XML 70 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Statements Of Consolidated Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Statement of Cash Flows [Abstract]    
NET EARNINGS $ 328.6 $ 305.3
Adjustments to reconcile net earnings to cash flows provided by operating activities:    
Depreciation and amortization 80.5 78.3
Deferred income taxes 18.7 7.1
Stock-based compensation expense 27.2 21.0
Net pension expense 7.4 10.9
Net realized gain from the sales of marketable securities (3.5) (4.5)
Net amortization of premiums and accretion of discounts on available-for-sale securities 22.8 18.7
Other (24.4) 9.7
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses:    
Decrease/(increase)in accounts receivable 12.2 (73.4)
Increase in other assets (290.0) (330.5)
Decrease in accounts payable (11.6) (31.4)
Decrease/(increase) in accrued expenses and other liabilities (86.6) (76.4)
Operating activities of discontinued operations 0 0.1
Net cash flows provided by (used in) operating activities 81.3 (65.1)
Cash Flows from Investing Activities:    
Purchases of corporate and client funds marketable securities (369.1) (765.5)
Proceeds from the sales and maturities of corporate and client funds marketable securities 571.6 602.5
Net decrease in restricted cash and cash equivalents held to satisfy client funds obligations 2,390.5 943.6
Capital expenditures (46.4) (30.5)
Additions to intangibles (32.8) (33.5)
Acquisitions of businesses, net of cash acquired (9.7) (0.7)
Net cash flows provided by investing activities 2,504.1 715.9
Cash Flows from Financing Activities:    
Net decrease in client funds obligations (5,295.0) (1,220.4)
Payments of debt (0.6) (8.2)
Repurchases of common stock (303.0) (194.5)
Proceeds from stock purchase plan and exercises of stock options 61.2 80.2
Dividends paid (210.6) (192.1)
Net proceeds from reverse repurchase agreements 98.7 441.7
Net proceeds from issuance of commercial paper 2,477.0 0
Other 34.8 0
Net cash flows used in financing activities (3,137.5) (1,093.3)
Effect of exchange rate changes on cash and cash equivalents 2.0 11.8
Net change in cash and cash equivalents (550.1) (430.7)
Cash and cash equivalents of continuing operations, beginning of period 1,699.1 [1] 1,548.1
Cash and cash equivalents of continuing operations, end of period $ 1,149.0 [1] $ 1,117.4
[1] As of September 30, 2013, $234.0 million of long-term marketable securities, $103.6 million of short-term marketable securities, and $3.3 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 10). As of June 30, 2013, $245.2 million of long-term marketable securities and $0.7 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 10).