TRINET GROUP, INC., 10-Q filed on 4/30/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
Apr. 23, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-36373  
Entity Registrant Name TRINET GROUP, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 95-3359658  
Entity Address, Address Line One One Park Place,  
Entity Address, Address Line Two Suite 600  
Entity Address, City or Town Dublin,  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94568  
City Area Code 510  
Local Phone Number 352-5000  
Title of 12(b) Security Common stock par value $0.000025 per share  
Trading Symbol TNET  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   45,944,643
Entity Central Index Key 0000937098  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income $ 14 $ 18
Total revenues 1,226 1,292
Insurance costs 856 942
Cost of providing services 70 71
Sales and marketing 69 67
General and administrative 59 46
Systems development and programming 19 20
Depreciation and amortization of intangible assets 17 17
Interest expense, bank fees and other 13 14
Total costs and operating expenses 1,103 1,177
Income before tax 123 115
Income taxes 34 30
Net income 89 85
Other comprehensive income, net of income taxes (2) 2
Comprehensive income $ 87 $ 87
Net income per share:    
Basic (in dollars per share) $ 1.90 $ 1.72
Diluted (in dollars per share) $ 1.90 $ 1.71
Weighted average shares:    
Basic (in shares) 47 49
Diluted (in shares) 47 49
Professional service revenues    
Service revenues $ 189 $ 209
Insurance service revenues    
Service revenues $ 1,023 $ 1,065
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 340 $ 287
Restricted cash, cash equivalents and investments 1,122 1,694
Accounts receivable, net 7 20
Payroll funds receivable 451 264
Prepaid expenses, net 64 82
Other payroll assets 449 474
Other current assets 51 47
Total current assets 2,484 2,868
Restricted cash, cash equivalents and investments, noncurrent 122 128
Property and equipment, net 22 11
Operating lease right-of-use asset 38 36
Goodwill 461 461
Software and other intangible assets, net 155 153
Other assets 138 140
Total assets 3,420 3,797
Current liabilities:    
Accounts payable and other current liabilities 89 86
Client deposits and other client liabilities 49 57
Accrued wages 542 555
Accrued health insurance costs, net 193 207
Accrued workers' compensation costs, net 44 42
Payroll tax liabilities and other payroll withholdings 1,289 1,671
Operating lease liabilities 11 10
Insurance premiums and other payables 9 9
Total current liabilities 2,226 2,637
Long-term debt, noncurrent 896 895
Accrued workers' compensation costs, noncurrent, net 109 106
Deferred taxes 54 55
Operating lease liabilities, noncurrent 39 37
Other non-current liabilities 13 13
Total liabilities 3,337 3,743
Commitments and contingencies (see Note 5)
Stockholders' equity:    
Preferred stock, ($0.000025 par value per share; 20,000,000 shares authorized; no shares issued or outstanding at March 31, 2026 and December 31, 2025) 0 0
Common stock and additional paid-in capital, ($0.000025 par value per share; 750,000,000 shares authorized; 46,125,755 and 47,377,950 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 1,151 1,135
Accumulated deficit (1,066) (1,081)
Accumulated other comprehensive loss (2) 0
Total stockholders' equity 83 54
Total liabilities & stockholders' equity $ 3,420 $ 3,797
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
Mar. 31, 2026
Dec. 31, 2025
Preferred stock    
Preferred stock, par value (in dollars per share) $ 0.000025 $ 0.000025
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock and additional paid-in capital    
Common stock, par value (in dollars per share) $ 0.000025 $ 0.000025
Common stock, shares authorized (in shares) 750,000,000 750,000,000
Common stock, shares issued (in shares) 46,125,755 47,377,950
Common stock, shares outstanding (in shares) 46,125,755 47,377,950
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Common Stock and Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Income
Beginning balance at Dec. 31, 2024 $ 69 $ 1,056 $ (984) $ (3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Stock based compensation expense   14    
Net income 85   85  
Common stock dividends     (13)  
Repurchase of common stock     (90)  
Awards effectively repurchased for required employee withholding taxes     (4)  
Other comprehensive income 2     2
Ending balance at Mar. 31, 2025 63 1,070 (1,006) (1)
Beginning balance at Dec. 31, 2025 54 1,135 (1,081) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Stock based compensation expense   16    
Net income 89   89  
Common stock dividends     (13)  
Repurchase of common stock     (58)  
Awards effectively repurchased for required employee withholding taxes     (3)  
Other comprehensive income (2)     (2)
Ending balance at Mar. 31, 2026 $ 83 $ 1,151 $ (1,066) $ (2)
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 89 $ 85
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 17 17
Amortization of deferred costs 13 12
Amortization of ROU asset, lease modification, impairment, and abandonment 2 2
Deferred income taxes 0 (1)
Stock based compensation 16 13
Other 1 3
Changes in operating assets and liabilities:    
Accounts receivable, net 0 1
Prepaid expenses, net 22 7
Other assets (11) (6)
Accounts payable and other liabilities 0 (11)
Accrued wages 0 (17)
Accrued health insurance costs, net 0 1
Accrued workers' compensation costs, net 2 2
Payroll taxes liabilities and other payroll withholdings 0 (10)
Operating lease liabilities (2) (3)
Net cash provided by operating activities 149 95
Investing activities    
Purchases of marketable securities (25) (27)
Proceeds from sale and maturity of marketable securities 38 34
Acquisitions of property and equipment and software (26) (16)
Proceeds from sale of business 0 1
Net cash used in investing activities (13) (8)
Financing activities    
Change in WSE and TriNet Trust related assets and liabilities, net (571) (388)
Repurchase of common stock (58) (90)
Awards effectively repurchased for required employee withholding taxes (3) (4)
Dividends paid (13) (12)
Net cash used in financing activities (645) (494)
Effect of exchange rate changes on cash and cash equivalents (1) 0
Net change in cash and cash equivalents, unrestricted and restricted (510) (407)
Cash and cash equivalents, unrestricted and restricted:    
Beginning of period 1,902 1,691
End of period 1,392 1,284
Supplemental disclosures of cash flow information    
Interest paid 24 25
Supplemental schedule of noncash investing and financing activities    
Cash dividend declared, but not yet paid 13 13
Payable for purchase of property and equipment 6 1
Receivable from sale of business $ 0 $ 6
v3.26.1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
Description of Business
TriNet Group, Inc. (TriNet, or the Company, we, our and us) provides comprehensive HCM solutions for small and medium-size businesses under both a PEO model and an ASO services model. These HCM solutions include multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers' compensation insurance and claims management, employment and benefit law compliance, and other HR-related services. Through our PEO service model, we are the employer of record for certain employment-related administrative and regulatory purposes for WSEs, including:
•compensation through wages and salaries,
•certain employer payroll-related tax payments,
•employee payroll-related tax withholdings and payments,
•employee benefit programs, including health and life insurance, and
•workers' compensation coverage.
Our PEO clients are responsible for the day-to-day job responsibilities of the WSEs.
Through our ASO services model, we provide cloud-based HCM services to SMBs that allows them to manage hiring, onboarding, employee information, payroll processing, payroll tax administration, health insurance, and other benefits, from a single cloud-based software platform. We are not the co-employer or employer of record for such employees.
We operate in one reportable segment. All of our service revenues are generated from external clients. Less than 1% of our revenue is generated outside of the U.S.
