$BBSI
BARRETT BUSINESS SERVICES INC

2022 Q4 Form 10-Q Financial Statement

#000095017022021382 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $272.0M $273.8M $247.0M
YoY Change 6.0% 10.88% 8.54%
Cost Of Revenue $211.2M $206.9M $186.7M
YoY Change 5.29% 10.82% 10.96%
Gross Profit $60.71M $66.90M $60.24M
YoY Change 8.53% 11.07% 1.69%
Gross Profit Margin 22.32% 24.43% 24.39%
Selling, General & Admin $44.20M $43.00M $41.17M
YoY Change 6.98% 4.45% 15.65%
% of Gross Profit 72.82% 64.28% 68.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.643M $1.554M $1.342M
YoY Change 20.9% 15.8% 3.23%
% of Gross Profit 2.71% 2.32% 2.23%
Operating Expenses $45.85M $43.00M $42.51M
YoY Change 7.42% 1.15% 15.21%
Operating Profit $14.86M $22.35M $17.72M
YoY Change 12.09% 26.08% -20.65%
Interest Expense $1.647M $35.00K $1.779M
YoY Change -4.08% -98.03% 36.85%
% of Operating Profit 11.08% 0.16% 10.04%
Other Income/Expense, Net -$77.00K $1.568M $0.00
YoY Change -23.76%
Pretax Income $16.43M $23.91M $19.50M
YoY Change 10.47% 22.62% -17.36%
Income Tax $4.901M $6.476M $4.573M
% Of Pretax Income 29.83% 27.08% 23.45%
Net Earnings $11.53M $17.44M $14.93M
YoY Change 8.61% 16.81% -19.35%
Net Earnings / Revenue 4.24% 6.37% 6.05%
Basic Earnings Per Share $2.48 $1.98
Diluted Earnings Per Share $1.64 $2.45 $1.963M
COMMON SHARES
Basic Shares Outstanding 6.962M 7.089M 7.545M
Diluted Shares Outstanding 7.127M 7.607M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $159.7M $132.1M $436.3M
YoY Change -3.86% -69.72% 1.05%
Cash & Equivalents $91.42M $58.95M $12.86M
Short-Term Investments $68.33M $73.19M $423.5M
Other Short-Term Assets $130.8M $134.1M $105.7M
YoY Change 54.14% 26.89% 1.14%
Inventory
Prepaid Expenses
Receivables $163.8M $194.5M $240.3M
Other Receivables $0.00 $0.00 $1.732M
Total Short-Term Assets $454.4M $460.8M $463.3M
YoY Change 11.71% -0.54% -0.69%
LONG-TERM ASSETS
Property, Plant & Equipment $45.95M $43.22M $58.02M
YoY Change 26.68% -25.51% -1.49%
Goodwill $47.82M $47.82M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.281M $3.339M $239.8M
YoY Change 32.62% -98.61% -4.1%
Total Long-Term Assets $232.6M $236.2M $345.7M
YoY Change -31.64% -31.67% -3.12%
TOTAL ASSETS
Total Short-Term Assets $454.4M $460.8M $463.3M
Total Long-Term Assets $232.6M $236.2M $345.7M
Total Assets $686.9M $697.0M $809.0M
YoY Change -8.03% -13.84% -1.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.264M $4.553M $4.483M
YoY Change 84.26% 1.56% -29.95%
Accrued Expenses $323.8M $332.1M $343.6M
YoY Change 7.43% -3.33% 8.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $3.565M
YoY Change -100.0% -100.0% 1682.5%
Total Short-Term Liabilities $334.7M $341.8M $357.0M
YoY Change 6.13% -4.26% 3.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $174.4M $183.9M $241.4M
YoY Change -21.22% -23.84% -11.73%
Total Long-Term Liabilities $174.4M $183.9M $241.4M
YoY Change -21.22% -23.84% -12.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $334.7M $341.8M $357.0M
Total Long-Term Liabilities $174.4M $183.9M $241.4M
Total Liabilities $509.1M $525.6M $601.3M
YoY Change -5.45% -12.59% -3.94%
SHAREHOLDERS EQUITY
Retained Earnings $172.6M $170.7M
YoY Change -3.2%
Common Stock $32.81M $31.42M
YoY Change 12.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $177.8M $171.4M $207.6M
YoY Change
Total Liabilities & Shareholders Equity $686.9M $697.0M $809.0M
YoY Change -8.03% -13.84% -1.74%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $11.53M $17.44M $14.93M
YoY Change 8.61% 16.81% -19.35%
Depreciation, Depletion And Amortization $1.643M $1.554M $1.342M
YoY Change 20.9% 15.8% 3.23%
Cash From Operating Activities $30.84M $34.36M -$62.93M
YoY Change -31.24% -154.6% -277.25%
INVESTING ACTIVITIES
Capital Expenditures $4.515M -$3.050M -$1.792M
YoY Change -352.94% 70.2% 49.33%
Acquisitions
YoY Change
Other Investing Activities $23.20M $6.139M $80.02M
YoY Change 4.35% -92.33% 5615.93%
Cash From Investing Activities $18.68M $3.089M $78.23M
YoY Change -8.62% -96.05% 39015.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.16M -13.57M -7.251M
YoY Change 14.42% 87.09% 141.7%
NET CHANGE
Cash From Operating Activities 30.84M 34.36M -62.93M
Cash From Investing Activities 18.68M 3.089M 78.23M
Cash From Financing Activities -10.16M -13.57M -7.251M
Net Change In Cash 39.36M 23.88M 8.055M
YoY Change -30.23% 196.46% -75.37%
FREE CASH FLOW
Cash From Operating Activities $30.84M $34.36M -$62.93M
Capital Expenditures $4.515M -$3.050M -$1.792M
Free Cash Flow $26.32M $37.41M -$61.13M
YoY Change -43.55% -161.19% -266.57%

