TrueBlue (TBI) 10-Q 30 Jul 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 15, 2019
Entity Addresses [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-14543
Entity Registrant Name	TrueBlue, Inc.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	91-1287341
Entity Address, Address Line One	1015 A Street
Entity Address, City or Town	Tacoma
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98402
City Area Code	253
Local Phone Number	383-9101
Title of 12(b) Security	Common stock, no par value
Trading Symbol	TBI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Stock Shares Outstanding (in shares)		40,070,067
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000768899
Current Fiscal Year End Date	--12-29

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Current assets:
Cash and cash equivalents	$ 23,124	$ 46,988
Accounts receivable, net of allowance for doubtful accounts of $4,392 and $5,026	335,488	355,373
Prepaid expenses, deposits and other current assets	22,664	22,141
Income tax receivable	11,066	5,325
Total current assets	392,342	429,827
Property and equipment, net	58,647	57,671
Restricted cash and investments	222,556	235,443
Deferred income taxes, net	2,106	4,388
Goodwill	237,126	237,287
Intangible assets, net	81,358	91,408
Operating lease right-of-use assets	37,978	0
Workers’ compensation claims receivable, net	46,372	44,915
Other assets, net	16,402	13,905
Total assets	1,094,887	1,114,844
Current liabilities:
Accounts payable and other accrued expenses	45,229	62,045
Accrued wages and benefits	72,431	77,098
Current portion of workers’ compensation claims reserve	72,336	76,421
Operating lease current liabilities	14,453	0
Other current liabilities	8,269	9,962
Total current liabilities	212,718	225,526
Workers’ compensation claims reserve, less current portion	187,001	190,025
Long-term debt	24,700	80,000
Long-term deferred compensation liabilities	25,069	21,747
Operating lease long-term liabilities	25,995	0
Other long-term liabilities	4,397	6,107
Total liabilities	479,880	523,405
Commitments and contingencies (Note 6)
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; 40,058 and 40,054 shares issued and outstanding	1	1
Accumulated other comprehensive loss	(14,016)	(14,649)
Retained earnings	629,022	606,087
Total shareholders’ equity	615,007	591,439
Total liabilities and shareholders’ equity	$ 1,094,887	$ 1,114,844

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Allowance for doubtful accounts	$ 4,392	$ 5,026
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	40,058,000	40,054,000
Common stock, shares outstanding	40,058,000	40,054,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS & COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Revenue from services	$ 588,594	$ 614,301	$ 1,140,946	$ 1,168,689
Cost of services	430,277	448,717	834,253	859,837
Gross profit	158,317	165,584	306,693	308,852
Selling, general and administrative expense	127,599	134,207	257,260	259,970
Depreciation and amortization	9,827	10,101	19,779	20,191
Income from operations	20,891	21,276	29,654	28,691
Interest expense	(660)	(1,355)	(1,382)	(2,245)
Interest and other income	1,487	387	2,762	3,481
Interest and other income (expense), net	827	(968)	1,380	1,236
Income before tax expense	21,718	20,308	31,034	29,927
Income tax expense	2,312	2,576	3,352	3,440
Net income	$ 19,406	$ 17,732	$ 27,682	$ 26,487
Net income per common share:
Basic (in dollars per share)	$ 0.50	$ 0.44	$ 0.71	$ 0.66
Diluted (in dollars per share)	$ 0.49	$ 0.44	$ 0.70	$ 0.65
Weighted average shares outstanding:
Basic (in shares)	39,163	40,227	39,264	40,335
Diluted (in shares)	39,554	40,469	39,619	40,576
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive income	$ 18,713	$ 15,811	$ 28,315	$ 23,182
Accumulated other comprehensive loss
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustment	$ (693)	$ (1,921)	$ 633	$ (3,305)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Cash flows from operating activities:
Net income	$ 27,682	$ 26,487
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,779	20,191
Provision for doubtful accounts	3,761	5,571
Stock-based compensation	5,260	5,983
Deferred income taxes	2,393	1,373
Non-cash lease expense	6,934	0
Other operating activities	(2,072)	102
Changes in operating assets and liabilities:
Accounts receivable	16,162	888
Income tax receivable	(6,347)	(3,641)
Other assets	(4,472)	(3,522)
Accounts payable and other accrued expenses	(16,542)	3,468
Accrued wages and benefits	(4,667)	(1,528)
Workers’ compensation claims reserve	(7,109)	(9,235)
Operating lease liabilities	(6,957)	0
Other liabilities	3,174	3,304
Net cash provided by operating activities	36,979	49,441
Cash flows from investing activities:
Capital expenditures	(11,064)	(6,468)
Payments to Acquire Businesses, Gross	0	(22,742)
Divestiture of business	0	8,800
Purchases of restricted investments	(11,315)	(10,730)
Maturities of restricted investments	19,685	13,044
Net cash used in investing activities	(2,694)	(18,096)
Cash flows from financing activities:
Payments for Repurchase of Common Stock	(9,077)	(19,065)
Net proceeds from employee stock purchase plans	700	757
Common stock repurchases for taxes upon vesting of restricted stock	(1,631)	(2,403)
Net change in revolving credit facility	(55,300)	21,300
Payments on debt	0	(22,856)
Other	(119)	0
Net cash used in financing activities	(65,427)	(22,267)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	560	(919)
Net change in cash, cash equivalents and restricted cash	(30,582)	8,159
Cash, cash equivalents and restricted cash, beginning of period	102,450	73,831
Cash, cash equivalents and restricted cash, end of period	71,868	81,990
Supplemental Cash Flow Information [Abstract]
Interest	1,199	1,892
Income taxes	7,277	5,696
Operating lease liabilities	8,798	0
Property and equipment purchased but not yet paid	1,227	726
Divestiture non-cash consideration	0	1,657
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 7,711	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the “company,” “TrueBlue,” “we,” “us,” and “our”) are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with U.S. 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 30, 2018 . The results of operations for the thirteen and twenty-six weeks ended June 30, 2019 , are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period. Reclassifications Certain immaterial prior year amounts have been reclassified within current liabilities on our Consolidated Balance Sheets and Consolidated Statements of Cash Flows to conform to current year presentation. Leases We conduct our branch office operations from leased locations. We also lease office spaces for our centralized support functions, vehicles and equipment. Many leases require variable payments of property taxes, insurance, and common area maintenance, in addition to base rent. The variable portion of these lease payments is not included in our right-of-use assets or lease liabilities. Rather, variable payments, other than those dependent upon an index or rate, are expensed when the obligation for those payments is incurred and are included in lease expense in selling, general and administrative (“SG&A”) expense on our Consolidated Statements of Operations and Comprehensive Income. The terms of our lease agreements generally range from three to five years, some containing options to renew or cancel. We determine if an arrangement meets the definition of a lease at inception, at which time we also perform an analysis to determine whether the lease qualifies as operating or financing. Operating leases are included in operating lease right-of-use assets and operating lease current and long-term liabilities on our Consolidated Balance Sheets. Lease expense for operating leases is recognized on a straight-line basis over the lease term, and is included in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income. Financing leases are included in property and equipment, net, other current liabilities, and other long-term liabilities on our Consolidated Balance Sheets. Lease expense for financing leases is recognized as depreciation of the right-of-use asset and interest expense. Lease right-of-use assets and lease liabilities are measured using the present value of future minimum lease payments over the lease term at commencement date. The right-of-use asset also includes any lease payments made on or before the commencement date of the lease, less any lease incentives received. As the rate implicit in the lease is not readily determinable in our leases, we use our incremental borrowing rates based on the information available at the lease commencement date in determining the present value of lease payments. The incremental borrowing rates used are estimated based on what we would be required to pay for a collateralized loan over a similar term. We have lease agreements with lease and non-lease components, which are accounted for as a single lease component. For leases with an initial non-cancelable lease term of less than one year and no option to purchase, we have elected not to recognize the lease on our Consolidated Balance Sheets and instead recognize rent payments on a straight-line basis over the lease term in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income. In addition, for those leases where the right to cancel the lease is available to both TrueBlue (as the lessee) and the lessor, the lease term is the initial non-cancelable period plus the notice period, which is typically 90 days, and not greater than one year. Goodwill We evaluate goodwill for impairment on an annual basis as of the first day of our fiscal second quarter, and whenever events or circumstances make it more likely than not that an impairment may have occurred. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, client engagement, or sale or disposition of a significant portion of a reporting unit. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. We consider our operating segments to be our reporting units for goodwill impairment testing. Our operating segments are PeopleReady, Centerline, Staff Management, SIMOS, PeopleScout, and PeopleScout MSP. The impairment test involves comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the fair value exceeds the carrying value, we conclude that no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its fair value, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying value of the goodwill. Determining the fair value of a reporting unit involves the use of significant estimates and assumptions to evaluate the impact of operational and macroeconomic changes on each reporting unit. The fair value of each reporting unit is a weighted average of the income and market valuation approaches. The income approach applies a fair value methodology based on discounted cash flows. This analysis requires significant estimates and judgments, including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur, and determination of our weighted average cost of capital, which is risk-adjusted to reflect the specific risk profile of the reporting unit being tested. We also apply a market approach, which identifies similar publicly traded companies and develops a correlation, referred to as a multiple, to apply to the operating results of the reporting units. The primary market multiples to which we compare are revenue and earnings before interest, taxes, depreciation, and amortization. The income and market approaches were equally weighted in our most recent annual impairment test. We base fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates. We consider a reporting unit’s fair value to be substantially in excess of its carrying value at a 20% premium or greater. Based on our 2019 annual impairment test, the estimated fair value of our SIMOS reporting unit was in excess of its carrying value of $35 million by approximately 10% . There are two key clients that individually account for more than 10% of revenue for the SIMOS reporting unit. For each client we service multiple sites. The loss of a key client, or a significant number of key sites, could give rise to an impairment. Should any one of these events occur, we may need to record an impairment loss to goodwill for the amount by which the carrying value exceeds the reporting unit's fair value, not to exceed the total amount of goodwill. We will continue to closely monitor the operational performance of this reporting unit. All other reporting units’ fair values were substantially in excess of their respective carrying values. Accordingly, there was no impairment loss recognized for the twenty-six weeks ended June 30, 2019 . Recently adopted accounting standards Intangibles-goodwill and other-internal-use software In August 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance on accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Previously, we expensed the cost of internal development labor as incurred. The new guidance now requires these costs be capitalized with the related amortization recorded in SG&A expense. In addition, capitalized development costs are required to be recorded as a prepaid asset rather than a fixed asset, and license fees incurred during the development period are expensed as incurred. The standard is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. We elected to early adopt this new standard prospectively as of the first day of our fiscal first quarter in 2019. There was no impact on our consolidated financial statements upon adoption. Leases In February 2016, the FASB issued guidance on lease accounting. The new guidance continues to classify leases as either finance or operating, but results in the lessee recognizing most operating leases on the balance sheet as right-of-use assets and lease liabilities. This guidance was effective for annual and interim periods beginning after December 15, 2018 (Q1 2019 for TrueBlue), with early adoption permitted. In July 2018, the FASB amended the standard to provide transition relief for comparative reporting, allowing companies to adopt the provisions of the new standard using a modified retrospective transition method on the adoption date, with a cumulative-effect adjustment to retained earnings recorded on the date of adoption. We have elected to adopt the standard using the transition relief provided in the July amendment. In preparation for adoption of the standard, we have implemented internal controls and key system functionality to enable the preparation of financial information. We have elected the three practical expedients allowed for implementation of the new standard, but have not utilized the hindsight practical expedient. Accordingly, we did not reassess: 1) whether any expired or existing contracts are or contain leases; 2) the lease classification for any expired or existing leases; 3) initial direct costs for any existing leases. We have also elected the practical expedient to not separate non-lease components from the lease components to which they relate, and instead account for each as a single lease component, for all underlying asset classes. Accordingly, all expenses associated with a lease contract are accounted for as lease expenses. Adoption of the new standard resulted in the recording of operating right-of-use assets and lease liabilities of $39 million and $41 million , respectively, as of the first day of our fiscal first quarter of 2019. The difference between the right-of-use assets and lease liabilities relates to the deferred rent liability balance as of the end of fiscal 2018 associated with the leases capitalized. The deferred rent liability, which was the difference between the straight-line lease expense and cash paid, reduced the right-of-use asset upon adoption. Our accounting for finance leases remained substantially unchanged. The standard did not materially impact our Consolidated Statements of Operations and Comprehensive Income or our Consolidated Statements of Cash Flows. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued guidance on accounting for credit losses on financial instruments. This guidance sets forth a current expected credit loss model, which requires the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance requires the application of a current expected credit loss model, which is a new impairment model based on expected losses. Under this model, an entity recognizes an allowance for expected credit losses based on historical experience, current conditions and forecasted information rather than the current methodology of delaying recognition of credit losses until it is probable a loss has been incurred. This guidance is effective for fiscal years beginning after December 15, 2019 (Q1 2020 for TrueBlue) with early adoption permitted. Although the impact upon adoption will depend on the financial instruments held at that time, we do not anticipate a significant impact on our consolidated financial statements based on the instruments currently held and our historical trend of bad debt expense relating to trade accounts receivable. We plan to adopt this guidance on the effective date and are currently evaluating the impact on our accounting policies, processes, systems, and internal controls. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a significant impact on our consolidated financial statements and related disclosures.

