INSPERITY INC
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
NSP$50.87+3.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net income | $91 | $171 | $179 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 44 | 43 | 41 |
| Stock-based compensation | 61 | 53 | 50 |
| Deferred income taxes | (14) | (4) | (11) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (135) | (71) | (110) |
| Prepaid insurance and related assets | (18) | 5 | — |
| Other current assets | (8) | (15) | (5) |
| Other assets and ROU assets | 25 | 23 | 2 |
| Accounts payable | (1) | 3 | 2 |
| Payroll taxes and other payroll deductions payable | 335 | 10 | 88 |
| Accrued worksite employee payroll costs | 171 | 46 | 104 |
| Accrued health insurance costs | (27) | (7) | 3 |
| Accrued workers’ compensation costs | (17) | (10) | (10) |
| Accrued corporate payroll, commissions and other accrued liabilities | (2) | (45) | (5) |
| Income taxes payable/receivable | 15 | (4) | 19 |
| Total adjustments | 429 | 27 | 168 |
| Net cash provided by operating activities | 520 | 198 | 347 |
| Cash flows from investing activities | |||
| Marketable securities: | |||
| Purchases | (23) | (48) | (47) |
| Proceeds from maturities | 23 | 38 | 45 |
| Proceeds from dispositions | — | 28 | — |
| Property and equipment purchases | (38) | (40) | (30) |
| Net cash used in investing activities | (38) | (22) | (32) |
| Cash flows from financing activities | |||
| Purchase of treasury stock | (63) | (131) | (73) |
| Dividends paid | (89) | (84) | (77) |
| Client funds liability and other | (21) | 60 | 9 |
| Net cash used in financing activities | (173) | (155) | (141) |
| Net increase in cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation | 309 | 21 | 174 |
| Cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation beginning of year | 1,035 | 1,014 | 840 |
| Cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation end of year | $1,344 | $1,035 | $1,014 |
CONSOLIDATED FINANCIAL STATEMENTS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Supplemental cash flow information: | |||
| Income taxes, net | $33 | $63 | $57 |
| Cash paid for interest | 32 | 22 | 13 |
| ROU assets obtained in exchange for lease obligations | 29 | 22 | 10 |
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