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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 214 $ 230
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 36 29
Amortization of deferred costs 20 18
Amortization of ROU asset, lease modification, impairment, and abandonment 2 6
Stock based compensation 28 30
Other 2 2
Changes in operating assets and liabilities:    
Accounts receivable, net (1) 8
Unbilled revenue, net 12 16
Other assets and prepaid expenses, net (24) (17)
Other payroll assets 68 (4)
Accounts payable and other liabilities 0 2
Client deposits and other client liabilities (27) (23)
Accrued wages 0 196
Accrued health insurance costs, net (5) (23)
Accrued workers' compensation costs, net (9) (9)
Payroll taxes payable and other payroll withholdings (241) (328)
Operating lease liabilities (8) (8)
Net cash provided by operating activities 67 125
Investing activities    
Purchases of marketable securities (170) (157)
Proceeds from sale and maturity of marketable securities 173 175
Acquisitions of property and equipment (34) (26)
Acquisition of subsidiary, net of cash acquired 0 (183)
Net cash used in investing activities (31) (191)
Financing activities    
Repurchase of common stock (98) (382)
Proceeds from issuance of common stock 7 5
Revolver drawdown 495 0
Revolver repayment (495) 0
Awards effectively repurchased for required employee withholding taxes (9) (8)
Net cash used in financing activities (100) (385)
Net decrease in cash and cash equivalents, unrestricted and restricted (64) (451)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,537 1,738
End of period 1,473 1,287
Supplemental disclosures of cash flow information    
Interest paid 12 9
Income taxes paid, net 58 37
Supplemental schedule of noncash investing and financing activities    
Payable for purchase of property and equipment $ 5 $ 3