Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2025
May 31, 2025
Assets    
Cash and cash equivalents $ 809.0 $ 1,628.6
Restricted cash 50.4 47.9
Corporate investments 861.9 34.5
Interest receivable 34.0 27.9
Accounts receivable, net of allowance for credit losses 1,359.3 1,330.5
PEO unbilled receivables, net of advance collections 609.4 616.6
Prepaid income taxes 9.2 38.9
Prepaid expenses and other current assets 379.4 378.3
Current assets before funds held for clients 4,112.6 4,103.2
Funds held for clients 4,927.4 4,813.3
Total current assets 9,040.0 8,916.5
Property and equipment, net of accumulated depreciation 525.4 511.5
Operating lease right-of-use assets, net of accumulated amortization 64.2 63.8
Intangible assets, net of accumulated amortization 1,886.8 1,947.3
Goodwill 4,523.6 4,514.1
Long-term deferred costs 489.0 482.4
Other long-term assets 134.0 128.5
Total assets 16,663.0 16,564.1
Liabilities    
Accounts payable 120.6 129.8
Accrued corporate compensation and related items 151.7 183.9
Accrued worksite employee compensation and related items 779.7 735.8
Short-term borrowings 18.5 18.6
Long-term debt, net, current portion 399.9 399.8
Deferred revenue 68.8 69.4
Other current liabilities 641.1 552.0
Current liabilities before client fund obligations 2,180.3 2,089.3
Client fund obligations 4,948.4 4,867.0
Total current liabilities 7,128.7 6,956.3
Accrued income taxes 124.9 119.0
Deferred income taxes 518.0 444.7
Long-term borrowings, net of debt issuance costs 4,550.3 4,548.4
Operating lease liabilities 52.9 55.5
Other long-term liabilities 317.6 312.2
Total liabilities 12,692.4 12,436.1
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, 2025 and 360.5 shares as of May 31, 2025 3.6 3.6
Additional paid-in capital 1,921.8 1,901.1
Retained earnings 2,070.2 2,277.0
Accumulated other comprehensive loss (25.0) (53.7)
Total stockholders' equity 3,970.6 4,128.0
Total liabilities and stockholders' equity $ 16,663.0 $ 16,564.1