$BBSI
BARRETT BUSINESS SERVICES INC

2023 Q4 Form 10-Q Financial Statement

#000095017023057611 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $276.7M $273.3M
YoY Change 1.74% -0.18%
Cost Of Revenue $211.1M $205.0M
YoY Change -0.08% -0.93%
Gross Profit $65.61M $68.33M
YoY Change 8.08% 2.13%
Gross Profit Margin 23.71% 25.0%
Selling, General & Admin $45.58M $44.16M
YoY Change 3.11% 2.7%
% of Gross Profit 69.46% 64.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.810M $1.900M
YoY Change 10.16% 22.27%
% of Gross Profit 2.76% 2.78%
Operating Expenses $47.41M $44.16M
YoY Change 3.42% 2.7%
Operating Profit $18.20M $22.30M
YoY Change 22.47% -0.2%
Interest Expense $1.739M $80.00K
YoY Change 5.59% 128.57%
% of Operating Profit 9.56% 0.36%
Other Income/Expense, Net -$232.0K $2.370M
YoY Change 201.3% 51.15%
Pretax Income $19.71M $24.67M
YoY Change 19.94% 3.17%
Income Tax $5.147M $6.453M
% Of Pretax Income 26.12% 26.16%
Net Earnings $14.56M $18.22M
YoY Change 26.28% 4.48%
Net Earnings / Revenue 5.26% 6.67%
Basic Earnings Per Share $2.72
Diluted Earnings Per Share $2.16 $2.68
COMMON SHARES
Basic Shares Outstanding 6.617M 6.730M
Diluted Shares Outstanding 6.795M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.2M $129.2M
YoY Change -4.73% -2.2%
Cash & Equivalents $71.17M $41.58M
Short-Term Investments $81.03M $87.65M
Other Short-Term Assets $115.9M $93.00M
YoY Change -11.37% -30.65%
Inventory
Prepaid Expenses
Receivables $171.4M $205.2M
Other Receivables $7.987M $0.00
Total Short-Term Assets $447.5M $427.5M
YoY Change -1.51% -7.23%
LONG-TERM ASSETS
Property, Plant & Equipment $50.30M $48.68M
YoY Change 9.45% 12.63%
Goodwill $47.82M $47.82M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.222M $3.765M
YoY Change 89.64% 12.76%
Total Long-Term Assets $274.0M $262.5M
YoY Change 17.83% 11.15%
TOTAL ASSETS
Total Short-Term Assets $447.5M $427.5M
Total Long-Term Assets $274.0M $262.5M
Total Assets $721.5M $690.0M
YoY Change 5.04% -1.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.593M $5.268M
YoY Change -20.22% 15.7%
Accrued Expenses $300.1M $314.7M
YoY Change -7.32% -5.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $343.3M $341.1M
YoY Change 2.55% -0.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $179.1M $168.5M
YoY Change 2.74% -8.36%
Total Long-Term Liabilities $179.1M $168.5M
YoY Change 2.74% -8.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $343.3M $341.1M
Total Long-Term Liabilities $179.1M $168.5M
Total Liabilities $522.4M $509.6M
YoY Change 2.61% -3.06%
SHAREHOLDERS EQUITY
Retained Earnings $182.9M $175.2M
YoY Change 5.97% 2.62%
Common Stock $37.01M $34.91M
YoY Change 12.78% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.1M $180.4M
YoY Change
Total Liabilities & Shareholders Equity $721.5M $690.0M
YoY Change 5.04% -1.0%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $14.56M $18.22M
YoY Change 26.28% 4.48%
Depreciation, Depletion And Amortization $1.810M $1.900M
YoY Change 10.16% 22.27%
Cash From Operating Activities $57.22M $33.20M
YoY Change 85.56% -3.37%
INVESTING ACTIVITIES
Capital Expenditures $3.727M $2.300M
YoY Change -17.45% -175.41%
Acquisitions
YoY Change
Other Investing Activities -$33.96M -$8.800M
YoY Change -246.4% -243.35%
Cash From Investing Activities -$37.69M -$11.10M
YoY Change -301.73% -459.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.172M -14.20M
YoY Change -29.4% 4.67%
NET CHANGE
Cash From Operating Activities 57.22M 33.20M
Cash From Investing Activities -37.69M -11.10M
Cash From Financing Activities -7.172M -14.20M
Net Change In Cash 12.36M 7.900M
YoY Change -68.59% -66.92%
FREE CASH FLOW
Cash From Operating Activities $57.22M $33.20M
Capital Expenditures $3.727M $2.300M
Free Cash Flow $53.49M $30.90M
YoY Change 103.23% -17.4%

