TriNet (TNET) 10-Q 27 Jul 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 20, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36373
Entity Registrant Name	TRINET GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3359658
Entity Address, Address Line One	One Park Place, Suite 600
Entity Address, City or Town	Dublin,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94568
City Area Code	510
Local Phone Number	352-5000
Title of 12(b) Security	Common stock par value $0.000025 per share
Trading Symbol	TNET
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		67,295,561
Entity Central Index Key	0000937098
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	44012
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenues	$ 948	$ 935	$ 1,996	$ 1,869
Costs and operating expenses:
Insurance costs	613	704	1,378	1,387
Cost of providing services	60	63	124	127
Sales and marketing	45	52	91	98
General and administrative	35	36	68	72
Systems development and programming	9	13	18	25
Depreciation and amortization of intangible assets	13	12	24	23
Total costs and operating expenses	775	880	1,703	1,732
Operating income	173	55	293	137
Other income (expense):
Interest expense, bank fees and other	(4)	(6)	(8)	(11)
Interest income	2	7	7	13
Income before provision for income taxes	171	56	292	139
Income taxes	45	10	75	30
Net income	126	46	217	109
Other comprehensive income, net of income taxes	3	1	5	1
Comprehensive income	$ 129	$ 47	$ 222	$ 110
Net income per share:
Basic (in dollars per share)	$ 1.88	$ 0.65	$ 3.16	$ 1.56
Diluted (in dollars per share)	$ 1.87	$ 0.64	$ 3.13	$ 1.53
Weighted average shares:
Basic (in shares)	67	70	69	70
Diluted (in shares)	68	71	70	71
Professional service revenues
Total revenues	$ 121	$ 127	$ 277	$ 263
Insurance service revenues
Total revenues	$ 827	$ 808	$ 1,719	$ 1,606

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 637	$ 213
Investments	76	68
Restricted cash, cash equivalents and investments	735	1,180
Accounts receivable, net	5	9
Unbilled revenue, net	352	285
Prepaid expenses, net	50	52
Other current assets	80	64
Total current assets	1,935	1,871
Restricted cash, cash equivalents and investments, noncurrent	204	212
Investments, noncurrent	128	125
Property, equipment and software, net	82	85
Operating lease right-of-use asset	46	55
Goodwill	289	289
Other intangible assets, net	13	15
Other assets	105	96
Total assets	2,802	2,748
Current liabilities:
Accounts payable and other current liabilities	101	31
Revolving credit agreement borrowings	234	0
Long-term debt	22	22
Client deposits and other client liabilities	146	44
Accrued wages	411	391
Accrued health insurance costs, net	145	167
Accrued workers' compensation costs, net	62	61
Payroll tax liabilities and other payroll withholdings	426	901
Operating lease liabilities	13	17
Insurance premiums and other payables	11	9
Total current liabilities	1,571	1,643
Long-term debt, noncurrent	358	369
Accrued workers' compensation costs, noncurrent, net	141	144
Deferred taxes	63	61
Operating lease liabilities, noncurrent	43	48
Other non-current liabilities	10	8
Total liabilities	2,186	2,273
Commitments and contingencies (see Note 7)
Stockholders’ equity:
Preferred stock	0	0
Common stock and additional paid-in capital	719	694
Accumulated deficit	(108)	(219)
Accumulated other comprehensive income	5	0
Total stockholders' equity	616	475
Total liabilities & stockholders' equity	$ 2,802	$ 2,748

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Preferred stock
Preferred stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock
Common stock, par value (in dollars per share)	$ 0.000025	$ 0.000025
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	67,292,864	69,065,491
Common stock, shares outstanding (in shares)	67,292,864	69,065,491

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock and Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2018	$ 375	$ 641	$ (266)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options		2
Issuance of common stock for employee stock purchase plan		4
Stock-based compensation expense		20
Net income	109		109
Repurchase of common stock			(62)
Awards effectively repurchased for required employee withholding taxes			(10)
Other comprehensive income, net of income taxes	1			1
Ending balance at Jun. 30, 2019	439	667	(229)	1
Beginning balance at Mar. 31, 2019	406	651	(245)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options		1
Issuance of common stock for employee stock purchase plan		4
Stock-based compensation expense		11
Net income	46		46
Repurchase of common stock			(24)
Awards effectively repurchased for required employee withholding taxes			(6)
Other comprehensive income, net of income taxes	1			1
Ending balance at Jun. 30, 2019	439	667	(229)	1
Beginning balance at Dec. 31, 2019	475	694	(219)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options		0
Issuance of common stock for employee stock purchase plan		5
Stock-based compensation expense		20
Net income	217		217
Repurchase of common stock	(100)		(100)
Awards effectively repurchased for required employee withholding taxes			(6)
Other comprehensive income, net of income taxes	5			5
Ending balance at Jun. 30, 2020	616	719	(108)	5
Beginning balance at Mar. 31, 2020	533	703	(172)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options		0
Issuance of common stock for employee stock purchase plan		5
Stock-based compensation expense		11
Net income	126		126
Repurchase of common stock			(60)
Awards effectively repurchased for required employee withholding taxes			(2)
Other comprehensive income, net of income taxes	3			3
Ending balance at Jun. 30, 2020	$ 616	$ 719	$ (108)	$ 5

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net income	$ 217	$ 109
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	32	27
Amortization of ROU	8	10
Accretion of discount rate on lease liabilities	1	0
Stock based compensation	20	20
Changes in operating assets and liabilities:
Accounts receivable, net	4	3
Unbilled revenue, net	(67)	(36)
Prepaid expenses, net	2	(18)
Accounts payable and other current liabilities	69	(11)
Client deposits and other client liabilities	102	10
Accrued wages	20	25
Accrued health insurance costs, net	(22)	9
Accrued workers' compensation costs, net	(2)	(13)
Payroll taxes payable and other payroll withholdings	(475)	(256)
Operating lease liabilities	(10)	(9)
Other assets	(32)	(30)
Other liabilities	3	(2)
Net cash used in operating activities	(130)	(162)
Investing activities
Purchases of marketable securities	(222)	(65)
Proceeds from sales and maturities of marketable securities	119	65
Acquisitions of property and equipment	(18)	(25)
Net cash used in investing activities	(121)	(25)
Financing activities
Repurchase of common stock	(100)	(62)
Proceeds from issuance of common stock	5	6
Awards effectively repurchased for required employee withholding taxes	(6)	(10)
Proceeds from revolving credit agreement borrowings	234	0
Repayment of debt	(11)	(11)
Net cash provided by (used in) financing activities	122	(77)
Net decrease in cash and cash equivalents, unrestricted and restricted	(129)	(264)
Cash and cash equivalents, unrestricted and restricted:
Beginning of period	1,456	1,349
End of period	1,327	1,085
Supplemental disclosures of cash flow information
Interest paid	7	9
Income taxes paid, net	6	33
Supplemental schedule of noncash investing and financing activities
Payable for purchase of property and equipment	$ 2	$ 8

