Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2017
May 31, 2016
Assets    
Cash and cash equivalents $ 184.6 $ 131.5
Corporate investments 138.8 220.6
Interest receivable 35.9 36.1
Accounts receivable, net of allowance for doubtful accounts 507.5 408.6
Prepaid income taxes 45.0 10.5
Prepaid expenses and other current assets 58.3 58.8
Current assets before funds held for clients 970.1 866.1
Funds held for clients 4,301.9 3,997.5
Total current assets 5,272.0 4,863.6
Long-term corporate investments 454.0 441.1
Property and equipment, net of accumulated depreciation 337.2 353.0
Intangible assets, net of accumulated amortization 57.6 69.5
Goodwill 657.1 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 30.9 31.6
Total assets 6,833.7 6,440.8
Liabilities    
Accounts payable 57.2 56.7
Accrued compensation and related items 280.5 247.8
Deferred revenue 22.9 26.3
Other current liabilities 91.9 79.8
Current liabilities before client fund obligations 452.5 410.6
Client fund obligations 4,272.6 3,955.3
Total current liabilities 4,725.1 4,365.9
Accrued income taxes 45.6 72.8
Deferred income taxes 33.9 22.1
Other long-term liabilities 73.8 68.3
Total liabilities 4,878.4 4,529.1
Commitments and contingencies - Note O
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.4 shares as of May 31, 2017 and 360.4 shares as of May 31, 2016, respectively. 3.6 3.6
Additional paid-in capital 1,030.0 952.7
Retained earnings 901.7 926.2
Accumulated other comprehensive income 20.0 29.2
Total stockholders' equity 1,955.3 1,911.7
Total liabilities and stockholders' equity $ 6,833.7 $ 6,440.8