TRINET GROUP INC

For the period ended Mar 31, 2025. Filed Apr 25, 2025.

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, 2025 · Filed Apr 25, 2025

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)

	March 31,	December 31,
(in millions, except share and per share data)	2025	2024
Assets
Current assets:
Cash and cash equivalents	$349	$360
Restricted cash, cash equivalents and investments	1,024	1,413
Accounts receivable, net	21	32
Payroll funds receivable	478	349
Prepaid expenses, net	60	64
Other payroll assets	881	916
Other current assets	44	46
Total current assets	2,857	3,180
Restricted cash, cash equivalents and investments, noncurrent	134	145
Property and equipment, net	9	10
Operating lease right-of-use asset	22	24
Goodwill	461	461
Software and other intangible assets, net	146	156
Other assets	146	143
Total assets	$3,775	$4,119
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and other current liabilities	$82	$89
Revolving credit agreement borrowings	74	75
Client deposits and other client liabilities	49	76
Accrued wages	544	580
Accrued health insurance costs, net	189	189
Accrued workers' compensation costs, net	45	44
Payroll tax liabilities and other payroll withholdings	1,645	1,906
Operating lease liabilities	12	13
Insurance premiums and other payables	6	9
Total current liabilities	2,646	2,981
Long-term debt, noncurrent	909	908
Accrued workers' compensation costs, noncurrent, net	111	110
Deferred taxes	10	11
Operating lease liabilities, noncurrent	24	26
Other non-current liabilities	12	14
Total liabilities	3,712	4,050
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, 2025 and December 31, 2024)
Common stock and additional paid-in capital	1,070	1,056
($0.000025 par value per share; 750,000,000 shares authorized; 48,397,519 and 49,527,506 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively)
Accumulated deficit	(1,006)	(984)
Accumulated other comprehensive loss	(1)	(3)
Total stockholders' equity	63	69
Total liabilities & stockholders' equity	$3,775	$4,119

TRINET	26	2025 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.