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Note S — Quarterly Financial Data (Unaudited) In millions, except per share amounts
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Three Months Ended |
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Fiscal 2020 |
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August 31 |
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November 30 |
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February 29 |
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May 31 |
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Full Year |
Service revenue |
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$ |
971.5 |
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$ |
970.8 |
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$ |
1,121.5 |
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$ |
889.8 |
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$ |
3,953.6 |
Interest on funds held for clients |
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20.5 |
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19.9 |
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21.2 |
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25.3 |
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86.9 |
Total revenue |
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$ |
992.0 |
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$ |
990.7 |
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$ |
1,142.7 |
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$ |
915.1 |
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$ |
4,040.5 |
Operating income |
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$ |
349.1 |
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$ |
341.7 |
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$ |
470.1 |
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$ |
299.6 |
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$ |
1,460.5 |
Other expense, net |
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(4.8) |
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(4.7) |
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(5.9) |
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(8.0) |
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(23.4) |
Income before income taxes |
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344.3 |
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337.0 |
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464.2 |
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291.6 |
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1,437.1 |
Income taxes |
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80.1 |
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78.3 |
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109.7 |
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70.9 |
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339.0 |
Net income |
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$ |
264.2 |
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$ |
258.7 |
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$ |
354.5 |
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$ |
220.7 |
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$ |
1,098.1 |
Basic earnings per share(1) |
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$ |
0.74 |
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$ |
0.72 |
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$ |
0.99 |
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$ |
0.62 |
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$ |
3.06 |
Diluted earnings per share(1) |
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$ |
0.73 |
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$ |
0.72 |
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$ |
0.98 |
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$ |
0.61 |
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$ |
3.04 |
Weighted-average common shares
outstanding |
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358.6 |
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358.1 |
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358.5 |
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358.7 |
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358.5 |
Weighted-average common shares
outstanding, assuming dilution |
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361.5 |
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360.6 |
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361.0 |
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360.7 |
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361.0 |
Cash dividends per common share |
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$ |
0.62 |
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$ |
0.62 |
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$ |
0.62 |
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$ |
0.62 |
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$ |
2.48 |
Total net realized gains(2) |
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$ |
0.9 |
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$ |
0.9 |
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$ |
0.6 |
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$ |
8.9 |
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$ |
11.3 |
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Three Months Ended |
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Fiscal 2019 |
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August 31 |
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November 30 |
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February 28 |
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May 31 |
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Full Year |
Service revenue |
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$ |
845.7 |
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$ |
840.6 |
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$ |
1,047.4 |
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$ |
958.2 |
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$ |
3,691.9 |
Interest on funds held for clients |
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17.1 |
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18.3 |
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23.0 |
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22.2 |
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80.6 |
Total revenue |
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$ |
862.8 |
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$ |
858.9 |
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$ |
1,070.4 |
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$ |
980.4 |
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$ |
3,772.5 |
Operating income |
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$ |
320.3 |
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$ |
307.2 |
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$ |
429.3 |
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$ |
314.5 |
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$ |
1,371.3 |
Other income/(expense), net |
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2.3 |
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2.1 |
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(3.7) |
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(4.0) |
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(3.3) |
Income before income taxes |
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322.6 |
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309.3 |
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425.6 |
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310.5 |
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1,368.0 |
Income taxes |
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79.0 |
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73.5 |
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101.0 |
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80.1 |
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333.6 |
Net income |
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$ |
243.6 |
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$ |
235.8 |
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$ |
324.6 |
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$ |
230.4 |
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$ |
1,034.4 |
Basic earnings per share(1) |
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$ |
0.68 |
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$ |
0.66 |
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$ |
0.90 |
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$ |
0.64 |
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$ |
2.88 |
Diluted earnings per share(1) |
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$ |
0.67 |
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$ |
0.65 |
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$ |
0.90 |
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$ |
0.64 |
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$ |
2.86 |
Weighted-average common shares
outstanding |
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359.1 |
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359.1 |
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359.2 |
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359.4 |
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359.2 |
Weighted-average common shares
outstanding, assuming dilution |
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361.5 |
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361.5 |
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361.6 |
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362.5 |
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361.8 |
Cash dividends per common share |
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$ |
0.56 |
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$ |
0.56 |
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$ |
0.56 |
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$ |
0.62 |
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$ |
2.30 |
Total net realized gains/(losses)(2) |
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$ |
0.1 |
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$ |
(0.3) |
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$ |
0.1 |
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$ |
0.1 |
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$ |
— |
(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.
(2)Total net realized gains/(losses) on the combined funds held for clients and corporate investment portfolios.
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