Description of Business and Sig

Description of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business TriNet Group, Inc. (TriNet, or the Company, we, our and us), a professional employer organization, provides comprehensive human resources solutions for small to midsize businesses under a co-employment model. These HR solutions include multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers' compensation insurance and claims management, employment and benefit law compliance, and other HR-related services. Through the co-employment relationship, we are the employer of record for certain employment-related administrative and regulatory purposes for the worksite employees (WSEs), including: • compensation through wages and salaries, • employer payroll-related tax payments, • employee payroll-related tax withholdings and payments, • employee benefit programs, including health and life insurance, and others, and • workers' compensation coverage. Our clients are responsible for the day-to-day job responsibilities of the WSEs. We operate in one reportable segment. All of our service revenues are generated from external clients. Less than 1% of our revenue is generated outside of the U.S. Basis of Presentation These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Rules and Regulations of the Securities and Exchange Commission. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, that are normal and recurring in nature, necessary for fair financial statement presentation. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the operating results anticipated for the full year. These Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in Part II, Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K for the year ended December 31, 2019 ( 2019 Form 10-K). Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect certain reported amounts and related disclosures. These estimates are based on historical experience and on various other assumptions that we believe to be reasonable from the facts available to us. Some of the assumptions are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial statements could be materially affected. Revenue Recognition Performance Obligation: Recovery Credit In April 2020, we created our Recovery Credit program to assist in the economic recovery of our existing SMB clients and enhance our ability to retain these clients. Eligible clients will receive one-time reductions against fees for future services, accounted for as a discount, over the next two years . This option to renew future services at a discount represents a material right and is accounted for as a new performance obligation (Recovery Credit). This performance obligation will be satisfied when the clients have successfully renewed the services contracts and the future services are transferred. The consideration we receive that is allocated to this performance obligation is deferred as an unsatisfied performance obligation and is included in client deposits and other client liabilities on the balance sheet. The amount of consideration we defer each period is dependent on the timing of when eligible clients will receive the Recovery Credit and the ultimate amount of the total Recovery Credit. The ultimate amount that clients will receive is dependent on future net insurance performance. Client Deposits and Other Client Liabilities Client deposits and other client liabilities represents our contractual commitments and payables to clients, including indemnity guarantee payment received from clients, prefund by clients for their payroll and related taxes and other withholding liabilities before payroll is processed or due for payment, as well as service fee consideration received for unsatisfied performance obligations of $56 million . Unbilled Revenue We recognize WSE payroll and payroll tax liabilities in the period in which the WSEs perform work. When clients' pay periods cross reporting periods, we accrue the portion of the unpaid WSE payroll where we assume, under state regulations, the obligation for the payment of wages and the corresponding payroll tax liabilities associated with the work performed prior to period-end. These estimated payroll and payroll tax liabilities are recorded in accrued wages. The associated receivables, including estimated revenues, offset by advance collections from clients and an allowance for credit losses, are recorded as unbilled revenue. As of June 30, 2020 , advance collections included in unbilled revenue were $49 million . Investments Our investments are primarily classified as available-for-sale and are carried at estimated fair value. Unrealized gains and losses are reported as a component of accumulated other comprehensive income, net of deferred income taxes. The amortized cost of debt investments is adjusted for amortization of premiums and accretion of discounts from the date of purchase to the earliest call date for premiums or the maturity date for discounts. Such amortization is included in interest income as an addition to or deduction from the coupon interest earned on the investments. We use the specific identification method to determine realized gains and losses on the sale of available-for-sale securities. Realized gains and losses are included in interest income in the accompanying consolidated statements of income and comprehensive income. We assess our investments for credit impairment. We review several factors to determine whether an unrealized loss is credit related, such as the financial condition and future prospects of the issuer. To the extent that a security’s amortized cost basis exceeds the present value of the cash flows expected to be collected from the security, an allowance for credit losses will be recognized. If management intends to sell or will more likely than not be required to sell the security before any anticipated recovery, a write down will be recognized in earnings measured as the entire difference between the amortized cost and the then-current fair value. We have investments within our unrestricted and our restricted accounts. Unrestricted investments are recorded on the balance sheet as current or noncurrent based upon the remaining time to maturity, and investments subject to restrictions are classified as current or noncurrent based on the expected payout of the related liability. Accounts Receivable Our accounts receivable represents outstanding gross billings to clients, net of an allowance for estimated credit losses. We require our clients to prefund payroll and related liabilities before payroll is processed or due for payment. If a client fails to fund payroll or misses the funding cut-off, at our sole discretion, we may pay the payroll and the resulting amounts due to us are recognized as accounts receivable. When client payment is received in advance of our performance under the contract, such amount is recorded as client deposits. We establish an allowance for credit losses based on the credit quality of clients, current economic conditions, the age of the accounts receivable balances, historical experience, and other factors that may affect clients’ ability to pay, and charge-off amounts against the allowance when they are deemed uncollectible. The allowance was insignificant at June 30, 2020 and December 31, 2019 . Accrued Health Insurance Costs We sponsor and administer a number of fully insured, risk-based employee benefit plans, including group health, dental, and vision as an employer plan sponsor under section 3(5) of the ERISA. In the six months ended June 30, 2020 , a majority of our group health insurance costs related to risk-based plans. Our remaining group health insurance costs were for guaranteed-cost policies. Accrued health insurance costs are established to provide for the estimated unpaid costs of reimbursing the carriers for paying claims within the deductible layer in accordance with risk-based health insurance policies. These accrued costs include estimates for reported losses, plus estimates for claims incurred but not paid. We assess accrued health insurance costs regularly based upon external actuarial studies that include other relevant factors such as current and historical claims payment patterns, plan enrollment and medical trend rates. In certain carrier contracts we are required to prepay the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of June 30, 2020 and December 31, 2019 , prepayments and miscellaneous receivables offsetting accrued health insurance costs were $48 million and $39 million , respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of June 30, 2020 and December 31, 2019 , accrued health insurance costs offsetting prepaid expenses were $53 million and $52 million , respectively. Recent Accounting Pronouncements Recently adopted accounting guidance We adopted ASU 2016-13 - Financial Instruments - Credit Losses (ASC Topic 326) effective January 1, 2020 using a modified retrospective approach, under which we recognized the cumulative effects of initially applying the Standard as an adjustment to the opening balance of retained earnings on January 1, 2020 with unchanged comparative periods. We are required to use forward-looking information when evaluating an allowance for our accounts receivable, unbilled revenue and other financial assets measured at amortized cost. ASC Topic 326 also modified the impairment guidance for available-for-sale debt securities to require an allowance for credit losses. The adoption of ASC Topic 326 did not have a material effect on our financial statements.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	6 Months Ended
	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND INVESTMENTS	CASH, CASH EQUIVALENTS AND INVESTMENTS Under the terms of the agreements with certain of our workers' compensation and health benefit insurance carriers, we are required to maintain collateral in trust accounts for the benefit of specified insurance carriers and to reimburse the carriers’ claim payments within our deductible layer. We invest a portion of the collateral amounts in marketable securities. We report the current and noncurrent portions of these trust accounts as restricted cash, cash equivalents and investments on the consolidated balance sheets. We require our clients to prefund their payroll and related taxes and other withholding liabilities before payroll is processed or due for payment. This prefund is included in restricted cash, cash equivalents and investments as payroll funds collected, which is designated to pay pending payrolls, payroll tax liabilities and other payroll withholdings. We also invest available corporate funds, primarily in fixed income securities which meet the requirements of our corporate investment policy and are classified as available for sale (AFS). Our total cash, cash equivalents and investments are summarized below: June 30, 2020 December 31, 2019 (in millions) Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents Available-for-sale marketable securities Certificate of deposits Total Cash and cash equivalents $ 637 $ — $ 637 $ 213 $ — $ — $ 213 Investments — 76 76 — 68 — 68 Restricted cash, cash equivalents and investments: Payroll funds collected 566 — 566 1,018 — — 1,018 Collateral for health benefits claims 18 86 104 98 — — 98 Collateral for workers' compensation claims 63 — 63 62 — — 62 Other security deposits 2 — 2 2 — — 2 Total restricted cash, cash equivalents and investments 649 86 735 1,180 — — 1,180 Investments, noncurrent — 128 128 — 125 — 125 Restricted cash, cash equivalents and investments, noncurrent Collateral for workers' compensation claims 41 163 204 63 148 1 212 Total $ 1,327 $ 453 $ 1,780 $ 1,456 $ 341 $ 1 $ 1,798

