XML 84 R43.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies Revenue Recognition Restatement (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Revenue Recognition Restatement                      
Other Assets, Current $ 506.2       $ 509.1       $ 506.2 $ 509.1  
Interest on funds held for clients                 545.2 561.9 $ 466.5
PEO revenues [1]                 4,506.5 4,172.5 3,824.3
TOTAL REVENUES 3,376.8 $ 4,047.8 $ 3,669.5 $ 3,495.7 3,479.3 [2] $ 3,828.2 [2] $ 3,492.4 [2] $ 3,310.3 [2] 14,589.8 14,110.2 13,274.2
Revenues, Net                 9,538.1 9,375.8 8,983.4
Operating expenses                 7,404.1 7,080.9 6,847.5
Systems development and programming costs                 674.1 636.3 635.4
Cost, Depreciation and Amortization                 366.9 304.4 274.5
Selling, general, and administrative expenses                 3,003.0 3,064.2 2,959.4
Interest Expense                 107.1 129.9 102.7
Total Expenses                 11,555.2 11,215.7 10,819.5
Other expense/(income), net                 (148.0) (111.1) 172.1
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 531.3 1,076.7 835.5 739.1 633.3 984.5 741.0 646.8 3,182.6 3,005.6 2,282.6
Provision for income taxes                 716.1 712.8 397.7
NET EARNINGS 411.5 $ 820.9 $ 651.6 $ 582.4 475.5 $ 753.7 $ 558.2 $ 505.4 2,466.5 2,292.8 1,884.9
Assets, Current 31,564.1       34,342.3       31,564.1 34,342.3  
Deferred contract costs [3] 2,401.6       2,428.5       2,401.6 2,428.5  
Other Assets, Noncurrent 458.4       934.4       458.4 934.4  
Total assets 39,165.5       41,887.7       39,165.5 41,887.7 38,849.1
Liabilities, Current 30,126.6       32,627.7       30,126.6 32,627.7  
Deferred Revenue, Noncurrent 370.6       399.3       370.6 399.3  
Liabilities 33,413.3       36,487.8       33,413.3 36,487.8  
Retained Earnings (Accumulated Deficit) 18,436.3       17,500.6       18,436.3 17,500.6  
Stockholders' Equity Attributable to Parent 5,752.2       5,399.9       5,752.2 5,399.9  
Liabilities and Equity $ 39,165.5       $ 41,887.7       39,165.5 41,887.7  
Capitalized Contract Cost, Amortization                 915.0 874.0 837.4
Deferred Income Tax Expense (Benefit), Net of Disposals                 26.0 9.3 (152.0)
Increase (Decrease) in Other Operating Assets                 910.4 987.2 858.3
Increase (Decrease) in Accrued Liabilities                 (77.5) 266.0 110.5
Net Cash Provided by (Used in) Operating Activities                 $ 3,026.2 2,688.3 2,515.2
Previously Reported [Member]                      
Revenue Recognition Restatement                      
PEO revenues                   4,237.5 3,877.8
TOTAL REVENUES                   14,175.2 13,327.7
Operating expenses                   7,145.9 6,901.0
Total Expenses                   11,280.7 10,873.0
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES                   3,005.6 2,282.6
Provision for income taxes                   712.8 397.7
NET EARNINGS                   2,292.8 1,884.9
Restatement Adjustment [Member]                      
Revenue Recognition Restatement                      
PEO revenues                   (65.0) (53.5)
TOTAL REVENUES                   (65.0) (53.5)
Operating expenses                   (65.0) (53.5)
Total Expenses                   (65.0) (53.5)
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES                   0.0 0.0
Provision for income taxes                   0.0 0.0
NET EARNINGS                   $ 0.0 $ 0.0
Minimum [Member]                      
Revenue Recognition Restatement                      
Revenue, Service Agreements, Term                 30 days    
[1] For the years ended June 30, 2020 (“fiscal 2020”), June 30, 2019 (“fiscal 2019”), and June 30, 2018 (“fiscal 2018”), Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $45,826.1 million, $42,688.8 million, and $39,140.9 million, respectively.
[2] (A) The prior period amounts presented have been revised to correct the amounts previously reported on a gross basis to a net basis by reducing PEO revenues and operating expenses for associated costs of an equal amount of $12.9 million, $13.5 million, $19.2 million and $19.4 million for the first quarter, second quarter, third quarter and fourth quarter, respectively. Refer to Note 1 to our consolidated financial statements for more information on this revision.
[3] (1) The amount of total deferred costs amortized during the twelve months ended June 30, 2020, June 30, 2019, and June 30, 2018 were $915.0 million, $874.0 million, and $837.4 million, respectively.