3 unchanged sentences
Dividend Policy
+Added: During 2021, we paid dividends of $144.2 million, including a special cash dividend of $76.7 million paid in the fourth quarter of 2021.
The payment of dividends is made at the discretion of our Board and depends upon our operating results, financial condition, capital requirements, general business conditions and such other factors as our Board deems relevant.
13 unchanged sentences
Unless terminated earlier by resolution of the Board, the repurchase program will expire when we have repurchased all the shares authorized for repurchase under the repurchase program.
−Removed: (2) During the three months ended December 31, 2020, 448 shares of restricted stock and restricted stock units were withheld to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted stock and restricted stock units.
+Added: (2) During the three months ended December 31, 2021, 306 shares were withheld to satisfy tax-withholding obligations arising in conjunction with the vesting of restricted stock and restricted stock units.
The required withholding is calculated using the closing sales price reported by the New York Stock Exchange on the date prior to the applicable vesting date.
18 unchanged sentences
S&P 1500 Composite Human Resource and Employment Services 100.00 133.83 118.16 139.60 140.55 211.68
−Removed: This graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
−Removed: 2020 Form 10-K
−Removed: SELECTED FINANCIAL DATA
−Removed: Selected Financial Data.
−Removed: The selected consolidated financial data set forth below should be read in conjunction with the Consolidated Financial Statements and accompanying Notes and Item 7.
−Removed: “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
−Removed: (in thousands, except per share and statistical data)
−Removed: Year Ended December 31,
−Removed: 2020 2019 2018 2017 2016
−Removed: Income Statement Data:
−Removed: $ 4,287,004 $ 4,314,804 $ 3,828,549 $ 3,300,223 $ 2,941,347
−Removed: 806,854 732,934 681,909 572,731 491,610
−Removed: Operating income
−Removed: 194,689 186,633 179,036 129,941 106,306
−Removed: 151,099 135,413 84,402 65,991
−Removed: 3.54 3.70 3.22 2.01 (2)
−Removed: Non-GAAP Financial Measures (3) :
−Removed: Adjusted net income
−Removed: $ 181,314 $ 169,449 $ 157,536 $ 103,005 $ 76,718
−Removed: 4.64 4.15 3.75 2.45 (2)
−Removed: Adjusted EBITDA
−Removed: 288,620 250,006 239,601 177,681 141,183
−Removed: Balance Sheet Data:
−Removed: Working capital
−Removed: $ 172,344 $ 105,701 $ 94,204 $ 54,206 $ 39,364
−Removed: 1,584,276 1,394,996 1,191,816 1,063,695 907,174
−Removed: 369,400 269,400 144,400 104,400 104,400
−Removed: Total stockholders’ equity
−Removed: 44,132 4,079 77,676 66,321 60,525
−Removed: Cash dividends per share
−Removed: 1.60 1.20 0.80 1.58 (2)(4)
−Removed: Average WSEEs paid
−Removed: 234,223 235,547 209,123 182,696 165,850
−Removed: Statistical Data (per WSEE per month):
−Removed: $ 1,525 $ 1,527 $ 1,526 $ 1,505 $ 1,478
−Removed: 287 259 272 261 247
−Removed: Operating income
−Removed: 69 66 71 59 53
−Removed: Adjusted EBITDA (3)
−Removed: 103 88 95 81 71
−Removed: ____________________________________
−Removed: (1) Revenues are comprised of gross billings less WSEE payroll costs as follows:
−Removed: Year Ended December 31,
−Removed: (in thousands)
−Removed: 2020 2019 2018 2017 2016
−Removed: Gross billings
−Removed: $ 28,168,611 $ 27,212,010 $ 23,830,731 $ 20,173,812 $ 17,932,857
−Removed: WSEE payroll cost
−Removed: 23,881,607 22,897,206 20,002,182 16,873,589 14,991,510
−Removed: $ 4,287,004 $ 4,314,804 $ 3,828,549 $ 3,300,223 $ 2,941,347
−Removed: (2) Adjusted to reflect the two-for-one split of our common stock effected on December 18, 2017 as a stock dividend.
−Removed: (3) These are non-GAAP measures used by management to analyze Insperity’s performance.
−Removed: Please read Item 7.
−Removed: “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Non-GAAP Financial Measures” for a reconciliation of the non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP.
−Removed: (4) Includes a $1.00 per share special dividend paid in 2017.
−Removed: (5) Revenues per WSEE per month are comprised of gross billings per WSEE per month less WSEE payroll costs per WSEE per month as follows:
−Removed: 2020 Form 10-K
−Removed: SELECTED FINANCIAL DATA
−Removed: Year Ended December 31,
−Removed: (per WSEE per month) 2020 2019 2018 2017 2016
−Removed: Gross billings $ 10,022 $ 9,627 $ 9,496 $ 9,202 $ 9,011
−Removed: WSEE payroll cost
−Removed: 8,497 8,100 7,970 7,697 7,533
−Removed: Revenues $ 1,525 $ 1,527 $ 1,526 $ 1,505 $ 1,478
+Added: This graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.
2021 Form 10-K
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.