Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions, unless otherwise specified
 9 Months Ended
Feb. 28, 2013
Feb. 29, 2012
OPERATING ACTIVITIES    
Net income $ 445.5 $ 424.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization on property and equipment and intangible assets 73.3 72.9
Amortization of premiums and discounts on available-for-sale securities, net 41.4 31.3
Stock-based compensation costs 16.9 17.6
(Benefit)/provision for deferred income taxes (4.8) 5.2
Provision for allowance for doubtful accounts 0.8 0.6
Net realized gains on sales of available-for-sale securities (0.9) (0.6)
Changes in operating assets and liabilities:    
Interest receivable 5.3 7.9
Accounts receivable 17.4 24.8
Prepaid expenses and other current assets 5.2 (4.6)
Accounts payable and other current liabilities (2.4) (18.2)
Net change in other assets and liabilities 8.7 1.0
Net cash provided by operating activities 606.4 562.6
INVESTING ACTIVITIES    
Purchases of available-for-sale securities (18,655.1) (7,636.2)
Proceeds from sales and maturities of available-for-sale securities 16,792.3 6,732.3
Net change in funds held for clients' money market securities and other cash equivalents 787.8 182.1
Purchases of property and equipment (74.2) (62.5)
Acquisition of businesses, net of cash acquired (21.3) (6.0)
Purchases of other assets (5.1) (0.9)
Net cash used in investing activities (1,175.6) (791.2)
FINANCING ACTIVITIES    
Net change in client fund obligations 1,015.8 595.5
Dividends paid (476.7) (344.3)
Equity activity related to stock-based awards 21.7 4.9
Net cash provided by financing activities 560.8 256.1
(Decrease)/increase in cash and cash equivalents (8.4) 27.5
Cash and cash equivalents, beginning of period 108.8 119.0
Cash and cash equivalents, end of period $ 100.4 $ 146.5