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Statements of Consolidated Earnings - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
REVENUES:        
Interest on funds held for clients $ 137.7 $ 129.1 $ 271.5 $ 247.6
PEO revenues (A) [1] 1,133.4 1,043.5 2,189.0 2,017.3
TOTAL REVENUES 3,669.5 3,492.4 7,165.2 6,802.7
Revenues, Net 2,398.4 2,319.8 4,704.7 4,537.8
Costs of revenues:        
Operating expenses 1,836.0 1,772.4 3,623.6 3,469.5
Systems development and programming costs 168.7 156.1 336.9 314.1
Depreciation and amortization 89.4 71.7 178.3 144.3
TOTAL COSTS OF REVENUES 2,094.1 2,000.2 4,138.8 3,927.9
Selling, general, and administrative expenses 754.3 745.2 1,480.9 1,459.0
Interest expense 31.6 38.6 71.5 74.5
TOTAL EXPENSES 2,880.0 2,784.0 5,691.2 5,461.4
Other income, net (46.0) (32.6) (100.6) (46.5)
EARNINGS BEFORE INCOME TAXES 835.5 741.0 1,574.6 1,387.8
Provision for income taxes 183.9 182.8 340.6 324.2
NET EARNINGS $ 651.6 $ 558.2 $ 1,234.0 $ 1,063.6
Basic earnings per share (in US$ per share) $ 1.51 $ 1.28 $ 2.86 $ 2.44
Diluted earnings per share (in US$ per share) $ 1.50 $ 1.27 $ 2.84 $ 2.42
Basic weighted average shares outstanding (shares) 431.5 435.7 432.1 436.2
Diluted weighted average shares outstanding (shares) 433.3 438.0 434.3 438.9
Direct pass-through costs PEO revenues $ 12,371.6 $ 11,751.1 $ 22,882.2 $ 21,380.5
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $12,371.6 million and $11,751.1 million for the three months ended December 31, 2019 and 2018, respectively, and $22,882.2 million and $21,380.5 million for the six months ended December 31, 2019 and 2018, respectively.