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Unaudited Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 532.2 $ 402.0
Accounts receivable 39.9 39.2
Prepaid expenses 55.7 44.4
Inventory 1.6 1.4
Income tax receivable 6.3 11.9
Deferred contract costs 150.1 140.4
Current assets before funds held for clients 785.8 639.3
Funds held for clients 1,616.9 3,665.5
Total current assets 2,402.7 4,304.8
Property and equipment, net 602.1 561.4
Intangible assets, net 44.3 46.2
Goodwill 51.9 51.9
Long-term deferred contract costs 822.3 783.6
Operating lease right-of-use assets 76.8 80.6
Other assets 31.1 31.4
Total assets 4,031.2 5,859.9
Current liabilities:    
Accounts payable 19.7 23.9
Accrued commissions and bonuses 26.3 33.0
Accrued payroll and vacation 59.0 59.0
Deferred revenue 30.3 30.0
Operating lease liabilities 21.9 20.4
Accrued expenses and other current liabilities 75.1 74.8
Current liabilities before client funds obligation 232.3 241.1
Client funds obligation 1,616.9 3,665.7
Total current liabilities 1,849.2 3,906.8
Deferred income tax liabilities, net 150.2 149.7
Long-term deferred revenue 119.4 114.6
Long-term operating lease liabilities 59.3 63.0
Other long-term liabilities 51.2 49.9
Total long-term liabilities 380.1 377.2
Total liabilities 2,229.3 4,284.0
Commitments and contingencies (Note 12 "Commitments and Contingencies")
Stockholders' equity:    
Common stock, $0.01 par value (100.0 shares authorized, 63.5 and 63.0 shares issued at June 30, 2025 and December 31, 2024, respectively; 56.2 and 55.9 shares outstanding at June 30, 2025 and December 31, 2024, respectively) 0.6 0.6
Additional paid-in capital 801.9 724.8
Retained earnings 2,073.3 1,887.5
Accumulated other comprehensive earnings (loss) 0.2 (0.6)
Treasury stock, at cost (7.2 and 7.1 shares at June 30, 2025 and December 31, 2024, respectively) (1,074.1) (1,036.4)
Total stockholders’ equity 1,801.9 1,575.9
Total liabilities and stockholders’ equity $ 4,031.2 $ 5,859.9