Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2025
May 31, 2024
Assets    
Cash and cash equivalents $ 1,563.8 $ 1,468.9
Restricted cash 49.1 47.8
Corporate investments 37.2 33.9
Interest receivable 22.6 23.3
Accounts receivable, net of allowance for credit losses 1,244.8 1,059.6
PEO unbilled receivables, net of advance collections 597.9 542.4
Prepaid income taxes 18.3 47.5
Prepaid expenses and other current assets 359.4 321.9
Current assets before funds held for clients 3,893.1 3,545.3
Funds held for clients 4,183.9 3,706.2
Total current assets 8,077.0 7,251.5
Long-term corporate investments   3.7
Property and equipment, net of accumulated depreciation 451.2 411.7
Operating lease right-of-use assets, net of accumulated amortization 48.2 46.9
Intangible assets, net of accumulated amortization 175.6 194.5
Goodwill 1,877.8 1,882.7
Long-term deferred costs 472.3 477.1
Other long-term assets 119.5 115.0
Total assets 11,221.6 10,383.1
Liabilities    
Accounts payable 118.7 104.3
Accrued corporate compensation and related items 157.8 135.0
Accrued worksite employee compensation and related items 746.8 662.4
Short-term borrowings 17.6 18.7
Deferred revenue 51.7 50.2
Other current liabilities 455.3 469.8
Current liabilities before client fund obligations 1,547.9 1,440.4
Client fund obligations 4,251.8 3,868.7
Total current liabilities 5,799.7 5,309.1
Accrued income taxes 118.2 102.6
Deferred income taxes 93.0 86.0
Long-term borrowings, net of debt issuance costs 799.0 798.6
Operating lease liabilities 47.1 49.0
Other long-term liabilities 248.0 236.8
Total liabilities 7,105.0 6,582.1
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.2 shares as of February 28, 2025 and 360.1 shares May 31, 2024 3.6 3.6
Additional paid-in capital 1,814.8 1,729.5
Retained earnings 2,387.8 2,213.0
Accumulated other comprehensive loss (89.6) (145.1)
Total stockholders' equity 4,116.6 3,801.0
Total liabilities and stockholders' equity $ 11,221.6 $ 10,383.1