Company: NSP
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001000753-25-000008
Chunk: 113

Company: INSPERITY, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 113
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 is a summary of our available-for-sale marketable securities:(in millions)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueDecember 31, 2024U.S. Treasury bills$16 $— $— $16 December 31, 2023U.S. Treasury bills$16 $— $— $16 As of December 31, 2024, 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 December 31, 2024, 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 6, “Long-Term Debt,” for additional information.

 F-202024   Form 10-K

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

4.Accounts ReceivableAccounts receivable, net consisted of the following:December 31,(in millions)20242023Trade, net$9 $16 Unbilled810 669 Other10 9 Accounts receivable, net$829 $694 Our accounts receivable is primarily composed of trade receivables and unbilled receivables. Our trade receivables, which represent outstanding gross billings to clients, are reported net of allowance for doubtful accounts of $1 million as of both December 31, 2024 and 2023. We establish an allowance for doubtful accounts based on management’s assessment of the collectability of specific accounts and by making a general provision for other potentially uncollectible amounts.We make an accrual at the end of each accounting period for our obligations associated with the earned but unpaid wages of our WSEEs and for the accrued gross billings associated with such wages. These accruals are included in accrued worksite employee payroll cost and unbilled accounts receivable; however, these amounts are presented net in the Consolidated Statements of Income. We generally require clients to pay invoices for service fees no later than the same day as the applicable payroll date. As such, we generally do not require collateral. Client prepayments directly attributable to accrued worksite employee payroll costs and unbilled revenues have been netted as we have the legal right of