $18 million for changes in estimated run-off related to prior periods, net of Individual Claims Limit. Our benefits costs incurred in the first three months of 2023 included a decrease of $9 million for changes in estimated run-off related to prior periods. Workers’ Compensation Costs Our workers’ compensation coverage for our WSEEs in our PEO HR Outsourcing Solutions has been provided through an arrangement with the Chubb Group of Insurance Companies or its predecessors (the “Chubb Program”) since 2007. The Chubb Program is fully insured in that Chubb has the responsibility to pay all claims incurred under the policy regardless of whether we satisfy our responsibilities. Under the Chubb Program, for claims incurred on or before September 30, 2019, we have financial responsibility to Chubb for the first $1 million layer of claims per occurrence and, for claims over $1 million, up to a maximum aggregate amount of $6 million per policy year for claims that exceed $1 million. Chubb bears the financial responsibility for all claims in excess of these levels. Effective for claims incurred on or after October 1, 2019, we have financial responsibility to Chubb for the first $1.5 million layer of claims per occurrence and, for claims over $1.5 million, up to a maximum aggregate amount of $6 million per policy year for claims that exceed $1.5 million. Because we bear the financial responsibility for claims up to the levels noted above, such claims, which are the primary component of our workers’ compensation costs, are recorded in the period incurred. Workers’ compensation insurance includes ongoing health care and indemnity coverage whereby claims are paid over numerous years following the date of injury. Accordingly, the accrual of related incurred costs in each reporting period includes estimates, which take into account the ongoing development of claims and therefore requires a significant level of judgment. We utilize a third-party actuary to estimate our loss development rate, which is primarily based upon the nature of WSEEs’ job responsibilities, the location of WSEEs, the historical frequency and severity of workers’ compensation claims, and an estimate of future cost trends. Each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers’ compensation claims cost estimates. During the three months ended March 31, 2024 and 2023, we reduced accrued workers’ compensation costs by $9 million and $8 million, respectively, for changes in estimated losses related to prior periods. Workers’ compensation cost estimates are discounted to present value at a rate based upon the U.S. Treasury rates that correspond with the weighted average estimated claim payout period (the average discount rate utilized in the 2024 period was 4.5% and in the 2023 period was 4.0%) and are accreted over the estimated claim payment period and included as a component of direct costs in our Consolidated Statements of Income. The following table provides the activity and balances related to incurred but not paid workers’ compensation claims: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance, January 1, $ 220 $ 229 Accrued claims 14 16 Present value discount, net of accretion (3) (3) Paid claims (16) (13) Ending balance $ 215 $ 229 Current portion of accrued claims $ 60 $ 48 Long-term portion of accrued claims 155 181 Total accrued claims $ 215 $ 229 The current portion of accrued workers’ compensation costs on our Condensed Consolidated Balance Sheets at March 31, 2024 and 2023 includes $4 million in both periods of workers’ compensation administrative fees. The undiscounted accrued workers’ compensation costs were $247 million as of March 31, 2024 and $253 million as of March 31, 2023. At the beginning of each policy period, the workers’ compensation insurance carrier establishes monthly funding requirements comprised of premium costs and funds to be set aside for payment of future claims (“claim funds”). The level of claim funds is primarily based upon anticipated WSEE payroll levels and expected workers’ compensation loss rates, as determined by the insurance carrier. Monies funded into the program for incurred claims expected to be paid within one year are recorded as restricted cash, a short-term asset, while the remainder of claim funds are included in deposits – workers’ compensation, a long-term asset in our Condensed Consolidated Balance Sheets. At March 31, 2024, we had restricted cash of $61 million and deposits – workers’ compensation of $204 million. Our estimate of incurred claim costs expected to be paid within one year is included in short-term liabilities, while our estimate of incurred claim costs expected to be paid beyond one year is included in long-term liabilities on our Condensed Consolidated Balance Sheets. Revenues We enter into contracts with our customers for human resources services based on a stated rate and price in the contract. Our contracts generally establish pricing for a period of 12 months and are generally cancellable at any time by either party with 30-days’ notice. Our performance obligations are satisfied as services are rendered each month. The term between invoicing and when our performance obligations are satisfied is not significant. Our payment terms typically require payment concurrently with the invoicing of our PEO services. We do not have significant financing components or significant payment terms. Our revenue is generally recognized ratably over the payroll period as WSEEs perform their service at the client worksite in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers . Customers are invoiced concurrently with each periodic payroll of its WSEEs. Revenues that have been recognized but not invoiced represent unbilled accounts receivable of $712 million and $669 million at March 31, 2024 and December 31, 2023, respectively, and are included in accounts receivable, net on our Condensed Consolidated Balance Sheets. Pursuant to the “practical expedients” provided under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers , we expense sales commissions when incurred because the terms of our contracts are cancellable by either party with a 30-day notice. These costs are recorded in commissions in our Consolidated Statements of Income. Our revenue for our PEO HR Outsourcing Solutions by geographic region and for our other products and services offerings are as follows: Three Months Ended March 31, (in millions) 2024 2023 % Change Northeast $ 509 $ 492 3 % Southeast 246 239 3 % Central 324 319 2 % Southwest 340 340 — % West 366 363 1 % 1,785 1,753 2 % Other revenue 17 17 — % Total revenue $ 1,802 $ 1,770 2 % Our PEO HR Outsourcing Solutions revenues are primarily derived from our gross billings, which are based on (1) the payroll cost of our WSEEs; and (2) a markup computed as a percentage of the payroll cost. The gross billings are invoiced concurrently with each periodic payroll of our WSEEs. Revenues, which exclude the payroll cost component of gross billings and therefore consist solely of the markup, are recognized ratably over the payroll period as WSEEs perform their service at the client worksite. In determining the pricing of the markup component of our gross billings, we take into consideration our estimates of the costs directly associated with our WSEEs, including payroll taxes, benefits and workers’ compensation costs, plus an acceptable gross profit margin. As a result, our operating results are significantly impacted by our ability to accurately estimate our direct costs relative to the revenues derived from the markup component of our gross billings. Revenues are comprised of gross billings less WSEE payroll costs as follows: Three Months Ended March 31, (in millions) 2024 2023 Gross billings $ 11,483 $ 11,451 Less: WSEE payroll cost 9,681 9,681 Revenues $ 1,802 $ 1,770

