Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
May 31, 2013
May 31, 2012
ASSETS    
Cash and cash equivalents $ 107.3 $ 108.8
Corporate investments 398.2 207.5
Interest receivable 32.4 30.6
Accounts receivable, net of allowance for doubtful accounts 133.4 142.4
Deferred income taxes 2.3 1.6
Prepaid income taxes 49.9 5.6
Prepaid expenses and other current assets 36.6 35.2
Current assets before funds held for clients 760.1 531.7
Funds held for clients 4,072.5 4,544.2
Total current assets 4,832.6 5,075.9
Long-term corporate investments 369.1 473.7
Property and equipment, net of accumulated depreciation 346.0 324.3
Intangible assets, net of accumulated amortization 45.2 55.8
Goodwill 533.9 517.4
Deferred income taxes 34.1 29.2
Other long-term assets 2.8 3.3
Total assets 6,163.7 6,479.6
LIABILITIES    
Accounts payable 42.7 69.7
Accrued compensation and related items 138.2 130.9
Deferred revenue 5.2 3.0
Deferred income taxes 8.1 13.9
Other current liabilities 34.3 33.8
Current liabilities before client fund obligations 228.5 251.3
Client fund obligations 4,039.7 4,494.4
Total current liabilities 4,268.2 4,745.7
Accrued income taxes 19.7 35.9
Deferred income taxes 53.3 40.6
Other long-term liabilities 48.8 52.9
Total liabilities 4,390.0 4,875.1
Commitments and contingencies - Note M      
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 365.4 shares as of May 31, 2013 and 362.6 shares as of May 31, 2012, respectively. 3.7 3.6
Additional paid-in capital 659.5 561.1
Retained earnings 1,088.5 1,002.1
Accumulated other comprehensive income 22.0 37.7
Total stockholders' equity 1,773.7 1,604.5
Total liabilities and stockholders' equity $ 6,163.7 $ 6,479.6