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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 179,350 $ 124,080 $ 138,237
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,660 38,547 31,189
Amortization of marketable securities 843 884 783
Stock-based compensation 50,080 40,623 60,145
Deferred income taxes (10,641) 4,711 (5,647)
Changes in operating assets and liabilities:      
Accounts receivable (109,458) (120,560) 73,033
Prepaid insurance (421) (1,121) 254
Other current assets (5,206) (13,851) 4,032
Other assets and ROU assets 1,757 4,356 15,725
Accounts payable 1,320 209 1,638
Payroll taxes and other payroll deductions payable 88,193 89,932 100,712
Accrued worksite employee payroll expense 103,744 74,817 (67,023)
Accrued health insurance costs 3,401 17,316 11,505
Accrued workers’ compensation costs (10,114) (197) (3,052)
Accrued corporate payroll, commissions and other accrued liabilities (5,179) 14,716 (20,763)
Income taxes payable/receivable 19,362 (14,307) 5,585
Total adjustments 168,341 136,075 208,116
Net cash provided by operating activities 347,691 260,155 346,353
Marketable securities:      
Purchases (46,748) (58,202) (50,624)
Proceeds from maturities 44,955 60,045 49,635
Proceeds from dispositions 0 0 484
Property and equipment purchases (30,329) (32,856) (98,116)
Net cash used in investing activities (32,122) (31,013) (98,621)
Cash flows from financing activities      
Purchase of treasury stock 73,285 69,725 99,415
Dividends paid (76,592) (144,179) (61,869)
Borrowings under long-term debt agreement 0 0 100,000
Other 8,727 5,831 7,701
Net cash used in financing activities (141,150) (208,073) (53,583)
Net increase in cash, cash equivalents, restricted cash and funds held for clients 174,419 21,069 194,149
Cash, cash equivalents, restricted cash and funds held for clients at beginning of year   786,699 592,550
Cash, cash equivalents, restricted cash and funds held for clients at end of year 1,013,919   786,699
Supplemental disclosures of cash flow information      
Income taxes, net 57,354 53,835 51,097
Cash paid for interest 13,402 7,268 8,977
ROU assets obtained in exchange for lease obligations 9,736 19,572 $ 22,770
Reclassification, Other [Member]      
Cash flows from financing activities      
Cash, cash equivalents, restricted cash and funds held for clients at beginning of year 839,500    
Cash, cash equivalents, restricted cash and funds held for clients at end of year   839,500  
Previously Reported [Member]      
Cash flows from financing activities      
Cash, cash equivalents, restricted cash and funds held for clients at beginning of year $ 807,768    
Cash, cash equivalents, restricted cash and funds held for clients at end of year   $ 807,768