Other Balance Sheet Information

Other Balance Sheet Information (Notes)	3 Months Ended
Other Balance Sheet Information (Notes)	Mar. 31, 2024
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: March 31, 2024 December 31, 2023 (in millions) Cash & Cash Equivalents Marketable Securities Total Cash & Cash Equivalents Marketable Securities Total Overnight holdings $ 356 $ — $ 356 $ 611 $ — $ 611 Investment holdings 118 16 134 119 16 135 474 16 490 730 16 746 Cash in demand accounts 212 — 212 27 — 27 Outstanding checks (19) — (19) (64) — (64) Total $ 667 $ 16 $ 683 $ 693 $ 16 $ 709 Our cash and overnight holdings fluctuate based on the timing of clients’ payroll processing cycles. Our cash, cash equivalents and marketable securities at March 31, 2024 and December 31, 2023 included $443 million and $510 million, respectively, of funds associated with federal and state income tax withholdings, employment taxes, and other payroll deductions, as well as $34 million and $28 million, respectively, in client prepayments. Cash, Cash Equivalents, Restricted Cash and Funds Held for Clients The following table summarizes our cash, cash equivalents, restricted cash and funds held for clients as reported in our Consolidated Statements of Cash Flows: Three Months Ended March 31, (in millions) 2024 2023 Supplemental schedule of cash and cash equivalents, restricted cash and funds held for clients Cash and cash equivalents $ 693 $ 733 Restricted cash 57 50 Other current assets – funds held for clients (1) 87 35 Deposits – workers’ compensation 198 196 Cash, cash equivalents, restricted cash and funds held for clients beginning of period $ 1,035 $ 1,014 Cash and cash equivalents $ 667 $ 697 Restricted cash 61 48 Other current assets – funds held for clients (1) 46 42 Deposits – workers’ compensation 204 211 Cash, cash equivalents, restricted cash and funds held for clients end of period $ 978 $ 998 ____________________________________ (1) Funds held for clients represent amounts held on behalf of our Traditional Payroll 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

