v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2022
May 31, 2021
ASSETS    
Cash and cash equivalents $ 267.5 $ 995.2
Restricted cash 55.8 51.3
Corporate investments 1,086.0 36.7
Interest receivable 20.4 24.4
Accounts receivable, net of allowance for credit losses 720.9 578.3
PEO unbilled receivables, net of advance collections 463.4 450.9
Prepaid income taxes 41.7 33.5
Prepaid expenses and other current assets 277.5 249.2
Current assets before funds held for clients 2,933.2 2,419.5
Funds held for clients 4,304.1 3,750.0
Total current assets 7,237.3 6,169.5
Long-term restricted cash 25.5 37.0
Long-term corporate investments 5.1 7.1
Property and equipment, net of accumulated depreciation 399.5 395.8
Operating lease right-of-use assets, net of accumulated amortization 84.0 103.0
Intangible assets, net of accumulated amortization 234.8 275.8
Goodwill 1,831.8 1,820.7
Long-term deferred costs 414.1 384.1
Other long-term assets 51.6 34.2
Total assets 10,283.7 9,227.2
LIABILITIES    
Accounts payable 111.4 89.0
Accrued corporate compensation and related items 177.2 209.7
Accrued worksite employee compensation and related items 636.0 586.4
Short-term borrowings 8.7 7.4
Deferred revenue 37.1 37.9
Other current liabilities 382.4 336.8
Current liabilities before client fund obligations 1,352.8 1,267.2
Client fund obligations 4,335.1 3,671.0
Total current liabilities 5,687.9 4,938.2
Accrued income taxes 56.8 25.8
Deferred income taxes 188.5 218.0
Long-term borrowings, net of debt issuance costs 797.6 797.3
Operating lease liabilities 79.3 92.4
Other long-term liabilities 187.6 207.5
Total liabilities 6,997.7 6,279.2
Commitments and contingencies - Note H
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 361.0 shares as of February 28, 2022 and 359.8 shares as of May 31, 2021 3.6 3.6
Additional paid-in capital 1,530.9 1,446.7
Retained earnings 1,798.5 1,445.9
Accumulated other comprehensive (loss)/income (47.0) 51.8
Total stockholders' equity 3,286.0 2,948.0
Total liabilities and stockholders' equity $ 10,283.7 $ 9,227.2

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