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

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

9 Months Ended

Feb. 28, 2018



Bank	Borrower (1)	Date Entered	Expiration Date	Maximum Amount Available	Purpose
JP Morgan Chase Bank, N.A.(2)	Paychex of New York, LLC	August 5, 2015	August 5, 2020	$1 Billion	To meet short-term funding requirements.
JP Morgan Chase Bank, N.A.(2)	Paychex of New York, LLC	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.

(1)

Borrower is a wholly owned subsidiary of the Company.

(2)

JP Morgan Chase Bank, N.A. (“JPM”) acts as the administrative agent for this syndicated credit facility.


	For the three months ended						For the nine months ended
	February 28,						February 28,
$ in millions	2018			2017			2018			2017
Number of days borrowed		2			8			21			27
Maximum amount borrowed	$	200.0		$	250.0		$	700.0		$	350.0
Weighted-average amount borrowed	$	125.0		$	81.3		$	311.9		$	183.3
Weighted-average interest rate		4.25	%		2.24	%		4.24	%		2.68	%



	For the three months ended			For the nine months ended
	February 28,			February 28,
$ in millions	2018			2018
Number of days borrowed		19			39
Maximum amount borrowed	$	75.0		$	400.0
Weighted-average amount borrowed	$	75.0		$	147.2
Weighted-average interest rate		2.19	%		2.69	%


	For the three months ended						For the nine months ended
	February 28,						February 28,
$ in millions	2018			2017			2018			2017
Number of days borrowed		90			90			269			267
Maximum amount borrowed	$	59.9		$	55.6		$	59.9		$	55.6
Weighted-average amount borrowed	$	59.1		$	55.3		$	57.6		$	52.6
Weighted-average interest rate		2.01	%		1.27	%		1.83	%		1.13	%