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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified |
9 Months Ended | |
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Feb. 28, 2015
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Feb. 28, 2014
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| OPERATING ACTIVITIES | ||
| Net income | $ 513.7us-gaap_NetIncomeLoss | $ 481.6us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization on property and equipment and intangible assets | 79.1us-gaap_DepreciationDepletionAndAmortization | 76.7us-gaap_DepreciationDepletionAndAmortization |
| Amortization of premiums and discounts on available-for-sale securities, net | 56.9us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments | 52.3us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments |
| Stock-based compensation costs | 24.0us-gaap_ShareBasedCompensation | 21.7us-gaap_ShareBasedCompensation |
| Benefit from deferred income taxes | (12.8)us-gaap_DeferredIncomeTaxExpenseBenefit | (7.1)us-gaap_DeferredIncomeTaxExpenseBenefit |
| Provision for allowance for doubtful accounts | 1.0us-gaap_ProvisionForDoubtfulAccounts | 1.7us-gaap_ProvisionForDoubtfulAccounts |
| Net realized gains on sales of available-for-sale securities | (0.2)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments | (0.5)us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments |
| Changes in operating assets and liabilities: | ||
| Interest receivable | 4.1us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet | 3.0us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet |
| Accounts receivable | 0.5us-gaap_IncreaseDecreaseInAccountsReceivable | 2.4us-gaap_IncreaseDecreaseInAccountsReceivable |
| Prepaid expenses and other current assets | 1.2us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 36.6us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Accounts payable and other current liabilities | 28.2us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 30.2us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Net change in other assets and liabilities | (2.9)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet | 7.2us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet |
| Net cash provided by operating activities | 692.8us-gaap_NetCashProvidedByUsedInOperatingActivities | 705.8us-gaap_NetCashProvidedByUsedInOperatingActivities |
| INVESTING ACTIVITIES | ||
| Purchases of available-for-sale securities | (23,544.9)us-gaap_PaymentsToAcquireAvailableForSaleSecurities | (21,163.4)us-gaap_PaymentsToAcquireAvailableForSaleSecurities |
| Proceeds from sales and maturities of available-for-sale securities | 23,697.6us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities | 21,718.0us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities |
| Net change in funds held for clients' money market securities and other cash equivalents | (1,078.6)payx_NetChangeInFundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalents | (1,369.6)payx_NetChangeInFundsHeldForClientsMoneyMarketSecuritiesAndOtherCashEquivalents |
| Purchases of property and equipment | (72.0)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (62.8)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Acquisition of businesses, net of cash acquired | (27.1)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (9.3)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
| Purchases of other assets | (2.2)us-gaap_PaymentsToAcquireOtherProductiveAssets | (7.1)us-gaap_PaymentsToAcquireOtherProductiveAssets |
| Net cash used in investing activities | (1,027.2)us-gaap_NetCashProvidedByUsedInInvestingActivities | (894.2)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| FINANCING ACTIVITIES | ||
| Net change in client fund obligations | 891.8payx_NetChangeInClientFundObligations | 841.0payx_NetChangeInClientFundObligations |
| Dividends paid | (414.4)us-gaap_PaymentsOfDividendsCommonStock | (383.4)us-gaap_PaymentsOfDividendsCommonStock |
| Repurchases of common shares | (70.4)us-gaap_PaymentsForRepurchaseOfCommonStock | (203.0)us-gaap_PaymentsForRepurchaseOfCommonStock |
| Equity activity related to stock-based awards | 40.2payx_EquityActivityRelatedToStockBasedAwards | 97.8payx_EquityActivityRelatedToStockBasedAwards |
| Net cash provided by financing activities | 447.2us-gaap_NetCashProvidedByUsedInFinancingActivities | 352.4us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Increase in cash and cash equivalents | 112.8us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 164.0us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents, beginning of period | 152.5us-gaap_CashAndCashEquivalentsAtCarryingValue | 107.3us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents, end of period | $ 265.3us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 271.3us-gaap_CashAndCashEquivalentsAtCarryingValue |
| X | ||||||||||
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- Definition
Equity activity related to stock-based awards. Includes proceeds from stock option exercises, excess tax benefit on exercises or lapses, and stock withheld to cover taxes. No definition available.
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| X | ||||||||||
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- Definition
Net change in client fund obligations. No definition available.
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| X | ||||||||||
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- Definition
Net change in funds held for clients' money market securities and other cash equivalents. No definition available.
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| X | ||||||||||
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- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount due from borrowers for interest payments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for acquisition of or capital improvements on other tangible or intangible assets not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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