Company: NSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001000753-25-000023
Chunk: 11

Company: INSPERITY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 11
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 valuation factors:•Level 1 - quoted prices in active markets using identical assets•Level 2 - significant other observable inputs, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other observable inputs•Level 3 - significant unobservable inputs

Insperity | 2025 First Quarter Form 10-Q15

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Fair Value of Instruments Measured and Recognized at Fair ValueThe following table summarizes the levels of fair value measurements of our financial assets:March 31, 2025December 31, 2024(in millions)TotalLevel 1TotalLevel 1Money market funds$568 $568 $1,048 $1,048 U.S. Treasury bills17 17 16 16 585 585 1,064 1,064 Deposits - money market funds242 242 241 241 Total$827 $827 $1,305 $1,305 Please read Note 3. “Other Balance Sheet Information,” for additional information.Our valuation techniques used to measure fair value for these securities during the period consisted primarily of third-party pricing services that utilized actual market data such as trades of comparable bond issues, broker/dealer quotations for the same or similar investments in active markets and other observable inputs.The following is a summary of our available-for-sale marketable securities:(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueMarch 31, 2025U.S. Treasury bills$17 $— $— $17 December 31, 2024U.S. Treasury bills$16 $— $— $16 As of March 31, 2025, the contractual maturities of all marketable securities in our portfolio were less than one year.Fair Value of Other Financial InstrumentsThe carrying amounts of cash, cash equivalents, restricted cash, accounts receivable, deposits and accounts payable approximate their fair values due to the short-term maturities of these instruments.As of March 31, 2025, the carrying value of borrowings under our revolving credit facility approximates fair value and was classified as Level 2 in the fair value hierarchy. Please read Note 5, “Long-Term Debt,” for additional information.

5.Long-Term DebtWe have a revolving credit facility (the “Facility”) with a borrowing capacity of up to