Consolidated Statements of Cash Flows $ in Millions |
12 Months Ended | |||||||||||||||||||
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May 31, 2019
USD ($)
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May 31, 2018
USD ($)
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[3] |
May 31, 2017
USD ($)
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[3] | ||||||||||||||||
| Operating activities | ||||||||||||||||||||
| Net income | $ 1,034.4 | $ 994.1 | [1],[2] | $ 826.3 | [2],[4] | |||||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||
| Depreciation and amortization on property and equipment and intangible assets | 181.5 | 138.0 | [5] | 126.9 | [5] | |||||||||||||||
| Amortization of premiums and discounts on available-for-sale securities, net | 49.0 | 65.4 | [5] | 72.5 | [5] | |||||||||||||||
| Amortization of deferred contract costs | 180.2 | 174.7 | [5] | 169.4 | [5] | |||||||||||||||
| Stock-based compensation costs | 46.2 | 44.6 | [5] | 35.4 | [5] | |||||||||||||||
| Provision/(benefit) for deferred income taxes | 4.7 | (37.2) | [6] | 22.7 | [6] | |||||||||||||||
| Provision for allowance for doubtful accounts | 3.3 | 3.6 | [5] | 4.9 | [5] | |||||||||||||||
| Net realized gains on sales of available-for-sale securities | (0.1) | [5] | (0.1) | [5] | ||||||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||||||||
| Interest receivable | 4.8 | 3.7 | [5] | 0.2 | [5] | |||||||||||||||
| Accounts receivable and PEO unbilled receivables, net | (117.2) | 16.2 | [5] | (103.3) | [5] | |||||||||||||||
| Prepaid expenses and other current assets | 1.0 | 18.0 | [5] | (32.2) | [5] | |||||||||||||||
| Accounts payable and other current liabilities | 77.5 | 42.9 | [5] | 38.2 | [5] | |||||||||||||||
| Deferred costs | (188.5) | (181.8) | [5] | (185.6) | [5] | |||||||||||||||
| Net change in other long-term assets and liabilities | (5.4) | (5.7) | [5] | (14.9) | [5] | |||||||||||||||
| Net cash provided by operating activities | 1,271.5 | 1,276.4 | [5] | 960.4 | [5] | |||||||||||||||
| Investing activities | ||||||||||||||||||||
| Purchases of available-for-sale securities | (35,145.8) | (50,220.2) | [5] | (50,462.3) | [5] | |||||||||||||||
| Proceeds from sales and maturities of available-for-sale securities | 34,638.8 | 51,592.9 | [5] | 49,903.0 | [5] | |||||||||||||||
| Purchases of property and equipment | (123.8) | (154.0) | [5] | (94.3) | [5] | |||||||||||||||
| Acquisition of businesses, net of cash acquired | (992.2) | (180.4) | [5] | |||||||||||||||||
| Purchases of other assets | (5.3) | (39.8) | [5] | (8.6) | [5] | |||||||||||||||
| Net cash (used in)/provided by investing activities | (1,628.3) | 998.5 | [5] | (662.2) | [5] | |||||||||||||||
| Financing activities | ||||||||||||||||||||
| Net change in client fund obligations | (950.6) | 462.4 | [5] | 317.3 | [5] | |||||||||||||||
| Net proceeds from long-term borrowings | 796.3 | |||||||||||||||||||
| Dividends paid | (826.8) | (739.7) | [5] | (662.3) | [5] | |||||||||||||||
| Repurchases of common shares | (56.9) | (143.1) | [5] | (166.2) | [5] | |||||||||||||||
| Activity related to equity-based plans | 29.5 | (3.4) | [5] | 28.5 | [5] | |||||||||||||||
| Net cash used in financing activities | (1,008.5) | (423.8) | [5] | (482.7) | [5] | |||||||||||||||
| Net change in cash, cash equivalents, restricted cash and restricted cash equivalents | (1,365.3) | 1,851.1 | [5] | (184.5) | [5] | |||||||||||||||
| Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of fiscal year | 2,300.5 | [3],[5] | 449.4 | [5] | 633.9 | [5] | ||||||||||||||
| Cash, cash equivalents, restricted cash and restricted cash equivalents, end of fiscal year | 935.2 | 2,300.5 | [5] | 449.4 | [5] | |||||||||||||||
| Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the Consolidated Balance Sheets | ||||||||||||||||||||
| Cash and cash equivalents | 673.6 | 358.2 | [5],[7] | 184.6 | [5] | |||||||||||||||
| Restricted cash | 57.1 | |||||||||||||||||||
| Restricted cash and restricted cash equivalents included in funds held for clients | $ 204.5 | $ 1,942.3 | [5] | $ 264.8 | [5] | |||||||||||||||
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| X | ||||||||||
- Definition Equity activity related to stock-based awards. Includes proceeds from stock option exercises and cash usage related to stock withheld to cover taxes on lapsing of stock-based awards. No definition available.
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| X | ||||||||||
- Definition Net change in client fund obligations. No definition available.
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| X | ||||||||||
- Definition Amount of restricted cash and restricted cash equivalents included in funds held for clients. No definition available.
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| X | ||||||||||
- Definition The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. No definition available.
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| X | ||||||||||
- Definition Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due from borrowers for interest payments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of expenditures made during the current reporting period for benefits that will be received over a period of years. Deferred charges differ from prepaid expenses in that they usually extend over a long period of time and may or may not be regularly recurring costs of operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in noncurrent operating assets after deduction of noncurrent operating liabilities classified as other. No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash outflow for the purchase of or improvements to tangible or intangible assets, used to produce goods or deliver services, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow from sale, maturity, prepayment and call of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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