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Unaudited Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 520.8 $ 402.0
Accounts receivable 31.3 39.2
Prepaid expenses 48.7 44.4
Inventory 1.4 1.4
Income tax receivable   11.9
Deferred contract costs 146.0 140.4
Current assets before funds held for clients 748.2 639.3
Funds held for clients 2,241.2 3,665.5
Total current assets 2,989.4 4,304.8
Property and equipment, net 567.1 561.4
Intangible assets, net 45.2 46.2
Goodwill 51.9 51.9
Long-term deferred contract costs 810.0 783.6
Operating lease right-of-use assets 77.9 80.6
Other assets 31.1 31.4
Total assets 4,572.6 5,859.9
Current liabilities:    
Accounts payable 9.1 23.9
Income tax payable 43.0  
Accrued commissions and bonuses 19.6 33.0
Accrued payroll and vacation 46.5 59.0
Deferred revenue 30.2 30.0
Operating lease liabilities 21.0 20.4
Accrued expenses and other current liabilities 73.1 74.8
Current liabilities before client funds obligation 242.5 241.1
Client funds obligation 2,239.7 3,665.7
Total current liabilities 2,482.2 3,906.8
Deferred income tax liabilities, net 143.7 149.7
Long-term deferred revenue 118.5 114.6
Long-term operating lease liabilities 60.5 63.0
Other long-term liabilities 50.5 49.9
Total long-term liabilities 373.2 377.2
Total liabilities 2,855.4 4,284.0
Commitments and contingencies (Note 12 "Commitments and Contingencies")
Stockholders' equity:    
Common stock, $0.01 par value (100.0 shares authorized, 63.1 and 63.0 shares issued at March 31, 2025 and December 31, 2024, respectively; 56.0 and 55.9 shares outstanding at March 31, 2025 and December 31, 2024, respectively) 0.6 0.6
Additional paid-in capital 752.8 724.8
Retained earnings 2,005.5 1,887.5
Accumulated other comprehensive earnings (loss) (0.1) (0.6)
Treasury stock, at cost (7.1 shares at March 31, 2025 and December 31, 2024) (1,041.6) (1,036.4)
Total stockholders’ equity 1,717.2 1,575.9
Total liabilities and stockholders’ equity $ 4,572.6 $ 5,859.9