ACQUISITION

ACQUISITION	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
ACQUISITION	ACQUISITION Effective June 12, 2018, the company acquired all of the outstanding equity interests of TMP Holdings LTD (“TMP”), through its subsidiary PeopleScout, Inc. for a cash purchase price of $22.7 million , net of cash acquired of $7.0 million . TMP is a mid-sized recruitment process outsourcing (“RPO”) and employer branding service provider operating in the United Kingdom, which is the second largest RPO market in the world. This acquisition increases our ability to win multi-continent engagements by adding a physical presence in Europe, referenceable clients and employer branding capabilities. We incurred acquisition and integration-related costs of $0.5 million , which are included in SG&A expense on the Consolidated Statements of Operations and Comprehensive Income for the thirteen and twenty-six weeks ended July 1, 2018 and cash flows from operating activities on the Consolidated Statements of Cash Flows for the twenty-six weeks ended July 1, 2018 . The following table reflects the allocation of the purchase price, net of cash acquired, to the fair value of the assets acquired and liabilities assumed: (in thousands) Purchase price allocation Cash purchase price, net of cash acquired $ 22,742 Accounts receivable 9,770 Prepaid expenses, deposits and other current assets 337 Property and equipment 435 Customer relationships 6,286 Trade names/trademarks 1,738 Total assets acquired 18,566 Accounts payable and other accrued expenses 9,139 Accrued wages and benefits 1,642 Income tax payable 205 Deferred income tax liability 1,444 Total liabilities assumed 12,430 Net identifiable assets acquired 6,136 Goodwill (1) 16,606 Total consideration allocated $ 22,742 (1) Goodwill represents the expected synergies with our existing business, the acquired assembled workforce, potential new clients and future cash flows after the acquisition of TMP, and is non-deductible for income tax purposes. Intangible assets include identifiable intangible assets for customer relationships and trade names/trademarks. We estimated the fair value of the acquired identifiable intangible assets, which are subject to amortization, using the income approach. The following table sets forth the components of identifiable intangible assets, their estimated fair values and useful lives as of June 12, 2018: (in thousands, except for estimated useful lives, in years) Estimated fair value Estimated useful life in years Customer relationships $ 6,286 3, 7 Trade names/trademarks 1,738 14 Total acquired identifiable intangible assets $ 8,024 The results of TMP’s operations and cash flows reported for 2018 on our Consolidated Statements of Operations and Comprehensive Income and Consolidated Statements of Cash Flows relate to the period from June 12, 2018 to July 1, 2018 . Revenue from TMP included in our Consolidated Statements of Operations and Comprehensive Income was $2.9 million from the acquisition date to July 1, 2018 , and $12.6 million and $26.9 million for the thirteen and twenty-six weeks ended June 30, 2019 . The acquisition of TMP was not material to our consolidated results of operations and as such, pro forma financial information was not required.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Our assets measured at fair value on a recurring basis consisted of the following: June 30, 2019 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 23,124 $ 23,124 $ — $ — Restricted cash and cash equivalents 48,744 48,744 — — Cash, cash equivalents and restricted cash (1) $ 71,868 $ 71,868 $ — $ — Municipal debt securities $ 76,084 $ — $ 76,084 $ — Corporate debt securities 69,081 — 69,081 — Agency mortgage-backed securities 1,944 — 1,944 — U.S. government and agency securities 1,045 — 1,045 — Restricted investments classified as held-to-maturity $ 148,154 $ — $ 148,154 $ — Deferred compensation mutual funds $ 28,416 $ 28,416 $ — $ — December 30, 2018 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 46,988 $ 46,988 $ — $ — Restricted cash and cash equivalents 55,462 55,462 — — Cash, cash equivalents and restricted cash (1) $ 102,450 $ 102,450 $ — $ — Municipal debt securities $ 76,690 $ — $ 76,690 $ — Corporate debt securities 75,432 — 75,432 — Agency mortgage-backed securities 2,531 — 2,531 — U.S. government and agency securities 988 — 988 — Restricted investments classified as held-to-maturity $ 155,641 $ — $ 155,641 $ — Deferred compensation mutual funds $ 23,363 $ 23,363 $ — $ — (1) Cash, cash equivalents and restricted cash consist of money market funds, deposits and investments with original maturities of three months or less. There were no material transfers between Level 1, Level 2 and Level 3 of the fair value hierarchy during the twenty-six weeks ended June 30, 2019 nor July 1, 2018 .

