Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Assets    
Cash and cash equivalents $ 1,459.6 $ 1,468.9
Restricted cash 54.9 47.8
Corporate investments 38.4 33.9
Interest receivable 22.9 23.3
Accounts receivable, net of allowance for credit losses 1,126.2 1,059.6
PEO unbilled receivables, net of advance collections 553.8 542.4
Prepaid income taxes   47.5
Prepaid expenses and other current assets 342.4 321.9
Current assets before funds held for clients 3,598.2 3,545.3
Funds held for clients 3,763.2 3,706.2
Total current assets 7,361.4 7,251.5
Long-term corporate investments   3.7
Property and equipment, net of accumulated depreciation 417.4 411.7
Operating lease right-of-use assets, net of accumulated amortization 49.5 46.9
Intangible assets, net of accumulated amortization 187.7 194.5
Goodwill 1,884.9 1,882.7
Long-term deferred costs 471.0 477.1
Other long-term assets 117.2 115.0
Total assets 10,489.1 10,383.1
Liabilities    
Accounts payable 80.9 104.3
Accrued corporate compensation and related items 120.8 135.0
Accrued worksite employee compensation and related items 677.2 662.4
Short-term borrowings 18.9 18.7
Accrued income taxes 73.5  
Deferred revenue 50.3 50.2
Other current liabilities 478.7 469.8
Current liabilities before client fund obligations 1,500.3 1,440.4
Client fund obligations 3,843.6 3,868.7
Total current liabilities 5,343.9 5,309.1
Accrued income taxes 108.6 102.6
Deferred income taxes 95.1 86.0
Long-term borrowings, net of debt issuance costs 798.7 798.6
Operating lease liabilities 49.4 49.0
Other long-term liabilities 243.0 236.8
Total liabilities 6,638.7 6,582.1
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.9 shares as of August 31, 2024 and 360.1 shares as of May 31, 2024 3.6 3.6
Additional paid-in capital 1,761.7 1,729.5
Retained earnings 2,165.4 2,213.0
Accumulated other comprehensive loss (80.3) (145.1)
Total stockholders' equity 3,850.4 3,801.0
Total liabilities and stockholders' equity $ 10,489.1 $ 10,383.1