Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2017
May 31, 2017
Assets    
Cash and cash equivalents $ 257.2 $ 184.6
Corporate investments 81.4 138.8
Interest receivable 35.2 35.9
Accounts receivable, net of allowance for doubtful accounts 595.2 507.5
Prepaid income taxes 62.4 45.0
Prepaid expenses and other current assets 73.4 58.3
Current assets before funds held for clients 1,104.8 970.1
Funds held for clients 4,888.2 4,301.9
Total current assets 5,993.0 5,272.0
Long-term corporate investments 480.9 454.0
Property and equipment, net of accumulated depreciation 377.1 337.2
Intangible assets, net of accumulated amortization 77.4 57.6
Goodwill 698.1 657.1
Prepaid income taxes 24.9 24.9
Other long-term assets 33.2 30.9
Total assets 7,684.6 6,833.7
Liabilities    
Accounts payable 58.4 57.2
Accrued compensation and related items 281.2 280.5
Short-term borrowings 133.4  
Deferred revenue 27.0 22.9
Other current liabilities 103.8 91.9
Current liabilities before client fund obligations 603.8 452.5
Client fund obligations 4,897.9 4,272.6
Total current liabilities 5,501.7 4,725.1
Accrued income taxes 50.1 45.6
Deferred income taxes 85.0 33.9
Other long-term liabilities 78.9 73.8
Total liabilities 5,715.7 4,878.4
Commitments and contingencies - Note L
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.2 shares as of November 30, 2017 and 359.4 shares as of May 31, 2017 3.6 3.6
Additional paid-in capital 1,093.5 1,030.0
Retained earnings 881.0 901.7
Accumulated other comprehensive (loss)/income (9.2) 20.0
Total stockholders' equity 1,968.9 1,955.3
Total liabilities and stockholders' equity $ 7,684.6 $ 6,833.7