XML 14 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Statements of Consolidated Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
REVENUES:        
Revenues, other than interest on funds held for clients and PEO revenues $ 2,492.9 $ 2,329.8 $ 6,762.7 $ 6,444.4
Interest on funds held for clients 134.8 111.6 340.9 292.6
PEO revenues (A) [1] 1,065.3 969.4 2,903.6 2,577.9
TOTAL REVENUES 3,693.0 3,410.8 10,007.2 9,314.9
Costs of revenues:        
Operating expenses 1,844.7 1,701.5 5,210.6 4,793.4
Systems development and programming costs 162.5 153.3 477.6 460.6
Depreciation and amortization 70.2 56.2 202.1 168.4
TOTAL COSTS OF REVENUES 2,077.4 1,911.0 5,890.3 5,422.4
Selling, general, and administrative expenses 755.1 665.0 2,134.8 1,953.6
Interest expense 18.6 16.8 74.1 57.2
TOTAL EXPENSES 2,851.1 2,592.8 8,099.2 7,433.2
Other income, net (10.7) (9.9) (58.5) (261.0)
EARNINGS BEFORE INCOME TAXES 852.6 827.9 1,966.5 2,142.7
Provision for income taxes 209.5 240.0 454.4 675.1
NET EARNINGS $ 643.1 $ 587.9 $ 1,512.1 $ 1,467.6
BASIC EARNINGS PER SHARE (in US$ per share) $ 1.46 $ 1.32 $ 3.42 $ 3.27
DILUTED EARNINGS PER SHARE (in US$ per share) $ 1.45 $ 1.31 $ 3.40 $ 3.25
Basic weighted average shares outstanding (shares) 441.0 446.5 441.5 448.9
Diluted weighted average shares outstanding (shares) 443.4 449.2 444.1 451.3
Dividends declared per common share (in US$ per share) $ 0.63 $ 0.57 $ 1.83 $ 1.67
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $10,176.2 million and $9,207.2 million for the three months ended March 31, 2018 and 2017, respectively, and $29,547.0 million and $26,040.3 million for the nine months ended March 31, 2018 and 2017, respectively.