XML 20 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Statements of Consolidated Cash Flows - USD ($)
$ in Millions
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net earnings $ 1,817.4 $ 1,744.0
Adjustments to reconcile net earnings to cash flows provided by operating activities:    
Depreciation and amortization 299.6 278.3
Amortization of deferred contract costs 655.2 623.5
Deferred income taxes 4.1 (145.5)
Stock-based compensation expense 122.2 119.4
Net pension expense 41.0 8.2
Net amortization of premiums and accretion of discounts on available-for-sale securities 38.9 55.6
Impairment of intangible assets 12.1 0.0
Other 21.2 22.0
Changes in operating assets and liabilities, net of effects from acquisitions:    
Increase in accounts receivable (526.7) (239.3)
Increase in other assets (748.9) (696.1)
Increase / (decrease) in accounts payable 25.4 (31.1)
Increase in accrued expenses and other liabilities 194.5 71.0
Net cash flows provided by operating activities 1,956.0 1,810.0
Cash Flows from Investing Activities:    
Purchases of corporate and client funds marketable securities (2,725.8) (3,692.7)
Proceeds from the sales and maturities of corporate and client funds marketable securities 2,090.6 2,702.5
Capital expenditures (120.3) (159.6)
Additions to intangibles (329.9) (195.8)
Acquisitions of businesses, net of cash acquired (120.4) (612.4)
Proceeds from the sale of property, plant, and equipment 7.9 0.0
Net cash flows used in investing activities (1,197.9) (1,958.0)
Cash Flows from Financing Activities:    
Net increase in client funds obligations 8,612.0 6,700.2
Payments of debt (1.6) (6.8)
Repurchases of common stock (760.6) (596.2)
Net proceeds from stock purchase plan and stock-based compensation plans 50.5 46.1
Dividends paid (949.6) (785.1)
Other (5.3) 0.0
Net cash flows (used in) / provided by financing activities 6,945.4 5,358.2
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents (34.1) 53.1
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents 7,669.4 5,263.3
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 6,542.1 8,181.6
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period 14,211.5 13,444.9
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets    
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 6,542.1 8,181.6
Supplemental disclosures of cash flow information:    
Cash paid for interest 108.6 86.5
Cash paid for income taxes, net of income tax refunds $ 437.7 $ 423.0