Investments

Investments	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our AFS investments as of June 30, 2020 and December 31, 2019 are presented below. June 30, 2020 December 31, 2019 (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Asset-backed securities $ 22 $ — $ — $ 22 $ 30 $ — $ — $ 30 Corporate bonds 111 3 — 114 123 1 — 124 U.S. government agencies and government- sponsored agencies 24 1 — 25 14 — — 14 U.S. treasuries 280 5 — 285 163 — — 163 Certificate of deposit — — — — 1 — — 1 Other debt securities 7 — — 7 10 — — 10 Total $ 444 $ 9 $ — $ 453 $ 341 $ 1 $ — $ 342 Gross unrealized losses were immaterial at June 30, 2020 and December 31, 2019 . Unrealized losses on fixed income securities are principally caused by changes in interest rates and the financial condition of the issuer. In analyzing an issuer's financial condition, we consider whether the securities are issued by the federal government or its agencies, whether downgrades by credit rating agencies have occurred, and industry analysts' reports. As we have the ability to hold these investments until maturity, or for the foreseeable future, no decline was deemed to be other-than-temporary. Actual maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. The fair value of debt investments by contractual maturity are shown below: (in millions) June 30, 2020 One year or less $ 112 Over one year through five years 312 Over five years through ten years 9 Over ten years 20 Total fair value $ 453 The gross proceeds from sales and maturities of AFS securities for the three and six months ended June 30, 2020 and June 30, 2019 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three and six months ended June 30, 2020 and 2019 . Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Gross proceeds from sales $ 12 $ 14 $ 52 $ 28 Gross proceeds from maturities 40 19 67 36 Total 52 33 $ 119 $ 64

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments We use an independent pricing source to determine the fair value of our securities. The independent pricing source utilizes various pricing models for each asset class; including the market approach. The inputs and assumptions for the pricing models are market observable inputs including trades of comparable securities, dealer quotes, credit spreads, yield curves and other market-related data. We have not adjusted the prices obtained from the independent pricing service and we believe the prices received from the independent pricing service are representative of the prices that would be received to sell the assets at the measurement date (exit price). The carrying value of the Company's cash equivalents and restricted cash equivalents approximate their fair values due to their short-term maturities. We did not have any Level 3 financial instruments recognized in our balance sheet as of June 30, 2020 and December 31, 2019 . There were no transfers between levels as of June 30, 2020 and December 31, 2019 . Fair Value Measurements on a Recurring Basis The following table summarizes our financial instruments by significant categories and fair value measurement on a recurring basis as of June 30, 2020 and December 31, 2019 . (in millions) Level 1 Level 2 Total June 30, 2020 Cash equivalents: Money market mutual funds $ 286 $ — 286 Total cash equivalents 286 — 286 Investments: Asset-backed securities — 22 22 Corporate bonds — 83 83 U.S. government agencies and government-sponsored agencies — 6 6 U.S. treasuries — 86 86 Other debt securities — 7 7 Total investments — 204 204 Restricted cash equivalents: Money market mutual funds 91 — 91 Commercial paper 14 — 14 Total restricted cash equivalents 105 — 105 Restricted investments: Corporate bonds — 31 31 U.S. government agencies and government-sponsored agencies — 19 19 U.S. treasuries — 199 199 Total restricted investments — 249 249 Total cash equivalents and investments and restricted cash equivalents and investments $ 391 $ 453 $ 844 (in millions) Level 1 Level 2 Total December 31, 2019 Cash equivalents Money market mutual funds $ 89 $ — $ 89 U.S. treasuries — 3 3 Total cash equivalents 89 3 92 Investments Asset-backed securities — 30 30 Corporate bonds — 96 96 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 53 53 Other debt securities — 10 10 Total investments — 194 194 Restricted cash equivalents: Money market mutual funds 42 — 42 U.S. treasuries — 12 12 Certificate of deposit — 2 2 Commercial paper 14 — 14 Total restricted cash equivalents 56 14 70 Restricted investments: Corporate bonds — 28 28 U.S. government agencies and government-sponsored agencies — 9 9 U.S. treasuries — 110 110 Certificate of deposit — 1 1 Total restricted investments — 148 148 Total investments and restricted cash equivalents and investments $ 145 $ 359 $ 504 Fair Value of Financial Instruments Disclosure Long-Term Debt and Revolving Credit Agreement Borrowings Our long-term debt and revolving credit agreement borrowings are floating rate debt. At June 30, 2020 and December 31, 2019 , the fair value of our floating rate long-term debt approximated its carrying value (exclusive of issuance costs). The fair value of our floating rate debt is estimated based on a discounted cash flow, which incorporates credit spreads, market interest rates and contractual maturities to estimate the fair value and is considered Level 3 in the hierarchy for fair value measurement. Derivative Instruments In June 2019, we entered into an interest rate collar derivative transaction with no upfront premium to mitigate the risk of changes in interest rates on the interest payments on a portion of our floating rate debt. If short-term interest rates increase, we will incur higher interest expense on any future outstanding balances of floating rate debt. We use this derivative as part of our interest rate risk management strategy and designated it as a cash flow hedge. If interest rates rise above the cap strike rate on the contract, we will receive variable-rate amounts and if interest rates fall below the floor strike rate on the contract, we will pay variable-rate amounts. The following table summarizes the fair value of our derivative instruments at June 30, 2020 : Fair Market Value June 30, 2020 December 31, 2019 (in millions) Hedge type Final settlement date Notional amount Other current assets Accounts payable and other current liabilities Other current assets Accounts payable and other current liabilities Derivatives designated as hedging instruments Collar - LIBOR Cash flow May 2022 $ 213 $ — $ 2 $ — $ — The pre-tax effect of derivative instruments for the first half of 2020 is insignificant and we estimate approximately $1 million of net derivative gains or losses included in other comprehensive income will be reclassified into earnings within the following 12 months. There were insignificant cash flows associated with the derivative for the six months ended June 30, 2020 and for the year ended December 31, 2019 . As of June 30, 2020 and December 31, 2019 , we do not hold, nor have we posted, any collateral related to the above derivative instrument. The interest rate collar derivative is classified as Level 2 in the fair value hierarchy as its value is determined using observable inputs such as forward LIBOR curves.

Accrued Workers' Compensation C

Accrued Workers' Compensation Cost	6 Months Ended
	Jun. 30, 2020
Insurance [Abstract]
ACCRUED WORKERS' COMPENSATION COSTS	ACCRUED WORKERS' COMPENSATION COSTS The following table summarizes the accrued workers’ compensation cost activity for the three and six months ended June 30, 2020 and 2019 : Three Months Ended Six Months Ended (in millions) 2020 2019 2020 2019 Total accrued costs, beginning of period $ 217 $ 236 $ 214 $ 238 Incurred Current year 13 16 33 35 Prior years (6 ) (11 ) (9 ) (16 ) Total incurred 7 5 24 19 Paid Current year (2 ) (2 ) (3 ) (3 ) Prior years (11 ) (15 ) (24 ) (30 ) Total paid (13 ) (17 ) (27 ) (33 ) Total accrued costs, end of period $ 211 $ 224 $ 211 $ 224 The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets: (in millions) June 30, 2020 December 31, 2019 Total accrued costs, end of period $ 211 $ 214 Collateral paid to carriers and offset against accrued costs (8 ) (9 ) Total accrued costs, net of carrier collateral offset $ 203 $ 205 Payable in less than 1 year $2 and $3 at June 30, 2020 and December 31, 2019, respectively.) $ 62 $ 61 Payable in more than 1 year $6 at June 30, 2020 and December 31, 2019.) 141 144 Total accrued costs, net of carrier collateral offset $ 203 $ 205 Incurred claims related to prior years represent changes in estimates for ultimate losses on workers' compensation claims. For the three and six months ended June 30, 2020 , the change was primarily due to a decrease in estimate of ultimate losses related to older plan years and recognition of current year development of ultimate loss. As of June 30, 2020 and December 31, 2019 , we had $45 million and $46 million , respectively, of collateral held by insurance carriers of which $8 million and $9 million

