TrueBlue (TBI) 10-Q 26 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 25, 2015	Oct. 12, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 25, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	TBI
Entity Registrant Name	TrueBlue, Inc.
Entity Central Index Key	768,899
Current Fiscal Year End Date	--12-25
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,967,937

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Current assets:
Cash and cash equivalents	$ 23,232	$ 19,666
Marketable securities	0	1,500
Accounts receivable, net of allowance for doubtful accounts of $6,046 and $7,603	362,016	359,903
Prepaid expenses, deposits and other current assets	18,977	18,778
Income tax receivable	1,977	10,516
Deferred income taxes, net	7,592	5,444
Total current assets	413,794	415,807
Property and equipment, net	55,995	61,392
Restricted cash and investments	181,910	168,426
Goodwill	241,855	241,855
Intangible assets, net	122,241	136,560
Other assets, net	46,117	42,631
Total assets	1,061,912	1,066,671
Current liabilities:
Accounts payable and other accrued expenses	66,903	50,256
Accrued wages and benefits	80,007	69,692
Current portion of workers' compensation claims reserve	63,885	64,556
Other current liabilities	2,447	2,726
Total current liabilities	213,242	187,230
Workers’ compensation claims reserve, less current portion	188,978	178,283
Long-term debt, less current portion	111,689	199,383
Deferred income taxes, net	15,887	19,768
Other long-term liabilities	14,834	12,673
Total liabilities	$ 544,630	$ 597,337
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.131 par value, 20,000 shares authorized; No shares issued and outstanding	$ 0	$ 0
Common stock, no par value, 100,000 shares authorized; 41,961 and 41,530 shares issued and outstanding	1	1
Accumulated other comprehensive income (loss)	(1,116)	871
Retained earnings	518,397	468,462
Total shareholders’ equity	517,282	469,334
Total liabilities and shareholders’ equity	$ 1,061,912	$ 1,066,671

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Allowance for doubtful accounts	$ 6,046	$ 7,603
Preferred stock, par value (in dollars per share)	$ 0.131	$ 0.131
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	41,961,000	41,530,000
Common stock, shares outstanding	41,961,000	41,530,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Revenue from services	$ 683,918	$ 633,365	$ 1,884,947	$ 1,482,655
Cost of services	515,051	473,766	1,434,278	1,103,914
Gross profit	168,867	159,599	450,669	378,741
Selling, general and administrative expenses	125,117	120,318	354,569	308,654
Depreciation and amortization	10,498	9,719	31,415	20,126
Income from operations	33,252	29,562	64,685	49,961
Interest expense	(933)	(1,140)	(2,980)	(1,725)
Interest and other income	567	731	1,878	2,110
Interest and other income (expense), net	(366)	(409)	(1,102)	385
Income before tax expense	32,886	29,153	63,583	50,346
Income tax expense	12,796	8,243	20,504	11,696
Net income	$ 20,090	$ 20,910	$ 43,079	$ 38,650
Net income per common share:
Basic (in dollars per share)	$ 0.49	$ 0.51	$ 1.05	$ 0.95
Diluted (in dollars per share)	$ 0.48	$ 0.51	$ 1.04	$ 0.94
Weighted average shares outstanding:
Basic (in shares)	41,296	40,793	41,189	40,701
Diluted (in shares)	41,620	41,038	41,546	40,971
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	$ (881)	$ (1,087)	$ (1,706)	$ (997)
Unrealized gain (loss) on investments, net of tax	(835)	(81)	(281)	372
Total other comprehensive loss, net of tax	(1,716)	(1,168)	(1,987)	(625)
Comprehensive income	$ 18,374	$ 19,742	$ 41,092	$ 38,025

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014
Cash flows from operating activities:
Net income	$ 43,079	$ 38,650
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	31,415	20,126
Provision for doubtful accounts	4,483	9,619
Stock-based compensation	8,283	8,902
Deferred income taxes	(6,029)	6,077
Other operating activities	20	(148)
Changes in operating assets and liabilities:
Accounts receivable	(6,597)	(26,391)
Income taxes	9,673	(3,179)
Other assets	(3,685)	(6,510)
Accounts payable and other accrued expenses	17,453	(1,687)
Accrued wages and benefits	10,315	11,373
Workers’ compensation claims reserve	10,024	532
Other liabilities	1,883	2,539
Net cash provided by operating activities	120,317	59,903
Cash flows from investing activities:
Capital expenditures	(12,590)	(10,213)
Acquisition of businesses, net of cash acquired	0	(307,972)
Purchases of marketable securities	0	(25,057)
Sales and maturities of marketable securities	1,500	43,917
Change in restricted cash and cash equivalents	13,070	10,020
Purchases of restricted investments	(38,818)	(18,196)
Maturities of restricted investments	11,047	10,588
Net cash used in investing activities	(25,791)	(296,913)
Cash flows from financing activities:
Net proceeds from stock option exercises and employee stock purchase plans	1,164	1,673
Common stock repurchases for taxes upon vesting of restricted stock	(3,725)	(3,021)
Net change in revolving credit facility	(85,994)	146,994
Payments on debt and other liabilities	(1,700)	(1,700)
Other	1,134	1,242
Net cash provided by (used in) financing activities	(89,121)	145,188
Effect of exchange rate changes on cash and cash equivalents	(1,839)	(937)
Net change in cash and cash equivalents	3,566	(92,759)
CASH AND CASH EQUIVALENTS, beginning of period	19,666	122,003
CASH AND CASH EQUIVALENTS, end of period	$ 23,232	$ 29,244

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 25, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the "Company," "we," "us," "our," and "TrueBlue") are prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with GAAP have been condensed or omitted. The financial statements reflect all adjustments which, in the opinion of management, are necessary to fairly state the financial statements for the interim periods presented. We follow the same accounting policies for preparing both quarterly and annual financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 26, 2014. The results of operations for the thirty-nine weeks ended September 25, 2015 are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period. Recently issued accounting pronouncements not yet adopted In September 2015, the Financial Accounting Standards Board ("FASB") issued a new accounting standard intended to simplify the accounting for measurement period adjustments in a business combination. The standard requires that the acquirer recognize adjustments to provisional amounts identified during the measurement period in the reporting period when the adjustment is determined. The new standard also requires the acquirer to disclose in the same reporting period the effect on earnings as a result of the change as if the adjustment were made at the acquisition date. This guidance is effective for annual periods beginning after December 15, 2015 (Q1 2016 for TrueBlue). TrueBlue plans to adopt the new standard on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In April 2015, the FASB issued a new accounting standard intended to simplify the presentation of debt issuance costs. The standard requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation for debt discounts. The recognition and measurement guidance for debt issuance costs is not affected. This guidance is effective for annual periods beginning after December 15, 2015 (Q1 2016 for TrueBlue), including interim periods within those annual periods, and must be applied on a retrospective basis. TrueBlue plans to adopt the new standard on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In April 2015, the FASB issued a new accounting standard designed to assist customers in their determination of whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 (Q1 2016 for TrueBlue). The new standard may be applied retrospectively or prospectively to arrangements entered into, or materially modified, after the effective date. TrueBlue plans to adopt the new standard prospectively on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In May 2014, the FASB issued a new accounting standard that sets forth a five-step revenue recognition model, which supersedes current revenue recognition guidance, including industry-specific revenue recognition guidance. The underlying principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The standard also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new standard provides two methods of initial adoption: retrospective for all periods presented, or through a cumulative adjustment in the year of adoption. On July 9, 2015, the FASB approved a one year deferral of the effective date of the standard. The new effective date is for annual periods beginning after December 15, 2017 (Q1 2018 for TrueBlue), including interim periods within those annual periods. We have not yet determined which method of adoption will be applied and are currently evaluating the impact that this standard will have on our consolidated financial statements.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 25, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We apply a fair value hierarchy that prioritizes the inputs used to measure fair value: • Level 1 inputs are valued using quoted market prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and cash equivalents and mutual funds. • Level 2 inputs are valued based upon quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active. Our Level 2 assets are marketable securities, which may consist of certificates of deposit ("CDs") and commercial paper, and restricted investments, which consist of municipal debt securities, corporate debt securities, asset-backed securities, and U.S. agency debentures. Our investments consist of highly rated investment grade debt securities, which are rated A1/P1 or higher for short-term securities and A- or higher for long-term securities, by nationally recognized statistical rating organizations. We obtain our inputs from quoted market prices and independent pricing vendors. • Level 3 inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. We have no Level 3 assets or liabilities. The carrying values of our accounts receivable, accounts payable and other accrued expenses, and accrued wages and benefits approximate fair value due to their short-term nature. We also hold certain restricted investments which collateralize workers' compensation programs and are classified as held-to-maturity and carried at amortized cost on our Consolidated Balance Sheets. We hold long-term debt with variable interest rates that approximate fair value. For additional information, see Note 8: Long-term Debt. The following tables present the fair value and hierarchy for our financial assets ( in thousands ): September 25, 2015 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 23,232 $ 23,232 $ 23,232 $ — $ — Restricted cash and cash equivalents (1) 53,944 53,944 53,944 — — Other restricted assets (2) 11,647 11,647 11,647 — — Restricted investments classified as held-to-maturity 116,319 117,519 — 117,519 — December 26, 2014 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 19,666 $ 19,666 $ 19,666 $ — $ — Marketable securities classified as available-for-sale (3) 1,500 1,500 — 1,500 Restricted cash and cash equivalents (1) 68,359 68,359 68,359 — — Other restricted assets (2) 9,972 9,972 9,972 — — Restricted investments classified as held-to-maturity 90,095 91,066 — 91,066 — (1) Cash equivalents and restricted cash equivalents consist of money market funds, deposits, and investments with original maturities of three months or less. (2) Other restricted assets primarily consist of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities. (3) At September 25, 2015 , we held no marketable securities. At December 26, 2014 , all of our marketable securities, which consisted of CDs, had stated maturities of less than one year.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Sep. 25, 2015
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES We held no marketable securities as of September 25, 2015 . Gross unrealized gains and losses were de minimis for the thirteen and thirty-nine weeks ended September 25, 2015 . As of December 26, 2014 , the amortized cost and fair value of our marketable securities, which were all CDs with stated maturities of less than one year, were $1.5 million . Gross unrealized gains and losses were de minimis for the thirteen and thirty-nine weeks ended September 26, 2014 .

