NOTE 2. DIVESTITURES

On June 26, 2015, the Company completed the sale of its Procure-to-Pay business ("P2P") for a pre-tax gain of $102.3 million, less costs to sell, and recorded such gain within earnings from discontinued operations on the Statements of Consolidated Earnings. In connection with the disposal of P2P, the Company has classified the results of operations of this business as discontinued operations for all periods presented. P2P was previously reported in the Employer Services segment.

On September 30, 2014, the Company completed the tax free spin-off of its former Dealer Services business, which was a separate reportable segment, into an independent publicly traded company called CDK Global, Inc. ("CDK"). As a result of the spin-off, ADP stockholders of record on September 24, 2014 (the "record date") received one share of CDK common stock on September 30, 2014, par value $0.01 per share, for every three shares of ADP common stock held by them on the record date and cash for any fractional shares of CDK common stock. ADP distributed approximately 160.6 million shares of CDK common stock in the distribution. The spin-off was made without the payment of any consideration or the exchange of any shares by ADP stockholders. The spin-off, transitional, and on-going relationships between ADP and CDK are governed by the Separation and Distribution Agreement entered into between ADP and CDK and certain other ancillary agreements.

Incremental costs associated with the spin-off of CDK and divestiture of P2P of $50.1 million for fiscal 2015 are included in discontinued operations on the Statements of Consolidated Earnings.

On February 28, 2014, the Company completed the sale of its Occupational Health and Safety services business ("OHS") for a pre-tax gain of $15.6 million, less costs to sell, and recorded such gain within earnings from discontinued operations on the Statements of Consolidated Earnings. In connection with the disposal of OHS, the Company classified the results of this business as discontinued operations for all periods presented. OHS was previously reported in the Employer Services segment.

On December 17, 2012, the Company completed the sale of its Taxware Enterprise Service business ("Taxware") for a pre-tax gain of $58.8 million, less costs to sell, and recorded such gain within earnings from discontinued operations on the Statements of Consolidated Earnings. In connection with the disposal of Taxware, the Company has classified the results of this business as discontinued operations for all periods presented. Taxware was previously reported in the Employer Services segment.

Results for discontinued operations were as follows:



Years ended June 30,	2015			2014		2013
Revenues	$	538.8		$	1,993.1	$	1,891.9

Earnings from discontinued operations before income taxes	69.2			399.3		382.2
Provision for income taxes	71.6			136.5		135.3
Net (loss) / earnings from discontinued operations before gain on disposal of discontinued operations	(2.4		)	262.8		246.9

Gain on disposal of discontinued operations, less costs to sell	102.3			15.6		58.8
Provision for income taxes	23.9			5.1		22.1
Net gain on disposal of discontinued operations	78.4			10.5		36.7

Net earnings from discontinued operations	$	76.0		$	273.3	$	283.6

The following are the major classes of assets and liabilities related to the discontinued operations as of June 30, 2014. There were no assets or liabilities of discontinued operations as of June 30, 2015.



	June 30, 2014
Assets:
Cash	$	399.6
Accounts receivable, net	301.6
Property, plant and equipment, net	110.3
Goodwill	1,230.3
Intangible assets, net	141.3
Other assets	247.1

Total assets	$	2,430.2

Liabilities:
Accounts payable	$	17.6
Accrued expenses and other current liabilities	128.9
Accrued payroll and payroll related expenses	100.0
Income taxes payable	0.7
Deferred revenues	233.5
Deferred income taxes	72.8
Other liabilities	48.0

Total liabilities	$	601.5