CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2018 |
Mar. 31, 2017 |
| Operating activities |
|
|
| Net income |
$ 54
|
$ 29
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
10
|
8
|
| Stock-based compensation |
9
|
6
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid income taxes |
13
|
15
|
| Prepaid expenses and other current assets |
(9)
|
2
|
| Workers' compensation collateral receivable |
(1)
|
(3)
|
| Other assets |
(2)
|
0
|
| Accounts payable and other current liabilities |
(15)
|
2
|
| Accrued corporate wages |
(9)
|
10
|
| Workers' compensation loss reserves and other non-current liabilities |
(6)
|
8
|
| Worksite employee related assets |
(14)
|
4
|
| Worksite employee related liabilities |
(566)
|
(242)
|
| Net cash used in operating activities |
(536)
|
(161)
|
| Investing activities |
|
|
| Proceeds from maturity of marketable securities |
14
|
4
|
| Acquisitions of property and equipment |
(12)
|
(11)
|
| Net cash provided by (used in) investing activities |
2
|
(7)
|
| Financing activities |
|
|
| Repurchase of common stock |
(8)
|
(28)
|
| Proceeds from issuance of common stock on exercised options |
3
|
2
|
| Awards effectively repurchased for required employee withholding taxes |
(4)
|
(2)
|
| Repayment of notes payable |
(10)
|
(9)
|
| Net cash used in financing activities |
(19)
|
(37)
|
| Net increase (decrease) in cash and cash equivalents, unrestricted and restricted |
(553)
|
(205)
|
| Cash and cash equivalents, unrestricted and restricted: |
|
|
| Beginning of period |
1,738
|
1,233
|
| End of period |
1,185
|
1,028
|
| Supplemental disclosures of cash flow information |
|
|
| Interest paid |
4
|
4
|
| Income taxes paid (refunded), net |
0
|
(1)
|
| Supplemental schedule of noncash investing and financing activities |
|
|
| Payable for purchase of property and equipment |
2
|
2
|
| Supplemental schedule of cash and cash equivalents |
|
|
| Net increase (decrease) in unrestricted cash and cash equivalents |
(6)
|
32
|
| Net increase (decrease) in restricted cash and cash equivalents |
$ (547)
|
$ (237)
|