Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2018
May 31, 2017
Assets    
Cash and cash equivalents $ 323.9 $ 184.6
Corporate investments 97.3 138.8
Interest receivable 31.5 35.9
Accounts receivable, net of allowance for doubtful accounts 550.5 507.5
Prepaid income taxes 22.9 45.0
Prepaid expenses and other current assets 77.9 58.3
Current assets before funds held for clients 1,104.0 970.1
Funds held for clients 3,944.7 4,301.9
Total current assets 5,048.7 5,272.0
Long-term corporate investments 405.4 454.0
Property and equipment, net of accumulated depreciation 397.2 337.2
Intangible assets, net of accumulated amortization 105.1 57.6
Goodwill 827.4 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 34.1 30.9
Total assets 6,842.8 6,833.7
Liabilities    
Accounts payable 71.9 57.2
Accrued compensation and related items 356.3 280.5
Short-term borrowings 57.7  
Deferred revenue 23.7 22.9
Other current liabilities 142.2 91.9
Current liabilities before client fund obligations 651.8 452.5
Client fund obligations 3,971.9 4,272.6
Total current liabilities 4,623.7 4,725.1
Accrued income taxes 51.8 45.6
Deferred income taxes 41.9 33.9
Other long-term liabilities 79.9 73.8
Total liabilities 4,797.3 4,878.4
Commitments and contingencies - Note L
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.3 shares as of February 28, 2018 and 359.4 shares as of May 31, 2017 3.6 3.6
Additional paid-in capital 1,107.2 1,030.0
Retained earnings 961.4 901.7
Accumulated other comprehensive (loss)/income (26.7) 20.0
Total stockholders' equity 2,045.5 1,955.3
Total liabilities and stockholders' equity $ 6,842.8 $ 6,833.7