Revolving Credit Agreement Borr

Revolving Credit Agreement Borrowings	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
REVOLVING CREDIT AGREEMENT BORROWINGS	REVOLVING CREDIT AGREEMENT BORROWINGS As of June 30, 2020 , our revolving credit agreement borrowings consisted of the following: (in millions) June 30, 2020 Current Liabilities: Revolving credit facility $ 234 Annual contractual interest rate 1.81 % Effective interest rate 2.19 % Our credit agreement entered in June 2018 (2018 Credit Agreement) includes a $250 million revolving credit facility (2018 Revolver), which could be used solely for working capital and other general corporate purposes. Letters of credit issued pursuant to the revolving credit facility reduce the amount available for borrowing under the 2018 Revolver. In March 2020, we drew down $234 million under this facility. As of June 30, 2020 , we had $16 million of letters of credit outstanding under the 2018 Revolver. Interest on our 2018 Revolver is payable monthly and is variable based on LIBOR plus 1.625% or the prime rate plus 0.625% , at our option, subject to certain rate adjustments based upon our total leverage ratio. As of June 30, 2020 , the interest rate was based on LIBOR plus 1.625% . We are required to pay a quarterly commitment fee on the daily unused amount of the commitments under our 2018 Revolver, as well as fronting fees and other customary fees for letters of credit issued under our 2018 Revolver, which is subject to adjustments based on our total leverage ratio. Borrowings under our 2018 Revolver are secured by substantially all of our assets, other than excluded assets as defined in our 2018 Credit Agreement, which includes certain customary assets, assets held in trusts as collateral and WSE related assets. The outstanding balance on the 2018 Revolver is payable by June 2023. We are permitted to make voluntary prepayments at any time without payment of a premium. We are required to make mandatory prepayments of term loans (without payment of a premium) with (i) net cash proceeds from issuances of debt (other than certain permitted debt), and (ii) net cash proceeds from certain non-ordinary course asset sales and casualty and condemnation proceeds (subject to reinvestment rights and other exceptions). The 2018 Credit Agreement contains certain financial covenants and restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens, investments, mergers, dispositions, prepayment of indebtedness (other than our 2018 Term Loan and our 2018 Revolver), dividends, distributions and transactions with affiliates, as well as minimum interest coverage and maximum total leverage ratio requirements. We were in compliance with all financial covenants under the credit facilities at June 30, 2020 .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contingencies We are and, from time to time, have been and may in the future become involved in various litigation matters, legal proceedings, and claims arising in the ordinary course of our business, including disputes with our clients or various class action, collective action, representative action, and other proceedings arising from the nature of our co-employment relationship with our clients and WSEs in which we are named as a defendant. In addition, due to the nature of our co-employment relationship with our clients and WSEs, we could be subject to liability for federal and state law violations, even if we do not participate in such violations. While our agreements with our clients contain indemnification provisions related to the conduct of our clients, we may not be able to avail ourselves of such provisions in every instance. We have accrued our current best estimates of probable losses with respect to these matters, which are individually and in aggregate immaterial to our consolidated financial statements. While the outcome of the matters described above cannot be predicted with certainty, management currently does not believe that any such claims or proceedings will have a materially adverse effect on our consolidated financial position, results of operations, or cash flows. However, the unfavorable resolution of any particular matter or our reassessment of our exposure for any of the above matters based on additional information obtained in the future could have a material impact on our consolidated financial position, results of operations, or cash flows.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION Equity-Based Incentive Plans Our 2019 Equity Incentive Plan (the 2019 Plan), approved in May 2019, provides for the grant of stock-based and cash-based awards, including stock options, RSUs, and RSAs. Shares available for grant as of June 30, 2020 were approximately 2 million . The 2009 Equity Incentive Plan (the 2009 Plan), was replaced by the 2019 Plan, except that any outstanding awards granted under the 2009 Plan remain in effect pursuant to their terms. Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) Time-based RSUs and RSAs generally vest over a four-year term. Performance-based RSUs and RSAs are subject to vesting requirements and are earned, in part, based on certain financial performance metrics as defined in the grant notice. Actual number of shares earned may range from 0% to 200% of the target award. Performance-based awards granted in 2020 and 2018 are based on a single-year performance period subject to subsequent multi-year vesting with 50% of the shares earned vesting in one year after the performance period and the remaining shares in the year after. The performance-based awards granted in 2019 were previously cancelled. RSUs and RSAs are generally forfeited if the participant terminates service prior to vesting. The following tables summarize RSU and RSA activity under our equity-based plans for the first half of 2020 : Time-based RSUs and RSAs Total Number of RSUs Total Number of RSAs Total Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2019 1,104,729 61,136 1,165,865 $ 48.47 Granted 789,308 — 789,308 51.14 Vested (356,897 ) (15,028 ) (371,925 ) 42.87 Forfeited (63,725 ) (3,611 ) (67,336 ) 51.74 Nonvested at June 30, 2020 1,473,415 42,497 1,515,912 $ 51.09 Performance-based RSUs and RSAs Total Number of RSUs Total Number of RSAs Total Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2019 15,752 114,857 130,609 $ 49.70 Granted 183,981 — 183,981 52.86 Forfeited — (11,036 ) (11,036 ) 47.61 Nonvested at June 30, 2020 199,733 103,821 303,554 $ 51.69 Stock Based Compensation Stock based compensation expense is measured based on the fair value of the stock award on the grant date and recognized over the requisite service period for each separately vesting portion of the stock award. Stock based compensation expense and other disclosures for stock based awards made to our employees pursuant to the equity plans was as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Cost of providing services $ 3 $ 2 $ 5 $ 4 Sales and marketing 1 1 3 1 General and administrative 6 7 11 13 Systems development and programming costs 1 1 1 2 Total stock based compensation expense $ 11 $ 11 $ 20 $ 20

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock The following table presents a rollforward of our common stock for the three and six months ended June 30, 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Shares issued and outstanding, beginning balance 68,470,050 70,079,747 69,065,491 70,596,559 Issuance of common stock from vested restricted stock units 168,621 213,991 342,250 500,710 Issuance of common stock from exercise of stock options 11,136 58,491 40,609 139,773 Issuance of common stock for employee stock purchase plan 130,532 112,623 130,532 112,623 Repurchase of common stock (1,419,984 ) (392,700 ) (2,167,401 ) (1,175,609 ) Awards effectively repurchased for required employee withholding taxes (67,491 ) (81,007 ) (118,617 ) (182,911 ) Shares issued and outstanding, ending balance 67,292,864 69,991,145 67,292,864 69,991,145 Stock Repurchases In February 2020, our board of directors authorized a $300 million incremental increase to our ongoing stock repurchase program. This repurchase authorization has no expiration. We retire shares in the period they are acquired and account for the payment as a reduction to stockholders' equity. During the first half of 2020 , we repurchased 2,167,401 shares of common stock for approximately $100 million . As of June 30, 2020 , approximately $435 million remained available for further repurchases of our common stock under all authorizations from our board of directors under this program.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective income tax rate was 26% and 17% for the second quarter of 2020 and 2019 , respectively, and 26% and 21% for the first half of 2020 and 2019 , respectively. The increase when comparing the quarter and year to date rates for 2020 with the same periods in 2019 , was primarily due to a one-time benefit associated with prior year tax expense and a decrease in tax benefits recognized from excess tax benefits related to stock-based compensation. During the first half of 2020 , there was an increase of $1 million in our unrecognized tax benefits. The total amount of gross interest and penalties accrued was immaterial. It is reasonably possible the amount of the unrecognized benefit could increase or decrease within the next twelve months for which an estimate of the impact on net income cannot be made. We are subject to tax in U.S. federal and various state and local jurisdictions, as well as Canada. We are open to federal and significant state income tax examinations for tax years 2015 and subsequent years. We previously paid Notices of Proposed Assessments disallowing employment tax credits totaling $11 million , plus interest of $4 million in connection with the IRS examination of Gevity HR, Inc. and its subsidiaries, which was acquired by TriNet in June 2009. TriNet filed suit in June 2016 to recover the disallowed credits, and the issue is being resolved through the litigation process. TriNet and the U.S. filed cross motions for summary judgment in federal district court. On September 17, 2018, the district court granted our motion for summary judgment and denied the U.S.'s motion. On January 18, 2019, the district court entered judgment in favor of TriNet in the amount of $15 million , plus interest. The U.S. filed a notice of appeal of the federal district court's decision on March 18, 2019. The U.S. filed its opening brief in the court of appeals on June 10, 2019 and we filed our answering brief on July 24, 2019 to which the government filed its reply brief on September 6, 2019. Oral arguments occurred on March 11, 2020. We will continue to vigorously defend our position through the litigation process. Given the uncertainty of the outcome of any appeal, it remains possible that our recovery of the refund will be less than the total amount in dispute.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHAR E (EPS) The following table presents the computation of our basic and diluted EPS attributable to our common stock: Three Months Ended Six Months Ended (in millions, except per share data) 2020 2019 2020 2019 Net income $ 126 $ 46 $ 217 $ 109 Weighted average shares of common stock outstanding 67 70 69 70 Basic EPS $ 1.88 $ 0.65 $ 3.16 $ 1.56 Net income $ 126 $ 46 $ 217 $ 109 Weighted average shares of common stock outstanding 67 70 69 70 Dilutive effect of stock options and restricted stock units 1 1 1 1 Weighted average shares of common stock outstanding - diluted 68 71 70 71 Diluted EPS $ 1.87 $ 0.64 $ 3.13 $ 1.53 Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect 1 — 2 1