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ComprehensiveIncomeNetOfTax
8538000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13928000
us-gaap Net Income Loss
NetIncomeLoss
35740000
us-gaap Net Income Loss
NetIncomeLoss
27465000
CY2022Q3 us-gaap Goodwill
Goodwill
47820000
CY2021Q4 us-gaap Goodwill
Goodwill
47820000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-12184000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-1567000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-31882000
dei Security12b Title
Security12bTitle
Common Stock, Par Value $0.01 Per Share
dei Trading Symbol
TradingSymbol
BBSI
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-4100000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3858000
CY2022Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3339000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2474000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
23365000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
208530000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
411000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14598000
CY2022Q3 bbsi Customer Deposits And Other Long Term Liabilities
CustomerDepositsAndOtherLongTermLiabilities
6661000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1893000
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10560000
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
185000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1830000
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
8575000
CY2021Q4 bbsi Customer Deposits And Other Long Term Liabilities
CustomerDepositsAndOtherLongTermLiabilities
7362000
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
170745000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
178323000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
171363000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
208530000
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2229000
CY2022Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-14358000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
288000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
185712000
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
258000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1766000
CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
19917000
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2195000
CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-8624000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
18014000
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1178000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
11747000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
835000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
174498000
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
300000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
121787000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
17090000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
199422000
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
280000.00
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1010000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1479000
CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4197000
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2021Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2269000
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1001000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
14929000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
207633000
us-gaap Net Income Loss
NetIncomeLoss
35740000
us-gaap Net Income Loss
NetIncomeLoss
27465000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4585000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3967000
bbsi Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
5236000
bbsi Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
5937000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-915000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-1053000
bbsi Deferred Income Tax Expense Benefit Including Other Comprehensive Income Tax Adjustments
DeferredIncomeTaxExpenseBenefitIncludingOtherComprehensiveIncomeTaxAdjustments
-1000
us-gaap Share Based Compensation
ShareBasedCompensation
5489000
us-gaap Share Based Compensation
ShareBasedCompensation
3874000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
38830000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
44746000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
899000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
110131000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
4753000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2561000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42472000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7457000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
68000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-263000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-133308000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2718000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
33093000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
100792000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
58951000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69405000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12860000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60304000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
11458000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5016000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
56775000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12828000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
72130000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
3644000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
253778000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-52937000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-60230000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-1817000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-13464000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
5005000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
5773000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-319000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
5000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3059000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
39052000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10775000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1621000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1404000
us-gaap Payments Of Dividends
PaymentsOfDividends
6552000
us-gaap Payments Of Dividends
PaymentsOfDividends
6818000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
711000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1156000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50024000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18007000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10611000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-211619000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78629000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
233837000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68018000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22218000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7127000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68688000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7607000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9067000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7286000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9224000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7642000
CY2022Q3 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
16846000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9358000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
165149000
bbsi Revenue Recognition Peo Service Contract Minimum Term
RevenueRecognitionPeoServiceContractMinimumTerm
P1Y
bbsi Period For Cancellation Or Termination Of Peo Service Contract
PeriodForCancellationOrTerminationOfPeoServiceContract
P30D
bbsi Payment Term For Staffing Customers
PaymentTermForStaffingCustomers
P30D
CY2022Q3 bbsi Number Of Wholly Owned Insurance Companies
NumberOfWhollyOwnedInsuranceCompanies
2
bbsi Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P3M
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68018000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
700000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
460000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
63921000
CY2022Q3 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
