XML 46 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 156 $ 196
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization of intangible assets 50 56
Amortization of deferred costs 36 32
Amortization of ROU asset, lease modification, impairment, and abandonment 5 4
Deferred income taxes (3) 3
Stock based compensation 48 53
Other 4 3
Changes in operating assets and liabilities:    
Accounts receivable, net 1 (5)
Prepaid expenses, net 14 (12)
Other assets (30) (42)
Other payroll assets 0 3
Accounts payable and other liabilities 0 (10)
Client deposits and other client liabilities (1) (9)
Accrued wages (15) (23)
Accrued health insurance costs, net 0 (2)
Accrued workers' compensation costs, net 0 (14)
Payroll taxes liabilities and other payroll withholdings (12) (8)
Operating lease liabilities (11) (11)
Net cash provided by operating activities 242 214
Investing activities    
Purchases of marketable securities (59) (161)
Proceeds from sale and maturity of marketable securities 82 196
Acquisitions of property and equipment and software (51) (60)
Proceeds from sale of business 1 0
Net cash used in investing activities (27) (25)
Financing activities    
Change in WSE and TriNet Trust related assets and liabilities, net (303) (490)
Repurchase of common stock (122) (155)
Proceeds from issuance of common stock 6 6
Awards effectively repurchased for required employee withholding taxes (12) (18)
Repayment of revolving credit agreement borrowings (90) (25)
Dividends paid (39) (25)
Net cash used in financing activities (560) (707)
Net change in cash and cash equivalents, unrestricted and restricted (345) (518)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,691 1,466
End of period 1,346 948
Supplemental disclosures of cash flow information    
Interest paid 51 55
Income taxes paid, net 27 67
Supplemental schedule of noncash investing and financing activities    
Cash dividend declared, but not yet paid 13 12
Payable for purchase of property and equipment 3 2
Receivable from sale of business $ 6 $ 0