TRINET GROUP INC

For the period ended Dec 31, 2024. Filed Feb 13, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 13, 2025

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

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Contents

Item 8. Consolidated Statements of Cash Flows

FINANCIAL STATEMENTS	Table of Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
(in millions)	2024	2023	2022
Operating activities
Net income	$173	$375	$355
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangible assets	75	72	64
Amortization of deferred costs	44	40	38
Amortization of ROU asset, lease modification, impairment, and abandonment	11	9	25
Stock based compensation	65	59	62
Accretion of discount rate on lease liabilities	2	2	2
Provision for doubtful accounts	2	3	2
Deferred income taxes	(2)	5	(22)
Losses from disposition of assets	—	1	6
Losses and impairment on investments	(1)	1	18
Impairment of intangibles	25	—	—
Changes in operating assets and liabilities:
Accounts receivable, net	(2)	(3)	4
Prepaid expenses, net	(18)	4	19
Other payroll assets	3	(3)	—
Accounts payable and other current liabilities	(7)	(10)	(13)
Client deposits and other client liabilities	(10)	23	—
Accrued wages	(5)	7	14
Accrued health insurance costs, net	(2)	7	—
Accrued workers' compensation costs, net	(11)	(8)	(7)
Payroll taxes payable and other payroll withholdings	(3)	8	2
Operating lease liabilities	(15)	(17)	(17)
Other assets	(52)	(35)	(54)
Other liabilities	7	(1)	(1)
Net cash provided by operating activities	279	539	497
Investing activities
Purchases of marketable securities	(190)	(276)	(410)
Proceeds from sale and maturity of marketable securities	421	286	469
Acquisitions of property and equipment and projects in process	(78)	(75)	(56)
Acquisitions of subsidiaries, net of cash acquired	—	—	(229)
Other Investments	—	(5)	—
Net cash provided by (used in) investing activities	153	(70)	(226)
Financing activities
Change in WSE and TriNet Trust related assets and liabilities, net	139	6	65
Repurchase of common stock	(183)	(1,122)	(523)
Proceeds from issuance of common stock	12	15	11
Payment of long-term financing costs and debt issuance costs	—	(9)	—
Proceeds from issuance of 2031 Notes	—	400	—
Proceeds from revolving credit agreement borrowings	—	695	—
Repayment of borrowings under revolving credit agreement	(110)	(495)	—
Awards effectively repurchased for required employee withholding taxes	(28)	(30)	(24)
Dividends paid	(37)	—	—
Net cash used in financing activities	(207)	(540)	(471)
Effect of exchange rate changes on cash and cash equivalents	—	—	(1)
Net increase (decrease) in cash and cash equivalents, unrestricted and restricted	225	(71)	(201)
Cash and cash equivalents, unrestricted and restricted:
Beginning of period	1,466	1,537	1,738
End of period	$1,691	$1,466	$1,537
Supplemental disclosures of cash flow information
Interest paid	$59	$25	$18
Income taxes paid, net	76	114	128
Supplemental schedule of noncash investing and financing activities
Cash dividend declared, but not yet paid	$12	$—	$—
Payable for purchase of property and equipment	$2	$4	$6
Acquisitions of subsidiaries paid in stock	$—	$—	$17

FINANCIAL STATEMENTS	Table of Contents

ContentsView on SEC.gov

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