ADP, LLC
(NASDAQ:ADP)

Automatic Data Processing, Inc. provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsour...

Website: http://www.adp.com

Founded: 1949

Full Time Employees: 63,000 (Dec 2022)

CEO: Carlos A. Rodriguez

Sector: Industrials

Industry: Staffing & Employment Services

Technology Staffing Services

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At a glance:

Bull Thesis:

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Main Competitors:

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Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-06-30	2007-06-30	2006-06-30

revenues:
revenues, other than interest on funds held for clients and peo revenues	3,203,500,000	3,157,600,000	3,412,600,000	3,114,800,000	3,007,200,000	2,941,900,000	3,270,300,000	2,898,600,000	2,843,000,000	2,784,700,000	3,088,700,000	2,702,200,000	2,646,500,000	2,593,100,000	2,882,300,000	2,561,800,000	2,467,700,000	2,422,500,000	2,671,200,000	2,405,200,000	2,269,600,000	2,181,400,000	2,652,100,000	2,398,400,000	2,306,200,000	1,898,700,000	2,546,900,000	2,319,800,000	2,218,600,000	2,222,500,000	2,492,900,000	2,188,800,000	2,080,900,000	2,073,700,000	2,329,800,000	2,077,400,000	2,037,400,000	2,037,400,000	2,283,800,000	1,984,400,000	1,928,700,000	1,902,600,000	2,185,600,000	1,948,100,000	1,892,000,000	2,398,100,000	2,572,500,000	2,365,800,000	2,248,500,000												1,763,700,000				1,352,275,000	1,884,100,000	1,772,600,000
interest on funds held for clients	286,800,000	307,800,000	355,200,000	272,800,000	253,300,000	276,800,000	320,800,000	225,300,000	201,700,000	235,700,000	249,400,000	187,200,000	141,000,000	126,800,000	118,000,000	106,000,000	101,100,000	103,200,000	107,400,000	105,400,000	106,500,000	114,800,000	158,900,000	137,700,000	133,900,000	51,500,000	167,400,000	129,100,000	118,500,000	125,600,000	134,800,000	106,700,000	99,400,000	104,800,000	111,600,000	91,800,000	89,200,000	97,300,000	102,800,000	89,300,000	87,800,000	95,000,000	101,400,000	91,000,000	90,300,000	95,100,000	100,100,000	89,200,000	89,200,000	80,100,000	112,000,000	101,700,000	106,800,000	93,250,000	133,300,000	117,900,000	121,900,000	101,100,000	148,600,000	129,000,000	126,800,000	100,875,000	147,900,000	127,900,000	115,875,000	164,300,000	147,300,000
peo revenues	1,684,900,000	1,661,400,000	1,785,200,000	1,660,800,000	1,572,200,000	1,549,800,000	1,662,700,000	1,544,100,000	1,467,700,000	1,457,400,000	1,589,700,000	1,501,600,000	1,428,100,000	1,407,800,000	1,512,700,000	1,357,600,000	1,263,500,000	1,211,300,000	1,323,400,000	1,185,100,000	1,094,600,000	1,080,600,000	1,236,800,000	1,133,400,000	1,055,600,000	701,000,000	1,133,100,000	1,057,000,000	986,100,000	970,500,000	1,065,300,000	939,900,000	898,500,000	886,400,000	969,400,000	818,100,000	790,300,000	763,600,000	862,000,000	733,300,000	697,500,000	674,100,000	744,700,000	622,200,000	591,500,000	580,600,000	647,400,000	527,800,000	501,900,000	368,450,000	562,200,000	462,700,000	448,900,000	329,950,000	510,800,000	411,100,000	397,900,000	284,950,000	445,200,000	355,700,000	338,900,000	244,700,000	376,000,000	293,900,000	221,700,000	326,300,000	283,400,000
total revenues	5,175,200,000	5,126,800,000	5,553,000,000	5,048,400,000	4,832,700,000	4,768,500,000	5,253,800,000	4,668,000,000	4,512,400,000	4,477,800,000	4,927,800,000	4,391,000,000	4,215,600,000	4,127,700,000	4,513,000,000	4,025,400,000	3,832,300,000	3,737,000,000	4,102,000,000	3,695,700,000	3,470,700,000	3,376,800,000	4,047,800,000	3,669,500,000	3,495,700,000	2,651,200,000	3,847,400,000	3,505,900,000	3,323,200,000	3,318,600,000	3,693,000,000	3,235,400,000	3,078,800,000	3,064,900,000	3,410,800,000	2,987,300,000	2,916,900,000	2,898,300,000	3,248,600,000	2,807,000,000	2,714,000,000	2,671,700,000	3,031,700,000	2,661,300,000	2,573,800,000	3,073,800,000	3,320,000,000	2,982,800,000	2,839,600,000	2,810,500,000	3,114,300,000	2,747,800,000	2,637,500,000	2,636,600,000	2,923,100,000	2,583,000,000	2,522,500,000	2,507,100,000	2,737,300,000	2,405,700,000	2,229,400,000	2,190,300,000	2,443,200,000	2,102,800,000	2,107,700,000	2,374,700,000	2,203,300,000
yoy	7.09%	7.51%	5.69%	8.15%	7.10%	6.49%	6.62%	6.31%	7.04%	8.48%	9.19%	9.08%	10.00%	10.45%	10.02%	8.92%	10.42%	10.67%	1.34%	0.71%	-0.72%	27.37%	5.21%	4.67%	5.19%	-20.11%	4.18%	8.36%	7.94%	8.28%	8.27%	8.31%	5.55%	5.75%	4.99%	6.42%	7.48%	8.48%	7.15%	5.47%	5.45%	-13.08%	-8.68%	-10.78%	-9.36%	9.37%	6.61%	8.55%	7.66%	6.60%	6.54%	6.38%	4.56%	5.17%	6.79%	7.37%	13.15%	14.46%	12.04%	14.40%	5.77%	-7.77%	10.89%
qoq	0.94%	-7.68%	10.00%	4.46%	1.35%	-9.24%	12.55%	3.45%	0.77%	-9.13%	12.23%	4.16%	2.13%	-8.54%	12.11%	5.04%	2.55%	-8.90%	10.99%	6.48%	2.78%	-16.58%	10.31%	4.97%	31.85%	-31.09%	9.74%	5.50%	0.14%	-10.14%	14.14%	5.09%	0.45%	-10.14%	14.18%	2.41%	0.64%	-10.78%	15.73%	3.43%	1.58%	-11.87%	13.92%	3.40%	-16.27%	-7.42%	11.30%	5.04%	1.04%	-9.76%	13.34%	4.18%	0.03%	-9.80%	13.17%	2.40%	0.61%	-8.41%	13.78%	7.91%	1.79%	-10.35%	16.19%	-0.23%	-11.24%	7.78%
expenses:
costs of revenues:
operating expenses	2,461,600,000	2,426,100,000	2,534,700,000	2,376,100,000	2,285,800,000	2,272,700,000	2,406,500,000	2,213,300,000	2,157,600,000	2,148,700,000	2,299,800,000	2,134,500,000	2,074,400,000	2,068,600,000	2,212,500,000	2,040,700,000	1,930,800,000	1,911,200,000	1,999,500,000	1,847,800,000	1,762,100,000	1,806,300,000	1,974,100,000	1,836,000,000	1,787,700,000	1,530,600,000	1,874,500,000	1,785,900,000	1,709,900,000	1,727,300,000	1,844,700,000	1,719,300,000	1,646,900,000	1,622,700,000	1,701,500,000	1,560,400,000	1,531,500,000	1,494,100,000	1,611,600,000	1,479,400,000	1,439,800,000	1,391,300,000	1,484,700,000	1,386,000,000	1,363,300,000	1,593,100,000	1,640,500,000	1,528,700,000	1,491,600,000	1,455,100,000	1,518,200,000	1,401,600,000	1,367,500,000	1,365,800,000	1,413,900,000	1,307,700,000	1,292,700,000	1,310,400,000	1,300,300,000	1,173,600,000	1,116,700,000	1,086,600,000	1,140,300,000	1,006,800,000	-3,093,895,898	1,039,800,000	1,007,100,000
research and development	251,200,000	269,400,000	247,100,000	239,500,000	232,600,000	247,900,000	242,700,000	228,700,000	236,500,000
depreciation and amortization	123,300,000	121,400,000	122,400,000	126,900,000	115,300,000	111,000,000	119,000,000	119,600,000	121,300,000	114,400,000	115,400,000	112,000,000	109,400,000	104,500,000	102,400,000	100,800,000	103,000,000	99,500,000	100,000,000	100,100,000	103,500,000	95,700,000	92,900,000	89,400,000	88,900,000	53,000,000	77,200,000	71,700,000	72,600,000	72,400,000	70,200,000	69,300,000	62,600,000	57,800,000	56,200,000	54,900,000	57,200,000	53,800,000	53,800,000	53,500,000	50,600,000	50,300,000	52,600,000	52,200,000	51,900,000	66,100,000	63,400,000	64,400,000	61,000,000	63,700,000	63,600,000	62,800,000	62,700,000	67,700,000	65,400,000	63,100,000	63,700,000	64,000,000	64,500,000	64,600,000	60,300,000	58,000,000	60,400,000	60,400,000	-176,699,762.2	60,000,000	57,300,000
total costs of revenues	2,836,100,000	2,816,900,000	2,904,200,000	2,742,500,000	2,633,700,000	2,631,600,000	2,768,200,000	2,561,600,000	2,515,400,000	2,485,300,000	2,623,800,000	2,450,700,000	2,393,600,000	2,385,900,000	2,512,200,000	2,341,200,000	2,222,600,000	2,205,500,000	2,278,100,000	2,122,400,000	2,034,300,000	2,067,100,000	2,239,100,000	2,094,100,000	2,044,800,000	1,744,800,000	2,111,800,000	2,013,700,000	1,940,500,000	1,952,300,000	2,077,400,000	1,946,700,000	1,866,400,000	1,847,400,000	1,911,000,000	1,767,800,000	1,743,600,000	1,698,600,000	1,812,700,000	1,682,500,000	1,646,500,000	1,590,700,000	1,688,000,000	1,587,000,000	1,561,900,000	1,845,500,000	1,884,400,000	1,772,400,000	1,724,400,000	1,692,800,000	1,745,900,000	1,624,300,000	1,586,500,000	1,589,200,000	1,624,700,000	1,519,900,000	1,506,100,000	1,518,700,000	1,520,600,000	1,380,300,000	1,311,900,000	1,282,300,000	1,330,700,000	1,193,300,000	1,196,700,000	1,218,600,000	1,187,500,000
gross profit	2,339,100,000	2,309,900,000	2,648,800,000	2,305,900,000	2,199,000,000	2,136,900,000	2,485,600,000	2,106,400,000	1,997,000,000	1,992,500,000	2,304,000,000	1,940,300,000	1,822,000,000	1,741,800,000	2,000,800,000	1,684,200,000	1,609,700,000	1,531,500,000	1,823,900,000	1,573,300,000	1,436,400,000	1,309,700,000	1,808,700,000	1,575,400,000	1,450,900,000	906,400,000	1,735,600,000	1,492,200,000	1,382,700,000	1,366,300,000	1,615,600,000	1,288,700,000	1,212,400,000	1,217,500,000	1,499,800,000	1,219,500,000	1,173,300,000	1,199,700,000	1,435,900,000	1,124,500,000	1,067,500,000	1,081,000,000	1,343,700,000	1,074,300,000	1,011,900,000	1,228,300,000	1,435,600,000	1,210,400,000	1,115,200,000	1,117,700,000	1,368,400,000	1,123,500,000	1,051,000,000	1,047,400,000	1,298,400,000	1,063,100,000	1,016,400,000	988,400,000	1,216,700,000	1,025,400,000	917,500,000	908,000,000	1,112,500,000	909,500,000	911,000,000	1,156,100,000	1,015,800,000
yoy	6.37%	8.10%	6.57%	9.47%	10.12%	7.25%	7.88%	8.56%	9.60%	14.39%	15.15%	15.21%	13.19%	13.73%	9.70%	7.05%	12.06%	16.94%	0.84%	-0.13%	-1.00%	44.49%	4.21%	5.58%	4.93%	-33.66%	7.43%	15.79%	14.05%	12.22%	7.72%	5.67%	3.33%	1.48%	4.45%	8.45%	9.91%	10.98%	6.86%	4.67%	5.49%	-11.99%	-6.40%	-11.24%	-9.26%	9.90%	4.91%	7.73%	6.11%	6.71%	5.39%	5.68%	3.40%	5.97%	6.71%	3.68%	10.78%	8.85%	9.37%	12.74%	0.71%	-21.46%	9.52%
qoq	1.26%	-12.79%	14.87%	4.86%	2.91%	-14.03%	18.00%	5.48%	0.23%	-13.52%	18.74%	6.49%	4.60%	-12.94%	18.80%	4.63%	5.11%	-16.03%	15.93%	9.53%	9.67%	-27.59%	14.81%	8.58%	60.07%	-47.78%	16.31%	7.92%	1.20%	-15.43%	25.37%	6.29%	-0.42%	-18.82%	22.98%	3.94%	-2.20%	-16.45%	27.69%	5.34%	-1.25%	-19.55%	25.08%	6.17%	-17.62%	-14.44%	18.61%	8.54%	-0.22%	-18.32%	21.80%	6.90%	0.34%	-19.33%	22.13%	4.59%	2.83%	-18.76%	18.66%	11.76%	1.05%	-18.38%	22.32%	-0.16%	-21.20%	13.81%
gross margin %	45.20%	45.06%	47.70%	45.68%	45.50%	44.81%	47.31%	45.12%	44.26%	44.50%	46.76%	44.19%	43.22%	42.20%	44.33%	41.84%	42.00%	40.98%	44.46%	42.57%	41.39%	38.79%	44.68%	42.93%	41.51%	34.19%	45.11%	42.56%	41.61%	41.17%	43.75%	39.83%	39.38%	39.72%	43.97%	40.82%	40.22%	41.39%	44.20%	40.06%	39.33%	40.46%	44.32%	40.37%	39.32%	39.96%	43.24%	40.58%	39.27%	39.77%	43.94%	40.89%	39.85%	39.73%	44.42%	41.16%	40.29%	39.42%	44.45%	42.62%	41.15%	41.46%	45.53%	43.25%	43.22%	48.68%	46.10%
selling, general, and administrative expenses	1,006,300,000	1,103,100,000	1,015,800,000	1,006,100,000	926,700,000	1,035,300,000	940,900,000	922,500,000	880,300,000	957,200,000	938,000,000	855,700,000	800,300,000	914,200,000	817,500,000	782,300,000	719,200,000	840,700,000	763,000,000	755,800,000	681,000,000	765,600,000	756,600,000	754,300,000	726,500,000	750,000,000	750,400,000	745,200,000	713,900,000	836,700,000	755,100,000	717,200,000	662,400,000	829,600,000	665,000,000	640,800,000	647,700,000	770,300,000	634,400,000	627,200,000	605,300,000	720,500,000	608,200,000	590,200,000	578,000,000	776,400,000	673,200,000	675,600,000	638,600,000
interest expense	135,400,000	113,700,000	74,800,000	129,600,000	137,800,000	102,200,000	62,700,000	104,900,000	91,600,000	106,900,000	38,300,000	57,000,000	51,200,000	26,600,000	18,400,000	18,400,000	18,500,000	17,300,000	13,500,000	13,900,000	15,100,000	15,600,000	20,000,000	31,600,000	39,900,000	6,500,000	21,700,000	38,600,000	35,900,000	28,600,000	18,600,000	27,500,000	28,000,000	22,800,000	16,800,000	20,500,000	19,900,000	18,100,000	16,300,000	16,800,000	4,900,000	1,600,000	800,000	2,200,000	1,900,000	1,400,000	900,000	2,000,000	1,900,000	1,800,000	1,200,000	3,000,000	3,100,000	2,300,000	1,200,000	2,100,000	2,100,000	1,700,000	1,400,000	2,800,000	2,700,000	1,800,000	1,200,000	3,200,000	-29,799,966.7	2,500,000	8,100,000
total expenses	3,977,800,000	4,033,700,000	3,994,800,000	3,878,200,000	3,698,200,000	3,769,100,000	3,771,800,000	3,589,000,000	3,487,300,000	3,549,400,000	3,600,100,000	3,363,400,000	3,245,100,000	3,326,700,000	3,348,100,000	3,141,900,000	2,960,300,000	3,063,500,000	3,054,600,000	2,892,100,000	2,730,400,000	2,848,300,000	3,015,700,000	2,880,000,000	2,811,200,000	2,501,300,000	2,883,900,000	2,797,500,000	2,690,300,000	2,817,600,000	2,851,100,000	2,691,400,000	2,556,800,000	2,699,800,000	2,592,800,000	2,429,100,000	2,411,200,000	2,487,000,000	2,463,400,000	2,326,500,000	2,256,700,000	2,312,800,000	2,297,000,000	2,179,400,000	2,141,800,000	2,638,200,000	2,558,500,000	2,450,000,000	2,364,900,000	2,467,400,000	2,401,500,000	2,252,000,000	2,201,000,000	2,268,900,000	2,248,000,000	2,099,500,000	2,097,400,000	2,180,700,000	2,099,300,000	1,953,200,000	1,830,200,000	1,896,000,000	1,836,800,000	1,689,200,000	-5,292,792,929.6	1,741,500,000	1,768,700,000