RESTRICTED CASH AND INVESTMENTS

RESTRICTED CASH AND INVESTMENTS	6 Months Ended
	Jun. 30, 2019
Restricted Cash and Investments [Abstract]
RESTRICTED CASH AND INVESTMENTS	RESTRICTED CASH AND INVESTMENTS The following is a summary of the carrying value of our restricted cash and investments: (in thousands) June 30, December 30, Cash collateral held by insurance carriers $ 23,877 $ 24,182 Cash and cash equivalents held in Trust 24,721 28,021 Investments held in Trust 145,396 156,618 Deferred compensation mutual funds 28,416 23,363 Other restricted cash and cash equivalents 146 3,259 Total restricted cash and investments $ 222,556 $ 235,443 Held-to-maturity Restricted cash and investments include 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 debt and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon (“Trust”). The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of June 30, 2019 and December 30, 2018 , were as follows: June 30, 2019 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 74,206 $ 1,883 $ (5 ) $ 76,084 Corporate debt securities 68,262 883 (64 ) 69,081 Agency mortgage-backed securities 1,929 21 (6 ) 1,944 U.S. government and agency securities 999 46 — 1,045 Total held-to-maturity investments $ 145,396 $ 2,833 $ (75 ) $ 148,154 December 30, 2018 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 76,750 $ 456 $ (516 ) $ 76,690 Corporate debt securities 76,310 30 (908 ) 75,432 Agency mortgage-backed securities 2,559 5 (33 ) 2,531 U.S. government and agency securities 999 — (11 ) 988 Total held-to-maturity investments $ 156,618 $ 491 $ (1,468 ) $ 155,641 The estimated fair value and gross unrealized losses of all investments classified as held-to-maturity, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2019 and December 30, 2018 , were as follows: June 30, 2019 Less than 12 months 12 months or more Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses Municipal debt securities $ — $ — $ 5,992 $ (5 ) $ 5,992 $ (5 ) Corporate debt securities — — 23,378 (64 ) 23,378 (64 ) Agency mortgage-backed securities — — 676 (6 ) 676 (6 ) Total held-to-maturity investments $ — $ — $ 30,046 $ (75 ) $ 30,046 $ (75 ) December 30, 2018 Less than 12 months 12 months or more Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses Municipal debt securities $ 12,803 $ (74 ) $ 22,638 $ (442 ) $ 35,441 $ (516 ) Corporate debt securities 22,567 (277 ) 44,463 (631 ) 67,030 (908 ) Agency mortgage-backed securities 385 — 1,375 (33 ) 1,760 (33 ) U.S. government and agency securities 988 (11 ) — — 988 (11 ) Total held-to-maturity investments $ 36,743 $ (362 ) $ 68,476 $ (1,106 ) $ 105,219 $ (1,468 ) The total number of held-to-maturity securities in an unrealized loss position as of June 30, 2019 and December 30, 2018 were 28 and 93 , respectively. The unrealized losses were the result of interest rate increases. Since the decline in estimated fair value is attributable to changes in interest rates and not credit quality, and the company has the intent and ability to hold these debt securities until recovery of amortized cost or until maturity, we do not consider these investments other than temporarily impaired. The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows: June 30, 2019 (in thousands) Amortized cost Fair value Due in one year or less $ 10,453 $ 10,442 Due after one year through five years 88,986 90,201 Due after five years through ten years 45,957 47,511 Total held-to-maturity investments $ 145,396 $ 148,154 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. Equity investments We hold mutual funds to support our deferred compensation liability. Unrealized gains related to equity investments still held at June 30, 2019 and July 1, 2018 , were $0.8 million , and $0.1 million , for the thirteen weeks then ended, respectively, and are included in SG&A expense on the Consolidated Statements of Operations and Comprehensive Income. Unrealized gains and losses related to equity investments still held at June 30, 2019 and July 1, 2018 , were a $3.2 million gain, and a $0.1 million loss, for the twenty-six weeks then ended, respectively.

WORKERS' COMPENSATION INSURANCE

WORKERS' COMPENSATION INSURANCE AND RESERVES	6 Months Ended
	Jun. 30, 2019
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. 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 2.1% and 2.0% at June 30, 2019 and December 30, 2018 , respectively. Payments made against self-insured claims are made over a weighted average period of approximately 4.5 years as of June 30, 2019 . The following table presents a reconciliation of the undiscounted workers’ compensation reserve to the discounted workers’ compensation reserve for the periods presented: (in thousands) June 30, December 30, Undiscounted workers’ compensation reserve $ 277,449 $ 284,625 Less discount on workers’ compensation reserve 18,112 18,179 Workers’ compensation reserve, net of discount 259,337 266,446 Less current portion 72,336 76,421 Long-term portion $ 187,001 $ 190,025 Payments made against self-insured claims were $32.6 million and $36.1 million for the twenty-six weeks ended June 30, 2019 and July 1, 2018 , 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. At June 30, 2019 and December 30, 2018 , the weighted average rate was 2.9% . The claim payments are made and the corresponding reimbursements from our insurance carriers are received over an estimated weighted average period of approximately 16 years . The discounted workers’ compensation reserve for excess claims and the corresponding receivable for the insurance on excess claims was $47.3 million and $48.2 million as of June 30, 2019 and December 30, 2018 , respectively. Workers’ compensation expense of $16.3 million and $17.8 million was recorded in cost of services on our Consolidated Statements of Operations and Comprehensive Income for the thirteen weeks ended June 30, 2019 and July 1, 2018 , respectively. Workers’ compensation expense of $28.2 million and $34.4 million was recorded in cost of services on our Consolidated Statements of Operations and Comprehensive Income for the twenty-six weeks ended June 30, 2019 and July 1, 2018 , respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Workers’ compensation commitments We have provided our insurance carriers and certain states with commitments in the form and amounts listed below: (in thousands) June 30, December 30, Cash collateral held by workers’ compensation insurance carriers $ 22,311 $ 22,264 Cash and cash equivalents held in Trust 24,721 28,021 Investments held in Trust 145,396 156,618 Letters of credit (1) 6,677 6,691 Surety bonds (2) 21,881 21,881 Total collateral commitments $ 220,986 $ 235,475 (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. Operating leases We have contractual commitments in the form of operating leases related to office space, vehicles and equipment. Our leases have remaining terms of up to 14 years . Most leases include one or more options to renew, which can extend the lease term up to 10 years . The exercise of lease renewal options are at our sole discretion. Typically, at the commencement of a lease, we are not reasonably certain we will exercise renewal options, and accordingly they are not considered in determining the initial lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We rent or sublease real estate to third parties in limited circumstances. Operating lease costs were comprised of the following: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, 2019 Operating lease costs $ 4,363 $ 8,635 Short-term lease costs 1,773 3,663 Other lease costs (1) 1,602 3,088 Total lease costs $ 7,738 $ 15,386 (1) Other lease costs include immaterial variable lease costs and sublease income. Other information related to our operating leases was as follows: Thirteen weeks ended June 30, 2019 Weighted average remaining lease term in years 3.5 Weighted average discount rate 4.9% Future non-cancelable minimum lease payments under our operating lease commitments as of June 30, 2019 , are as follows for each of the next five years and thereafter: (in thousands) Remainder of 2019 $ 8,565 2020 15,008 2021 10,863 2022 6,064 2023 3,822 2024 1,302 Thereafter 1,442 Total undiscounted future non-cancelable minimum lease payments (1) 47,066 Less: Imputed interest (2) 6,618 Present value of lease liabilities $ 40,448 (1) Operating lease payments exclude approximately $3.9 million of legally binding minimum lease payments for leases signed but not yet commenced. (2) Amount necessary to reduce net minimum lease payments to present value calculated using our incremental borrowing rates, which are consistent with the lease terms at adoption date (for those leases in existence as of the adoption date of the new lease standard) or lease inception (for those leases entered into after the adoption date). Future non-cancelable minimum lease payments under our operating lease commitments as of December 30, 2018 were as follows for each of the next five years and thereafter: (in thousands) 2019 $ 8,337 2020 7,192 2021 4,990 2022 2,442 2023 1,324 Thereafter 699 Total future non-cancelable minimum lease payments $ 24,984

