Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data (Quarterly Financial Data) (Details)

v3.19.2
Quarterly Financial Data (Quarterly Financial Data) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 12 Months Ended
May 31, 2019
Feb. 28, 2019
Nov. 30, 2018
Aug. 31, 2018
May 31, 2018
[1]
Feb. 28, 2018
[1]
Nov. 30, 2017
[1]
Aug. 31, 2017
[1]
May 31, 2019
May 31, 2018
[1]
May 31, 2017
Quarterly Financial Data [Abstract]                      
Service revenue $ 958.2 $ 1,047.4 $ 840.6 $ 845.7 $ 828.0 $ 918.0 $ 789.0 $ 779.2 $ 3,691.9 $ 3,314.2 [2] $ 3,102.4 [2],[3]
Interest on funds held for clients 22.2 23.0 18.3 17.1 17.7 18.1 14.0 13.7 80.6 63.5 [2] 50.6 [2]
Total revenue 980.4 1,070.4 858.9 862.8 845.7 936.1 803.0 792.9 3,772.5 3,377.7 [2] 3,153.0 [2]
Operating income 314.5 429.3 307.2 320.3 302.1 369.0 303.1 317.3 1,371.3 1,291.5 [2] 1,253.9 [2]
Interest (expense)/income, net (4.0) (3.7) 2.1 2.3 2.5 2.3 1.7 2.1 (3.3) 8.6 [2] 5.2 [2]
Income before income taxes 310.5 425.6 309.3 322.6 304.6 371.3 304.8 319.4 1,368.0 1,300.1 [2] 1,259.1 [2]
Income taxes 80.1 101.0 73.5 79.0 86.9 [4] 4.1 [4] 106.0 [4] 109.0 [4] 333.6 306.0 [2],[4] 432.8 [2],[5]
Net income $ 230.4 $ 324.6 $ 235.8 $ 243.6 $ 217.7 $ 367.2 $ 198.8 $ 210.4 $ 1,034.4 $ 994.1 [2],[6] $ 826.3 [2],[3],[6]
Earnings per share, basic $ 0.64 [7] $ 0.90 [7] $ 0.66 [7] $ 0.68 [7] $ 0.61 [7] $ 1.02 [7] $ 0.55 [7] $ 0.59 [7] $ 2.88 [7] $ 2.77 [2],[7] $ 2.30 [2],[3]
Diluted earnings per share $ 0.64 [7] $ 0.90 [7] $ 0.65 [7] $ 0.67 [7] $ 0.60 [7] $ 1.01 [7] $ 0.55 [7] $ 0.58 [7] $ 2.86 [7] $ 2.75 [2],[7] $ 2.28 [2],[3],[8]
Weighted-average common shares outstanding 359.4 359.2 359.1 359.1 359.0 359.2 359.1 358.9 359.2 359.0 [2] 359.8 [2],[3]
Weighted-average common shares outstanding, assuming dilution 362.5 361.6 361.5 361.5 361.5 362.0 361.4 361.3 361.8 361.5 [2] 362.6 [2],[3]
Quarterly dividend per share $ 0.62 $ 0.56 $ 0.56 $ 0.56 $ 0.56 $ 0.50 $ 0.50 $ 0.50 $ 2.30 $ 2.06  
Total net realized gains $ 0.1 [9] $ 0.1 [9] $ (0.3) [9] $ 0.1 [9]   $ 0.1 [9]       $ 0.1 [9] $ 0.1
[1] Amounts have been adjusted to reflect the adoption of ASC Topic 606.
[2] Amounts have been adjusted to reflect the adoption of Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers" ("ASC Topic 606").
[3] Amounts have been adjusted to reflect the adoption of ASC Topic 606.
[4] As a result of the Tax Act, the effective income tax rate for the three months ended February 28, 2018 was significantly impacted by certain one-time net tax benefits. Refer to Note K of this Item 8 for further details.
[5] Amounts have been adjusted to reflect the adoption of ASC Topic 606.
[6] Amounts have been adjusted to reflect the adoption of Accounting Standards Update ("ASU") No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)."
[7] Each quarter is a discrete period and the sum of the four quarters' basic and diluted earnings per share amounts may not equal the full year amount.
[8] Diluted earnings per share amounts may not add across by +/- $0.01 due to rounding.
[9] Total net realized gains/(losses) on the combined funds held for clients and corporate investment portfolios.