Company: NSP
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001000753-25-000069
Chunk: 43

Company: INSPERITY, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 7
Chunk 43
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 — Total operating expenses$472 $474 — $256 $259 (1)%

Operating expenses for YTD 2025 decreased to $472 million compared to $474 million in YTD 2024. Operating expenses per WSEE per month for YTD 2025 decreased 1% to $256 compared to $259 in YTD 2024.

Insperity | 2025 Second Quarter Form 10-Q31

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

Other Income (Expense)

Interest income decreased $2 million in YTD 2025 compared to YTD 2024 due to interest rate decreases on overnight, investment and deposit holdings.

Interest expense decreased $2 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 June 30,Six Months Ended June 30,2025202420252024Effective income tax rate17%28%30%29%

For the six months ended June 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. During the first six 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 six months of 2024 we did not recognize an income tax benefit or expense related to the vesting of long-term incentive and restricted stock awards. 

On July 4, 2025, H.R.1, which is known as the “One Big Beautiful Bill Act,” was signed into federal law. This law includes significant changes to federal tax law and other regulatory provisions that may impact us. ASC 740, “Income Taxes”, requires the effect of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. We are currently evaluating the provisions of H.R.1 and the potential effects on our financial position, results of operations, and cash flows. As of the date of these financial statements, we have not completed our assessment, and therefore no adjustments have been made. Additional disclosures of any material impact will be provided in future periods as the effect of the legislation is determined.

Insperity | 2025 Second Quarter Form