$BBSI
BARRETT BUSINESS SERVICES INC

2021 Q2 Form 10-Q Financial Statement

#000156459021040939 Filed on August 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $233.2M $201.0M $219.1M
YoY Change 16.0% -12.97% 0.41%
Cost Of Revenue $175.7M $154.4M $193.1M
YoY Change 13.82% -12.21% 1.68%
Gross Profit $57.47M $46.64M $26.05M
YoY Change 23.22% -15.38% -8.1%
Gross Profit Margin 24.65% 23.2% 11.89%
Selling, General & Admin $35.66M $33.30M $32.12M
YoY Change 7.09% -14.63% -3.15%
% of Gross Profit 62.05% 71.39% 123.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.325M $1.200M $1.000M
YoY Change 10.42% 33.33% 0.0%
% of Gross Profit 2.31% 2.57% 3.84%
Operating Expenses $35.66M $34.40M $32.12M
YoY Change 3.67% -11.81% -3.15%
Operating Profit $20.48M $12.24M -$6.064M
YoY Change 67.3% -19.16% 4.88%
Interest Expense $79.00K $1.500M $2.700M
YoY Change -94.73% 211.85% 466.04%
% of Operating Profit 0.39% 12.25%
Other Income/Expense, Net $1.873M $200.0K $2.733M
YoY Change 836.5% -92.98% 4.83%
Pretax Income $22.36M $13.90M -$4.331M
YoY Change 60.83% -22.76% 36.41%
Income Tax $5.266M $2.400M -$924.0K
% Of Pretax Income 23.56% 17.27%
Net Earnings $17.09M $11.51M -$3.407M
YoY Change 48.48% -17.24% 48.13%
Net Earnings / Revenue 7.33% 5.73% -1.55%
Basic Earnings Per Share $2.26 $1.52 -$0.45
Diluted Earnings Per Share $2.24 $1.51 -$0.45
COMMON SHARES
Basic Shares Outstanding 7.554M 7.557M 7.521M
Diluted Shares Outstanding 7.645M 7.647M 7.521M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.8M $458.3M $336.1M
YoY Change -76.05% 353.92% 766.36%
Cash & Equivalents $2.469M $62.21M $14.27M
Short-Term Investments $107.3M $396.1M $321.8M
Other Short-Term Assets $123.1M $100.0M $136.6M
YoY Change 23.08% -19.35% -4.94%
Inventory
Prepaid Expenses
Receivables $226.6M $188.4M $165.8M
Other Receivables $3.005M $3.500M $2.400M
Total Short-Term Assets $462.4M $421.5M $398.4M
YoY Change 9.7% 8.59% 18.32%
LONG-TERM ASSETS
Property, Plant & Equipment $58.72M $60.30M $59.90M
YoY Change -2.62% 115.36% 18.38%
Goodwill $47.82M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $297.2M $3.707M $353.4M
YoY Change 7916.13% 11.35% -7.32%
Total Long-Term Assets $403.7M $350.8M $461.2M
YoY Change 15.07% -21.34% -4.16%
TOTAL ASSETS
Total Short-Term Assets $462.4M $421.5M $398.4M
Total Long-Term Assets $403.7M $350.8M $461.2M
Total Assets $866.1M $772.3M $859.6M
YoY Change 12.14% -7.42% 5.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.606M $4.951M $4.300M
YoY Change -6.97% 2.63% -20.37%
Accrued Expenses $395.1M $285.1M $312.5M
YoY Change 38.6% -8.77% -3.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $221.0K $200.0K $200.0K
YoY Change 10.5% 0.0% 0.0%
Total Short-Term Liabilities $406.8M $316.0M $343.4M
YoY Change 28.75% -9.08% -4.59%
LONG-TERM LIABILITIES
Long-Term Debt $3.399M $3.620M $3.700M
YoY Change -6.1% -5.73% -5.03%
Other Long-Term Liabilities $253.1M $270.1M $351.2M
YoY Change -6.29% -21.78% 5.09%
Total Long-Term Liabilities $3.399M $3.620M $354.9M
YoY Change -6.1% -5.73% 9009.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $406.8M $316.0M $343.4M
Total Long-Term Liabilities $3.399M $3.620M $354.9M
Total Liabilities $666.7M $592.5M $698.3M
YoY Change 12.53% -14.97% 0.04%
SHAREHOLDERS EQUITY
Retained Earnings $149.4M
YoY Change 28.27%
Common Stock $23.50M
YoY Change 21.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.4M $179.9M $161.3M
YoY Change
Total Liabilities & Shareholders Equity $866.1M $772.3M $859.6M
YoY Change 12.14% -7.42% 5.1%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $17.09M $11.51M -$3.407M
YoY Change 48.48% -17.24% 48.13%
Depreciation, Depletion And Amortization $1.325M $1.200M $1.000M
YoY Change 10.42% 33.33% 0.0%
Cash From Operating Activities $10.52M -$115.4M $1.041M
YoY Change -109.12% -1524.69% -96.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.424M -$2.300M -$3.400M
YoY Change -38.09% -30.3% -289.1%
Acquisitions
YoY Change
Other Investing Activities -$85.72M -$3.000M $10.70M
YoY Change 2757.17% -116.76% -62.85%
Cash From Investing Activities -$87.24M -$5.200M $7.218M
YoY Change 1577.67% -135.86% -73.31%
FINANCING ACTIVITIES
Cash Dividend Paid $2.262M
YoY Change 22.14%
Common Stock Issuance & Retirement, Net $2.987M
YoY Change
Debt Paid & Issued, Net $55.00K
YoY Change 0.0%
Cash From Financing Activities -5.656M -600.0K -4.778M
YoY Change 842.67% -66.67% 143.4%
NET CHANGE
Cash From Operating Activities 10.52M -115.4M 1.041M
Cash From Investing Activities -87.24M -5.200M 7.218M
Cash From Financing Activities -5.656M -600.0K -4.778M
Net Change In Cash -82.37M -121.2M 3.481M
YoY Change -32.03% -682.69% -93.77%
FREE CASH FLOW
Cash From Operating Activities $10.52M -$115.4M $1.041M
Capital Expenditures -$1.424M -$2.300M -$3.400M
Free Cash Flow $11.95M -$113.1M $4.441M
YoY Change -110.56% -1092.11% -84.67%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3399000
CY2021Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
3328000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
797000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
173000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4399000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9552000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1449000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7539000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7678000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
11510000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
6877000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18387000
us-gaap Net Income Loss
NetIncomeLoss
8103000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
1584000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
4142000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
12245000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
198235000
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3436000
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2278000
CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5250000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-4554000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
184485000
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
61000
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
287000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1335000
CY2021Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3142000
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2271000
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2151000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
17090000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
199422000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
171799000
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2987000
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2262000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2735000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-3407000