Facts In Submission

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CY2023Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10145000
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2013000
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2028000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
17016000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
177969000
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
361000
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1590000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2136000
CY2023Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10917000
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2025000
CY2023Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3707000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
18219000
CY2023Q3 us-gaap Shares Outstanding
SharesOutstanding
6618000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
180446000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
208530000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
411000
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
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
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1178000
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
CY2022Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2128000
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-8900000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
17438000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
171363000
us-gaap Net Income Loss
NetIncomeLoss
36054000
us-gaap Net Income Loss
NetIncomeLoss
35740000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5273000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4585000
bbsi Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
5270000
bbsi Non Cash Operating Lease Expense
NonCashOperatingLeaseExpense
5236000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-543000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-915000
us-gaap Share Based Compensation
ShareBasedCompensation
6027000
us-gaap Share Based Compensation
ShareBasedCompensation
5489000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
41379000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
38830000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
176000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
899000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2651000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2561000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2996000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
68000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
25801000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
33093000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-5867000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1769000
bbsi Increase Decrease In Premium Payable
IncreaseDecreaseInPremiumPayable
23234000
bbsi Increase Decrease In Premium Payable
IncreaseDecreaseInPremiumPayable
9978000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-38693000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-52937000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-580000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-1817000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
5274000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
5005000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
241000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-319000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9999000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3059000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
8115000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
11458000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
117000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
4386000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
805000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12828000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
20943000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
3644000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
14975000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
44746000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17547000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42472000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3510000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
29092000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
39052000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2899000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1621000
us-gaap Payments Of Dividends
PaymentsOfDividends
6105000
us-gaap Payments Of Dividends
PaymentsOfDividends
6552000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
702000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
711000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-37394000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50024000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-44942000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10611000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
107378000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78629000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
62436000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68018000
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
CY2023Q3 bbsi Number Of Wholly Owned Insurance Companies
NumberOfWhollyOwnedInsuranceCompanies
2
bbsi Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P3M
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
885000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
893000
CY2023Q3 bbsi Estimate Of Liability For Unpaid Safety Incentives
EstimateOfLiabilityForUnpaidSafetyIncentives
1500000
CY2022Q4 bbsi Estimate Of Liability For Unpaid Safety Incentives
EstimateOfLiabilityForUnpaidSafetyIncentives
2000000.0
CY2023Q3 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-41019000
CY2023Q3 us-gaap Marketable Securities
MarketableSecurities
302848000
us-gaap Income Taxes Paid
IncomeTaxesPaid
13000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
12200000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
41579000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91423000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
58951000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69405000
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
20857000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15955000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9067000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9224000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62436000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107378000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68018000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78629000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6699000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7036000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6772000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7201000
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
96000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
91000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
113000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
85000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6795000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7127000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6885000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7286000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">Accounting estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;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>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">To conform to the current period’s presentation, premiums payable to third party insurance carriers of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">18.9</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> million were reclassified from other accrued liabilities to current premium payable in the prior period condensed consolidated balance sheets and premiums payable to third party insurance carriers of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;">10.0</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Arial;min-width:fit-content;"> million were reclassified from other accrued liabilities to premium payable in the prior period condensed consolidated statements of cash flows.</span></p>
CY2022Q4 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
18900000
us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
10000000
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
343867000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
346087000
CY2022Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-38140000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
307947000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
2100000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
15900000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
49494000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
118826000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
77756000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
1425000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
247501000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
45568000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
79860000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
111867000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
10859000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
248154000
CY2023Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
191823000
CY2022Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
241510000
CY2022Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
215987000
CY2021Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
279407000
CY2023Q3 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
3792000
CY2022Q3 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
4854000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
11636000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
13678000
CY2023Q3 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-4098000
CY2022Q3 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-1360000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-6792000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-10737000
CY2023Q3 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
-306000
CY2022Q3 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
3494000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
4844000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
2941000
CY2023Q3 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
1240000
CY2022Q3 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
1714000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
2005000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
2742000
CY2023Q3 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
12244000
CY2022Q3 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
16846000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
41532000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
53136000
CY2023Q3 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
13484000
CY2022Q3 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
18560000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
43537000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
55878000
CY2023Q3 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
-231000
CY2022Q3 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
899000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
508000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
873000
CY2023Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
177802000
CY2022Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
227343000
CY2023Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
177802000
CY2022Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
227343000
CY2023Q3 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
82076000
CY2022Q3 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
117587000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
82076000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
117587000
CY2023Q3 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.46
CY2022Q3 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.52
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.46
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.52
bbsi Description Of Renewed Agreement
DescriptionOfRenewedAgreement
Effective July 1, 2021, the Company entered into a new arrangement for its insured program, 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 arrangement for the insured program was renewed for claims incurred from July 1, 2022 to June 30, 2023 (the “2022-2023 Policy”) and for claims incurred from July 1, 2023 to June 30, 2024 (the “2023-2024 Policy”).
bbsi Percentage Of Claims Excluded
PercentageOfClaimsExcluded
0.10
CY2023Q3 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
178700000
CY2022Q4 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
188200000
CY2023Q3 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
48100000
CY2022Q4 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
54500000
CY2023Q3 bbsi Standby Letters Of Credit And Surety Bond
StandbyLettersOfCreditAndSuretyBond
48100000
CY2023Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
177800000
CY2022Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
216000000.0
bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
3500000
CY2022 bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
3000000.0
us-gaap Line Of Credit Facility Commitment Fee Description
LineOfCreditFacilityCommitmentFeeDescription
The Agreement also provides for an unused commitment fee of 0.35% 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.
us-gaap Income Tax Examination Penalties Expense
IncomeTaxExaminationPenaltiesExpense
1700000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
600000
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
0

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