TriNet (TNET) 10-Q 26 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 19, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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,
Entity Address, Address Line Two	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)		65,881,650
Entity Central Index Key	0000937098
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenues	$ 1,060	$ 1,048
Costs and operating expenses:
Insurance costs	751	765
Cost of providing services	64	64
Sales and marketing	46	46
General and administrative	36	33
Systems development and programming	13	9
Depreciation and amortization of intangible assets	12	11
Total costs and operating expenses	922	928
Operating income	138	120
Other income (expense):
Interest expense, bank fees and other	(5)	(4)
Interest income	2	5
Income before provision for income taxes	135	121
Income taxes	34	30
Net income	101	91
Other comprehensive (loss) income, net of income taxes	(1)	2
Comprehensive income	$ 100	$ 93
Net income per share:
Basic (in dollars per share)	$ 1.53	$ 1.32
Diluted (in dollars per share)	$ 1.51	$ 1.31
Weighted average shares:
Basic (in shares)	66	68
Diluted (in shares)	67	69
Professional service revenues
Total revenues	$ 153	$ 156
Insurance service revenues
Total revenues	$ 907	$ 892

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 500	$ 301
Investments	71	57
Restricted cash, cash equivalents and investments	1,081	1,388
Accounts receivable, net	5	18
Unbilled revenue, net	340	246
Prepaid expenses, net	58	63
Other current assets	105	87
Total current assets	2,160	2,160
Restricted cash, cash equivalents and investments, noncurrent	184	210
Investments, noncurrent	130	138
Property, equipment and software, net	75	79
Operating lease right-of-use asset	51	51
Goodwill	294	294
Other intangible assets, net	17	18
Other assets	94	93
Total assets	3,005	3,043
Current liabilities:
Accounts payable and other current liabilities	84	50
Long-term debt	0	22
Client deposits and other client liabilities	151	134
Accrued wages	488	309
Accrued health insurance costs, net	165	172
Accrued workers' compensation costs, net	59	59
Payroll tax liabilities and other payroll withholdings	668	1,095
Operating lease liabilities	12	11
Insurance premiums and other payables	13	18
Total current liabilities	1,640	1,870
Long-term debt, noncurrent	494	348
Accrued workers' compensation costs, noncurrent, net	138	138
Deferred taxes	21	22
Operating lease liabilities, noncurrent	49	49
Other non-current liabilities	10	9
Total liabilities	2,352	2,436
Commitments and contingencies (see Note 7)
Stockholders' equity:
Preferred stock	0	0
Common stock and additional paid-in capital	758	747
Accumulated deficit	(108)	(144)
Accumulated other comprehensive income	3	4
Total stockholders' equity	653	607
Total liabilities & stockholders' equity	$ 3,005	$ 3,043

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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)	65,881,233	66,456,663
Common stock, shares outstanding (in shares)	65,881,233	66,456,663

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 Income
Beginning balance at Dec. 31, 2019	$ 475	$ 694	$ (219)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense		9
Net income	91		91
Repurchase of common stock			(40)
Awards effectively repurchased for required employee withholding taxes			(4)
Other comprehensive (loss) income	2			2
Ending balance at Mar. 31, 2020	533	703	(172)	2
Beginning balance at Dec. 31, 2020	607	747	(144)	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense		11
Net income	101		101
Repurchase of common stock	(60)		(60)
Awards effectively repurchased for required employee withholding taxes			(5)
Other comprehensive (loss) income	(1)			(1)
Ending balance at Mar. 31, 2021	$ 653	$ 758	$ (108)	$ 3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net income	$ 101	$ 91
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19	15
Amortization of ROU	3	4
Accretion of discount rate on lease liabilities	1	0
Amortization of premium of investments	1	0
Stock based compensation	11	9
Changes in operating assets and liabilities:
Accounts receivable, net	13	0
Unbilled revenue, net	(94)	(95)
Prepaid expenses, net	5	(3)
Accounts payable and other current liabilities	33	29
Client deposits and other client liabilities	17	(6)
Accrued wages	179	38
Accrued health insurance costs, net	(7)	(2)
Accrued workers' compensation costs, net	0	3
Payroll taxes payable and other payroll withholdings	(426)	(334)
Operating lease liabilities	(3)	(5)
Other assets	(24)	(28)
Other liabilities	(4)	2
Net cash used in operating activities	(175)	(282)
Investing activities
Purchases of marketable securities	(82)	(155)
Proceeds from sale and maturity of marketable securities	84	67
Acquisitions of property and equipment	(5)	(6)
Net cash used in investing activities	(3)	(94)
Financing activities
Repurchase of common stock	(60)	(40)
Awards effectively repurchased for required employee withholding taxes	(5)	(3)
Proceeds from revolving credit agreement borrowings	0	234
Payment of long-term financing fees	(2)	0
Payment of debt issuance costs	(7)	0
Proceeds from issuance of 2029 Notes	500	0
Repayment of debt	(370)	(6)
Net cash provided by financing activities	56	185
Net decrease in cash and cash equivalents, unrestricted and restricted	(122)	(191)
Cash and cash equivalents, unrestricted and restricted:
Beginning of period	1,643	1,456
End of period	1,521	1,265
Supplemental disclosures of cash flow information
Interest paid	2	3
Income taxes paid, net	2	1
Supplemental schedule of noncash investing and financing activities
Payable for purchase of property and equipment	$ 3	$ 1