Basis of Presentation and Basis of Consolidation
These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Rules and Regulations of the Securities and Exchange Commission. The unaudited condensed consolidated financial statements include the accounts of the Company and an entity consolidated under the variable interest model. Intercompany balances and transactions have been eliminated. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, that are normal and recurring in nature, necessary for fair financial statement presentation. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the operating results anticipated for the full year. These financial statements should be read in conjunction with the audited Consolidated Financial Statements included in Part II, Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K for the year ended December 31, 2025. Certain prior year amounts have been reclassified to conform to current period presentation.
When entering into contractual arrangements with other entities, we assess whether we have a variable interest. If we determine that we have a variable interest, we then determine whether the arrangement is with a VIE. If the arrangement is with a VIE, we assess whether we are the primary beneficiary of the VIE by identifying the most significant activities and determining who has the power over those activities and who has the obligation to absorb the majority of the losses or benefits of the VIE. We consolidate a VIE when we have the power to direct activities that most significantly affect the economic performance of the VIE and have the obligation to absorb the majority of their losses or benefits, making us the primary beneficiary.
Periodically, we assess whether any changes in our interest or relationship with the entity affect our determination of whether the entity is a VIE and, if so, whether we are the primary beneficiary.
In December 2023, we created TriNet Trust for the purpose of holding ASO clients' payroll funds for the remittance to ASO Users, tax authorities and other recipients. TriNet Trust's assets are restricted and can only be used for payments on behalf of ASO clients, repayments of any advances from TriNet, or payments to TriNet of interest income earned on the balances of TriNet Trust. In the event of any losses, creditors to the Trust have recourse to
TriNet Trust's property and not that of TriNet overall. The risks associated with the Trust are similar to those that currently exist for the Company such as banking losses in excess of FDIC insurance levels, interest rate and market conditions.
We determined that TriNet Trust meets the definition of a variable interest entity and as the primary beneficiary we have both the power to direct TriNet Trust’s activities that most significantly affect its performance and we have the right to receive benefits from TriNet Trust, in the form of interest income, which represents majority of TriNet Trust's benefits. As a result, TriNet Trust is consolidated into our financial statements. During the first quarter of 2024, TriNet Trust assumed ownership and responsibility of certain bank accounts that hold ASO client funds and assumed related liabilities.
The following table presents the assets and liabilities of TriNet Trust which are included in our condensed consolidated balance sheet. These amounts on any particular date can vary due to timing of cash receipts and remittances related to the payroll processing activities of our clients.
(in millions)March 31, 2026December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents$2 $1 
Restricted cash, cash equivalents and investments53 79 
Total current assets55 80 
Total assets$55 $80 
LIABILITIES
Current liabilities:
Accounts payable and other current liabilities$2 $1 
Accrued wages11 33 
Payroll tax liabilities and other payroll withholdings42 46 
Total current liabilities55 80 
Total liabilities$55 $80 
Use of Estimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect certain reported amounts and related disclosures.
These estimates are based on historical experience and on various other assumptions that we believe to be reasonable from the facts available to us. Some of the assumptions are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our condensed consolidated financial statements could be materially affected.
Accrued Health Insurance Costs
We sponsor and administer a number of employee benefit plans for our PEO WSEs, including group health, dental, and vision as an employer plan sponsor under section 3(5) of the ERISA. In the three months ended March 31, 2026, the majority of our group health insurance costs were related to risk-based plans. Our remaining group health insurance costs were for guaranteed-cost policies.
Accrued health insurance costs are established to provide for the estimated unpaid costs of reimbursing the carriers for paying claims within the deductible layer in accordance with risk-based health insurance policies. These accrued costs include estimates for claims incurred but not paid. We assess accrued health insurance costs regularly based upon actuarial studies that include other relevant factors such as current and historical claims payment patterns, plan enrollment and medical trend rates.
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of March 31, 2026 and December 31, 2025, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $66 million and $62 million, respectively. When the prepaid amount is in excess of our recorded liability, the net asset position is included in prepaid expenses. As of March 31, 2026 and December 31, 2025, accrued health insurance costs offsetting prepaid expenses were $81 million and $87 million, respectively.
Other Payroll Assets and Payroll Tax Liabilities and Other Payroll Withholdings
Included in other payroll assets are expected payroll tax refunds for which we have filed payroll tax returns claiming the refund with the IRS. Included in these receivables are ERTC and other credits that we have filed returns for on behalf of our clients. When we file a claim for a refund that will be passed on to our clients, we recognize a corresponding liability that is recognized in payroll tax liabilities and other payroll withholdings. We also have receivables from the IRS for ERTC claims where we have distributed portions of the receivables to our clients. As of March 31, 2026 and December 31, 2025, total ERTC receivables are $334 million and $384 million, respectively. Of this amount, a net amount of $22 million and $19 million have been distributed to our clients as of March 31, 2026 and December 31, 2025, respectively.
Recent Accounting Pronouncements
Recently issued accounting guidance
Disaggregation of Income Statement Expenses
In December 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Disaggregation of Income Statement Expenses, to enhance the transparency and decision-usefulness of financial reporting by requiring public business entities to provide more detailed disclosures about the components of certain expense captions in their income statements. The ASU is effective for TriNet on a prospective basis for annual periods beginning after December 15, 2026. The Company is currently evaluating the provisions of this ASU.
Internal-Use Software
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (ASU 2025-06) which amends the guidance in ASC 350-40, Intangibles—Goodwill and Other—Internal-Use Software. The amendments modernize the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and for interim periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the provisions of this ASU.
v3.26.1
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
 3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED
Under the terms of the agreements with certain of our workers' compensation and health benefit insurance carriers, we are required to maintain collateral in trust accounts for the benefit of specified insurance carriers and to reimburse the carriers’ claim payments within our deductible layer. We invest a portion of the collateral amounts in marketable securities. We report the current and noncurrent portions of these trust accounts as restricted cash, cash equivalents and investments on the condensed consolidated balance sheets.
We require our clients to prefund their payroll and related taxes and other withholding liabilities before payroll is processed or due for payment. This prefund, for PEO customers, as well as amounts held by our statutory trust for our ASO Users, is included in restricted cash, cash equivalents and investments as payroll funds collected, which is designated to pay pending payrolls, payroll tax liabilities and other payroll-related liabilities. Also included in restricted cash are payroll tax refunds received that have not yet been remitted to clients pending our determination of allocation of payments to clients on the gross receipts from tax authorities.
We also invest available corporate funds, primarily in fixed income securities which meet the requirements of our corporate investment policy and are classified as AFS.
