Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2026
May 31, 2025
Assets    
Cash and cash equivalents $ 1,742.5 $ 1,628.6
Restricted cash 49.8 47.9
Corporate investments 38.1 34.5
Interest receivable 37.0 27.9
Accounts receivable, net of allowance for credit losses 1,435.0 1,330.5
PEO unbilled receivables, net of advance collections 598.8 616.6
Prepaid income taxes 37.7 38.9
Prepaid expenses and other current assets 378.2 378.3
Current assets before funds held for clients 4,317.1 4,103.2
Funds held for clients 5,610.9 4,813.3
Total current assets 9,928.0 8,916.5
Property and equipment, net of accumulated depreciation 569.2 511.5
Operating lease right-of-use assets, net of accumulated amortization 69.8 63.8
Intangible assets, net of accumulated amortization 1,748.2 1,947.3
Goodwill 4,526.6 4,514.1
Long-term deferred costs 530.0 482.4
Other long-term assets 139.6 128.5
Total assets 17,511.4 16,564.1
Liabilities    
Accounts payable 132.4 129.8
Accrued corporate compensation and related items 176.7 183.9
Accrued worksite employee compensation and related items 824.6 735.8
Short-term borrowings 0.0 18.6
Accrued income taxes 62.5 0.0
Long-term debt, net, current portion 400.0 399.8
Deferred revenue 70.3 69.4
Other current liabilities 609.0 552.0
Current liabilities before client fund obligations 2,275.5 2,089.3
Client fund obligations 5,603.6 4,867.0
Total current liabilities 7,879.1 6,956.3
Accrued income taxes 136.6 119.0
Deferred income taxes 553.5 444.7
Long-term borrowings, net of debt issuance costs 4,554.1 4,548.4
Operating lease liabilities 59.3 55.5
Other long-term liabilities 315.2 312.2
Total liabilities 13,497.8 12,436.1
Commitments and contingencies - Note I
Stockholders' equity    
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 358.3 shares as of February 28, 2026 and 360.5 shares as of May 31, 2025 3.6 3.6
Additional paid-in capital 1,965.4 1,901.1
Retained earnings 2,047.3 2,277.0
Accumulated other comprehensive loss (2.7) (53.7)
Total stockholders' equity 4,013.6 4,128.0
Total liabilities and stockholders' equity $ 17,511.4 $ 16,564.1