Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2018
May 31, 2017
Assets    
Cash and cash equivalents $ 358.2 $ 184.6
Corporate investments 66.0 138.8
Interest receivable 32.2 35.9
Accounts receivable, net of allowance for doubtful accounts 531.4 507.5
Prepaid income taxes 17.0 45.0
Prepaid expenses and other current assets 75.8 58.3
Current assets before funds held for clients 1,080.6 970.1
Funds held for clients 4,703.8 4,301.9
Total current assets 5,784.4 5,272.0
Long-term corporate investments 295.5 454.0
Property and equipment, net of accumulated depreciation 393.5 337.2
Intangible assets, net of accumulated amortization 141.4 57.6
Goodwill 814.0 657.1
Prepaid income taxes   24.9
Other long-term assets 34.9 30.9
Total assets 7,463.7 6,833.7
Liabilities    
Accounts payable 74.5 57.2
Accrued compensation and related items 320.6 280.5
Deferred revenue 24.3 22.9
Other current liabilities 132.9 91.9
Current liabilities before client fund obligations 552.3 452.5
Client fund obligations 4,734.9 4,272.6
Total current liabilities 5,287.2 4,725.1
Accrued income taxes 18.4 45.6
Deferred income taxes 48.8 33.9
Other long-term liabilities 84.8 73.8
Total liabilities 5,439.2 4,878.4
Commitments and contingencies - Note P
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.0 shares as of May 31, 2018 and 359.4 shares as of May 31, 2017, respectively. 3.6 3.6
Additional paid-in capital 1,126.8 1,030.0
Retained earnings 930.3 901.7
Accumulated other comprehensive (loss)/income (36.2) 20.0
Total stockholders' equity 2,024.5 1,955.3
Total liabilities and stockholders' equity $ 7,463.7 $ 6,833.7