Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2020
May 31, 2020
Assets    
Cash and cash equivalents $ 835.7 $ 905.2
Restricted cash 50.8 49.8
Corporate investments 30.6 27.2
Interest receivable 23.6 26.2
Accounts receivable, net of allowance for doubtful accounts 414.8 384.1
PEO unbilled receivables, net of advance collections 417.5 380.0
Prepaid income taxes   16.8
Prepaid expenses and other current assets 252.9 244.8
Current assets before funds held for clients 2,025.9 2,034.1
Funds held for clients 3,314.3 3,430.5
Total current assets 5,340.2 5,464.6
Long-term restricted cash 24.8 21.3
Long-term corporate investments 10.2 10.2
Property and equipment, net of accumulated depreciation 396.0 407.4
Operating lease right-of-use assets, net of accumulated amortization 96.1 114.8
Intangible assets, net of accumulated amortization 314.1 330.6
Goodwill 1,796.8 1,791.1
Long-term deferred costs 368.9 372.5
Other long-term assets 29.8 38.2
Total assets 8,376.9 8,550.7
Liabilities    
Accounts payable 62.0 79.4
Accrued corporate compensation and related items 97.6 131.7
Accrued worksite employee compensation and related items 503.9 512.4
Short-term borrowings 6.1 5.1
Accrued income taxes 51.8 50.5
Deferred revenue 39.6 39.2
Other current liabilities 304.2 277.6
Current liabilities before client fund obligations 1,065.2 1,095.9
Client fund obligations 3,197.9 3,331.0
Total current liabilities 4,263.1 4,426.9
Accrued income taxes 12.0 33.5
Deferred income taxes 243.5 240.8
Long-term borrowings, net of debt issuance costs 796.9 796.8
Operating lease liabilities 95.1 96.9
Other long-term liabilities 187.7 174.4
Total liabilities 5,598.3 5,769.3
Commitments and contingencies - Note H
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.5 shares as of August 31, 2020 and 358.8 shares as of May 31, 2020 3.6 3.6
Additional paid-in capital 1,325.3 1,289.9
Retained earnings 1,370.2 1,431.4
Accumulated other comprehensive income 79.5 56.5
Total stockholders' equity 2,778.6 2,781.4
Total liabilities and stockholders' equity $ 8,376.9 $ 8,550.7