Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Short-term Financing (Tables)

Short-term Financing (Tables) - Revolving Credit Facility [Member]

6 Months Ended

Nov. 30, 2019

Line of Credit Facility [Line Items]

Description of Credit Facilities



Bank		Borrower ⁽¹⁾		Date Entered		Expiration Date		Maximum Amount Available		Purpose
JP Morgan Chase Bank, N.A. ("JPM")⁽²⁾		Paychex of New York, LLC ("PoNY")		July 31, 2019		July 31, 2024		$1 Billion		To meet short-term funding requirements.
JPM ⁽²⁾		PoNY		August 17, 2017		August 17, 2022		$500 Million		To meet short-term funding requirements.
PNC Bank, National Association ("PNC")		Paychex Advance, LLC		March 17, 2016		March 17, 2020		$150 Million		To finance working capital needs and general corporate purposes.

(1)Borrower is a wholly owned subsidiary of the Company.

(2)JPM acts as the administrative agent for this syndicated credit facility.

JPM $1 Billion Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed


		For the three months ended								For the six months ended
		November 30,								November 30,
$ in millions		2019				2018				2019				2018
Number of days borrowed			10				4				16				10
Maximum amount borrowed		$	694.0			$	483.0			$	694.0			$	483.0
Weighted-average amount borrowed		$	398.4			$	389.8			$	357.1			$	285.7
Weighted-average interest rate			4.99	%			5.12	%			5.09	%			5.06	%

JPM $500 Million Credit Facility [Member] | JP Morgan Chase Bank, N.A. [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed



		For the three months ended								For the six months ended
		November 30,								November 30,
$ in millions		2019				2018				2019				2018
Number of days borrowed			14				3				24				7
Maximum amount borrowed		$	400.0			$	135.5			$	450.0			$	223.0
Weighted-average amount borrowed		$	305.0			$	83.0			$	342.8			$	111.8
Weighted-average interest rate			3.15	%			5.25	%			3.21	%			5.07	%

PNC $150 Million Credit Facility [Member] | PNC Bank, National Association [Member]

Line of Credit Facility [Line Items]

Credit Facility Amount Borrowed


		For the three months ended								For the six months ended
		November 30,								November 30,
$ in millions		2019				2018				2019				2018
Number of days borrowed			91				91				179				179
Maximum amount borrowed		$	56.7			$	57.7			$	56.7			$	57.7
Weighted-average amount borrowed		$	54.3			$	57.3			$	54.6			$	56.6
Weighted-average interest rate			2.74	%			2.68	%			2.90	%			2.61	%