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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 and medium-size 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, • certain 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 months ended March 31, 2021 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, 2020 (2020 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 Obligations 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. Under this one-time program eligible clients will receive reductions against fees for future services, accounted for as a discount, over the following 12 months. This option to renew future services at a discount represents a material right and is accounted for as a 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, which is subject to a limit on the total amount of $145 million. The change in the balance of the Recovery Credit unsatisfied performance obligation was as follows: Three Months Ended March 31, (in millions) 2021 Balance at beginning of period $ 92 (+) Accruals 12 (-) Distributions to clients (27) Balance at end of period $ 77 Variable Consideration and Pricing Allocation Our contracts with clients generally do not include any variable consideration. However, from time to time, we may offer credits to our clients considered to be variable consideration. Incentive credits related to contract renewals are recorded as a reduction to revenue as part of the transaction price at contract inception and are allocated among the performance obligations based on their relative standalone selling prices. Credits based on the performance of our insurance costs are recorded as a reduction to insurance services revenues and included in client deposits and other client liabilities on the balance sheet. In the three months ended March 31, 2021, we accrued $25 million under our 2021 Credit Program, payable within 12 months to eligible clients as of March 31, 2021, related to the expected performance of our health insurance costs for the year. Accrued Health Insurance Costs We sponsor and administer a number of employee benefit plans, including group health, dental, and vision as an employer plan sponsor under section 3(5) of the ERISA. In the three months ended March 31, 2021, 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 March 31, 2021 and December 31, 2020, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $52 million and $49 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of March 31, 2021 and December 31, 2020, accrued health insurance costs offsetting prepaid expenses were $70 million and $58 million, respectively.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments - Unrestricted and Restricted	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED	CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED 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: March 31, 2021 December 31, 2020 (in millions) Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents $ 500 $ — $ 500 $ 301 $ — $ 301 Investments — 71 71 — 57 57 Restricted cash, cash equivalents and investments: Payroll funds collected 906 — 906 1,228 — 1,228 Collateral for health benefits claims 22 90 112 16 82 98 Collateral for workers' compensation claims 61 — 61 60 — 60 Other security deposits 2 — 2 2 — 2 Total restricted cash, cash equivalents and investments 991 90 1,081 1,306 82 1,388 Investments, noncurrent — 130 130 — 138 138 Restricted cash, cash equivalents and investments, noncurrent Collateral for workers' compensation claims 30 154 184 36 174 210 Total $ 1,521 $ 445 $ 1,966 $ 1,643 $ 451 $ 2,094

Investments

Investments	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 are presented below: March 31, 2021 December 31, 2020 (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 $ 25 $ — $ — $ 25 $ 24 $ — $ — $ 24 Corporate bonds 121 2 — 123 126 2 — 128 U.S. government agencies and government- sponsored agencies 23 — — 23 27 1 — 28 U.S. treasuries 256 3 — 259 261 4 — 265 Certificate of deposit 9 — — 9 — — — — Other debt securities 6 — — 6 6 — — 6 Total $ 440 $ 5 $ — $ 445 $ 444 $ 7 $ — $ 451 Gross unrealized losses were immaterial at March 31, 2021 and December 31, 2020. 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) March 31, 2021 One year or less $ 135 Over one year through five years 281 Over five years through ten years 5 Over ten years 24 Total fair value $ 445 The gross proceeds from sales and maturities of AFS securities for the three months ended March 31, 2021 and March 31, 2020 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, (in millions) 2021 2020 Gross proceeds from sales $ 41 $ 40 Gross proceeds from maturities 43 27 Total $ 84 $ 67

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [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 March 31, 2021 and December 31, 2020. There were no transfers between levels as of March 31, 2021 and December 31, 2020. Fair Value Measurements on a Recurring Basis The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of March 31, 2021 and December 31, 2020. (in millions) Level 1 Level 2 Total March 31, 2021 Cash equivalents: Money market mutual funds $ 127 $ — 127 Total cash equivalents 127 — 127 Investments: Asset-backed securities — 25 25 Corporate bonds — 89 89 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 77 77 Other debt securities — 6 6 Total investments — 202 202 Restricted cash equivalents: Money market mutual funds 95 — 95 Certificate of deposit — 1 1 Commercial paper — — — Total restricted cash equivalents 95 1 96 Restricted investments: Corporate bonds — 34 34 U.S. government agencies and government-sponsored agencies — 18 18 U.S. treasuries — 182 182 Certificate of deposit — 9 9 Total restricted investments — 243 243 Total cash equivalents and investments and restricted cash equivalents and investments $ 222 $ 446 $ 668 (in millions) Level 1 Level 2 Total December 31, 2020 Cash equivalents Money market mutual funds $ 2 $ — $ 2 U.S. treasuries — 11 11 Total cash equivalents 2 11 13 Investments Asset-backed securities — 24 24 Corporate bonds — 93 93 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 67 67 Other debt securities — 6 6 Total investments — 195 195 Restricted cash equivalents: Money market mutual funds 99 — 99 Total restricted cash equivalents 99 — 99 Restricted investments: Corporate bonds — 35 35 U.S. government agencies and government-sponsored agencies — 23 23 U.S. treasuries — 198 198 Total restricted investments — 256 256 Total investments and restricted cash equivalents and investments $ 101 $ 462 $ 563 Fair Value of Financial Instruments Disclosure Long-Term Debt As of December 31, 2020, our long-term debt was floating rate debt and the fair value approximated its carrying value (exclusive of issuance costs). The fair value of our floating rate debt was estimated based on a discounted cash flow, which incorporated credit spreads and market interest rates to estimate the fair value and was considered Level 3 in the hierarchy for fair value measurement. The fair value of our 2029 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the senior notes is considered Level 2 in the hierarchy for fair value measurement. As of March 31, 2021, our 2029 Notes were carried at their cost, net of issuance costs, and had a fair value of $491 million. Derivative Instruments As of December 31, 2020, the fair value of the interest rate collar derivative, included in accounts payable and other current liabilities, was $1 million and was classified as Level 2 in the fair value hierarchy. In conjunction with the repayment and termination of our 2018 Term Loan, the interest rate collar derivative was terminated and settled and a realized loss of $1 million was recognized in net income for the three months ended March 31, 2021.

