Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Stockholders' Equity

v3.24.2
Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income/(Loss) [Member]
Beginning balance, Shares at May. 31, 2021   359.8      
Beginning balance at May. 31, 2021 $ 2,948.0 $ 3.6 $ 1,446.7 $ 1,445.9 $ 51.8
Net income 1,392.8     1,392.8  
Unrealized (losses) gains on securities, net of tax (benefit) expense (162.3)       (162.3)
Reclassification adjustment for realized gains (losses) on securities, net of tax expense (benefit) [1] (0.1)       (0.1)
Dividends declared (1,000.1)     (1,000.1)  
Repurchases of common shares, Shares [2]   (1.2)      
Repurchases of common shares [2] (145.2) $ 0.0 (5.2) (140.0)  
Stock-based compensation 52.8   52.8    
Foreign currency translation adjustment [3] (23.3)       (23.3)
Activity related to equity-based plans, Shares   1.3      
Activity related to equity-based plans 22.6   51.6 (29.0)  
Ending balance, Shares at May. 31, 2022   359.9      
Ending balance at May. 31, 2022 3,085.2 $ 3.6 1,545.9 1,669.6 (133.9)
Net income 1,557.3     1,557.3  
Unrealized (losses) gains on securities, net of tax (benefit) expense (36.6)       (36.6)
Reclassification adjustment for realized gains (losses) on securities, net of tax expense (benefit) [1] 7.4       7.4
Dividends declared (1,175.5)     (1,175.5)  
Stock-based compensation 62.6   62.6    
Foreign currency translation adjustment [3] 3.2       3.2
Activity related to equity-based plans, Shares   0.6      
Activity related to equity-based plans $ (10.4) $ 0.0 17.9 (28.3)  
Ending balance, Shares at May. 31, 2023 360.5 360.5      
Ending balance at May. 31, 2023 $ 3,493.2 $ 3.6 1,626.4 2,023.1 (159.9)
Net income 1,690.4     1,690.4  
Unrealized (losses) gains on securities, net of tax (benefit) expense 7.6       7.6
Reclassification adjustment for realized gains (losses) on securities, net of tax expense (benefit) [1] 2.0       2.0
Dividends declared (1,315.4)     (1,315.4)  
Repurchases of common shares, Shares [2]   (1.5)      
Repurchases of common shares [2] (169.2) $ 0.0 (6.2) (163.0)  
Stock-based compensation 61.1   61.1    
Foreign currency translation adjustment [3] 5.2       5.2
Activity related to equity-based plans, Shares   1.1      
Activity related to equity-based plans $ 26.1 $ 0.0 48.2 (22.1)  
Ending balance, Shares at May. 31, 2024 360.1 360.1      
Ending balance at May. 31, 2024 $ 3,801.0 $ 3.6 $ 1,729.5 $ 2,213.0 $ (145.1)
[1] Reclassification adjustments out of accumulated other comprehensive income/(loss) for realized (losses)/gains, net of tax, on the sale of available-for-sale (“AFS”) securities are reflected in interest on funds held for clients and other income/(expense), net on the Consolidated Statements of Income and Comprehensive Income.
[2] The Company maintains a program to repurchase up to $400.0 million of its common stock, with authorization expiring May 31, 2027. The Company maintained a separate program to repurchase up to $400.0 million of its common stock which expired on January 31, 2024. The purpose of these programs is to manage common stock dilution. All shares of common stock repurchased were retired.
[3] Foreign currency translation adjustment represented a cumulative loss of $24.4 million, $29.6 million, $32.8 million, and $9.5 million, respectively of the accumulated other comprehensive income/(loss) as of May 31, 2024, 2023, 2022, and 2021. There is no tax impact on our foreign currency translation.