other income	-110,100,000	-64,125,000	-63,700,000																			-36,300,000	-44,600,000	-46,000,000	-54,600,000	-16,875,000	-21,000,000	-32,600,000	-13,900,000	-14,625,000	-10,700,000	-21,700,000	-26,200,000	-23,300,000	-9,900,000	-228,000,000	-23,000,000	-15,700,000	-9,600,000	-27,400,000	-47,700,000	-15,600,000	-7,900,000	-19,200,000	-20,500,000	-13,800,000	-8,300,000	-28,300,000	-22,600,000	-22,000,000	-12,000,000	-33,000,000	-29,100,000	-29,800,000	-10,500,000	-96,200,000	-34,200,000	-32,300,000	-15,000,000	-32,100,000	-37,200,000	-11,200,000	-26,600,000	-33,700,000	77,100,108	4,100,000	-38,600,000
earnings before income taxes	1,307,500,000	1,190,700,000	1,621,900,000	1,261,300,000	1,236,200,000	1,089,300,000	1,546,300,000	1,143,800,000	1,092,800,000	1,005,600,000	1,364,000,000	1,058,100,000	1,010,000,000	803,400,000	1,189,900,000	910,100,000	900,800,000	697,100,000	1,066,200,000	832,600,000	765,200,000	531,300,000	1,076,700,000	835,500,000	739,100,000	-89,700,000	984,500,000	741,000,000	646,800,000	491,625,000	852,600,000	565,700,000	548,200,000																					431,150,000	685,600,000	579,700,000	459,300,000
benefit from income taxes	294,500,000	280,000,000	372,400,000	298,100,000	279,900,000	260,000,000	361,400,000	265,400,000	233,400,000	228,900,000	320,900,000	245,000,000	231,000,000	177,900,000	261,400,000	215,700,000	200,300,000	158,900,000	255,500,000	185,100,000	163,100,000	119,700,000	255,800,000	183,900,000	156,700,000	-157,200,000	230,800,000		141,400,000	95,900,000	209,500,000	98,200,000	146,700,000	122,600,000	240,000,000	275,300,000	160,000,000	145,000,000	262,300,000	166,500,000	167,500,000	122,000,000	250,600,000	167,100,000	154,500,000	160,600,000	259,400,000	184,100,000	168,700,000	138,100,000	242,100,000	176,800,000	163,100,000	139,100,000	233,200,000	204,700,000	156,600,000	116,900,000	229,200,000	174,500,000	157,900,000	97,900,000	231,400,000	163,200,000	-562,699,423.5	226,600,000	172,800,000
net earnings	1,013,000,000	910,700,000	1,249,500,000	963,200,000	956,300,000	829,300,000	1,184,900,000	878,400,000	859,400,000	776,700,000	1,043,100,000	813,100,000	779,000,000	625,500,000	928,500,000	694,400,000	700,500,000	538,200,000	810,700,000	647,500,000	602,100,000	411,600,000	820,900,000	651,600,000	582,400,000	67,500,000	753,700,000	558,200,000	505,400,000	108,700,000	643,100,000	467,500,000	401,500,000	265,800,000	587,900,000	510,900,000	368,700,000	282,000,000	532,500,000	341,400,000	336,600,000	336,200,000	489,600,000	331,500,000	295,200,000	288,800,000	521,600,000	377,000,000	328,600,000	294,700,000	482,700,000	390,900,000	305,300,000	282,525,000	452,400,000	375,000,000	302,700,000	253,100,000	423,800,000	310,100,000	278,500,000	250,875,000	403,600,000	284,100,000	245,000,000	402,500,000	300,500,000
yoy	5.93%	9.82%	5.45%	9.65%	11.28%	6.77%	13.59%	8.03%	10.32%	24.17%	12.34%	17.09%	11.21%	16.22%	14.53%	7.24%	16.34%	30.76%	-1.24%	-0.63%	3.38%	509.78%	8.92%	16.73%	15.24%	-37.90%	17.20%	19.40%	25.88%	-59.10%	9.39%	-8.49%	8.90%	-5.74%	10.40%	49.65%	9.54%	-16.12%	8.76%	2.99%	14.02%	16.41%	-6.13%	-12.07%	-10.16%	-2.00%	8.06%	-3.56%	7.63%	4.31%	6.70%	4.24%	0.86%	11.63%	6.75%	20.93%	8.69%	0.89%	5.00%	9.15%	13.67%	-37.67%	34.31%
qoq	11.23%	-27.11%	29.72%	0.72%	15.31%	-30.01%	34.89%	2.21%	10.65%	-25.54%	28.29%	4.38%	24.54%	-32.63%	33.71%	-0.87%	30.16%	-33.61%	25.20%	7.54%	46.28%	-49.86%	25.98%	11.88%	762.81%	-91.04%	35.02%	10.45%	364.95%	-83.10%	37.56%	16.44%	51.05%	-54.79%	15.07%	38.57%	30.74%	-47.04%	55.98%	1.43%	0.12%	-31.33%	47.69%	12.30%	2.22%	-44.63%	38.36%	14.73%	11.50%	-38.95%	23.48%	28.04%	8.06%	-37.55%	20.64%	23.89%	19.60%	-40.28%	36.67%	11.35%	11.01%	-37.84%	42.06%	15.96%	-39.13%	33.94%
net income margin %	19.57%	17.76%	22.50%	19.08%	19.79%	17.39%	22.55%	18.82%	19.05%	17.35%	21.17%	18.52%	18.48%	15.15%	20.57%	17.25%	18.28%	14.40%	19.76%	17.52%	17.35%	12.19%	20.28%	17.76%	16.66%	2.55%	19.59%	15.92%	15.21%	3.28%	17.41%	14.45%	13.04%	8.67%	17.24%	17.10%	12.64%	9.73%	16.39%	12.16%	12.40%	12.58%	16.15%	12.46%	11.47%	9.40%	15.71%	12.64%	11.57%	10.49%	15.50%	14.23%	11.58%	10.72%	15.48%	14.52%	12.00%	10.10%	15.48%	12.89%	12.49%	11.45%	16.52%	13.51%	11.62%	16.95%	13.64%
basic earnings per share	2.5	2.24	3.07	2.36	2.34	2.03	2.89	2.14	2.09	1.89	2.52	1.96	1.88	1.51	2.22	1.65	1.66	1.28	1.9	1.51	1.4	0.97	1.91	1.51	1.35	0.11	1.74	1.28	1.16	0.26	1.46	1.06	0.91	0.6	1.32	1.14	0.82	0.63	1.17	0.75	0.73	0.72	1.04	0.7	0.62	0.61	1.09	0.79	0.68	0.61	1	0.81	0.63	0.58	0.93	0.77	0.62	0.513	0.85	0.63	0.57	0.5	0.8	0.57	0.485	0.8	0.6
diluted earnings per share	2.49	2.23	3.06	2.35	2.34	2.03	2.88	2.13	2.08	1.88	2.51	1.95	1.87	1.49	2.21	1.65	1.65	1.27	1.9	1.51	1.4	0.96	1.9	1.5	1.34	0.1	1.73	1.27	1.15	0.26	1.45	1.05	0.9	0.6	1.31	1.13	0.81	0.62	1.17	0.74	0.72	0.72	1.03	0.69	0.61	0.6	1.08	0.78	0.68	0.605	0.99	0.8	0.63	0.573	0.92	0.76	0.61	0.508	0.85	0.62	0.56	0.498	0.8	0.56	0.483	0.8	0.59
basic weighted-average shares outstanding	405.1	407.1	406.9	407.6	407.9	410.6	410.5	411.1	411.7	413.7	413.7	414.3	414.6	418.8	418.1	419.8	421.4	426.3	425.8	427.4	428.6	430.8	430	431.5	432.7	440.6	434.1	435.7	436.8	440.6	441	441.3	442.2	447.8	446.5	447.9	452.3	457	454.4	457.6	462.4	472.6	470.3	476.6	478.4	478.9	478.9	478.4	480.1		482.7	482.1	483.5		488.5	486.7	487.9		496.2	492	491.4		502.4	501.4	503.2	501.2	503.4
diluted weighted-average shares outstanding	406.5	408.7	408.5	409	409.5	412.2	412.1	412.5	413.6	415.7	415.5	416.2	416.9	421.1	420.2	422	423.8	428.1	427.7	429	430	432.7	431.8	433.3	435.4	443.3	436.6	438	439.9	443.3	443.4	443.7	445	450.3	449.2	450.3	455.3	459.1	456.9	460.3	465.7	475.8	474	480.3	481.7	483.1	483	482.8	484.3		486.5	486.8	488.4		493.2	492.4	493.3		501.3	496.9	494.9		505.5	503.7	505.8	502.4	506.1
other (income)/expense				-91,100,000	-101,700,000	-89,900,000	-64,300,000	-64,800,000	-67,700,000	-77,200,000	-36,300,000	-30,500,000	-39,500,000	-2,400,000	-25,000,000	-26,600,000	-28,800,000	-23,600,000	-18,800,000	-29,000,000	-24,900,000
systems development and programming costs										222,200,000	208,600,000	204,200,000	209,800,000	212,800,000	197,300,000	199,700,000	188,800,000	194,800,000	178,600,000	174,500,000	168,700,000	165,100,000	172,100,000	168,700,000	168,200,000	161,200,000	160,100,000	156,100,000	158,000,000	152,600,000	162,500,000	158,100,000	156,900,000	166,900,000	153,300,000	152,500,000	154,900,000	150,700,000	147,300,000	149,600,000	156,100,000	149,100,000	150,700,000	148,800,000	146,700,000	186,300,000	180,500,000	179,300,000	171,800,000	174,000,000	164,100,000	159,900,000	156,300,000	155,700,000	145,400,000	149,100,000	149,700,000	108,225,000	155,800,000	142,100,000	134,900,000	94,050,000	130,000,000	126,100,000	93,050,000	118,800,000	123,100,000
provision / (benefit) for income taxes																												182,800,000
dividends declared per common share																													0.69	0.458	0.63	0.63	0.57	0.418	0.57	0.57	0.53	0.388	0.53	0.53	0.49	0.365	0.49	0.49	0.48	0.349	0.48	0.48	0.435	0.316	0.435	0.435	0.395	0.288	0.395	0.395	0.36	0.265	0.36	0.36	0.34	0.253	0.34	0.33	0.238	0.33	0.33
earnings from continuing operations before income taxes																																		388,400,000	827,900,000	786,200,000	528,700,000	427,000,000	794,800,000	507,900,000	505,000,000	374,500,000	742,600,000	501,100,000	452,500,000	449,400,000	769,800,000	561,100,000	497,300,000	365,100,000	724,800,000	528,800,000	465,600,000								436,400,000				361,000,000	629,100,000	473,200,000
net earnings from continuing operations																																		265,800,000	587,900,000	510,900,000	368,700,000	282,000,000	532,500,000	341,400,000	337,500,000	252,500,000	492,000,000	334,000,000	298,000,000	288,800,000	510,400,000	377,000,000	328,600,000	227,000,000	482,700,000	352,000,000	302,500,000					253,100,000	423,800,000	310,100,000	278,500,000	249,925,000	401,600,000	284,100,000	347,200,000	402,500,000	300,400,000
income from discontinued operations before income taxes
benefit for income taxes
net income from discontinued operations																																						-225,000			-900,000
basic earnings per share from continuing operations																																		0.6	1.32	1.14	0.82	0.63	1.17	0.75	0.73	0.54	1.05	0.7	0.62	0.61	1.07	0.79	0.68	0.59	1	0.73	0.63					0.513	0.85	0.63	0.57	0.498	0.8	0.57	0.69	0.8	0.6
basic loss per share from discontinued operations
diluted earnings per share from continuing operations																																		0.6	1.31	1.13	0.81	0.62	1.17	0.74	0.72	0.54	1.04	0.7	0.62	0.6	1.06	0.78	0.68	0.47	0.99	0.72	0.62					0.508	0.85	0.62	0.56	0.495	0.79	0.56	0.7	0.8	0.59
diluted loss per share from discontinued operations
earnings/(loss) from discontinued operations before income taxes																																						-350,000
provision/(benefit) for income taxes																																						-125,000
(loss)/earnings from discontinued operations before income taxes																																									-1,400,000	15,175,000	-2,400,000	-2,500,000
(benefit)/benefit from income taxes																																									-500,000
net (loss)/earnings from discontinued operations																																										-1,925,000	-2,400,000	-2,500,000	-2,800,000
basic (loss)/earnings per share from discontinued operations																																										-0.005	-0.01	-0.01
diluted (loss)/earnings per share from discontinued operations																																										-0.005	-0.01	-0.01
earnings from discontinued operations before income taxes																																													65,600,000		16,600,000			16,700,000		62,300,000
basic earnings per share from discontinued operations																																													-0.01		0.02			0.023		0.08	0.01									0.003
diluted earnings per share from discontinued operations																																													-0.01		0.02			0.023		0.08	0.01									0.003
net earnings from discontinued operations																																															11,200,000			10,425,000		38,900,000
revenues, other than interest on fundsheld for clients and peo revenues																																																		1,676,350,000	2,440,100,000	2,183,400,000	2,081,800,000
selling, general and administrative expenses																																																		472,625,000	654,400,000	624,700,000	611,400,000	677,400,000	622,100,000	577,500,000	589,200,000	415,750,000	577,300,000	570,100,000	515,600,000	378,875,000	504,900,000	492,700,000	405,050,000	520,400,000	573,100,000
earnings from discontinued operations, net of benefit from income taxes of 1.7 and 1.3 for the three months ended september 30, 2012 and 2011, respectively																																																					2,800,000
revenues, other than interest on funds
held for clients and peo revenues																																																						1,583,950,000	2,279,000,000	2,054,000,000	2,002,700,000	1,457,050,000	2,143,500,000	1,921,000,000		1,338,775,000	1,919,300,000	1,681,000,000
earnings from continuing operations
before income taxes																																																										393,500,000	653,000,000	484,600,000		389,425,000	633,000,000	447,300,000
earnings from discontinued operations, net of provision
for income taxes of 6.1 for the three months ended
march 31, 2010 and 7.0 for the nine months ended
march 31, 2010, respectively
for income taxes of 0.3 for the three months ended
december 31, 2009 and 0.8 for the six months ended
december 31, 2009
earnings from discontinued operations, net of benefit from income taxes of 0.5 for the three months ended september 30, 2009
earnings from discontinued operations, net of
benefit from income taxes of 6.1 and 0.2 for the
three months ended march 31, 2010 and 2009,
respectively, and 7.0 and 2.3 for the nine months
ended march 31, 2010 and 2009, respectively																																																														950,000	2,000,000
income from discontinued operations, net of benefit from income taxes
of 1.1 for the three months ended september 30, 2008
earnings from discontinued operations, net of benefit from income taxes of 0.9 for the three months ended march 31, 2008, and 1.0 and 31.7 for the nine months ended march 31, 2009 and 2008, respectively																																																																	-250,000
earnings from discontinued operations, net of (benefit) benefit from income taxes of (0.1) and (0.4) for the three months ended december 31, 2008 and 2007, respectively, and 1.0 and 30.8 for the six months ended december 31, 2008 and 2007, respectively																																																																			100,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-06-30

