TRINET GROUP INC

For the period ended Sep 30, 2024. Filed Oct 25, 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.

Sep 30, 2024 · Filed Oct 25, 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)

	September 30,	December 31,
(in millions, except share and per share data)	2024	2023
Assets
Current assets:
Cash and cash equivalents	$251	$287
Investments	50	65
Restricted cash, cash equivalents and investments	780	1,269
Accounts receivable, net	15	18
Unbilled revenue, net	511	447
Prepaid expenses, net	64	67
Other payroll assets	883	381
Other current assets	51	44
Total current assets	2,605	2,578
Restricted cash, cash equivalents and investments, noncurrent	153	158
Investments, noncurrent	145	143
Property and equipment, net	14	17
Operating lease right-of-use asset	30	24
Goodwill	462	462
Software and other intangible assets, net	179	172
Other assets	141	139
Total assets	$3,729	$3,693
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities	$82	$87
Revolving credit agreement borrowings	75	109
Client deposits and other client liabilities	39	65
Accrued wages	566	515
Accrued health insurance costs, net	193	175
Accrued workers' compensation costs, net	44	50
Payroll tax liabilities and other payroll withholdings	1,420	1,438
Operating lease liabilities	15	14
Insurance premiums and other payables	6	10
Total current liabilities	2,440	2,463
Long-term debt, noncurrent	993	984
Accrued workers' compensation costs, noncurrent, net	107	120
Deferred taxes	18	13
Operating lease liabilities, noncurrent	30	30
Other non-current liabilities	12	5
Total liabilities	3,600	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 September 30, 2024 and December 31, 2023)
Common stock and additional paid-in capital	1,037	976
($0.000025 par value per share; 750,000,000 shares authorized; 49,611,791 and 50,664,471 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively)
Accumulated deficit	(910)	(896)
Accumulated other comprehensive loss	2	(2)
Total stockholders' equity	129	78
Total liabilities & stockholders' equity	$3,729	$3,693

TRINET	32	2024 Q3 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.