Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2016
May 31, 2016
Assets    
Cash and cash equivalents $ 165.0 $ 131.5
Corporate investments 128.0 220.6
Interest receivable 35.8 36.1
Accounts receivable, net of allowance for doubtful accounts 528.9 408.6
Prepaid income taxes 50.7 10.5
Prepaid expenses and other current assets 65.1 58.8
Current assets before funds held for clients 973.5 866.1
Funds held for clients 3,242.2 3,997.5
Total current assets 4,215.7 4,863.6
Long-term corporate investments 432.1 441.1
Property and equipment, net of accumulated depreciation 349.3 353.0
Intangible assets, net of accumulated amortization 65.2 69.5
Goodwill 657.1 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 31.8 31.6
Total assets 5,776.1 6,440.8
Liabilities    
Accounts payable 48.6 56.7
Accrued compensation and related items 245.3 247.8
Short-term borrowings 103.1  
Deferred revenue 28.5 26.3
Other current liabilities 96.8 79.8
Current liabilities before client fund obligations 522.3 410.6
Client fund obligations 3,261.8 3,955.3
Total current liabilities 3,784.1 4,365.9
Accrued income taxes 83.7 72.8
Deferred income taxes 18.5 22.1
Other long-term liabilities 74.2 68.3
Total liabilities 3,960.5 4,529.1
Commitments and contingencies - Note J
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.8 shares as of November 30, 2016 and 360.4 shares as of May 31, 2016, respectively. 3.6 3.6
Additional paid-in capital 993.9 952.7
Retained earnings 834.9 926.2
Accumulated other comprehensive (loss)/income (16.8) 29.2
Total stockholders' equity 1,815.6 1,911.7
Total liabilities and stockholders' equity $ 5,776.1 $ 6,440.8