assets
current assets:
cash and cash equivalents	2,478,000,000	3,347,800,000	2,680,600,000	2,216,400,000	2,104,900,000	2,913,400,000	3,291,700,000	1,641,300,000	1,441,400,000	2,083,500,000	1,828,400,000	1,345,000,000	1,207,700,000	1,436,300,000	1,634,200,000	1,745,000,000	1,602,100,000	2,575,200,000	1,891,500,000	1,602,200,000	1,613,100,000	1,908,500,000	1,705,000,000	1,500,400,000	1,403,900,000	1,949,200,000	1,826,200,000	2,170,000,000	2,170,000,000	2,170,000,000	2,170,000,000	1,773,400,000	2,363,600,000	2,780,400,000	2,995,500,000	2,705,200,000	2,776,600,000	3,191,100,000	2,941,400,000	2,794,900,000	3,184,700,000	1,639,300,000	1,808,600,000	1,850,800,000	2,175,700,000	1,983,600,000	1,671,000,000	1,267,100,000	1,149,000,000	1,699,100,000	1,647,700,000	1,390,900,000	1,117,400,000	1,548,100,000	1,665,100,000	1,331,300,000	1,248,900,000	1,389,400,000	1,600,900,000	1,305,700,000	1,176,700,000	1,643,300,000	1,965,000,000	1,582,800,000	2,265,300,000	1,363,400,000	1,304,900,000	917.5
short-term marketable securities	5,466,100,000	4,498,800,000			5,242,200,000																		3,200,000	7,200,000	3,545,100,000												41,000,000	23,500,000	23,700,000	26,900,000	27,200,000	26,600,000	26,900,000	101,900,000	2,261,600,000	2,032,200,000	22,900,000	22,500,000	541,900,000	28,000,000	32,600,000	43,900,000	35,700,000	30,400,000	28,000,000	23,900,000	19,100,000	36,300,000	43,600,000	36,300,000	40,400,000	27,900,000	38,500,000	36,600,000	30,800,000	32,500,000	66,700,000	666.3
accounts receivable	3,463,600,000	3,579,100,000	3,547,900,000	3,503,500,000	3,316,700,000	3,428,200,000	3,460,700,000	3,372,400,000	3,095,100,000	3,009,600,000	3,072,100,000	3,162,300,000	2,939,200,000	3,170,600,000	3,250,700,000	2,736,000,000	2,769,700,000	2,727,400,000	2,765,400,000	2,509,800,000	2,489,100,000	2,441,300,000	2,620,600,000	2,587,900,000	2,490,400,000	2,439,300,000	2,485,200,000	1,984,200,000	1,984,200,000	1,984,200,000	1,984,200,000	2,045,500,000	1,788,700,000	1,703,600,000	1,811,500,000	1,839,500,000	1,620,600,000	1,742,800,000	2,074,400,000	1,634,200,000	1,565,200,000	1,546,900,000	1,580,700,000	1,595,600,000	1,390,300,000	1,800,400,000	1,835,200,000	1,730,400,000	1,585,800,000	1,598,300,000	1,723,600,000	1,604,100,000	1,463,400,000	1,399,300,000	1,372,700,000	1,353,900,000	1,236,900,000	1,364,800,000	1,293,800,000	1,136,600,000	1,161,500,000	1,127,700,000	1,131,000,000	994,300,000	1,055,400,000	1,043,800,000	1,166,300,000	1,034.6
other current assets	1,094,900,000	840,800,000	933,100,000	1,126,800,000	1,070,500,000	1,204,800,000	957,700,000	1,020,600,000	1,180,700,000	743,900,000	769,300,000	875,800,000	884,000,000	628,800,000	699,300,000	735,900,000	867,500,000	533,400,000	604,500,000	684,100,000	762,900,000	506,200,000	545,500,000	660,900,000	675,900,000	519,600,000	534,400,000	531,300,000	531,300,000	758,000,000	531,300,000	1,079,800,000	1,164,100,000	883,200,000	820,300,000	837,000,000	898,800,000	701,800,000	728,000,000	867,200,000	890,300,000	731,100,000	674,100,000	860,700,000	827,100,000	759,200,000	759,700,000	866,800,000	823,200,000	646,800,000	693,000,000	754,500,000	756,300,000	632,000,000	643,900,000	659,400,000	667,900,000	648,300,000	680,800,000	662,100,000	638,000,000	673,400,000	621,800,000	825,500,000	921,100,000	780,300,000	749,800,000	771.6
total current assets before funds held for clients	12,502,600,000	12,266,500,000	7,161,600,000	6,846,700,000	11,734,300,000	7,546,400,000	7,710,100,000	6,034,300,000	5,717,200,000	5,837,000,000	5,669,800,000	5,383,100,000	5,030,900,000	5,235,700,000	5,584,200,000	5,216,900,000	5,239,300,000	5,836,000,000	5,261,400,000	4,796,100,000	4,865,100,000	4,856,000,000	4,874,300,000	4,756,400,000	8,115,300,000	4,908,100,000	4,845,800,000	4,685,500,000	4,685,500,000	4,912,200,000	4,685,500,000	4,898,700,000	5,316,400,000	5,367,200,000	5,627,300,000	5,381,700,000	5,337,000,000	5,659,200,000	5,767,500,000	5,323,200,000	5,667,400,000	3,943,900,000	4,090,300,000	4,409,000,000	6,654,700,000	6,575,400,000	4,288,800,000	3,886,800,000	4,099,900,000	3,972,200,000	4,096,900,000	3,793,400,000	3,505,200,000	3,616,500,000	3,716,600,000	3,377,600,000	3,181,900,000	3,447,900,000	3,631,400,000	3,153,000,000	3,028,900,000	3,484,100,000	3,762,900,000	3,445,900,000	4,284,700,000	3,232,100,000	3,299,800,000	3,390
funds held for clients	31,699,900,000	30,985,700,000	39,375,200,000	47,407,700,000	28,176,900,000	37,996,100,000	47,929,500,000	42,509,100,000	34,762,900,000	36,333,600,000	45,848,400,000	40,760,500,000	32,937,900,000	49,569,200,000	58,319,600,000	45,890,400,000	46,808,600,000	34,905,800,000	41,491,000,000	36,866,200,000	29,950,300,000	26,708,100,000	30,834,400,000	36,608,600,000	21,393,200,000	29,434,200,000	36,078,200,000	27,137,800,000	27,137,800,000	27,137,800,000	27,137,800,000	34,451,300,000	25,686,200,000	27,291,500,000	33,887,100,000	30,426,400,000	24,787,200,000	33,841,200,000	41,051,500,000	30,336,000,000	24,508,700,000	24,865,300,000	28,702,500,000	34,707,000,000	19,138,700,000	19,258,000,000	26,243,800,000	28,414,300,000	16,935,900,000	22,228,800,000	30,336,300,000	23,759,000,000	20,467,400,000	21,539,100,000	29,836,900,000	23,349,500,000	19,272,100,000	25,135,600,000	32,451,900,000	24,218,500,000	22,650,300,000	18,832,600,000	26,552,100,000	16,272,500,000	16,419,200,000	21,250,100,000	25,357,600,000	15,418.9
total current assets	44,202,500,000	43,252,200,000	46,536,800,000	54,254,400,000	39,911,200,000	45,542,500,000	55,639,600,000	48,543,400,000	40,480,100,000	42,170,600,000	51,518,200,000	46,143,600,000	37,968,800,000	54,804,900,000	63,903,800,000	51,107,300,000	52,047,900,000	40,741,800,000	46,752,400,000	41,662,300,000	34,815,400,000	31,564,100,000	35,708,700,000	41,365,000,000	29,508,500,000	34,342,300,000	40,924,000,000	31,823,300,000	31,823,300,000	32,050,000,000	31,823,300,000	39,350,000,000	31,002,600,000	32,658,700,000	39,514,400,000	35,808,100,000	30,124,200,000	39,500,400,000	46,819,000,000	35,659,200,000	30,176,100,000	28,809,200,000	32,792,800,000	39,116,000,000	25,793,400,000	25,833,400,000	30,532,600,000	32,301,100,000	21,035,800,000	26,201,000,000	34,433,200,000	27,552,400,000	23,972,600,000	25,155,600,000	33,553,500,000	26,727,100,000	22,454,000,000	28,583,500,000	36,083,300,000	27,371,500,000	25,679,200,000	22,316,700,000	30,315,000,000	19,718,400,000	20,703,900,000	24,482,200,000	28,657,400,000	18,808.9
property, plant and equipment	646,700,000	655,400,000	670,400,000	682,200,000	692,500,000	685,600,000	676,500,000	671,000,000	660,400,000	681,400,000	663,500,000	655,100,000	645,100,000	652,600,000	650,500,000	644,500,000	648,700,000	684,500,000	701,400,000	692,700,000	701,500,000	703,900,000	743,100,000	761,300,000	767,100,000	764,200,000	765,800,000	793,700,000	793,700,000	793,700,000	793,700,000	799,900,000	800,400,000	779,900,000	750,600,000	733,200,000	701,000,000	685,000,000	668,800,000	679,600,000	680,300,000	672,700,000	646,000,000	650,300,000	650,700,000	777,400,000	767,500,000	739,300,000	735,200,000	728,700,000	716,700,000	712,900,000	703,900,000	706,300,000	710,200,000	707,900,000	708,300,000	716,200,000	685,400,000	676,900,000	664,900,000	673,800,000	690,000,000	723,500,000	734,500,000	715,500,000	721,000,000	742.9
operating lease right-of-use asset	392,700,000	374,100,000	335,600,000	342,900,000	362,500,000	370,600,000	354,800,000	372,000,000	380,500,000	402,400,000	394,300,000	400,300,000	419,000,000	450,900,000	445,500,000	472,100,000	462,400,000	462,200,000	493,800,000	501,100,000	479,000,000	493,700,000	521,100,000	500,200,000	504,000,000
deferred contract costs	3,120,800,000	3,154,100,000	2,996,300,000	2,936,400,000	2,975,500,000	2,965,000,000	2,838,300,000	2,794,700,000	2,758,000,000	2,769,700,000	2,641,000,000	2,574,800,000	2,546,500,000	2,579,700,000	2,496,700,000	2,448,100,000	2,463,200,000	2,498,200,000	2,425,500,000	2,417,200,000	2,397,900,000	2,401,600,000	2,403,000,000	2,397,300,000	2,401,400,000	2,428,500,000	2,361,600,000	2,377,400,000	2,377,400,000		2,377,400,000
other assets	1,084,900,000	1,052,600,000	999,900,000	951,900,000	923,200,000	1,102,100,000	1,014,700,000	995,800,000	1,352,000,000	1,255,400,000	959,900,000	990,900,000	1,135,000,000	937,400,000	910,000,000	868,000,000	817,500,000	825,800,000	475,100,000	483,500,000	438,000,000	458,400,000	579,900,000	596,600,000	1,129,400,000	934,400,000	740,300,000	699,300,000	699,300,000	1,089,600,000	699,300,000	1,371,200,000	1,386,200,000	1,352,200,000	1,242,400,000	1,228,200,000	1,225,500,000	1,233,500,000	1,399,300,000	1,341,900,000	1,309,200,000	1,270,800,000	1,324,200,000	1,325,800,000	1,326,700,000	1,485,300,000	1,355,000,000	1,320,900,000	1,286,500,000	1,189,900,000	1,089,800,000	1,075,400,000	1,041,900,000	870,400,000	1,001,700,000	964,000,000	949,200,000	922,600,000	815,100,000	823,300,000	835,600,000	712,300,000	757,900,000	780,100,000	702,700,000	865,800,000	798,000,000	808.3
goodwill	3,275,200,000	3,273,500,000	3,300,200,000	3,183,900,000	2,369,000,000	2,353,600,000	2,355,400,000	2,369,800,000	2,352,500,000	2,339,400,000	2,335,700,000	2,315,000,000	2,273,400,000	2,300,500,000	2,324,100,000	2,330,700,000	2,325,800,000	2,338,400,000	2,333,800,000	2,346,600,000	2,326,300,000	2,309,400,000	2,299,300,000	2,314,900,000	2,303,300,000	2,323,000,000	2,316,100,000	2,243,500,000	2,243,500,000	2,243,500,000	2,243,500,000	2,164,300,000	1,757,300,000	1,741,000,000	1,726,700,000	1,652,900,000	1,698,500,000	1,682,000,000	1,689,300,000	1,671,200,000	1,684,600,000	1,793,500,000	1,785,500,000	1,833,400,000	1,857,600,000	3,113,800,000	3,102,000,000	3,108,600,000	3,095,700,000	3,052,600,000	3,068,500,000	3,100,700,000	3,088,800,000	3,155,300,000	3,163,700,000	3,130,000,000	2,997,500,000	3,073,600,000	3,072,000,000	2,878,800,000	2,789,100,000	2,383,300,000	2,431,200,000	2,409,800,000	2,375,500,000	2,269,900,000	2,281,800,000	2,426.7
intangible assets	1,598,000,000	1,603,000,000	1,604,300,000	1,739,100,000	1,330,300,000	1,336,000,000	1,295,300,000	1,315,100,000	1,331,800,000	1,343,600,000	1,360,300,000	1,365,600,000	1,368,700,000	1,333,100,000	1,327,300,000	1,222,500,000	1,211,600,000	1,210,100,000	1,212,800,000	1,207,200,000	1,215,900,000	1,215,800,000	1,106,700,000	1,102,500,000	1,078,900,000	1,071,500,000	1,062,900,000	886,400,000	886,400,000	886,400,000	886,400,000	832,700,000	687,300,000	620,200,000	594,800,000	552,400,000	553,800,000	534,200,000	513,900,000	495,300,000	476,200,000	503,200,000	498,300,000	499,300,000	500,400,000	632,300,000	636,200,000	644,500,000	639,100,000	643,200,000	644,400,000	670,600,000	683,800,000	711,200,000	723,100,000	731,500,000	686,700,000	715,700,000	718,700,000	682,800,000	684,100,000	542,400,000	554,200,000	557,400,000	580,100,000	578,700,000	573,200,000	637.1
total assets	54,320,800,000	53,369,300,000	56,448,600,000	64,096,700,000	49,511,400,000	54,362,700,000	64,181,600,000	57,069,400,000	49,323,600,000	50,971,000,000	59,881,800,000	54,453,000,000	46,364,700,000	63,068,200,000	72,068,100,000	59,102,600,000	59,987,200,000	48,772,500,000	54,407,700,000	49,325,900,000	42,390,100,000	39,165,500,000	43,383,400,000	49,059,400,000	37,714,700,000	41,887,700,000	48,196,300,000	38,849,100,000	38,849,100,000	37,088,700,000	38,849,100,000	44,545,500,000	35,661,100,000	37,180,000,000	43,855,900,000	39,999,400,000	34,337,400,000	43,670,000,000	51,125,600,000	39,899,500,000	34,380,300,000	33,110,500,000	37,107,300,000	43,503,100,000	30,208,100,000	32,051,700,000	36,596,500,000	38,321,800,000	29,481,300,000	32,268,100,000	40,166,300,000	33,330,000,000	30,144,100,000	30,815,500,000	39,376,100,000	32,484,400,000	28,020,200,000	34,238,300,000	41,596,400,000	32,660,300,000	30,878,900,000	26,862,200,000	34,986,200,000	24,436,100,000	25,351,700,000	29,174,400,000	33,361,000,000	23,734.4
liabilities and stockholders' equity
current liabilities:
accounts payable	129,000,000	169,100,000	146,300,000	186,400,000	145,200,000	100,600,000	84,600,000	76,800,000	67,400,000	96,800,000	74,800,000	85,300,000	82,700,000	110,200,000	81,700,000	103,500,000	77,800,000	141,100,000	112,200,000	113,900,000	111,200,000	102,000,000	115,500,000	132,900,000	108,800,000	125,500,000	156,300,000	135,400,000	135,400,000	135,400,000	135,400,000	136,800,000	112,600,000	149,700,000	126,500,000	137,400,000	117,800,000	152,300,000	158,400,000	138,700,000	146,500,000	194,500,000	130,800,000	136,400,000	146,900,000	169,700,000	145,600,000	140,600,000	148,900,000	157,300,000	149,700,000	141,400,000	138,800,000	167,700,000	137,700,000	137,300,000	123,000,000	153,300,000	131,800,000	116,200,000	132,300,000	150,000,000	96,200,000	94,600,000	130,300,000	99,200,000	96,400,000	126.9
accrued expenses and other current liabilities	2,906,600,000	3,092,400,000	2,977,200,000	3,088,700,000	2,973,900,000	3,350,100,000	3,714,500,000	2,634,900,000	2,292,000,000	2,342,600,000	2,188,600,000	2,373,300,000	2,165,100,000	2,107,800,000	2,100,600,000	1,937,000,000	1,796,100,000	1,963,300,000	2,000,900,000	1,778,100,000	1,900,200,000	1,980,700,000	1,978,700,000	2,051,500,000	1,994,600,000	1,759,000,000	1,678,700,000	1,547,600,000	1,547,600,000	1,547,700,000	1,547,600,000	1,583,900,000	1,440,400,000	1,381,900,000	1,336,200,000	1,420,300,000	1,279,600,000	1,246,800,000	1,344,700,000	1,121,800,000	1,252,200,000	1,159,200,000	1,238,200,000	1,163,900,000	1,127,400,000	1,314,900,000	1,212,700,000	1,193,900,000	1,169,700,000	1,178,600,000	1,137,100,000	1,163,600,000	1,044,900,000	1,054,400,000	930,500,000	963,000,000	869,900,000	930,400,000	700,500,000	726,600,000	697,400,000	771,000,000	607,300,000	725,400,000	778,500,000	637,800,000	681,300,000	668.1
