Quarterly report pursuant to Section 13 or 15(d)

Service Revenue (Tables)

v3.24.4
Service Revenue (Tables)
6 Months Ended
Nov. 30, 2024
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 were as follows:

 

 

 

For the three months ended

 

 

For the six months ended

 

 

 

November 30,

 

 

November 30,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Payroll wages and payroll taxes

 

$

 

7,172.0

 

 

$

 

6,646.9

 

 

$

 

14,053.6

 

 

$

 

13,061.5

 

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

 

$

 

23.4

 

 

$

 

19.7

 

 

$

 

46.4

 

 

$

 

38.3

 

Guaranteed cost benefit plans

 

$

 

167.5

 

 

$

 

171.3

 

 

$

 

333.3

 

 

$

 

333.8

 

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:

 

 

 

For the three months ended

 

 

For the six months ended

 

 

 

November 30,

 

 

November 30,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

73.4

 

 

$

 

67.0

 

 

$

 

74.9

 

 

$

 

62.0

 

Deferral of revenue

 

 

 

10.0

 

 

 

 

11.0

 

 

 

 

17.6

 

 

 

 

23.9

 

Recognition of unearned revenue

 

 

 

(9.4

)

 

 

 

(8.2

)

 

 

 

(18.5

)

 

 

 

(16.1

)

Balance, end of period

 

$

 

74.0

 

 

$

 

69.8

 

 

$

 

74.0

 

 

$

 

69.8

 

Summary of Deferred Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

In millions

 

Estimated

 

Year ending May 31,

 

recognition of unearned revenue

 

2025

 

$

 

17.9

 

2026

 

 

 

29.0

 

Thereafter

 

 

 

27.1

 

Total recognition of unearned revenue

 

$

 

74.0

 

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 obtain contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

For the six months ended

 

 

 

November 30,

 

 

November 30,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

602.9

 

 

$

 

602.6

 

 

$

 

609.4

 

 

$

 

597.5

 

Capitalization of costs

 

 

 

49.9

 

 

 

 

53.7

 

 

 

 

95.2

 

 

 

 

109.4

 

Amortization

 

 

 

(52.1

)

 

 

 

(51.3

)

 

 

 

(103.9

)

 

 

 

(101.9

)

Balance, end of period

 

$

 

600.7

 

 

$

 

605.0

 

 

$

 

600.7

 

 

$

 

605.0

 

 

 

Costs to fulfill contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

For the six months ended

 

 

 

November 30,

 

 

November 30,

 

In millions

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

 

76.2

 

 

$

 

75.2

 

 

$

 

76.6

 

 

$

 

75.3

 

Capitalization of costs

 

 

 

6.3

 

 

 

 

7.2

 

 

 

 

12.6

 

 

 

 

13.7

 

Amortization

 

 

 

(6.7

)

 

 

 

(6.6

)

 

 

 

(13.4

)

 

 

 

(13.2

)

Balance, end of period

 

$

 

75.8

 

 

$

 

75.8

 

 

$

 

75.8

 

 

$

 

75.8