us-gaap Net Income Loss
NetIncomeLoss
8103000
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
904000
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
378000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
342000
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.30
CY2021Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
315733000
CY2020Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
336504000
CY2021Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
315733000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
161276000
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1810000
CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
110000
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2272000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
6877000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
11510000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
179888000
us-gaap Net Income Loss
NetIncomeLoss
12536000
us-gaap Net Income Loss
NetIncomeLoss
8103000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2625000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2171000
bbsi Non Cash Lease Expense
NonCashLeaseExpense
3937000
bbsi Non Cash Lease Expense
NonCashLeaseExpense
3545000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-671000
bbsi Accretion Amortization And Gain Loss On Investments
AccretionAmortizationAndGainLossOnInvestments
-283000
bbsi Deferred Income Tax Expense Benefit Including Other Comprehensive Income Tax Adjustments
DeferredIncomeTaxExpenseBenefitIncludingOtherComprehensiveIncomeTaxAdjustments
3890000
us-gaap Share Based Compensation
ShareBasedCompensation
2395000
us-gaap Share Based Compensation
ShareBasedCompensation
1139000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
108076000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
24822000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
3480000
us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-2171000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2476000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2458000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-140000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1042000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
87024000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
8035000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
58051000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-2759000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-41634000
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
-102572000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-11944000
bbsi Increase Decrease In Safety Incentive Liability
IncreaseDecreaseInSafetyIncentiveLiability
-2183000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
3805000
bbsi Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
3405000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
23000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
143000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2621000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-114389000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3224000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5725000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
42011000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
23722000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
40054000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
38547000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
253048000
us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
29570000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
46690000
bbsi Proceeds From Sales And Maturities Of Restricted Investments
ProceedsFromSalesAndMaturitiesOfRestrictedInvestments
22453000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-211539000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1983000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
111000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
110000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6578000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2987000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
394000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
488000
us-gaap Payments Of Dividends
PaymentsOfDividends
4549000
us-gaap Payments Of Dividends
PaymentsOfDividends
4534000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
876000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2714000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10756000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
124300000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
138534000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5405000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-219674000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-117811000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
233837000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
273341000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14163000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
155530000
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
CY2021Q2 bbsi Number Of Wholly Owned Insurance Companies
NumberOfWhollyOwnedInsuranceCompanies
2
bbsi Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P3M
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
228771000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
761000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
757000
CY2021Q2 bbsi Estimate Of Liability For Unpaid Safety Incentives
EstimateOfLiabilityForUnpaidSafetyIncentives
6900000
us-gaap Income Taxes Paid
IncomeTaxesPaid
210000
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14163000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
233837000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2469000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68688000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62210000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44570000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11694000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
165149000
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
93320000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
273341000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7554000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7557000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7565000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7539000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
91000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
90000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
93000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
139000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7645000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155530000
