Quarterly report [Sections 13 or 15(d)]

Service Revenue (Tables)

v3.25.1
Service Revenue (Tables)
9 Months Ended
Feb. 28, 2025
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 nine months ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

In millions

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Payroll wages and payroll taxes

 

$

 

7,783.0

 

 

$

 

7,317.0

 

 

$

 

21,836.6

 

 

$

 

20,378.5

 

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

 

$

 

81.5

 

 

$

 

78.0

 

 

$

 

127.9

 

 

$

 

116.3

 

Guaranteed cost benefit plans

 

$

 

172.6

 

 

$

 

165.6

 

 

$

 

505.9

 

 

$

 

499.4

 

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 nine months ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

In millions

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

74.0

 

 

$

 

69.8

 

 

$

 

74.9

 

 

$

 

62.0

 

Deferral of revenue

 

 

 

11.5

 

 

 

 

12.4

 

 

 

 

29.1

 

 

 

 

36.3

 

Recognition of unearned revenue

 

 

 

(9.9

)

 

 

 

(8.9

)

 

 

 

(28.4

)

 

 

 

(25.0

)

Balance, end of period

 

$

 

75.6

 

 

$

 

73.3

 

 

$

 

75.6

 

 

$

 

73.3

 

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

In millions

 

Estimated

 

Year ending May 31,

 

recognition of unearned revenue

 

2025

 

$

 

9.4

 

2026

 

 

 

32.1

 

Thereafter

 

 

 

34.1

 

Total recognition of unearned revenue

 

$

 

75.6

 

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 nine months ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

In millions

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

600.7

 

 

$

 

605.0

 

 

$

 

609.4

 

 

$

 

597.5

 

Capitalization of costs

 

 

 

59.0

 

 

 

 

53.7

 

 

 

 

154.2

 

 

 

 

163.1

 

Amortization

 

 

 

(52.6

)

 

 

 

(51.6

)

 

 

 

(156.5

)

 

 

 

(153.5

)

Balance, end of period

 

$

 

607.1

 

 

$

 

607.1

 

 

$

 

607.1

 

 

$

 

607.1

 

 

Costs to fulfill contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

For the nine months ended

 

 

 

February 28,

 

 

February 29,

 

 

February 28,

 

 

February 29,

 

In millions

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

75.8

 

 

$

 

75.8

 

 

$

 

76.6

 

 

$

 

75.3

 

Capitalization of costs

 

 

 

6.9

 

 

 

 

7.5

 

 

 

 

19.5

 

 

 

 

21.2

 

Amortization

 

 

 

(6.7

)

 

 

 

(6.7

)

 

 

 

(20.1

)

 

 

 

(19.9

)

Balance, end of period

 

$

 

76.0

 

 

$

 

76.6

 

 

$

 

76.0

 

 

$

 

76.6