Company: NSP
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001000753-25-000107
Chunk: 43

Company: INSPERITY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 43
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(25)%All other general and administrative133 139 (4)%48 50 (4)%Total general and administrative154 167 (8)%55 61 (10)%Depreciation and amortization33 33 — 12 12 — Total operating expenses$692 $702 (1)%$248 $254 (2)%

Operating expenses for YTD 2025 decreased 1% to $692 million compared to $702 million in YTD 2024. Operating expenses per WSEE per month for YTD 2025 decreased 2% to $248 compared to $254 in YTD 2024.

Insperity | 2025 Third Quarter Form 10-Q31

     MANAGEMENT’S DISCUSSION AND ANALYSIS OF      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

•General and administrative expenses for YTD 2025 decreased 8% to $154 million, or $6 per WSEE per month, compared to YTD 2024. The decrease was primarily due to decreased professional services fees, which includes expenses related to the implementation of our Workday strategic partnership, travel and training, and amortization of SaaS implementation costs, partially offset by increases in software licensing and maintenance costs.

Other Income (Expense)

Interest income decreased $4 million in YTD 2025 compared to YTD 2024 due to interest rate decreases on overnight, investment and deposit holdings.

Interest expense decreased $3 million in YTD 2025 compared to YTD 2024 due to decreases in interest rates charged on borrowings under our credit facility. 

Income Tax Expense

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Effective income tax rate17%—38%28%

For the nine months ended September 30, 2025, our provision for income taxes differed from the U.S. statutory rate primarily due to state income taxes, non-deductible expenses and vesting of restricted and long-term incentive stock awards. The decrease in net income without a corresponding change in non-deductible expenses resulted in a higher effective tax rate for the period. During the first nine months of 2025 we recognized a $1 million income tax expense related to the vesting of long-term incentive and restricted stock awards. During the first nine months of 2024 we did not recognize an income tax benefit or expense related to the vesting of long-term