Our total cash, cash equivalents and investments are summarized below:
March 31, 2026December 31, 2025
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$340 $— $340 $287 $— $287 
Restricted cash, cash equivalents and investments:
Payroll funds collected879 — 879 1,424 — 1,424 
Collateral for health benefits claims37 106 143 37 108 145 
Collateral for workers' compensation claims45 — 45 45 — 45 
Trust for our ASO Users54 — 54 79 — 79 
Other security deposits1 — 1 1 — 1 
Total restricted cash, cash equivalents and investments1,016 106 1,122 1,586 108 1,694 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims36 86 122 29 99 128 
Total$1,392 $192 $1,584 $1,902 $207 $2,109 
v3.26.1
INVESTMENTS
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of March 31, 2026 and December 31, 2025 and the amortized cost, gross unrealized gains, gross unrealized losses and fair value of our AFS investments:
(in millions)Fair Value LevelAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash and Cash EquivalentsRestricted Cash, Cash Equivalents and Investments
March 31, 2026
Cash equivalents:
Money market mutual fundsLevel 1$198 $— $— $198 $92 $106 
U.S. treasuriesLevel 210 — — 10 — 10 
Total cash equivalents208 — — 20892 116 
AFS Investments:
Corporate bondsLevel 230 — — 30 — 30 
Agency securitiesLevel 211 — — 11 — 11 
U.S. treasuriesLevel 2151 1 (1)151 — 151 
Total AFS Investments$192 $1 $(1)$192 $— $192 
(in millions)Fair Value LevelAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash and Cash EquivalentsRestricted Cash, Cash Equivalents and Investments
December 31, 2025
Cash equivalents:
Money market mutual fundsLevel 1$483 $— $— $483 $96 $387 
U.S. treasuriesLevel 22 — — 2— 2 
Total cash equivalents485 — — 48596 389 
AFS Investments:
Corporate bondsLevel 234 — — 34 — 34 
Agency securitiesLevel 211 — — 11 — 11 
U.S. treasuriesLevel 2160 2 — 162 — 162 
Total AFS Investments$205 $2 $— $207 $— $207 
Fair Value of Financial Instruments
We use an independent pricing source to determine the fair value of our securities. The independent pricing source utilizes various pricing models for each asset class, including the market approach. The inputs and assumptions for the pricing models are market observable inputs including trades of comparable securities, dealer quotes, credit spreads, yield curves and other market-related data.
We have not adjusted the prices obtained from the independent pricing service and we believe the prices received from the independent pricing service are representative of the prices that would be received to sell the assets at the measurement date (exit price).
The carrying value of the Company's cash equivalents and restricted cash equivalents approximate their fair values due to their short-term maturities.
We did not have any Level 3 financial instruments recognized in our condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025. There were no transfers between levels as of March 31, 2026 and December 31, 2025.
Sales and Maturities
The fair value of debt investments by contractual maturity are shown below:
(in millions)March 31, 2026
One year or less$10 
Over one year through five years177 
Over five years through ten years5 
Total fair value$192 
The gross proceeds from sales and maturities of AFS securities and gross realized losses for the three months ended March 31, 2026 and 2025 are presented below. We had immaterial gross realized gains from sales of investments for the three months ended March 31, 2026 and 2025.

Three Months Ended March 31,
(in millions)
2026
2025
Gross realized losses$— $(1)
Gross proceeds from sales37 31 
Gross proceeds from maturities1 3 
Fair Value of Long-Term Debt
As of March 31, 2026, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $453 million and $389 million, respectively. As of December 31, 2025, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $473 million and $414 million, respectively. The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement.
The fair value of our floating rate debt is estimated based on a discounted cash flow, which incorporates credit spreads, market interest rates and contractual maturities to estimate the fair value and is considered Level 3 in the hierarchy for fair value measurement.
v3.26.1
ACCRUED WORKERS' COMPENSATION COSTS
 3 Months Ended
Mar. 31, 2026
Insurance [Abstract]  
ACCRUED WORKERS' COMPENSATION COSTS ACCRUED WORKERS' COMPENSATION COSTS
The following table summarizes the accrued workers’ compensation cost activity for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
(in millions)
2026
2025
Total accrued costs, beginning of period$151 $158 
Incurred
Current year15 14 
Prior years(1)(1)
Total incurred14 13 
Paid
Current year— — 
Prior years(9)(11)
Total paid(9)(11)
Total accrued costs, end of period$156 $160 
The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets:
(in millions)
March 31, 2026
December 31, 2025
Total accrued costs, end of period$156 $151 
Collateral paid to carriers and offset against accrued costs(3)(3)
Total accrued costs, net of carrier collateral offset$153 $148 
Payable in less than 1 year
(net of collateral paid to carriers of $1 at March 31, 2026 and December 31, 2025)
$44 $42 
Payable in more than 1 year
(net of collateral paid to carriers of $2 at March 31, 2026 and December 31, 2025)
109 106 
Total accrued costs, net of carrier collateral offset$153 $148 
Incurred losses related to prior years represent changes in estimates for ultimate losses on workers' compensation claims. For the three months ended March 31, 2026, the favorable development is driven by lower than expected development on the average size of reported claims.
As of March 31, 2026 and December 31, 2025, we had $25 million of collateral held by insurance carriers, of which $3 million was offset against accrued workers' compensation costs as the agreements permit and are net settled of insurance obligations against collateral held.
v3.26.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Contingencies
We are and, from time to time, have been and may in the future become involved in various litigation matters, legal proceedings, regulatory investigations and claims arising in the ordinary course of our business, including disputes with our clients or various class action, collective action, representative action, and other proceedings arising from the nature of our co-employment relationship with our clients and WSEs in which we are named as a defendant. In addition, due to the nature of our co-employment relationship with our clients and WSEs, we could be subject to liability for federal and state law violations, even if we do not participate in such violations. While our agreements with our clients contain indemnification provisions related to the conduct of our clients, we may not be able to avail ourselves of such provisions in every instance. We have accrued our current best estimates of probable losses with respect to these matters, which are individually and in aggregate immaterial to our condensed consolidated financial statements.
While the outcome of the matters described above cannot be predicted with certainty, management currently does not believe that any such claims or proceedings will have a materially adverse effect on our consolidated financial position, results of operations, or cash flows. However, the unfavorable resolution of any particular matter or our
reassessment of our exposure for any of the above matters based on additional information obtained in the future could have a material impact on our condensed consolidated financial position, results of operations, or cash flows.
v3.26.1
STOCK BASED COMPENSATION
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION STOCK BASED COMPENSATION
Restricted Stock Units (RSUs)
Time-based RSUs generally vest over a four-year term. Performance-based RSUs are subject to vesting requirements and are earned, in part, based on certain financial performance metrics as defined in the grant notice. Actual number of shares earned under performance-based RSUs may range from 0% to 200% of the target award. Performance-based awards granted in 2026 and 2025 are earned based on a single-year performance period subject to subsequent multi-year time-based vesting with 50% of the shares earned vesting in one year after the performance period and the remaining shares in the year after. RSUs are generally forfeited if the participant terminates service prior to vesting. The fair value of our RSUs is equal to the fair value of our common stock on the grant date.
The following tables summarize RSU activity for the three months ended March 31, 2026:
Time-based RSUs
Total Number
of Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at December 31, 20251,127,651 $86.55 
Granted1,289,787 37.99 
Vested(143,968)88.56 
Forfeited(31,463)89.72 
Nonvested at March 31, 2026
2,242,007 $58.44 
Performance-based RSUs
Total Number of Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at December 31, 2025178,856 $80.78 
Granted (1)
370,704 41.81 
Vested(9,834)83.31 
Forfeited(6,846)76.69 
Nonvested at March 31, 2026
532,880 $53.67 
(1)    Amount includes increase of 37,946 shares related to the finalization of the performance achievement levels for previously issued grants.
Stock Options
Stock options may be granted to eligible employees at exercise prices equal to the fair market value of our common stock on the dates of grant. Stock options generally have a maximum contractual term of 10 years. Stock options vest after 3 years, and are generally forfeited if the employee terminates service prior to vesting.
