v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 142 $ 122
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 36 33
Amortization of deferred costs 26 23
Amortization of ROU asset, lease modification, impairment, and abandonment 4 3
Deferred income taxes 0 (1)
Stock based compensation 33 31
Loss from disposition of assets 0 1
Other 2 3
Changes in operating assets and liabilities:    
Accounts receivable, net 1 1
Prepaid expenses, net 25 9
Other assets (29) (18)
Accounts payable and other liabilities 11 (5)
Client deposits and other client liabilities (2) (1)
Accrued wages (6) (10)
Accrued health insurance costs, net 0 1
Accrued workers' compensation costs, net (2) (1)
Payroll taxes liabilities and other payroll withholdings (2) (14)
Operating lease liabilities (2) (7)
Net cash provided by operating activities 237 170
Investing activities    
Purchases of marketable securities (76) (41)
Proceeds from sale and maturity of marketable securities 61 67
Acquisitions of property and equipment and software (47) (34)
Proceeds from sale of business 0 1
Acquisition of subsidiary, net of cash acquired (22) 0
Net cash used in investing activities (84) (7)
Financing activities    
Change in WSE and TriNet Trust related assets and liabilities, net (655) (310)
Repurchase of common stock (76) (91)
Proceeds from issuance of common stock 5 7
Awards effectively repurchased for required employee withholding taxes (5) (8)
Dividends paid (26) (26)
Net cash used in financing activities (757) (428)
Effect of exchange rate changes on cash and cash equivalents (1) 0
Net change in cash and cash equivalents, unrestricted and restricted (605) (265)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,902 1,691
End of period 1,297 1,426
Supplemental disclosures of cash flow information    
Interest paid 25 27
Income taxes paid, net 8 26
Supplemental schedule of noncash investing and financing activities    
Cash dividend declared, but not yet paid 13 13
Payable for purchase of property and equipment 9 3
Receivable from sale of business $ 0 $ 6