RESTRICTED CASH AND INVESTMENTS

RESTRICTED CASH AND INVESTMENTS	9 Months Ended
	Sep. 25, 2015
Restricted Cash and Investments [Abstract]
RESTRICTED CASH AND INVESTMENTS	RESTRICTED CASH AND INVESTMENTS Restricted cash and investments consist principally of collateral that has been provided or pledged to insurance carriers for workers' compensation and state workers' compensation programs. Our insurance carriers and certain state workers' compensation programs require us to collateralize a portion of our workers' compensation obligation. The collateral typically takes the form of cash and cash equivalents and highly rated investment grade securities, primarily in municipal debt securities, corporate debt securities, and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon ("Trust"). Our investments have not resulted in any other-than-temporary impairments. The following is a summary of our restricted cash and investments ( in thousands ): September 25, December 26, Cash collateral held by insurance carriers $ 22,717 $ 22,639 Cash and cash equivalents held in Trust 31,227 43,856 Investments held in Trust 116,319 90,095 Other (1) 11,647 11,836 Total restricted cash and investments $ 181,910 $ 168,426 (1) Primarily consists of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities. The following tables present fair value disclosures for our held-to-maturity investments, which are carried at amortized cost ( in thousands ): September 25, 2015 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Municipal debt securities $ 62,289 $ 918 $ (19 ) $ 63,188 Corporate debt securities 44,978 284 (81 ) 45,181 Asset-backed securities 9,052 107 (9 ) 9,150 $ 116,319 $ 1,309 $ (109 ) $ 117,519 December 26, 2014 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Municipal debt securities $ 52,406 $ 882 $ (92 ) $ 53,196 Corporate debt securities 27,715 179 (144 ) 27,750 Asset-backed securities 9,974 157 (11 ) 10,120 $ 90,095 $ 1,218 $ (247 ) $ 91,066 The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows ( in thousands ): September 25, 2015 Amortized Cost Fair Value Due in one year or less $ 10,503 $ 10,577 Due after one year through five years 62,654 63,118 Due after five years through ten years 43,162 43,824 $ 116,319 $ 117,519 Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty. We have no significant concentrations of counterparties in our held-to-maturity investment portfolio.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Sep. 25, 2015
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET Property and equipment are stated at cost and consist of the following ( in thousands ): September 25, December 26, Buildings and land $ 31,558 $ 30,381 Computers and software 125,074 115,419 Furniture and equipment 11,641 11,690 Construction in progress 3,622 5,415 171,895 162,905 Less accumulated depreciation (115,900 ) (101,513 ) $ 55,995 $ 61,392 Capitalized software costs, net of accumulated depreciation, were $25.3 million and $30.2 million as of September 25, 2015 and December 26, 2014 , respectively, excluding amounts in Construction in progress. Construction in progress consists primarily of purchased and internally-developed software. Depreciation expense of property and equipment totaled $5.9 million and $5.1 million for the thirteen weeks ended September 25, 2015 and September 26, 2014 , respectively. Depreciation expense of property and equipment totaled $17.1 million and $12.5 million for the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 25, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The following table reflects goodwill at September 25, 2015 and December 26, 2014 (in thousands) : Staffing Services Managed Services Unallocated Goodwill Total Company Balance at December 26, 2014 Goodwill before impairment $ 128,449 $ — $ 159,616 $ 288,065 Accumulated impairment loss (46,210 ) — — (46,210 ) Goodwill, net 82,239 — 159,616 241,855 Allocated goodwill 42,730 116,886 (159,616 ) — Balance at September 25, 2015 Goodwill before impairment 171,179 116,886 — 288,065 Accumulated impairment loss (46,210 ) — — (46,210 ) Goodwill, net $ 124,969 $ 116,886 $ — $ 241,855 Effective June 30, 2014, we acquired Staffing Solutions Holdings, Inc. ("Seaton"). The goodwill associated with the acquisition has been allocated to our reportable segments. For additional information regarding our segments see Note 16: Segment Information . Intangible assets The following table presents our purchased finite-lived intangible assets ( in thousands ): September 25, 2015 December 26, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets (1): Customer relationships $ 123,940 $ (33,121 ) $ 90,819 $ 123,940 $ (22,195 ) $ 101,745 Trade names/trademarks 4,422 (3,313 ) 1,109 4,422 (2,878 ) 1,544 Non-compete agreements 1,800 (1,087 ) 713 1,800 (817 ) 983 Technologies 18,300 (4,900 ) 13,400 18,300 (2,212 ) 16,088 Total finite-lived intangible assets $ 148,462 $ (42,421 ) $ 106,041 $ 148,462 $ (28,102 ) $ 120,360 (1) Excludes assets that are fully amortized. Amortization expense of our finite-lived intangible assets was $4.6 million for the thirteen weeks ended September 25, 2015 and September 26, 2014 . Amortization expense of our finite-lived intangible assets was $14.3 million and $7.6 million for the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , respectively. The following table provides the estimated future amortization of finite-lived intangible assets as of September 25, 2015 ( in thousands ): Remainder of 2015 $ 4,593 2016 18,186 2017 16,157 2018 14,638 2019 12,017 Thereafter 40,450 Total future amortization $ 106,041 We also held indefinite-lived trade names/trademarks of $16.2 million as of September 25, 2015 and December 26, 2014 .

