Company: NSP
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001000753-25-000023
Chunk: 1

Company: INSPERITY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 1
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11 10 Commissions11 12 Advertising7 7 General and administrative expenses60 57 Depreciation and amortization11 11 Total operating expenses242 237 Operating income68 108 Other income (expense):Interest income10 10 Interest expense(6)(7)Income before income tax expense72 111 Income tax expense21 32 Net income$51 $79 Net income per share of common stockBasic$1.37 $2.11 Diluted$1.35 $2.08 

See accompanying notes.

Insperity | 2025 First Quarter Form 10-Q7

FINANCIAL STATEMENTS(Unaudited)

CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended March 31,(in millions)20252024Cash flows from operating activitiesNet income$51 $79 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization11 11 Stock-based compensation11 10 Deferred income taxes24 14 Changes in operating assets and liabilities:Accounts receivable(5)(30)Prepaid insurance and related assets(31)(30)Other current assets(16)(27)Other assets and ROU assets(8)5 Accounts payable(2)(5)Payroll taxes and other payroll deductions payable(444)(77)Accrued worksite employee payroll costs(12)63 Accrued health insurance costs49 25 Accrued workers’ compensation costs(8)(4)Accrued corporate payroll, commissions and other accrued liabilities(37)(15)Income taxes payable/receivable(26)12 Total adjustments(494)(48)Net cash provided by (used in) operating activities(443)31 Cash flows from investing activitiesMarketable securities:Purchases(6)(6)Proceeds from maturities6 6 Property and equipment purchases(6)(5)Net cash used in investing activities(6)(5)Cash flows from financing activitiesPurchase of treasury stock(19)(23)Dividends paid(23)(21)Client funds liability and other(7)(39)Net cash used in financing activities(49)(83)Net decrease in cash, cash equivalents, restricted cash, funds held for clients, and deposits – workers’ compensation(498)(57)Cash, cash equivalents, restricted cash, funds held for clients, and deposits - workers’ compensation beginning of period1