INSPERITY INC
For the period ended Mar 31, 2024. Filed May 1, 2024.
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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$50.87+3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Statements of Cash Flows
FINANCIAL STATEMENTS(Unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| (in millions) | 2024 | 2023 |
| Cash flows from operating activities | ||
| Net income | $79 | $95 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 11 | 10 |
| Stock-based compensation | 10 | 11 |
| Deferred income taxes | 14 | 17 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (30) | 16 |
| Prepaid insurance and related assets | (30) | (39) |
| Other current assets | (27) | (12) |
| Other assets and ROU assets | 5 | 2 |
| Accounts payable | (5) | 1 |
| Payroll taxes and other payroll deductions payable | (77) | (60) |
| Accrued worksite employee payroll costs | 63 | 12 |
| Accrued health insurance costs | 25 | 26 |
| Accrued workers’ compensation costs | (4) | — |
| Accrued corporate payroll, commissions and other accrued liabilities | (15) | (46) |
| Income taxes payable/receivable | 12 | 7 |
| Total adjustments | (48) | (55) |
| Net cash provided by operating activities | 31 | 40 |
| Cash flows from investing activities | ||
| Marketable securities: | ||
| Purchases | (6) | (14) |
| Proceeds from maturities | 6 | 12 |
| Property and equipment purchases | (5) | (7) |
| Net cash used in investing activities | (5) | (9) |
| Cash flows from financing activities | ||
| Purchase of treasury stock | (23) | (35) |
| Dividends paid | (21) | (20) |
| Client funds liability and other | (39) | 8 |
| Net cash used in financing activities | (83) | (47) |
| Net decrease in cash, cash equivalents, restricted cash and funds held for clients | (57) | (16) |
| Cash, cash equivalents, restricted cash and funds held for clients beginning of period | 1,035 | 1,014 |
| Cash, cash equivalents, restricted cash and funds held for clients end of period | $978 | $998 |
| Supplemental cash flow information: | ||
|---|---|---|
| ROU assets obtained in exchange for lease obligations | $4 | $1 |
| Insperity | 2024 First Quarter Form 10-Q | 8 |
|---|
FINANCIAL STATEMENTS(Unaudited)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
For the Three Months Ended March 31, 2024 and 2023
| Common Stock Issued · Additional Paid-In Capital · Treasury Stock · Retained Earnings and AOCI · Total | ||||||
|---|---|---|---|---|---|---|
| (in millions) · Shares · Amount | ||||||
| Balance at December 31, 2023 | 55 | $1 | $185 | $(831) | $739 | $94 |
| Purchase of treasury stock, at cost | — | — | — | (23) | — | (23) |
| Issuance of equity-based incentive awards and dividend equivalents | — | — | (24) | 28 | (4) | — |
| Stock-based compensation expense | — | — | 10 | — | — | 10 |
| Other | — | — | 1 | — | — | 1 |
| Dividends paid | — | — | — | — | (21) | (21) |
| Net income | — | — | — | — | 79 | 79 |
| Balance at March 31, 2024 | 55 | $1 | $172 | $(826) | $793 | $140 |
| Balance at December 31, 2022 | 55 | $1 | $151 | $(726) | $655 | $81 |
| Purchase of treasury stock, at cost | — | — | — | (35) | — | (35) |
| Issuance of equity-based incentive awards and dividend equivalents | — | — | (21) | 26 | (5) | — |
| Stock-based compensation expense | — | — | 11 | — | — | 11 |
| Other | — | — | 1 | — | — | 1 |
| Dividends paid | — | — | — | — | (20) | (20) |
| Net income | — | — | — | — | 95 | 95 |
| Balance at March 31, 2023 | 55 | $1 | $142 | $(735) | $725 | $133 |
| Insperity | 2024 First Quarter Form 10-Q | 9 |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.