Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) (USD $)
In Millions
Aug. 31, 2011
May 31, 2011
ASSETS    
Cash and cash equivalents $ 113.1 $ 119.0
Corporate investments 372.0 345.0
Interest receivable 22.1 29.4
Accounts receivable, net of allowance for doubtful accounts 197.9 161.1
Deferred income taxes 0 5.9
Prepaid income taxes 0 1.4
Prepaid expenses and other current assets 33.1 29.4
Current assets before funds held for clients 738.2 691.2
Funds held for clients 3,095.2 3,566.7
Total current assets 3,833.4 4,257.9
Long-term corporate investments 232.9 207.3
Property and equipment, net of accumulated depreciation 310.5 308.7
Intangible assets, net of accumulated amortization 71.3 77.2
Goodwill 513.6 513.7
Deferred income taxes 25.9 25.4
Other long-term assets 3.9 3.6
Total assets 4,991.5 5,393.8
LIABILITIES    
Accounts payable 38.5 45.4
Accrued compensation and related items 146.1 172.5
Deferred revenue 2.7 3.0
Accrued income taxes 57.8 0
Deferred income taxes 18.9 14.9
Other current liabilities 39.0 38.6
Current liabilities before client fund obligations 303.0 274.4
Client fund obligations 3,034.1 3,513.9
Total current liabilities 3,337.1 3,788.3
Accrued income taxes 34.5 34.1
Deferred income taxes 31.7 23.1
Other long-term liabilities 48.9 52.1
Total liabilities 3,452.2 3,897.6
COMMITMENTS AND CONTINGENCIES-NOTE H    
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 362.4 shares as of August 31, 2011 and 362.1 shares as of May 31, 2011, respectively 3.6 3.6
Additional paid-in capital 540.0 535.6
Retained earnings 951.5 919.5
Accumulated other comprehensive income 44.2 37.5
Total stockholders' equity 1,539.3 1,496.2
Total liabilities and stockholders' equity $ 4,991.5 $ 5,393.8