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2019
Shareholders' Equity [Abstract]
SHAREHOLDER’S EQUITY	SHAREHOLDERS’ EQUITY Changes in shareholders’ equity Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Common stock shares Beginning balance 40,152 41,334 40,054 41,098 Purchases and retirement of common stock (156 ) (758 ) (390 ) (758 ) Issuances under equity plans, including tax benefits 58 11 366 229 Stock-based compensation 4 8 28 26 Ending balance 40,058 40,595 40,058 40,595 Common stock amount Beginning balance $ 1 $ 1 $ 1 $ 1 Current period activity — — — — Ending balance 1 1 1 1 Retained earnings Beginning balance 611,609 573,648 606,087 561,650 Net income 19,406 17,732 27,682 26,487 Purchases and retirement of common stock (1) (3,774 ) (19,066 ) (9,077 ) (19,066 ) Issuances under equity plans, including tax benefits 127 46 (930 ) (1,645 ) Stock-based compensation 1,654 2,574 5,260 5,983 Change in accounting standard cumulative-effect adjustment (2) — — — 1,525 Ending balance 629,022 574,934 629,022 574,934 Accumulated other comprehensive loss Beginning balance, net of tax (13,323 ) (9,713 ) (14,649 ) (6,804 ) Foreign currency translation adjustment (693 ) (1,921 ) 633 (3,305 ) Change in accounting standard cumulative-effect adjustment (2) — — — (1,525 ) Ending balance, net of tax (14,016 ) (11,634 ) (14,016 ) (11,634 ) Total shareholders’ equity ending balance $ 615,007 $ 563,301 $ 615,007 $ 563,301 (1) Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered. (2) As a result of our adoption of the accounting standard for equity investments issued by the FASB in January 2016, $1.5 million in unrealized gains, net of tax on equity securities previously classified as available-for-sale were reclassified from accumulated other comprehensive loss to retained earnings as of the beginning of fiscal 2018. There were no material reclassifications out of accumulated other comprehensive loss during the thirteen and twenty-six weeks ended June 30, 2019 .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Our income tax provision or benefit 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 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 by jurisdiction, tax credits, government audit developments, changes in laws, regulations and administrative practices, and relative changes in 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. Our effective tax rate for the twenty-six weeks ended June 30, 2019 was 10.8% . The difference between the statutory federal income tax rate of 21.0% and our effective income tax rate results primarily from the federal Work Opportunity Tax Credit. This tax credit is designed to encourage employers to hire workers from certain targeted groups with higher than average unemployment rates. Other differences between the statutory federal income tax rate of 21.0% and our effective tax rate result from state and foreign income taxes, certain non-deductible expenses, tax-exempt interest, and tax effects of stock-based compensation.

NET INCOME PER SHARE

NET INCOME PER SHARE	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE Diluted common shares were calculated as follows: Thirteen weeks ended Twenty-six weeks ended (in thousands, except per share data) June 30, July 1, June 30, July 1, Net income $ 19,406 $ 17,732 $ 27,682 $ 26,487 Weighted average number of common shares used in basic net income per common share 39,163 40,227 39,264 40,335 Dilutive effect of non-vested restricted stock 391 242 355 241 Weighted average number of common shares used in diluted net income per common share 39,554 40,469 39,619 40,576 Net income per common share: Basic $ 0.50 $ 0.44 $ 0.71 $ 0.66 Diluted $ 0.49 $ 0.44 $ 0.70 $ 0.65 Anti-dilutive shares 246 254 336 218

