Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2025
May 31, 2024
Assets    
Cash and cash equivalents $ 1,628.6 $ 1,468.9
Restricted cash 47.9 47.8
Corporate investments 34.5 33.9
Interest receivable 27.9 23.3
Accounts receivable, net of allowance for credit losses 1,330.5 1,059.6
PEO unbilled receivables, net of advance collections 616.6 542.4
Prepaid income taxes 38.9 47.5
Prepaid expenses and other current assets 378.3 321.9
Current assets before funds held for clients 4,103.2 3,545.3
Funds held for clients 4,813.3 3,706.2
Total current assets 8,916.5 7,251.5
Long-term corporate investments 0.0 3.7
Property and equipment, net of accumulated depreciation 511.5 411.7
Operating lease right-of-use assets, net of accumulated amortization 63.8 46.9
Intangible assets, net of accumulated amortization 1,947.3 194.5
Goodwill 4,514.1 1,882.7
Long-term deferred costs 482.4 477.1
Other long-term assets 128.5 115.0
Total assets 16,564.1 10,383.1
Liabilities    
Accounts payable 129.8 104.3
Accrued corporate compensation and related items 183.9 135.0
Accrued worksite employee compensation and related items 735.8 662.4
Short-term debt 18.6 18.7
Long-term debt, net, current portion 399.8 0.0
Deferred revenue 69.4 50.2
Other current liabilities 552.0 469.8
Current liabilities before client fund obligations 2,089.3 1,440.4
Client fund obligations 4,867.0 3,868.7
Total current liabilities 6,956.3 5,309.1
Accrued income taxes 119.0 102.6
Deferred income taxes 444.7 86.0
Long-term debt, net of debt issuance costs 4,548.4 798.6
Operating lease liabilities 55.5 49.0
Other long-term liabilities 312.2 236.8
Total liabilities 12,436.1 6,582.1
Commitments and contingencies - Note Q
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.5 shares as of May 31, 2025 and 360.1 shares as of May 31, 2024 3.6 3.6
Additional paid-in capital 1,901.1 1,729.5
Retained earnings 2,277.0 2,213.0
Accumulated other comprehensive loss (53.7) (145.1)
Total stockholders' equity 4,128.0 3,801.0
Total liabilities and stockholders' equity $ 16,564.1 $ 10,383.1