Quarterly report [Sections 13 or 15(d)]

Service Revenue (Tables)

v3.25.2
Service Revenue (Tables)
3 Months Ended
Aug. 31, 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

 

 

 

August 31,

 

 

August 31,

 

In millions

 

2025

 

 

2024

 

Payroll wages and payroll taxes

 

$

 

7,356.1

 

 

$

 

6,881.6

 

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

 

$

 

23.7

 

 

$

 

23.0

 

Guaranteed cost benefit plans

 

$

 

175.5

 

 

$

 

165.8

 

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

 

 

 

August 31,

 

 

August 31,

 

In millions

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

92.4

 

 

$

 

74.9

 

Deferral of revenue

 

 

 

12.1

 

 

 

 

7.6

 

Recognition of unearned revenue

 

 

 

(14.5

)

 

 

 

(9.1

)

Balance, end of period

 

$

 

90.0

 

 

$

 

73.4

 

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

In millions

 

Estimated

 

Year ending May 31,

 

recognition of unearned revenue

 

2026

 

$

 

36.0

 

2027

 

 

 

32.9

 

Thereafter

 

 

 

21.1

 

Total recognition of unearned revenue

 

$

 

90.0

 

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

 

 

 

August 31,

 

 

August 31,

 

In millions

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

609.0

 

 

$

 

609.4

 

Capitalization of costs

 

 

 

48.9

 

 

 

 

45.3

 

Amortization

 

 

 

(52.8

)

 

 

 

(51.8

)

Balance, end of period

 

$

 

605.1

 

 

$

 

602.9

 

 

Costs to fulfill contracts:

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

 

 

August 31,

 

 

August 31,

 

In millions

 

2025

 

 

2024

 

Balance, beginning of period

 

$

 

87.0

 

 

$

 

76.6

 

Capitalization of costs

 

 

 

19.6

 

 

 

 

6.3

 

Amortization

 

 

 

(7.6

)

 

 

 

(6.7

)

Balance, end of period

 

$

 

99.0

 

 

$

 

76.2