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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 101 $ 91
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19 15
Amortization of ROU 3 4
Accretion of discount rate on lease liabilities 1 0
Amortization of premium of investments 1 0
Stock based compensation 11 9
Changes in operating assets and liabilities:    
Accounts receivable, net 13 0
Unbilled revenue, net (94) (95)
Prepaid expenses, net 5 (3)
Accounts payable and other current liabilities 33 29
Client deposits and other client liabilities 17 (6)
Accrued wages 179 38
Accrued health insurance costs, net (7) (2)
Accrued workers' compensation costs, net 0 3
Payroll taxes payable and other payroll withholdings (426) (334)
Operating lease liabilities (3) (5)
Other assets (24) (28)
Other liabilities (4) 2
Net cash used in operating activities (175) (282)
Investing activities    
Purchases of marketable securities (82) (155)
Proceeds from sale and maturity of marketable securities 84 67
Acquisitions of property and equipment (5) (6)
Net cash used in investing activities (3) (94)
Financing activities    
Repurchase of common stock (60) (40)
Awards effectively repurchased for required employee withholding taxes (5) (3)
Proceeds from revolving credit agreement borrowings 0 234
Payment of long-term financing fees (2) 0
Payment of debt issuance costs (7) 0
Proceeds from issuance of 2029 Notes 500 0
Repayment of debt (370) (6)
Net cash provided by financing activities 56 185
Net decrease in cash and cash equivalents, unrestricted and restricted (122) (191)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,643 1,456
End of period 1,521 1,265
Supplemental disclosures of cash flow information    
Interest paid 2 3
Income taxes paid, net 2 1
Supplemental schedule of noncash investing and financing activities    
Payable for purchase of property and equipment $ 3 $ 1