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our operating segments are based on the organizational structure for which financial results are regularly reviewed by our chief operating decision-maker, our Chief Executive Officer, to determine resource allocation and assess performance. Our operating segments, also referred to as service lines, and reportable segments are described below: Our PeopleReady reportable segment provides blue-collar, contingent staffing through the PeopleReady operating segment. PeopleReady provides on-demand and skilled labor in a broad range of industries that include construction, manufacturing and logistics, warehousing and distribution, waste and recycling, hospitality, general labor and others. Our PeopleManagement reportable segment provides contingent labor and outsourced industrial workforce solutions, primarily on-premise at the client’s facility, through the following operating segments, which we have aggregated into one reportable segment in accordance with U.S. GAAP: • Staff Management | SMX : Exclusive recruitment and on-premise management of a facility’s contingent industrial workforce; • SIMOS Insourcing Solutions : On-premise management and recruitment of warehouse/distribution operations; and • Centerline Drivers : Recruitment and management of temporary and dedicated drivers to the transportation and distribution industries. Effective March 12, 2018 , we divested the PlaneTechs business within our PeopleManagement reportable segment. Our PeopleScout reportable segment provides high-volume, permanent employee recruitment process outsourcing, and management of outsourced labor service providers through the following operating segments, which we have aggregated into one reportable segment in accordance with U.S. GAAP: • PeopleScout : Outsourced recruitment of permanent employees on behalf of clients; and • PeopleScout MSP : Management of multiple third party staffing vendors on behalf of clients. Effective June 12, 2018, we acquired TMP through PeopleScout. Accordingly, the results associated with the acquisition are included in our PeopleScout operating segment. TMP is a mid-sized RPO and employer branding service provider operating in the United Kingdom which is the second largest RPO market in the world. This acquisition increases our ability to win multi-continent engagements by adding a physical presence in Europe, referenceable clients and employer branding capabilities. We evaluate performance based on segment revenue and segment profit. Inter-segment revenue is minimal. Segment profit includes revenue, related cost of services, and ongoing operating expenses directly attributable to the reportable segment. Segment profit excludes goodwill and intangible impairment charges, depreciation and amortization expense, unallocated corporate general and administrative expense, interest, other income and expense, income taxes, and other adjustments not considered to be ongoing. The following table presents our revenue disaggregated by major source and segment and a reconciliation of segment revenue from services to total company revenue: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Revenue from services: Contingent staffing PeopleReady $ 369,261 $ 377,460 $ 696,129 $ 694,295 PeopleManagement 153,530 178,839 311,574 362,731 Human resource outsourcing PeopleScout 65,803 58,002 133,243 111,663 Total company $ 588,594 $ 614,301 $ 1,140,946 $ 1,168,689 The following table presents a reconciliation of Segment profit to income before tax expense: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Segment profit: PeopleReady $ 21,795 $ 23,198 $ 33,265 $ 32,723 PeopleManagement 4,128 4,712 6,434 10,361 PeopleScout 11,223 11,320 21,650 23,225 37,146 39,230 61,349 66,309 Corporate unallocated (3,634 ) (5,868 ) (10,911 ) (13,532 ) Work Opportunity Tax Credit processing fees (240 ) (264 ) (480 ) (459 ) Acquisition/integration costs (673 ) (457 ) (1,250 ) (457 ) Other benefits (costs) (1,881 ) (1,264 ) 725 (2,979 ) Depreciation and amortization (9,827 ) (10,101 ) (19,779 ) (20,191 ) Income from operations 20,891 21,276 29,654 28,691 Interest and other income (expense), net 827 (968 ) 1,380 1,236 Income before tax expense $ 21,718 $ 20,308 $ 31,034 $ 29,927 Asset information by reportable segment is not presented since we do not manage our segments on a balance sheet basis.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of presentation	Financial statement preparation The accompanying unaudited consolidated financial statements (“financial statements”) of TrueBlue, Inc. (the “company,” “TrueBlue,” “we,” “us,” and “our”) are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, certain information and footnote disclosures usually found in financial statements prepared in accordance with U.S. 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 30, 2018 . The results of operations for the thirteen and twenty-six weeks ended June 30, 2019 , are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period. Reclassifications Certain immaterial prior year amounts have been reclassified within current liabilities on our Consolidated Balance Sheets and Consolidated Statements of Cash Flows to conform to current year presentation.
Leases	Leases We conduct our branch office operations from leased locations. We also lease office spaces for our centralized support functions, vehicles and equipment. Many leases require variable payments of property taxes, insurance, and common area maintenance, in addition to base rent. The variable portion of these lease payments is not included in our right-of-use assets or lease liabilities. Rather, variable payments, other than those dependent upon an index or rate, are expensed when the obligation for those payments is incurred and are included in lease expense in selling, general and administrative (“SG&A”) expense on our Consolidated Statements of Operations and Comprehensive Income. The terms of our lease agreements generally range from three to five years, some containing options to renew or cancel. We determine if an arrangement meets the definition of a lease at inception, at which time we also perform an analysis to determine whether the lease qualifies as operating or financing. Operating leases are included in operating lease right-of-use assets and operating lease current and long-term liabilities on our Consolidated Balance Sheets. Lease expense for operating leases is recognized on a straight-line basis over the lease term, and is included in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income. Financing leases are included in property and equipment, net, other current liabilities, and other long-term liabilities on our Consolidated Balance Sheets. Lease expense for financing leases is recognized as depreciation of the right-of-use asset and interest expense. Lease right-of-use assets and lease liabilities are measured using the present value of future minimum lease payments over the lease term at commencement date. The right-of-use asset also includes any lease payments made on or before the commencement date of the lease, less any lease incentives received. As the rate implicit in the lease is not readily determinable in our leases, we use our incremental borrowing rates based on the information available at the lease commencement date in determining the present value of lease payments. The incremental borrowing rates used are estimated based on what we would be required to pay for a collateralized loan over a similar term. We have lease agreements with lease and non-lease components, which are accounted for as a single lease component. For leases with an initial non-cancelable lease term of less than one year and no option to purchase, we have elected not to recognize the lease on our Consolidated Balance Sheets and instead recognize rent payments on a straight-line basis over the lease term in SG&A expense on our Consolidated Statements of Operations and Comprehensive Income. In addition, for those leases where the right to cancel the lease is available to both TrueBlue (as the lessee) and the lessor, the lease term is the initial non-cancelable period plus the notice period, which is typically 90 days, and not greater than one year.
Goodwill	Goodwill We evaluate goodwill for impairment on an annual basis as of the first day of our fiscal second quarter, and whenever events or circumstances make it more likely than not that an impairment may have occurred. These events or circumstances could include a significant change in the business climate, legal factors, operating performance indicators, competition, client engagement, or sale or disposition of a significant portion of a reporting unit. We monitor the existence of potential impairment indicators throughout the fiscal year. We test for goodwill impairment at the reporting unit level. We consider our operating segments to be our reporting units for goodwill impairment testing. Our operating segments are PeopleReady, Centerline, Staff Management, SIMOS, PeopleScout, and PeopleScout MSP. The impairment test involves comparing the fair value of each reporting unit to its carrying value, including goodwill. Fair value reflects the price a market participant would be willing to pay in a potential sale of the reporting unit. If the fair value exceeds the carrying value, we conclude that no goodwill impairment has occurred. If the carrying value of the reporting unit exceeds its fair value, we recognize an impairment loss in an amount equal to the excess, not to exceed the carrying value of the goodwill. Determining the fair value of a reporting unit involves the use of significant estimates and assumptions to evaluate the impact of operational and macroeconomic changes on each reporting unit. The fair value of each reporting unit is a weighted average of the income and market valuation approaches. The income approach applies a fair value methodology based on discounted cash flows. This analysis requires significant estimates and judgments, including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth for our business, estimation of the useful life over which cash flows will occur, and determination of our weighted average cost of capital, which is risk-adjusted to reflect the specific risk profile of the reporting unit being tested. We also apply a market approach, which identifies similar publicly traded companies and develops a correlation, referred to as a multiple, to apply to the operating results of the reporting units. The primary market multiples to which we compare are revenue and earnings before interest, taxes, depreciation, and amortization. The income and market approaches were equally weighted in our most recent annual impairment test. We base fair value estimates on assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates. We consider a reporting unit’s fair value to be substantially in excess of its carrying value at a 20% premium or greater. Based on our 2019 annual impairment test, the estimated fair value of our SIMOS reporting unit was in excess of its carrying value of $35 million by approximately 10% . There are two key clients that individually account for more than 10% of revenue for the SIMOS reporting unit. For each client we service multiple sites. The loss of a key client, or a significant number of key sites, could give rise to an impairment. Should any one of these events occur, we may need to record an impairment loss to goodwill for the amount by which the carrying value exceeds the reporting unit's fair value, not to exceed the total amount of goodwill. We will continue to closely monitor the operational performance of this reporting unit. All other reporting units’ fair values were substantially in excess of their respective carrying values. Accordingly, there was no impairment loss recognized for the twenty-six weeks ended June 30, 2019 .
New Accounting Pronouncements And Changes In Accounting Principles, Policy	Recently adopted accounting standards Intangibles-goodwill and other-internal-use software In August 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance on accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Previously, we expensed the cost of internal development labor as incurred. The new guidance now requires these costs be capitalized with the related amortization recorded in SG&A expense. In addition, capitalized development costs are required to be recorded as a prepaid asset rather than a fixed asset, and license fees incurred during the development period are expensed as incurred. The standard is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. We elected to early adopt this new standard prospectively as of the first day of our fiscal first quarter in 2019. There was no impact on our consolidated financial statements upon adoption. Leases In February 2016, the FASB issued guidance on lease accounting. The new guidance continues to classify leases as either finance or operating, but results in the lessee recognizing most operating leases on the balance sheet as right-of-use assets and lease liabilities. This guidance was effective for annual and interim periods beginning after December 15, 2018 (Q1 2019 for TrueBlue), with early adoption permitted. In July 2018, the FASB amended the standard to provide transition relief for comparative reporting, allowing companies to adopt the provisions of the new standard using a modified retrospective transition method on the adoption date, with a cumulative-effect adjustment to retained earnings recorded on the date of adoption. We have elected to adopt the standard using the transition relief provided in the July amendment. In preparation for adoption of the standard, we have implemented internal controls and key system functionality to enable the preparation of financial information. We have elected the three practical expedients allowed for implementation of the new standard, but have not utilized the hindsight practical expedient. Accordingly, we did not reassess: 1) whether any expired or existing contracts are or contain leases; 2) the lease classification for any expired or existing leases; 3) initial direct costs for any existing leases. We have also elected the practical expedient to not separate non-lease components from the lease components to which they relate, and instead account for each as a single lease component, for all underlying asset classes. Accordingly, all expenses associated with a lease contract are accounted for as lease expenses. Adoption of the new standard resulted in the recording of operating right-of-use assets and lease liabilities of $39 million and $41 million , respectively, as of the first day of our fiscal first quarter of 2019. The difference between the right-of-use assets and lease liabilities relates to the deferred rent liability balance as of the end of fiscal 2018 associated with the leases capitalized. The deferred rent liability, which was the difference between the straight-line lease expense and cash paid, reduced the right-of-use asset upon adoption. Our accounting for finance leases remained substantially unchanged. The standard did not materially impact our Consolidated Statements of Operations and Comprehensive Income or our Consolidated Statements of Cash Flows. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued guidance on accounting for credit losses on financial instruments. This guidance sets forth a current expected credit loss model, which requires the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance requires the application of a current expected credit loss model, which is a new impairment model based on expected losses. Under this model, an entity recognizes an allowance for expected credit losses based on historical experience, current conditions and forecasted information rather than the current methodology of delaying recognition of credit losses until it is probable a loss has been incurred. This guidance is effective for fiscal years beginning after December 15, 2019 (Q1 2020 for TrueBlue) with early adoption permitted. Although the impact upon adoption will depend on the financial instruments held at that time, we do not anticipate a significant impact on our consolidated financial statements based on the instruments currently held and our historical trend of bad debt expense relating to trade accounts receivable. We plan to adopt this guidance on the effective date and are currently evaluating the impact on our accounting policies, processes, systems, and internal controls. No other new accounting pronouncement issued or effective during the fiscal year had, or is expected to have, a significant impact on our consolidated financial statements and related disclosures.

ACQUISITION (Tables)

ACQUISITION (Tables) - TMP	6 Months Ended
	Jun. 30, 2019
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table reflects the allocation of the purchase price, net of cash acquired, to the fair value of the assets acquired and liabilities assumed: (in thousands) Purchase price allocation Cash purchase price, net of cash acquired $ 22,742 Accounts receivable 9,770 Prepaid expenses, deposits and other current assets 337 Property and equipment 435 Customer relationships 6,286 Trade names/trademarks 1,738 Total assets acquired 18,566 Accounts payable and other accrued expenses 9,139 Accrued wages and benefits 1,642 Income tax payable 205 Deferred income tax liability 1,444 Total liabilities assumed 12,430 Net identifiable assets acquired 6,136 Goodwill (1) 16,606 Total consideration allocated $ 22,742 (1) Goodwill represents the expected synergies with our existing business, the acquired assembled workforce, potential new clients and future cash flows after the acquisition of TMP, and is non-deductible for income tax purposes.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table sets forth the components of identifiable intangible assets, their estimated fair values and useful lives as of June 12, 2018: (in thousands, except for estimated useful lives, in years) Estimated fair value Estimated useful life in years Customer relationships $ 6,286 3, 7 Trade names/trademarks 1,738 14 Total acquired identifiable intangible assets $ 8,024

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	Our assets measured at fair value on a recurring basis consisted of the following: June 30, 2019 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 23,124 $ 23,124 $ — $ — Restricted cash and cash equivalents 48,744 48,744 — — Cash, cash equivalents and restricted cash (1) $ 71,868 $ 71,868 $ — $ — Municipal debt securities $ 76,084 $ — $ 76,084 $ — Corporate debt securities 69,081 — 69,081 — Agency mortgage-backed securities 1,944 — 1,944 — U.S. government and agency securities 1,045 — 1,045 — Restricted investments classified as held-to-maturity $ 148,154 $ — $ 148,154 $ — Deferred compensation mutual funds $ 28,416 $ 28,416 $ — $ — December 30, 2018 (in thousands) Total fair value Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Cash and cash equivalents $ 46,988 $ 46,988 $ — $ — Restricted cash and cash equivalents 55,462 55,462 — — Cash, cash equivalents and restricted cash (1) $ 102,450 $ 102,450 $ — $ — Municipal debt securities $ 76,690 $ — $ 76,690 $ — Corporate debt securities 75,432 — 75,432 — Agency mortgage-backed securities 2,531 — 2,531 — U.S. government and agency securities 988 — 988 — Restricted investments classified as held-to-maturity $ 155,641 $ — $ 155,641 $ — Deferred compensation mutual funds $ 23,363 $ 23,363 $ — $ — (1) Cash, cash equivalents and restricted cash consist of money market funds, deposits and investments with original maturities of three months or less.