The following table summarizes stock option activity for the three months ended March 31, 2026:
Number
of Shares		Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Balance at December 31, 2025262,245 $76.69 9.00$— 
Forfeited(7,899)76.69 — — 
Balance at March 31, 2026
254,346 $76.69 9.00$— 
Additional Disclosures for Stock Options (in millions)
March 31, 2026
Weighted-average grant date fair value of stock options$31.65 
Stock Based Compensation
Stock based compensation expense for stock-based awards made to our employees pursuant to our equity plans were as follows:  
 Three Months Ended March 31,
(in millions)20262025
Cost of providing services$4 $3 
Sales and marketing3 2 
General and administrative8 6 
Systems development and programming costs1 1 
Total stock based compensation expense$16 $13 
Total stock based compensation capitalized$1 $1 
The table below summarizes unrecognized compensation expense as of March 31, 2026 associated with the following:
Amount
(in millions)		Weighted-Average Period (in Years)
Nonvested stock options$5 1.97
Nonvested time based RSUs123 3.23
Nonvested performance based RSUs20 2.35
v3.26.1
STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Common Stock
The following table shows the beginning and ending balances of our issued and outstanding common stock for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
20262025
Shares issued and outstanding, beginning balance47,377,950 49,527,506 
Issuance of common stock from vested restricted stock units
153,802 127,243 
Repurchase of common stock
(1,348,513)(1,210,403)
Awards effectively repurchased for required employee withholding taxes
(57,484)(46,827)
Shares issued and outstanding, ending balance
46,125,755 48,397,519 
Stock Repurchases
As of March 31, 2026, there was $347 million remaining in the total authorization of $3,051 million of our ongoing stock repurchase program.
Dividends
Three Months Ended
March 31,
20262025
Quarterly dividend per common share declared$0.29 $0.275 
Total cash dividends paid (in millions)$13 $12 
v3.26.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
Our ETR was 28% and 26% for the first quarters of 2026 and 2025, respectively. The increase in the rate was primarily attributable to decreases in tax benefits for stock-based compensation and increases in nondeductible compensation.
We are subject to tax in U.S. federal and various state and local jurisdictions, as well as Canada and India. We are open to federal and significant state income tax examinations for tax years 2019 and subsequent years.
v3.26.1
EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic EPS is computed based on the weighted average shares of common stock outstanding during the period. Diluted EPS is computed based on those shares used in the basic EPS computation, plus potentially dilutive shares issuable under our equity-based compensation plans using the treasury stock method. Shares that are potentially anti-dilutive are excluded.
The following table presents the computation of our basic and diluted EPS attributable to our common stock:
 Three Months Ended
March 31,
(in millions, except per share data)20262025
Net income$89 $85 
Weighted average shares of common stock outstanding47 49 
Basic EPS$1.90 $1.72 
Net income$89 $85 
Weighted average shares of common stock outstanding47 49 
Dilutive effect of stock options and restricted stock units— — 
Weighted average shares of common stock outstanding47 49 
Diluted EPS$1.90 $1.71 
Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect
3 2 
v3.26.1
RESTRUCTURING
 3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
During the fourth quarter of 2024, we completed a detailed review of our strategy and made several decisions that would narrow and intensify our focus on our U.S. PEO business. This includes winding down the software-only HRIS product as well as other immaterial products not directly related to our U.S. PEO business. In place of our software-only HRIS product, we now focus our ASO services to include both the software component, but also a significant service component similar to the types of services we provide to PEO clients.
In conjunction with this adjustment to our product offerings, we have implemented changes to our operating expense structure, including reductions to our U.S. staffing and office footprint.

In the first quarter of 2026, we realigned responsibilities within our management structure and reduced our U.S. workforce to better align with our current level of clients and WSEs.
As part of these restructuring initiatives, the Company incurred the charges shown in the following table. These expenses are classified in G&A in our Consolidated statement of income and comprehensive income.
 Three Months Ended
March 31,
(in millions)20262025
Cash restructuring costs:
Severance costs$13 $— 
Professional fees1 — 
Total cash restructuring costs14 — 
Non-cash restructuring costs:
Intangible asset and goodwill impairments— 1 
Total non-cash restructuring costs— 1 
Total restructuring costs$14 $1 
Severance costs include payments to colleagues, estimated reimbursements for COBRA payments and outplacement services. The following table is a summary of changes in accrued severance and exit and disposal costs included within accounts payable and other current liabilities and accrued wages:
(in millions)
Accounts payable and other current liabilities
Accrued wages
Balance at December 31, 2025$1 $10 
(+) Additions— 12 
(-) Payments— (1)
Balance at March 31, 2026
$1 $21 
We expect the restructuring efforts to continue through 2026 and may recognize additional expenses as they are incurred.
v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We operate in one reportable segment. Our chief operating decision maker for segment reporting purposes is our CEO, who uses the profitability and significant expense detail to allocate resources and assess performance based on key functions such as customer acquisition, customer service, and indirect costs.
The primary measure of profit or loss that the CEO uses is net income. The significant expenses used in these profit or loss reports align with the primary functions of the corresponding teams, with the exception of non-cash expenses such as depreciation, amortization and stock-based compensation as these expenses are not necessarily indicative of our ongoing operations. In this expense reporting methodology, overhead-type expenses, such as facilities and technology support for colleagues, are classified consistent with the primary function of the corresponding teams and not allocated to other significant expenses.
The table below provides the primary measure of profitability and detail regarding the significant expenses reviewed by our CEO. Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or stockholders' equity.
 Three Months Ended March 31,
(in millions)20262025
Professional service revenues
$189 $209 
Insurance service revenues
1,023 1,065 
Interest income14 18 
Total revenues
1,226 1,292 
Workers' compensation costs23 23 
Health insurance costs833 919 
Sales & marketing64 62 
Client support costs43 46 
Corporate administration41 38 
System support & development39 44 
Depreciation and amortization of intangible assets
17 17 
Stock based compensation16 13 
Other (1)
14 1 
Interest expense, bank fees and other13 14 
Income taxes34 30 
Net income89 85 
(1) Other includes certain costs that are considered non-recurring such as restructuring costs.
v3.26.1
SUBSEQUENT EVENT
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENT SUBSEQUENT EVENT
On April 8, 2026, we completed the acquisition of Cocoon Financial Services, Inc. (Cocoon), a market leader in leave management technology. The purpose of this acquisition is to enhance our tools related to WSE leave management, including real-time leave tracking, integrated claims filing and streamlined payroll calculations. Total consideration paid for the acquisition was $23 million. We are in the process of completing our purchase price allocation.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Anthony Shea Treadway [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On February 18, 2026, Anthony Shea Treadway, our Chief Revenue Officer, adopted a new written trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (the “Treadway Plan”). The first possible trade date under the Treadway Plan is August 19, 2026, and the end date of the Treadway Plan is August 18, 2027 (subject to customary exceptions), a duration of eighteen months. The Treadway Plan calls for the sale of an amount of shares that Mr. Treadway could receive upon the future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The exact number of shares to be sold pursuant to the Treadway Plan depends on the number of shares to be withheld by us and the amount of any additional equity awards that may be granted and that will vest during the duration of the Treadway Plan, among other factors. For purposes of this disclosure, without taking into account (i) any future equity awards granted under
the company’s equity-based incentive plans (ii) any new shares purchased under the company’s employee stock purchase plan or (iii) the subtraction of any shares to be withheld upon future vesting events, the aggregate number of shares currently expected to be sold pursuant to the Treadway Plan is 26,971.
