XML 47 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Cash, Cash Equivalents and Investments - Unrestricted and Restricted
 6 Months Ended
Jun. 30, 2022
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
Under the terms of the agreements with certain of our workers' compensation and health benefit insurance carriers, we are required to maintain collateral in trust accounts for the benefit of specified insurance carriers and to reimburse the carriers’ claim payments within our deductible layer. We invest a portion of the collateral amounts in marketable securities. We report the current and noncurrent portions of these trust accounts as restricted cash, cash equivalents and investments on the consolidated balance sheets.
We require our clients to prefund their payroll and related taxes and other withholding liabilities before we process our clients' payroll. This prefund is included in restricted cash, cash equivalents and investments as payroll funds collected, which is designated to pay pending payrolls, payroll tax liabilities and other payroll withholdings.
We also invest available corporate funds, primarily in fixed income securities which meet the requirements of our corporate investment policy and are classified as available for sale (AFS).
Our total cash, cash equivalents and investments are summarized below:
June 30, 2022December 31, 2021
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$336 $— $336 $612 $— $612 
Investments— 120 120 — 135 135 
Restricted cash, cash equivalents and investments:
Payroll funds collected836 — 836 1,012 — 1,012 
Collateral for health benefits claims27 105 132 25 98 123 
Collateral for workers' compensation claims57 — 57 58 — 58 
Other security deposits3 — 3 2 — 2 
Total restricted cash, cash equivalents and investments923 105 1,028 1,097 98 1,195 
Investments, noncurrent— 159 159 — 168 168 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims24 121 145 29 137 166 
Other security deposits4 — 4 — — — 
Total$1,287 $505 $1,792 $1,738 $538 $2,276