XML 37 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 91 $ 63
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15 18
Noncash lease expense 4 0
Stock based compensation 9 9
Changes in operating assets and liabilities:    
Accounts receivable, net 0 1
Unbilled revenue, net (95) (9)
Prepaid expenses, net (3) (12)
Accounts payable and other current liabilities 29 9
Client deposits (6) (19)
Accrued wages 38 17
Accrued health insurance costs, net (2) 0
Accrued workers' compensation costs, net 3 (2)
Payroll taxes payable and other payroll withholdings (334) (180)
Operating lease liabilities (5) (4)
Other assets (28) (30)
Other liabilities 2 (3)
Net cash used in operating activities (282) (142)
Investing activities    
Purchases of marketable securities (155) (30)
Proceeds from sales and maturities of marketable securities 67 31
Acquisitions of property and equipment (6) (12)
Net cash used in investing activities (94) (11)
Financing activities    
Repurchase of common stock (40) (38)
Proceeds from issuance of common stock 0 1
Awards effectively repurchased for required employee withholding taxes (3) (4)
Proceeds from revolving credit agreement borrowings 234 0
Repayment of debt (6) (6)
Net cash provided by (used in) financing activities 185 (47)
Net decrease in cash and cash equivalents, unrestricted and restricted (191) (200)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,456 1,349
End of period 1,265 1,149
Supplemental disclosures of cash flow information    
Interest paid 3 4
Income taxes paid, net 1 1
Supplemental schedule of noncash investing and financing activities    
Payable for purchase of property and equipment $ 1 $ 5