Insperity, inc. (NSP)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities
Net income

62,092

20,395

25,859

28,556

76,289

24,655

36,207

24,560

49,991

15,554

19,202

14,018

35,628

9,520

14,065

9,713

32,693

6,339

11,950

7,314

13,787

8,164

8,385

1,891

9,564

5,289

10,082

3,488

13,173

9,445

11,452

5,621

13,884

10,844

4,099

6,741

8,786

7,789

7,234

5,118

2,299

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

7,602

7,794

7,330

6,908

6,691

6,507

5,642

5,480

5,213

4,827

4,696

4,405

4,254

4,150

4,047

4,176

4,271

4,203

4,487

4,590

5,285

5,560

5,302

5,291

5,234

5,372

5,315

5,242

5,135

4,935

4,663

4,440

4,212

3,883

3,789

3,598

3,948

3,684

3,699

3,740

3,827

Impairment charges and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,320

9,800

-

0

2,485

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-19

-

-

-

-31

-103

-104

-313

-316

-417

-468

-496

-510

-522

-568

-588

-441

-468

-548

-622

-657

-637

-550

-478

-507

-502

-508

-392

-248

Stock-based compensation

6,552

3,187

6,517

8,256

6,040

5,744

5,769

5,752

3,135

7,910

6,584

5,303

4,503

4,116

4,191

4,761

3,575

3,171

3,710

4,041

2,423

2,707

2,701

3,245

2,400

2,752

2,749

3,292

2,310

2,429

2,429

2,801

2,155

2,146

2,109

2,556

1,790

1,978

1,970

2,410

1,768

Deferred income taxes

12,560

-3,799

399

-411

8,671

-3,942

-336

-7,371

7,116

3,922

-2,645

4,737

3,728

-4,254

-2,209

4,436

4,978

-6,829

-2,654

-10,844

5,594

-6,032

-476

-1,612

6,387

-5,438

869

-971

3,252

-8,002

1,258

-4,340

5,341

50

-1,475

-633

2,012

-513

-2,881

2,017

2,556

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

553

945

2,863

-5,638

-5,831

3,735

1,112

-13,182

3,781

1,279

234

1,611

2,850

93

225

1,080

1,489

-488

331

1,925

1,481

524

-397

1,543

1,917

1,508

-200

Accounts receivable

54,966

-18,111

59,755

2,838

20,674

622

48,247

15,206

2,567

31,690

40,722

-2,566

-6,149

28,875

-3,603

9,644

34,703

-72,756

7,790

5,853

84,662

-69,698

21,919

496

12,390

-8,953

18,558

-796

10,814

-12,722

26,680

467

5,028

8,595

27,249

-20,973

13,955

-9,791

-25,785

5,063

49,387

Prepaid insurance

35,107

-11,743

-2,308

-459

16,517

-5,344

-3,893

-18,031

24,897

-8,196

-8,092

11,973

56

-2,555

-8,949

14,991

4,137

-12,760

3,718

-20,201

15,359

-9,312

5,800

-9,980

24,155

-6,711

-393

855

1,267

-8,119

5,587

-6,510

3,362

6,118

-9,341

138

-593

9,209

-6,150

11,016

-3,581

Other current assets

-3,068

17,055

-3,356

-6,820

8,893

3,447

1,634

-5,753

1,402

7,731

1,267

-5,076

3,543

1,100

-128

-9,894

11,313

1,879

-266

-5,559

3,432

4,798

-225

-6,152

7,175

1,956

713

-4,375

4,108

1,518

0

-3,396

41

523

1,122

-2,198

3,415

-86

438

-2,441

4,230

Other assets

-3,403

314

676

1,224

809

245

-197

5

1,952

-699

820

-5,266

7,641

1,583

4,038

-7,960

3,804

15,242

9,963

-4,778

1,642

20,252

3,647

5,150

2,964

6,685

5,708

2,589

3,109

6,618

1,382

1,421

3,570

5,528

1,033

-7,874

1,965

4,170

1,418

-12,908

3,140

Accounts payable

1,675

-808

-1,175

-1,306

-2,768

5,306

1,193

-1,394

-930

3,377

-62

-1,410

353

155

488

-1,667

-168

2,768

230

-678

-1,613

1,419

1,434

-770

-87

-633

706

403

-1,458

572

215

-564

-1,648

2,426

235

-204

-681

1,115

551

-542

12

Payroll taxes and other payroll deductions payable

-9,003

96,631

-64,077

-63,368

46,896

57,080

-9,346

-63,141

-26,674

117,791

-4,484

-59,907

2,081

85,690

20,863

-61,142

-3,038

89,136

-6,618

-53,792

326

71,315

-4,138

-54,821

-1,619

63,316

-27,394

-53,829

4,977

70,626

-14,642

-55,401

