Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.2.0.727
Consolidated Balance Sheets - USD ($)
$ in Millions
May. 31, 2015
May. 31, 2014
ASSETS    
Cash and cash equivalents $ 170.0 $ 152.5
Corporate investments 366.6 398.7
Interest receivable 37.9 36.3
Accounts receivable, net of allowance for doubtful accounts 176.6 149.4
Deferred income taxes 15.0 12.0
Prepaid income taxes 12.9 17.2
Prepaid expenses and other current assets 50.8 37.8
Current assets before funds held for clients 829.8 803.9
Funds held for clients 4,273.4 4,198.6
Total current assets 5,103.2 5,002.5
Long-term corporate investments 399.8 385.6
Property and equipment, net of accumulated depreciation 353.9 342.2
Intangible assets, net of accumulated amortization 32.4 40.6
Goodwill 561.5 540.3
Deferred income taxes 0.0 37.1
Other long-term assets 31.7 21.8
Total assets 6,482.5 6,370.1
LIABILITIES    
Accounts payable 51.7 48.8
Accrued compensation and related items 210.4 171.7
Deferred income taxes 0.0 6.6
Other current liabilities 50.8 44.7
Current liabilities before client fund obligations 312.9 271.8
Client fund obligations 4,260.1 4,167.1
Total current liabilities 4,573.0 4,438.9
Accrued income taxes 44.8 41.9
Deferred income taxes 16.8 55.7
Other long-term liabilities 62.4 56.6
Total liabilities $ 4,697.0 $ 4,593.1
Commitments and contingencies - Note M    
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 361.2 shares as of May 31, 2015 and 363.0 shares as of May 31, 2014, respectively. $ 3.6 $ 3.6
Additional paid-in capital 880.1 794.4
Retained earnings 894.3 957.5
Accumulated other comprehensive income 7.5 21.5
Total stockholders' equity 1,785.5 1,777.0
Total liabilities and stockholders' equity $ 6,482.5 $ 6,370.1