Accrued Workers' Compensation C

Accrued Workers' Compensation Costs	3 Months Ended
	Mar. 31, 2021
Insurance [Abstract]
ACCRUED WORKERS' COMPENSATION COSTS	ACCRUED WORKERS' COMPENSATION COSTS The following table summarizes the accrued workers’ compensation cost activity for the three months ended March 31, 2021 and 2020: Three Months Ended (in millions) 2021 2020 Total accrued costs, beginning of period $ 205 $ 214 Incurred Current year 16 20 Prior years (4) (3) Total incurred 12 17 Paid Current year (1) (1) Prior years (11) (13) Total paid (12) (14) Total accrued costs, end of period $ 205 $ 217 The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets: (in millions) March 31, 2021 December 31, 2020 Total accrued costs, end of period $ 205 $ 205 Collateral paid to carriers and offset against accrued costs (8) (8) Total accrued costs, net of carrier collateral offset $ 197 $ 197 Payable in less than 1 year $2 and $3 at March 31, 2021 and December 31, 2020, respectively) $ 59 $ 59 Payable in more than 1 year $6 and $5 at March 31, 2021 and December 31, 2020, respectively) 138 138 Total accrued costs, net of carrier collateral offset $ 197 $ 197 Incurred claims related to prior years represent changes in estimates for ultimate losses on workers' compensation claims. As of March 31, 2021 and December 31, 2020, we had $44 million and $45 million, respectively, of collateral held by insurance carriers of which $8 million for both periods was offset against accrued workers' compensation costs as

Long-Term Debt and Revolving Cr

Long-Term Debt and Revolving Credit Agreements	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENTS	LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENTS As of March 31, 2021 and December 31, 2020, our long-term debt consisted of the following: (in millions) March 31, 2021 December 31, 2020 2018 Term Loan A $ — $ 370 2029 Notes 500 — Principal amount 500 370 Deferred issuance costs (6) — Less: current portion — (22) Long-term debt, noncurrent $ 494 $ 348 Annual contractual interest rate 3.50 % 1.77 % Effective interest rate 3.67 % 1.87 % In June 2018 we entered into a $425 million term loan A (our 2018 Term Loan) under our 2018 credit agreement (our 2018 Credit Agreement). The 2018 Credit Agreement included a $250 million revolving credit facility (our 2018 Revolver). The 2018 Credit Agreement was terminated in February 2021. In February 2021, we issued $500 million aggregate principal of 3.50% senior unsecured notes maturing in March 2029 (our 2029 Notes). The 2029 Notes are a senior unsecured obligation of TriNet Group, Inc. and rank equally with all of its existing and future senior unsecured indebtedness. Interest payments on the 2029 Notes are due semi-annually in arrears on March 1 and September 1, beginning on September 1, 2021. The net proceeds were used to repay and terminate our 2018 Term Loan and for general corporate purposes. We may voluntarily redeem the 2029 Notes, in whole or in part, 1) at any time prior to March 1, 2024 at (a) 100% of their principal amount, plus a “make whole” premium or (b) with the net cash proceeds received from an equity offering at a redemption price equal to 103.50% of the principal amount, provided the aggregate principal amount of all such redemptions does not exceed 40% of the original aggregate principal amount of the 2029 Notes; 2) at any time on or after March 1, 2024 at a prepayment price equal to 101.75% of the principal amount; 3) at any time on or after March 1, 2025 at a prepayment price equal to 100.875%of the principal amount; and 4) at any time on or after March 1, 2026 at a prepayment price equal to 100% of the principal amount; in each case, plus accrued and unpaid interest, if any, to but excluding, the date of redemption. In February 2021, concurrently with the closing of the 2029 Notes offering, we entered into a new $500 million revolving facility (our 2021 Revolver) under a new credit agreement (our 2021 Credit Agreement) and the 2018 Credit Agreement was terminated. Letters of credit issued pursuant to the revolving facility reduce the amount available for borrowing under the 2021 Revolver. As of March 31, 2021, we had remaining capacity of $491 million under our 2021 Revolver. The annual interest rate for borrowings under our 2021 Revolver is calculated based on an applicable London Interbank Offered Rate (LIBOR) tenor of our choosing, plus a margin of 1.25% to 2.00%, or, at our option, the alternative base rate (ABR), plus a margin of 0.25% to 1.00%. The applicable LIBOR or ABR margin is based on our Total Leverage Ratio, as defined in the 2021 Credit Agreement. The ABR is the highest of (a) the applicable Federal Reserve Bank of New York rate, as defined in our 2021 Credit Agreement plus 0.50% (b) the prime rate, and (c) one month LIBOR adjusted daily plus 1.00%. In the event TriNet Group, Inc. receives a Corporate Issuer Credit Rating that is one level below investment grade rating or higher from at least two Nationally Recognized Statistical Rating Organizations, then rating based pricing applies and, for so long as rating based pricing applies, irrespective of the Total Leverage Ratio, the LIBOR margin will be 1.125% and the ABR margin will be 0.125%. The indenture governing our 2029 Notes includes restrictive covenants limiting our ability to: (i) create liens on certain assets to secure debt; (ii) grant a subsidiary guarantee of certain debt without also providing a guarantee of the 2029 Notes; and (iii) consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of our assets to, another person, subject, in each case, to certain customary exceptions.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contingencies On September 29, 2020, a class action was filed in the United States District Court for the Middle District of Florida against the directors of certain TriNet subsidiaries and other TriNet employees on behalf of participants in two retirement plans available to TriNet’s eligible worksite employees, the TriNet 401(k) Plan and the TriNet Select 401(k) Plan. The complaint is similar to claims recently brought against a number of employers including PEOs and generally alleges that the defendants violated certain fiduciary obligations to Plan participants under the Employee Retirement Income Security Act of 1974 with respect to overseeing plan investment and recordkeeping fees. These claims are in the early stages, and we are unable to reasonably estimate any possible loss, or range of loss, with respect to this matter. We believe the claims are without merit. 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	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION 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 2021 and 2020 are earned based on a single-year performance period subject to subsequent multi-year time-based vesting with 50% of the shares earned vesting in one year after the performance period and the remaining shares in the year after. RSUs and RSAs are generally forfeited if the participant terminates service prior to vesting. The following tables summarize RSU and RSA activity for the three months ended March 31, 2021: 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, 2020 1,230,071 30,026 1,260,097 $ 54.04 Granted 456,421 — 456,421 83.11 Vested (212,948) (7,055) (220,003) 45.14 Forfeited (47,908) — (47,908) 56.14 Nonvested at March 31, 2021 1,425,636 22,971 1,448,607 $ 64.48 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, 2020 167,127 16,052 183,179 $ 52.89 Granted 232,815 — 232,815 68.27 Vested (3,010) (16,052) (19,062) 47.61 Forfeited (9,459) — (9,459) 52.86 Nonvested at March 31, 2021 387,473 — 387,473 $ 62.39 Stock Based Compensation Stock based compensation expense for stock based awards made to our employees pursuant to our equity plans were as follows: Three Months Ended March 31, (in millions) 2021 2020 Cost of providing services $ 3 $ 2 Sales and marketing 1 2 General and administrative 6 5 Systems development and programming costs 1 — Total stock based compensation expense $ 11 $ 9

