Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2017
May 31, 2017
Assets    
Cash and cash equivalents $ 234.4 $ 184.6
Corporate investments 133.8 138.8
Interest receivable 32.0 35.9
Accounts receivable, net of allowance for doubtful accounts 538.6 507.5
Prepaid income taxes   45.0
Prepaid expenses and other current assets 81.6 58.3
Current assets before funds held for clients 1,020.4 970.1
Funds held for clients 4,953.1 4,301.9
Total current assets 5,973.5 5,272.0
Long-term corporate investments 483.2 454.0
Property and equipment, net of accumulated depreciation 328.6 337.2
Intangible assets, net of accumulated amortization 79.2 57.6
Goodwill 698.0 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 32.1 30.9
Total assets 7,619.5 6,833.7
Liabilities    
Accounts payable 74.6 57.2
Accrued compensation and related items 277.0 280.5
Accrued income taxes 4.1  
Short-term borrowings 57.2  
Deferred revenue 24.7 22.9
Other current liabilities 100.0 91.9
Current liabilities before client fund obligations 537.6 452.5
Client fund obligations 4,918.1 4,272.6
Total current liabilities 5,455.7 4,725.1
Accrued income taxes 47.9 45.6
Deferred income taxes 95.4 33.9
Other long-term liabilities 76.7 73.8
Total liabilities 5,675.7 4,878.4
Commitments and contingencies - Note L
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.9 shares as of August 31, 2017 and 359.4 shares as of May 31, 2017, respectively. 3.6 3.6
Additional paid-in capital 1,072.1 1,030.0
Retained earnings 843.7 901.7
Accumulated other comprehensive income 24.4 20.0
Total stockholders' equity 1,943.8 1,955.3
Total liabilities and stockholders' equity $ 7,619.5 $ 6,833.7