Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2017
May 31, 2016
Assets    
Cash and cash equivalents $ 189.9 $ 131.5
Corporate investments 214.0 220.6
Interest receivable 32.0 36.1
Accounts receivable, net of allowance for doubtful accounts 429.9 408.6
Prepaid income taxes 33.4 10.5
Prepaid expenses and other current assets 68.0 58.8
Current assets before funds held for clients 967.2 866.1
Funds held for clients 4,784.6 3,997.5
Total current assets 5,751.8 4,863.6
Long-term corporate investments 440.2 441.1
Property and equipment, net of accumulated depreciation 341.6 353.0
Intangible assets, net of accumulated amortization 62.0 69.5
Goodwill 657.1 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 32.7 31.6
Total assets 7,310.3 6,440.8
Liabilities    
Accounts payable 55.9 56.7
Accrued compensation and related items 278.1 247.8
Short-term borrowings 55.4  
Deferred revenue 25.1 26.3
Other current liabilities 84.1 79.8
Current liabilities before client fund obligations 498.6 410.6
Client fund obligations 4,775.1 3,955.3
Total current liabilities 5,273.7 4,365.9
Accrued income taxes 48.0 72.8
Deferred income taxes 17.7 22.1
Other long-term liabilities 74.2 68.3
Total liabilities 5,413.6 4,529.1
Commitments and contingencies - Note J
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.2 shares as of February 28, 2017 and 360.4 shares as of May 31, 2016, respectively. 3.6 3.6
Additional paid-in capital 1,016.6 952.7
Retained earnings 871.9 926.2
Accumulated other comprehensive income 4.6 29.2
Total stockholders' equity 1,896.7 1,911.7
Total liabilities and stockholders' equity $ 7,310.3 $ 6,440.8