RESTRICTED CASH AND INVESTMEN_2

RESTRICTED CASH AND INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Restricted Cash and Investments [Abstract]
Schedule of restricted cash and investments	The following is a summary of the carrying value of our restricted cash and investments: (in thousands) June 30, December 30, Cash collateral held by insurance carriers $ 23,877 $ 24,182 Cash and cash equivalents held in Trust 24,721 28,021 Investments held in Trust 145,396 156,618 Deferred compensation mutual funds 28,416 23,363 Other restricted cash and cash equivalents 146 3,259 Total restricted cash and investments $ 222,556 $ 235,443
Schedule of held-to-maturity investments	The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of June 30, 2019 and December 30, 2018 , were as follows: June 30, 2019 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 74,206 $ 1,883 $ (5 ) $ 76,084 Corporate debt securities 68,262 883 (64 ) 69,081 Agency mortgage-backed securities 1,929 21 (6 ) 1,944 U.S. government and agency securities 999 46 — 1,045 Total held-to-maturity investments $ 145,396 $ 2,833 $ (75 ) $ 148,154 December 30, 2018 (in thousands) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Municipal debt securities $ 76,750 $ 456 $ (516 ) $ 76,690 Corporate debt securities 76,310 30 (908 ) 75,432 Agency mortgage-backed securities 2,559 5 (33 ) 2,531 U.S. government and agency securities 999 — (11 ) 988 Total held-to-maturity investments $ 156,618 $ 491 $ (1,468 ) $ 155,641
Schedule of continuous unrealized loss position	The estimated fair value and gross unrealized losses of all investments classified as held-to-maturity, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2019 and December 30, 2018 , were as follows: June 30, 2019 Less than 12 months 12 months or more Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses Municipal debt securities $ — $ — $ 5,992 $ (5 ) $ 5,992 $ (5 ) Corporate debt securities — — 23,378 (64 ) 23,378 (64 ) Agency mortgage-backed securities — — 676 (6 ) 676 (6 ) Total held-to-maturity investments $ — $ — $ 30,046 $ (75 ) $ 30,046 $ (75 ) December 30, 2018 Less than 12 months 12 months or more Total (in thousands) Estimated fair value Unrealized losses Estimated fair value Unrealized losses Estimated fair value Unrealized losses Municipal debt securities $ 12,803 $ (74 ) $ 22,638 $ (442 ) $ 35,441 $ (516 ) Corporate debt securities 22,567 (277 ) 44,463 (631 ) 67,030 (908 ) Agency mortgage-backed securities 385 — 1,375 (33 ) 1,760 (33 ) U.S. government and agency securities 988 (11 ) — — 988 (11 ) Total held-to-maturity investments $ 36,743 $ (362 ) $ 68,476 $ (1,106 ) $ 105,219 $ (1,468 )
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: June 30, 2019 (in thousands) Amortized cost Fair value Due in one year or less $ 10,453 $ 10,442 Due after one year through five years 88,986 90,201 Due after five years through ten years 45,957 47,511 Total held-to-maturity investments $ 145,396 $ 148,154

WORKERS' COMPENSATION INSURAN_2

WORKERS' COMPENSATION INSURANCE AND RESERVES (Tables)	6 Months Ended
	Jun. 30, 2019
Workers' Compensation Insurance and Reserves [Abstract]
Reconciliation of workers' compensation claims reserve	The following table presents a reconciliation of the undiscounted workers’ compensation reserve to the discounted workers’ compensation reserve for the periods presented: (in thousands) June 30, December 30, Undiscounted workers’ compensation reserve $ 277,449 $ 284,625 Less discount on workers’ compensation reserve 18,112 18,179 Workers’ compensation reserve, net of discount 259,337 266,446 Less current portion 72,336 76,421 Long-term portion $ 187,001 $ 190,025

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2019
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) June 30, December 30, Cash collateral held by workers’ compensation insurance carriers $ 22,311 $ 22,264 Cash and cash equivalents held in Trust 24,721 28,021 Investments held in Trust 145,396 156,618 Letters of credit (1) 6,677 6,691 Surety bonds (2) 21,881 21,881 Total collateral commitments $ 220,986 $ 235,475 (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.
Components of operating lease costs	Operating lease costs were comprised of the following: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, 2019 Operating lease costs $ 4,363 $ 8,635 Short-term lease costs 1,773 3,663 Other lease costs (1) 1,602 3,088 Total lease costs $ 7,738 $ 15,386 (1) Other lease costs include immaterial variable lease costs and sublease income.
Other operating lease information	Other information related to our operating leases was as follows: Thirteen weeks ended June 30, 2019 Weighted average remaining lease term in years 3.5 Weighted average discount rate 4.9%
Maturities of Operating Lease Liabilities	Future non-cancelable minimum lease payments under our operating lease commitments as of June 30, 2019 , are as follows for each of the next five years and thereafter: (in thousands) Remainder of 2019 $ 8,565 2020 15,008 2021 10,863 2022 6,064 2023 3,822 2024 1,302 Thereafter 1,442 Total undiscounted future non-cancelable minimum lease payments (1) 47,066 Less: Imputed interest (2) 6,618 Present value of lease liabilities $ 40,448 (1) Operating lease payments exclude approximately $3.9 million of legally binding minimum lease payments for leases signed but not yet commenced. (2) Amount necessary to reduce net minimum lease payments to present value calculated using our incremental borrowing rates, which are consistent with the lease terms at adoption date (for those leases in existence as of the adoption date of the new lease standard) or lease inception (for those leases entered into after the adoption date). Future non-cancelable minimum lease payments under our operating lease commitments as of December 30, 2018 were as follows for each of the next five years and thereafter: (in thousands) 2019 $ 8,337 2020 7,192 2021 4,990 2022 2,442 2023 1,324 Thereafter 699 Total future non-cancelable minimum lease payments $ 24,984

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2019
Shareholders' Equity [Abstract]
Schedule of Stockholders Equity	Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Common stock shares Beginning balance 40,152 41,334 40,054 41,098 Purchases and retirement of common stock (156 ) (758 ) (390 ) (758 ) Issuances under equity plans, including tax benefits 58 11 366 229 Stock-based compensation 4 8 28 26 Ending balance 40,058 40,595 40,058 40,595 Common stock amount Beginning balance $ 1 $ 1 $ 1 $ 1 Current period activity — — — — Ending balance 1 1 1 1 Retained earnings Beginning balance 611,609 573,648 606,087 561,650 Net income 19,406 17,732 27,682 26,487 Purchases and retirement of common stock (1) (3,774 ) (19,066 ) (9,077 ) (19,066 ) Issuances under equity plans, including tax benefits 127 46 (930 ) (1,645 ) Stock-based compensation 1,654 2,574 5,260 5,983 Change in accounting standard cumulative-effect adjustment (2) — — — 1,525 Ending balance 629,022 574,934 629,022 574,934 Accumulated other comprehensive loss Beginning balance, net of tax (13,323 ) (9,713 ) (14,649 ) (6,804 ) Foreign currency translation adjustment (693 ) (1,921 ) 633 (3,305 ) Change in accounting standard cumulative-effect adjustment (2) — — — (1,525 ) Ending balance, net of tax (14,016 ) (11,634 ) (14,016 ) (11,634 ) Total shareholders’ equity ending balance $ 615,007 $ 563,301 $ 615,007 $ 563,301 (1) Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered. (2) As a result of our adoption of the accounting standard for equity investments issued by the FASB in January 2016, $1.5 million in unrealized gains, net of tax on equity securities previously classified as available-for-sale were reclassified from accumulated other comprehensive loss to retained earnings as of the beginning of fiscal 2018. There were no material reclassifications out of accumulated other comprehensive loss during the thirteen and twenty-six weeks ended June 30, 2019 .