WORKERS' COMPENSATION INSURANCE

WORKERS' COMPENSATION INSURANCE AND RESERVES	9 Months Ended
	Sep. 25, 2015
Workers' Compensation Insurance and Reserves [Abstract]
WORKERS' COMPENSATION INSURANCE AND RESERVES	WORKERS’ COMPENSATION INSURANCE AND RESERVES We provide workers’ compensation insurance for our temporary and permanent employees. The majority of our current workers’ compensation insurance policies cover claims for a particular event above a $2.0 million deductible limit, on a “per occurrence” basis. This results in our being substantially self-insured. For workers’ compensation claims originating in Washington, North Dakota, Ohio, Wyoming, Canada, and Puerto Rico (our “monopolistic jurisdictions”), we pay workers’ compensation insurance premiums and obtain full coverage under government-administered programs (with the exception of our Labor Ready service line in the state of Ohio where we have a self-insured policy). Accordingly, because we are not the primary obligor, our financial statements do not reflect the liability for workers’ compensation claims in these monopolistic jurisdictions. Our workers’ compensation reserve is established using estimates of the future cost of claims and related expenses that have been reported but not settled, as well as those that have been incurred but not reported. Our workers’ compensation reserve for claims below the deductible limit is discounted to its estimated net present value using discount rates based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred. The weighted average discount rate was 1.6% and 1.7% at September 25, 2015 and December 26, 2014 , respectively. Payments made against self-insured claims are made over a weighted average period of approximately 4.5 years at September 25, 2015 . The table below presents a reconciliation of the undiscounted workers’ compensation claims reserve to the discounted workers' compensation reserve for the periods presented as follows ( in thousands ): September 25, December 26, Undiscounted workers’ compensation reserve $ 267,251 $ 256,220 Less discount on workers' compensation reserve 14,388 13,381 Workers' compensation reserve, net of discount 252,863 242,839 Less current portion 63,885 64,556 Long-term portion $ 188,978 $ 178,283 Payments made against self-insured claims were $51.8 million and $44.8 million for the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , respectively. Our workers’ compensation reserve includes estimated expenses related to claims above our self-insured limits (“excess claims”), and we record a corresponding receivable for the insurance coverage on excess claims based on the contractual policy agreements we have with insurance carriers. We discount this reserve and corresponding receivable to its estimated net present value using the discount rates based on average returns of “risk-free” U.S. Treasury instruments available during the year in which the liability was incurred. The claim payments are made and the corresponding reimbursements from our insurance carriers are received over an estimated weighted average period of approximately 15 years. The discounted workers’ compensation reserve for excess claims was $46.7 million and $42.6 million as of September 25, 2015 and December 26, 2014 , respectively. The discounted receivables from insurance companies, net of valuation allowance, were $42.8 million and $38.7 million as of September 25, 2015 and December 26, 2014 , respectively, and are included in Other assets, net on the accompanying Consolidated Balance Sheets. Management evaluates the adequacy of the workers’ compensation reserves in conjunction with an independent quarterly actuarial assessment. Factors considered in establishing and adjusting these reserves include, among other things: • changes in medical and time loss (“indemnity”) costs; • changes in mix between medical only and indemnity claims; • regulatory and legislative developments impacting benefits and settlement requirements; • type and location of work performed; • impact of safety initiatives; and • positive or adverse development of claims. Workers’ compensation expense consists primarily of changes in self-insurance reserves net of changes in discount, monopolistic jurisdictions’ premiums, insurance premiums, and other miscellaneous expenses. Workers’ compensation expense of $24.7 million and $21.6 million was recorded in Cost of services for the thirteen weeks ended September 25, 2015 and September 26, 2014 , respectively. Workers’ compensation expense of $69.1 million and $55.1 million was recorded in Cost of services for the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , respectively.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 25, 2015
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT The components of our borrowings were as follows ( in thousands ): September 25, December 26, 2014 Revolving Credit Facility $ 86,000 $ 171,994 Term Loan 27,956 29,656 Total debt 113,956 201,650 Less current portion 2,267 2,267 Long-term debt, less current portion $ 111,689 $ 199,383 Second amended and restated credit agreement Effective June 30, 2014, we entered into a Second Amended and Restated Revolving Credit Agreement for a secured revolving credit facility of $300.0 million with Bank of America, N.A., Wells Fargo Bank, National Association, HSBC and PNC Capital Markets LLC ("Revolving Credit Facility") in connection with our acquisition of Seaton. The Revolving Credit Facility, which matures June 30, 2019, amended and restated our previous credit facility, and replaced the Seaton credit facility. The maximum amount we can borrow under the Revolving Credit Facility is subject to certain borrowing limits. Specifically, we are limited to the sum of 90% of our eligible billed accounts receivable, plus 85% of our eligible unbilled accounts receivable limited to 15% of all our eligible receivables, plus the value of our Tacoma headquarters office building. The real estate lending limit is $17.4 million , and is reduced quarterly by $0.4 million . As of September 25, 2015 , the Tacoma headquarters office building liquidation value totaled $15.7 million . The borrowing limit is further reduced by the sum of a reserve in an amount equal to the payroll and payroll taxes for our temporary employees for one payroll cycle and other reserves, if deemed applicable. Each borrowing has a stated maturity of 90 days or less. At September 25, 2015 , $291.5 million was available under the Revolving Credit Facility, $86.0 million was utilized as a draw on the facility, and $4.5 million was utilized by outstanding standby letters of credit, leaving $201.0 million available for additional borrowings. The letters of credit collateralize a portion of our workers' compensation obligation. The Revolving Credit Facility requires that we maintain an excess liquidity of $37.5 million . Excess liquidity is an amount equal to the unused borrowing capacity under the Revolving Credit Facility plus certain unrestricted cash, cash equivalents, and marketable securities. We are required to satisfy a fixed charge coverage ratio in the event we do not meet that requirement. The additional amount available to borrow at September 25, 2015 was $201.0 million and the amount of cash and cash equivalents under control agreements was $24.6 million , for a total of $225.6 million , which is well in excess of the liquidity requirement. We are currently in compliance with all covenants related to the Revolving Credit Facility. Under the terms of the Revolving Credit Facility, we pay a variable rate of interest on funds borrowed that is based on London Interbank Offered Rate (LIBOR) plus an applicable spread between 1.25% and 2.00% . Alternatively, at our option, we may pay interest based upon a base rate plus an applicable spread between 0.25% and 1.00% . The applicable spread is determined by certain liquidity to debt ratios. The base rate is the greater of the prime rate (as announced by Bank of America), the federal funds rate plus 0.50% , or the one-month LIBOR rate plus 1.00% . At September 25, 2015 , the applicable spread on LIBOR was 1.50% and the applicable spread on the base rate was 0.5% . As of September 25, 2015 , the weighted average interest rate on outstanding borrowings was 1.79% . A fee of 0.375% is applied against the Revolving Credit Facility's unused borrowing capacity when utilization is less than 25% , or 0.25% when utilization is greater than or equal to 25% . Letters of credit are priced at the margin in effect for LIBOR loans, plus a fronting fee of 0.125% . Obligations under the Revolving Credit Facility are guaranteed by TrueBlue and material U.S. domestic subsidiaries, and are secured by a pledge of substantially all of the assets of TrueBlue and material U.S. domestic subsidiaries. The Revolving Credit Facility has variable rate interest and approximates fair value as of September 25, 2015 and December 26, 2014 . Term loan agreement On February 4, 2013, we entered into an unsecured Term Loan Agreement (“Term Loan”) with Synovus Bank in the principal amount of $34.0 million . The Term Loan has a five -year maturity with fixed monthly principal payments, which total $2.3 million annually based on a loan amortization term of 15 years. Interest accrues at the one-month LIBOR index rate plus an applicable spread of 1.50% , which is paid in addition to the principal payments. At our discretion, we may elect to extend the term of the Term Loan by five consecutive one -year extensions. At September 25, 2015 , the interest rate for the Term Loan was 1.70% . At September 25, 2015 and December 26, 2014 , the remaining balance of the Term Loan was $28.0 million and $29.7 million , respectively, of which $2.3 million is current and is included in Other current liabilities on our Consolidated Balance Sheets. The Term Loan has variable rate interest and approximates fair value as of September 25, 2015 and December 26, 2014 . Our obligations under the Term Loan may be accelerated upon the occurrence of an event of default under the Term Loan, which includes customary events of default, as well as cross-defaults related to indebtedness under our Revolving Credit Facility and other Term Loan specific defaults. The Term Loan contains customary negative covenants applicable to the Company and our subsidiaries such as indebtedness, certain dispositions of property, the imposition of restrictions on payments under the Term Loan, and other Term Loan specific covenants. We are currently in compliance with all covenants related to the Term Loan.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 25, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Workers’ compensation commitments Our insurance carriers and certain state workers’ compensation programs require us to collateralize a portion of our workers’ compensation obligation, for which they become responsible should we become insolvent. The collateral typically takes the form of cash and cash equivalents, highly rated investment grade debt securities, letters of credit, and/or surety bonds. On a regular basis these entities assess the amount of collateral they will require from us relative to our workers' compensation obligation. The majority of our collateral obligations are held in the Trust. We have provided our insurance carriers and certain states with commitments in the form and amounts listed below ( in thousands ): September 25, December 26, Cash collateral held by insurance carriers $ 22,217 $ 22,639 Cash and cash equivalents held in Trust 31,227 43,856 Investments held in Trust 116,319 90,095 Letters of credit (1) 4,240 6,513 Surety bonds (2) 16,971 16,861 Total collateral commitments $ 190,974 $ 179,964 (1) We have agreements with certain financial institutions to issue letters of credit as collateral. (2) Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days' notice. Legal contingencies and developments We are involved in various proceedings arising in the normal course of conducting business. We believe the liabilities included in our financial statements reflect the probable loss that can be reasonably estimated. The resolution of those proceedings is not expected to have a material effect on our results of operations or financial condition.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 25, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We record stock-based compensation expense for restricted and unrestricted stock awards, performance share units, stock options, and shares purchased under an employee stock purchase plan. Our 2005 Long-Term Equity Incentive Plan, as amended and restated effective May 2013 ("Incentive Plan"), provides for the issuance or delivery of up to 7.95 million shares of our common stock over the full term of the Incentive Plan. Restricted and unrestricted stock awards and performance share units Under the Incentive Plan, restricted stock awards are granted to executive officers and key employees and vest annually over three or four years. Unrestricted stock awards granted to our Board of Directors vest immediately. Restricted and unrestricted stock-based compensation expense is calculated based on the grant-date market value. We recognize compensation expense on a straight-line basis over the vesting period, net of estimated forfeitures. Performance share units have been granted to executive officers and certain key employees. Vesting of the performance share units is contingent upon the achievement of revenue and profitability growth goals at the end of each three -year performance period. Each performance share unit is equivalent to one share of common stock. Compensation expense is calculated based on the grant-date market value of our stock and is recognized ratably over the performance period for the performance share units which are expected to vest. Our estimate of the performance units expected to vest is reviewed and adjusted as appropriate each quarter. Restricted and unrestricted stock awards and performance share units activity for the thirty-nine weeks ended September 25, 2015 , was as follows ( shares in thousands ): Shares Weighted- average grant-date price Non-vested at beginning of period 1,547 $ 20.03 Granted 498 $ 22.25 Vested (582 ) $ 18.06 Forfeited (274 ) $ 15.17 Non-vested at the end of the period 1,189 $ 22.32 As of September 25, 2015 , total unrecognized stock-based compensation expense related to non-vested restricted stock was approximately $11.0 million , which is estimated to be recognized over a weighted average period of 1.69 years. As of September 25, 2015 , total unrecognized stock-based compensation expense related to performance share units was approximately $3.8 million , which is estimated to be recognized over a weighted average period of 1.72 years. Stock options Our Incentive Plan provides for both nonqualified stock options and incentive stock options (collectively, “stock options”) for directors, officers, and certain employees. We issue new shares of common stock upon exercise of stock options. All of our stock options are vested and expire if not exercised within seven years from the date of grant. Stock option activity was de minimis for the thirty-nine weeks ended September 25, 2015 . Employee stock purchase plan Our Employee Stock Purchase Plan (“ESPP”) reserves for purchase 1.0 million shares of common stock. The plan allows eligible employees to contribute up to 10% of their earnings toward the monthly purchase of the Company's common stock. The employee's purchase price is 85% of the lesser of the fair market value of shares on either the first day or the last day of each month. We consider our ESPP to be a component of our stock-based compensation and accordingly we recognize compensation expense over the requisite service period for stock purchases made under the plan. The requisite service period begins on the enrollment date and ends on the purchase date, the duration of which is one month. During the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , participants purchased approximately 49,000 and 45,000 shares from the plan, respectively, for cash proceeds of $1.0 million each period. Stock-based compensation expense Total stock-based compensation expense, which is included in Selling, general and administrative expenses on our Consolidated Statements of Operations and Comprehensive Income, was $2.5 million and $3.9 million for the thirteen weeks ended September 25, 2015 and September 26, 2014 , respectively, and $8.3 million and $8.9 million for the thirty-nine weeks ended September 25, 2015 and September 26, 2014 , respectively.