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Notes)	3 Months Ended
Fair Value Measurements Fair Value Measurements (Notes)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	4. Fair Value Measurements We account for our financial assets in accordance with ASC 820, Fair Value Measurement . This standard defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 - quoted prices in active markets using identical assets • Level 2 - significant other observable inputs, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other observable inputs • Level 3 - significant unobservable inputs Fair Value of Instruments Measured and Recognized at Fair Value The following table summarizes the levels of fair value measurements of our financial assets: March 31, 2024 December 31, 2023 (in millions) Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 474 $ 474 $ — $ 730 $ 730 $ — U.S. Treasury bills 16 16 — 16 16 — 490 490 — 746 746 — Deposits - money market funds 42 42 — 22 22 — Total $ 532 $ 532 $ — $ 768 $ 768 $ — Please read Note 3. “ Other Balance Sheet Information ,” for additional information. Our valuation techniques used to measure fair value for these securities during the period consisted primarily of third-party pricing services that utilized actual market data such as trades of comparable bond issues, broker/dealer quotations for the same or similar investments in active markets and other observable inputs. The following is a summary of our available-for-sale marketable securities: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2024 U.S. Treasury bills $ 16 $ — $ — $ 16 December 31, 2023 U.S. Treasury bills $ 16 $ — $ — $ 16 As of March 31, 2024, the contractual maturities of all marketable securities in our portfolio were less than one year. Fair Value of Other Financial Instruments The carrying amounts of cash, cash equivalents, restricted cash, accounts receivable, deposits and accounts payable approximate their fair values due to the short-term maturities of these instruments. As of March 31, 2024, the carrying value of borrowings under our revolving credit facility approximates fair value and was classified as Level 2 in the fair value hierarchy. Please read Note 5, “ Long-Term Debt ,” for additional information.

Long-term Debt (Notes)

Long-term Debt (Notes)	3 Months Ended
Long-term Debt (Notes)	Mar. 31, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	5. Long-Term Debt We have a revolving credit facility (the “Facility”) with a borrowing capacity of up to $650 million. The Facility may be further increased to $700 million based on the terms and subject to the conditions set forth in the agreement relating to the Facility (as amended, the “Credit Agreement”). The Facility is available for working capital and general corporate purposes, including acquisitions, stock repurchases and issuances of letters of credit. Our obligations under the Facility are secured by 100% of the stock of our captive insurance subsidiary and are guaranteed by all of our subsidiaries other than our captive insurance subsidiary and certain other excluded subsidiaries. At March 31, 2024, our outstanding balance on the Facility was $369 million, and we had an outstanding $1 million letter of credit issued under the Facility, resulting in an available borrowing capacity of $280 million. The Facility matures on June 30, 2027. Borrowings under the Facility bear interest at an annual rate equal to an alternate base rate or Adjusted Term SOFR for term SOFR loans, in either case plus an applicable margin. Adjusted Term SOFR is a forward-looking term rate based on the secured overnight financing rate plus a spread adjustment, which ranges from 0.10% to 0.25% depending on the interest period and type of loan. Depending on our leverage ratio, the applicable margin varies (1) in the case of SOFR loans, from 1.50% to 2.25% and (2) in the case of alternate base rate loans, from 0.00% to 0.50%. The alternate base rate is the highest of (1) the prime rate most recently published in The Wall Street Journal, (2) the federal funds rate plus 0.50%; and (3) the Adjusted Term SOFR rate plus 2.00%. We also pay an unused commitment fee on the average daily unused portion of the Facility at a rate of 0.25% per year. The average interest rate for the three month period ended March 31, 2024 was 7.2%. Interest expense and unused commitment fees are recorded in other income (expense). The Facility contains both affirmative and negative covenants that we believe are customary for arrangements of this nature. Covenants include, but are not limited to, limitations on our ability to incur additional indebtedness, sell material assets, retire, redeem or otherwise reacquire our capital stock, acquire the capital stock or assets of another business, make investments and pay dividends. In addition, the Credit Agreement requires us to comply with financial covenants limiting our total funded debt, minimum interest coverage ratio, and maximum leverage ratio. We were in compliance with all financial covenants under the Credit Agreement at March 31, 2024.

Stockholders' Equity (Notes)