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock The following table shows the beginning and ending balances of our issued and outstanding common stock for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Shares issued and outstanding, beginning balance 66,456,663 69,065,491 Issuance of common stock from vested restricted stock units 215,958 173,629 Issuance of common stock from exercise of stock options 20,841 29,473 Repurchase of common stock (744,001) (747,417) Awards effectively repurchased for required employee withholding taxes (68,228) (51,126) Shares issued and outstanding, ending balance 65,881,233 68,470,050 Stock Repurchases During the three months ended March 31, 2021, we repurchased 744,001 shares of common stock for approximately $60 million. We retire shares in the period they are acquired and account for the payment as a reduction to stockholders' equity. As of March 31, 2021, approximately $298 million remained available for further repurchases of our common stock under all authorizations from our board of directors under this program. This repurchase authorization has no expiration.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our ETR was 25% for the three months ended March 31, 2021 and 2020. During the three months ended March 31, 2021, there was a de minimis change 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 2016 and subsequent years.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (EPS) The following table presents the computation of our basic and diluted EPS attributable to our common stock: Three Months Ended (in millions, except per share data) 2021 2020 Net income $ 101 $ 91 Weighted average shares of common stock outstanding 66 68 Basic EPS $ 1.53 $ 1.32 Net income $ 101 $ 91 Weighted average shares of common stock outstanding 66 68 Dilutive effect of stock options and restricted stock units 1 1 Weighted average shares of common stock outstanding 67 69 Diluted EPS $ 1.51 $ 1.31 Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect 1 1

Description of Business and S_2

Description of Business and Significant Accounting Policies - (Policies)	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 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, 2020 (2020 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	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. Under this one-time program eligible clients will receive reductions against fees for future services, accounted for as a discount, over the following 12 months. This option to renew future services at a discount represents a material right and is accounted for as a 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.Variable Consideration and Pricing AllocationOur contracts with clients generally do not include any variable consideration. However, from time to time, we may offer credits to our clients considered to be variable consideration. Incentive credits related to contract renewals are recorded as a reduction to revenue as part of the transaction price at contract inception and are allocated among the performance obligations based on their relative standalone selling prices. Credits based on the performance of our insurance costs are recorded as a reduction to insurance services revenues and included in client deposits and other client liabilities on the balance sheet.
Accrued Health Insurance Costs	In the three months ended March 31, 2021, 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.
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). The carrying value of the Company's cash equivalents and restricted cash equivalents approximate their fair values due to their short-term maturities.

Description of Business and S_3

Description of Business and Significant Accounting Policies - (Tables)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The change in the balance of the Recovery Credit unsatisfied performance obligation was as follows: Three Months Ended March 31, (in millions) 2021 Balance at beginning of period $ 92 (+) Accruals 12 (-) Distributions to clients (27) Balance at end of period $ 77

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments - Unrestricted and Restricted - (Tables)	3 Months Ended
	Mar. 31, 2021
Cash and Cash Equivalents [Abstract]
Summary of Cash, Cash Equivalents and Investments	Our total cash, cash equivalents and investments are summarized below: March 31, 2021 December 31, 2020 (in millions) Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents Available-for-sale marketable securities Total Cash and cash equivalents $ 500 $ — $ 500 $ 301 $ — $ 301 Investments — 71 71 — 57 57 Restricted cash, cash equivalents and investments: Payroll funds collected 906 — 906 1,228 — 1,228 Collateral for health benefits claims 22 90 112 16 82 98 Collateral for workers' compensation claims 61 — 61 60 — 60 Other security deposits 2 — 2 2 — 2 Total restricted cash, cash equivalents and investments 991 90 1,081 1,306 82 1,388 Investments, noncurrent — 130 130 — 138 138 Restricted cash, cash equivalents and investments, noncurrent Collateral for workers' compensation claims 30 154 184 36 174 210 Total $ 1,521 $ 445 $ 1,966 $ 1,643 $ 451 $ 2,094