DEFINED CONTRIBUTION PLANS

DEFINED CONTRIBUTION PLANS	9 Months Ended
	Sep. 25, 2015
Compensation and Retirement Disclosure [Abstract]
DEFINED CONTRIBUTION PLANS	DEFINED CONTRIBUTION PLANS We offer both qualified and non-qualified defined contribution plans to eligible employees. Participating employees may elect to defer and contribute a portion of their eligible compensation. The plans offer discretionary matching contributions. The liability for the non-qualified plans was $12.2 million and $10.1 million as of September 25, 2015 and December 26, 2014 , respectively. The current and non-current portion of the deferred compensation liability is included in Other current liabilities and Other long-term liabilities, respectively, on our Consolidated Balance Sheets, and is largely offset by restricted investments recorded in Restricted cash and investments on our Consolidated Balance Sheets.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 25, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. Our quarterly tax provision and our quarterly estimate of our annual effective tax rate are subject to variation due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate, audit developments, changes in law, regulations and administrative practices, and relative changes of expenses or losses for which tax benefits are not recognized. Additionally, our effective tax rate can be more or less volatile based on the amount of pre-tax income. For example, the impact of discrete items, tax credits, and non-deductible expenses on our effective tax rate is greater when our pre-tax income is lower. Except as required under U.S. tax law, we do not provide for U.S. taxes on undistributed earnings of our foreign subsidiaries since we consider those earnings to be permanently invested outside of the U.S. Our effective tax rate on earnings for the thirty-nine weeks ended September 25, 2015 was 32.2% . The principal difference between the statutory federal income tax rate of 35.0% and our effective income tax rate of 32.2% results from federal and state job credits earned in 2015 for prior year hires. These job credits include the federal Work Opportunity Tax Credit ("WOTC") and the California Enterprise Zone Tax Credit. We generated substantially more prior year credits in 2015 because the federal WOTC application due date was extended to April 30, 2015 for 2014 hires, and more workers with higher credits were certified than expected. These factors generated additional tax benefits of approximately $3.7 million , which were recognized as of September 25, 2015 . This tax credit benefit decreased our effective tax rate on income for the thirty-nine weeks ended September 25, 2015 from our expected 2015 rate of 38.1% to 32.2% . WOTC expired and has not been renewed by Congress for 2015 new hires. Other differences between the statutory federal income tax rate of 35.0% and our effective tax rate of 32.2% result from state and foreign income taxes and certain non-deductible expenses. Our effective tax rate on earnings for the thirty-nine weeks ended September 26, 2014 , was 23.2% . The principal difference between the statutory federal income tax rate of 35.0% and our effective income tax rate of 23.2% , results from the Work Opportunity Tax Credit ("WOTC") earned in 2014 for prior year hires. We generated substantially more prior year credits because more veterans with higher credits were certified than expected, our qualified workers worked longer, generating more credits than expected, and many states processed a backlog of credit applications with higher than expected certification rates. These factors generated additional WOTC benefits of approximately $8 million , which were recognized as of September 26, 2014 . This tax credit benefit decreased our effective tax rate on income for the thirty-nine weeks ended September 26, 2014 from our expected 2014 rate of 38.9% to 23.2% . Other differences between the statutory federal income tax rate of 35.0% result from state and foreign income taxes and certain non-deductible expenses. As of September 25, 2015 and December 26, 2014 , we had gross unrecognized tax benefits of $2.1 million and $2.0 million , respectively, recorded in accordance with current accounting guidance on uncertain tax positions.

NET INCOME PER SHARE

NET INCOME PER SHARE	9 Months Ended
	Sep. 25, 2015
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Diluted common shares were calculated as follows ( in thousands, except per share amounts ): Thirteen weeks ended Thirty-nine weeks ended September 25, September 26, September 25, September 26, Net income $ 20,090 $ 20,910 $ 43,079 $ 38,650 Weighted average number of common shares used in basic net income per common share 41,296 40,793 41,189 40,701 Dilutive effect of outstanding stock options and non-vested restricted stock 324 245 357 270 Weighted average number of common shares used in diluted net income per common share 41,620 41,038 41,546 40,971 Net income per common share: Basic $ 0.49 $ 0.51 $ 1.05 $ 0.95 Diluted $ 0.48 $ 0.51 $ 1.04 $ 0.94 Anti-dilutive shares 91 97 227 35 Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares include the dilutive effects of outstanding stock options, vested and non-vested restricted stock, performance share units, and shares issued under the employee stock purchase plan, except where their inclusion would be anti-dilutive. Anti-dilutive shares include non-vested restricted stock, performance share units, and outstanding stock options for which the sum of the assumed proceeds, including unrecognized compensation expense, exceeds the average stock price during the periods presented. Anti-dilutive shares associated with our stock options relate to those stock options with an exercise price higher than the average market value of our stock during the periods presented.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 25, 2015
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive loss is reflected as a net decrease to shareholders’ equity. Changes in the balance of each component of accumulated other comprehensive income (loss) during the thirty-nine weeks ended September 25, 2015 were as follows ( in thousands ): Foreign currency translation adjustment Unrealized gain (loss) on investments (1) Total other comprehensive income (loss), net of tax Balance at beginning of period $ 848 $ 23 $ 871 Current-period other comprehensive loss (2) (1,706 ) (281 ) (1,987 ) Balance at end of period $ (858 ) $ (258 ) $ (1,116 ) (1) Consists of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities. (2) The tax impact on foreign currency translation adjustment and unrealized gain on marketable securities was de minimis for the period ended September 25, 2015 . There were no material reclassifications out of accumulated other comprehensive loss during the fiscal period presented.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 25, 2015
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental disclosure of cash flow information ( in thousands ): Thirty-nine weeks ended September 25, 2015 September 26, 2014 Cash paid during the period for: Interest $ 2,651 $ 951 Income taxes $ 16,401 $ 10,653 As of September 25, 2015 and September 26, 2014 we had acquired $0.2 million and $1.0 million , respectively, of property, plant and equipment on account that was not yet paid. These are considered non-cash investing items.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 25, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our operating segments are based on the organizational structure for which financial results are regularly evaluated by the chief operating decision maker, our Chief Executive Officer, to determine resource allocation and assess performance. Our service lines are our operating segments. Our reportable segments are described below: Our Staffing Services segment provides temporary staffing through the following service lines: • Labor Ready : On-demand general labor; • Spartan Staffing : Skilled manufacturing and logistics labor; • CLP Resources : Skilled trades for commercial, industrial, and energy construction as well as building and plant maintenance; • PlaneTechs : Skilled mechanics and technicians to the aviation and transportation industries; • Centerline Drivers: Temporary and dedicated drivers to the transportation and distribution industries; and • Staff Management On-premise Staffing : Exclusive recruitment and on-premise management of a facility's contingent industrial workforce. Our Managed Services segment provides high-volume permanent employee recruitment process outsourcing and management of outsourced labor service providers through the following service lines: • PeopleScout and hrX : Outsourced recruitment of permanent employees on behalf of clients; and • Staff Management : Management of multiple third party staffing vendors on behalf of clients. We have two measures of segment performance: revenue from services and income from operations. Income from operations for each segment includes net sales to third parties, related cost of sales, and operating expenses directly attributable to the segment. Costs excluded from segment income from operations include various corporate general and administrative expenses, depreciation and amortization expense, interest and other income (expense), and income taxes. Asset information by reportable segment is not presented, since we do not manage our segments on a balance sheet basis. There are no material internal revenue transactions between our reporting segments. Revenue from services and income from operations associated with our segments were as follows ( in thousands ): Thirteen weeks ended Thirty-nine weeks ended September 25, 2015 September 26, 2014 September 25, 2015 September 26, 2014 Revenue from services Staffing Services $ 656,619 $ 608,543 $ 1,807,434 $ 1,457,833 Managed Services 27,299 24,822 77,513 24,822 Total Company $ 683,918 $ 633,365 $ 1,884,947 $ 1,482,655 Income from operations Staffing Services $ 50,290 $ 45,698 $ 113,353 $ 93,438 Managed Services 3,175 3,723 10,979 3,723 Depreciation and amortization (10,498 ) (9,719 ) (31,415 ) (20,126 ) Corporate unallocated (9,715 ) (10,140 ) (28,232 ) (27,074 ) Total Company 33,252 29,562 64,685 49,961 Interest and other income (expense), net (366 ) (409 ) (1,102 ) 385 Income before tax expense $ 32,886 $ 29,153 $ 63,583 $ 50,346 Our segment revenue and income from operations for the thirty-nine weeks ended September 26, 2014 include Seaton's results from the acquisition date of June 30, 2014, the first business day of our third quarter, through September 26, 2014. As a result, our segment results for the thirty-nine weeks ended September 25, 2015 are not comparative to the prior period amounts.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 25, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS We evaluated events and transactions occurring after the balance sheet date through the date the financial statements were issued, and noted no other events that were subject to recognition or disclosure.

