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Statements of Consolidated Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
REVENUES:        
Revenues, other than interest on funds held for clients and PEO revenues $ 2,329.8 $ 2,283.8 $ 6,444.4 $ 6,196.6
Interest on funds held for clients 111.6 102.8 292.6 280.0
PEO revenues (A) [1] 969.4 862.0 2,577.9 2,292.9
TOTAL REVENUES 3,410.8 3,248.6 9,314.9 8,769.5
Costs of revenues:        
Operating expenses 1,701.5 1,611.6 4,793.4 4,530.9
Systems development and programming costs 153.3 147.3 460.6 453.0
Depreciation and amortization 56.2 53.8 168.4 157.8
TOTAL COSTS OF REVENUES 1,911.0 1,812.7 5,422.4 5,141.7
Selling, general, and administrative expenses 665.0 634.4 1,953.6 1,866.7
Interest expense 16.8 16.3 57.2 38.1
TOTAL EXPENSES 2,592.8 2,463.4 7,433.2 7,046.5
Other income, net (9.9) (9.6) (261.0) (84.7)
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 827.9 794.8 2,142.7 1,807.7
Provision for income taxes 240.0 262.3 675.1 596.3
NET EARNINGS FROM CONTINUING OPERATIONS 587.9 532.5 1,467.6 1,211.4
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES 0.0 0.0 0.0 (1.4)
Benefit for income taxes 0.0 0.0 0.0 (0.5)
NET LOSS FROM DISCONTINUED OPERATIONS 0.0 0.0 0.0 (0.9)
NET EARNINGS $ 587.9 $ 532.5 $ 1,467.6 $ 1,210.5
Basic Earnings Per Share from Continuing Operations (in US$ per share) $ 1.32 $ 1.17 $ 3.27 $ 2.64
Basic Loss Per Share from Discontinued Operations (in US$ per share) 0.00 0.00 0.00 0.00
BASIC EARNINGS PER SHARE (in US$ per share) 1.32 1.17 3.27 2.64
Diluted Earnings Per Share from Continuing Operations (in US$ per share) 1.31 1.17 3.25 2.63
Diluted Loss Per Share from Discontinued Operations (in US$ per share) 0.00 0.00 0.00 0.00
DILUTED EARNINGS PER SHARE (in US$ per share) $ 1.31 $ 1.17 $ 3.25 $ 2.63
Basic weighted average shares outstanding (shares) 446.5 454.4 448.9 458.2
Diluted weighted average shares outstanding (shares) 449.2 456.9 451.3 460.6
Dividends declared per common share (in US$ per share) $ 0.570 $ 0.530 $ 1.670 $ 1.550
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $9,207.2 million and $8,374.8 million for the three months ended March 31, 2017 and 2016, respectively, and $26,040.3 million and $23,613.0 million for the nine months ended March 31, 2017 and 2016, respectively.