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of adjusted net income and diluted common shares	Diluted common shares were calculated as follows: Thirteen weeks ended Twenty-six weeks ended (in thousands, except per share data) June 30, July 1, June 30, July 1, Net income $ 19,406 $ 17,732 $ 27,682 $ 26,487 Weighted average number of common shares used in basic net income per common share 39,163 40,227 39,264 40,335 Dilutive effect of non-vested restricted stock 391 242 355 241 Weighted average number of common shares used in diluted net income per common share 39,554 40,469 39,619 40,576 Net income per common share: Basic $ 0.50 $ 0.44 $ 0.71 $ 0.66 Diluted $ 0.49 $ 0.44 $ 0.70 $ 0.65 Anti-dilutive shares 246 254 336 218

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Information	The following table presents our revenue disaggregated by major source and segment and a reconciliation of segment revenue from services to total company revenue: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Revenue from services: Contingent staffing PeopleReady $ 369,261 $ 377,460 $ 696,129 $ 694,295 PeopleManagement 153,530 178,839 311,574 362,731 Human resource outsourcing PeopleScout 65,803 58,002 133,243 111,663 Total company $ 588,594 $ 614,301 $ 1,140,946 $ 1,168,689 The following table presents a reconciliation of Segment profit to income before tax expense: Thirteen weeks ended Twenty-six weeks ended (in thousands) June 30, July 1, June 30, July 1, Segment profit: PeopleReady $ 21,795 $ 23,198 $ 33,265 $ 32,723 PeopleManagement 4,128 4,712 6,434 10,361 PeopleScout 11,223 11,320 21,650 23,225 37,146 39,230 61,349 66,309 Corporate unallocated (3,634 ) (5,868 ) (10,911 ) (13,532 ) Work Opportunity Tax Credit processing fees (240 ) (264 ) (480 ) (459 ) Acquisition/integration costs (673 ) (457 ) (1,250 ) (457 ) Other benefits (costs) (1,881 ) (1,264 ) 725 (2,979 ) Depreciation and amortization (9,827 ) (10,101 ) (19,779 ) (20,191 ) Income from operations 20,891 21,276 29,654 28,691 Interest and other income (expense), net 827 (968 ) 1,380 1,236 Income before tax expense $ 21,718 $ 20,308 $ 31,034 $ 29,927

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Recently adopted accounting standards (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018
Operating lease right-of-use assets	$ 37,978		$ 0
Present value of lease liabilities	$ 40,448
Accounting Standards Update 2016-02 [Member]
Operating lease right-of-use assets		$ 39,000
Present value of lease liabilities		$ 41,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Goodwill (Details) $ in Millions	Jun. 30, 2019USD ($)
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	20.00%
SIMOS [Member]
Goodwill [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	10.00%
Reporting Unit, Amount of Fair Value in Excess of Carrying Amount	$ 35

ACQUISITION Acquisition (Detail

ACQUISITION Acquisition (Details) - USD ($) $ in Thousands	Jun. 12, 2018	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Business Acquisition [Line Items]
Acquisition-related costs			$ 673	$ 457	$ 1,250	$ 457
Revenue from services			588,594	614,301	1,140,946	1,168,689
TMP
Business Acquisition [Line Items]
Cash purchase price, net of cash acquired	$ 22,742
Cash acquired from acquisition	$ 7,000
Acquisition-related costs				$ 500		$ 500
Revenue from services		$ 2,900	$ 12,600		$ 26,900

ACQUISITION TMP (Details)

ACQUISITION TMP (Details) - USD ($) $ in Thousands	Jun. 12, 2018	Jun. 30, 2019	Dec. 30, 2018
Business Acquisition [Line Items]
Goodwill		$ 237,126	$ 237,287
TMP
Business Acquisition [Line Items]
Cash purchase price, net of cash acquired	$ 22,742
Accounts receivable	9,770
Prepaid expenses, deposits and other current assets	337
Property and equipment	435
Intangible Assets	8,024
Total assets acquired	18,566
Accounts payable and other accrued expenses	9,139
Accrued wages and benefits	1,642
Income tax payable	205
Deferred income tax liability	1,444
Total liabilities assumed	12,430
Net identifiable assets acquired	6,136
Goodwill	16,606
Customer relationships | TMP
Business Acquisition [Line Items]
Intangible Assets	6,286
Trade name/trademarks | TMP
Business Acquisition [Line Items]
Intangible Assets	$ 1,738
Estimated useful life in years	14 years
Employer Branding [Member] | Customer relationships | TMP
Business Acquisition [Line Items]
Estimated useful life in years	3 years
RPO [Member] | Customer relationships | TMP
Business Acquisition [Line Items]
Estimated useful life in years	7 years

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018	Jul. 01, 2018	Dec. 31, 2017
Fair Value Measurement [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 71,868	$ 102,450	$ 81,990	$ 73,831
Restricted investments classified as held-to-maturity	148,154	155,641
Deferred compensation mutual funds	28,416	23,363
Municipal debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	76,084	76,690
Corporate debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	69,081	75,432
Agency mortgage-backed securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,944	2,531
U.S. government and agency securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,045	988
Total Fair Value
Fair Value Measurement [Line Items]
Cash and cash equivalents	23,124	46,988
Total Fair Value | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	48,744	55,462
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	71,868	102,450
Restricted investments classified as held-to-maturity	148,154	155,641
Deferred compensation mutual funds	28,416	23,363
Total Fair Value | Restricted Assets | Municipal debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	76,084	76,690
Total Fair Value | Restricted Assets | Corporate debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	69,081	75,432
Total Fair Value | Restricted Assets | Agency mortgage-backed securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,944	2,531
Total Fair Value | Restricted Assets | U.S. government and agency securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,045	988
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Measurement [Line Items]
Cash and cash equivalents	23,124	46,988
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	48,744	55,462
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	71,868	102,450
Restricted investments classified as held-to-maturity	0	0
Deferred compensation mutual funds	28,416	23,363
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted Assets | Municipal debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted Assets | Corporate debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted Assets | Agency mortgage-backed securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Restricted Assets | U.S. government and agency securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Significant Other Observable Inputs (Level 2)
Fair Value Measurement [Line Items]
Cash and cash equivalents	0	0
Significant Other Observable Inputs (Level 2) | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0	0
Restricted investments classified as held-to-maturity	148,154	155,641
Deferred compensation mutual funds	0	0
Significant Other Observable Inputs (Level 2) | Restricted Assets | Municipal debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	76,084	76,690
Significant Other Observable Inputs (Level 2) | Restricted Assets | Corporate debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	69,081	75,432
Significant Other Observable Inputs (Level 2) | Restricted Assets | Agency mortgage-backed securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,944	2,531
Significant Other Observable Inputs (Level 2) | Restricted Assets | U.S. government and agency securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	1,045	988
Significant Unobservable Inputs (Level 3)
Fair Value Measurement [Line Items]
Cash and cash equivalents	0	0
Significant Unobservable Inputs (Level 3) | Restricted Assets
Fair Value Measurement [Line Items]
Restricted cash and cash equivalents	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0	0
Restricted investments classified as held-to-maturity	0	0
Deferred compensation mutual funds	0	0
Significant Unobservable Inputs (Level 3) | Restricted Assets | Municipal debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Significant Unobservable Inputs (Level 3) | Restricted Assets | Corporate debt securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Significant Unobservable Inputs (Level 3) | Restricted Assets | Agency mortgage-backed securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	0	0
Significant Unobservable Inputs (Level 3) | Restricted Assets | U.S. government and agency securities
Fair Value Measurement [Line Items]
Restricted investments classified as held-to-maturity	$ 0	$ 0

