Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2023
May 31, 2023
Assets    
Cash and cash equivalents $ 1,645.9 $ 1,222.0
Restricted cash 49.8 49.8
Corporate investments 45.7 373.4
Interest receivable 23.4 24.4
Accounts receivable, net of allowance for credit losses 1,015.8 873.3
PEO unbilled receivables, net of advance collections 535.4 528.5
Prepaid income taxes   48.1
Prepaid expenses and other current assets 301.8 289.8
Current assets before funds held for clients 3,617.8 3,409.3
Funds held for clients 5,470.7 4,118.8
Total current assets 9,088.5 7,528.1
Long-term corporate investments 1.6 3.8
Property and equipment, net of accumulated depreciation 404.5 396.3
Operating lease right-of-use assets, net of accumulated amortization 61.6 61.5
Intangible assets, net of accumulated amortization 197.5 187.4
Goodwill 1,881.4 1,834.0
Long-term deferred costs 473.2 470.1
Other long-term assets 91.7 65.2
Total assets 12,200.0 10,546.4
Liabilities    
Accounts payable 95.3 84.7
Accrued corporate compensation and related items 123.0 209.9
Accrued worksite employee compensation and related items 763.9 763.9
Short-term borrowings 13.7 10.2
Accrued income taxes 61.0  
Deferred revenue 51.0 47.3
Other current liabilities 558.1 395.4
Current liabilities before client fund obligations 1,666.0 1,511.4
Client fund obligations 5,677.5 4,294.0
Total current liabilities 7,343.5 5,805.4
Accrued income taxes 88.1 83.0
Deferred income taxes 101.3 112.1
Long-term borrowings, net of debt issuance costs 798.3 798.2
Operating lease liabilities 55.1 57.3
Other long-term liabilities 225.9 197.2
Total liabilities 8,612.2 7,053.2
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 361.2 shares as of August 31, 2023 and 360.5 shares as of May 31, 2023 3.6 3.6
Additional paid-in capital 1,666.4 1,626.4
Retained earnings 2,100.9 2,023.1
Accumulated other comprehensive loss (183.1) (159.9)
Total stockholders' equity 3,587.8 3,493.2
Total liabilities and stockholders' equity $ 12,200.0 $ 10,546.4