Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Aug. 31, 2018
May 31, 2018
Assets    
Cash and cash equivalents $ 440.1 $ 358.2 [1]
Corporate investments 82.9 66.0 [1]
Interest receivable 29.1 32.2 [1]
Accounts receivable, net of allowance for doubtful accounts 535.2 492.4 [1]
Prepaid income taxes [1]   17.0
Prepaid expenses and other current assets 225.1 224.0 [1]
Current assets before funds held for clients 1,312.4 1,189.8 [1]
Funds held for clients 3,763.8 4,703.8 [1]
Total current assets 5,076.2 5,893.6 [1]
Long-term corporate investments 264.6 295.5 [1]
Property and equipment, net of accumulated depreciation 389.1 393.5 [1]
Intangible assets, net of accumulated amortization 135.5 141.4 [1]
Goodwill 813.3 814.0 [1]
Long-term deferred costs 355.6 361.0 [1],[2]
Other long-term assets 15.7 16.4 [1]
Total assets 7,050.0 7,915.4 [1]
Liabilities    
Accounts payable 62.6 73.7 [1]
Accrued compensation and related items 283.2 320.6 [1]
Accrued income taxes 51.6  
Short-term borrowings 56.7  
Deferred revenue 36.6 34.6 [1]
Other current liabilities 114.2 132.9 [1]
Current liabilities before client fund obligations 604.9 561.8 [1]
Client fund obligations 3,792.5 4,734.9 [1]
Total current liabilities 4,397.4 5,296.7 [1]
Accrued income taxes 19.1 18.4 [1]
Deferred income taxes 155.5 154.4 [1]
Other long-term liabilities 91.0 89.1 [1]
Total liabilities 4,663.0 5,558.6 [1]
Commitments and contingencies - Note M [1]
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.0 shares as of August 31, 2018 and May 31, 2018 3.6 3.6 [1]
Additional paid-in capital 1,151.1 1,126.8 [1]
Retained earnings 1,268.1 1,262.6 [1]
Accumulated other comprehensive loss (35.8) (36.2) [1]
Total stockholders' equity 2,387.0 2,356.8 [1]
Total liabilities and stockholders' equity $ 7,050.0 $ 7,915.4 [1]
[1] Amounts have been adjusted to reflect the adoption of ASC Topic 606.
[2] Amounts were previously reported as a component of other long-term assets on the Consolidated Balance Sheets included in the Company's fiscal 2018 Form 10-K. Long-term deferred costs are separately stated on the Consolidated Balance Sheets contained in this Form 10-Q.