CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 330 $ 336
Restricted cash, cash equivalents and investments 699 1,280
Worksite employee related assets:    
Unbilled revenue (net of advance collections of $12 and $12 at March 31, 2018 and December 31, 2017, respectively) 286 297
Accounts receivable 8 20
Prepaid insurance premiums and other insurance related receivables 33 26
Other payroll assets 41 17
Worksite employee related assets 368 360
Prepaid expenses and other current assets 22 15
Total current assets 1,419 1,991
Restricted cash and available for sale investments 182 162
Workers' compensation collateral receivable 40 39
Property and equipment, net 74 70
Goodwill and other intangible assets, net 314 315
Other assets 18 16
Total assets 2,047 2,593
Current liabilities:    
Accounts payable and other current liabilities 46 59
Accrued corporate wages 31 40
Notes payable 43 40
Worksite employee related liabilities:    
Accrued wages 284 289
Client deposits 26 52
Payroll tax liabilities and other payroll withholdings 500 1,034
Health benefits loss reserves (net of prepayments of $30 and $19 at March 31, 2018 and December 31, 2017, respectively) 150 151
Workers' compensation loss reserves (net of collateral paid of $5 and $6 at March 31, 2018 and December 31, 2017, respectively) 67 67
Insurance premiums and other payables 25 25
Worksite employee related liabilities 1,052 1,618
Total current liabilities 1,172 1,757
Notes payable, noncurrent 370 383
Workers' compensation loss reserves (net of collateral paid of $XX and $6 at March 31, 2018 and December 31, 2017, respectively) 162 165
Deferred income taxes 71 68
Other liabilities 10 14
Total liabilities 1,785 2,387
Commitments and contingencies (see Note 9)
Stockholders’ equity:    
Preferred stock ($0.000025 par value per share; 20,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017) 0 0
Common stock and additional paid-in capital ($0.000025 par value per share; 750,000,000 shares authorized; 70,363,251 and 69,818,392 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively) 595 583
Accumulated deficit (332) (377)
Accumulated other comprehensive loss (1) 0
Total stockholders’ equity 262 206
Total liabilities and stockholders’ equity $ 2,047 $ 2,593