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSOn July 27, 2020, TriNet Group, Inc., announced the acquisition of Little Bird HR, Inc., a privately held PEO providing benefits and human resource solutions for charter schools.

Description of Business and S_2

Description of Business and Significant Accounting Policies - (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Segment Information	We operate in one reportable segment. All of our service revenues are generated from external clients. Less than 1% of our revenue is generated outside of the U.S.
Basis of Presentation	These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Rules and Regulations of the Securities and Exchange Commission. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, that are normal and recurring in nature, necessary for fair financial statement presentation. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the operating results anticipated for the full year. These Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in Part II, Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K for the year ended December 31, 2019 ( 2019 Form 10-K).
Use of Estimates	The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect certain reported amounts and related disclosures. These estimates are based on historical experience and on various other assumptions that we believe to be reasonable from the facts available to us. Some of the assumptions are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our consolidated financial statements could be materially affected.
Revenue Recognition	Performance Obligation: Recovery Credit In April 2020, we created our Recovery Credit program to assist in the economic recovery of our existing SMB clients and enhance our ability to retain these clients. Eligible clients will receive one-time reductions against fees for future services, accounted for as a discount, over the next two years . This option to renew future services at a discount represents a material right and is accounted for as a new performance obligation (Recovery Credit). This performance obligation will be satisfied when the clients have successfully renewed the services contracts and the future services are transferred. The consideration we receive that is allocated to this performance obligation is deferred as an unsatisfied performance obligation and is included in client deposits and other client liabilities on the balance sheet. The amount of consideration we defer each period is dependent on the timing of when eligible clients will receive the Recovery Credit and the ultimate amount of the total Recovery Credit. The ultimate amount that clients will receive is dependent on future net insurance performance. Client Deposits and Other Client Liabilities Client deposits and other client liabilities represents our contractual commitments and payables to clients, including indemnity guarantee payment received from clients, prefund by clients for their payroll and related taxes and other withholding liabilities before payroll is processed or due for payment, as well as service fee consideration received for unsatisfied performance obligations of $56 million . Unbilled Revenue
Investments	Our investments are primarily classified as available-for-sale and are carried at estimated fair value. Unrealized gains and losses are reported as a component of accumulated other comprehensive income, net of deferred income taxes. The amortized cost of debt investments is adjusted for amortization of premiums and accretion of discounts from the date of purchase to the earliest call date for premiums or the maturity date for discounts. Such amortization is included in interest income as an addition to or deduction from the coupon interest earned on the investments. We use the specific identification method to determine realized gains and losses on the sale of available-for-sale securities. Realized gains and losses are included in interest income in the accompanying consolidated statements of income and comprehensive income. We assess our investments for credit impairment. We review several factors to determine whether an unrealized loss is credit related, such as the financial condition and future prospects of the issuer. To the extent that a security’s amortized cost basis exceeds the present value of the cash flows expected to be collected from the security, an allowance for credit losses will be recognized. If management intends to sell or will more likely than not be required to sell the security before any anticipated recovery, a write down will be recognized in earnings measured as the entire difference between the amortized cost and the then-current fair value. We have investments within our unrestricted and our restricted accounts. Unrestricted investments are recorded on the balance sheet as current or noncurrent based upon the remaining time to maturity, and investments subject to restrictions are classified as current or noncurrent based on the expected payout of the related liability.
Accounts Receivable	Our accounts receivable represents outstanding gross billings to clients, net of an allowance for estimated credit losses. We require our clients to prefund payroll and related liabilities before payroll is processed or due for payment. If a client fails to fund payroll or misses the funding cut-off, at our sole discretion, we may pay the payroll and the resulting amounts due to us are recognized as accounts receivable. When client payment is received in advance of our performance under the contract, such amount is recorded as client deposits. We establish an allowance for credit losses based on the credit quality of clients, current economic conditions, the age of the accounts receivable balances, historical experience, and other factors that may affect clients’ ability to pay, and charge-off amounts against the allowance when they are deemed uncollectible.
Accrued Health Insurance Costs	We sponsor and administer a number of fully insured, risk-based employee benefit plans, including group health, dental, and vision as an employer plan sponsor under section 3(5) of the ERISA. In the six months ended June 30, 2020 , a majority of our group health insurance costs related to risk-based plans. Our remaining group health insurance costs were for guaranteed-cost policies. Accrued health insurance costs are established to provide for the estimated unpaid costs of reimbursing the carriers for paying claims within the deductible layer in accordance with risk-based health insurance policies. These accrued costs include estimates for reported losses, plus estimates for claims incurred but not paid. We assess accrued health insurance costs regularly based upon external actuarial studies that include other relevant factors such as current and historical claims payment patterns, plan enrollment and medical trend rates.
Recent Accounting Pronouncements	We adopted ASU 2016-13 - Financial Instruments - Credit Losses (ASC Topic 326) effective January 1, 2020 using a modified retrospective approach, under which we recognized the cumulative effects of initially applying the Standard as an adjustment to the opening balance of retained earnings on January 1, 2020 with unchanged comparative periods. We are required to use forward-looking information when evaluating an allowance for our accounts receivable, unbilled revenue and other financial assets measured at amortized cost. ASC Topic 326 also modified the impairment guidance for available-for-sale debt securities to require an allowance for credit losses. The adoption of ASC Topic 326 did not have a material effect on our financial statements.
Fair Value Measurement	We use an independent pricing source to determine the fair value of our securities. The independent pricing source utilizes various pricing models for each asset class; including the market approach. The inputs and assumptions for the pricing models are market observable inputs including trades of comparable securities, dealer quotes, credit spreads, yield curves and other market-related data. We have not adjusted the prices obtained from the independent pricing service and we believe the prices received from the independent pricing service are representative of the prices that would be received to sell the assets at the measurement date (exit price).

