Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

6 Months Ended

Nov. 30, 2015

Line of Credit Facility [Line Items]

As of November 30, 2015, the Company had unused borrowing capacity available under four uncommitted, secured, short-term lines of credit at market rates of interest with financial institutions as follows:



Financial institution	Amount available	Expiration date
JP Morgan Chase Bank, N.A.	$350 million	February 28, 2016
Bank of America, N.A.	$250 million	February 28, 2016
PNC Bank, National Association	$150 million	February 28, 2016
Wells Fargo Bank, National Association	$150 million	February 28, 2016

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of credit facility

During the three and six months ended November 30, 2015 and 2014, the Company borrowed against this facility, and its predecessor facility, one or two times during a quarter overnight as follows:



	For the three months ended November 30,						For the six months ended November 30,
$ in millions	2015			2014			2015			2014
Maximum amount outstanding	$	350.0		$	150.0		$	350.0		$	150.0
Average amount borrowed	$	225.0		$	150.0		$	217.0		$	125.0
Weighted-average interest rate	3.25		%	3.25		%	3.25		%	3.25		%