Investments - (Tables)

Investments - (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 are presented below: March 31, 2021 December 31, 2020 (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 $ 25 $ — $ — $ 25 $ 24 $ — $ — $ 24 Corporate bonds 121 2 — 123 126 2 — 128 U.S. government agencies and government- sponsored agencies 23 — — 23 27 1 — 28 U.S. treasuries 256 3 — 259 261 4 — 265 Certificate of deposit 9 — — 9 — — — — Other debt securities 6 — — 6 6 — — 6 Total $ 440 $ 5 $ — $ 445 $ 444 $ 7 $ — $ 451 The gross proceeds from sales and maturities of AFS securities for the three months ended March 31, 2021 and March 31, 2020 are presented below. We had immaterial gross realized gains and losses from sales of investments for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, (in millions) 2021 2020 Gross proceeds from sales $ 41 $ 40 Gross proceeds from maturities 43 27 Total $ 84 $ 67
Fair Value of Debt Investments by Contractual Maturity	The fair value of debt investments by contractual maturity are shown below: (in millions) March 31, 2021 One year or less $ 135 Over one year through five years 281 Over five years through ten years 5 Over ten years 24 Total fair value $ 445

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements - (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis	The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of March 31, 2021 and December 31, 2020. (in millions) Level 1 Level 2 Total March 31, 2021 Cash equivalents: Money market mutual funds $ 127 $ — 127 Total cash equivalents 127 — 127 Investments: Asset-backed securities — 25 25 Corporate bonds — 89 89 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 77 77 Other debt securities — 6 6 Total investments — 202 202 Restricted cash equivalents: Money market mutual funds 95 — 95 Certificate of deposit — 1 1 Commercial paper — — — Total restricted cash equivalents 95 1 96 Restricted investments: Corporate bonds — 34 34 U.S. government agencies and government-sponsored agencies — 18 18 U.S. treasuries — 182 182 Certificate of deposit — 9 9 Total restricted investments — 243 243 Total cash equivalents and investments and restricted cash equivalents and investments $ 222 $ 446 $ 668 (in millions) Level 1 Level 2 Total December 31, 2020 Cash equivalents Money market mutual funds $ 2 $ — $ 2 U.S. treasuries — 11 11 Total cash equivalents 2 11 13 Investments Asset-backed securities — 24 24 Corporate bonds — 93 93 U.S. government agencies and government-sponsored agencies — 5 5 U.S. treasuries — 67 67 Other debt securities — 6 6 Total investments — 195 195 Restricted cash equivalents: Money market mutual funds 99 — 99 Total restricted cash equivalents 99 — 99 Restricted investments: Corporate bonds — 35 35 U.S. government agencies and government-sponsored agencies — 23 23 U.S. treasuries — 198 198 Total restricted investments — 256 256 Total investments and restricted cash equivalents and investments $ 101 $ 462 $ 563

Accrued Workers' Compensation_2

Accrued Workers' Compensation Costs- (Tables)	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and 2020: Three Months Ended (in millions) 2021 2020 Total accrued costs, beginning of period $ 205 $ 214 Incurred Current year 16 20 Prior years (4) (3) Total incurred 12 17 Paid Current year (1) (1) Prior years (11) (13) Total paid (12) (14) Total accrued costs, end of period $ 205 $ 217 The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets: (in millions) March 31, 2021 December 31, 2020 Total accrued costs, end of period $ 205 $ 205 Collateral paid to carriers and offset against accrued costs (8) (8) Total accrued costs, net of carrier collateral offset $ 197 $ 197 Payable in less than 1 year $2 and $3 at March 31, 2021 and December 31, 2020, respectively) $ 59 $ 59 Payable in more than 1 year $6 and $5 at March 31, 2021 and December 31, 2020, respectively) 138 138 Total accrued costs, net of carrier collateral offset $ 197 $ 197

Long-Term Debt and Revolving _2

Long-Term Debt and Revolving Credit Agreements - (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Revolving Credit Agreement Borrowings	As of March 31, 2021 and December 31, 2020, our long-term debt consisted of the following: (in millions) March 31, 2021 December 31, 2020 2018 Term Loan A $ — $ 370 2029 Notes 500 — Principal amount 500 370 Deferred issuance costs (6) — Less: current portion — (22) Long-term debt, noncurrent $ 494 $ 348 Annual contractual interest rate 3.50 % 1.77 % Effective interest rate 3.67 % 1.87 %

Stock Based Compensation - (Tab

Stock Based Compensation - (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of RSU and RSA Activity Under Equity-Based Plans	The following tables summarize RSU and RSA activity for the three months ended March 31, 2021: 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, 2020 1,230,071 30,026 1,260,097 $ 54.04 Granted 456,421 — 456,421 83.11 Vested (212,948) (7,055) (220,003) 45.14 Forfeited (47,908) — (47,908) 56.14 Nonvested at March 31, 2021 1,425,636 22,971 1,448,607 $ 64.48 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, 2020 167,127 16,052 183,179 $ 52.89 Granted 232,815 — 232,815 68.27 Vested (3,010) (16,052) (19,062) 47.61 Forfeited (9,459) — (9,459) 52.86 Nonvested at March 31, 2021 387,473 — 387,473 $ 62.39
Stock-based Compensation Expense	Stock based compensation expense for stock based awards made to our employees pursuant to our equity plans were as follows: Three Months Ended March 31, (in millions) 2021 2020 Cost of providing services $ 3 $ 2 Sales and marketing 1 2 General and administrative 6 5 Systems development and programming costs 1 — Total stock based compensation expense $ 11 $ 9

