Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2019
May 31, 2018
[2]
Assets    
Cash and cash equivalents $ 696.4 [1] $ 358.2
Restricted cash 68.9  
Corporate investments 35.6 66.0
Interest receivable 23.7 32.2
Accounts receivable, net of allowance for doubtful accounts 821.0 492.4
Prepaid income taxes 5.9 17.0
Prepaid expenses and other current assets 235.0 224.0
Current assets before funds held for clients 1,886.5 1,189.8
Funds held for clients 5,405.5 4,703.8
Total current assets 7,292.0 5,893.6
Long-term restricted cash 65.5  
Long-term corporate investments 20.0 295.5
Property and equipment, net of accumulated depreciation 404.7 393.5
Intangible assets, net of accumulated amortization 420.9 141.4
Goodwill 1,781.5 814.0
Long-term deferred costs 360.0 361.0 [3]
Other long-term assets 18.4 16.4
Total assets 10,363.0 7,915.4
Liabilities    
Accounts payable 73.9 73.7
Accrued compensation and related items 840.3 320.6
Short-term borrowings 53.6  
Deferred revenue 39.4 34.6
Other current liabilities 127.1 132.9
Current liabilities before client fund obligations 1,134.3 561.8
Client fund obligations 5,415.4 4,734.9
Total current liabilities 6,549.7 5,296.7
Accrued income taxes 20.4 18.4
Deferred income taxes 229.2 154.4
Long-term borrowings 800.0  
Other long-term liabilities 165.7 89.1
Total liabilities 7,765.0 5,558.6
Commitments and contingencies - Note M
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.4 shares as of February 28, 2019 and 359.0 shares as of May 31, 2018 3.6 3.6
Additional paid-in capital 1,187.9 1,126.8
Retained earnings 1,425.8 1,262.6
Accumulated other comprehensive loss (19.3) (36.2)
Total stockholders' equity 2,598.0 2,356.8
Total liabilities and stockholders' equity $ 10,363.0 $ 7,915.4
[1] Amounts have been adjusted to reflect the 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)."
[2] Amounts have been adjusted to reflect the adoption of ASC Topic 606.
[3] Amounts were previously reported as a component of other long-term assets on the Consolidated Balance Sheets included in the Company's fiscal 2018 Form 10-K. Long-term deferred costs are separately presented on the Consolidated Balance Sheets contained in this Form 10-Q.