TRINET GROUP INC

For the period ended Mar 31, 2024. Filed Apr 26, 2024.

About 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.

Mar 31, 2024 · Filed Apr 26, 2024

TNET$66.30+2.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets

FINANCIAL STATEMENTS	Table of Contents

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

	March 31,	December 31,
(in millions, except share and per share data)	2024	2023
Assets
Current assets:
Cash and cash equivalents	$298	$287
Investments	85	65
Restricted cash, cash equivalents and investments	1,059	1,269
Accounts receivable, net	11	18
Unbilled revenue, net	467	447
Prepaid expenses, net	79	67
Other payroll assets	791	381
Other current assets	50	44
Total current assets	2,840	2,578
Restricted cash, cash equivalents and investments, noncurrent	152	158
Investments, noncurrent	161	143
Property and equipment, net	15	17
Operating lease right-of-use asset	22	24
Goodwill	462	462
Software and other intangible assets, net	174	172
Other assets	142	139
Total assets	$3,968	$3,693
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities	$122	$87
Revolving credit agreement borrowings	109	109
Client deposits and other client liabilities	51	65
Accrued wages	537	515
Accrued health insurance costs, net	167	175
Accrued workers' compensation costs, net	51	50
Payroll tax liabilities and other payroll withholdings	1,611	1,438
Operating lease liabilities	14	14
Insurance premiums and other payables	7	10
Total current liabilities	2,669	2,463
Long-term debt, noncurrent	984	984
Accrued workers' compensation costs, noncurrent, net	120	120
Deferred taxes	13	13
Operating lease liabilities, noncurrent	27	30
Other non-current liabilities	12	5
Total liabilities	3,825	3,615
Commitments and contingencies (see Note 5)
Stockholders' equity:
Preferred stock	—	—
($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at March 31, 2024 and December 31, 2023)
Common stock and additional paid-in capital	996	976
($0.000025 par value per share; 750,000,000 shares authorized; 50,573,176 and 50,664,471 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively)
Accumulated deficit	(848)	(896)
Accumulated other comprehensive loss	(5)	(2)
Total stockholders' equity	143	78
Total liabilities & stockholders' equity	$3,968	$3,693

TRINET	28	2024 Q1 FORM 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.