Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions
 12 Months Ended
May 31, 2011
May 31, 2010
Assets    
Cash and cash equivalents $ 119.0 $ 284.3
Corporate investments 345.0 82.5
Interest receivable 29.4 28.7
Accounts receivable, net of allowance for doubtful accounts 161.1 186.6
Deferred income taxes 5.9 3.8
Prepaid income taxes 1.4 6.7
Prepaid expenses and other current assets 29.4 25.5
Current assets before funds held for clients 691.2 618.1
Funds held for clients 3,566.7 3,541.0
Total current assets 4,257.9 4,159.1
Long-term corporate investments 207.3 290.1
Property and equipment, net of accumulated depreciation 308.7 269.3
Intangible assets, net of accumulated amortization 77.2 61.6
Goodwill 513.7 421.6
Deferred income taxes 25.4 21.1
Other long-term assets 3.6 3.5
Total assets 5,393.8 5,226.3
Liabilities    
Accounts payable 45.4 37.3
Accrued compensation and related items 172.5 163.2
Deferred revenue 3.0 3.5
Deferred income taxes 14.9 17.0
Other current liabilities 38.6 41.2
Current liabilities before client fund obligations 274.4 262.2
Client fund obligations 3,513.9 3,480.0
Total current liabilities 3,788.3 3,742.2
Accrued income taxes 34.1 27.4
Deferred income taxes 23.1 7.8
Other long-term liabilities 52.1 46.9
Total liabilities 3,897.6 3,824.3
Commitments and contingencies - Note M    
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 362.1 shares as of May 31, 2011, and 361.5 shares as of May 31, 2010, respectively 3.6 3.6
Additional paid-in capital 535.6 499.7
Retained earnings 919.5 856.3
Accumulated other comprehensive income 37.5 42.4
Total stockholders' equity 1,496.2 1,402.0
Total liabilities and stockholders' equity $ 5,393.8 $ 5,226.3