RESTRICTED CASH AND INVESTMEN_3

RESTRICTED CASH AND INVESTMENTS (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)security	Jul. 01, 2018USD ($)	Jun. 30, 2019USD ($)security	Jul. 01, 2018USD ($)	Dec. 30, 2018USD ($)security
Restricted Cash and Investments [Line Items]
Cash collateral held by insurance carriers	$ 23,877		$ 23,877		$ 24,182
Cash and cash equivalents held in Trust	24,721		24,721		28,021
Investments held in Trust	145,396		145,396		156,618
Deferred compensation mutual funds	28,416		28,416		23,363
Other restricted cash and cash equivalents	146		146		3,259
Restricted cash and investments	222,556		222,556		235,443
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Gross Unrealized Gain	2,833		2,833		491
Gross Unrealized Loss	(75)		(75)		(1,468)
Fair Value	148,154		148,154		155,641
Estimated fair value
Less than 12 months	0		0		36,743
12 months or more	30,046		30,046		68,476
Total	30,046		30,046		105,219
Unrealized losses
Less than 12 months	0		0		(362)
12 months or more	(75)		(75)		(1,106)
Total	$ (75)		$ (75)		$ (1,468)
Securities in unrealized loss positions, number of positions | security	28		28		93
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	$ 148,154		$ 148,154		$ 155,641
Unrealized gain	800		3,200
Unrealized loss		$ 100		$ (100)
Municipal debt securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	74,206		74,206		76,750
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Gross Unrealized Gain	1,883		1,883		456
Gross Unrealized Loss	(5)		(5)		(516)
Fair Value	76,084		76,084		76,690
Estimated fair value
Less than 12 months	0		0		12,803
12 months or more	5,992		5,992		22,638
Total	5,992		5,992		35,441
Unrealized losses
Less than 12 months	0		0		(74)
12 months or more	(5)		(5)		(442)
Total	(5)		(5)		(516)
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	76,084		76,084		76,690
Corporate debt securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	68,262		68,262		76,310
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Gross Unrealized Gain	883		883		30
Gross Unrealized Loss	(64)		(64)		(908)
Fair Value	69,081		69,081		75,432
Estimated fair value
Less than 12 months	0		0		22,567
12 months or more	23,378		23,378		44,463
Total	23,378		23,378		67,030
Unrealized losses
Less than 12 months	0		0		(277)
12 months or more	(64)		(64)		(631)
Total	(64)		(64)		(908)
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	69,081		69,081		75,432
Agency mortgage-backed securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	1,929		1,929		2,559
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Gross Unrealized Gain	21		21		5
Gross Unrealized Loss	(6)		(6)		(33)
Fair Value	1,944		1,944		2,531
Estimated fair value
Less than 12 months	0		0		385
12 months or more	676		676		1,375
Total	676		676		1,760
Unrealized losses
Less than 12 months	0		0		0
12 months or more	(6)		(6)		(33)
Total	(6)		(6)		(33)
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	1,944		1,944		2,531
U.S. government and agency securities
Restricted Cash and Investments [Line Items]
Investments held in Trust	999		999		999
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Gross Unrealized Gain	46		46		0
Gross Unrealized Loss	0		0		(11)
Fair Value	1,045		1,045		988
Estimated fair value
Less than 12 months					988
12 months or more					0
Total					988
Unrealized losses
Less than 12 months					(11)
12 months or more					0
Total					(11)
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Fair Value	1,045		1,045		$ 988
Restricted Cash and Investments
Restricted Cash and Investments [Line Items]
Investments held in Trust	145,396		145,396
Held-to-maturity Securities, Reconciliation to Fair Value [Abstract]
Fair Value	148,154		148,154
Held-to-maturity Securities, Investment Maturities, Amortized Cost [Abstract]
Due in one year or less	10,453		10,453
Due after one year through five years	88,986		88,986
Due after five years through ten years	45,957		45,957
Held-to-maturity Securities, Investment Maturities, Fair Value [Abstract]
Due in one year or less	10,442		10,442
Due after one year through five years	90,201		90,201
Due after five years through ten years	47,511		47,511
Fair Value	$ 148,154		$ 148,154

WORKERS' COMPENSATION INSURAN_3

WORKERS' COMPENSATION INSURANCE AND RESERVES - Reconciliation of Workers' Compensation Claims Reserve (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Workers' Compensation Insurance and Reserves [Abstract]
Undiscounted workers’ compensation reserve	$ 277,449	$ 284,625
Less discount on workers’ compensation reserve	18,112	18,179
Workers' compensation reserve, net of discount	259,337	266,446
Less current portion	72,336	76,421
Long-term portion	$ 187,001	$ 190,025

WORKERS' COMPENSATION INSURAN_4

WORKERS' COMPENSATION INSURANCE AND RESERVES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018	Dec. 30, 2018
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			$ 32.6	$ 36.1
Weighted average period - claim payments and receivables above deductible limit			16 years
Excess claims	$ 47.3		$ 47.3		$ 48.2
Workers compensation expense	$ 16.3	$ 17.8	$ 28.2	$ 34.4
Below limit
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation discount			2.10%		2.00%
Above Limit
Workers' Compensation Deductible Limit [Line Items]
Workers' compensation discount			2.90%		2.90%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Workers' Compensation Commitments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 30, 2018
Workers' Compensation Commitments [Line Items]
Cash collateral held by workers’ compensation insurance carriers	$ 22,311	$ 22,264
Cash and cash equivalents held in Trust	24,721	28,021
Investments held in Trust	145,396	156,618
Letters of credit	6,677	6,691
Surety bonds	21,881	21,881
Total collateral commitments	$ 220,986	$ 235,475
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

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Lessee, Operating Lease, Term of Contract	14 years
Renewal term	10 years

- Components of Lease Expense (

- Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease costs	$ 4,363	$ 8,635
Short-term lease costs	1,773	3,663
Other lease costs	1,602	3,088
Total lease costs	$ 7,738	$ 15,386

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Lease Information, Other (Details)	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	3 years 6 months
Operating Lease, Weighted Average Discount Rate, Percent	4.90%

- Maturities of Operating and F

- Maturities of Operating and Financing Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 30, 2018
Operating leases
Remainder of 2019	$ 8,565
2020	15,008
2021	10,863
2022	6,064
2023	3,822
2024	1,302
Thereafter	1,442
Total undiscounted future non-cancelable minimum lease payments (1)	47,066
Total undiscounted future non-cancelable minimum lease payments		$ 24,984
Less: Imputed interest	6,618
Present value of lease liabilities	40,448
Pending lease	$ 3,900

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Operating Minimum Leases (Details) $ in Thousands	Dec. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 8,337
2020	7,192
2021	4,990
2022	2,442
2023	1,324
Thereafter	699
Total future non-cancelable minimum lease payments	$ 24,984

SHAREHOLDERS' EQUITY Changes in

SHAREHOLDERS' EQUITY Changes in Shareholders’ Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			40,054
Ending balance (in shares)	40,058		40,058
Beginning balance			$ 591,439
Net income	$ 19,406	$ 17,732	27,682	$ 26,487
Ending balance, net of tax	$ 615,007	$ 563,301	$ 615,007	$ 563,301
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	40,152	41,334	40,054	41,098
Purchases and retirement of common stock (in shares)	(156)	(758)	(390)	(758)
Issuances under equity plans, including tax benefits (in shares)	58	11	366	229
Stock-based compensation (in shares)	4	8	28	26
Ending balance (in shares)	40,058	40,595	40,058	40,595
Beginning balance	$ 1	$ 1	$ 1	$ 1
Ending balance, net of tax	1	1	1	1
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	611,609	573,648	606,087	561,650
Net income	19,406	17,732	27,682	26,487
Purchases and retirement of common stock	(3,774)	(19,066)	(9,077)	(19,066)
Issuances under equity plans, including tax benefits	127	46	(930)	(1,645)
Stock-based compensation	1,654	2,574	5,260	5,983
Change in accounting standard cumulative-effect adjustment	0	0	0	(1,525)
Ending balance, net of tax	629,022	574,934	629,022	574,934
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(13,323)	(9,713)	(14,649)	(6,804)
Change in accounting standard cumulative-effect adjustment	0	0	0	1,525
Foreign currency translation adjustment	(693)	(1,921)	633	(3,305)
Ending balance, net of tax	$ (14,016)	$ (11,634)	$ (14,016)	$ (11,634)

INCOME TAXES - Narrative (Deta

INCOME TAXES - Narrative (Details)	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	10.80%
Income tax expense (benefit) based on statutory rate	21.00%

NET INCOME (LOSS) PER SHARE (De

NET INCOME (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Earnings Per Share [Abstract]
Net income	$ 19,406	$ 17,732	$ 27,682	$ 26,487
Weighted average number of common shares used in basic net income per common share	39,163	40,227	39,264	40,335
Dilutive effect of non-vested restricted stock	391	242	355	241
Weighted average number of common shares used in diluted net income per common share	39,554	40,469	39,619	40,576
Net income per common share:
Basic (in dollars per share)	$ 0.50	$ 0.44	$ 0.71	$ 0.66
Diluted (in dollars per share)	$ 0.49	$ 0.44	$ 0.70	$ 0.65
Anti-dilutive shares	246	254	336	218

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jun. 30, 2019	Jul. 01, 2018
Segment Reporting Information [Line Items]
Revenue	$ 588,594	$ 614,301	$ 1,140,946	$ 1,168,689
Segment profit	37,146	39,230	61,349	66,309
Work Opportunity Tax Credit processing fees	(240)	(264)	(480)	(459)
Acquisition/integration costs	(673)	(457)	(1,250)	(457)
Other benefits (costs)	(1,881)	(1,264)	725	(2,979)
Depreciation and amortization	(9,827)	(10,101)	(19,779)	(20,191)
Income from operations	20,891	21,276	29,654	28,691
Interest and other income (expense), net	827	(968)	1,380	1,236
Income before tax expense	21,718	20,308	31,034	29,927
PeopleReady
Segment Reporting Information [Line Items]
Segment profit	21,795	23,198	33,265	32,723
PeopleManagement
Segment Reporting Information [Line Items]
Segment profit	4,128	4,712	6,434	10,361
PeopleScout
Segment Reporting Information [Line Items]
Segment profit	11,223	11,320	21,650	23,225
Corporate Segment
Segment Reporting Information [Line Items]
Corporate unallocated	(3,634)	(5,868)	(10,911)	(13,532)
Contingent staffing | PeopleReady
Segment Reporting Information [Line Items]
Revenue	369,261	377,460	696,129	694,295
Contingent staffing | PeopleManagement
Segment Reporting Information [Line Items]
Revenue	153,530	178,839	311,574	362,731
Human resource outsourcing | PeopleScout
Segment Reporting Information [Line Items]
Revenue	$ 65,803	$ 58,002	$ 133,243	$ 111,663