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Statements of Consolidated Earnings - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
REVENUES:        
Revenues $ 4,513.0 $ 4,102.0 $ 12,370.6 $ 11,268.4
Costs of revenues:        
Operating expenses 2,212.5 1,999.5 6,184.0 5,609.5
Systems development and programming costs 197.3 178.6 585.8 521.8
Depreciation and amortization 102.4 100.0 306.2 303.5
TOTAL COSTS OF REVENUES 2,512.2 2,278.1 7,076.0 6,434.8
Selling, general, and administrative expenses 817.5 763.0 2,319.0 2,199.8
Interest expense 18.4 13.5 55.3 42.4
TOTAL EXPENSES 3,348.1 3,054.6 9,450.3 8,677.0
Other (income)/expense, net (25.0) (18.8) (80.4) (72.7)
EARNINGS BEFORE INCOME TAXES 1,189.9 1,066.2 3,000.7 2,664.1
Provision for income taxes 261.4 255.5 677.3 603.8
NET EARNINGS $ 928.5 $ 810.7 $ 2,323.4 $ 2,060.3
BASIC EARNINGS PER SHARE (in US$ per share) $ 2.22 $ 1.90 $ 5.53 $ 4.82
DILUTED EARNINGS PER SHARE (in US$ per share) $ 2.21 $ 1.90 $ 5.51 $ 4.80
Basic weighted average shares outstanding (shares) 418.1 425.8 419.8 427.3
Diluted weighted average shares outstanding (shares) 420.2 427.7 422.0 428.9
Revenues, other than interest on funds held for clients and PEO revenues        
REVENUES:        
Revenues $ 2,882.3 $ 2,671.2 $ 7,911.9 $ 7,346.1
Interest on funds held for clients        
REVENUES:        
Revenues 118.0 107.4 325.0 319.2
PEO Revenues        
REVENUES:        
Revenues [1] $ 1,512.7 $ 1,323.4 $ 4,133.7 $ 3,603.1
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $16,826.6 million and $13,894.6 million for the three months ended March 31, 2022 and 2021, respectively, and $46,863.8 million and $38,259.5 million for the nine months ended March 31, 2022 and 2021, respectively.