CBIZ, Inc. (CBZ) Financial Statements (2024 and earlier)

Company Profile

Business Address 6801 BRECKSVILLE ROAD
INDEPENDENCE, OH 44131
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7389 - Business Services, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,6971,9974,652567640424
Cash and cash equivalents4,6971,9974,652567640424
Restricted cash and investments28,48730,38323,95129,59527,48132,985
Receivables334,498242,168216,175222,031207,287189,113
Funds held for clients171,313157,909167,440179,502161,289203,112
Other current assets29,43119,21724,21324,32526,84122,539
Total current assets:568,426451,674436,431456,020423,538448,173
Noncurrent Assets
Operating lease, right-of-use asset184,043151,145147,843140,831
Property, plant and equipment45,18443,42341,34639,41234,20526,081
Long-term investments and receivables      620
Accounts and financing receivable, after allowance for credit loss      620
Intangible assets, net (including goodwill)951,702840,783756,750654,671637,009613,206
Goodwill 819,917740,743683,083588,213564,300528,424
Intangible assets, net (excluding goodwill) 131,785100,04073,66766,45872,70984,782
Other undisclosed intangible assets, net (including goodwill)      
Deferred costs118,862136,321127,332106,85184,43585,589
Other noncurrent assets10,9074,5884,0522,9893,8442,562
Total noncurrent assets:1,310,6981,176,2601,077,323944,754759,493728,058
TOTAL ASSETS:1,879,1241,627,9341,513,7541,400,7741,183,0311,176,231
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities212,788181,460146,885128,465123,04796,639
Taxes payable1,6712,78857464 
Employee-related liabilities114,03279,97859,89863,95345,264
Accounts payable80,72565,75764,11968,51058,63051,375
Accrued liabilities132,063     
Debt    29,030 1,861
Business combination, contingent consideration, liability63,26234,37320,28816,19322,53815,151
Other liabilities26,53218,75513,62913,21813,65617,013
Other undisclosed current liabilities209,825188,701197,472179,020162,073203,582
Total current liabilities:512,407423,289378,274365,926321,314334,246
Noncurrent Liabilities
Long-term debt and lease obligation263,654300,659249,212236,351133,974177,672
Long-term debt, excluding current maturities263,654154,851107,192104,333133,974177,672
Liabilities, other than long-term debt389,611199,438183,648127,539134,080131,270
Accounts payable and accrued liabilities2,2111,7271,7753,0533,4024,454
Deferred compensation liability, classified118,862136,321127,332106,85184,43585,589
Deferred tax liabilities, net6,7643,339
Deferred income tax liabilities24,76315,4408,752 
Other liabilities5731,18411,6861,73922,30915,465
Operating lease, liability174,454145,808142,020132,018
Business combination, contingent consideration, liability68,74844,76634,10315,89617,17022,423
Other undisclosed noncurrent liabilities    11,720 2,164
Total noncurrent liabilities:653,265500,097432,860375,610268,054311,106
Total liabilities:1,165,672923,386811,134741,536589,368645,352
Equity
Equity, attributable to parent713,452704,548702,620659,238593,663530,879
Common stock1,3631,3521,3411,3311,3141,301
Treasury stock, value(824,778)(694,716)(595,297)(535,693)(508,530)(491,046)
Additional paid in capital799,147770,117740,970714,704692,398675,504
Accumulated other comprehensive income (loss)3,604(967)(2,269)(680)(482)(182)
Retained earnings734,116628,762557,875479,576408,963345,302
Total equity:713,452704,548702,620659,238593,663530,879
TOTAL LIABILITIES AND EQUITY:1,879,1241,627,9341,513,7541,400,7741,183,0311,176,231

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,411,9791,104,925963,897948,424922,003855,340
Financial services revenue156,400
Cost of revenue(1,188,612)(945,635)(825,351)(823,496)(790,283)(755,584)
Gross profit:223,367159,290138,546124,928131,72099,756
Operating expenses(55,023)(86,618)(46,066)(44,406)(39,173)(33,295)
Operating income:168,34472,67292,48080,52292,54766,461
Nonoperating income (expense)(26,851)20,36811,00812,367(12,707)7,859
Investment income, nonoperating4135,995(509)4171,02545
Other nonoperating income (expense)(19,225)18,24116,50017,715(7,087)14,489
Interest and debt expense(8,039)(3,868)(4,983)(5,765)(6,645)(6,675)
Other undisclosed income from continuing operations before equity method investments, income taxes    5,7656,6456,675
Income from continuing operations before equity method investments, income taxes:133,45489,17298,50592,88979,84074,320
Other undisclosed income from continuing operations before income taxes8,0393,8684,983   
Income from continuing operations before income taxes:141,49393,040103,48892,88979,84074,320
Income tax expense(36,121)(22,129)(25,141)(21,840)(18,267)(23,288)
Income from continuing operations:105,37270,91178,34771,04961,57351,032
Income before gain (loss) on sale of properties:70,91178,34771,15761,57250,377
Income (loss) from discontinued operations    108(1)(655)
Other undisclosed net loss    (443)(2) 
Net income:105,37270,91178,34770,71461,57050,377
Other undisclosed net loss attributable to parent(18)(24)(48)   
Net income available to common stockholders, diluted:105,35470,88778,29970,71461,57050,377

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:105,37270,91178,34770,71461,57050,377
Other comprehensive income (loss)(1,965)(577)494 (300)322
Comprehensive income:103,40770,33478,84170,71461,27050,699
Other undisclosed comprehensive income (loss), net of tax, attributable to parent6,5181,855(2,131)(299)  
Comprehensive income, net of tax, attributable to parent:109,92572,18976,71070,41561,27050,699

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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