Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2024
May 31, 2024
Assets    
Cash and cash equivalents $ 1,202.1 $ 1,468.9
Restricted cash 63.1 47.8
Corporate investments 38.0 33.9
Interest receivable 23.7 23.3
Accounts receivable, net of allowance for credit losses 1,256.9 1,059.6
PEO unbilled receivables, net of advance collections 598.9 542.4
Prepaid income taxes 92.2 47.5
Prepaid expenses and other current assets 345.6 321.9
Current assets before funds held for clients 3,620.5 3,545.3
Funds held for clients 3,809.1 3,706.2
Total current assets 7,429.6 7,251.5
Long-term corporate investments   3.7
Property and equipment, net of accumulated depreciation 432.1 411.7
Operating lease right-of-use assets, net of accumulated amortization 46.3 46.9
Intangible assets, net of accumulated amortization 179.8 194.5
Goodwill 1,879.8 1,882.7
Long-term deferred costs 468.0 477.1
Other long-term assets 119.1 115.0
Total assets 10,554.7 10,383.1
Liabilities    
Accounts payable 89.2 104.3
Accrued corporate compensation and related items 112.9 135.0
Accrued worksite employee compensation and related items 704.3 662.4
Short-term borrowings 18.2 18.7
Deferred revenue 50.7 50.2
Other current liabilities 458.9 469.8
Current liabilities before client fund obligations 1,434.2 1,440.4
Client fund obligations 3,895.0 3,868.7
Total current liabilities 5,329.2 5,309.1
Accrued income taxes 113.2 102.6
Deferred income taxes 95.3 86.0
Long-term borrowings, net of debt issuance costs 798.9 798.6
Operating lease liabilities 45.7 49.0
Other long-term liabilities 246.7 236.8
Total liabilities 6,629.0 6,582.1
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.1 shares as of November 30, 2024 and May 31, 2024 3.6 3.6
Additional paid-in capital 1,789.4 1,729.5
Retained earnings 2,224.6 2,213.0
Accumulated other comprehensive loss (91.9) (145.1)
Total stockholders' equity 3,925.7 3,801.0
Total liabilities and stockholders' equity $ 10,554.7 $ 10,383.1