$BBSI
BARRETT BUSINESS SERVICES INC

2024 Q2 Form 10-Q Financial Statement

#000095017024051423 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $279.7M $265.8M
YoY Change 5.68% 4.36%
Cost Of Revenue $211.8M $226.2M
YoY Change 7.17% 6.14%
Gross Profit $67.90M $39.57M
YoY Change 1.27% -4.76%
Gross Profit Margin 24.28% 14.89%
Selling, General & Admin $45.58M $42.41M
YoY Change 4.04% 2.88%
% of Gross Profit 67.13% 107.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.912M $1.852M
YoY Change 10.58% 10.44%
% of Gross Profit 2.82% 4.68%
Operating Expenses $45.58M $42.41M
YoY Change 0.09% 2.88%
Operating Profit $20.41M -$4.699M
YoY Change -5.12% 245.77%
Interest Expense $44.00K $44.00K
YoY Change -97.93% 15.79%
% of Operating Profit 0.22%
Other Income/Expense, Net $3.052M $3.296M
YoY Change 15963.16% 42.5%
Pretax Income $23.46M -$1.403M
YoY Change -0.83% -247.06%
Income Tax $6.759M -$1.267M
% Of Pretax Income 28.81%
Net Earnings $16.70M -$136.0K
YoY Change -1.85% -116.61%
Net Earnings / Revenue 5.97% -0.05%
Basic Earnings Per Share $0.64 -$0.02
Diluted Earnings Per Share $0.62 -$0.02
COMMON SHARES
Basic Shares Outstanding 6.542M 6.571M
Diluted Shares Outstanding 26.77M 6.570M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.4M $123.7M
YoY Change -16.96% -6.82%
Cash & Equivalents $40.35M $51.27M
Short-Term Investments $70.10M $72.41M
Other Short-Term Assets $98.28M $143.5M
YoY Change 13.49% 11.46%
Inventory
Prepaid Expenses
Receivables $211.6M $200.4M
Other Receivables $1.184M $7.727M
Total Short-Term Assets $421.5M $475.3M
YoY Change 0.91% 5.74%
LONG-TERM ASSETS
Property, Plant & Equipment $54.24M $51.22M
YoY Change -20.44% 8.36%
Goodwill $47.82M $47.82M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.352M $6.346M
YoY Change -95.41% 88.98%
Total Long-Term Assets $267.1M $272.5M
YoY Change 5.06% 20.11%
TOTAL ASSETS
Total Short-Term Assets $421.5M $475.3M
Total Long-Term Assets $267.1M $272.5M
Total Assets $688.6M $747.8M
YoY Change 2.48% 10.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.396M $5.697M
YoY Change -22.89% 5.81%
Accrued Expenses $312.3M $316.5M
YoY Change -3.61% -4.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $332.8M $388.0M
YoY Change -0.89% 14.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $156.8M $170.2M
YoY Change -0.84% 3.46%
Total Long-Term Liabilities $156.8M $170.2M
YoY Change -0.84% 3.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $332.8M $388.0M
Total Long-Term Liabilities $156.8M $170.2M
Total Liabilities $489.6M $558.2M
YoY Change -0.87% 11.0%
SHAREHOLDERS EQUITY
Retained Earnings $182.2M $174.1M
YoY Change 7.6% 6.31%
Common Stock $39.14M $37.76M
YoY Change 12.98% 12.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.0M $189.6M
YoY Change
Total Liabilities & Shareholders Equity $688.6M $747.8M
YoY Change 2.48% 10.56%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $16.70M -$136.0K
YoY Change -1.85% -116.61%
Depreciation, Depletion And Amortization $1.912M $1.852M
YoY Change 10.58% 10.44%
Cash From Operating Activities -$51.33M $8.979M
YoY Change -1647.08% -133.86%
INVESTING ACTIVITIES
Capital Expenditures $4.930M $2.779M
YoY Change 75.38% -7.21%
Acquisitions
YoY Change
Other Investing Activities $47.82M $16.89M
YoY Change -3264.86% 1670.86%
Cash From Investing Activities $42.89M $14.12M
YoY Change -1092.39% -791.57%
FINANCING ACTIVITIES
Cash Dividend Paid $1.970M
YoY Change -4.69%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.392M -10.11M
YoY Change -24.62% -6.1%
NET CHANGE
Cash From Operating Activities -51.33M 8.979M
Cash From Investing Activities 42.89M 14.12M
Cash From Financing Activities -9.392M -10.11M
Net Change In Cash -17.83M 12.99M
YoY Change 32.45% -133.03%
FREE CASH FLOW
Cash From Operating Activities -$51.33M $8.979M
Capital Expenditures $4.930M $2.779M
Free Cash Flow -$56.26M $6.200M
YoY Change -11197.04% -121.01%

