TrueBlue Inc
For the period ended Sep 29, 2024. Filed Nov 4, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 29, 2024 · Filed Nov 4, 2024
TBI$12.15-1.7%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets
| (in thousands, except par value and share count data) | September 29,2024 | December 31,2023 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $14,505 | $61,885 |
| Accounts receivable, net of allowance of $1,508 and $2,005, respectively | 225,376 | 252,538 |
| Prepaid expenses and other current assets | 34,532 | 28,894 |
| Income tax receivable | 10,887 | 11,676 |
| Total current assets | 285,300 | 354,993 |
| Property and equipment, net | 91,078 | 104,906 |
| Restricted cash, cash equivalents and investments | 180,124 | 192,985 |
| Deferred income taxes, net | 728 | 35,465 |
| Goodwill | 25,285 | 84,114 |
| Intangible assets, net | 6,428 | 10,525 |
| Operating lease right-of-use assets, net | 51,821 | 49,819 |
| Workers’ compensation claims receivable, net | 48,607 | 53,841 |
| Other assets, net | 13,005 | 12,735 |
| Total assets | $702,376 | $899,383 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable and other accrued expenses | $35,770 | $56,401 |
| Accrued wages and benefits | 64,888 | 80,120 |
| Income tax payable | — | 439 |
| Current portion of workers’ compensation claims reserve | 36,971 | 44,866 |
| Current operating lease liabilities | 11,856 | 11,902 |
| Other current liabilities | 5,096 | 10,371 |
| Total current liabilities | 154,581 | 204,099 |
| Workers’ compensation claims reserve, less current portion | 129,475 | 151,649 |
| Long-term deferred compensation liabilities | 38,298 | 35,205 |
| Long-term operating lease liabilities | 51,421 | 49,434 |
| Other long-term liabilities | 1,449 | 1,123 |
| Total liabilities | 375,224 | 441,510 |
| Commitments and contingencies (Note 9) | ||
| Shareholders’ equity: | ||
| Preferred stock, $0.131 par value, 20,000,000 shares authorized; No shares issued and outstanding | — | — |
| Common stock, no par value, 100,000,000 shares authorized; 29,497,872 and 31,245,732 shares issued and outstanding | 1 | 1 |
| Accumulated other comprehensive loss | (20,112) | (20,712) |
| Retained earnings | 347,263 | 478,584 |
| Total shareholders’ equity | 327,152 | 457,873 |
| Total liabilities and shareholders’ equity | $702,376 | $899,383 |
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