TriNet Group, Inc. (TNET) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
ONE PARK PLACE., SUITE 600 DUBLIN, CA 94568 |
| 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 millions)
| 12/31/2023 | 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 investments | 430 | 747 | 358 | 281 | 282 | 336 | |||
| Cash and cash equivalents | 354 | 612 | 301 | 213 | 228 | 336 | |||
| Short-term investments | 76 | 135 | 57 | 68 | 54 | ||||
| Restricted cash and investments | 1,263 | 1,195 | 1,388 | 1,180 | 942 | 170 | |||
| Receivables | 19 | 15 | 18 | 9 | 315 | ||||
| Prepaid expense | 71 | 67 | 63 | 52 | 48 | 8 | |||
| Contract with customer, asset, after allowance for credit loss | 375 | 324 | 246 | 285 | ✕ | ||||
| Other current assets | 46 | 91 | 87 | 64 | 59 | 2 | |||
| Other undisclosed current assets | 122 | 1,475 | |||||||
| Total current assets: | 2,326 | 2,439 | 2,160 | 1,871 | 1,646 | 1,991 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 31 | 42 | 51 | 55 | ✕ | ✕ | |||
| Property, plant and equipment | 24 | 79 | 79 | 85 | 79 | 70 | |||
| Long-term investments and receivables | 151 | 168 | 138 | 125 | 135 | ||||
| Long-term investments | 151 | 168 | 138 | 125 | 135 | ||||
| Intangible assets, net (including goodwill) | 625 | 300 | 312 | 304 | 310 | 315 | |||
| Goodwill | 462 | 294 | 294 | 289 | 289 | 289 | |||
| Intangible assets, net (excluding goodwill) | 163 | 6 | 18 | 15 | 21 | 26 | |||
| Restricted cash and investments | 153 | 166 | 210 | 212 | 187 | 162 | |||
| Other noncurrent assets | 133 | 115 | 93 | 96 | 78 | 14 | |||
| Other undisclosed noncurrent assets | 41 | ||||||||
| Total noncurrent assets: | 1,117 | 870 | 883 | 877 | 789 | 602 | |||
| TOTAL ASSETS: | 3,443 | 3,309 | 3,043 | 2,748 | 2,435 | 2,593 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 491 | 424 | 368 | 452 | 1,148 | 85 | |||
| Employee-related liabilities | ✕ | ✕ | 424 | 368 | 452 | 1,148 | 40 | ||
| Accounts payable | 45 | ||||||||
| Accrued liabilities | 491 | ||||||||
| Deferred revenue | 106 | 97 | 134 | ✕ | ✕ | ||||
| Debt | 22 | 39 | 22 | 40 | |||||
| Other liabilities | 14 | ||||||||
| Other undisclosed current liabilities | 1,391 | 1,218 | 1,346 | 1,152 | 255 | 1,618 | |||
| Total current liabilities: | 1,988 | 1,739 | 1,870 | 1,643 | 1,425 | 1,757 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 496 | 536 | 397 | 417 | 391 | 383 | |||
| Long-term debt, excluding current maturities | 496 | 495 | 348 | 369 | 391 | 383 | |||
| Liabilities, other than long-term debt | 184 | 153 | 169 | 213 | 176 | 179 | |||
| Accounts payable and accrued liabilities | 128 | 135 | 138 | 144 | 158 | 165 | |||
| Deferred income tax liabilities | 8 | 11 | 22 | 61 | ✕ | ✕ | |||
| Other liabilities | 7 | 7 | 9 | 8 | 18 | 14 | |||
| Operating lease, liability | 41 | 41 | 49 | 48 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 68 | 68 | |||||||
| Total noncurrent liabilities: | 680 | 689 | 566 | 630 | 635 | 630 | |||
| Total liabilities: | 2,668 | 2,428 | 2,436 | 2,273 | 2,060 | 2,387 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 775 | 881 | 607 | 475 | 375 | 206 | |||
| Accumulated other comprehensive income (loss) | (5) | (1) | 4 | ||||||
| Retained earnings (accumulated deficit) | (119) | 74 | (144) | (219) | (266) | (377) | |||
| Other undisclosed equity, attributable to parent | 899 | 808 | 747 | 694 | 641 | 583 | |||
| Total equity: | 775 | 881 | 607 | 475 | 375 | 206 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,443 | 3,309 | 3,043 | 2,748 | 2,435 | 2,593 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,885 | 4,540 | 4,034 | 3,856 | 3,503 | 3,275 | ||
| Cost of revenue | (3,647) | (3,563) | (3,216) | (3,156) | (2,833) | (2,722) | ||
| Cost of goods and services sold | (3,527) | (3,393) | (3,026) | (291) | (2,650) | (2,679) | ||
| Gross profit: | 1,238 | 977 | 818 | 700 | 670 | 553 | ||
| Operating expenses | (739) | (522) | (450) | (432) | (419) | (336) | ||
| Operating income: | 499 | 455 | 368 | 268 | 251 | 217 | ||
| Nonoperating income (Other Nonoperating income) | 3 | |||||||
| Interest and debt expense | (39) | (20) | (21) | (21) | (22) | (20) | ||
| Income from continuing operations before equity method investments, income taxes: | 460 | 435 | 347 | 247 | 229 | 200 | ||
| Other undisclosed income from continuing operations before income taxes | 22 | 6 | 10 | 23 | 12 | |||
| Income from continuing operations before income taxes: | 482 | 441 | 357 | 270 | 241 | 200 | ||
| Income tax expense | (127) | (103) | (85) | (58) | (49) | (22) | ||
| Income from continuing operations: | 355 | 338 | 272 | 212 | 192 | 178 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | 338 | 272 | 212 | 192 | 178 | |
| Net income available to common stockholders, diluted: | 355 | 338 | 272 | 212 | 192 | 178 | ||
Comprehensive Income ($ in millions)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 355 | 338 | 272 | 212 | 192 | 178 | ||
| Comprehensive income: | 355 | 338 | 272 | 212 | 192 | 178 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (4) | (5) | 4 | |||||
| Comprehensive income, net of tax, attributable to parent: | 351 | 333 | 276 | 212 | 192 | 178 | ||
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.