TRINET GROUP INC
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
TNET$66.30+2.6%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income and Comprehensive Income
| FINANCIAL STATEMENTS | Table of Contents |
|---|
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions except per share data) | 2023 | 2022 | 2021 |
| Professional service revenues | $756 | $754 | $639 |
| Insurance service revenues | 4,166 | 4,131 | 3,901 |
| Total revenues | 4,922 | 4,885 | 4,540 |
| Insurance costs | 3,513 | 3,463 | 3,339 |
| Cost of providing services | 307 | 303 | 264 |
| Sales and marketing | 285 | 242 | 202 |
| General and administrative | 211 | 241 | 176 |
| Systems development and programming | 65 | 73 | 50 |
| Depreciation and amortization of intangible assets | 72 | 64 | 54 |
| Total costs and operating expenses | 4,453 | 4,386 | 4,085 |
| Operating income | 469 | 499 | 455 |
| Other income (expense): | |||
| Interest expense, bank fees and other | (40) | (39) | (20) |
| Interest income | 72 | 22 | 6 |
| Income before provision for income taxes | 501 | 482 | 441 |
| Income taxes | 126 | 127 | 103 |
| Net income | $375 | $355 | $338 |
| Other comprehensive (loss) income, net of income taxes | 3 | (4) | (5) |
| Comprehensive income | $378 | $351 | $333 |
| Net income per share: | |||
| Basic | $6.61 | $5.66 | $5.13 |
| Diluted | $6.56 | $5.61 | $5.07 |
| Weighted average shares: | |||
| Basic | 57 | 63 | 66 |
| Diluted | 57 | 64 | 67 |
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