Name Anthony Shea Treadway
Title Chief Revenue Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 18, 2026
Expiration Date August 18, 2027
Arrangement Duration 546 days
Aggregate Available 26,971
v3.26.1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Segment Information We operate in one reportable segment. All of our service revenues are generated from external clients. Less than 1% of our revenue is generated outside of the U.S.
Basis of Presentation and Basis of Consolidation
These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Rules and Regulations of the Securities and Exchange Commission. The unaudited condensed consolidated financial statements include the accounts of the Company and an entity consolidated under the variable interest model. Intercompany balances and transactions have been eliminated. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, that are normal and recurring in nature, necessary for fair financial statement presentation. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the operating results anticipated for the full year. These financial statements should be read in conjunction with the audited Consolidated Financial Statements included in Part II, Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K for the year ended December 31, 2025. Certain prior year amounts have been reclassified to conform to current period presentation.
Consolidation
These unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Rules and Regulations of the Securities and Exchange Commission. The unaudited condensed consolidated financial statements include the accounts of the Company and an entity consolidated under the variable interest model. Intercompany balances and transactions have been eliminated. Certain information and note disclosures included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, that are normal and recurring in nature, necessary for fair financial statement presentation. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the operating results anticipated for the full year. These financial statements should be read in conjunction with the audited Consolidated Financial Statements included in Part II, Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K for the year ended December 31, 2025. Certain prior year amounts have been reclassified to conform to current period presentation.
Use of Estimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect certain reported amounts and related disclosures.
These estimates are based on historical experience and on various other assumptions that we believe to be reasonable from the facts available to us. Some of the assumptions are highly uncertain at the time of estimation. To the extent actual experience differs from the assumptions used, our condensed consolidated financial statements could be materially affected.
Accrued Health Insurance Costs
We sponsor and administer a number of employee benefit plans for our PEO WSEs, including group health, dental, and vision as an employer plan sponsor under section 3(5) of the ERISA. In the three months ended March 31, 2026, the majority of our group health insurance costs were related to risk-based plans. Our remaining group health insurance costs were for guaranteed-cost policies.
Accrued health insurance costs are established to provide for the estimated unpaid costs of reimbursing the carriers for paying claims within the deductible layer in accordance with risk-based health insurance policies. These accrued costs include estimates for claims incurred but not paid. We assess accrued health insurance costs regularly based upon actuarial studies that include other relevant factors such as current and historical claims payment patterns, plan enrollment and medical trend rates.
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs.
Recently Issued Accounting Pronouncements
Recently issued accounting guidance
Disaggregation of Income Statement Expenses
In December 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Disaggregation of Income Statement Expenses, to enhance the transparency and decision-usefulness of financial reporting by requiring public business entities to provide more detailed disclosures about the components of certain expense captions in their income statements. The ASU is effective for TriNet on a prospective basis for annual periods beginning after December 15, 2026. The Company is currently evaluating the provisions of this ASU.
Internal-Use Software
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (ASU 2025-06) which amends the guidance in ASC 350-40, Intangibles—Goodwill and Other—Internal-Use Software. The amendments modernize the recognition and disclosure framework for internal-use software costs, removing the previous “development stage” model and introducing a more judgment-based approach. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and for interim periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the provisions of this ASU.
v3.26.1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Assets and Liabilities in our Consolidated Balance Sheet
(in millions)March 31, 2026December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents$2 $1 
Restricted cash, cash equivalents and investments53 79 
Total current assets55 80 
Total assets$55 $80 
LIABILITIES
Current liabilities:
Accounts payable and other current liabilities$2 $1 
Accrued wages11 33 
Payroll tax liabilities and other payroll withholdings42 46 
Total current liabilities55 80 
Total liabilities$55 $80 
v3.26.1
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED (Tables)
 3 Months Ended
Mar. 31, 2026
Cash and Cash Equivalents [Abstract]  
Schedule of Cash, Cash Equivalents and Investments
March 31, 2026December 31, 2025
(in millions)Cash and cash equivalentsAvailable-for-sale marketable securitiesTotalCash and cash equivalentsAvailable-for-sale marketable securitiesTotal
Cash and cash equivalents$340 $— $340 $287 $— $287 
Restricted cash, cash equivalents and investments:
Payroll funds collected879 — 879 1,424 — 1,424 
Collateral for health benefits claims37 106 143 37 108 145 
Collateral for workers' compensation claims45 — 45 45 — 45 
Trust for our ASO Users54 — 54 79 — 79 
Other security deposits1 — 1 1 — 1 
Total restricted cash, cash equivalents and investments1,016 106 1,122 1,586 108 1,694 
Restricted cash, cash equivalents and investments, noncurrent
Collateral for workers' compensation claims36 86 122 29 99 128 
Total$1,392 $192 $1,584 $1,902 $207 $2,109 
v3.26.1
INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis
The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of March 31, 2026 and December 31, 2025 and the amortized cost, gross unrealized gains, gross unrealized losses and fair value of our AFS investments:
(in millions)Fair Value LevelAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash and Cash EquivalentsRestricted Cash, Cash Equivalents and Investments
March 31, 2026
Cash equivalents:
Money market mutual fundsLevel 1$198 $— $— $198 $92 $106 
U.S. treasuriesLevel 210 — — 10 — 10 
Total cash equivalents208 — — 20892 116 
AFS Investments:
Corporate bondsLevel 230 — — 30 — 30 
Agency securitiesLevel 211 — — 11 — 11 
U.S. treasuriesLevel 2151 1 (1)151 — 151 
Total AFS Investments$192 $1 $(1)$192 $— $192 
(in millions)Fair Value LevelAmortized CostGross Unrealized GainsGross Unrealized LossesFair ValueCash and Cash EquivalentsRestricted Cash, Cash Equivalents and Investments
December 31, 2025
Cash equivalents:
Money market mutual fundsLevel 1$483 $— $— $483 $96 $387 
U.S. treasuriesLevel 22 — — 2— 2 
Total cash equivalents485 — — 48596 389 
AFS Investments:
Corporate bondsLevel 234 — — 34 — 34 
Agency securitiesLevel 211 — — 11 — 11 
U.S. treasuriesLevel 2160 2 — 162 — 162 
Total AFS Investments$205 $2 $— $207 $— $207 
Schedule of Fair value of Debt Investments by Contractual Maturity
The fair value of debt investments by contractual maturity are shown below:
(in millions)March 31, 2026
One year or less$10 
Over one year through five years177 
Over five years through ten years5 
Total fair value$192 
Schedule of Available-for-Sale Securities
The gross proceeds from sales and maturities of AFS securities and gross realized losses for the three months ended March 31, 2026 and 2025 are presented below. We had immaterial gross realized gains from sales of investments for the three months ended March 31, 2026 and 2025.

