Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.19.3.a.u2
Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2019
May 31, 2019
Assets    
Cash and cash equivalents $ 600.6 $ 673.6
Restricted cash 53.0 50.6
Corporate investments 34.4 39.0
Interest receivable 29.0 27.4
Accounts receivable, net of allowance for doubtful accounts 464.9 420.5
PEO unbilled receivables, net of advance collections 411.7 406.3
Prepaid income taxes 58.6 22.6
Prepaid expenses and other current assets 240.9 233.9
Current assets before funds held for clients 1,893.1 1,873.9
Funds held for clients 3,734.8 3,803.8
Total current assets 5,627.9 5,677.7
Long-term restricted cash 9.7 6.5
Long-term corporate investments 10.1 10.2
Property and equipment, net of accumulated depreciation 401.7 408.7
Operating lease right-of-use assets, net of accumulated amortization 119.2  
Intangible assets, net of accumulated amortization 359.7 399.1
Goodwill 1,785.8 1,782.6
Long-term deferred costs 359.7 366.3
Other long-term assets 27.9 24.9
Total assets 8,701.7 8,676.0
Liabilities    
Accounts payable 76.3 75.9
Accrued corporate compensation and related items 121.5 146.4
Accrued worksite employee compensation and related items 568.3 578.6
Short-term borrowings 51.3  
Deferred revenue 42.2 40.3
Other current liabilities 268.0 219.5
Current liabilities before client fund obligations 1,127.6 1,060.7
Client fund obligations 3,696.3 3,784.3
Total current liabilities 4,823.9 4,845.0
Accrued income taxes 30.6 27.3
Deferred income taxes 226.8 223.1
Long-term borrowings, net of debt issuance costs 796.6 796.4
Operating lease liabilities 100.1 13.0
Other long-term liabilities 154.3 151.7
Total liabilities 6,132.3 6,056.5
Commitments and contingencies - Note N
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.4 shares as of November 30, 2019 and 359.3 shares as of May 31, 2019 3.6 3.6
Additional paid-in capital 1,252.8 1,206.3
Retained earnings 1,301.4 1,409.5
Accumulated other comprehensive income 11.6 0.1
Total stockholders' equity 2,569.4 2,619.5
Total liabilities and stockholders' equity $ 8,701.7 $ 8,676.0