TRINET GROUP INC

For the period ended Jun 30, 2024. Filed Jul 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.

Jun 30, 2024 · Filed Jul 26, 2024

TNET$64.63-3.0%Stored close · as of Nov 9, 2026

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Contents

Condensed Consolidated Balance Sheets

FINANCIAL STATEMENTS	Table of Contents

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

	June 30,	December 31,
(in millions, except share and per share data)	2024	2023
Assets
Current assets:
Cash and cash equivalents	$177	$287
Investments	72	65
Restricted cash, cash equivalents and investments	893	1,269
Accounts receivable, net	15	18
Unbilled revenue, net	485	447
Prepaid expenses, net	76	67
Other payroll assets	800	381
Other current assets	48	44
Total current assets	2,566	2,578
Restricted cash, cash equivalents and investments, noncurrent	163	158
Investments, noncurrent	156	143
Property and equipment, net	14	17
Operating lease right-of-use asset	21	24
Goodwill	462	462
Software and other intangible assets, net	176	172
Other assets	145	139
Total assets	$3,703	$3,693
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities	$85	$87
Revolving credit agreement borrowings	84	109
Client deposits and other client liabilities	70	65
Accrued wages	558	515
Accrued health insurance costs, net	182	175
Accrued workers' compensation costs, net	43	50
Payroll tax liabilities and other payroll withholdings	1,421	1,438
Operating lease liabilities	13	14
Insurance premiums and other payables	7	10
Total current liabilities	2,463	2,463
Long-term debt, noncurrent	984	984
Accrued workers' compensation costs, noncurrent, net	107	120
Deferred taxes	13	13
Operating lease liabilities, noncurrent	24	30
Other non-current liabilities	12	5
Total liabilities	3,603	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 June 30, 2024 and December 31, 2023)
Common stock and additional paid-in capital	1,021	976
($0.000025 par value per share; 750,000,000 shares authorized; 49,710,395 and 50,664,471 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively)
Accumulated deficit	(916)	(896)
Accumulated other comprehensive loss	(5)	(2)
Total stockholders' equity	100	78
Total liabilities & stockholders' equity	$3,703	$3,693

TRINET	32	2024 Q2 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.