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 25, 2015
Accounting Policies [Abstract]
Financial statement preparation	Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the "Company," "we," "us," "our," and "TrueBlue") are prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with GAAP have been condensed or omitted. The financial statements reflect all adjustments which, in the opinion of management, are necessary to fairly state the financial statements for the interim periods presented. We follow the same accounting policies for preparing both quarterly and annual financial statements. These financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended December 26, 2014. The results of operations for the thirty-nine weeks ended September 25, 2015 are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period.
Recently issued accounting pronouncements not yet adopted	Recently issued accounting pronouncements not yet adopted In September 2015, the Financial Accounting Standards Board ("FASB") issued a new accounting standard intended to simplify the accounting for measurement period adjustments in a business combination. The standard requires that the acquirer recognize adjustments to provisional amounts identified during the measurement period in the reporting period when the adjustment is determined. The new standard also requires the acquirer to disclose in the same reporting period the effect on earnings as a result of the change as if the adjustment were made at the acquisition date. This guidance is effective for annual periods beginning after December 15, 2015 (Q1 2016 for TrueBlue). TrueBlue plans to adopt the new standard on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In April 2015, the FASB issued a new accounting standard intended to simplify the presentation of debt issuance costs. The standard requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation for debt discounts. The recognition and measurement guidance for debt issuance costs is not affected. This guidance is effective for annual periods beginning after December 15, 2015 (Q1 2016 for TrueBlue), including interim periods within those annual periods, and must be applied on a retrospective basis. TrueBlue plans to adopt the new standard on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In April 2015, the FASB issued a new accounting standard designed to assist customers in their determination of whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 (Q1 2016 for TrueBlue). The new standard may be applied retrospectively or prospectively to arrangements entered into, or materially modified, after the effective date. TrueBlue plans to adopt the new standard prospectively on the effective date. This standard is not expected to have a material impact on our consolidated financial statements. In May 2014, the FASB issued a new accounting standard that sets forth a five-step revenue recognition model, which supersedes current revenue recognition guidance, including industry-specific revenue recognition guidance. The underlying principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. The standard also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new standard provides two methods of initial adoption: retrospective for all periods presented, or through a cumulative adjustment in the year of adoption. On July 9, 2015, the FASB approved a one year deferral of the effective date of the standard. The new effective date is for annual periods beginning after December 15, 2017 (Q1 2018 for TrueBlue), including interim periods within those annual periods. We have not yet determined which method of adoption will be applied and are currently evaluating the impact that this standard will have on our consolidated financial statements.

FAIR VALUE MEASUREMENT Fair Val

FAIR VALUE MEASUREMENT Fair Value Measurement (Policies)	9 Months Ended
	Sep. 25, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We apply a fair value hierarchy that prioritizes the inputs used to measure fair value: • Level 1 inputs are valued using quoted market prices in active markets for identical assets or liabilities. Our Level 1 assets primarily include cash and cash equivalents and mutual funds. • Level 2 inputs are valued based upon quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active. Our Level 2 assets are marketable securities, which may consist of certificates of deposit ("CDs") and commercial paper, and restricted investments, which consist of municipal debt securities, corporate debt securities, asset-backed securities, and U.S. agency debentures. Our investments consist of highly rated investment grade debt securities, which are rated A1/P1 or higher for short-term securities and A- or higher for long-term securities, by nationally recognized statistical rating organizations. We obtain our inputs from quoted market prices and independent pricing vendors. • Level 3 inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. We have no Level 3 assets or liabilities. The carrying values of our accounts receivable, accounts payable and other accrued expenses, and accrued wages and benefits approximate fair value due to their short-term nature. We also hold certain restricted investments which collateralize workers' compensation programs and are classified as held-to-maturity and carried at amortized cost on our Consolidated Balance Sheets. We hold long-term debt with variable interest rates that approximate fair value. For additional information, see Note 8: Long-term Debt.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 25, 2015
Fair Value Disclosures [Abstract]
Schedule of fair value hierarchy for cash equivalents and restricted investments	The following tables present the fair value and hierarchy for our financial assets ( in thousands ): September 25, 2015 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 23,232 $ 23,232 $ 23,232 $ — $ — Restricted cash and cash equivalents (1) 53,944 53,944 53,944 — — Other restricted assets (2) 11,647 11,647 11,647 — — Restricted investments classified as held-to-maturity 116,319 117,519 — 117,519 — December 26, 2014 Carrying Value Total Fair Value Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 19,666 $ 19,666 $ 19,666 $ — $ — Marketable securities classified as available-for-sale (3) 1,500 1,500 — 1,500 Restricted cash and cash equivalents (1) 68,359 68,359 68,359 — — Other restricted assets (2) 9,972 9,972 9,972 — — Restricted investments classified as held-to-maturity 90,095 91,066 — 91,066 — (1) Cash equivalents and restricted cash equivalents consist of money market funds, deposits, and investments with original maturities of three months or less. (2) Other restricted assets primarily consist of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities. (3) At September 25, 2015 , we held no marketable securities. At December 26, 2014 , all of our marketable securities, which consisted of CDs, had stated maturities of less than one year.