Stockholders' Equity (Notes)	3 Months Ended
Stockholders' Equity (Notes)	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders Equity	6. Stockholders' Equity During the three months ended March 31, 2024, we repurchased or withheld an aggregate of 232,891 shares of our common stock, as described below. Repurchase Program Our Board of Directors (the “Board”) has authorized a program to repurchase shares of our outstanding common stock (“Repurchase Program”). The purchases may be made from time to time in the open market or directly from stockholders at prevailing market prices based on market conditions and other factors. During the three months ended March 31, 2024, 53,744 shares were repurchased under the Repurchase Program. As of March 31, 2024, we were authorized to repurchase an additional 1,915,818 shares under the Repurchase Program. Withheld Shares During the three months ended March 31, 2024, we withheld 179,147 shares to satisfy tax withholding obligations for the vesting of long-term incentive and restricted stock unit awards. Dividends The Board declared and paid quarterly dividends as follows: (amounts per share) 2024 2023 First quarter $ 0.57 $ 0.52 During the three months ended March 31, 2024 and 2023, we declared and paid dividends totaling $21 million and $20 million, respectively.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	3 Months Ended
Earnings Per Share (Notes)	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income per Share	7. Earnings Per Share Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period, plus the dilutive effect of time-vested and performance-based restricted stock units (“RSUs”). The following table summarizes the net income and the basic and diluted shares used in the earnings per share computations: Three Months Ended (in millions) 2024 2023 Net income $ 79 $ 95 Weighted average common shares outstanding 37 38 Incremental shares from assumed time-vested and performance-based RSU awards 1 1 Adjusted weighted average common shares outstanding 38 39 An insignificant number of shares of time-vested and performance-based RSU awards were excluded from the calculation of diluted earnings per share due to anti-dilution during the three months ended March 31, 2024 and 2023, respectively.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	3 Months Ended
Commitments and Contingencies (Notes)	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Litigation We are a defendant in various lawsuits and claims arising in the normal course of business. Management believes it has valid defenses in these cases and is defending them vigorously. While the results of litigation cannot be predicted with certainty, management believes the final outcome of such litigation will not have a material adverse effect on our financial position or results of operations.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Health Insurance Costs	Health Insurance Costs We provide group health insurance coverage under a single-employer plan that covers both our WSEEs in our PEO HR Outsourcing Solutions and our corporate employees and utilizes a national network of carriers, including UnitedHealthcare (“United”), UnitedHealthcare of California, Kaiser Permanente, Blue Shield of California, HMSA BlueCross BlueShield of Hawaii, and Harvard Pilgrim Health Care, formerly known as Tufts, all of which provide fully insured policies or service contracts. Approximately 87% of our costs related to health insurance coverage are provided under our policy with United. While the policy with United is a fully insured plan, as a result of certain contractual terms, we have accounted for this plan since its inception using a partially self-funded insurance accounting model. Effective January 1, 2020, under the amended agreement with United, we no longer have financial responsibilities for a participant’s annual claim costs that exceed $1 million (“Individual Claims Limit”). Accordingly, we record the cost of the United plan, including an estimate of the incurred claims, taxes and administrative fees (collectively the “Plan Costs”), as benefits expense, which is a component of direct costs, in our Consolidated Statements of Income. The estimated incurred but not reported claims are based upon: (1) the level of claims processed during each quarter; (2) estimated completion rates based upon recent claim development patterns under the plan; and (3) the number of participants in the plan, including both active and COBRA enrollees. Each reporting period, changes in the estimated ultimate costs resulting from claim trends, plan design and migration, participant demographics, and other factors are incorporated into the benefits costs, which requires a significant level of judgment. Additionally, since the plan’s inception, under the terms of the contract, United establishes cash funding rates 90 days in advance of the beginning of a reporting quarter. If the Plan Costs for a reporting quarter are greater than the premiums paid and owed to United, a deficit in the plan would be incurred and a liability for the excess costs would be accrued in our Condensed Consolidated Balance Sheets. On the other hand, if the Plan Costs for the reporting quarter are less than the premiums paid and owed to United, a surplus in the plan would be incurred and we would record an asset for the excess premiums in our Condensed Consolidated Balance Sheets. The terms of the arrangement require us to maintain an accumulated cash surplus in the plan of $9 million, which is reported as long-term prepaid health insurance. In addition, United requires a deposit equal to approximately one day of claims funding activity, which was $7 million at March 31, 2024, and is included in deposits - health insurance as a long-term asset on our Condensed Consolidated Balance Sheets. As of March 31, 2024, Plan Costs were less than the net premiums paid and owed to United by $33 million. As this amount is in excess of the agreed-upon $9 million surplus maintenance level, the $24 million difference is included in prepaid insurance, a current asset, in our Condensed Consolidated Balance Sheets. The premiums, including the additional quarterly premiums, owed to United at March 31, 2024 were $63 million, which is included in accrued health insurance costs, a current liability in our Condensed Consolidated Balance Sheets. Our benefits costs incurred in the first three months of 2024 included a decrease of $18 million for changes in estimated run-off related to prior periods, net of Individual Claims Limit. Our benefits costs incurred in the first three months of 2023 included a decrease of $9 million for changes in estimated run-off related to prior periods.
