Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2025
May 31, 2025
Assets    
Cash and cash equivalents $ 1,485.6 $ 1,628.6
Restricted cash 50.7 47.9
Corporate investments 37.6 34.5
Interest receivable 35.0 27.9
Accounts receivable, net of allowance for credit losses 1,355.5 1,330.5
PEO unbilled receivables, net of advance collections 640.0 616.6
Prepaid income taxes 56.8 38.9
Prepaid expenses and other current assets 372.5 378.3
Current assets before funds held for clients 4,033.7 4,103.2
Funds held for clients 4,875.7 4,813.3
Total current assets 8,909.4 8,916.5
Property and equipment, net of accumulated depreciation 551.2 511.5
Operating lease right-of-use assets, net of accumulated amortization 80.1 63.8
Intangible assets, net of accumulated amortization 1,812.3 1,947.3
Goodwill 4,527.3 4,514.1
Long-term deferred costs 504.1 482.4
Other long-term assets 134.5 128.5
Total assets 16,518.9 16,564.1
Liabilities    
Accounts payable 137.6 129.8
Accrued corporate compensation and related items 147.1 183.9
Accrued worksite employee compensation and related items 807.2 735.8
Short-term borrowings 18.2 18.6
Accrued income taxes 44.4 0.0
Long-term debt, net, current portion 399.9 399.8
Deferred revenue 70.5 69.4
Other current liabilities 531.5 552.0
Current liabilities before client fund obligations 2,156.4 2,089.3
Client fund obligations 4,884.7 4,867.0
Total current liabilities 7,041.1 6,956.3
Accrued income taxes 130.5 119.0
Deferred income taxes 531.9 444.7
Long-term borrowings, net of debt issuance costs 4,552.2 4,548.4
Operating lease liabilities 66.6 55.5
Other long-term liabilities 316.5 312.2
Total liabilities 12,638.8 12,436.1
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 359.0 shares as of November 30, 2025 and 360.5 shares as of May 31, 2025 3.6 3.6
Additional paid-in capital 1,944.1 1,901.1
Retained earnings 1,950.0 2,277.0
Accumulated other comprehensive loss (17.6) (53.7)
Total stockholders' equity 3,880.1 4,128.0
Total liabilities and stockholders' equity $ 16,518.9 $ 16,564.1