v3.23.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2023
May 31, 2023
Assets    
Cash and cash equivalents $ 1,363.1 $ 1,222.0
Restricted cash 47.9 49.8
Corporate investments 34.4 373.4
Interest receivable 23.7 24.4
Accounts receivable, net of allowance for credit losses 1,082.7 873.3
PEO unbilled receivables, net of advance collections 544.4 528.5
Prepaid income taxes 83.5 48.1
Prepaid expenses and other current assets 304.3 289.8
Current assets before funds held for clients 3,484.0 3,409.3
Funds held for clients 5,439.7 4,118.8
Total current assets 8,923.7 7,528.1
Long-term corporate investments 1.6 3.8
Property and equipment, net of accumulated depreciation 417.6 396.3
Operating lease right-of-use assets, net of accumulated amortization 59.4 61.5
Intangible assets, net of accumulated amortization 201.0 187.4
Goodwill 1,882.3 1,834.0
Long-term deferred costs 474.6 470.1
Other long-term assets 91.9 65.2
Total assets 12,052.1 10,546.4
Liabilities    
Accounts payable 92.3 84.7
Accrued corporate compensation and related items 164.1 209.9
Accrued worksite employee compensation and related items 806.2 763.9
Short-term borrowings 13.6 10.2
Deferred revenue 55.1 47.3
Other current liabilities 496.3 395.4
Current liabilities before client fund obligations 1,627.6 1,511.4
Client fund obligations 5,626.8 4,294.0
Total current liabilities 7,254.4 5,805.4
Accrued income taxes 93.2 83.0
Deferred income taxes 103.0 112.1
Long-term borrowings, net of debt issuance costs 798.4 798.2
Operating lease liabilities 53.5 57.3
Other long-term liabilities 225.2 197.2
Total liabilities 8,527.7 7,053.2
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.8 shares as of November 30, 2023 and 360.5 shares as of May 31, 2023 3.6 3.6
Additional paid-in capital 1,678.6 1,626.4
Retained earnings 2,009.4 2,023.1
Accumulated other comprehensive loss (167.2) (159.9)
Total stockholders' equity 3,524.4 3,493.2
Total liabilities and stockholders' equity $ 12,052.1 $ 10,546.4

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