v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2022
May 31, 2022
ASSETS    
Cash and cash equivalents $ 1,184.2 $ 370.0
Restricted cash 60.1 50.3
Corporate investments 45.8 853.9
Interest receivable 20.6 22.3
Accounts receivable, net of allowance for credit losses 876.4 723.8
PEO unbilled receivables, net of advance collections 476.3 572.1
Prepaid income taxes   34.0
Prepaid expenses and other current assets 286.2 272.3
Current assets before funds held for clients 2,949.6 2,898.7
Funds held for clients 3,135.8 3,682.9
Total current assets 6,085.4 6,581.6
Long-term restricted cash 32.6 25.5
Long-term corporate investments 3.9 5.0
Property and equipment, net of accumulated depreciation 398.1 401.3
Operating lease right-of-use assets, net of accumulated amortization 74.7 78.7
Intangible assets, net of accumulated amortization 212.5 224.6
Goodwill 1,825.3 1,831.5
Long-term deferred costs 441.1 433.3
Other long-term assets 52.3 53.7
Total assets 9,125.9 9,635.2
LIABILITIES    
Accounts payable 84.7 105.7
Accrued corporate compensation and related items 138.7 225.4
Accrued worksite employee compensation and related items 715.0 683.4
Short-term borrowings 10.3 8.7
Accrued income taxes 40.0  
Deferred revenue 40.8 38.4
Other current liabilities 361.4 388.4
Current liabilities before client fund obligations 1,390.9 1,450.0
Client fund obligations 3,311.3 3,819.2
Total current liabilities 4,702.2 5,269.2
Accrued income taxes 61.7 58.1
Deferred income taxes 157.1 165.5
Long-term borrowings, net of debt issuance costs 797.8 797.7
Operating lease liabilities 71.0 74.8
Other long-term liabilities 198.7 184.7
Total liabilities 5,988.5 6,550.0
Commitments and contingencies - Note H
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.4 shares as of August 31, 2022 and 359.9 shares as of May 31, 2022 3.6 3.6
Additional paid-in capital 1,568.9 1,545.9
Retained earnings 1,736.3 1,669.6
Accumulated other comprehensive loss (171.4) (133.9)
Total stockholders' equity 3,137.4 3,085.2
Total liabilities and stockholders' equity $ 9,125.9 $ 9,635.2

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