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments - (Tables)	6 Months Ended
	Jun. 30, 2020
Cash and Cash Equivalents [Abstract]
Summary of Cash, Cash Equivalents and Investments	Our total cash, cash equivalents and investments are summarized below: June 30, 2020 December 31, 2019 (in millions) Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents Available-for-sale marketable securities Certificate of deposits Total Cash and cash equivalents $ 637 $ — $ 637 $ 213 $ — $ — $ 213 Investments — 76 76 — 68 — 68 Restricted cash, cash equivalents and investments: Payroll funds collected 566 — 566 1,018 — — 1,018 Collateral for health benefits claims 18 86 104 98 — — 98 Collateral for workers' compensation claims 63 — 63 62 — — 62 Other security deposits 2 — 2 2 — — 2 Total restricted cash, cash equivalents and investments 649 86 735 1,180 — — 1,180 Investments, noncurrent — 128 128 — 125 — 125 Restricted cash, cash equivalents and investments, noncurrent Collateral for workers' compensation claims 41 163 204 63 148 1 212 Total $ 1,327 $ 453 $ 1,780 $ 1,456 $ 341 $ 1 $ 1,798

Investments - (Tables)

Investments - (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of our AFS investments as of June 30, 2020 and December 31, 2019 are presented below. June 30, 2020 December 31, 2019 (in millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Asset-backed securities $ 22 $ — $ — $ 22 $ 30 $ — $ — $ 30 Corporate bonds 111 3 — 114 123 1 — 124 U.S. government agencies and government- sponsored agencies 24 1 — 25 14 — — 14 U.S. treasuries 280 5 — 285 163 — — 163 Certificate of deposit — — — — 1 — — 1 Other debt securities 7 — — 7 10 — — 10 Total $ 444 $ 9 $ — $ 453 $ 341 $ 1 $ — $ 342 The gross proceeds from sales and maturities of AFS securities for the three and six months ended June 30, 2020 and June 30, 2019 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three and six months ended June 30, 2020 and 2019 . Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Gross proceeds from sales $ 12 $ 14 $ 52 $ 28 Gross proceeds from maturities 40 19 67 36 Total 52 33 $ 119 $ 64
Fair Value of Debt Investments by Contractual Maturity	The fair value of debt investments by contractual maturity are shown below: (in millions) June 30, 2020 One year or less $ 112 Over one year through five years 312 Over five years through ten years 9 Over ten years 20 Total fair value $ 453

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements - (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis	The following table summarizes our financial instruments by significant categories and fair value measurement on a recurring basis as of June 30, 2020 and December 31, 2019 . (in millions) Level 1 Level 2 Total June 30, 2020 Cash equivalents: Money market mutual funds $ 286 $ — 286 Total cash equivalents 286 — 286 Investments: Asset-backed securities — 22 22 Corporate bonds — 83 83 U.S. government agencies and government-sponsored agencies — 6 6 U.S. treasuries — 86 86 Other debt securities — 7 7 Total investments — 204 204 Restricted cash equivalents: Money market mutual funds 91 — 91 Commercial paper 14 — 14 Total restricted cash equivalents 105 — 105 Restricted investments: Corporate bonds — 31 31 U.S. government agencies and government-sponsored agencies — 19 19 U.S. treasuries — 199 199 Total restricted investments — 249 249 Total cash equivalents and investments and restricted cash equivalents and investments $ 391 $ 453 $ 844 (in millions) Level 1 Level 2 Total December 31, 2019 Cash equivalents Money market mutual funds $ 89 $ — $ 89 U.S. treasuries — 3 3 Total cash equivalents 89 3 92 Investments Asset-backed securities — 30 30 Corporate bonds — 96 96 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 53 53 Other debt securities — 10 10 Total investments — 194 194 Restricted cash equivalents: Money market mutual funds 42 — 42 U.S. treasuries — 12 12 Certificate of deposit — 2 2 Commercial paper 14 — 14 Total restricted cash equivalents 56 14 70 Restricted investments: Corporate bonds — 28 28 U.S. government agencies and government-sponsored agencies — 9 9 U.S. treasuries — 110 110 Certificate of deposit — 1 1 Total restricted investments — 148 148 Total investments and restricted cash equivalents and investments $ 145 $ 359 $ 504
Schedule of Cash Flow Hedging Instruments	The following table summarizes the fair value of our derivative instruments at June 30, 2020 : Fair Market Value June 30, 2020 December 31, 2019 (in millions) Hedge type Final settlement date Notional amount Other current assets Accounts payable and other current liabilities Other current assets Accounts payable and other current liabilities Derivatives designated as hedging instruments Collar - LIBOR Cash flow May 2022 $ 213 $ — $ 2 $ — $ —
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table summarizes the fair value of our derivative instruments at June 30, 2020 : Fair Market Value June 30, 2020 December 31, 2019 (in millions) Hedge type Final settlement date Notional amount Other current assets Accounts payable and other current liabilities Other current assets Accounts payable and other current liabilities Derivatives designated as hedging instruments Collar - LIBOR Cash flow May 2022 $ 213 $ — $ 2 $ — $ —

Accrued Workers' Compensation_2

Accrued Workers' Compensation Cost - (Tables)	6 Months Ended
	Jun. 30, 2020
Insurance [Abstract]
Summary of Activities in Liability for Unpaid Claims and Claims Adjustment Expenses	The following table summarizes the accrued workers’ compensation cost activity for the three and six months ended June 30, 2020 and 2019 : Three Months Ended Six Months Ended (in millions) 2020 2019 2020 2019 Total accrued costs, beginning of period $ 217 $ 236 $ 214 $ 238 Incurred Current year 13 16 33 35 Prior years (6 ) (11 ) (9 ) (16 ) Total incurred 7 5 24 19 Paid Current year (2 ) (2 ) (3 ) (3 ) Prior years (11 ) (15 ) (24 ) (30 ) Total paid (13 ) (17 ) (27 ) (33 ) Total accrued costs, end of period $ 211 $ 224 $ 211 $ 224 The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets: (in millions) June 30, 2020 December 31, 2019 Total accrued costs, end of period $ 211 $ 214 Collateral paid to carriers and offset against accrued costs (8 ) (9 ) Total accrued costs, net of carrier collateral offset $ 203 $ 205 Payable in less than 1 year $2 and $3 at June 30, 2020 and December 31, 2019, respectively.) $ 62 $ 61 Payable in more than 1 year $6 at June 30, 2020 and December 31, 2019.) 141 144 Total accrued costs, net of carrier collateral offset $ 203 $ 205

Revolving Credit Agreement Bo_2

Revolving Credit Agreement Borrowings - (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Revolving Credit Agreement Borrowings	As of June 30, 2020 , our revolving credit agreement borrowings consisted of the following: (in millions) June 30, 2020 Current Liabilities: Revolving credit facility $ 234 Annual contractual interest rate 1.81 % Effective interest rate 2.19 %

Stock Based Compensation - (Tab

Stock Based Compensation - (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of RSU and RSA Activity Under Equity-Based Plans	The following tables summarize RSU and RSA activity under our equity-based plans for the first half of 2020 : Time-based RSUs and RSAs Total Number of RSUs Total Number of RSAs Total Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2019 1,104,729 61,136 1,165,865 $ 48.47 Granted 789,308 — 789,308 51.14 Vested (356,897 ) (15,028 ) (371,925 ) 42.87 Forfeited (63,725 ) (3,611 ) (67,336 ) 51.74 Nonvested at June 30, 2020 1,473,415 42,497 1,515,912 $ 51.09 Performance-based RSUs and RSAs Total Number of RSUs Total Number of RSAs Total Number of Shares Weighted-Average Grant Date Fair Value Nonvested at December 31, 2019 15,752 114,857 130,609 $ 49.70 Granted 183,981 — 183,981 52.86 Forfeited — (11,036 ) (11,036 ) 47.61 Nonvested at June 30, 2020 199,733 103,821 303,554 $ 51.69
Stock-based Compensation Expense	Stock based compensation expense and other disclosures for stock based awards made to our employees pursuant to the equity plans was as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Cost of providing services $ 3 $ 2 $ 5 $ 4 Sales and marketing 1 1 3 1 General and administrative 6 7 11 13 Systems development and programming costs 1 1 1 2 Total stock based compensation expense $ 11 $ 11 $ 20 $ 20

Stockholders' Equity - (Tables)

Stockholders' Equity - (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Common Stock	The following table presents a rollforward of our common stock for the three and six months ended June 30, 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Shares issued and outstanding, beginning balance 68,470,050 70,079,747 69,065,491 70,596,559 Issuance of common stock from vested restricted stock units 168,621 213,991 342,250 500,710 Issuance of common stock from exercise of stock options 11,136 58,491 40,609 139,773 Issuance of common stock for employee stock purchase plan 130,532 112,623 130,532 112,623 Repurchase of common stock (1,419,984 ) (392,700 ) (2,167,401 ) (1,175,609 ) Awards effectively repurchased for required employee withholding taxes (67,491 ) (81,007 ) (118,617 ) (182,911 ) Shares issued and outstanding, ending balance 67,292,864 69,991,145 67,292,864 69,991,145