Workers' Compensation Costs	Workers’ Compensation Costs Our workers’ compensation coverage for our WSEEs in our PEO HR Outsourcing Solutions has been provided through an arrangement with the Chubb Group of Insurance Companies or its predecessors (the “Chubb Program”) since 2007. The Chubb Program is fully insured in that Chubb has the responsibility to pay all claims incurred under the policy regardless of whether we satisfy our responsibilities. Under the Chubb Program, for claims incurred on or before September 30, 2019, we have financial responsibility to Chubb for the first $1 million layer of claims per occurrence and, for claims over $1 million, up to a maximum aggregate amount of $6 million per policy year for claims that exceed $1 million. Chubb bears the financial responsibility for all claims in excess of these levels. Effective for claims incurred on or after October 1, 2019, we have financial responsibility to Chubb for the first $1.5 million layer of claims per occurrence and, for claims over $1.5 million, up to a maximum aggregate amount of $6 million per policy year for claims that exceed $1.5 million. Because we bear the financial responsibility for claims up to the levels noted above, such claims, which are the primary component of our workers’ compensation costs, are recorded in the period incurred. Workers’ compensation insurance includes ongoing health care and indemnity coverage whereby claims are paid over numerous years following the date of injury. Accordingly, the accrual of related incurred costs in each reporting period includes estimates, which take into account the ongoing development of claims and therefore requires a significant level of judgment. We utilize a third-party actuary to estimate our loss development rate, which is primarily based upon the nature of WSEEs’ job responsibilities, the location of WSEEs, the historical frequency and severity of workers’ compensation claims, and an estimate of future cost trends. Each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers’ compensation claims cost estimates. During the three months ended March 31, 2024 and 2023, we reduced accrued workers’ compensation costs by $9 million and $8 million, respectively, for changes in estimated losses related to prior periods. Workers’ compensation cost estimates are discounted to present value at a rate based upon the U.S. Treasury rates that correspond with the weighted average estimated claim payout period (the average discount rate utilized in the 2024 period was 4.5% and in the 2023 period was 4.0%) and are accreted over the estimated claim payment period and included as a component of direct costs in our Consolidated Statements of Income. The following table provides the activity and balances related to incurred but not paid workers’ compensation claims: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance, January 1, $ 220 $ 229 Accrued claims 14 16 Present value discount, net of accretion (3) (3) Paid claims (16) (13) Ending balance $ 215 $ 229 Current portion of accrued claims $ 60 $ 48 Long-term portion of accrued claims 155 181 Total accrued claims $ 215 $ 229 The current portion of accrued workers’ compensation costs on our Condensed Consolidated Balance Sheets at March 31, 2024 and 2023 includes $4 million in both periods of workers’ compensation administrative fees. The undiscounted accrued workers’ compensation costs were $247 million as of March 31, 2024 and $253 million as of March 31, 2023. At the beginning of each policy period, the workers’ compensation insurance carrier establishes monthly funding requirements comprised of premium costs and funds to be set aside for payment of future claims (“claim funds”). The level of claim funds is primarily based upon anticipated WSEE payroll levels and expected workers’ compensation loss rates, as determined by the insurance carrier. Monies funded into the program for incurred claims expected to be paid within one year are recorded as restricted cash, a short-term asset, while the remainder of claim funds are included in deposits – workers’ compensation, a long-term asset in our Condensed Consolidated Balance Sheets. At March 31, 2024, we had restricted cash of $61 million and deposits – workers’ compensation of $204 million. Our estimate of incurred claim costs expected to be paid within one year is included in short-term liabilities, while our estimate of incurred claim costs expected to be paid beyond one year is included in long-term liabilities on our Condensed Consolidated Balance Sheets.
Revenue Recognition	Revenues We enter into contracts with our customers for human resources services based on a stated rate and price in the contract. Our contracts generally establish pricing for a period of 12 months and are generally cancellable at any time by either party with 30-days’ notice. Our performance obligations are satisfied as services are rendered each month. The term between invoicing and when our performance obligations are satisfied is not significant. Our payment terms typically require payment concurrently with the invoicing of our PEO services. We do not have significant financing components or significant payment terms. Our revenue is generally recognized ratably over the payroll period as WSEEs perform their service at the client worksite in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers . Customers are invoiced concurrently with each periodic payroll of its WSEEs. Revenues that have been recognized but not invoiced represent unbilled accounts receivable of $712 million and $669 million at March 31, 2024 and December 31, 2023, respectively, and are included in accounts receivable, net on our Condensed Consolidated Balance Sheets. Pursuant to the “practical expedients” provided under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customers , we expense sales commissions when incurred because the terms of our contracts are cancellable by either party with a 30-day notice. These costs are recorded in commissions in our Consolidated Statements of Income. Our revenue for our PEO HR Outsourcing Solutions by geographic region and for our other products and services offerings are as follows: Three Months Ended March 31, (in millions) 2024 2023 % Change Northeast $ 509 $ 492 3 % Southeast 246 239 3 % Central 324 319 2 % Southwest 340 340 — % West 366 363 1 % 1,785 1,753 2 % Other revenue 17 17 — % Total revenue $ 1,802 $ 1,770 2 % Our PEO HR Outsourcing Solutions revenues are primarily derived from our gross billings, which are based on (1) the payroll cost of our WSEEs; and (2) a markup computed as a percentage of the payroll cost. The gross billings are invoiced concurrently with each periodic payroll of our WSEEs. Revenues, which exclude the payroll cost component of gross billings and therefore consist solely of the markup, are recognized ratably over the payroll period as WSEEs perform their service at the client worksite. In determining the pricing of the markup component of our gross billings, we take into consideration our estimates of the costs directly associated with our WSEEs, including payroll taxes, benefits and workers’ compensation costs, plus an acceptable gross profit margin. As a result, our operating results are significantly impacted by our ability to accurately estimate our direct costs relative to the revenues derived from the markup component of our gross billings. Revenues are comprised of gross billings less WSEE payroll costs as follows: Three Months Ended March 31, (in millions) 2024 2023 Gross billings $ 11,483 $ 11,451 Less: WSEE payroll cost 9,681 9,681 Revenues $ 1,802 $ 1,770

