Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
May 31, 2014
May 31, 2013
ASSETS    
Cash and cash equivalents $ 152.5 $ 107.3
Corporate investments 398.7 398.2
Interest receivable 36.3 32.4
Accounts receivable, net of allowance for doubtful accounts 149.4 133.4
Deferred income taxes 12.0 2.3
Prepaid income taxes 17.2 49.9
Prepaid expenses and other current assets 46.7 36.6
Current assets before funds held for clients 812.8 760.1
Funds held for clients 4,198.6 4,072.5
Total current assets 5,011.4 4,832.6
Long-term corporate investments 385.6 369.1
Property and equipment, net of accumulated depreciation 342.2 346.0
Intangible assets, net of accumulated amortization 40.6 45.2
Goodwill 540.3 533.9
Deferred income taxes 37.1 34.1
Other long-term assets 12.9 2.8
Total assets 6,370.1 6,163.7
LIABILITIES    
Accounts payable 48.8 42.7
Accrued compensation and related items 171.7 138.2
Deferred revenue 6.9 5.2
Deferred income taxes 6.6 8.1
Other current liabilities 37.8 34.3
Current liabilities before client fund obligations 271.8 228.5
Client fund obligations 4,167.1 4,039.7
Total current liabilities 4,438.9 4,268.2
Accrued income taxes 28.6 19.7
Deferred income taxes 69.0 53.3
Other long-term liabilities 56.6 48.8
Total liabilities 4,593.1 4,390.0
Commitments and contingencies - Note M      
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 363.0 shares as of May 31, 2014 and 365.4 shares as of May 31, 2013, respectively. 3.6 3.7
Additional paid-in capital 794.4 659.5
Retained earnings 957.5 1,088.5
Accumulated other comprehensive income 21.5 22.0
Total stockholders' equity 1,777.0 1,773.7
Total liabilities and stockholders' equity $ 6,370.1 $ 6,163.7