Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v3.3.0.814
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Aug. 31, 2015
May. 31, 2015
ASSETS    
Cash and cash equivalents $ 455.9 $ 170.0
Corporate investments 81.8 366.6
Interest receivable 32.1 37.9
Accounts receivable, net of allowance for doubtful accounts 206.6 176.6
Deferred income taxes 0.0 15.0
Prepaid income taxes 0.0 12.9
Prepaid expenses and other current assets 63.4 50.8
Current assets before funds held for clients 839.8 829.8
Funds held for clients 3,748.4 4,273.4
Total current assets 4,588.2 5,103.2
Long-term corporate investments 416.2 399.8
Property and equipment, net of accumulated depreciation 350.1 353.9
Intangible assets, net of accumulated amortization 33.0 32.4
Goodwill 561.5 561.5
Other long-term assets 34.0 31.7
Total assets 5,983.0 6,482.5
LIABILITIES    
Accounts payable 43.0 51.7
Accrued compensation and related items 191.3 210.4
Accrued income taxes 29.4 0.0
Deferred income taxes 1.1 0.0
Other current liabilities 54.8 50.8
Current liabilities before client fund obligations 319.6 312.9
Client fund obligations 3,726.8 4,260.1
Total current liabilities 4,046.4 4,573.0
Accrued income taxes 63.2 44.8
Deferred income taxes 18.2 16.8
Other long-term liabilities 64.4 62.4
Total liabilities $ 4,192.2 $ 4,697.0
COMMITMENTS AND CONTINGENCIES - NOTE I
STOCKHOLDERS' EQUITY    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 360.5 shares as of August 31, 2015 and 361.2 shares as of May 31, 2015, respectively. $ 3.6 $ 3.6
Additional paid-in capital 897.0 880.1
Retained earnings 876.4 894.3
Accumulated other comprehensive income 13.8 7.5
Total stockholders' equity 1,790.8 1,785.5
Total liabilities and stockholders' equity $ 5,983.0 $ 6,482.5