Three Months Ended March 31,
(in millions)
2026
2025
Gross realized losses$— $(1)
Gross proceeds from sales37 31 
Gross proceeds from maturities1 3 
v3.26.1
ACCRUED WORKERS' COMPENSATION COSTS (Tables)
 3 Months Ended
Mar. 31, 2026
Insurance [Abstract]  
Schedule of Activities in Liability for Unpaid Claims and Claims Adjustment Expenses
The following table summarizes the accrued workers’ compensation cost activity for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
(in millions)
2026
2025
Total accrued costs, beginning of period$151 $158 
Incurred
Current year15 14 
Prior years(1)(1)
Total incurred14 13 
Paid
Current year— — 
Prior years(9)(11)
Total paid(9)(11)
Total accrued costs, end of period$156 $160 
The following summarizes workers' compensation liabilities on the condensed consolidated balance sheets:
(in millions)
March 31, 2026
December 31, 2025
Total accrued costs, end of period$156 $151 
Collateral paid to carriers and offset against accrued costs(3)(3)
Total accrued costs, net of carrier collateral offset$153 $148 
Payable in less than 1 year
(net of collateral paid to carriers of $1 at March 31, 2026 and December 31, 2025)
$44 $42 
Payable in more than 1 year
(net of collateral paid to carriers of $2 at March 31, 2026 and December 31, 2025)
109 106 
Total accrued costs, net of carrier collateral offset$153 $148 
v3.26.1
STOCK BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU Activity under Equity-Based Plans
The following tables summarize RSU activity for the three months ended March 31, 2026:
Time-based RSUs
Total Number
of Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at December 31, 20251,127,651 $86.55 
Granted1,289,787 37.99 
Vested(143,968)88.56 
Forfeited(31,463)89.72 
Nonvested at March 31, 2026
2,242,007 $58.44 
Performance-based RSUs
Total Number of Shares
Weighted-Average
Grant Date
Fair Value
Nonvested at December 31, 2025178,856 $80.78 
Granted (1)
370,704 41.81 
Vested(9,834)83.31 
Forfeited(6,846)76.69 
Nonvested at March 31, 2026
532,880 $53.67 
(1)    Amount includes increase of 37,946 shares related to the finalization of the performance achievement levels for previously issued grants.
Schedule of Stock Option Activity
The following table summarizes stock option activity for the three months ended March 31, 2026:
Number
of Shares		Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
(in millions)
Balance at December 31, 2025262,245 $76.69 9.00$— 
Forfeited(7,899)76.69 — — 
Balance at March 31, 2026
254,346 $76.69 9.00$— 
Schedule of Share-Based Payment Arrangement, Activity
Additional Disclosures for Stock Options (in millions)
March 31, 2026
Weighted-average grant date fair value of stock options$31.65 
Schedule of Stock-Based Compensation Expense
Stock based compensation expense for stock-based awards made to our employees pursuant to our equity plans were as follows:  
 Three Months Ended March 31,
(in millions)20262025
Cost of providing services$4 $3 
Sales and marketing3 2 
General and administrative8 6 
Systems development and programming costs1 1 
Total stock based compensation expense$16 $13 
Total stock based compensation capitalized$1 $1 
The table below summarizes unrecognized compensation expense as of March 31, 2026 associated with the following:
Amount
(in millions)		Weighted-Average Period (in Years)
Nonvested stock options$5 1.97
Nonvested time based RSUs123 3.23
Nonvested performance based RSUs20 2.35
v3.26.1
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Schedule of Issued and Outstanding Common Stock
The following table shows the beginning and ending balances of our issued and outstanding common stock for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31,
20262025
Shares issued and outstanding, beginning balance47,377,950 49,527,506 
Issuance of common stock from vested restricted stock units
153,802 127,243 
Repurchase of common stock
(1,348,513)(1,210,403)
Awards effectively repurchased for required employee withholding taxes
(57,484)(46,827)
Shares issued and outstanding, ending balance
46,125,755 48,397,519 
Schedule of Dividends Payable
Three Months Ended
March 31,
20262025
Quarterly dividend per common share declared$0.29 $0.275 
Total cash dividends paid (in millions)$13 $12 
v3.26.1
EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted EPS Attributable to Common Stock
The following table presents the computation of our basic and diluted EPS attributable to our common stock:
 Three Months Ended
March 31,
(in millions, except per share data)20262025
Net income$89 $85 
Weighted average shares of common stock outstanding47 49 
Basic EPS$1.90 $1.72 
Net income$89 $85 
Weighted average shares of common stock outstanding47 49 
Dilutive effect of stock options and restricted stock units— — 
Weighted average shares of common stock outstanding47 49 
Diluted EPS$1.90 $1.71 
Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect
3 2 
v3.26.1
RESTRUCTURING (Tables)
 3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Components of Restructuring Expenses
As part of these restructuring initiatives, the Company incurred the charges shown in the following table. These expenses are classified in G&A in our Consolidated statement of income and comprehensive income.
 Three Months Ended
March 31,
(in millions)20262025
Cash restructuring costs:
Severance costs$13 $— 
Professional fees1 — 
Total cash restructuring costs14 — 
Non-cash restructuring costs:
Intangible asset and goodwill impairments— 1 
Total non-cash restructuring costs— 1 
Total restructuring costs$14 $1 
Schedule of Changes in Accrued Severance and Exit and Disposal Costs The following table is a summary of changes in accrued severance and exit and disposal costs included within accounts payable and other current liabilities and accrued wages:
(in millions)
Accounts payable and other current liabilities
Accrued wages
Balance at December 31, 2025$1 $10 
(+) Additions— 12 
(-) Payments— (1)
Balance at March 31, 2026
$1 $21 
v3.26.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The table below provides the primary measure of profitability and detail regarding the significant expenses reviewed by our CEO. Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or stockholders' equity.
 Three Months Ended March 31,
(in millions)20262025
Professional service revenues
$189 $209 
Insurance service revenues
1,023 1,065 
Interest income14 18 
Total revenues
1,226 1,292 
Workers' compensation costs23 23 
Health insurance costs833 919 
Sales & marketing64 62 
Client support costs43 46 
Corporate administration41 38 
System support & development39 44 
Depreciation and amortization of intangible assets
17 17 
Stock based compensation16 13 
Other (1)
14 1 
Interest expense, bank fees and other13 14 
Income taxes34 30 
Net income89 85 
(1) Other includes certain costs that are considered non-recurring such as restructuring costs.