Fair Value Measurements Fair Vl

Fair Value Measurements Fair Vlue Measurements (Policies)	3 Months Ended
Fair Value Measurements Fair Vlue Measurements (Policies)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	We account for our financial assets in accordance with ASC 820, Fair Value Measurement . This standard defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The fair value measurement disclosures are grouped into three levels based on valuation factors: • Level 1 - quoted prices in active markets using identical assets • Level 2 - significant other observable inputs, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other observable inputs • Level 3 - significant unobservable inputs
Fair Value Measurement, Policy	Fair Value of Other Financial Instruments The carrying amounts of cash, cash equivalents, restricted cash, accounts receivable, deposits and accounts payable approximate their fair values due to the short-term maturities of these instruments. As of March 31, 2024, the carrying value of borrowings under our revolving credit facility approximates fair value and was classified as Level 2 in the fair value hierarchy. Please read Note 5, “ Long-Term Debt ,” for additional information.

Accounting Policies (Tables)

Accounting Policies (Tables)	3 Months Ended
Accounting Policies (Tables)	Mar. 31, 2024
Accounting Policies [Abstract]
Activity and balances related to incurred but not paid workers' compensation claims	The following table provides the activity and balances related to incurred but not paid workers’ compensation claims: Three Months Ended March 31, (in millions) 2024 2023 Beginning balance, January 1, $ 220 $ 229 Accrued claims 14 16 Present value discount, net of accretion (3) (3) Paid claims (16) (13) Ending balance $ 215 $ 229 Current portion of accrued claims $ 60 $ 48 Long-term portion of accrued claims 155 181 Total accrued claims $ 215 $ 229
Disaggregation of Revenue [Table Text Block]	Our revenue for our PEO HR Outsourcing Solutions by geographic region and for our other products and services offerings are as follows: Three Months Ended March 31, (in millions) 2024 2023 % Change Northeast $ 509 $ 492 3 % Southeast 246 239 3 % Central 324 319 2 % Southwest 340 340 — % West 366 363 1 % 1,785 1,753 2 % Other revenue 17 17 — % Total revenue $ 1,802 $ 1,770 2 %
Revenues Comprise of Gross Billings and WSEE Payroll Cost [Table]	Revenues are comprised of gross billings less WSEE payroll costs as follows: Three Months Ended March 31, (in millions) 2024 2023 Gross billings $ 11,483 $ 11,451 Less: WSEE payroll cost 9,681 9,681 Revenues $ 1,802 $ 1,770