Stockholders' Equity - (Tables)

Stockholders' Equity - (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Common Stock	The following table shows the beginning and ending balances of our issued and outstanding common stock for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Shares issued and outstanding, beginning balance 66,456,663 69,065,491 Issuance of common stock from vested restricted stock units 215,958 173,629 Issuance of common stock from exercise of stock options 20,841 29,473 Repurchase of common stock (744,001) (747,417) Awards effectively repurchased for required employee withholding taxes (68,228) (51,126) Shares issued and outstanding, ending balance 65,881,233 68,470,050

Earnings Per Share (EPS) - (Tab

Earnings Per Share (EPS) - (Tables)	3 Months Ended
	Mar. 31, 2021
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 (in millions, except per share data) 2021 2020 Net income $ 101 $ 91 Weighted average shares of common stock outstanding 66 68 Basic EPS $ 1.53 $ 1.32 Net income $ 101 $ 91 Weighted average shares of common stock outstanding 66 68 Dilutive effect of stock options and restricted stock units 1 1 Weighted average shares of common stock outstanding 67 69 Diluted EPS $ 1.51 $ 1.31 Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect 1 1

Description of Business and S_4

Description of Business and Significant Accounting Policies - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 26, 2021USD ($)	Mar. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Product Information [Line Items]
Number of reportable segments | segment		1
Incentive credits		$ 25
Prepayments offsetting accrued health insurance costs		$ 52	$ 49
Subsequent Event
Product Information [Line Items]
Performance obligation period (in months)	12 months
Recovery credit program, maximum allowed amount	$ 145
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		$ 70	$ 58

Description of Business and S_5

Description of Business and Significant Accounting Policies - Unsatisfied Performance Obligation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Unsatisfied Performance Obligation [Roll Forward]
Balance at beginning of period	$ 92
(+) Accruals	12
(-) Distributions to clients	(27)
Balance at end of period	$ 77

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Unrestricted and Restricted - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 500	$ 301
Investments	71	57
Total restricted cash, cash equivalents and investments	1,081	1,388
Investments, noncurrent	130	138
Collateral for workers' compensation claims	184	210
Total cash equivalents and investments and restricted cash equivalents and investments	1,966	2,094
Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	500	301
Investments	0	0
Total restricted cash, cash equivalents and investments	991	1,306
Investments, noncurrent	0	0
Total cash equivalents and investments and restricted cash equivalents and investments	1,521	1,643
Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	0	0
Investments	71	57
Total restricted cash, cash equivalents and investments	90	82
Investments, noncurrent	130	138
Total cash equivalents and investments and restricted cash equivalents and investments	445	451
Payroll funds collected
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	906	1,228
Payroll funds collected | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	906	1,228
Payroll funds collected | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	0	0
Collateral for health benefits claims
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	112	98
Collateral for health benefits claims | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	22	16
Collateral for health benefits claims | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	90	82
Collateral for workers' compensation claims
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	61	60
Collateral for workers' compensation claims	184	210
Collateral for workers' compensation claims | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	61	60
Collateral for workers' compensation claims	30	36
Collateral for workers' compensation claims | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	0	0
Collateral for workers' compensation claims	154	174
Other security deposits
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	2	2
Other security deposits | Cash and cash equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	2	2
Other security deposits | Available-for-sale marketable securities
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash, cash equivalents and investments	$ 0	$ 0

Investments - Amortized Cost, G

Investments - Amortized Cost, Gross Unrealized Gains and Losses, Fair Values of Investments (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Securities
Amortized Cost	$ 440	$ 444
Gross Unrealized Gains	5	7
Gross Unrealized Losses	0	0
Fair Value	445	451
Asset-backed securities
Debt Securities
Amortized Cost	25	24
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	25	24
Corporate bonds
Debt Securities
Amortized Cost	121	126
Gross Unrealized Gains	2	2
Gross Unrealized Losses	0	0
Fair Value	123	128
U.S. government agencies and government- sponsored agencies
Debt Securities
Amortized Cost	23	27
Gross Unrealized Gains	0	1
Gross Unrealized Losses	0	0
Fair Value	23	28
U.S. treasuries
Debt Securities
Amortized Cost	256	261
Gross Unrealized Gains	3	4
Gross Unrealized Losses	0	0
Fair Value	259	265
Certificate of deposits
Debt Securities
Amortized Cost	9	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	9	0
Other debt securities
Debt Securities
Amortized Cost	6	6
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 6	$ 6

Investments - Fair Value of Deb

Investments - Fair Value of Debt Investments by Contractual Maturity (Details) $ in Millions	Mar. 31, 2021USD ($)
Investments, Debt and Equity Securities [Abstract]
One year or less	$ 135
Over one year through five years	281
Over five years through ten years	5
Over ten years	24
Total fair value	$ 445

Investments - Proceeds from ava

Investments - Proceeds from available-for-sale securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gross proceeds from sales	$ 41	$ 40
Gross proceeds from maturities	43	27
Total	$ 84	$ 67

