Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2016
May 31, 2015
Assets    
Cash and cash equivalents $ 131.5 $ 170.0
Corporate investments 220.6 366.6
Interest receivable 36.1 37.9
Accounts receivable, net of allowance for doubtful accounts 408.6 176.6
Prepaid income taxes 10.5 12.9
Prepaid expenses and other current assets 58.8 50.8
Current assets before funds held for clients 866.1 814.8
Funds held for clients 3,997.5 4,273.4
Total current assets 4,863.6 5,088.2
Long-term corporate investments 441.1 399.8
Property and equipment, net of accumulated depreciation 353.0 353.9
Intangible assets, net of accumulated amortization 69.5 32.4
Goodwill 657.1 561.5
Prepaid income taxes 24.9  
Other long-term assets 31.6 31.7
Total assets 6,440.8 6,467.5
Liabilities    
Accounts payable 56.7 51.7
Accrued compensation and related items 247.8 210.4
Deferred revenue 26.3 11.2
Other current liabilities 79.8 39.6
Current liabilities before client fund obligations 410.6 312.9
Client fund obligations 3,955.3 4,260.1
Total current liabilities 4,365.9 4,573.0
Accrued income taxes 72.8 44.8
Deferred income taxes 22.1 1.8
Other long-term liabilities 68.3 62.4
Total liabilities 4,529.1 4,682.0
Commitments and contingencies - Note N
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.4 shares as of May 31, 2016 and 361.2 shares as of May 31, 2015, respectively. 3.6 3.6
Additional paid-in capital 952.7 880.1
Retained earnings 926.2 894.3
Accumulated other comprehensive income 29.2 7.5
Total stockholders' equity 1,911.7 1,785.5
Total liabilities and stockholders' equity $ 6,440.8 $ 6,467.5