accrued payroll and payroll-related expenses	601,900,000	973,100,000	732,100,000	682,600,000	552,700,000	958,700,000	722,100,000	603,200,000	554,200,000	941,400,000	754,800,000	590,800,000	501,200,000	862,600,000	765,600,000	590,100,000	552,700,000	910,200,000	762,100,000	587,400,000	494,700,000	557,000,000	564,000,000	428,700,000	443,600,000	721,100,000	607,400,000	667,700,000	667,700,000	667,700,000	667,700,000	496,600,000	441,100,000	562,500,000	527,100,000	444,700,000	413,200,000	616,700,000	514,700,000	491,700,000	405,600,000	627,300,000	490,300,000	502,800,000	436,100,000	707,100,000	568,500,000	560,800,000	438,000,000	632,100,000	511,400,000	524,500,000	411,900,000		517,900,000	447,400,000	384,400,000		531,600,000	423,800,000	388,400,000		453,900,000			417,200,000	579,400,000
dividends payable	618,900,000	620,600,000	620,700,000	621,600,000	565,900,000	566,400,000	568,900,000	569,700,000	509,900,000	510,000,000	511,600,000	514,600,000	428,800,000	429,600,000	431,700,000	433,600,000	389,500,000	390,800,000	392,700,000	394,400,000	387,100,000	387,300,000	387,900,000	389,300,000	339,100,000	340,100,000	340,000,000	298,900,000	298,900,000	298,900,000	298,900,000	275,200,000	249,000,000	250,500,000	251,000,000	253,200,000	237,300,000	238,400,000	238,800,000	239,600,000	225,700,000	226,400,000	228,800,000	232,000,000	228,600,000	226,900,000	227,000,000	226,700,000	205,600,000	206,700,000	207,200,000	206,500,000	187,900,000	188,400,000	190,100,000	189,200,000	172,300,000	174,200,000	176,100,000	174,300,000	164,100,000	164,500,000	171,200,000	162,200,000	162,100,000	162,100,000	163,100,000	145.7
short-term deferred revenues	258,100,000	262,800,000	241,300,000	236,700,000	188,600,000	199,800,000	189,100,000	188,300,000	182,800,000	188,600,000	187,100,000	176,800,000	172,300,000	188,200,000	197,500,000	189,400,000	191,600,000	203,900,000	200,700,000	207,700,000	205,000,000	212,500,000	215,800,000	210,400,000	213,100,000	220,700,000	228,300,000	225,700,000	225,700,000	226,500,000	225,700,000	227,500,000	230,500,000	232,900,000	227,200,000	215,400,000	220,600,000	233,200,000	243,900,000	215,200,000	218,100,000	228,600,000	241,500,000	232,800,000	232,700,000	332,600,000	336,200,000	302,000,000	302,900,000	316,400,000	324,500,000	298,400,000	298,900,000	334,100,000	343,500,000	325,300,000	325,500,000	350,900,000	378,600,000	337,700,000	330,600,000	321,500,000	333,300,000	323,400,000	329,800,000	326,300,000	317,900,000	356.1
obligations under reverse repurchase agreements	247,400,000	38,400,000			679,100,000	385,400,000		21,600,000	343,800,000	105,400,000			167,600,000	136,400,000			45,800,000	23,500,000				13,600,000			428,600,000	262,000,000							129,400,000																340,900,000	245,900,000		13,500,000	442,700,000
obligations under commercial paper borrowings	5,208,000,000	4,769,500,000																																												2,173,000,000
income taxes payable	116,500,000	9,100,000	63,900,000	4,400,000	170,400,000	15,100,000	110,400,000	1,100,000	179,800,000	44,200,000	62,400,000	11,100,000	176,800,000	38,400,000	141,500,000	63,800,000	179,300,000	58,200,000	103,600,000	28,900,000	133,000,000	40,100,000	50,100,000	38,100,000	123,700,000	54,800,000	99,700,000	43,900,000	43,900,000	43,900,000	43,900,000	22,800,000	87,000,000	49,000,000	133,800,000	82,700,000	101,700,000	28,200,000	68,600,000	23,400,000	99,000,000	27,200,000	56,800,000	41,200,000	115,300,000	20,400,000	95,900,000	15,400,000	98,400,000	39,500,000	85,200,000	25,900,000	95,000,000	39,300,000	97,200,000	45,100,000	84,100,000	28,600,000	40,100,000	32,200,000	143,100,000	60,000,000	123,200,000	143,100,000	230,700,000	214,700,000	219,100,000	258.9
total current liabilities before client funds obligations	10,086,400,000	9,935,000,000	5,782,200,000	5,820,900,000	10,651,500,000	5,576,100,000	5,389,600,000	4,095,600,000	4,129,900,000	4,229,000,000	3,779,300,000	3,751,900,000	3,694,500,000	3,873,200,000	3,718,600,000	3,317,400,000	3,232,800,000	3,691,000,000	3,572,200,000	3,110,400,000	3,231,200,000	4,295,000,000	4,313,800,000	4,252,500,000	8,189,500,000	3,483,200,000	3,110,400,000	2,919,200,000	2,919,200,000	2,920,100,000	2,919,200,000	2,742,800,000	2,690,000,000	2,626,500,000	2,601,800,000	2,553,700,000	2,370,200,000	2,515,600,000	2,569,100,000	2,230,400,000	2,347,100,000	2,463,200,000	2,386,400,000	2,309,100,000	4,224,000,000	4,944,600,000	2,585,900,000	2,439,400,000	5,181,400,000	2,776,500,000	2,415,100,000	2,373,800,000	2,649,800,000	2,383,200,000	2,216,900,000	2,107,300,000	1,959,200,000	2,195,700,000	1,958,700,000	1,810,800,000	1,855,900,000	1,915,500,000	1,785,100,000	1,810,300,000	2,763,700,000	1,857,300,000	2,057,200,000	2,046.9
client funds obligations	31,845,600,000	31,343,300,000	40,063,200,000	48,482,200,000	28,720,900,000	39,503,900,000	49,512,300,000	44,002,100,000	37,098,800,000	38,538,600,000	47,756,800,000	43,061,800,000	35,471,700,000	51,285,500,000	59,387,900,000	45,766,600,000	46,437,100,000	34,403,800,000	41,043,000,000	36,066,100,000	29,098,400,000	25,831,600,000	30,359,000,000	36,269,900,000	21,011,400,000	29,144,500,000	36,055,600,000	27,493,500,000	27,493,500,000	27,493,500,000	27,493,500,000	34,508,100,000	25,596,600,000	27,189,400,000	33,816,700,000	30,402,600,000	24,349,100,000	33,331,800,000	40,681,300,000	30,237,700,000	24,240,200,000	24,650,500,000	28,328,300,000	34,461,100,000	18,935,300,000	18,963,400,000	25,992,300,000	28,205,600,000	16,718,000,000	21,956,300,000	29,703,400,000	23,064,700,000	19,701,300,000	20,856,200,000	29,207,000,000	22,690,200,000	18,552,600,000	24,591,100,000	32,015,400,000	23,682,100,000	21,821,400,000	18,136,700,000	25,956,900,000	15,633,700,000	15,992,600,000	21,007,400,000	25,170,400,000	15,294.7
total current liabilities	41,932,000,000	41,278,300,000	45,845,400,000	54,303,100,000	39,372,400,000	45,080,000,000	54,901,900,000	48,097,700,000	41,228,700,000	42,767,600,000	51,536,100,000	46,813,700,000	39,166,200,000	55,158,700,000	63,106,500,000	49,084,000,000	49,669,900,000	38,094,800,000	44,615,200,000	39,176,500,000	32,329,600,000	30,126,600,000	34,672,800,000	40,522,400,000	29,200,900,000	32,627,700,000	39,166,000,000	30,412,700,000	30,412,700,000	30,413,600,000	30,412,700,000	37,250,900,000	28,286,600,000	29,815,900,000	36,418,500,000	32,956,300,000	26,719,300,000	35,847,400,000	43,250,400,000	32,468,100,000	26,587,300,000	27,113,700,000	30,714,700,000	36,770,200,000	23,159,300,000	23,908,000,000	28,578,200,000	30,645,000,000	21,899,400,000	24,732,800,000	32,118,500,000	25,438,500,000	22,351,100,000	23,239,400,000	31,423,900,000	24,797,500,000	20,511,800,000	26,786,800,000	33,974,100,000	25,492,900,000	23,677,300,000	20,052,200,000	27,742,000,000	17,444,000,000	18,756,300,000	22,864,700,000	27,227,600,000	17,341.6
long-term debt	3,975,600,000	3,974,700,000	2,982,500,000	2,982,000,000	2,981,400,000	2,991,300,000	2,990,700,000	2,990,200,000	2,989,800,000	2,989,000,000	2,988,600,000	2,988,100,000	2,987,600,000	2,987,100,000	2,986,600,000	2,986,100,000	2,985,500,000	2,985,000,000	1,994,300,000	1,994,100,000	1,993,900,000	1,002,800,000	1,002,800,000	1,003,000,000	1,003,400,000	2,002,200,000	2,002,300,000	2,002,400,000	2,002,400,000	2,002,400,000	2,002,400,000	2,002,400,000	2,002,100,000	2,002,400,000	2,002,500,000	2,002,500,000	2,007,700,000	2,007,700,000	2,007,700,000	1,994,800,000	1,995,200,000	9,200,000	9,700,000	10,300,000	10,900,000	11,500,000	12,100,000	12,600,000	14,200,000	14,700,000	15,300,000	15,800,000	16,300,000	16,800,000	17,300,000	25,500,000	26,000,000	34,200,000	34,600,000	35,100,000	35,600,000	39,800,000	41,300,000	42,200,000	42,700,000	43,100,000	51,200,000	52.1
operating lease liabilities	341,700,000	321,200,000	283,200,000	300,300,000	316,100,000	328,600,000	309,100,000	326,800,000	334,300,000	349,900,000	332,100,000	334,100,000	348,500,000	370,900,000	344,900,000	363,500,000	345,700,000	343,200,000	360,900,000	357,400,000	330,400,000	344,400,000	361,200,000	360,200,000	355,400,000
other liabilities	1,041,400,000	1,058,300,000	991,200,000	999,300,000	977,000,000	990,800,000	935,500,000	918,900,000	893,000,000	933,700,000	918,700,000	931,600,000	902,100,000	924,200,000	954,200,000	843,600,000	813,600,000	834,100,000	806,500,000	812,500,000	813,900,000	837,000,000	745,600,000	726,000,000	707,900,000	798,700,000	759,800,000	728,000,000	728,000,000	728,000,000	728,000,000	824,800,000	835,500,000	830,200,000	836,100,000	770,600,000	734,000,000	701,100,000	707,500,000	675,500,000	648,000,000	644,300,000	621,500,000	629,600,000	616,700,000	660,000,000	627,600,000	623,600,000	612,700,000	603,100,000	599,000,000	610,100,000	606,800,000	585,900,000	585,100,000	605,300,000	582,100,000	556,200,000	551,600,000	530,300,000	512,500,000	528,000,000	474,500,000	461,900,000	477,100,000	588,000,000	606,200,000	587.9
deferred income taxes	272,400,000	163,600,000	129,100,000	90,800,000	154,400,000	64,300,000	64,400,000	68,300,000	67,700,000	73,600,000	67,700,000	66,800,000	66,000,000	67,000,000	135,600,000	434,300,000	469,300,000	482,900,000	592,000,000	711,500,000	743,000,000	731,900,000	732,200,000	702,400,000	708,200,000	659,900,000	615,800,000	522,000,000	522,000,000	107,300,000	522,000,000	148,600,000	196,000,000	163,100,000	108,900,000	85,100,000	244,500,000	251,100,000	281,600,000	192,000,000	162,900,000	172,100,000	228,000,000	238,100,000	230,200,000	288,800,000	253,300,000	285,600,000	271,500,000	234,400,000	383,500,000	385,700,000	411,200,000	391,300,000	418,500,000	409,300,000	415,400,000	373,500,000	381,700,000	361,600,000	431,200,000	306,400,000	315,600,000	350,000,000	254,500,000	198,800,000	148,700,000	170
long-term deferred revenues	383,900,000	385,200,000	361,900,000	343,100,000	361,500,000	360,100,000	353,300,000	347,900,000	337,300,000	348,100,000	344,800,000	332,000,000	317,800,000	335,000,000	347,400,000	341,500,000	352,500,000	362,400,000	364,900,000	373,900,000	370,400,000	370,600,000	378,100,000	381,000,000	378,200,000	399,300,000	406,200,000	448,100,000	448,100,000	377,800,000	448,100,000	387,600,000	387,500,000	391,400,000	386,800,000	369,800,000	381,800,000	381,100,000	375,200,000	362,900,000	356,700,000	362,700,000	355,300,000	362,700,000	363,700,000	513,200,000	509,200,000	496,500,000	490,700,000	493,200,000	488,900,000	484,600,000	466,000,000	468,100,000	474,700,000	464,400,000	465,700,000	477,200,000	459,900,000	464,800,000	465,600,000	456,900,000	474,500,000	484,000,000	498,500,000	487,300,000	489,600,000	495.6
total liabilities	47,947,000,000	47,181,300,000	50,593,300,000	59,018,600,000	44,162,800,000	49,815,100,000	59,554,900,000	52,749,800,000	45,850,800,000	47,461,900,000	56,188,000,000	51,466,300,000	43,788,200,000	59,842,900,000	67,875,200,000	54,053,000,000	54,636,500,000	43,102,400,000	48,733,800,000	43,425,900,000	36,581,200,000	33,413,300,000	37,892,700,000	43,695,000,000	32,354,000,000	36,487,800,000	42,950,100,000	34,113,200,000	34,113,200,000	33,629,100,000	34,113,200,000	40,614,300,000	31,707,700,000	33,203,000,000	39,752,800,000	36,184,300,000	30,087,300,000	39,188,400,000	46,622,400,000	35,693,300,000	29,750,100,000	28,302,000,000	31,929,200,000	38,010,900,000	24,380,800,000	25,381,500,000	29,980,400,000	32,063,300,000	23,288,500,000	26,078,200,000	33,605,200,000	26,934,700,000	23,851,400,000	24,701,500,000	32,919,500,000	26,302,000,000	22,001,000,000	28,227,900,000	35,401,900,000	26,884,700,000	25,122,200,000	21,383,300,000	29,047,900,000	18,782,100,000	20,029,100,000	24,181,900,000	28,523,300,000	18,647.2
commitments and contingencies
stockholders' equity:
preferred stock, 1.00 par value: authorized, 0.3 shares; issued, none
common stock	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000	63,900,000
capital in excess of par value	2,868,000,000	2,788,300,000	2,720,800,000	2,619,600,000	2,528,600,000	2,406,900,000	2,354,000,000	2,262,900,000	2,188,700,000	2,102,300,000	2,061,900,000	1,954,200,000	1,893,100,000	1,794,200,000	1,736,800,000	1,664,700,000	1,579,100,000	1,531,300,000	1,479,800,000	1,407,600,000	1,348,400,000	1,333,800,000	1,315,100,000	1,253,700,000	1,213,700,000	1,183,200,000	1,140,200,000	1,014,800,000	1,014,800,000	1,014,800,000	1,014,800,000	903,500,000	869,800,000	867,800,000	833,500,000	784,200,000	750,400,000	768,100,000	735,800,000	694,700,000	659,600,000	663,300,000	614,200,000	584,100,000	565,400,000	545,200,000	513,600,000	474,500,000	436,800,000	456,900,000	451,200,000	439,800,000	476,800,000	486,400,000	484,200,000	479,200,000	466,700,000	489,500,000	479,300,000	464,800,000	460,600,000	493,000,000	481,500,000	470,000,000	520,000,000	511,900,000	500,600,000	522
