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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 370.0 $ 402.0
Accounts receivable 44.9 39.2
Prepaid expenses 47.5 44.4
Inventory 1.7 1.4
Income tax receivable 78.2 11.9
Deferred contract costs 159.5 140.4
Current assets before funds held for clients 701.8 639.3
Funds held for clients 5,137.0 3,665.5
Total current assets 5,838.8 4,304.8
Property and equipment, net 687.3 561.4
Intangible assets, net 37.4 46.2
Goodwill 51.9 51.9
Long-term deferred contract costs 857.4 783.6
Operating lease right-of-use assets 89.4 80.6
Other assets 36.5 31.4
Total assets 7,598.7 5,859.9
Current liabilities:    
Accounts payable 6.6 23.9
Accrued commissions and bonuses 28.2 33.0
Accrued payroll and vacation 60.1 59.0
Deferred revenue 28.3 30.0
Operating lease liabilities 28.4 20.4
Accrued expenses and other current liabilities 79.8 74.8
Current liabilities before client funds obligation 231.4 241.1
Client funds obligation 5,137.0 3,665.7
Total current liabilities 5,368.4 3,906.8
Deferred income tax liabilities, net 304.4 149.7
Long-term deferred revenue 121.9 114.6
Long-term operating lease liabilities 61.9 63.0
Other long-term liabilities 10.6 49.9
Total long-term liabilities 498.8 377.2
Total liabilities 5,867.2 4,284.0
Commitments and contingencies (Note 12 "Commitments and Contingencies")
Stockholders’ equity:    
Common stock, $0.01 par value (100.0 shares authorized, 63.6 and 63.0 shares issued at December 31, 2025 and December 31, 2024, respectively; 54.8 and 55.9 shares outstanding at December 31, 2025 and December 31, 2024, respectively) 0.6 0.6
Additional paid-in capital 878.4 724.8
Retained earnings 2,255.6 1,887.5
Accumulated other comprehensive earnings (loss) 0.3 (0.6)
Treasury stock, at cost (8.8 and 7.1 shares at December 31, 2025 and December 31, 2024, respectively) (1,403.4) (1,036.4)
Total stockholders’ equity 1,731.5 1,575.9
Total liabilities and stockholders’ equity $ 7,598.7 $ 5,859.9