INSPERITY, INC.
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
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) | 2025 | 2024 | 2023 |
| Cash flows from operating activities | |||
| Net income (loss) | $(7) | $91 | $171 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 45 | 44 | 43 |
| Stock-based compensation | 61 | 61 | 53 |
| Deferred income taxes | 12 | (14) | (4) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 3 | (135) | (71) |
| Prepaid insurance and related assets | 19 | (18) | 5 |
| Other current assets | 4 | (8) | (15) |
| Other assets and ROU assets | (9) | 25 | 23 |
| Accounts payable | (4) | (1) | 3 |
| Payroll taxes and other payroll deductions payable | (357) | 335 | 10 |
| Accrued worksite employee payroll costs | 34 | 171 | 46 |
| Accrued health insurance costs | 11 | (27) | (7) |
| Accrued workers’ compensation costs | (20) | (17) | (10) |
| Accrued corporate payroll, commissions and other accrued liabilities | (23) | (2) | (45) |
| Income taxes payable/receivable | (47) | 15 | (4) |
| Total adjustments | (271) | 429 | 27 |
| Net cash provided by (used in) operating activities | (278) | 520 | 198 |
| Cash flows from investing activities | |||
| Marketable securities: | |||
| Purchases | (26) | (23) | (48) |
| Proceeds from maturities | 18 | 23 | 38 |
| Proceeds from dispositions | 8 | — | 28 |
| Property and equipment purchases | (31) | (38) | (40) |
| Net cash used in investing activities | (31) | (38) | (22) |
| Cash flows from financing activities | |||
| Purchase of treasury stock | (19) | (63) | (131) |
| Dividends paid | (90) | (89) | (84) |
| Client funds liability and other | 19 | (21) | 60 |
| Net cash used in financing activities | (90) | (173) | (155) |
| Net increase (decrease) in cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation | (399) | 309 | 21 |
| Cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation beginning of year | 1,344 | 1,035 | 1,014 |
| Cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation end of year | $945 | $1,344 | $1,035 |
CONSOLIDATED FINANCIAL STATEMENTS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2025 | 2024 | 2023 |
| Supplemental cash flow information: | |||
| Federal income taxes, net | $34 | $25 | $50 |
| State income taxes, net: | |||
| California | — | — | 3 |
| Other | 4 | 8 | 10 |
| Cash paid for interest | 23 | 32 | 22 |
| ROU assets obtained in exchange for lease obligations | 19 | 29 | 22 |
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