retained earnings	25,622,400,000	25,240,600,000	24,956,600,000	24,335,600,000	24,001,200,000	23,622,200,000	23,366,100,000	22,757,100,000	22,455,400,000	22,118,000,000	21,857,800,000	21,333,000,000	21,039,000,000	20,696,300,000	20,504,500,000	20,011,800,000	19,754,800,000	19,451,100,000	19,307,500,000	18,893,600,000	18,644,700,000	18,436,300,000	18,416,500,000	17,987,600,000	17,729,600,000	17,500,600,000	17,368,600,000	16,546,600,000	16,546,600,000	15,271,300,000	16,546,600,000	15,060,100,000	14,872,400,000	14,728,200,000	14,717,700,000	14,384,700,000	14,130,200,000	14,003,300,000	13,957,200,000	13,666,300,000	13,568,600,000	13,460,300,000	13,348,300,000	13,090,200,000	12,990,000,000	13,632,900,000	13,575,100,000	13,285,000,000	13,139,300,000	13,020,300,000	13,003,600,000	12,732,000,000	12,552,000,000	12,438,300,000	12,371,500,000	12,112,600,000	11,930,700,000	11,803,900,000	11,739,500,000	11,495,000,000	11,362,900,000	11,252,000,000	11,211,600,000	10,835,000,000	10,716,600,000	10,529,400,000	10,292,400,000	10,029.8
treasury stock	-21,449,800,000	-21,021,400,000	-20,700,000,000	-20,412,300,000	-20,144,900,000	-19,737,100,000	-19,305,400,000	-19,019,100,000	-18,767,400,000	-18,469,300,000	-18,162,000,000	-17,913,500,000	-17,695,400,000	-17,335,400,000	-16,850,000,000	-16,362,400,000	-15,924,200,000	-15,386,800,000	-14,919,600,000	-14,505,400,000	-14,264,000,000	-14,067,000,000	-14,070,400,000	-13,709,600,000	-13,412,600,000	-13,090,500,000	-12,914,600,000	-12,209,600,000	-12,209,600,000	-12,209,600,000	-12,209,600,000	-11,663,700,000	-11,508,100,000	-11,303,700,000	-10,998,800,000	-10,851,000,000	-10,448,000,000	-10,138,600,000	-10,093,700,000	-9,839,600,000	-9,414,500,000	-9,118,400,000	-8,711,300,000	-8,131,300,000	-7,717,900,000	-7,750,000,000	-7,577,500,000	-7,575,600,000	-7,517,700,000	-7,366,600,000	-7,166,900,000	-7,154,600,000	-7,149,400,000	-7,104,800,000				-6,714,000,000			-6,513,200,000	-6,539,500,000			-6,133,900,000	-6,137,700,000	-6,063,100,000	-5,804.7
accumulated other comprehensive loss	-730,700,000		-1,186,000,000																			-14,800,000	-234,400,000	-231,200,000	-233,900,000	-257,300,000	-411,900,000	-679,800,000	-679,800,000	-680,800,000	-679,800,000	-432,600,000	-344,600,000	-379,200,000	-513,200,000	-566,700,000	-246,400,000	-215,100,000	-160,000,000	-379,100,000	-247,400,000
total stockholders’ equity	6,373,800,000	6,188,000,000	5,855,300,000	5,078,100,000	5,348,600,000	4,547,600,000	4,626,700,000	4,319,600,000	3,472,800,000	3,509,100,000	3,693,800,000	2,986,700,000	2,576,500,000	3,225,300,000	4,192,900,000	5,049,600,000	5,350,700,000	5,670,100,000	5,673,900,000	5,900,000,000	5,808,900,000	5,752,200,000	5,490,700,000	5,364,400,000	5,360,700,000	5,399,900,000	5,246,200,000	4,735,900,000	4,735,900,000	3,459,600,000	4,735,900,000	3,931,200,000	3,953,400,000	3,977,000,000	4,103,100,000	3,815,100,000	4,250,100,000	4,481,600,000	4,503,200,000	4,206,200,000	4,630,200,000	4,808,500,000	5,178,100,000	5,492,200,000	5,827,300,000	6,670,200,000	6,616,100,000	6,258,500,000	6,192,800,000	6,189,900,000	6,561,100,000	6,395,300,000	6,292,700,000		6,456,600,000	6,182,400,000	6,019,200,000		6,194,500,000	5,775,600,000	5,756,700,000		5,938,300,000	5,654,000,000		4,992,500,000	4,837,700,000
total liabilities and stockholders’ equity	54,320,800,000	53,369,300,000	56,448,600,000	64,096,700,000	49,511,400,000	54,362,700,000	64,181,600,000	57,069,400,000	49,323,600,000	50,971,000,000	59,881,800,000	54,453,000,000	46,364,700,000	63,068,200,000	72,068,100,000	59,102,600,000	59,987,200,000	48,772,500,000	54,407,700,000	49,325,900,000	42,390,100,000	39,165,500,000	43,383,400,000	49,059,400,000	37,714,700,000	41,887,700,000	48,196,300,000	38,849,100,000	38,849,100,000	37,088,700,000	38,849,100,000	44,545,500,000	35,661,100,000	37,180,000,000	43,855,900,000	39,999,400,000	34,337,400,000	43,670,000,000	51,125,600,000	39,899,500,000	34,380,300,000	33,110,500,000	37,107,300,000	43,503,100,000	30,208,100,000	32,051,700,000	36,596,500,000	38,321,800,000	29,481,300,000	32,268,100,000	40,166,300,000	33,330,000,000	30,144,100,000		39,376,100,000	32,484,400,000	28,020,200,000		41,596,400,000	32,660,300,000	30,878,900,000		34,986,200,000	24,436,100,000		29,174,400,000	33,361,000,000
long-term receivables, net of allowance for doubtful accounts of 0.1 and 0.1, respectively		4,400,000				7,300,000		7,600,000		8,500,000			8,200,000
accumulated other comprehensive (loss)/income		-883,400,000								-2,305,800,000																																	-137,000,000	-114,700,000
long-term receivables, net of allowance for doubtful accounts of 0.2 and 0.1, respectively			5,100,000	5,900,000	6,600,000		7,000,000				8,900,000	7,700,000
short-term debt			1,000,700,000	1,000,500,000	1,000,300,000																	1,001,800,000	1,001,800,000	1,001,600,000	1,001,300,000
accumulated other comprehensive income				-1,528,700,000	-1,100,200,000	-1,808,300,000	-1,851,900,000				-2,127,800,000		-2,724,100,000	-1,993,700,000	-1,262,300,000	-328,400,000	-122,900,000	10,600,000	-257,700,000	40,300,000	15,900,000																					-260,600,000			-74,100,000	178,200,000	41,000,000	10,700,000	70,500,000	15,400,000	209,300,000	314,200,000	349,400,000	230,200,000	359,700,000	339,500,000	406,500,000	367,100,000	198,900,000	197,500,000	382,500,000	209,500,000	266,700,000	339,900,000	156,000,000	25,000,000	43,900,000	276.2
long-term marketable securities					940,600,000																																7,800,000	7,800,000	7,800,000	21,000,000	21,300,000	28,900,000	29,200,000	46,300,000	46,600,000	54,100,000	54,300,000	59,900,000	2,549,000,000	314,000,000	77,000,000	82,400,000	522,400,000	86,900,000	96,800,000	98,700,000	99,700,000	98,000,000	96,600,000	99,300,000	99,100,000	104,300,000	104,100,000	99,200,000	92,400,000	77,700,000	81,000,000	76.5
obligations under commercial paper borrowing					4,375,400,000
accumulated other comprehensive (loss)/ income								-1,745,200,000	-2,467,800,000			-2,450,900,000
long-term receivables, net of allowance for doubtful accounts of 0.0 and 0.1, respectively									8,300,000
long-term receivables, net of allowance for doubtful accounts of 0.1 and 0.3, respectively														9,100,000
long-term receivables, net of allowance for doubtful accounts of 0.2 and 0.3, respectively															10,200,000	9,400,000
long-term receivables, net of allowance for doubtful accounts of 0.3 and 0.3, respectively																	10,100,000
long-term receivables, net of allowance for doubtful accounts of 0.3 and 0.5, respectively																		11,500,000
long-term receivables, net of allowance for doubtful accounts of 0.5 and 0.5, respectively																			12,900,000								25,600,000	25,500,000			25,500,000
long-term receivables, net of allowance for doubtful accounts of 0.6 and 0.5, respectively																				15,300,000	16,100,000								25,500,000
long-term receivables, net of allowance for doubtful accounts of 0.5 and 0.4, respectively																						18,600,000		21,600,000
long-term receivables, net of allowance for doubtful accounts of 0.6 and 0.4, respectively																							21,600,000		22,100,000
obligation under commercial paper borrowing																									3,536,700,000																				1,937,000,000				2,477,000,000																730,000,000
long-term receivables, net of allowance for doubtful accounts of 0.4 and 0.5, respectively																										23,800,000
long-term receivables, net of allowance for doubtful accounts of 0.5 and 0.8, respectively																														25,500,000
long-term receivables, net of allowance for doubtful accounts of 0.7 and 0.8, respectively																																27,400,000
long-term receivables, net of allowance for doubtful accounts of 0.8 and 0.8, respectively																																	27,300,000
long-term receivables, net of allowance for doubtful accounts of 0.8 and 0.5, respectively																																		28,000,000	27,000,000	24,600,000	26,600,000
long-term receivables, net of allowance for doubtful accounts of 0.5 and 0.6, respectively																																						27,100,000	27,500,000
long-term receivables, net of allowance for doubtful accounts of 0.7 and 0.6, respectively																																								31,300,000
long-term receivables																																									32,600,000	32,200,000	31,300,000	32,000,000	32,700,000	155,400,000	148,900,000	147,500,000	140,000,000	138,700,000	136,700,000	135,600,000	130,700,000	129,800,000	127,100,000	125,200,000	124,800,000	128,700,000	125,300,000	127,700,000	126,900,000	129,400,000	133,800,000	147,700,000	162,600,000	184,600,000	248,600,000	234
assets of discontinued operations																																																					125,700,000
liabilities of discontinued operations																																																					29,700,000
preferred stock, 1.00 par value:authorized, 0.3 shares; issued, none
assets held for sale																																																					6,700,000	6,700,000	6,900,000	9,100,000	9,100,000	9,100,000	12,300,000	12,300,000	12,300,000	11,800,000	6,600,000	6,700,000	12,100,000	12,100,000	12,100,000
accrued payroll and payroll related expenses																																																						599,300,000				558,300,000				448,500,000		361,600,000	402,300,000			479.4
issued, 638.7 shares at june 30, 2012 and 2011;
outstanding, 484.2 and 490.8 shares at june 30, 2012 and 2011, respectively																																																						63,900,000
total stockholders' equity																																																						6,114,000,000				6,010,400,000				5,478,900,000			5,322,600,000			5,087.2
total liabilities and stockholders' equity																																																						30,815,500,000				34,238,300,000				26,862,200,000			25,351,700,000			23,734.4
preferred stock, 1.00 par value:
authorized, 0.3 shares; issued, none
authorized, 1,000.0 shares; issued 638.7
shares at march 31, 2012 and june 30, 2011;
outstanding, 489.3 and 490.8 shares at march 31, 2012
and june 30, 2011, respectively																																																							63,900,000	63,900,000	63,900,000
at march 31, 2012 and june 30, 2011, respectively																																																							-6,822,700,000
shares at december 31, 2011 and june 30, 2011;
outstanding, 489.1 and 490.8 shares at december 31, 2011
at december 31, 2011 and june 30, 2011, respectively																																																								-6,812,800,000
shares at september 30, 2011 and june 30, 2011;
outstanding, 488.2 and 490.8 shares at september 30, 2011
at september 30, 2011 and june 30, 2011, respectively																																																									-6,848,600,000
issued, 638.7 shares at june 30, 2011 and 2010;
outstanding, 490.8 and 492.0 shares at june 30, 2011 and 2010, respectively																																																										63,900,000
shares at march 31, 2011 and june 30, 2010;
outstanding, 498.2 and 492.0 shares at march 31, 2011
and june 30, 2010, respectively																																																											63,900,000	63,900,000
at march 31, 2011 and june 30, 2010, respectively																																																											-6,287,100,000
shares at december 31, 2010 and june 30, 2010;
outstanding, 494.2 and 492.0 shares at december 31, 2010
at december 31, 2010 and june 30, 2010, respectively																																																												-6,445,600,000
shares at september 30, 2010 and june 30, 2010;
outstanding, 492.5 and 492.0 shares at september 30, 2010 and june 30, 2010, respectively																																																													63,900,000
outstanding, 492.0 and 501.7 shares at june 30, 2010 and 2009, respectively																																																														63,900,000
shares at march 31, 2010 and june 30, 2009;
outstanding, 502.9 and 501.7 shares at march 31, 2010
and june 30, 2009, respectively																																																															63,900,000	63,900,000
at march 31, 2010 and june 30, 2009, respectively																																																															-6,085,400,000
shares at september 30, 2009 and june 30, 2009;
outstanding, 503.4 and 501.7 shares at september 30, 2009
at september 30, 2009 and june 30, 2009, respectively																																																																-6,054,800,000
obligation under reverse repurchase agreement																																																																				11.8
outstanding, 501.7 and 510.3 shares at june 30, 2009 and 2008, respectively																																																																	63,900,000
liabilities and stockholders’ equity
stockholders’ equity:
authorized, 1,000.0 shares; issued 638.7 shares at march 31, 2009 and june 30, 2008;																																																																		63,900,000
authorized, 1,000.0 shares; issued 638.7 shares at december 31, 2008 and june 30, 2008; outstanding, 504.0 and 510.3 shares at december 31, 2008 and june 30, 2008, respectively																																																																			63,900,000
outstanding, 510.3 and 535.8 shares at june 30, 2008 and 2007, respectively																																																																				63.9