9,339

64,448

5,994

-53,353

6,467

65,694

1,299

-40,939

-8,555

Accrued worksite employee payroll expense

34,905

-9,598

37,925

9,670

33,883

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued health insurance costs

25,661

-12,059

12,863

-25,456

10,679

1,695

9,331

-22,668

20,720

-8,468

7,964

2,536

-2,317

5,653

-6,213

19,183

-5,906

982

6,377

-19,305

7,260

-8,022

5,027

-4,384

20,605

-1,721

1,550

-2,210

-6,458

-8,580

12,654

668

-227

4,218

-7,216

-4,865

1,871

5,004

-514

-685

5,240

Accrued workers’ compensation costs

3,467

7,160

3,954

766

1,367

4,358

9,479

3,832

6,094

3,765

7,348

7,277

5,555

5,551

996

6,415

8,761

5,913

8,107

6,779

5,360

5,238

4,695

3,035

2,837

4,987

2,031

379

418

2,187

2,849

1,835

547

2,778

1,163

2,521

2,329

2,549

1,715

3,282

1,202

Accrued corporate payroll, commissions and other accrued liabilities

-46,531

29,189

48

778

-23,656

20,828

3,296

-29,255

14,072

-24,350

28,146

11,368

1,974

12,712

-74,874

9,720

105,739

-90,049

23,875

4,527

31,168

-18,632

22,388

1,329

13,510

-10,341

11,913

3,514

18,645

-24,194

29,379

45

14,523

-471

-40,288

4,816

56,563

-53,756

10,766

2,531

57,018

Accrued corporate payroll, commissions and other accrued liabilities

-

-

-

-

-

-

-

-

-24,854

-

4,335

8,848

-20,822

12,693

2,084

-2,162

-9,465

2,936

8,518

124

-7,473

5,606

12,545

-4,974

5,340

-3,294

5,853

1,975

-3,978

198

9,670

-2,153

-5,362

-5,527

7,193

5,109

-8,646

4,705

1,345

6,289

-2,783

Income taxes payable/receivable

8,409

7,993

-228

-12,879

498

864

-6,923

9,679

7,129

-8,946

6,000

-15,546

13,617

-865

2,606

-20,217

10,556

-1,307

3,091

1,139

-3,983

6,611

4,985

1,315

-8,872

-524

-42

-4,797

538

-137

2,439

1,923

2,167

-2,076

-83

-1,925

2,487

-2,517

4,005

-11

-1,428

Total adjustments

-38,305

137,682

-51,211

-73,825

41,408

89,496

16,833

-37,465

-19,797

129,254

23,165

-31,473

7,854

101,049

-39,932

-44,254

62,514

84,420

33,853

-40,843

-51,737

134,531

20,009

-40,158

-673

63,752

-23,318

-42,101

4,299

56,318

16,324

-41,618

19,372

49,835

-45,177

-11,519

50,302

23,400

50,625

-23,754

6,129

Net cash provided by operating activities

23,787

158,077

-25,352

-45,269

117,697

114,151

53,040

-12,905

30,194

144,808

42,367

-17,455

43,482

110,569

-25,867

-34,541

95,207

90,759

45,803

-33,529

-37,950

142,695

28,394

-38,267

8,891

69,041

-13,236

-38,613

17,472

65,763

27,776

-35,997

33,256

60,679

-41,078

-4,778

59,088

31,189

57,859

-18,636

8,428

Cash flows from investing activities
Marketable securities:
Purchases

8,689

19,222

30,300

25,071

35,538

33,133

42,905

11,337

512

415

418

208

711

103

636

207

103

1,339

3,840

1,415

3,964

33,110

23,446

5,354

7,668

5,176

3,938

5,596

40,046

7,095

8,767

13,375

1,443

7,790

29,704

8,749

5,154

3,228

8,988

25,709

22,078

Proceeds from dispositions

0

22,514

300

0

5,499

0

10,860

5,439

0

-

-

-

-

-1

1

0

7,268

8,386

2,606

6,053

824

46,250

10,630

0

0

1

3,461

426

4,138

35,891

-13,401

13,401

0

0

-13,480

16,022

1,365

0

333

2,415

0

Proceeds from maturities

24,000

22,900

30,370

17,750

37,360

9,975

1,525

600

525

380

376

101

704

50

675

200

790

-7,276

13,018

2,231

2,620

3,735

9,815

8,349

6,595

5,727

5,238

3,235

1,001

5,500

27,119

-850

850

5,512

24,829

-3,037

4,402

2,411

6,027

8,621

1,242

Investments and acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,210

0

0

1,200

-

-

-

-

-

-

-

-

Property and equipment:
Cash exchanged for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,675

