Quarterly report pursuant to Section 13 or 15(d)

Service Revenue (Tables)

v3.24.1
Service Revenue (Tables)
9 Months Ended
Feb. 29, 2024
Revenue from Contract with Customer [Abstract]  
Summary of PEO Pass-Through Costs Netted in Revenue

PEO pass-through costs netted within the PEO and Insurance Solutions revenue were as follows:

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Payroll wages and payroll taxes

 

$

 

7,317.0

 

 

$

 

6,944.1

 

 

$

 

20,378.5

 

 

$

 

19,615.2

 

State unemployment insurance (included in payroll wages and payroll taxes)

 

$

 

78.0

 

 

$

 

71.4

 

 

$

 

116.3

 

 

$

 

111.2

 

Guaranteed cost benefit plans

 

$

 

165.6

 

 

$

 

157.8

 

 

$

 

499.4

 

 

$

 

494.8

 

 

Summary of Changes in Deferred Revenue Related to Material Rights Performance Obligations

Changes in deferred revenue related to material rights that exceed one year were as follows:

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

69.8

 

 

$

 

55.2

 

 

$

 

62.0

 

 

$

 

48.9

 

Deferral of revenue

 

 

 

12.4

 

 

 

 

10.9

 

 

 

 

36.3

 

 

 

 

31.0

 

Recognition of unearned revenue

 

 

 

(8.9

)

 

 

 

(7.6

)

 

 

 

(25.0

)

 

 

 

(21.4

)

Balance, end of period

 

$

 

73.3

 

 

$

 

58.5

 

 

$

 

73.3

 

 

$

 

58.5

 

Summary of Deferred Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

In millions

 

Estimated

 

Year ending May 31,

 

recognition of unearned revenue

 

2024

 

$

 

8.4

 

2025

 

 

 

29.7

 

Thereafter

 

 

 

35.2

 

Total recognition of unearned revenue

 

$

 

73.3

 

Summary of Changes in Deferred Costs to Obtain and Fulfill Contracts

Changes in deferred costs to obtain and fulfill contracts were as follows:

 

Costs to obtain contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

605.0

 

 

$

 

562.6

 

 

$

 

597.5

 

 

$

 

550.2

 

Capitalization of costs

 

 

 

53.7

 

 

 

 

65.2

 

 

 

 

163.1

 

 

 

 

172.2

 

Amortization

 

 

 

(51.6

)

 

 

 

(48.9

)

 

 

 

(153.5

)

 

 

 

(143.5

)

Balance, end of period

 

$

 

607.1

 

 

$

 

578.9

 

 

$

 

607.1

 

 

$

 

578.9

 

 

Costs to fulfill contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

75.8

 

 

$

 

74.5

 

 

$

 

75.3

 

 

$

 

72.3

 

Capitalization of costs

 

 

 

7.5

 

 

 

 

8.3

 

 

 

 

21.2

 

 

 

 

23.4

 

Amortization

 

 

 

(6.7

)

 

 

 

(6.6

)

 

 

 

(19.9

)

 

 

 

(19.5

)

Balance, end of period

 

$

 

76.6

 

 

$

 

76.2

 

 

$

 

76.6

 

 

$

 

76.2