Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2016
May 31, 2016
Assets    
Cash and cash equivalents $ 130.0 $ 131.5
Corporate investments 367.7 220.6
Interest receivable 31.7 36.1
Accounts receivable, net of allowance for doubtful accounts 485.6 408.6
Prepaid income taxes   10.5
Prepaid expenses and other current assets 62.7 58.8
Current assets before funds held for clients 1,077.7 866.1
Funds held for clients 3,443.3 3,997.5
Total current assets 4,521.0 4,863.6
Long-term corporate investments 446.3 441.1
Property and equipment, net of accumulated depreciation 348.4 353.0
Intangible assets, net of accumulated amortization 65.0 69.5
Goodwill 657.1 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 34.2 31.6
Total assets 6,096.9 6,440.8
Liabilities    
Accounts payable 51.2 56.7
Accrued compensation and related items 245.8 247.8
Accrued income taxes 65.6  
Short-term borrowings 51.3  
Deferred revenue 26.8 26.3
Other current liabilities 84.9 79.8
Current liabilities before client fund obligations 525.6 410.6
Client fund obligations 3,387.6 3,955.3
Total current liabilities 3,913.2 4,365.9
Accrued income taxes 82.1 72.8
Deferred income taxes 41.2 22.1
Other long-term liabilities 72.3 68.3
Total liabilities 4,108.8 4,529.1
Commitments and contingencies - Note J
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 361.7 shares as of August 31, 2016 and 360.4 shares as of May 31, 2016, respectively. 3.6 3.6
Additional paid-in capital 986.4 952.7
Retained earnings 958.9 926.2
Accumulated other comprehensive income 39.2 29.2
Total stockholders' equity 1,988.1 1,911.7
Total liabilities and stockholders' equity $ 6,096.9 $ 6,440.8