RESTRICTED CASH AND INVESTMEN26

RESTRICTED CASH AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 25, 2015
Restricted Cash and Investments [Abstract]
Schedule of restricted cash and investments	The following is a summary of our restricted cash and investments ( in thousands ): September 25, December 26, Cash collateral held by insurance carriers $ 22,717 $ 22,639 Cash and cash equivalents held in Trust 31,227 43,856 Investments held in Trust 116,319 90,095 Other (1) 11,647 11,836 Total restricted cash and investments $ 181,910 $ 168,426 (1) Primarily consists of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities.
Schedule of held-to-maturity investments	The following tables present fair value disclosures for our held-to-maturity investments, which are carried at amortized cost ( in thousands ): September 25, 2015 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Municipal debt securities $ 62,289 $ 918 $ (19 ) $ 63,188 Corporate debt securities 44,978 284 (81 ) 45,181 Asset-backed securities 9,052 107 (9 ) 9,150 $ 116,319 $ 1,309 $ (109 ) $ 117,519 December 26, 2014 Amortized Cost Gross Unrealized Gain Gross Unrealized Loss Fair Value Municipal debt securities $ 52,406 $ 882 $ (92 ) $ 53,196 Corporate debt securities 27,715 179 (144 ) 27,750 Asset-backed securities 9,974 157 (11 ) 10,120 $ 90,095 $ 1,218 $ (247 ) $ 91,066
Schedule of held-to-maturity investments by contractual maturity	The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows ( in thousands ): September 25, 2015 Amortized Cost Fair Value Due in one year or less $ 10,503 $ 10,577 Due after one year through five years 62,654 63,118 Due after five years through ten years 43,162 43,824 $ 116,319 $ 117,519

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 25, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment are stated at cost and consist of the following ( in thousands ): September 25, December 26, Buildings and land $ 31,558 $ 30,381 Computers and software 125,074 115,419 Furniture and equipment 11,641 11,690 Construction in progress 3,622 5,415 171,895 162,905 Less accumulated depreciation (115,900 ) (101,513 ) $ 55,995 $ 61,392

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 25, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table reflects goodwill at September 25, 2015 and December 26, 2014 (in thousands) : Staffing Services Managed Services Unallocated Goodwill Total Company Balance at December 26, 2014 Goodwill before impairment $ 128,449 $ — $ 159,616 $ 288,065 Accumulated impairment loss (46,210 ) — — (46,210 ) Goodwill, net 82,239 — 159,616 241,855 Allocated goodwill 42,730 116,886 (159,616 ) — Balance at September 25, 2015 Goodwill before impairment 171,179 116,886 — 288,065 Accumulated impairment loss (46,210 ) — — (46,210 ) Goodwill, net $ 124,969 $ 116,886 $ — $ 241,855
Schedule of finite-lived intangible assets	The following table presents our purchased finite-lived intangible assets ( in thousands ): September 25, 2015 December 26, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-lived intangible assets (1): Customer relationships $ 123,940 $ (33,121 ) $ 90,819 $ 123,940 $ (22,195 ) $ 101,745 Trade names/trademarks 4,422 (3,313 ) 1,109 4,422 (2,878 ) 1,544 Non-compete agreements 1,800 (1,087 ) 713 1,800 (817 ) 983 Technologies 18,300 (4,900 ) 13,400 18,300 (2,212 ) 16,088 Total finite-lived intangible assets $ 148,462 $ (42,421 ) $ 106,041 $ 148,462 $ (28,102 ) $ 120,360 (1) Excludes assets that are fully amortized.
Schedule of estimated future amortization of definite-lived intangible assets	The following table provides the estimated future amortization of finite-lived intangible assets as of September 25, 2015 ( in thousands ): Remainder of 2015 $ 4,593 2016 18,186 2017 16,157 2018 14,638 2019 12,017 Thereafter 40,450 Total future amortization $ 106,041

WORKERS' COMPENSATION INSURAN29

WORKERS' COMPENSATION INSURANCE AND RESERVES (Tables)	9 Months Ended
	Sep. 25, 2015
Workers' Compensation Insurance and Reserves [Abstract]
Reconciliation of workers' compensation claims reserve	The table below presents a reconciliation of the undiscounted workers’ compensation claims reserve to the discounted workers' compensation reserve for the periods presented as follows ( in thousands ): September 25, December 26, Undiscounted workers’ compensation reserve $ 267,251 $ 256,220 Less discount on workers' compensation reserve 14,388 13,381 Workers' compensation reserve, net of discount 252,863 242,839 Less current portion 63,885 64,556 Long-term portion $ 188,978 $ 178,283

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 25, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The components of our borrowings were as follows ( in thousands ): September 25, December 26, 2014 Revolving Credit Facility $ 86,000 $ 171,994 Term Loan 27,956 29,656 Total debt 113,956 201,650 Less current portion 2,267 2,267 Long-term debt, less current portion $ 111,689 $ 199,383

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 25, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of workers’ compensation collateral commitments	We have provided our insurance carriers and certain states with commitments in the form and amounts listed below ( in thousands ): September 25, December 26, Cash collateral held by insurance carriers $ 22,217 $ 22,639 Cash and cash equivalents held in Trust 31,227 43,856 Investments held in Trust 116,319 90,095 Letters of credit (1) 4,240 6,513 Surety bonds (2) 16,971 16,861 Total collateral commitments $ 190,974 $ 179,964 (1) We have agreements with certain financial institutions to issue letters of credit as collateral. (2) Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days' notice.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 25, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of restricted and unrestricted stock and performance share units activity	Restricted and unrestricted stock awards and performance share units activity for the thirty-nine weeks ended September 25, 2015 , was as follows ( shares in thousands ): Shares Weighted- average grant-date price Non-vested at beginning of period 1,547 $ 20.03 Granted 498 $ 22.25 Vested (582 ) $ 18.06 Forfeited (274 ) $ 15.17 Non-vested at the end of the period 1,189 $ 22.32

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	9 Months Ended
	Sep. 25, 2015
Earnings Per Share [Abstract]
Schedule of adjusted net income and diluted common shares	Diluted common shares were calculated as follows ( in thousands, except per share amounts ): Thirteen weeks ended Thirty-nine weeks ended September 25, September 26, September 25, September 26, Net income $ 20,090 $ 20,910 $ 43,079 $ 38,650 Weighted average number of common shares used in basic net income per common share 41,296 40,793 41,189 40,701 Dilutive effect of outstanding stock options and non-vested restricted stock 324 245 357 270 Weighted average number of common shares used in diluted net income per common share 41,620 41,038 41,546 40,971 Net income per common share: Basic $ 0.49 $ 0.51 $ 1.05 $ 0.95 Diluted $ 0.48 $ 0.51 $ 1.04 $ 0.94 Anti-dilutive shares 91 97 227 35

ACCUMULATED OTHER COMPREHENSI34

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 25, 2015
Equity [Abstract]
Schedule of Comprehensive Income (Loss)	Changes in the balance of each component of accumulated other comprehensive income (loss) during the thirty-nine weeks ended September 25, 2015 were as follows ( in thousands ): Foreign currency translation adjustment Unrealized gain (loss) on investments (1) Total other comprehensive income (loss), net of tax Balance at beginning of period $ 848 $ 23 $ 871 Current-period other comprehensive loss (2) (1,706 ) (281 ) (1,987 ) Balance at end of period $ (858 ) $ (258 ) $ (1,116 ) (1) Consists of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities. (2) The tax impact on foreign currency translation adjustment and unrealized gain on marketable securities was de minimis for the period ended September 25, 2015 .

SUPPLEMENTAL CASH FLOW INFORM35

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 25, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	Supplemental disclosure of cash flow information ( in thousands ): Thirty-nine weeks ended September 25, 2015 September 26, 2014 Cash paid during the period for: Interest $ 2,651 $ 951 Income taxes $ 16,401 $ 10,653

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 25, 2015
Segment Reporting [Abstract]
Schedule of Segment Information	Revenue from services and income from operations associated with our segments were as follows ( in thousands ): Thirteen weeks ended Thirty-nine weeks ended September 25, 2015 September 26, 2014 September 25, 2015 September 26, 2014 Revenue from services Staffing Services $ 656,619 $ 608,543 $ 1,807,434 $ 1,457,833 Managed Services 27,299 24,822 77,513 24,822 Total Company $ 683,918 $ 633,365 $ 1,884,947 $ 1,482,655 Income from operations Staffing Services $ 50,290 $ 45,698 $ 113,353 $ 93,438 Managed Services 3,175 3,723 10,979 3,723 Depreciation and amortization (10,498 ) (9,719 ) (31,415 ) (20,126 ) Corporate unallocated (9,715 ) (10,140 ) (28,232 ) (27,074 ) Total Company 33,252 29,562 64,685 49,961 Interest and other income (expense), net (366 ) (409 ) (1,102 ) 385 Income before tax expense $ 32,886 $ 29,153 $ 63,583 $ 50,346

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Fair Value Measurement [Line Items]
Other restricted assets	$ 11,647	$ 11,836
Restricted investments classified as held-to-maturity	117,519	91,066
Carrying Value
Fair Value Measurement [Line Items]
Cash and cash equivalents	23,232	19,666
Carrying Value | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	53,944	68,359
Other restricted assets	11,647	9,972
Restricted investments classified as held-to-maturity	116,319	90,095
Total Fair Value
Fair Value Measurement [Line Items]
Cash and cash equivalents	23,232	19,666
Total Fair Value | Certificate of deposits
Fair Value Measurement [Line Items]
Marketable securities classified as available-for-sale		1,500
Total Fair Value | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	53,944	68,359
Other restricted assets	11,647	9,972
Restricted investments classified as held-to-maturity	117,519	91,066
Level 1
Fair Value Measurement [Line Items]
Cash and cash equivalents	23,232	19,666
Marketable securities classified as available-for-sale		0
Level 1 | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	53,944	68,359
Other restricted assets	11,647	9,972
Restricted investments classified as held-to-maturity	0	0
Level 2
Fair Value Measurement [Line Items]
Cash and cash equivalents	0	0
Level 2 | Certificate of deposits
Fair Value Measurement [Line Items]
Marketable securities classified as available-for-sale		1,500
Level 2 | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	0	0
Other restricted assets	0	0
Restricted investments classified as held-to-maturity	117,519	91,066
Level 3
Fair Value Measurement [Line Items]
Cash and cash equivalents	0	$ 0
Marketable securities classified as available-for-sale
Level 3 | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	0	$ 0
Other restricted assets	0	0
Restricted investments classified as held-to-maturity	$ 0	$ 0

