v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2020
May 31, 2019
Assets    
Cash and cash equivalents $ 905.2 $ 673.6
Restricted cash 49.8 50.6
Corporate investments 27.2 39.0
Interest receivable 26.2 27.4
Accounts receivable, net of allowance for doubtful accounts 384.1 420.5
PEO unbilled receivables, net of advance collections 380.0 406.3
Prepaid income taxes 16.8 22.6
Prepaid expenses and other current assets 244.8 233.9
Current assets before funds held for clients 2,034.1 1,873.9
Funds held for clients 3,430.5 3,803.8
Total current assets 5,464.6 5,677.7
Long-term restricted cash 21.3 6.5
Long-term corporate investments 10.2 10.2
Property and equipment, net of accumulated depreciation 407.4 408.7
Operating lease right-of-use assets, net of accumulated amortization 114.8  
Intangible assets, net of accumulated amortization 330.6 399.1
Goodwill 1,791.1 1,782.6
Long-term deferred costs 372.5 366.3
Other long-term assets 38.2 24.9
Total assets 8,550.7 8,676.0
Liabilities    
Accounts payable 79.4 75.9
Accrued corporate compensation and related items 131.7 146.4
Accrued worksite employee compensation and related items 512.4 578.6
Short-term borrowings 5.1  
Accrued income taxes 50.5  
Deferred revenue 39.2 40.3
Other current liabilities 277.6 219.5
Current liabilities before client fund obligations 1,095.9 1,060.7
Client fund obligations 3,331.0 3,784.3
Total current liabilities 4,426.9 4,845.0
Accrued income taxes 33.5 27.3
Deferred income taxes 240.8 223.1
Long-term borrowings, net of debt issuance costs 796.8 796.4
Operating lease liabilities 96.9 13.0
Other long-term liabilities 174.4 151.7
Total liabilities 5,769.3 6,056.5
Commitments and contingencies - Note R
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.8 shares as of May 31, 2020 and 359.3 shares as of May 31, 2019, respectively. 3.6 3.6
Additional paid-in capital 1,289.9 1,206.3
Retained earnings 1,431.4 1,409.5
Accumulated other comprehensive income 56.5 0.1
Total stockholders' equity 2,781.4 2,619.5
Total liabilities and stockholders' equity $ 8,550.7 $ 8,676.0

Source