Other Balance Sheet Informati_2

Other Balance Sheet Information (Tables)	3 Months Ended
Other Balance Sheet Information (Tables)	Mar. 31, 2024
OtherBalanceSheetDisclosuresAbstract [Abstract]
Summary of investments in 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: March 31, 2024 December 31, 2023 (in millions) Cash & Cash Equivalents Marketable Securities Total Cash & Cash Equivalents Marketable Securities Total Overnight holdings $ 356 $ — $ 356 $ 611 $ — $ 611 Investment holdings 118 16 134 119 16 135 474 16 490 730 16 746 Cash in demand accounts 212 — 212 27 — 27 Outstanding checks (19) — (19) (64) — (64) Total $ 667 $ 16 $ 683 $ 693 $ 16 $ 709
Restrictions on Cash and Cash Equivalents	Cash, Cash Equivalents, Restricted Cash and Funds Held for Clients The following table summarizes our cash, cash equivalents, restricted cash and funds held for clients as reported in our Consolidated Statements of Cash Flows: Three Months Ended March 31, (in millions) 2024 2023 Supplemental schedule of cash and cash equivalents, restricted cash and funds held for clients Cash and cash equivalents $ 693 $ 733 Restricted cash 57 50 Other current assets – funds held for clients (1) 87 35 Deposits – workers’ compensation 198 196 Cash, cash equivalents, restricted cash and funds held for clients beginning of period $ 1,035 $ 1,014 Cash and cash equivalents $ 667 $ 697 Restricted cash 61 48 Other current assets – funds held for clients (1) 46 42 Deposits – workers’ compensation 204 211 Cash, cash equivalents, restricted cash and funds held for clients end of period $ 978 $ 998 ____________________________________ (1) Funds held for clients represent amounts held on behalf of our Traditional Payroll 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

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements Fair Value Measurements (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	The following table summarizes the levels of fair value measurements of our financial assets: March 31, 2024 December 31, 2023 (in millions) Total Level 1 Level 2 Total Level 1 Level 2 Money market funds $ 474 $ 474 $ — $ 730 $ 730 $ — U.S. Treasury bills 16 16 — 16 16 — 490 490 — 746 746 — Deposits - money market funds 42 42 — 22 22 — Total $ 532 $ 532 $ — $ 768 $ 768 $ —
Debt Securities, Available-for-sale	The following is a summary of our available-for-sale marketable securities: (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value March 31, 2024 U.S. Treasury bills $ 16 $ — $ — $ 16 December 31, 2023 U.S. Treasury bills $ 16 $ — $ — $ 16

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity Stockholders' Equity (Tables)	Mar. 31, 2024
Equity, Attributable to Parent [Abstract]
Quarterly dividends declared [Table Text Block]	The Board declared and paid quarterly dividends as follows: (amounts per share) 2024 2023 First quarter $ 0.57 $ 0.52

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of the net income allocated to common shares and the basic and diluted shares used in the net income per share computations	The following table summarizes the net income and the basic and diluted shares used in the earnings per share computations: Three Months Ended (in millions) 2024 2023 Net income $ 79 $ 95 Weighted average common shares outstanding 37 38 Incremental shares from assumed time-vested and performance-based RSU awards 1 1 Adjusted weighted average common shares outstanding 38 39 An insignificant number of shares of time-vested and performance-based RSU awards were excluded from the calculation of diluted earnings per share due to anti-dilution during the three months ended March 31, 2024 and 2023, respectively.

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
Accounting Policies (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 01, 2019	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Unbilled	$ 712		$ 669
Disaggregation of Revenue [Line Items]
Revenues(1)	1,802	$ 1,770
Revenue Composition [Abstract]
Gross billings	11,483	11,451
Worksite employee payroll cost	9,681	9,681
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,802	1,770
Health Insurance Costs [Abstract]
Percentage of our health insurance coverage provided by United	87%
Number of days in advance of the beginning of a reporting quarter United establishes cash funding rates	90 days
Required accumulated cash surplus	$ 9		9
Required deposit equal to approximately one day of claims funding activity	7
Prepaid health insurance, current	24
Amount which plan costs were less than the net premiums paid and owed	33
Premiums owed to United	(63)
Benefits costs incurred (reduced) related to run-off	18	9
Workers' Compensation Costs [Abstract]
Company's maximum economic burden for the first layer of claims per occurrence					$ 1.5	$ 1
Company's maximum aggregate economic burden for claims in excess of 1 million per policy year					$ 6	$ 6
Decrease Increase in accrued workers' compensation costs for changes in estimated losses	$ (9)	$ (8)
U.S. Treasury rates that correspond with the weighted average estimated claim payout period (in hundredths)	4.50%	4%
Incurred but not paid workers compensation liabilities [Abstract]
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustments			220	$ 229
Workers' Compensation Expense	$ 14	$ 16
Workers' Compensation Discount, Changed during period	(3)	(3)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	(16)	(13)
Workers' Compensation Liability	215	229
WorkersCompensationLiabilityNetOfAdminFeesCurrent	60	48
Workers' Compensation Liability, Noncurrent	155	181	163
Workers' Compensation Liability	215	229
Workers compensation administrative fees accrued	4
Undiscounted accrued workers' compensation costs	$ 247	253
Time period incurred claims expected to be paid recorded as restricted cash	1 year
Time period incurred claims expected to be paid included in deposits	Greater than 1 year
Restricted cash	$ 61	48	57	50
Deposits workers compensation	$ 204	211	$ 198	$ 196
Time period estimate of incurred claim costs to be paid included in short-term liabilities	1 year
Time period estimate of incurred claim costs to be paid included in long term liabilities	Greater than 1 year
Northeast [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	$ 509	492
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	509	492
Southeast [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	246	239
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	246	239
Central [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	324	319
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	324	319
Southwest [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	340	340
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	340	340
West [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	366	363
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	366	363
Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenues(1)	17	17
Revenue Composition [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 17	$ 17