1714000
CY2022Q3 bbsi Estimate Of Liability For Unpaid Safety Incentives
EstimateOfLiabilityForUnpaidSafetyIncentives
2500000
CY2021Q4 bbsi Estimate Of Liability For Unpaid Safety Incentives
EstimateOfLiabilityForUnpaidSafetyIncentives
4300000
us-gaap Income Taxes Paid
IncomeTaxesPaid
12200000
us-gaap Income Taxes Paid
IncomeTaxesPaid
3500000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78629000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
39232000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
85927000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
91000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
62000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22218000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
233837000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7036000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7545000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7201000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7559000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Accounting estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The preparation of our condensed consolidated financial statements, in conformity with GAAP, requires management to make estimates and assumptions. These affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Estimates are used for fair value measurement of investments, allowance for doubtful accounts, deferred income taxes, carrying values for goodwill and property, equipment and software, accrued workers’ compensation liabilities and safety incentive liabilities. Actual results may or may not differ from such estimates.</span></p>
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
361158000
CY2022Q3 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-42570000
CY2022Q3 us-gaap Marketable Securities
MarketableSecurities
318588000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
399680000
CY2021Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
1491000
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
401171000
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
8700000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
9200000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
112396000
CY2021Q3 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
6149000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
16453000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
254008000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
2742000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
11129000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
162382000
CY2022Q3 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.52
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
39211000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
65144000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
180213000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
27445000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
312013000
CY2022Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
241510000
CY2021Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
315733000
CY2021Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
279407000
CY2020Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
357746000
CY2022Q3 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
4854000
CY2021Q3 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
2394000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
13678000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
71407000
CY2022Q3 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-1360000
CY2021Q3 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-823000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-10737000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-7486000
CY2022Q3 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
3494000
CY2021Q3 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
1571000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
2941000
CY2021Q3 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
14018000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
53136000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
113022000
CY2022Q3 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
18560000
CY2021Q3 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
20167000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
55878000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
124151000
CY2022Q3 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
899000
CY2021Q3 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
-138000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
873000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
-517000
CY2022Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
227343000
CY2021Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
296999000
CY2022Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
227343000
CY2021Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
296999000
CY2022Q3 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
117587000
CY2021Q3 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
162382000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
117587000
CY2021Q3 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.55
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.52
CY2021Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
279400000
bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
3000000.0
CY2021 bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
2200000
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.55
bbsi Description Of Renewed Agreement
DescriptionOfRenewedAgreement
The Company entered into a new arrangement for its insured program effective July 1, 2021 whereby third-party insurers assumed all risk of loss for claims incurred from July 1, 2021 to June 30, 2022 (the “2021-2022 Policy”). The 2021-2022 Policy allows for premium adjustments depending on overall policy performance. If claims develop favorably, BBSI can participate in the savings up to $20.0 million for the twelve-month policy period. If claims develop adversely, additional premium may be charged up to $7.5 million for a twelve-month policy period.
bbsi Maximum Savings Amount If Claims Develop Favorably
MaximumSavingsAmountIfClaimsDevelopFavorably
20000000.0
bbsi Maximum Additional Premium Charged Amount If Claims Develop Adversely
MaximumAdditionalPremiumChargedAmountIfClaimsDevelopAdversely
7500000
CY2020Q2 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
115700000
CY2020Q2 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
115700000
bbsi Percentage Of Claims Excluded
PercentageOfClaimsExcluded
0.10
CY2022Q3 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
198600000
CY2021Q4 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
273600000
CY2022Q3 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
54500000
CY2021Q4 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
58400000
CY2022Q3 bbsi Surety Bonds
SuretyBonds
54500000
CY2022Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
227300000
us-gaap Line Of Credit Facility Commitment Fee Description
LineOfCreditFacilityCommitmentFeeDescription
The Agreement also provides for an unused commitment fee of 0.30% per year on the average daily unused amount of the revolving credit line, as well as a fee of 1.75% of the face amount of each letter of credit reserved under the line of credit
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
0
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
0
CY2017 us-gaap Income Tax Examination Interest Expense
IncomeTaxExaminationInterestExpense
1700000
CY2018 bbsi Estimated Tax Due
EstimatedTaxDue
1700000
CY2019 bbsi Estimated Tax Due
EstimatedTaxDue
1600000
CY2020 bbsi Estimated Tax Due
EstimatedTaxDue
700000
CY2021 bbsi Estimated Tax Due
EstimatedTaxDue
200000
CY2022Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
0

Files In Submission

Name View Source Status
bbsi-20220930_cal.xml Edgar Link unprocessable
0000950170-22-021382-index-headers.html Edgar Link pending
0000950170-22-021382-index.html Edgar Link pending
0000950170-22-021382.txt Edgar Link pending
0000950170-22-021382-xbrl.zip Edgar Link pending
bbsi-20220930.htm Edgar Link pending
bbsi-20220930.xsd Edgar Link pending
bbsi-ex31_1.htm Edgar Link pending
bbsi-ex31_2.htm Edgar Link pending
bbsi-ex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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bbsi-20220930_def.xml Edgar Link unprocessable
bbsi-20220930_pre.xml Edgar Link unprocessable
bbsi-20220930_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
bbsi-20220930_htm.xml Edgar Link completed
R8.htm Edgar Link pending
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