Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) (USD $)
In Millions, unless otherwise specified
Nov. 30, 2011
May 31, 2011
ASSETS    
Cash and cash equivalents $ 96.1 $ 119.0
Corporate investments 315.0 345.0
Interest receivable 27.9 29.4
Accounts receivable, net of allowance for doubtful accounts 221.5 161.1
Deferred income taxes 0 5.9
Prepaid income taxes 12.9 1.4
Prepaid expenses and other current assets 33.8 29.4
Current assets before funds held for clients 707.2 691.2
Funds held for clients 3,032.8 3,566.7
Total current assets 3,740.0 4,257.9
Long-term corporate investments 265.2 207.3
Property and equipment, net of accumulated depreciation 316.0 308.7
Intangible assets, net of accumulated amortization 65.7 77.2
Goodwill 513.6 513.7
Deferred income taxes 27.7 25.4
Other long-term assets 3.8 3.6
Total assets 4,932.0 5,393.8
LIABILITIES    
Accounts payable 54.9 45.4
Accrued compensation and related items 147.2 172.5
Deferred revenue 2.5 3.0
Deferred income taxes 22.1 14.9
Other current liabilities 36.0 38.6
Current liabilities before client fund obligations 262.7 274.4
Client fund obligations 2,985.5 3,513.9
Total current liabilities 3,248.2 3,788.3
Accrued income taxes 35.0 34.1
Deferred income taxes 37.1 23.1
Other long-term liabilities 53.0 52.1
Total liabilities 3,373.3 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 November 30, 2011 and 362.1 shares as of May 31, 2011,respectively. 3.6 3.6
Additional paid-in capital 545.4 535.6
Retained earnings 975.8 919.5
Accumulated other comprehensive income 33.9 37.5
Total stockholders' equity 1,558.7 1,496.2
Total liabilities and stockholders' equity $ 4,932.0 $ 5,393.8