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2013-09-30	2013-03-31	2012-12-31	2012-09-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2009-06-30	2009-03-31

cash flows from operating activities:
net earnings	1,013,000,000	1,249,500,000	963,200,000	956,300,000	829,300,000	1,184,900,000	878,400,000	859,400,000	1,043,100,000	813,200,000	779,000,000	625,500,000	928,500,000	694,400,000	700,500,000	538,200,000	810,700,000	647,500,000	602,100,000		820,900,000	651,600,000	582,400,000	475,400,000	753,800,000	558,200,000	505,400,000	108,700,000	643,100,000	467,500,000	401,500,000	265,800,000	368,700,000	282,000,000	532,500,000	341,400,000	336,600,000	336,200,000	489,600,000	328,600,000	482,700,000	390,800,000	305,300,000	452,400,000	375,000,000	302,700,000	241,800,000	423,800,000	310,100,000	278,500,000	207,900,000	352,600,000	402,700,000
adjustments to reconcile net earnings to cash flows from operating activities:
depreciation and amortization	146,700,000	147,000,000	151,100,000	138,600,000	135,700,000	144,600,000	140,100,000	141,500,000	137,000,000	136,800,000	135,100,000	130,500,000	129,000,000	126,500,000	129,100,000	126,000,000	126,900,000	126,700,000	131,100,000		120,600,000	117,600,000	117,300,000	109,400,000	103,100,000	97,500,000	99,000,000	99,300,000	96,300,000	94,800,000	87,200,000	82,500,000	77,600,000	73,900,000	73,300,000	72,600,000	68,800,000	69,500,000	70,400,000	80,500,000	81,100,000	77,300,000	78,300,000	81,100,000	79,200,000	79,700,000	79,000,000	81,000,000	82,700,000	75,500,000	76,400,000	79,300,000	77,600,000
amortization of deferred contract costs	298,600,000	286,100,000	284,500,000	281,400,000	272,600,000	268,300,000	264,400,000	262,300,000	249,500,000	245,100,000	243,500,000	240,900,000	239,400,000	237,600,000	237,300,000	234,800,000	235,600,000	232,600,000	232,300,000		231,400,000	228,700,000	227,300,000	218,800,000	220,600,000	217,700,000	216,900,000
deferred income taxes	64,800,000	-15,300,000	-10,200,000	42,700,000	-33,000,000	-26,900,000	-4,300,000	26,800,000	-27,500,000	-10,600,000	20,500,000	34,500,000	-44,300,000	20,800,000	25,600,000	-212,800,000	-39,600,000	-22,200,000	23,500,000		13,600,000	-300,000	44,400,000	5,200,000	-28,900,000	6,600,000	26,400,000	-17,500,000	10,700,000	-39,100,000	46,400,000	-12,200,000	31,900,000	-21,700,000	-14,300,000	7,300,000	29,400,000	25,500,000	-32,400,000	18,700,000	800,000	-4,500,000	7,100,000	700,000	-2,500,000	9,700,000	55,800,000	34,600,000	9,600,000	7,600,000	45,300,000	-18,800,000	23,300,000
stock-based compensation expense	58,700,000	62,800,000	79,100,000	60,600,000	54,800,000	56,300,000	73,600,000	58,800,000	67,600,000	58,400,000	50,600,000	55,500,000	48,300,000	55,600,000	42,300,000	48,900,000	45,500,000	47,100,000	33,800,000		33,400,000	36,200,000	37,100,000	45,100,000	45,200,000	38,600,000	38,400,000	56,000,000	41,700,000	38,700,000	39,000,000	37,700,000	31,100,000	35,200,000	31,700,000	36,000,000	34,700,000	32,200,000	35,900,000	27,200,000	22,400,000	24,300,000	17,600,000	20,400,000	27,100,000	18,600,000	17,800,000	21,800,000	22,800,000	13,900,000	12,600,000	10,500,000	22,900,000
bad debt expense	10,300,000	17,100,000	11,900,000	11,200,000	16,100,000
net pension income	-3,800,000	-5,000,000	-4,900,000	-4,900,000	-5,500,000	-5,800,000	-5,800,000	-5,800,000	-10,700,000	-10,700,000	-9,300,000		-15,800,000	-15,800,000	-15,800,000		-13,900,000	-10,900,000	-11,100,000
net accretion of discounts and amortization of premiums on available-for-sale securities	-22,500,000	-18,300,000	-16,000,000	-15,500,000	-13,400,000	-11,800,000	-11,900,000	-5,500,000
other	2,500,000	6,100,000	3,800,000	900,000	3,700,000	-22,300,000	14,200,000	2,700,000	17,800,000	20,200,000	10,600,000	37,300,000	-11,400,000	3,600,000	3,200,000	17,000,000	15,800,000	-3,700,000	6,100,000		38,400,000	-5,400,000	11,900,000	22,700,000	7,200,000	3,900,000	10,100,000	9,900,000	7,200,000	5,200,000	9,600,000	12,300,000	8,200,000	2,800,000	13,100,000	4,000,000	5,800,000	9,600,000	3,800,000	-24,400,000	7,500,000	4,000,000	9,700,000	16,800,000	-3,100,000	4,300,000	2,600,000	-1,100,000	20,800,000	12,800,000	-800,000	39,400,000	900,000
changes in operating assets and liabilities:
decrease in accounts receivable	102,000,000			115,400,000	12,500,000						201,500,000																																		-103,900,000	106,300,000				27,400,000
increase in deferred contract costs	-271,400,000	-325,500,000	-295,500,000	-269,800,000	-405,300,000	-327,900,000	-276,100,000	-261,900,000
increase in other assets	-342,400,000	116,100,000	-53,900,000	-217,100,000	68,500,000	87,900,000	-8,700,000	-304,900,000	-197,800,000	-283,900,000	-504,000,000	-321,500,000	-268,300,000	-174,400,000	-494,200,000	-235,400,000	-150,700,000	-188,500,000	-454,800,000		-156,900,000	-213,700,000	-391,700,000	-238,300,000	-154,500,000	-123,200,000	-471,200,000		206,100,000	14,800,000	-259,500,000	-116,200,000	-221,600,000	97,800,000	19,400,000	23,100,000	-249,200,000	-2,400,000	98,300,000	-290,000,000	14,500,000	2,300,000	-330,500,000	-15,900,000	-5,400,000	-117,700,000				-106,300,000			-2,100,000
(decrease)/increase in accounts payable	-38,000,000
decrease in accrued expenses and other liabilities	-376,200,000		212,900,000	-323,400,000			231,500,000	-308,600,000		116,000,000	-194,700,000			50,500,000	-413,800,000			-135,800,000	-23,100,000				-91,600,000				-77,800,000						-80,100,000			-15,100,000	-71,900,000			-86,600,000			-73,000,000			-78,800,000		134,300,000	-92,300,000	-68,600,000
net cash flows from operating activities	642,300,000	1,525,800,000	1,150,300,000	824,400,000	1,300,600,000	1,498,100,000	1,032,400,000	326,500,000	1,404,100,000	899,700,000	718,100,000	912,900,000	971,000,000	1,093,700,000	121,900,000	652,800,000	1,252,200,000	706,400,000	481,900,000		1,118,700,000	698,100,000	432,800,000	732,300,000	1,024,500,000	782,300,000	149,200,000	705,200,000	1,134,900,000	430,400,000	244,700,000	457,200,000	329,800,000	659,100,000	708,100,000	399,500,000	93,200,000	441,400,000	857,100,000	81,300,000	618,300,000			663,200,000	431,600,000	316,300,000	485,500,000	573,000,000	425,000,000	222,300,000	395,500,000	427,500,000	453,500,000
cash flows from investing activities:
purchases of corporate and client funds marketable securities	-3,604,600,000	-1,665,700,000	-1,219,000,000	-2,771,700,000	-2,469,600,000	-3,060,200,000	-595,300,000	-710,200,000	-1,764,000,000	-642,600,000	-3,064,500,000	-1,789,200,000	-3,720,700,000	-2,810,700,000	-2,412,600,000	-2,118,000,000	-3,593,500,000	-2,742,000,000	-812,800,000		-1,019,300,000	-1,465,400,000	-1,409,900,000	-1,696,800,000	-1,425,000,000	-545,000,000	-755,800,000	-1,184,100,000	-1,238,500,000	-1,296,900,000	-1,157,300,000	-912,800,000	-1,171,100,000	-1,635,400,000	-1,801,400,000	-1,579,700,000	-859,800,000	-1,681,500,000	-1,515,000,000	-369,100,000	-1,677,200,000	-1,394,900,000	-765,500,000	-1,417,100,000	-1,138,000,000	-1,095,100,000	-1,149,600,000	-1,053,600,000	-1,482,400,000	-1,085,300,000	-1,161,400,000	-480,500,000	-520,400,000
proceeds from the sales and maturities of corporate and client funds marketable securities	1,896,000,000	1,258,800,000	1,257,300,000	1,266,800,000	2,414,900,000	2,121,400,000	871,200,000	632,000,000	1,355,800,000	907,000,000	1,618,600,000	882,800,000	1,370,000,000	717,800,000	1,279,100,000	1,078,800,000	2,327,100,000	1,635,800,000	1,196,700,000		1,754,700,000	1,341,500,000	1,653,700,000	818,400,000	927,200,000	623,600,000	539,800,000	752,500,000	836,500,000	858,300,000	1,007,700,000	889,000,000	900,100,000	1,154,200,000	1,397,000,000	1,408,900,000	1,255,300,000	1,223,600,000	1,245,000,000	571,600,000	1,024,300,000	1,234,700,000	602,500,000	852,100,000			989,200,000	756,500,000	732,500,000	826,900,000	814,000,000	1,068,700,000	755,300,000
capital expenditures	-46,700,000	-36,400,000	-39,400,000	-58,800,000	-54,700,000	-59,600,000	-54,800,000	-39,300,000	-50,300,000	-49,700,000	-45,400,000	-47,600,000	-51,000,000	-39,900,000	-35,900,000	-33,300,000	-64,300,000	-37,500,000	-43,500,000		-38,600,000	-43,900,000	-56,800,000	-41,700,000	-40,300,000	-36,800,000	-43,200,000	-46,500,000	-41,300,000	-45,000,000	-73,300,000	-65,700,000	-48,700,000	-40,900,000	-28,200,000	-43,800,000	-55,600,000	-50,900,000	-27,100,000	-46,400,000	-47,000,000			-37,800,000	-33,200,000	-33,400,000	-59,800,000	-41,400,000	-42,100,000	-38,600,000	-26,400,000	-45,500,000	-28,800,000
free cash flows	595,600,000	1,489,400,000	1,110,900,000	765,600,000	1,245,900,000	1,438,500,000	977,600,000	287,200,000	1,353,800,000	850,000,000	672,700,000	865,300,000	920,000,000	1,053,800,000	86,000,000	619,500,000	1,187,900,000	668,900,000	438,400,000		1,080,100,000	654,200,000	376,000,000	690,600,000	984,200,000	745,500,000	106,000,000	658,700,000	1,093,600,000	385,400,000	171,400,000	391,500,000	281,100,000	618,200,000	679,900,000	355,700,000	37,600,000	390,500,000	830,000,000	34,900,000	571,300,000			625,400,000	398,400,000	282,900,000	425,700,000	531,600,000	382,900,000	183,700,000	369,100,000	382,000,000	424,700,000
additions to intangibles	-94,100,000	-101,100,000	-94,800,000	-80,900,000	-91,800,000	-97,500,000	-78,700,000	-87,000,000	-106,900,000	-92,100,000	-86,300,000	-96,700,000	-101,600,000	-87,500,000	-93,200,000	-87,100,000	-92,100,000	-71,700,000	-76,400,000		-93,300,000	-79,500,000	-88,200,000	-74,600,000	-190,600,000	-65,500,000	-73,800,000	-68,900,000	-63,400,000	-62,700,000	-69,700,000	-68,300,000	-57,200,000	-57,400,000	-54,400,000	-60,300,000	-45,400,000	-45,000,000	-47,200,000	-32,800,000	-22,400,000	-25,500,000	-33,500,000	-31,100,000	-27,400,000	-24,000,000	-36,900,000	-23,100,000	-16,400,000	-19,400,000	-36,300,000	-32,200,000	-27,900,000
acquisitions of businesses, net of cash acquired	500,000	-4,500,000			0	0	0	-33,600,000	-18,000,000			0	0											-5,100,000	0	-700,000	-119,700,000	0	-125,000,000			-700,000	-20,000,000					0	0	-9,700,000	-14,600,000	0	-700,000	-23,500,000	-174,400,000	-1,900,000	-1,300,000	-185,900,000	-113,500,000	-475,300,000	-1,100,000	-40,600,000	-19,200,000
proceeds from the sale of property, plant, and equipment and other assets																					0	200,000	23,400,000											0	0			0	0		0
net cash flows used in investing activities	-1,862,600,000						138,300,000	-216,100,000																		-16,500,000	-452,700,000		-631,700,000	-1,033,700,000	-292,600,000				-10,393,700,000				5,903,300,000								7,294,200,000	-8,496,700,000					4,077,800,000
cash flows from financing activities:
net increase/(decrease) in client funds obligations	573,100,000																		3,203,300,000
net cash distributed from the internal revenue service	-11,500,000		-151,200,000	-336,400,000
payments of debt	-300,000	-300,000	-300,000	-300,000	-200,000	-200,000	-300,000	-200,000	-200,000	-300,000	-200,000	-200,000	-200,000	-300,000	-200,000	-200,000	-500,000	-500,000	-1,000,600,000		-500,000	-600,000	-500,000	-500,000	-500,000	-600,000	-500,000	-500,000	-500,000	-5,400,000	-900,000	-500,000	-500,000	-500,000	200,000	-600,000	-600,000	-500,000	-600,000	-600,000	-8,300,000	-500,000	-8,200,000	-500,000	-500,000	-500,000	-400,000	-600,000	-400,000	-4,300,000	-1,600,000	-400,000	-8,100,000
proceeds from the issuance of debt		0	0	988,900,000												990,400,000	0	0	991,100,000