v3.26.1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
segment
Dec. 31, 2025
USD ($)
Product Information [Line Items]    
Number of reportable segments | segment 1  
Prepayments offsetting accrued health insurance costs $ 66 $ 62
ERTC receivables 334 384
ERTC distributed 22 19
Health Care    
Product Information [Line Items]    
Prepayments offsetting accrued health insurance costs $ 81 $ 87
Non-US | Revenue | Foreign Sales    
Product Information [Line Items]    
Percent of concentration risk (less than) 1.00%  
v3.26.1
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES - Schedule of Assets and Liabilities of the Trust (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 340 $ 287
Restricted cash, cash equivalents and investments 1,122 1,694
Total current assets 2,484 2,868
Total assets 3,420 3,797
Current liabilities:    
Accounts payable and other current liabilities 89 86
Accrued wages 542 555
Payroll tax liabilities and other payroll withholdings 1,289 1,671
Total current liabilities 2,226 2,637
Total liabilities 3,337 3,743
TriNet Trust    
Current assets:    
Cash and cash equivalents 2 1
Restricted cash, cash equivalents and investments   79
Total current assets 55 80
Total assets 55 80
Current liabilities:    
Accounts payable and other current liabilities 2 1
Accrued wages 11 33
Payroll tax liabilities and other payroll withholdings 42 46
Total current liabilities 55 80
Total liabilities $ 55 $ 80
v3.26.1
CASH, CASH EQUIVALENTS AND INVESTMENTS - UNRESTRICTED AND RESTRICTED (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Restricted Cash and Cash Equivalent Item [Line Items]    
Cash and cash equivalents $ 340 $ 287
Total restricted cash, cash equivalents and investments 1,122 1,694
Collateral for workers' compensation claims 122 128
Total 1,584 2,109
Payroll funds collected    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 879 1,424
Collateral for health benefits claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 143 145
Trust for our ASO Users    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 54 79
Other security deposits    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 1 1
Collateral for workers' compensation claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 45 45
Collateral for workers' compensation claims 122 128
Cash and cash equivalents    
Restricted Cash and Cash Equivalent Item [Line Items]    
Cash and cash equivalents 340 287
Total restricted cash, cash equivalents and investments 1,016 1,586
Total 1,392 1,902
Cash and cash equivalents | Payroll funds collected    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 879 1,424
Cash and cash equivalents | Collateral for health benefits claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 37 37
Cash and cash equivalents | Trust for our ASO Users    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 54 79
Cash and cash equivalents | Other security deposits    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 1 1
Cash and cash equivalents | Collateral for workers' compensation claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 45 45
Collateral for workers' compensation claims 36 29
Available-for-sale marketable securities    
Restricted Cash and Cash Equivalent Item [Line Items]    
Cash and cash equivalents 0 0
Total restricted cash, cash equivalents and investments 106 108
Total 192 207
Available-for-sale marketable securities | Payroll funds collected    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 0 0
Available-for-sale marketable securities | Collateral for health benefits claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 106 108
Available-for-sale marketable securities | Trust for our ASO Users    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 0 0
Available-for-sale marketable securities | Other security deposits    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 0 0
Available-for-sale marketable securities | Collateral for workers' compensation claims    
Restricted Cash and Cash Equivalent Item [Line Items]    
Total restricted cash, cash equivalents and investments 0 0
Collateral for workers' compensation claims $ 86 $ 99
v3.26.1
INVESTMENTS - Schedule of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis (Details) - Fair Value Measurement on a Recurring Basis - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Debt Securities    
Cash equivalents: $ 208 $ 485
Amortized Cost 192 205
Gross Unrealized Gains 1 2
Gross Unrealized Losses (1) 0
Fair Value 192 207
Cash and Cash Equivalents    
Debt Securities    
Cash equivalents: 92 96
Fair Value 0 0
Restricted Cash, Cash Equivalents and Investments    
Debt Securities    
Cash equivalents: 116 389
Fair Value 192 207
Level 2 | Corporate bonds    
Debt Securities    
Amortized Cost 30 34
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 30 34
Level 2 | Agency securities    
Debt Securities    
Amortized Cost 11 11
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 11 11
Level 2 | U.S. treasuries    
Debt Securities    
Amortized Cost 151 160
Gross Unrealized Gains 1 2
Gross Unrealized Losses (1) 0
Fair Value 151 162
Level 2 | Cash and Cash Equivalents | Corporate bonds    
Debt Securities    
Fair Value 0 0
Level 2 | Cash and Cash Equivalents | Agency securities    
Debt Securities    
Fair Value 0 0
Level 2 | Cash and Cash Equivalents | U.S. treasuries    
Debt Securities    
Fair Value 0 0
Level 2 | Restricted Cash, Cash Equivalents and Investments | Corporate bonds    
Debt Securities    
Fair Value 30 34
Level 2 | Restricted Cash, Cash Equivalents and Investments | Agency securities    
Debt Securities    
Fair Value 11 11
Level 2 | Restricted Cash, Cash Equivalents and Investments | U.S. treasuries    
Debt Securities    
Fair Value 151 162
Money market mutual funds | Level 1    
Debt Securities    
Cash equivalents: 198 483
Money market mutual funds | Level 1 | Cash and Cash Equivalents    
Debt Securities    
Cash equivalents: 92 96
Money market mutual funds | Level 1 | Restricted Cash, Cash Equivalents and Investments    
Debt Securities    
Cash equivalents: 106 387
U.S. treasuries | Level 2    
Debt Securities    
Cash equivalents: 10 2
U.S. treasuries | Level 2 | Cash and Cash Equivalents    
Debt Securities    
Cash equivalents: 0 0
U.S. treasuries | Level 2 | Restricted Cash, Cash Equivalents and Investments    
Debt Securities    
Cash equivalents: $ 10 $ 2
v3.26.1
INVESTMENTS - Schedule of Fair value of Debt Investments by Contractual Maturity (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Investments, Debt and Equity Securities [Abstract]  
One year or less $ 10
Over one year through five years 177
Over five years through ten years 5
Total fair value $ 192
v3.26.1
INVESTMENTS - Schedule of Available-for-Sale Securities (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
AFS securities, gross realized gain (loss) $ 0 $ 0
Gross realized losses 0 (1)
Gross proceeds from sales 37 31
Gross proceeds from maturities $ 1 $ 3
v3.26.1
INVESTMENTS - Additional Information (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
2029 Notes    
Debt Securities, Available-for-sale [Line Items]    
Fair value of notes payable $ 453 $ 473
2031 Notes    
Debt Securities, Available-for-sale [Line Items]    
Fair value of notes payable $ 389 $ 414
v3.26.1
ACCRUED WORKERS' COMPENSATION COSTS - Schedule of Workers' Compensation Cost Activity (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]    
Total accrued costs, beginning of period $ 151 $ 158
Incurred    
Current year 15 14
Prior years (1) (1)
Total incurred 14 13
Paid    
Current year 0 0
Prior years (9) (11)
Total paid (9) (11)
Total accrued costs, end of period $ 156 $ 160
v3.26.1
ACCRUED WORKERS' COMPENSATION COSTS - Schedule of Workers' Compensation Liabilities (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Insurance [Abstract]        
Total accrued costs, end of period $ 156 $ 151 $ 160 $ 158
Collateral paid to carriers and offset against accrued costs (3) (3)    
Total accrued costs, net of carrier collateral offset 153 148    
Payable in less than 1 year (net of collateral paid to carriers) 44 42    
Payable in more than 1 year (net of collateral paid to carriers) 109 106    
Collateral paid, current 1 1    
Collateral paid, noncurrent $ 2 $ 2    
v3.26.1
ACCRUED WORKERS' COMPENSATION COSTS - Additional Information (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Insurance [Abstract]    
Collateral held by insurance carriers $ 25 $ 25
Collateral paid to carriers and offset against loss reserves $ 3 $ 3
v3.26.1
STOCK BASED COMPENSATION - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
Time-Based Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period (in years) 4 years
Time-Based Restricted Stock Units | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Percent of share value 0.00%
