Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Comprehensive Income

v3.20.2
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
May 31, 2020
May 31, 2019
May 31, 2018
Revenue:      
Total service revenue $ 3,953.6 $ 3,691.9 $ 3,314.2
Interest on funds held for clients 86.9 80.6 63.5
Total revenue 4,040.5 3,772.5 3,377.7
Expenses:      
Cost of service revenue 1,280.8 1,177.8 1,018.2
Selling, general and administrative expenses 1,299.2 1,223.4 1,068.0
Total expenses 2,580.0 2,401.2 2,086.2
Operating income 1,460.5 1,371.3 1,291.5
Other (expense)/income, net (23.4) (3.3) 8.6
Income before income taxes 1,437.1 1,368.0 1,300.1
Income taxes 339.0 333.6 306.0
Net income 1,098.1 1,034.4 994.1
Other comprehensive income/(loss), net of tax 56.4 36.3 (56.2)
Comprehensive income $ 1,154.5 $ 1,070.7 $ 937.9
Basic earnings per share $ 3.06 [1] $ 2.88 [1] $ 2.77
Diluted earnings per share $ 3.04 [1] $ 2.86 [1] $ 2.75
Weighted-average common shares outstanding 358.5 359.2 359.0
Weighted-average common shares outstanding, assuming dilution 361.0 361.8 361.5
Management Solutions [Member]      
Revenue:      
Total service revenue $ 2,963.0 $ 2,877.7 $ 2,758.4
PEO And Insurance Solutions [Member]      
Revenue:      
Total service revenue $ 990.6 $ 814.2 $ 555.8
[1] 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.