settlement of cash flow hedges		0	0	-12,500,000												-1,000,000	0	0	-43,600,000
repurchases of common stock	-366,000,000	-311,600,000	-272,300,000	-372,600,000	-435,500,000	-291,500,000	-254,700,000	-250,000,000	-264,000,000	-220,200,000	-333,300,000	-487,500,000	-491,400,000	-462,500,000	-528,000,000	-469,800,000	-427,400,000	-261,500,000	-213,600,000		-391,200,000	-305,400,000	-309,700,000	-177,100,000	-234,000,000	-299,500,000	-227,100,000	-393,100,000	-187,900,000	-158,200,000	-250,100,000	-302,800,000	-328,600,000	-64,700,000	-318,000,000	-464,900,000	-308,100,000	-429,500,000	-665,500,000	-303,000,000	-95,100,000	-112,400,000	-194,500,000	-102,000,000	-48,700,000	-249,200,000	-558,000,000	-72,700,000	-52,300,000	-49,800,000	-487,200,000	0	-129,200,000
net (repurchases)/proceeds from stock-based compensation plans and stock purchase plan	-57,800,000
dividends paid	-626,700,000	-628,000,000	-572,500,000	-572,600,000	-575,100,000	-575,900,000	-516,300,000	-515,800,000	-520,600,000	-432,600,000	-432,900,000	-434,300,000	-437,700,000	-393,800,000	-393,200,000	-396,000,000	-397,800,000	-390,700,000	-391,000,000		-392,900,000	-342,700,000	-343,300,000	-343,400,000	-344,600,000	-302,400,000	-302,600,000	-278,600,000	-278,400,000	-253,000,000	-253,700,000	-255,800,000	-241,800,000	-242,400,000	-242,400,000	-229,800,000	-229,000,000	-231,400,000	-234,900,000	-210,600,000	-210,400,000	-192,200,000	-192,100,000	-192,500,000	-176,200,000	-177,700,000	-179,200,000	-177,600,000	-167,600,000	-168,000,000	-175,300,000	-165,500,000	-166,700,000
net proceeds related to reverse repurchase agreements	214,800,000	-1,500,000	-641,800,000	297,100,000				273,800,000			54,800,000				22,300,000
net proceeds from issuance of commercial paper	438,500,000																																							2,477,000,000
net cash flows provided by/(used in) financing activities	164,100,000																		2,524,100,000
effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents	-6,700,000	24,000,000	-53,700,000	17,000,000	-6,700,000	-26,300,000	26,900,000	-16,300,000	-700,000	20,300,000	-44,900,000	-84,500,000	6,700,000	300,000	-21,200,000	3,400,000	-14,300,000	46,800,000	37,900,000	6,900,000	-29,200,000	20,900,000	-33,100,000	5,300,000	-2,000,000	-19,500,000	-12,600,000	-47,300,000	4,000,000	34,900,000	14,200,000
net change in cash, cash equivalents, restricted cash, and restricted cash equivalents	-1,062,900,000	-8,405,000,000	13,812,700,000	-7,294,500,000	-10,038,800,000	6,245,500,000	6,917,400,000	-1,809,600,000	4,758,100,000	7,706,500,000	-17,207,000,000	-8,947,600,000	11,196,400,000	-2,658,100,000	10,049,100,000	-6,978,600,000	3,993,300,000	5,766,800,000	3,308,100,000	-1,465,400,000	-4,796,100,000	11,042,900,000	-4,524,000,000	-7,415,300,000	8,727,500,000	1,075,700,000	-2,133,800,000	-6,902,800,000	-414,900,000	7,776,600,000	-2,098,400,000
cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period	5,054,600,000	0	0	10,086,000,000		0	0	8,771,500,000	0	0	22,783,000,000		0	0	13,143,200,000		0	0	7,053,600,000		0	0	6,796,200,000		0	0	6,542,100,000		0	0	8,181,600,000
cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period	3,991,700,000	-8,405,000,000	13,812,700,000	2,791,500,000		6,245,500,000	6,917,400,000	6,961,900,000	4,758,100,000	7,706,500,000	5,576,000,000		11,196,400,000	-2,658,100,000	23,192,300,000		3,993,300,000	5,766,800,000	10,361,700,000		-4,796,100,000	11,042,900,000	2,272,200,000		8,727,500,000	1,075,700,000	4,408,300,000		-414,900,000	7,776,600,000	6,083,200,000
reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the consolidated balance sheets
cash and cash equivalents	2,478,000,000	464,200,000	111,500,000	2,104,900,000	-378,300,000	1,650,400,000	199,900,000	1,441,400,000	483,400,000	137,300,000	1,207,700,000	-197,900,000	-110,800,000	142,900,000	1,602,100,000	683,700,000	289,300,000	-10,900,000	1,613,100,000		204,600,000	96,500,000	1,403,900,000	123,000,000	-959,400,000	1,295,300,000	1,490,300,000	-123,600,000	520,200,000	-590,200,000	2,363,600,000
restricted cash and restricted cash equivalents included in funds held for clients	1,513,700,000	-8,869,200,000	13,701,200,000	686,600,000	-9,660,500,000	4,595,100,000	6,717,500,000	5,520,500,000	4,274,700,000	7,569,200,000	4,368,300,000	-8,749,700,000	11,307,200,000	-2,801,000,000	21,590,200,000	-7,662,300,000	3,704,000,000	5,777,700,000	8,748,600,000		-5,000,700,000	10,946,400,000	868,300,000	-7,538,300,000	9,686,900,000	-219,600,000	2,918,000,000	-6,779,200,000	-935,100,000	8,366,800,000	3,719,600,000
total cash, cash equivalents, restricted cash, and restricted cash equivalents	3,991,700,000	-8,405,000,000	13,812,700,000	2,791,500,000	-10,038,800,000	6,245,500,000	6,917,400,000	6,961,900,000	4,758,100,000	7,706,500,000	5,576,000,000	-8,947,600,000	11,196,400,000	-2,658,100,000	23,192,300,000	-6,978,600,000	3,993,300,000	5,766,800,000	10,361,700,000		-4,796,100,000	11,042,900,000	2,272,200,000	-7,415,300,000	8,727,500,000	1,075,700,000	4,408,300,000	-6,902,800,000	-414,900,000	7,776,600,000	6,083,200,000
supplemental disclosures of cash flow information:
cash paid for interest	130,300,000	90,400,000	108,800,000	140,700,000	93,000,000	68,100,000	95,800,000	97,000,000	44,000,000	47,800,000	56,700,000	17,700,000	24,000,000	9,200,000	23,900,000	800,000	24,200,000	800,000	27,300,000		33,200,000	17,000,000	53,600,000	18,900,000	35,300,000	23,900,000	49,400,000	14,000,000	32,200,000	12,900,000	41,400,000	8,300,000	33,400,000	3,500,000
cash paid for income taxes, net of income tax refunds	73,800,000	253,400,000	518,800,000	64,700,000	379,100,000	215,700,000	502,500,000	87,900,000	241,700,000	479,600,000	57,500,000	268,900,000	222,200,000	310,700,000	55,000,000	403,600,000	207,400,000	317,300,000	45,400,000		169,800,000	304,800,000	45,600,000	196,100,000	157,400,000	241,000,000	39,300,000	106,700,000	33,800,000	347,300,000	41,900,000	247,900,000	36,300,000	231,300,000
increase in accounts receivable		-44,000,000										47,100,000	-507,600,000	25,800,000	-51,800,000	25,400,000	-278,700,000	-7,800,000	-78,700,000		-82,800,000	-102,000,000	-96,800,000		143,300,000	-430,800,000	-239,200,000		97,800,000					321,200,000	-434,600,000			34,500,000	-24,400,000												-17,200,000	-3,600,000	67,700,000
increase/(decrease) in accounts payable																			5,700,000
increase/(decrease) in accrued expenses and other liabilities																															4,600,000													100,900,000
proceeds from sale of property, plant, and equipment and other assets		0	0	3,300,000		1,900,000	4,400,000	22,000,000					8,000,000	0	26,200,000		6,000,000	1,600,000	200,000
net increase in client funds obligations		-8,456,000,000			-9,985,500,000						-15,592,000,000	-7,970,800,000	13,612,900,000	-684,800,000	12,100,600,000	-6,663,700,000	4,963,500,000							-6,916,000,000				-6,359,800,000							10,304,500,000			-3,736,900,000	-5,910,200,000							-5,936,900,000	-7,392,700,000	8,239,500,000	1,805,000,000	3,639,100,000	-7,779,300,000	-5,127,700,000	-4,146,600,000
net cash (distributed)/received from the internal revenue service
net proceeds from stock purchase plan and stock-based compensation plans		60,100,000	26,600,000	12,000,000	22,600,000	42,100,000	19,100,000	-36,600,000	47,900,000	23,800,000	1,000,000	23,000,000	23,100,000	67,100,000	-16,700,000	30,600,000	34,400,000	47,000,000	-7,900,000		37,700,000	27,700,000	-32,100,000	22,400,000	45,000,000	29,900,000	-24,400,000	23,200,000	51,600,000	9,600,000	-15,100,000		-14,400,000		49,400,000	25,300,000	-22,000,000
net cash flows (used in)/provided by financing activities
increase in accounts payable			34,400,000	48,000,000								24,900,000	-21,400,000	42,000,000	-61,900,000	27,100,000	-400,000
net cash flows from investing activities			-1,257,900,000	-1,644,400,000	-217,200,000						-1,577,600,000	-1,050,700,000	-2,495,300,000	-2,232,000,000	-1,236,400,000	-1,148,600,000	-1,416,800,000	-1,213,800,000	264,200,000				122,200,000	-999,800,000									8,763,900,000				319,200,000			2,504,100,000		-2,859,700,000	715,900,000		-4,314,000,000	5,882,100,000				-4,155,700,000
net cash flows from financing activities			13,974,000,000	-6,491,500,000	-11,115,500,000						-16,302,600,000	-8,725,300,000	12,714,000,000	-1,520,100,000	11,184,800,000	-6,486,200,000	4,172,200,000						-5,045,900,000	-7,153,100,000											9,816,700,000			-4,333,100,000	-6,752,800,000		6,426,700,000			6,243,500,000	3,975,600,000	-6,315,400,000	-7,996,600,000	8,205,500,000	1,691,500,000	3,438,800,000		-4,554,500,000	-4,474,600,000
net decrease in client funds obligations				-10,870,500,000				-1,374,900,000															-8,063,300,000				-1,711,500,000				-1,674,300,000		-8,928,300,000							-5,295,000,000			-1,220,400,000
net proceeds of commercial paper borrowings				4,375,400,000
increase in accrued expenses and other liabilities					353,700,000							19,300,000				73,800,000								71,500,000	-92,700,000			2,300,000	40,000,000			30,000,000		-142,700,000				-19,500,000			105,600,000										110,300,000	-31,900,000	-163,200,000
net cash received from the internal revenue service					-529,300,000
cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year
cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year
decrease in accounts payable						9,900,000	11,400,000	-30,400,000	-11,100,000	10,200,000	-30,700,000												-15,100,000				-2,300,000	29,200,000	-28,400,000	21,800,000	-24,500,000		-36,300,000			1,500,000	-19,500,000		-6,500,000	-11,600,000	12,400,000	2,300,000	-31,400,000	2,400,000	10,300,000	-26,500,000		15,900,000	-22,100,000	-36,600,000			-5,800,000
net payments related to reverse repurchase agreements						-16,500,000			-9,500,000				0				0
(increase)/decrease in accounts receivable								-107,900,000																							-81,700,000											-137,300,000	-73,400,000
net cash flows used in financing activities								-1,903,700,000																			-1,817,700,000				-2,064,700,000									-3,137,500,000			-1,093,300,000
net amortization of premiums and accretion of discounts on available-for-sale securities									1,900,000	7,600,000	16,000,000	24,900,000	27,600,000	25,800,000	22,700,000	20,800,000	20,000,000	16,300,000	12,400,000		14,400,000	14,100,000	12,200,000	11,200,000	11,500,000	13,100,000	14,300,000	15,900,000	17,700,000	18,500,000	19,400,000	19,800,000	23,200,000	23,100,000	23,000,000	23,900,000	24,100,000	24,900,000	25,100,000	22,800,000	19,900,000	19,200,000	18,700,000	15,900,000			12,800,000	13,700,000	14,100,000	13,000,000	13,700,000	14,800,000	14,600,000
net (decrease)/increase in client funds obligations
net pension expense																					-14,200,000	2,300,000	-2,700,000	14,400,000	9,500,000	14,400,000	17,100,000	322,200,000	2,700,000	2,800,000	2,700,000	6,100,000	6,100,000	4,500,000	4,400,000	4,400,000	4,400,000	3,900,000	3,900,000	7,400,000	10,900,000	10,900,000	10,900,000	9,200,000	9,100,000	9,200,000	10,400,000	10,100,000	10,100,000	10,100,000	8,700,000	8,700,000	8,300,000
impairment of assets																12,300,000	2,600,000	2,200,000	2,800,000
gain on sale of assets															-1,300,000	-6,400,000	-1,600,000	-1,600,000	-200,000		0	-200,000	-1,900,000																					0
net (payments)/proceeds related to reverse repurchase agreements																			-13,600,000