Time-Based Restricted Stock Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Percent of share value 200.00%
Performance-Based RSUs and RSAs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Performance period for 2026 and 2025 awards 1 year
Performance-Based Restricted Stock Units | Share-based Payment Arrangement, Tranche One  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period (in years) 1 year
Amount of shares that are expected to vesting percentage 50.00%
Employee Stock Option  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period (in years) 3 years
Employee Stock Option | Maximum | Common Class A  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based payment award, expiration period (in years) 10 years
v3.26.1
STOCK BASED COMPENSATION - Schedule of RSU Activity (Details) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Total Number of Shares    
Vested (in shares) (153,802) (127,243)
Time-Based Restricted Stock Units    
Total Number of Shares    
Beginning balance (in shares) 1,127,651  
Granted (in shares) 1,289,787  
Vested (in shares) (143,968)  
Forfeited (in shares) (31,463)  
Ending balance (in shares) 2,242,007  
Weighted-Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 86.55  
Granted (in dollars per share) 37.99  
Vested (in dollars per share) 88.56  
Forfeited (in dollars per share) 89.72  
Ending balance (in dollars per share) $ 58.44  
Performance-Based Restricted Stock Units    
Total Number of Shares    
Beginning balance (in shares) 178,856  
Granted (in shares) 370,704  
Vested (in shares) (9,834)  
Forfeited (in shares) (6,846)  
Ending balance (in shares) 532,880  
Weighted-Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 80.78  
Granted (in dollars per share) 41.81  
Vested (in dollars per share) 83.31  
Forfeited (in dollars per share) 76.69  
Ending balance (in dollars per share) $ 53.67  
Reduction of finalized shares (in shares) 37,946  
v3.26.1
STOCK BASED COMPENSATION - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Number of Shares    
Beginning balance (in shares) 262,245  
Forfeited (in shares) (7,899)  
Ending balance (in shares) 254,346 262,245
Weighted Average Exercise Price    
Beginning balance (in dollars per share) $ 76.69  
Forfeited (in dollars per share) 76.69  
Ending balance (in dollars per share) $ 76.69 $ 76.69
Weighted
Average
Remaining
Contractual
Term (in years)    
Beginning balance weighted
average
remaining
contractual
term (in years) 9 years 9 years
Ending balance weighted
average
remaining
contractual
term (in years) 9 years 9 years
Aggregate Intrinsic Value    
Beginning balance $ 0  
Forfeited 0  
Ending balance $ 0 $ 0
v3.26.1
STOCK BASED COMPENSATION - Schedule of Share-Based Payment Arrangement, Activity (Details)
 3 Months Ended
Mar. 31, 2026
$ / shares
Share-Based Payment Arrangement [Abstract]  
Weighted-average grant date fair value of stock options (in dollars per share) $ 31.65
v3.26.1
STOCK BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock based compensation expense $ 16 $ 13
Total stock based compensation capitalized 1 1
Cost of providing services    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock based compensation expense 4 3
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock based compensation expense 3 2
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock based compensation expense 8 6
Systems development and programming costs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock based compensation expense $ 1 $ 1
v3.26.1
STOCK BASED COMPENSATION - Schedule of Unrecognized Compensation Expense (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
Additional Disclosures for equity-based plans  
Unrecognized compensation expense of nonvested stock options, net of forfeitures $ 5
Unrecognized compensation expense, expected to be recognized over a weighted-average period (in years) 1 year 11 months 19 days
Time based RSUs  
Additional Disclosures for equity-based plans  
Unrecognized compensation expense of nonvested awards other than options, net of forfeitures $ 123
Unrecognized compensation expense, expected to be recognized over a weighted-average period (in years) 3 years 2 months 23 days
Performance based RSUs  
Additional Disclosures for equity-based plans  
Unrecognized compensation expense of nonvested awards other than options, net of forfeitures $ 20
Unrecognized compensation expense, expected to be recognized over a weighted-average period (in years) 2 years 4 months 6 days
v3.26.1
STOCKHOLDERS' EQUITY - Schedule of Common Stock (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Shares issued, beginning balance (in shares) 47,377,950 49,527,506
Shares outstanding, beginning balance (in shares) 47,377,950 49,527,506
Issuance of common stock from vested restricted stock units (in shares) 153,802 127,243
Repurchase of common stock (in shares) (1,348,513) (1,210,403)
Awards effectively repurchased for required employee withholding taxes (in shares) (57,484) (46,827)
Shares issued, ending balance (in shares) 46,125,755 48,397,519
Shares outstanding, ending balance (in shares) 46,125,755 48,397,519
v3.26.1
STOCKHOLDERS' EQUITY - Additional Information (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Equity [Abstract]  
Stock repurchase program, remaining authorized repurchase amount $ 347
Stock repurchase program, authorized amount $ 3,051
v3.26.1
STOCKHOLDERS' EQUITY - Schedule of Dividends Payable (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Equity [Abstract]    
Dividends paid (in dollars per share) $ 0.29 $ 0.275
Total cash dividends paid (in millions) $ 13 $ 12
v3.26.1
INCOME TAXES (Details)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]    
Effective income tax rate 28.00% 26.00%
v3.26.1
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings Per Share [Abstract]    
Net income $ 89 $ 85
Weighted average shares of common stock outstanding (in shares) 47 49
Basic EPS (in dollars per share) $ 1.90 $ 1.72
Net income $ 89 $ 85
Dilutive effect of stock options and restricted stock units (in shares) 0 0
Weighted average shares of common stock outstanding - diluted (in shares) 47 49
Diluted EPS (in dollars per share) $ 1.90 $ 1.71
Common stock equivalents excluded from income per diluted share because of their anti-dilutive effect (in shares) 3 2
v3.26.1
RESTRUCTURING - Schedule of Components of Restructuring Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash restructuring costs:    
Severance costs $ 13 $ 0
Professional fees 1 0
Total cash restructuring costs 14 0
Non-cash restructuring costs:    
Intangible asset and goodwill impairments 0 1
Total non-cash restructuring costs 0 1
Total restructuring costs $ 14 $ 1
v3.26.1
RESTRUCTURING - Schedule of Changes in Accrued Severance and Exit and Disposal Costs (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Restructuring Reserve [Roll Forward]      
Restructuring balance $ 14 $ 0  
Accounts payable and other current liabilities      
Restructuring Reserve [Roll Forward]      
Restructuring balance 1   $ 1
(+) Additions 0    
(-) Payments 0    
Accrued wages      
Restructuring Reserve [Roll Forward]      
Restructuring balance 21   $ 10
(+) Additions 12    
(-) Payments $ (1)    
v3.26.1
SEGMENT INFORMATION - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.26.1
SEGMENT INFORMATION - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting Information [Line Items]    
Interest income $ 14 $ 18
Total revenues 1,226 1,292
Depreciation and amortization of intangible assets 17 17
Stock based compensation 16 13
Interest expense, bank fees and other 13 14
Income taxes 34 30
Net income 89 85
Reportable Segment    
Segment Reporting Information [Line Items]    
Interest income 14 18
Total revenues 1,226 1,292
Workers' compensation costs 23 23
Health insurance costs 833 919
Sales & marketing 64 62
Client support costs 43 46
Corporate administration 41 38
System support & development 39 44
Depreciation and amortization of intangible assets 17 17
Stock based compensation 16 13
Other 14 1
Interest expense, bank fees and other 13 14
Income taxes 34 30
Net income 89 85
Professional service revenues    
Segment Reporting Information [Line Items]    
Service revenues 189 209
Professional service revenues | Reportable Segment    
Segment Reporting Information [Line Items]    
Service revenues 189 209
Insurance service revenues    
Segment Reporting Information [Line Items]    
Service revenues 1,023 1,065
Insurance service revenues | Reportable Segment    
Segment Reporting Information [Line Items]    
Service revenues $ 1,023 $ 1,065
v3.26.1
SUBSEQUENT EVENT (Details)
$ in Millions
Apr. 08, 2026
USD ($)
Cocoon Financial Services, Inc. | Subsequent Event  
Subsequent Event [Line Items]  
Total purchase price $ 23