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	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Financial Instruments [Line Items]
Total investments	$ 445	$ 451
Total cash equivalents and investments and restricted cash equivalents and investments	1,966	2,094
Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	127	13
Total investments	202	195
Total restricted cash equivalents	96	99
Total restricted investments	243	256
Total cash equivalents and investments and restricted cash equivalents and investments	668	563
Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	127	2
Total investments	0	0
Total restricted cash equivalents	95	99
Total restricted investments	0	0
Total cash equivalents and investments and restricted cash equivalents and investments	222	101
Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	0	11
Total investments	202	195
Total restricted cash equivalents	1	0
Total restricted investments	243	256
Total cash equivalents and investments and restricted cash equivalents and investments	446	462
Money market mutual funds | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	127	2
Total restricted cash equivalents	95	99
Money market mutual funds | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	127	2
Total restricted cash equivalents	95	99
Money market mutual funds | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total cash equivalents	0	0
Total restricted cash equivalents	0	0
U.S. treasuries | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total cash equivalents		11
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total cash equivalents		0
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total cash equivalents		11
Certificate of deposits | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	1
Certificate of deposits | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	0
Certificate of deposits | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	1
Commercial paper | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	0
Commercial paper | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	0
Commercial paper | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total restricted cash equivalents	0
Asset-backed securities
Fair Value, Financial Instruments [Line Items]
Total investments	25	24
Asset-backed securities | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total investments	25	24
Asset-backed securities | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total investments	0	0
Asset-backed securities | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total investments	25	24
Corporate bonds
Fair Value, Financial Instruments [Line Items]
Total investments	123	128
Corporate bonds | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total investments	89	93
Total restricted investments	34	35
Corporate bonds | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total investments	0	0
Total restricted investments	0	0
Corporate bonds | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total investments	89	93
Total restricted investments	34	35
U.S. government agencies and government- sponsored agencies
Fair Value, Financial Instruments [Line Items]
Total investments	23	28
U.S. government agencies and government- sponsored agencies | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total investments	5	5
Total restricted investments	18	23
U.S. government agencies and government- sponsored agencies | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total investments	0	0
Total 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]
Total investments	5	5
Total restricted investments	18	23
U.S. treasuries
Fair Value, Financial Instruments [Line Items]
Total investments	259	265
U.S. treasuries | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total investments	77	67
Total restricted investments	182	198
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total investments	0	0
Total restricted investments	0	0
U.S. treasuries | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total investments	77	67
Total restricted investments	182	198
Certificate of deposits
Fair Value, Financial Instruments [Line Items]
Total investments	9	0
Certificate of deposits | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total restricted investments	9
Certificate of deposits | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total restricted investments	0
Certificate of deposits | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total restricted investments	9
Other debt securities
Fair Value, Financial Instruments [Line Items]
Total investments	6	6
Other debt securities | Fair Value Measurement on a Recurring Basis
Fair Value, Financial Instruments [Line Items]
Total investments	6	6
Other debt securities | Fair Value Measurement on a Recurring Basis | Level 1
Fair Value, Financial Instruments [Line Items]
Total investments	0	0
Other debt securities | Fair Value Measurement on a Recurring Basis | Level 2
Fair Value, Financial Instruments [Line Items]
Total investments	$ 6	$ 6

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Fair Value Measurement on a Recurring Basis | Interest Rate Contract | Level 2
Debt Instrument [Line Items]
Derivative liability		$ 1
Loss on derivative instruments	$ (1)
2029 Notes Payable
Debt Instrument [Line Items]
Fair value of notes payable	$ 491

Accrued Workers' Compensation_3

Accrued Workers' Compensation Costs - Summary of Workers' Compensation Loss Reserve Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Total accrued costs, beginning of period	$ 205	$ 214
Incurred
Current year	16	20
Prior years	(4)	(3)
Total incurred	12	17
Paid
Current year	(1)	(1)
Prior years	(11)	(13)
Total paid	(12)	(14)
Total accrued costs, end of period	$ 205	$ 217

Accrued Workers' Compensation_4

Accrued Workers' Compensation Costs - Summary of Workers' Compensation Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Insurance [Abstract]
Total accrued costs, end of period	$ 205	$ 205	$ 217	$ 214
Collateral paid to carriers and offset against accrued costs	(8)	(8)
Total accrued costs, net of carrier collateral offset	197	197
Payable in less than 1 year (net of collateral paid to carriers)	59	59
Payable in more than 1 year (net of collateral paid to carriers)	138	138
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	$ 5

Accrued Workers' Compensation_5

Accrued Workers' Compensation Costs - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Insurance [Abstract]
Collateral held by insurance carriers	$ 44	$ 45
Liability for unpaid claims and claims adjustment expense, collateral	$ 8	$ 8

Long-Term Debt and Revolving _3

Long-Term Debt and Revolving Credit Agreements - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Principal amount	$ 500		$ 370
Deferred issuance costs	(6)		0
Less: current portion	0		(22)
Long-term debt, noncurrent	$ 494		$ 348
Annual contractual interest rate	3.50%		1.77%
Effective interest rate	3.67%		1.87%
2018 Term Loan A | Loans Payable
Line of Credit Facility [Line Items]
Principal amount	$ 0		$ 370
2029 Notes Payable | Loans Payable
Line of Credit Facility [Line Items]
Principal amount		$ 500	$ 0