cash provided by:
operating activities
investing activities
financing activities
impairment of intangible assets																								0	0	0	12,100,000
changes in operating assets and liabilities, net of effects from acquisitions:
(decrease) / increase in accounts payable
(decrease) / increase in accrued expenses and other liabilities																					115,800,000
net cash flows from / (used in) investing activities
net payments of reverse repurchase agreements																					0
net cash flows (used in) / provided by financing activities																																	-9,513,600,000
net increase / (decrease) in client funds obligations
net proceeds from commercial paper borrowings																							3,536,700,000
net cash flows from / (used in) financing activities																													-922,100,000								1,144,100,000
net proceeds from reverse repurchase agreements																							166,300,000				448,400,000				129,400,000									98,700,000		-428,200,000	441,700,000
gain on sale of divested businesses, net of tax																																0		0	0	0	-21,800,000
changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses:
proceeds from the sale of divested businesses																																0		0	0	-300,000	162,500,000
proceeds from the sale of property, plant, and equipment																									0
increase / (decrease) in accounts payable
net (decrease) / increase in client funds obligations																																					-275,100,000
decrease in other assets
proceeds from debt issuance
gain on sale of building																																		0	0																3,800,000
decrease/(increase) in accounts receivable
proceeds from the sale of notes receivable																																						0	1,200,000
operating activities of discontinued operations																																						-800,000	0		0	1,300,000	100,000								0
net decrease/(increase) in restricted cash and cash equivalents held to satisfy client funds obligations
dividend received from cdk global, inc.																																						0	0
cash retained by cdk global, inc.																																						0	0
investing activities of discontinued operations																																						-1,300,000	0		0										0
net cash flows provided by/(used in) investing activities
proceeds from stock purchase plan and exercises of stock options																																						21,400,000	58,900,000	61,200,000	59,800,000	49,300,000	80,200,000	72,100,000	69,300,000	48,900,000	132,700,000	216,900,000	106,800,000	21,800,000	39,800,000	7,600,000	-24,000,000
net repayments from issuance of commercial paper
financing activities of discontinued operations																																						-100,000	0
effect of exchange rate changes on cash and cash equivalents																																25,500,000	5,400,000	-5,500,000	15,400,000	-9,800,000	-11,100,000	6,200,000	-49,800,000	2,000,000	-12,600,000	4,400,000	11,800,000	10,000,000	-10,800,000	-23,500,000	5,400,000	13,400,000	-5,100,000	28,000,000	-15,600,000	35,400,000	1,800,000
net change in cash and cash equivalents																																-215,100,000	-414,500,000	249,700,000	146,500,000	-389,800,000	1,545,400,000	-169,300,000	-42,200,000	-550,100,000	256,800,000	273,500,000	-430,700,000	333,800,000	82,400,000	-140,500,000	-211,500,000	295,200,000	129,000,000	-466,600,000	-321,700,000	901,900,000	58,500,000
cash and cash equivalents, beginning of period																																0	3,191,100,000	0	0	0	1,639,300,000	0	0					0	0	1,389,400,000		0	0	1,643,300,000
cash and cash equivalents, end of period																																-215,100,000	2,776,600,000	249,700,000	146,500,000	-389,800,000	3,184,700,000	-169,300,000	-42,200,000					333,800,000	82,400,000	1,248,900,000		295,200,000	129,000,000	1,176,700,000
net decrease / (increase) in restricted cash and cash equivalents held to satisfy client funds obligations																																	9,160,800,000
net proceeds from debt issuance																																			12,000,000	-100,000	1,986,400,000
decrease / (increase) in accounts receivable																																	121,000,000
excess tax benefit related to exercise of stock options and restricted stock																																		-3,800,000	-10,900,000	-6,800,000	-15,900,000	-20,500,000	500,000
net realized loss / (gain) from the sales of marketable securities
net (increase) / decrease in restricted cash and cash equivalents held to satisfy client funds obligations																																					-137,800,000
net cash flows (used in) / provided by investing activities
net repayments from reverse repurchase agreements
net (repayments) / proceeds from issuance of commercial paper
less cash and cash equivalents of discontinued operations, end of period
cash and cash equivalents of continuing operations, end of period																																		249,700,000	146,500,000	-389,800,000	3,184,700,000	-169,300,000	-42,200,000	1,149,000,000	256,800,000	273,500,000	1,117,400,000
net increase in restricted cash and cash equivalents held to satisfy client funds obligations																																			-9,906,700,000				6,247,600,000									-7,947,700,000	-1,064,100,000	-3,380,400,000
net repayments of commercial paper borrowings																																							0
(increase) / decrease in accounts receivable																																					-32,300,000
net realized gain from the sales of marketable securities																																						-2,600,000	-600,000	-3,500,000	-6,000,000	-9,300,000	-4,500,000	-3,600,000	-8,200,000	-4,000,000				-11,800,000		-2,500,000	6,600,000
goodwill impairment
gains on sales of buildings																																									0							0	0	-1,800,000
gain on sale of discontinued businesses, net of tax																																									0											-5,400,000	0
net decrease in restricted cash and cash equivalents held to satisfy client funds obligations																																								2,390,500,000			943,600,000
proceeds from the sale of businesses included in discontinued operations																																									0										0
net (repayments of) / proceeds from reverse repurchase agreements
net (repayments of) / proceeds from issuance of commercial paper
proceeds from the sale of business included in discontinued operations
net repayments of reverse repurchase agreements
(decrease)/increase in accrued expenses and other liabilities
impairment losses on available-for-sale securities																																												0							9,100,000
impairment losses on assets held for sale																																															3,100,000	0	0	8,600,000
changes in operating assets and liabilities, net of effects from acquisitions
and divestitures of businesses:
cash and cash equivalents of continuing operations, beginning of period																																								1,699,100,000	0	0	1,548,100,000										0
decrease (increase) in accounts receivable																																								12,200,000
adjustments to reconcile net earnings to cash flows from operating activities
changes in operating assets and liabilities, net of effects from acquisitions and divestiture of business:
adjustments to reconcile net earnings to cash flows provided by
operating activities:
net (increase)/decrease in restricted cash and cash equivalents held to satisfy client funds obligations
net cash flows (used in)/provided by operating activities																																											-65,100,000
proceeds from the sale of property, plant and equipment and other assets																																												0
net amortization of premiums and accretion of discounts
on available-for-sale securities																																														12,800,000
changes in operating assets and liabilities, net of effects
from acquisitions and divestitures of businesses:
proceeds from the sales and maturities of corporate
and client funds marketable securities																																														844,300,000
net decrease (increase) in restricted cash and cash equivalents
held to satisfy client fund obligations																																														6,192,200,000
proceeds from the sale of property, plant and equipment																																															0	0	100,000	13,000,000	0	5,800,000	0
cash flows from operating activities
excess tax benefit related to exercises of stock options
net realized (gain) income from the sales of marketable securities
gain on sales of buildings
(increase) in accounts receivable
cash flows from investing activities
net increase in restricted cash and cash equivalents and other restricted assets held to satisfy client funds obligations																																																				4,515,000,000	3,915,900,000
reclassification from cash and cash equivalents to short-term marketable securities																																																				0	0
cash flows from financing activities
proceeds from issuance of debt																																																				0	0
net purchases of reverse repurchase agreements																																																					0
net (repayment) proceeds of commercial paper borrowing
cash and cash equivalents of continuing operations, beginning of year
cash and cash equivalents of discontinued operations, beginning of year
cash and cash equivalents, end of year
less cash and cash equivalents of discontinued operations, end of year
cash and cash equivalents of continuing operations, end of year
net realized (gain)/income from the sales of marketable securities																																																-4,300,000
(increase)/decrease in other assets																																																-12,500,000
net repayment of commercial paper
changes in operating assets and liabilities, net of effects from acquistions and divestitures of businesses:
decrease (increase) in other assets																																																			-125,100,000
net (purchases of) proceeds from reverse repurchase agreements
net cash flows from (used in) financing activities
net realized income from the sales of marketable securities
(gain) loss on sale of discontinued businesses, net of tax
net increase in restricted cash and cash equivalents and other restricted assets
held to satisfy client funds obligations
net repayment of commercial paper borrowing
cash and cash equivalents of discontinued operations, beginning of period
gain on sale of cost-based investment
(increase) in other assets
proceeds from the sale of cost-based investment
dividend received from broadridge financial solutions, inc., net of 29.9 million in cash retained by broadridge financial solutions, inc.
proceeds from the sale of businesses included in discontinued operations, net of cash divested
gain on sale of assets held for sale																																																					0
impairment of assets of discontinued operations businesses
net decrease (increase) in restricted cash and cash equivalents and other restricted assets held to satisfy client funds obligations
see notes to consolidated financial statements.

ADP, LLC(NASDAQ:ADP)

ADP, LLC
(NASDAQ:ADP)