Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income and Comprehensive Income

v3.19.3
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Revenue:    
Total service revenue $ 971.5 $ 845.7
Interest on funds held for clients 20.5 17.1
Total revenue 992.0 862.8
Expenses:    
Operating expenses 325.4 265.5
Selling, general and administrative expenses 317.5 277.0
Total expenses 642.9 542.5
Operating income 349.1 320.3
Other (expense)/income, net (4.8) 2.3
Income before income taxes 344.3 322.6
Income taxes 80.1 79.0
Net income 264.2 243.6 [1]
Other comprehensive income, net of tax 26.4 0.4
Comprehensive income $ 290.6 $ 244.0
Basic earnings per share $ 0.74 $ 0.68
Diluted earnings per share $ 0.73 $ 0.67
Weighted-average common shares outstanding 358.6 359.1
Weighted-average common shares outstanding, assuming dilution 361.5 361.5
Management Solutions [Member]    
Revenue:    
Total service revenue $ 724.5 $ 687.7
PEO And Insurance Services [Member]    
Revenue:    
Total service revenue $ 247.0 $ 158.0
[1] Amounts have been adjusted to reflect adoption of Accounting Standards Update (“ASU”) No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force).”