Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Short-term Financing (Tables)

Short-term Financing (Tables) - Revolving Credit Facility [Member]

3 Months Ended

Aug. 31, 2019

Line of Credit Facility [Line Items]

Description of Credit Facilities



Bank		Borrower ⁽¹⁾		Date Entered		Expiration Date		Maximum Amount Available		Purpose
JP Morgan Chase Bank, N.A. ("JPM")⁽²⁾		Paychex of New York, LLC ("PoNY")		July 31, 2019		July 31, 2024		$1 Billion		To meet short-term funding requirements.
JPM ⁽²⁾		PoNY		August 17, 2017		August 17, 2022		$500 Million		To meet short-term funding requirements.
PNC Bank, National Association ("PNC")		Paychex Advance, LLC		March 17, 2016		March 17, 2020		$150 Million		To finance working capital needs and general corporate purposes.
JPM⁽²⁾		PoNY		August 5, 2015		July 31, 2019		$1 Billion		To meet short-term funding requirements.

(1)Borrower is a wholly owned subsidiary of the Company.

(2)JPM acts as the administrative agent for this syndicated credit facility.

JPM $1 Billion Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed


		For the three months ended
		August 31,
$ in millions		2019				2018
Number of days borrowed			6				6
Maximum amount borrowed		$	469.0			$	394.5
Weighted-average amount borrowed		$	288.3			$	216.3
Weighted-average interest rate			5.33	%			4.99	%

JPM $500 Million Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed



		For the three months ended
		August 31,
$ in millions		2019				2018
Number of days borrowed			10				4
Maximum amount borrowed		$	450.0			$	223.0
Weighted-average amount borrowed		$	395.6			$	133.4
Weighted-average interest rate			3.27	%			4.99	%

PNC $150 Million Credit Facility [Member] | PNC Bank, National Association [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed


		For the three months ended
		August 31,
$ in millions		2019				2018
Number of days borrowed			88				88
Maximum amount borrowed		$	56.6			$	56.8
Weighted-average amount borrowed		$	54.8			$	56.0
Weighted-average interest rate			3.07	%			2.53	%