Earnings Per Share (EPS) - (Tab

Earnings Per Share (EPS) - (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted EPS	The following table presents the computation of our basic and diluted EPS attributable to our common stock: Three Months Ended Six Months Ended (in millions, except per share data) 2020 2019 2020 2019 Net income $ 126 $ 46 $ 217 $ 109 Weighted average shares of common stock outstanding 67 70 69 70 Basic EPS $ 1.88 $ 0.65 $ 3.16 $ 1.56 Net income $ 126 $ 46 $ 217 $ 109 Weighted average shares of common stock outstanding 67 70 69 70 Dilutive effect of stock options and restricted stock units 1 1 1 1 Weighted average shares of common stock outstanding - diluted 68 71 70 71 Diluted EPS $ 1.87 $ 0.64 $ 3.13 $ 1.53 Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect 1 — 2 1

Description of Business and S_3

Description of Business and Significant Accounting Policies - Narrative (Details) $ in Millions	Apr. 20, 2020	Jun. 30, 2020USD ($)segment	Dec. 31, 2019USD ($)
Product Information [Line Items]
Number of reportable segments | segment		1
Eligible period for one-time fee reduction program	2 years
Unsatisfied performance obligations		$ 56
Advance collections of unbilled revenues		49
Prepayments offsetting accrued health insurance costs		$ 48	$ 39
Non-US | Revenue | Foreign Sales
Product Information [Line Items]
Percent of concentration risk (less than)		1.00%
Health Care
Product Information [Line Items]
Prepayments offsetting accrued health insurance costs		$ 53	$ 52

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 637	$ 213
Investments	76	68
Restricted cash, cash equivalents and investments	735	1,180
Investments, noncurrent	128	125
Restricted cash, cash equivalents and investments, noncurrent	204	212
Total cash equivalents and investments and restricted cash equivalents and investments	1,780	1,798
Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	637	213
Investments	0	0
Restricted cash, cash equivalents and investments	649	1,180
Investments, noncurrent	0	0
Total cash equivalents and investments and restricted cash equivalents and investments	1,327	1,456
Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	0	0
Investments	76	68
Restricted cash, cash equivalents and investments	86	0
Investments, noncurrent	128	125
Total cash equivalents and investments and restricted cash equivalents and investments	453	341
Certificate of deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents		0
Investments		0
Restricted cash, cash equivalents and investments		0
Investments, noncurrent		0
Total cash equivalents and investments and restricted cash equivalents and investments		1
Payroll funds collected
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	566	1,018
Payroll funds collected | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	566	1,018
Payroll funds collected | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	0	0
Payroll funds collected | Certificate of deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments		0
Collateral for health benefits claims
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	104	98
Collateral for health benefits claims | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	18	98
Collateral for health benefits claims | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	86	0
Collateral for health benefits claims | Certificate of deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments		0
Collateral for workers' compensation claims
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	63	62
Restricted cash, cash equivalents and investments, noncurrent	204	212
Collateral for workers' compensation claims | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	63	62
Restricted cash, cash equivalents and investments, noncurrent	41	63
Collateral for workers' compensation claims | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	0	0
Restricted cash, cash equivalents and investments, noncurrent	163	148
Collateral for workers' compensation claims | Certificate of deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments		0
Restricted cash, cash equivalents and investments, noncurrent		1
Other security deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	2	2
Other security deposits | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	2	2
Other security deposits | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments	$ 0	0
Other security deposits | Certificate of deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash, cash equivalents and investments		$ 0

Investments - Amortized Cost, G

Investments - Amortized Cost, Gross Unrealized Gains and Losses, Fair Values of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities
Amortized Cost	$ 444	$ 341
Gross Unrealized Gains	9	1
Gross Unrealized Losses	0	0
Fair Value	453	342
Asset-backed securities
Debt Securities
Amortized Cost	22	30
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	22	30
Corporate bonds
Debt Securities
Amortized Cost	111	123
Gross Unrealized Gains	3	1
Gross Unrealized Losses	0	0
Fair Value	114	124
U.S. government agencies and government- sponsored agencies
Debt Securities
Amortized Cost	24	14
Gross Unrealized Gains	1	0
Gross Unrealized Losses	0	0
Fair Value	25	14
U.S. treasuries
Debt Securities
Amortized Cost	280	163
Gross Unrealized Gains	5	0
Gross Unrealized Losses	0	0
Fair Value	285	163
Certificate of deposits
Debt Securities
Amortized Cost	0	1
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	0	1
Other debt securities
Debt Securities
Amortized Cost	7	10
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 7	$ 10

Investments - Fair Value of Deb

Investments - Fair Value of Debt Investments by Contractual Maturity (Details) $ in Millions	Jun. 30, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
One year or less	$ 112
Over one year through five years	312
Over five years through ten years	9
Over ten years	20
Total fair value	$ 453

Investments - Proceeds from ava

Investments - Proceeds from available-for-sale securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Gross proceeds from sales	$ 12	$ 14	$ 52	$ 28
Gross proceeds from maturities	40	19	67	36
Total	$ 52	$ 33	$ 119	$ 64

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Financial Instruments [Line Items]
Investments	$ 453	$ 342
Total cash equivalents and investments and restricted cash equivalents and investments	1,780	1,798
Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Cash equivalents	286	92
Investments	204	194
Restricted cash equivalents	105	70
Restricted investments	249	148
Total cash equivalents and investments and restricted cash equivalents and investments	844	504
Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Cash equivalents	286	89
Investments	0	0
Restricted cash equivalents	105	56
Restricted investments	0	0
Total cash equivalents and investments and restricted cash equivalents and investments	391	145
Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Cash equivalents	0	3
Investments	204	194
Restricted cash equivalents	0	14
Restricted investments	249	148
Total cash equivalents and investments and restricted cash equivalents and investments	453	359
Money market mutual funds | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Cash equivalents	286	89
Restricted cash equivalents	91	42
Money market mutual funds | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Cash equivalents	286	89
Restricted cash equivalents	91	42
Money market mutual funds | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Cash equivalents	0	0
Restricted cash equivalents	0	0
U.S. treasuries | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Cash equivalents		3
Restricted cash equivalents		12
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Cash equivalents		0
Restricted cash equivalents		0
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Cash equivalents		3
Restricted cash equivalents		12
Certificate of deposit | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents		2
Certificate of deposit | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents		0
Certificate of deposit | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents		2
Commercial paper | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents	14	14
Commercial paper | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents	14	14
Commercial paper | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Restricted cash equivalents	0	0
U.S. treasuries
Fair Value, Financial Instruments [Line Items]
Investments	285	163
U.S. treasuries | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Investments	86	53
Restricted investments	199	110
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Investments	0	0
Restricted investments	0	0
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Investments	86	53
Restricted investments	199	110
Asset-backed securities
Fair Value, Financial Instruments [Line Items]
Investments	22	30
Asset-backed securities | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Investments	22	30
Asset-backed securities | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Investments	0	0
Asset-backed securities | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Investments	22	30
Corporate bonds
Fair Value, Financial Instruments [Line Items]
Investments	114	124
Corporate bonds | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Investments	83	96
Restricted investments	31	28
Corporate bonds | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Investments	0	0
Restricted investments	0	0
Corporate bonds | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Investments	83	96
Restricted investments	31	28
U.S. government agencies and government- sponsored agencies
Fair Value, Financial Instruments [Line Items]
Investments	25	14
U.S. government agencies and government- sponsored agencies | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Investments	6	5
Restricted investments	19	9
U.S. government agencies and government- sponsored agencies | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Investments	0	0
Restricted investments	0	0
U.S. government agencies and government- sponsored agencies | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Investments	6	5
Restricted investments	19	9
Other debt securities
Fair Value, Financial Instruments [Line Items]
Investments	7	10
Other debt securities | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Investments	7	10
Other debt securities | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Investments	0	0
Other debt securities | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Investments	7	10
Certificate of deposit
Fair Value, Financial Instruments [Line Items]
Investments	$ 0	1
Certificate of deposit | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Restricted investments		1
Certificate of deposit | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Restricted investments		0
Certificate of deposit | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Restricted investments		$ 1