MARKETABLE SECURITIES - Availab

MARKETABLE SECURITIES - Available-for-sale Securities (Details) $ in Millions	Dec. 26, 2014USD ($)
Due in one year [Member] | Certificate of deposits
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1.5

RESTRICTED CASH AND INVESTMEN39

RESTRICTED CASH AND INVESTMENTS (Details) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Restricted Cash and Investments [Line Items]
Cash collateral held by insurance carriers	$ 22,717	$ 22,639
Cash and cash equivalents held in Trust	31,227	43,856
Investments held in Trust	116,319	90,095
Other	11,647	11,836
Restricted cash and investments	181,910	168,426
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized Cost	116,319	90,095
Gross Unrealized Gain	1,309	1,218
Gross Unrealized Loss	(109)	(247)
Fair Value	117,519	91,066
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Amortized Cost	116,319	90,095
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	117,519	91,066
Municipal debt securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	62,289	52,406
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized Cost	62,289	52,406
Gross Unrealized Gain	918	882
Gross Unrealized Loss	(19)	(92)
Fair Value	63,188	53,196
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Amortized Cost	62,289	52,406
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	63,188	53,196
Corporate debt securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	44,978	27,715
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized Cost	44,978	27,715
Gross Unrealized Gain	284	179
Gross Unrealized Loss	(81)	(144)
Fair Value	45,181	27,750
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Amortized Cost	44,978	27,715
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	45,181	27,750
Asset-backed securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	9,052	9,974
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized Cost	9,052	9,974
Gross Unrealized Gain	107	157
Gross Unrealized Loss	(9)	(11)
Fair Value	9,150	10,120
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Amortized Cost	9,052	9,974
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	9,150	$ 10,120
Restricted Cash and Investments
Restricted Cash and Investments [Line Items]
Investments held in Trust	116,319
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Amortized Cost	116,319
Fair Value	117,519
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Due in one year or less	10,503
Due after one year through five years	62,654
Due after five years through ten years	43,162
Amortized Cost	116,319
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Due in one year or less	10,577
Due after one year through five years	63,118
Due after five years through ten years	43,824
Fair Value	$ 117,519

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Property and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 171,895	$ 162,905
Less accumulated depreciation and amortization	(115,900)	(101,513)
Property and equipment, net	55,995	61,392
Buildings and land
Property and Equipment, Net, by Type [Abstract]
Property and equipment, gross	31,558	30,381
Computers and software
Property and Equipment, Net, by Type [Abstract]
Property and equipment, gross	125,074	115,419
Furniture and equipment
Property and Equipment, Net, by Type [Abstract]
Property and equipment, gross	11,641	11,690
Construction in progress
Property and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 3,622	$ 5,415

PROPERTY AND EQUIPMENT, NET (NA

PROPERTY AND EQUIPMENT, NET (NARRATIVE) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014	Dec. 26, 2014
Property, Plant and Equipment [Line Items]
Capitalized computer software, net	$ 25.3		$ 25.3		$ 30.2
Depreciation expense	$ 5.9	$ 5.1	$ 17.1	$ 12.5

- Changes in Carrying Amount of

- Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2015	Dec. 26, 2014
Goodwill [Line Items]
Goodwill before impairment	$ 288,065	$ 288,065
Accumulated impairment loss	(46,210)	(46,210)
Goodwill, net	241,855	241,855
Allocated goodwill	0
Staffing Services
Goodwill [Line Items]
Goodwill before impairment	171,179	128,449
Accumulated impairment loss	(46,210)	(46,210)
Goodwill, net	124,969	82,239
Allocated goodwill	42,730
Managed Services
Goodwill [Line Items]
Goodwill before impairment	116,886	0
Accumulated impairment loss	0	0
Goodwill, net	116,886	0
Allocated goodwill	116,886
Unallocated Goodwill
Goodwill [Line Items]
Goodwill before impairment	0	159,616
Accumulated impairment loss	0	0
Goodwill, net	0	$ 159,616
Allocated goodwill	$ (159,616)

GOODWILL AND INTANGIBLE ASSET43

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	Sep. 25, 2015		Dec. 26, 2014
Amortizable intangible assets (1):
Gross Carrying Amount	$ 148,462		$ 148,462
Accumulated Amortization	(42,421)		(28,102)
Net Carrying Amount	106,041	[1]	120,360
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2015	4,593
2,016	18,186
2,017	16,157
2,018	14,638
2,019	12,017
Thereafter	40,450
Net Carrying Amount	106,041	[1]	120,360
Customer relationships
Amortizable intangible assets (1):
Gross Carrying Amount	123,940		123,940
Accumulated Amortization	(33,121)		(22,195)
Net Carrying Amount	90,819		101,745
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	90,819		101,745
Trade names/trademarks
Amortizable intangible assets (1):
Gross Carrying Amount	4,422		4,422
Accumulated Amortization	(3,313)		(2,878)
Net Carrying Amount	1,109		1,544
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	1,109		1,544
Non-compete agreements
Amortizable intangible assets (1):
Gross Carrying Amount	1,800		1,800
Accumulated Amortization	(1,087)		(817)
Net Carrying Amount	713		983
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	713		983
Technologies
Amortizable intangible assets (1):
Gross Carrying Amount	18,300		18,300
Accumulated Amortization	(4,900)		(2,212)
Net Carrying Amount	13,400		16,088
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	$ 13,400		$ 16,088
[1]	Excludes assets that are fully amortized

GOODWILL AND INTANGIBLE ASSET44

GOODWILL AND INTANGIBLE ASSETS - Narrative Finite Intangibles (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4.6	$ 4.6	$ 14.3	$ 7.6

GOODWILL AND INTANGIBLE ASSET45

GOODWILL AND INTANGIBLE ASSETS - Narrative Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 4.6	$ 4.6	$ 14.3	$ 7.6
Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trade name/trademarks	$ 16.2		$ 16.2

WORKERS' COMPENSATION INSURAN46

WORKERS' COMPENSATION INSURANCE AND RESERVES - Reconciliation of Workers' Compensation Claims Reserve (Details) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Workers' Compensation Deductible Limit [Line Items]
Undiscounted workers’ compensation reserve	$ 267,251	$ 256,220
Less discount on workers' compensation reserve	14,388	13,381
Workers' compensation reserve, net of discount	252,863	242,839
Less current portion	63,885	64,556
Long-term portion	$ 188,978	$ 178,283

WORKERS' COMPENSATION INSURAN47

WORKERS' COMPENSATION INSURANCE AND RESERVES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014	Dec. 26, 2014
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation claim deductible limit			$ 2
Weighted average period - claim payments below deductible limit			4 years 6 months
Payments made against self-insured claims			$ 51.8	$ 44.8
Weighted average period - claim payments and receivables above deductible limit			15 years
Excess claims	$ 46.7		$ 46.7		$ 42.6
Workers' compensation claim receivables net of valuation allowance	42.8		42.8		$ 38.7
Workers' compensation expense	$ 24.7	$ 21.6	$ 69.1	$ 55.1
Below limit
Workers' Compensation Deductible Limit [Line Items]
Weighted average rate			1.60%		1.70%

LONG-TERM DEBT Summary of long-

LONG-TERM DEBT Summary of long-term debt (Details) - USD ($) $ in Thousands	Sep. 25, 2015	Dec. 26, 2014
Debt Instrument [Line Items]
Long-term debt	$ 113,956	$ 201,650
Long-term debt, less current portion	111,689	199,383
Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member]
Debt Instrument [Line Items]
Long-term debt	86,000	171,994
Synovus Bank [Member]
Debt Instrument [Line Items]
Long-term debt	27,956	29,656
Long-term debt, current maturities	$ 2,267	$ 2,267