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IncreaseDecreaseInAccruedSalaries
22048000
CY2023Q1 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
13944000
CY2024Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-3135000
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1224000
CY2024Q1 bbsi Increase Decrease In Premium Payable
IncreaseDecreaseInPremiumPayable
26167000
CY2023Q1 bbsi Increase Decrease In Premium Payable
IncreaseDecreaseInPremiumPayable
-1413000
CY2024Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-9835000
CY2023Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-14412000
CY2024Q1 bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1806000
CY2023Q1 bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
1819000
CY2024Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
11000
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
247000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8979000
CY2023Q1 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
1725000
CY2024Q1 bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
13253000
CY2023Q1 bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
2446000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14115000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2041000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7056000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8030000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1456000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1005000
CY2024Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1970000
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
2067000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
376000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
339000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10106000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10763000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12988000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-39319000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
74841000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
107378000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
87829000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68059000
CY2024Q1 bbsi Revenue Recognition Peo Service Contract Minimum Term
RevenueRecognitionPeoServiceContractMinimumTerm
P1Y
CY2024Q1 bbsi Period For Cancellation Or Termination Of Peo Service Contract
PeriodForCancellationOrTerminationOfPeoServiceContract
P30D
CY2024Q1 bbsi Payment Term For Staffing Customers
PaymentTermForStaffingCustomers
P30D
CY2024Q1 bbsi Number Of Wholly Owned Insurance Companies
NumberOfWhollyOwnedInsuranceCompanies
2
CY2024Q1 bbsi Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P3M
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
40000.00
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
10000.00
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51267000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71168000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
52635000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91423000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
36562000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3673000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15424000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15955000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87829000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74841000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68059000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
107378000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6570000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6866000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
119000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6570000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6985000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
135405
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="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="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-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, and accrued workers’ compensation liabilities. Actual results may or may not differ from such estimates.</span></p>
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="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;">Reclassifications</span></p><p style="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-size:10pt;font-family:Arial;min-width:fit-content;">To conform to the current period’s presentation, safety incentives liability of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million was reclassified to other accrued liabilities in the prior period condensed consolidated balance sheets, and net cash outflows related to safety incentives liability of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million was reclassified to other accrued liabilities in the prior period condensed consolidated statements of cash flows. Additionally, to conform the current period’s presentation to reclassifications made in 2023, net cash outflows associated with premiums payable to third party insurance carriers of $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.4</span><span style="color:#000000;white-space:pre-wrap;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>
CY2023Q4 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
1300000
CY2023Q1 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
300000
CY2024Q1 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
1400000
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
376567000
CY2024Q1 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-30818000
CY2024Q1 us-gaap Marketable Securities
MarketableSecurities
345749000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
368753000
CY2023Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-28751000
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
340002000
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
11800000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
3600000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
95315000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
128047000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
64510000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
1461000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
289333000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
84724000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
128254000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
69126000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
1466000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
283570000
CY2024Q1 bbsi Debt Securities Available For Sale Average Contractual Maturity Period
DebtSecuritiesAvailableForSaleAverageContractualMaturityPeriod
P21Y
CY2023 bbsi Debt Securities Available For Sale Average Contractual Maturity Period
DebtSecuritiesAvailableForSaleAverageContractualMaturityPeriod
P23Y
CY2023Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
167763000
CY2022Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
215987000
CY2024Q1 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
3600000
CY2023Q1 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
4362000
CY2024Q1 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-2992000
CY2023Q1 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-1114000
CY2024Q1 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
608000
CY2023Q1 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
3248000
CY2024Q1 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
954000
CY2023Q1 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
180000
CY2024Q1 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
9489000
CY2023Q1 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
17480000
CY2024Q1 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
10443000
CY2023Q1 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
17660000
CY2024Q1 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
126000
CY2023Q1 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
66000
CY2024Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
158054000
CY2023Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
201641000
CY2024Q1 bbsi Percentage Of Claims Excluded
PercentageOfClaimsExcluded
0.10
CY2024Q1 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
234200000
CY2023Q4 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
210900000
CY2024Q1 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
48100000
CY2023Q4 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
48100000
CY2024Q1 bbsi Standby Letters Of Credit And Surety Bond
StandbyLettersOfCreditAndSuretyBond
48100000
CY2024Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
158100000
CY2023Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
167800000
CY2024Q1 bbsi Workers Compensation Claims Incurred But Not Reported In Excess Of Retention Limits
WorkersCompensationClaimsIncurredButNotReportedInExcessOfRetentionLimits
6100000
CY2023 bbsi Workers Compensation Claims Incurred But Not Reported In Excess Of Retention Limits
WorkersCompensationClaimsIncurredButNotReportedInExcessOfRetentionLimits
6000000.0
CY2024Q1 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
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
500000
CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
0

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