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Narrative (Details) $ in Millions	Jun. 30, 2020USD ($)
Fair Value Disclosures [Abstract]
Net derivative gains or losses included in other comprehensive income will be reclassified into earnings within the following 12 months	$ 1

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Notional amount	$ 213
Other current assets
Debt Securities, Available-for-sale [Line Items]
Fair Market Value	0	$ 0
Accounts payable and other current liabilities
Debt Securities, Available-for-sale [Line Items]
Fair Market Value	$ 2	$ 0

Accrued Workers' Compensation_3

Accrued Workers' Compensation Cost - Summary of Workers' Compensation Loss Reserve Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Total accrued costs, beginning of period	$ 217	$ 236	$ 214	$ 238
Incurred
Current year	13	16	33	35
Prior years	(6)	(11)	(9)	(16)
Total incurred	7	5	24	19
Paid
Current year	(2)	(2)	(3)	(3)
Prior years	(11)	(15)	(24)	(30)
Total paid	(13)	(17)	(27)	(33)
Total accrued costs, end of period	$ 211	$ 224	$ 211	$ 224

Accrued Workers' Compensation_4

Accrued Workers' Compensation Cost - Summary of Workers' Compensation Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Insurance [Abstract]
Total accrued costs, end of period	$ 211	$ 217	$ 214	$ 224	$ 236	$ 238
Collateral paid to carriers and offset against accrued costs	(8)		(9)
Total accrued costs, net of carrier collateral offset	203		205
Payable in less than 1 year (net of collateral paid to carriers of $2 and $3 at June 30, 2020 and December 31, 2019, respectively.)	62		61
Payable in more than 1 year (net of collateral paid to carriers of $6 at June 30, 2020 and December 31, 2019 respectively.)	141		144
Net of collateral paid to carriers, payable in less than one year	2		3
Net of collateral paid to carriers, payable in more than 1 year	$ 6		$ 6

Accrued Workers' Compensation_5

Accrued Workers' Compensation Cost - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Insurance [Abstract]
Collateral held by insurance carriers	$ 45	$ 46
Liability for unpaid claims and claims adjustment expense, collateral	$ 8	$ 9

Revolving Credit Agreement Bo_3

Revolving Credit Agreement Borrowings - Schedule of Revolving Credit Agreement Borrowings (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Revolving credit facility	$ 234	$ 0
2018 Revolver | Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility	$ 234
Annual contractual interest rate	1.81%
Effective interest rate	2.19%

Revolving Credit Agreement Bo_4

Revolving Credit Agreement Borrowings - Narrative (Details) - USD ($)	1 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Line of Credit Facility [Line Items]
Proceeds from revolving credit agreement borrowings		$ 234,000,000	$ 0
2018 Revolver | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		250,000,000
Proceeds from revolving credit agreement borrowings	$ 234,000,000
Letters of credit outstanding		$ 16,000,000
2018 Revolver | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.625%
2018 Revolver | Prime Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.625%

Stock Based Compensation - Narr

Stock Based Compensation - Narrative (Details) shares in Millions	6 Months Ended
	Jun. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	2
Time-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Time-based RSUs and RSAs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of share value	0.00%
Time-based RSUs and RSAs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of share value	200.00%
Performance-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period for 2020 and 2018 awards	1 year
Share-based Payment Arrangement, Tranche One | Performance-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of shares that are expected to vest (as a percent )	50.00%
Vesting period	1 year

Stock Based Compensation - Summ

Stock Based Compensation - Summary Of RSU And RSA Activity (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Time-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	1,165,865
Granted (in shares)	789,308
Vested (in shares)	(371,925)
Forfeited (in shares)	(67,336)
Balance (in shares)	1,515,912
Weighted-Average Grant Date Fair Value
Balance (in dollars per share) | $ / shares	$ 48.47
Granted (in dollars per share) | $ / shares	51.14
Vested (in dollars per share) | $ / shares	42.87
Forfeited (in dollars per share) | $ / shares	51.74
Balance (in dollars per share) | $ / shares	$ 51.09
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	1,104,729
Granted (in shares)	789,308
Vested (in shares)	(356,897)
Forfeited (in shares)	(63,725)
Balance (in shares)	1,473,415
Time-Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	61,136
Granted (in shares)	0
Vested (in shares)	(15,028)
Forfeited (in shares)	(3,611)
Balance (in shares)	42,497
Performance-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	130,609
Granted (in shares)	183,981
Forfeited (in shares)	(11,036)
Balance (in shares)	303,554
Weighted-Average Grant Date Fair Value
Balance (in dollars per share) | $ / shares	$ 49.70
Granted (in dollars per share) | $ / shares	52.86
Forfeited (in dollars per share) | $ / shares	47.61
Balance (in dollars per share) | $ / shares	$ 51.69
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	15,752
Granted (in shares)	183,981
Forfeited (in shares)	0
Balance (in shares)	199,733
Performance-Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance (in shares)	114,857
Granted (in shares)	0
Forfeited (in shares)	(11,036)
Balance (in shares)	103,821

Stock Based Compensation - Stoc

Stock Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 11	$ 11	$ 20	$ 20
Cost of providing services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	3	2	5	4
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	1	1	3	1
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	6	7	11	13
Systems development and programming costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 1	$ 1	$ 1	$ 2

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued beginning balance (In shares)	68,470,050	70,079,747	69,065,491	70,596,559
Repurchase of common stock (in shares)	(1,419,984)	(392,700)	(2,167,401)	(1,175,609)
Awards effectively repurchased for required employee withholding taxes (in shares)	(67,491)	(81,007)	(118,617)	(182,911)
Shares issued ending balance (In shares)	67,292,864	69,991,145	67,292,864	69,991,145
Issuance of common stock from vested restricted stock units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from vested restricted stock units (in shares)	168,621	213,991	342,250	500,710
Issuance of common stock from exercise of stock options
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock from exercise of stock options (in shares)	11,136	58,491	40,609	139,773
Issuance of common stock for employee stock purchase plan
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for employee stock purchase plan (in shares)	130,532	112,623	130,532	112,623

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Feb. 29, 2020
Equity [Abstract]
Incremental increase to share repurchase program authorized amount					$ 300,000,000
Repurchase of common stock (in shares)	1,419,984	392,700	2,167,401	1,175,609
Repurchase of common stock			$ 100,000,000
Amount available for further repurchases under stock repurchase program	$ 435,000,000		$ 435,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	Jan. 18, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Contingency [Line Items]
Effective income tax rate		26.00%	17.00%	26.00%	21.00%
Increase in unrecognized tax benefits				$ 1
Amount awarded	$ 15
Internal Revenue Service
Income Tax Contingency [Line Items]
Income taxes paid				11
Interest payment		$ 4		$ 4

Earnings Per Share (EPS) - Comp

Earnings Per Share (EPS) - Computation of Basic and Diluted EPS Attributable to Common Stock (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Basic EPS
Net income	$ 126	$ 46	$ 217	$ 109
Weighted average shares of common stock outstanding (in shares)	67	70	69	70
Basic earnings per share (in dollars per share)	$ 1.88	$ 0.65	$ 3.16	$ 1.56
Diluted EPS
Net income	$ 126	$ 46	$ 217	$ 109
Weighted average shares of common stock outstanding (in shares)	67	70	69	70
Dilutive effect of stock options and restricted stock units (in shares)	1	1	1	1
Weighted average shares of common stock outstanding - diluted (in shares)	68	71	70	71
Diluted earnings per share (in dollars per share)	$ 1.87	$ 0.64	$ 3.13	$ 1.53
Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect ( in shares )	1	0	2	1