LONG-TERM DEBT Revolving Credit

LONG-TERM DEBT Revolving Credit Facility Narrative (Details) - USD ($)	Jun. 30, 2014	Sep. 25, 2015	Dec. 26, 2014
Revolving Credit Facility [Line Items]
Long-term debt		$ 113,956,000	$ 201,650,000
Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member]
Revolving Credit Facility [Line Items]
Long-term debt		$ 86,000,000	$ 171,994,000
Revolving Credit Facility, interest rate description	one-month
Revolving Credit Facility, interest rate at period end		1.79%
Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, maximum borrowing capacity	$ 300,000,000
Revolving Credit Facility, current borrowing capacity		$ 291,500,000
Revolving Credit Facility, amount outstanding		4,500,000
Revolving Credit Facility, utilization threshold	25.00%
Percent of Eligible Billed Accounts Receivable [Member] [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility Borrowing Limits, Percent of Accounts Receivable	90.00%
Percent of Eligible Accounts Receivable [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility Borrowing Limits, Percent of Accounts Receivable	15.00%
Percent of Eligible Unbilled Accounts Receivable [Member] [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility Borrowing Limits, Percent of Accounts Receivable	85.00%
Liquidation Value of Tacoma Headquarters Office Building [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility Borrowing Limits, Liquidation Value Requirement, Pledged Real Estate	$ 17,400,000
Revolving Credit Facility Borrowing Limits, Quarterly Reduction, Liquidation Value of Pledged Real Estate	$ 400,000
Revolving Credit Facility Borrowing Limits, Liquidation Value of Pledged Real Estate		15,700,000
Revolving Credit Facility, Liquidity Requirement Component [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, remaining borrowing capacity		201,000,000
Revolving Credit Facility, cash and cash equivalents under control agreements		24,600,000
Revolving Credit Facility, total liquidity		$ 225,600,000
London Interbank Offered Rate (LIBOR) [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, additional base rate	1.00%	1.50%
Letters of Credit, additional basis rate	0.125%
Base rate [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, additional base rate	0.50%	0.50%
Minimum [Member] | Revolving Credit Facility, Liquidity Requirement Component [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, liquidity requirement	$ 37,500,000
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Debt Instrument, basis spread on variable rate	1.25%
Minimum [Member] | Base rate [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Debt Instrument, basis spread on variable rate	0.25%
Maximum | London Interbank Offered Rate (LIBOR) [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Debt Instrument, basis spread on variable rate	2.00%
Maximum | Base rate [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Debt Instrument, basis spread on variable rate	1.00%
Less than 25% utilization [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.375%
Greater than or equal to 25% utilization [Member] | Bank of America, N.A. and Wells Fargo Capital Finance, LLC [Member] | Revolving Credit Facility [Member]
Revolving Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.25%

LONG-TERM DEBT Term Loan Agreem

LONG-TERM DEBT Term Loan Agreement (Details) $ in Thousands	Feb. 04, 2013USD ($)extension	Sep. 25, 2015USD ($)	Dec. 26, 2014USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 113,956	$ 201,650
Synovus Bank [Member]
Debt Instrument [Line Items]
Debt Instrument, face amount	$ 34,000
Debt Instrument, term	5 years
Debt Instrument, periodic payment, principal	$ 2,300
Debt Instrument, amortization term	15 years
Term Loan, interest rate description	one-month
Debt Instrument, number of extensions available to company | extension	5
Debt Instrument, extension period	1 year
Debt Instrument, interest rate at period end		1.70%
Long-term debt		$ 27,956	29,656
Long-term debt, current maturities		$ 2,267	$ 2,267
Synovus Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, basis spread on variable rate	1.50%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Workers' Compensation Commitments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2015	Dec. 26, 2014
Workers' Compensation Commitments [Line Items]
Cash collateral held by insurance carriers	$ 22,217	$ 22,639
Cash and cash equivalents held in Trust	31,227	43,856
Investments held in Trust	116,319	90,095
Letters of credit	4,240	6,513
Surety bonds	16,971	16,861
Total collateral commitments	$ 190,974	$ 179,964
Surety bonds annual fee limit, % of bond amount	2.00%
Surety bonds required cancellation notice	60 days
Minimum
Workers' Compensation Commitments [Line Items]
Surety bonds review and renewal period if elected	1 year
Maximum
Workers' Compensation Commitments [Line Items]
Surety bonds review and renewal period if elected	4 years

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted and Unrestricted Stock and Performance Share Units (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 25, 2015USD ($)$ / sharesshares
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares)	1,547,000
Granted (in shares)	498,000
Vested (in shares)	(582,000)
Forfeited (in shares)	(274,000)
Non-vested at the end of the period (in shares)	1,189,000
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Non-vested at start of the period (in dollars per share) | $ / shares	$ 20.03
Granted (in dollars per share) | $ / shares	22.25
Vested (in dollars per share) | $ / shares	18.06
Forfeited (in dollars per share) | $ / shares	15.17
Non-vested at end of the period (in dollars per share) | $ / shares	$ 22.32
Number of common stock shares represented by each performance share	1
Restricted stock
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $	$ 11
Unrecognized stock-based compensation expense, period for recognition	1 year 8 months 9 days
Performance shares
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Vesting period	3 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $	$ 3.8
Unrecognized stock-based compensation expense, period for recognition	1 year 8 months 18 days
Minimum | Restricted stock
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Vesting period	3 years
Maximum | Restricted stock
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Vesting period	4 years
Incentive Plan
Share-based Compensation by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares authorized for issuance (in shares)	7,950,000

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Option (Details)	9 Months Ended
	Sep. 25, 2015
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option expiration period	7 years

STOCK-BASED COMPENSATION - Empl

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) - Employee stock purchase plan - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP shares reserved for purchase	1,000,000
Maximum employee subscription rate	10.00%
Purchase price of common stock, percent of market value	85.00%
Employee stock purchase plan requisite service period	1 month
Stock Issued During Period, Shares, Employee Stock Purchase Plans	49,000	45,000
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options	$ 1	$ 1

STOCK-BASED COMPENSATION - Sto

STOCK-BASED COMPENSATION - Stock-based compensation expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total stock-based compensation expense	$ 2.5	$ 3.9	$ 8.3	$ 8.9

DEFINED CONTRIBUTION PLANS (Det

DEFINED CONTRIBUTION PLANS (Details) - USD ($) $ in Millions	Sep. 25, 2015	Dec. 26, 2014
Compensation and Retirement Disclosure [Abstract]
Deferred compensation liability, current and noncurrent	$ 12.2	$ 10.1

INCOME TAXES - Narrative (Deta

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Dec. 26, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	32.20%	23.20%
Discrete tax benefits	$ 3.7	$ 8
Effective Income Tax Rate Reconciliation, Expected Rate, Percent	38.10%	38.90%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%
Unrecognized Tax Benefits	$ 2.1		$ 2

NET INCOME PER SHARE (Details)

NET INCOME PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Earnings Per Share [Abstract]
Net income	$ 20,090	$ 20,910	$ 43,079	$ 38,650
Weighted average number of common shares used in basic net income per common share	41,296	40,793	41,189	40,701
Dilutive effect of outstanding stock options and non-vested restricted stock	324	245	357	270
Weighted average number of common shares used in diluted net income per common share	41,620	41,038	41,546	40,971
Net income per common share:
Basic (in dollars per share)	$ 0.49	$ 0.51	$ 1.05	$ 0.95
Diluted (in dollars per share)	$ 0.48	$ 0.51	$ 1.04	$ 0.94
Anti-dilutive shares	91	97	227	35

ACCUMULATED OTHER COMPREHENSI59

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustment, net of tax	$ (881)	$ (1,087)	$ (1,706)	$ (997)
Unrealized gain (loss) on investments, net of tax	(835)	(81)	(281)	372
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			871
Current-period other comprehensive income	(1,716)	$ (1,168)	(1,987)	$ (625)
Balance at end of period	(1,116)		(1,116)
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustment, net of tax			(1,706)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			848
Balance at end of period	(858)		(858)
Unrealized gain (loss) on marketable securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain (loss) on investments, net of tax			(281)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			23
Balance at end of period	$ (258)		$ (258)

SUPPLEMENTAL CASH FLOW INFORM60

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014
Cash paid during the period for:
Interest	$ 2,651	$ 951
Income taxes	16,401	10,653
Property, plant and equipment on account that was not yet paid	$ 200	$ 1,000

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2015	Sep. 26, 2014	Sep. 25, 2015	Sep. 26, 2014
Segment Reporting Information [Line Items]
Revenue	$ 683,918	$ 633,365	$ 1,884,947	$ 1,482,655
Depreciation and amortization	(10,498)	(9,719)	(31,415)	(20,126)
Income from operations	33,252	29,562	64,685	49,961
Interest and other income (expense), net	(366)	(409)	(1,102)	385
Income before tax expense	32,886	29,153	63,583	50,346
Corporate Segment
Segment Reporting Information [Line Items]
Income from operations	(9,715)	(10,140)	(28,232)	(27,074)
Staffing Services
Segment Reporting Information [Line Items]
Revenue	656,619	608,543	1,807,434	1,457,833
Income from operations	50,290	45,698	113,353	93,438
Managed Services
Segment Reporting Information [Line Items]
Revenue	27,299	24,822	77,513	24,822
Income from operations	$ 3,175	$ 3,723	$ 10,979	$ 3,723