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
Aug. 31, 2012
May 31, 2012
ASSETS    
Cash and cash equivalents $ 149.0 $ 108.8
Corporate investments 241.9 207.5
Interest receivable 24.0 30.6
Accounts receivable, net of allowance for doubtful accounts 153.1 142.4
Deferred income taxes   1.6
Prepaid income taxes   5.6
Prepaid expenses and other current assets 36.3 35.2
Current assets before funds held for clients 604.3 531.7
Funds held for clients 3,696.1 4,544.2
Total current assets 4,300.4 5,075.9
Long-term corporate investments 480.4 473.7
Property and equipment, net of accumulated depreciation 326.9 324.3
Intangible assets, net of accumulated amortization 51.3 55.8
Goodwill 517.4 517.4
Deferred income taxes 30.5 29.2
Other long-term assets 4.0 3.3
Total assets 5,710.9 6,479.6
LIABILITIES    
Accounts payable 40.7 69.7
Accrued compensation and related items 115.4 130.9
Deferred revenue 2.7 3.0
Accrued income taxes 61.0  
Deferred income taxes 19.5 13.9
Other current liabilities 33.5 33.8
Current liabilities before client fund obligations 272.8 251.3
Client fund obligations 3,646.9 4,494.4
Total current liabilities 3,919.7 4,745.7
Accrued income taxes 42.2 35.9
Deferred income taxes 45.3 40.6
Other long-term liabilities 48.3 52.9
Total liabilities 4,055.5 4,875.1
COMMITMENTS AND CONTINGENCIES - NOTE H      
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 363.5 shares as of August 31, 2012, and 362.6 shares as of May 31, 2012, respectively 3.6 3.6
Additional paid-in capital 581.5 561.1
Retained earnings 1,033.0 1,002.1
Accumulated other comprehensive income 37.3 37.7
Total stockholders' equity 1,655.4 1,604.5
Total liabilities and stockholders' equity $ 5,710.9 $ 6,479.6