650

10,800

-

7,238

5,648

0

Purchases

15,625

20,339

18,761

11,599

5,608

13,809

7,494

7,440

6,585

6,819

5,716

9,235

11,567

12,692

8,655

7,767

4,880

7,805

4,189

3,427

2,423

8,092

4,398

4,255

2,379

2,281

2,641

3,797

2,843

5,635

3,665

4,896

3,435

8,036

15,000

5,078

3,326

2,415

1,919

1,618

812

Net cash provided by (used in) investing activities

-314

5,874

-18,391

-18,920

1,713

-36,816

-38,014

-12,738

-6,572

-6,576

-5,758

-9,342

-11,574

-12,703

-8,615

-7,774

3,075

-7,881

19,754

3,442

-2,943

8,905

-7,399

-1,260

-3,452

-1,672

2,120

-5,732

-37,750

27,520

1,286

-5,720

-5,228

-11,662

-35,030

-1,492

-13,513

-3,210

-11,785

-21,939

-21,648

Cash flows from financing activities:
Purchase of treasury stock

61,203

49,375

192,464

-67,833

29,037

97,091

32,463

-7,662

-8,565

65,907

-52,700

16,211

9,317

17,756

9,123

22

4,768

8,556

27,187

25,651

5,719

0

6,029

856

13,884

99

2,008

1,624

13,498

3

2,029

8,488

3,253

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

144,263

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-22,459

15,820

3,550

3,089

-7,852

5,465

506

1,881

Dividends paid

15,557

11,845

61,517

-37,126

12,386

8,238

41,956

-8,384

-8,402

83,599

-29,410

6,307

5,272

5,275

5,327

5,345

4,652

5,341

5,405

5,563

4,844

55,478

4,812

4,852

4,351

4,347

4,345

4,345

4,349

30,085

4,358

4,386

3,899

3,871

3,918

3,982

3,971

3,379

3,373

3,404

3,371

Borrowings under revolving line of credit

100,000

-

120,000

-25,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under long-term debt agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

124,400

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal repayments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

20,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

374

2

24

90

163

285

305

740

118

1,187

18

241

803

75

598

749

2,534

1,678

988

1,032

3,485

Income tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-820

64

43

2,929

582

73

156

78

440

228

288

665

859

23

33

1,401

117

169

169

1,711

428

137

146

149

Other

2,363

1,097

10,978

-4,848

1,085

644

2,723

-759

-351

2,731

-2,007

512

318

344

311

407

311

292

328

398

285

292

318

360

318

265

285

347

230

247

-1,088

359

260

-1,420

-202

270

216

193

187

220

222

Net cash used in financing activities

25,603

-30,123

-123,003

75,111

-40,338

-64,685

-71,696

15,287

16,616

-146,775

80,103

-22,006

-14,271

-22,687

-13,541

-4,960

-48,972

-14,425

-32,200

-30,773

-6,975

-54,602

-10,426

-5,102

-17,676

-3,456

-5,535

-4,594

-16,834

-30,957

-7,434

-12,241

-4,688

-7,719

-19,173

-6,344

-2,599

-1,080

-7,526

-2,512

-1,396

Net increase in cash, cash equivalents and restricted cash

49,076

133,828

-97,200

-58,624

79,072

12,650

7,136

-40,930

7,006

79,109

29,060

-48,803

17,637

75,179

-48,023

-47,275

49,310

68,453

33,357

-60,860

-47,868

96,998

10,569

-44,629

-12,237

63,913

-16,651

-48,939

-37,112

62,326

21,628

-53,958

23,340

41,298

-95,281

-12,614

42,976

26,899

38,548

-43,087

-14,616

Supplemental Cash Flow Information [Abstract]
ROU assets obtained in exchange for lease obligations

6,787

2,494

10,086

8,754

3,140

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-