CY2020Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
445310000
CY2021Q2 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
35743000
CY2020Q2 bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
32729000
CY2021Q2 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-5483000
CY2020Q2 bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-1373000
CY2021Q2 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
30260000
CY2020Q2 bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
31356000
CY2021Q2 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
3927000
CY2021Q2 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
77167000
CY2020Q2 bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
140380000
CY2021Q2 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
-23000
CY2020Q2 bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
218000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7647000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7658000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7678000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Arial;font-style:normal;text-transform:none;font-variant: normal;">Accounting estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
489744000
CY2021Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
6172000
CY2020Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainLossBeforeTax
10450000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
374121000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
11500000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
28063000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
86109000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
239667000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
34731000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
388570000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
81754000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
56462000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
36793000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
313543000
CY2021Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
362663000
CY2020Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
357746000
CY2019Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
438986000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
69013000
bbsi Workers Compensation Expense Accrual Claims For Current Period
WorkersCompensationExpenseAccrualClaimsForCurrentPeriod
71221000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-6663000
bbsi Workers Compensation Expense Adjustments Accrual Claims For Prior Periods
WorkersCompensationExpenseAdjustmentsAccrualClaimsForPriorPeriods
-2186000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
62350000
bbsi Workers Compensation Expense Accrual Claims
WorkersCompensationExpenseAccrualClaims
69035000
CY2020Q2 bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
4527000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
4979000
bbsi Workers Compensation Claim Payments Current Period
WorkersCompensationClaimPaymentsCurrentPeriod
6077000
CY2021Q2 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
73240000
CY2020Q2 bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
135853000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
99005000
bbsi Claim Payments Prior Period
ClaimPaymentsPriorPeriod
165530000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
103984000
bbsi Workers Compensation Claim Payments
WorkersCompensationClaimPayments
171607000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
-379000
bbsi Workers Compensation Change In Claims Incurred In Excess Of Retention Limits
WorkersCompensationChangeInClaimsIncurredInExcessOfRetentionLimits
90000
CY2020Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
336504000
CY2021Q2 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
190818000
CY2020Q2 bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
206521000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
190818000
bbsi Workers Compensation Incurred But Not Reported
WorkersCompensationIncurredButNotReported
206521000
CY2021Q2 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.60
CY2020Q2 bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.61
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.60
bbsi Workers Compensation Percent To Liabilities Incurred But Not Reported
WorkersCompensationPercentToLiabilitiesIncurredButNotReported
0.61
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 assume all risk of loss for claims incurred after June 30, 2021. The agreement continues to June 30, 2022 and includes a renewal commitment through June 30, 2023. The arrangement allows for premium adjustments depending on overall portfolio performance. If claims develop favorably, BBSI can participate in the savings up to $20.0 million for a 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
bbsi Percentage Of Claims Excluded
PercentageOfClaimsExcluded
0.10
CY2021Q2 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
376600000
CY2020Q4 bbsi Insurance Deposit As Security For Future Payment Obligations Under Workers Compensation Program
InsuranceDepositAsSecurityForFuturePaymentObligationsUnderWorkersCompensationProgram
290700000
CY2021Q2 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
58400000
CY2020Q4 bbsi Collateral Securities Maintain To Cover Potential Workers Compensation Claims Losses
CollateralSecuritiesMaintainToCoverPotentialWorkersCompensationClaimsLosses
60100000
CY2021Q2 bbsi Standby Letters Of Credit And Surety Bond
StandbyLettersOfCreditAndSuretyBond
58400000
CY2021Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
315700000
CY2020Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
357700000
bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
2500000
CY2020 bbsi Workers Compensation Claims Incurred In Excess Of Retention Limits
WorkersCompensationClaimsIncurredInExcessOfRetentionLimits
2900000

Files In Submission

Name View Source Status
0001564590-21-040939-index-headers.html Edgar Link pending
0001564590-21-040939-index.html Edgar Link pending
0001564590-21-040939.txt Edgar Link pending
0001564590-21-040939-xbrl.zip Edgar Link pending
bbsi-10q_20210630.htm Edgar Link pending
bbsi-10q_20210630_htm.xml Edgar Link completed
bbsi-20210630.xsd Edgar Link pending
bbsi-20210630_cal.xml Edgar Link unprocessable
bbsi-20210630_def.xml Edgar Link unprocessable
bbsi-20210630_lab.xml Edgar Link unprocessable
bbsi-20210630_pre.xml Edgar Link unprocessable
bbsi-ex101_26.htm Edgar Link pending
bbsi-ex102_321.htm Edgar Link pending
bbsi-ex311_6.htm Edgar Link pending
bbsi-ex312_8.htm Edgar Link pending
bbsi-ex32_7.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
ghwlztff00zv000001.jpg Edgar Link pending
ghwlztff00zv000002.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending