INSPERITY INC

For the period ended Mar 31, 2024. Filed May 1, 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 May 1, 2024

NSP$49.41-0.8%Stored close · as of Nov 9, 2026

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Contents

Financial Statements Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions)	March 31, 2024	December 31, 2023
Assets
Cash and cash equivalents	$667	$693
Restricted cash	61	57
Marketable securities	16	16
Accounts receivable, net	724	694
Prepaid insurance and related assets	37	7
Funds held for clients and other current assets	114	128
Total current assets	1,619	1,595
Property and equipment, net of accumulated depreciation	191	197
Right-of-use (“ROU”) leased assets	56	57
Prepaid health insurance	9	9
Deposits – health insurance	8	8
Deposits – workers’ compensation	204	198
Goodwill and other intangible assets, net	13	13
Deferred income taxes, net	6	20
Other assets	20	23
Total assets	$2,126	$2,120
Liabilities and stockholders' equity
Accounts payable	$6	$11
Payroll taxes and other payroll deductions payable	489	566
Accrued worksite employee payroll costs	622	559
Accrued health insurance costs	71	46
Accrued workers’ compensation costs	64	60
Accrued corporate payroll and commissions	55	64
Income taxes payable	15	3
Client funds liability and other accrued liabilities	84	127
Total current liabilities	1,406	1,436
Accrued workers’ compensation costs, net of current	155	163
Long-term debt	369	369
Operating lease liabilities, net of current	56	58
Total noncurrent liabilities	580	590
Commitments and contingencies
Common stock	1	1
Additional paid-in capital	172	185
Treasury stock, at cost	(826)	(831)
Retained earnings	793	739
Total stockholders' equity	140	94
Total liabilities and stockholders’ equity	$2,126	$2,120

Insperity \| 2024 First Quarter Form 10-Q	6

FINANCIAL STATEMENTS(Unaudited)

CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended March 31,
(in millions, except per share amounts)	2024	2023
Revenues	$1,802	$1,770
Payroll taxes, benefits and workers’ compensation costs	1,457	1,438
Gross profit	345	332
Salaries, wages and payroll taxes	140	125
Stock-based compensation	10	11
Commissions	12	11
Advertising	7	6
General and administrative expenses	57	48
Depreciation and amortization	11	10
Total operating expenses	237	211
Operating income	108	121
Other income (expense):
Interest income	10	9
Interest expense	(7)	(6)
Income before income tax expense	111	124
Income tax expense	32	29
Net income	$79	$95
Net income per share of common stock
Basic	$2.11	$2.49
Diluted	$2.08	$2.45

Insperity \| 2024 First Quarter Form 10-Q	7

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.