Annual report pursuant to Section 13 and 15(d)

Service Revenue (Tables)

v3.23.2
Service Revenue (Tables)
12 Months Ended
May 31, 2023
Revenue from Contract with Customer [Abstract]  
Summary of PEO Pass-Through Costs Netted in Revenue

PEO pass-through costs netted within the PEO and Insurance Solutions revenue are as follows:

 

 

 

Year ended May 31,

 

In millions

 

2023

 

 

2022

 

 

2021

 

Payroll wages and payroll taxes

 

$

 

26,025.3

 

 

$

 

24,209.3

 

 

$

 

20,706.1

 

State unemployment insurance (included in payroll wages and payroll taxes)

 

$

 

138.2

 

 

$

 

139.1

 

 

$

 

119.0

 

Guaranteed cost benefit plans

 

$

 

656.3

 

 

$

 

641.4

 

 

$

 

586.4

 

 

Summary of Changes in Deferred Revenue Related to Material Rights Performance Obligations

Changes in deferred revenue related to material rights that exceed one year were as follows:

 

 

 

Year ended May 31,

 

In millions

 

2023

 

 

2022

 

Balance, beginning of period

 

$

 

48.9

 

 

$

 

40.2

 

Deferral of revenue

 

 

 

42.1

 

 

 

 

35.0

 

Recognition of unearned revenue

 

 

 

(29.0

)

 

 

 

(26.3

)

Balance, end of period

 

$

 

62.0

 

 

$

 

48.9

 

Summary of Changes in Deferred Costs to Obtain and Fulfill Contracts

Changes in deferred costs to obtain and fulfill contracts were as follows:

 

Costs to fulfill contracts:

 

 

 

 

 

 

 

 

 

 

Year ended May 31,

 

In millions

 

2023

 

 

2022

 

Balance, beginning of period

 

$

 

72.3

 

 

$

 

69.3

 

Capitalization of costs

 

 

 

28.9

 

 

 

 

28.0

 

Amortization

 

 

 

(25.9

)

 

 

 

(25.0

)

Balance, end of period

 

$

 

75.3

 

 

$

 

72.3

 

 

Costs to obtain contracts:

 

 

 

 

 

 

 

 

 

 

Year ended May 31,

 

In millions

 

2023

 

 

2022

 

Balance, beginning of period

 

$

 

550.2

 

 

$

 

488.2

 

Capitalization of costs

 

 

 

240.5

 

 

 

 

239.1

 

Amortization

 

 

 

(193.2

)

 

 

 

(177.1

)

Balance, end of period

 

$

 

597.5

 

 

$

 

550.2