Long-Term Debt and Revolving _4

Long-Term Debt and Revolving Credit Agreements - Narrative (Details) - USD ($)	1 Months Ended
	Feb. 28, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2018
Line of Credit Facility [Line Items]
Annual contractual interest rate		3.50%	1.77%
2018 Term Loan A | Loans Payable
Line of Credit Facility [Line Items]
Debt instrument, face amount				$ 425,000,000
2018 Revolver | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 250,000,000
2029 Notes Payable | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument, face amount	$ 500,000,000
Annual contractual interest rate	3.50%
2029 Notes Payable | Senior Notes | Before March, 01, 2024 | Full Redemption
Line of Credit Facility [Line Items]
Redemption price percentage	100.00%
2029 Notes Payable | Senior Notes | Before March, 01, 2024 | Partial Redemption
Line of Credit Facility [Line Items]
Redemption price percentage	103.50%
Percentage of principal amount redeemed	40.00%
2029 Notes Payable | Senior Notes | After March, 01, 2024
Line of Credit Facility [Line Items]
Redemption price percentage	101.75%
2029 Notes Payable | Senior Notes | March 01, 2025
Line of Credit Facility [Line Items]
Redemption price percentage	100.875%
2029 Notes Payable | Senior Notes | March, 01, 2026
Line of Credit Facility [Line Items]
Redemption price percentage	100.00%
2021 Revolving Credit Facility | Revolving Credit Facility | Line of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000,000
Remaining borrowing capacity	$ 491,000,000
2021 Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of credit
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
2021 Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of credit | Credit Rating Below Investment Grade
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.125%
2021 Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of credit | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
2021 Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of credit | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
2021 Revolving Credit Facility | Base Rate | Revolving Credit Facility | Line of credit | Credit Rating Below Investment Grade
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.125%
2021 Revolving Credit Facility | Base Rate | Revolving Credit Facility | Line of credit | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
2021 Revolving Credit Facility | Base Rate | Revolving Credit Facility | Line of credit | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
2021 Revolving Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate | Revolving Credit Facility | Line of credit
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	Sep. 29, 2020retirementPlan
Commitments and Contingencies Disclosure [Abstract]
Number of retirement plans subject to class action	2

Stock Based Compensation - Narr

Stock Based Compensation - Narrative (Details)	3 Months Ended
	Mar. 31, 2021
Time-based RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	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
Performance-based RSUs and RSAs | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Amount of shares that are expected to vest (as a percent )	50.00%

Stock Based Compensation - Summ

Stock Based Compensation - Summary Of RSU And RSA Activity (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Time-based RSUs and RSAs
Number of Shares
Balance (in shares)	1,260,097
Granted (in shares)	456,421
Vested (in shares)	(220,003)
Forfeited (in shares)	(47,908)
Balance (in shares)	1,448,607
Weighted-Average Grant Date Fair Value
Balance (in dollars per share) | $ / shares	$ 54.04
Granted (in dollars per share) | $ / shares	83.11
Vested (in dollars per share) | $ / shares	45.14
Forfeited (in dollars per share) | $ / shares	56.14
Balance (in dollars per share) | $ / shares	$ 64.48
Time-Based Restricted Stock Units
Number of Shares
Balance (in shares)	1,230,071
Granted (in shares)	456,421
Vested (in shares)	(212,948)
Forfeited (in shares)	(47,908)
Balance (in shares)	1,425,636
Time-Based Restricted Stock Awards
Number of Shares
Balance (in shares)	30,026
Granted (in shares)	0
Vested (in shares)	(7,055)
Forfeited (in shares)	0
Balance (in shares)	22,971
Performance-based RSUs and RSAs
Number of Shares
Balance (in shares)	183,179
Granted (in shares)	232,815
Vested (in shares)	(19,062)
Forfeited (in shares)	(9,459)
Balance (in shares)	387,473
Weighted-Average Grant Date Fair Value
Balance (in dollars per share) | $ / shares	$ 52.89
Granted (in dollars per share) | $ / shares	68.27
Vested (in dollars per share) | $ / shares	47.61
Forfeited (in dollars per share) | $ / shares	52.86
Balance (in dollars per share) | $ / shares	$ 62.39
Performance-Based Restricted Stock Units
Number of Shares
Balance (in shares)	167,127
Granted (in shares)	232,815
Vested (in shares)	(3,010)
Forfeited (in shares)	(9,459)
Balance (in shares)	387,473
Performance-Based Restricted Stock Awards
Number of Shares
Balance (in shares)	16,052
Granted (in shares)	0
Vested (in shares)	(16,052)
Forfeited (in shares)	0
Balance (in shares)	0

Stock Based Compensation - Stoc

Stock Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 11	$ 9
Cost of providing services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	3	2
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	1	2
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	6	5
Systems development and programming costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 1	$ 0

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued beginning balance (in shares)	66,456,663	69,065,491
Repurchase of common stock (in shares)	(744,001)	(747,417)
Awards effectively repurchased for required employee withholding taxes (in shares)	(68,228)	(51,126)
Shares issued ending balance (in shares)	65,881,233	68,470,050
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)	215,958	173,629
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)	20,841	29,473

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Repurchase of common stock (in shares)	744,001	747,417
Repurchase of common stock	$ 60
Amount available for further repurchases under stock repurchase program	$ 298

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	Jan. 18, 2019	Mar. 31, 2021	Mar. 31, 2020
Income Tax Contingency [Line Items]
Effective income tax rate		25.00%	25.00%
Amount awarded	$ 15
Internal Revenue Service
Income Tax Contingency [Line Items]
Income taxes paid		$ 11
Interest payment		$ 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
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income	$ 101	$ 91
Weighted average shares of common stock outstanding (in shares)	66	68
Basic earnings per share (in dollars per share)	$ 1.53	$ 1.32
Dilutive effect of stock options and restricted stock units (in shares)	1	1
Weighted average shares of common stock outstanding - diluted (in shares)	67	69
Diluted earnings per share (in dollars per share)	$ 1.51	$ 1.31
Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect (in shares)	1	1