XML 15 R2.htm IDEA: XBRL DOCUMENT v3.19.1
Statements of Consolidated Earnings - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
REVENUES:        
Revenues, other than interest on funds held for clients and PEO revenues $ 2,546.9 $ 2,495.2 $ 7,084.7 $ 6,764.5
Interest on funds held for clients 167.4 134.8 415.0 340.9
PEO revenues (A) [1] 1,133.1 1,066.0 3,176.8 2,906.1
TOTAL REVENUES 3,847.4 3,696.0 10,676.5 10,011.5
Costs of revenues:        
Operating expenses 1,874.5 1,845.2 5,370.4 5,185.0
Systems development and programming costs 160.1 163.9 474.2 481.5
Depreciation and amortization 77.2 70.2 221.5 202.1
TOTAL COSTS OF REVENUES 2,111.8 2,079.3 6,066.1 5,868.6
Selling, general, and administrative expenses 750.4 750.1 2,209.4 2,149.0
Interest expense 21.7 18.6 96.2 74.1
TOTAL EXPENSES 2,883.9 2,848.0 8,371.7 8,091.7
Other income, net (21.0) (27.2) (67.5) (107.9)
EARNINGS BEFORE INCOME TAXES 984.5 875.2 2,372.3 2,027.7
Provision for income taxes 230.8 214.2 554.9 283.7
NET EARNINGS $ 753.7 $ 661.0 $ 1,817.4 $ 1,744.0
BASIC EARNINGS PER SHARE (in US$ per share) $ 1.74 $ 1.50 $ 4.17 $ 3.95
DILUTED EARNINGS PER SHARE (in US$ per share) $ 1.73 $ 1.49 $ 4.15 $ 3.93
Basic weighted average shares outstanding (shares) 434.1 441.0 435.5 441.5
Diluted weighted average shares outstanding (shares) 436.6 443.4 438.1 444.1
Direct pass-through costs PEO revenues $ 10,798.3 $ 10,176.2 $ 32,178.8 $ 29,547.0
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $10,798.3 million and $10,176.2 million for the three months ended March 31, 2019 and 2018, respectively, and $32,178.8 million and $29,547.0 million for the nine months ended March 31, 2019 and 2018, respectively.