Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Nov. 30, 2015
May. 31, 2015
ASSETS    
Cash and cash equivalents $ 412.3 $ 170.0
Corporate investments 64.1 366.6
Interest receivable 36.7 37.9
Accounts receivable, net of allowance for doubtful accounts 241.1 176.6
Deferred income taxes 0.0 15.0
Prepaid income taxes 65.5 12.9
Prepaid expenses and other current assets 62.7 50.8
Current assets before funds held for clients 882.4 829.8
Funds held for clients 3,720.1 4,273.4
Total current assets 4,602.5 5,103.2
Long-term corporate investments 436.5 399.8
Property and equipment, net of accumulated depreciation 352.7 353.9
Intangible assets, net of accumulated amortization 31.3 32.4
Goodwill 561.5 561.5
Other long-term assets 32.3 31.7
Total assets 6,016.8 6,482.5
LIABILITIES    
Accounts payable 47.4 51.7
Accrued compensation and related items 194.0 210.4
Deferred income taxes 15.8 0.0
Other current liabilities 63.2 50.8
Current liabilities before client fund obligations 320.4 312.9
Client fund obligations 3,689.5 4,260.1
Total current liabilities 4,009.9 4,573.0
Accrued income taxes 67.2 44.8
Deferred income taxes 14.4 16.8
Other long-term liabilities 67.0 62.4
Total liabilities $ 4,158.5 $ 4,697.0
COMMITMENTS AND CONTINGENCIES - NOTE I
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.9 shares as of November 30, 2015 and 361.2 shares as of May 31, 2015, respectively. $ 3.6 $ 3.6
Additional paid-in capital 920.5 880.1
Retained earnings 913.9 894.3
Accumulated other comprehensive income 20.3 7.5
Total stockholders' equity 1,858.3 1,785.5
Total liabilities and stockholders' equity $ 6,016.8 $ 6,482.5