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Statements of Consolidated Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
REVENUES:    
Revenues, other than interest on funds held for clients and PEO revenues $ 2,218.6 $ 2,078.9
Interest on funds held for clients 118.5 99.4
PEO revenues (A) [1] 986.1 898.9
TOTAL REVENUES 3,323.2 3,077.2
Costs of revenues:    
Operating expenses 1,709.9 1,630.7
Systems development and programming costs 158.0 158.2
Depreciation and amortization 72.6 62.6
TOTAL COSTS OF REVENUES 1,940.5 1,851.5
Selling, general, and administrative expenses 713.9 675.4
Interest expense 35.9 28.0
TOTAL EXPENSES 2,690.3 2,554.9
Other income, net (13.9) (42.6)
EARNINGS BEFORE INCOME TAXES 646.8 564.9
Provision for income taxes 141.4 152.3
NET EARNINGS $ 505.4 $ 412.6
BASIC EARNINGS PER SHARE (in US$ per share) $ 1.16 $ 0.93
DILUTED EARNINGS PER SHARE (in US$ per share) $ 1.15 $ 0.93
Basic weighted average shares outstanding (shares) 436.8 442.2
Diluted weighted average shares outstanding (shares) 439.9 445.0
Dividends declared per common share (in US$ per share) $ 0.69 $ 0.57
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $9,629.4 million and $8,738.5 million for the three months ended September 30, 2018 and 2017, respectively.