Company: NSP
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001000753-25-000008
Chunk: 112

Company: INSPERITY, INC.
Filing Date: 2025-02-11
Form: 10-K
Item: Item 16
Chunk 112
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 and December 31, 2023, payroll taxes and other payroll deductions payable were $901 million and $566 million, respectively. The balance at December 31, 2024 includes $440 million of funds we received in late December 2024 from the Internal Revenue Service related to employee retention tax credits claimed by our PEO clients under the COVID relief programs, that are expected to be distributed to clients in early 2025.

3.Fair Value MeasurementsWe account for our financial assets in accordance with ASC 820, Fair Value Measurement. This standard defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The fair value measurement disclosures are grouped into three levels based on 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

 F-192024   Form 10-K

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:December 31, 2024December 31, 2023(in millions)TotalLevel 1Level 2TotalLevel 1Level 2Money market funds$1,048 $1,048 $— $730 $730 $— U.S. Treasury bills16 16 — 16 16 — 1,064 1,064 — 746 746 — Deposits - money market funds241 241 — 22 22 — Total$1,305 $1,305 $— $768 $768 $— Please read Note 2. “Other Balance Sheet Information,” for additional information.During 2024, we transferred $158 million of claim funds previously held with Chubb to a trust account and those funds were subsequently invested in money market funds. Both before and after the transfer, these funds were included in restricted cash and deposits - workers’ compensation on our Consolidated Balance Sheet.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