Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
May 31, 2012
May 31, 2011
Assets    
Cash and cash equivalents $ 108.8 $ 119.0
Corporate investments 207.5 345.0
Interest receivable 30.6 29.4
Accounts receivable, net of allowance for doubtful accounts 142.4 161.1
Deferred income taxes 1.6 5.9
Prepaid income taxes 5.6 1.4
Prepaid expenses and other current assets 35.2 29.4
Current assets before funds held for clients 531.7 691.2
Funds held for clients 4,544.2 3,566.7
Total current assets 5,075.9 4,257.9
Long-term corporate investments 473.7 207.3
Property and equipment, net of accumulated depreciation 324.3 308.7
Intangible assets, net of accumulated amortization 55.8 77.2
Goodwill 517.4 513.7
Deferred income taxes 29.2 25.4
Other long-term assets 3.3 3.6
Total assets 6,479.6 5,393.8
Liabilities    
Accounts payable 69.7 45.4
Accrued compensation and related items 130.9 172.5
Deferred revenue 3.0 3.0
Deferred income taxes 13.9 14.9
Other current liabilities 33.8 38.6
Current liabilities before client fund obligations 251.3 274.4
Client fund obligations 4,494.4 3,513.9
Total current liabilities 4,745.7 3,788.3
Accrued income taxes 35.9 34.1
Deferred income taxes 40.6 23.1
Other long-term liabilities 52.9 52.1
Total liabilities 4,875.1 3,897.6
Commitments and contingencies - Note M      
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 362.6 shares as of May 31, 2012, and 362.1 shares as of May 31, 2011, respectively 3.6 3.6
Additional paid-in capital 561.1 535.6
Retained earnings 1,002.1 919.5
Accumulated other comprehensive income 37.7 37.5
Total stockholders' equity 1,604.5 1,496.2
Total liabilities and stockholders' equity $ 6,479.6 $ 5,393.8