Other Balance Sheet Informati_3

Other Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Overnight Holdings	$ 356	$ 611
Short-term Investments	134	135
Cash	212	27
Drafts Payable	(19)	(64)
Cash, Cash Equivalents, and Short-term Investments	683	709
Payroll Withholdings Included in Cash Balance	443	510
Client Prepayments Included in Cash Balance	(34)	(28)
Cash and cash equivalents	667	693	$ 697	$ 733
Restricted cash	61	57	48	50
Funds Held for Clients	46	87	42	35
Deposits workers compensation	204	198	211	196
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total	978	1,035	998	1,014
Supplemental cash flow information:
Restricted cash	61	57	48	50
Funds Held for Clients	46	87	42	35
Deposits workers compensation	204	198	211	196
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total	978	1,035	$ 998	$ 1,014
Money Market Funds [Member]
Cash and Cash Equivalents [Line Items]
Overnight Holdings	0	0
Short-term Investments	16	16
Cash	0	0
Drafts Payable	0	0
Cash, Cash Equivalents, and Short-term Investments	16	16
Cash and Cash Equivalents [Member]
Cash and Cash Equivalents [Line Items]
Overnight Holdings	356	611
Short-term Investments	118	119
Cash	212	27
Drafts Payable	(19)	(64)
Cash, Cash Equivalents, and Short-term Investments	$ 667	$ 693

Fair Value Measurements Fair _3

Fair Value Measurements Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
US Government Securities, at Carrying Value	$ 0	$ 0
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	16	16
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale	16	16
Fair Value, Inputs, Level 1, Level 2, and Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	474	730
US Government Securities, at Carrying Value	16	16
US Government Securities, at Carrying Value	42	22
Assets, Fair Value Disclosure	532	768
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	474	730
US Government Securities, at Carrying Value	16	16
US Government Securities, at Carrying Value	42	22
Assets, Fair Value Disclosure	532	768
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
US Government Securities, at Carrying Value	0	0
Assets, Fair Value Disclosure	$ 0	$ 0

Long-term Debt (Details)

Long-term Debt (Details) $ in Millions	3 Months Ended
Long-term Debt (Details) $ in Millions	Mar. 31, 2024 USD ($) conversionRatio	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 650
Maximum borrowing capacity	$ 700
Percentage Of Subsidiary Stock Securing Debt \| conversionRatio	1
Long-term debt	$ 369	$ 369
Letters of Credit Outstanding, Amount	1
Line of Credit Facility, Remaining Borrowing Capacity	$ 280
Long-Term Debt, Maturity Date	Jun. 30, 2027
Applicable Margin Federal Funds Rate	0.50%
Adjusted Term SOFR Rate Plus Applicable Margin	2%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Line of Credit Facility, Interest Rate During Period	7.20%
Minimum [Member]
Line of Credit Facility [Line Items]
Adjusted Term SOFR rate	0.10%
Maximum [Member]
Line of Credit Facility [Line Items]
Adjusted Term SOFR rate	0.25%
Base Rate [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0%
Base Rate [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Maximum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.25%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Aggregate number of shares repurchased during the period (in shares)	232,891
Shares repurchased under the program (in shares)	53,744
Authorized to repurchased additional shares under repurchase program (in shares)	1,915,818
Shares withheld for tax withholding obligations for the vesting of restricted stock awards (in shares)	179,147
Dividends declared per share of common stock (in dollars per share)	$ 0.57	$ 0.52
Payments of Ordinary Dividends, Common Stock	$ (21)	$ (20)

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 79	$ 95
Weighted average common shares outstanding basic (in shares)	37	38
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	1	1
Weighted Average Number of Shares Outstanding, Diluted	38	39