10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2011 | |||
Statements Of Consolidated Earnings | |||
Period Ending June 30, 2011 10-K (Filed: Aug 24, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2011 | June 30, 2010 | June 30, 2009 | |
| REVENUES: | |||
| Revenues, other than interest on funds held for clients and PEO revenues | $ 7,805,500 | 7,077,700 | 7,051,700 |
| Interest on funds held for clients | 540,100 | 542,800 | 609,800 |
| PEO revenues | 1,533,900 | 1,307,200 | 1,176,900 [1] |
| TOTAL REVENUES | 9,879,500 | 8,927,700 | 8,838,400 |
| EXPENSES: | |||
| Operating expenses | 4,900,900 | 4,277,200 | 4,087,000 |
| Systems development and programming costs | 577,200 | 513,900 | 498,300 |
| Depreciation and amortization | 253,400 | 238,600 | 237,400 |
| TOTAL COSTS OF REVENUES | 5,731,500 | 5,029,700 | 4,822,700 |
| Selling, general and administrative expenses | 2,323,300 | 2,127,400 | 2,190,300 |
| Interest expense | 8,600 | 8,600 | 33,300 |
| TOTAL EXPENSES | 8,063,400 | 7,165,700 | 7,046,300 |
| Other income, net | (116,600) | (101,200) | (108,000) |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,932,700 | 1,863,200 | 1,900,100 |
| Provision for income taxes | 678,500 | 655,900 | 575,000 |
| NET EARNINGS FROM CONTINUING OPERATIONS | 1,254,200 | 1,207,300 | 1,325,100 |
| Earnings from discontinued operations, net of provision for income taxes of $7.0 and $0.7 for the fiscal years ended June 30, 2010 and 2009, respectively. | 4,100 | 7,500 | |
| NET EARNINGS | 1,254,200 | 1,211,400 | 1,332,600 |
| Basic earnings per share from continuing operations | 2.54 | 2.41 | 2.63 |
| Basic earnings per share from discontinued operations | 0.01 | 0.01 | |
| BASIC EARNINGS PER SHARE | 2.54 | 2.42 | 2.65 |
| Diluted earnings per share from continuing operations | 2.52 | 2.40 | 2.62 |
| Diluted earnings per share from discontinued operations | 0.01 | 0.01 | |
| DILUTED EARNINGS PER SHARE | 2.52 | 2.40 | 2.63 |
| Basic weighted average shares outstanding | 493,500 | 500,500 | 503,200 |
| Diluted weighted average shares outstanding | 498,300 | 503,700 | 505,800 |
| [1] Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $15,765.3, $13,318.7, and $12,310.4, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2011 | |||
Statements Of Consolidated Cash Flows | |||
Period Ending June 30, 2011 10-K (Filed: Aug 24, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2011 | June 30, 2010 | June 30, 2009 | |
| Cash Flows from Operating Activities: | |||
| Net earnings | $ 1,254,200 | 1,211,400 | 1,332,600 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | |||
| Depreciation and amortization | 318,200 | 309,200 | 307,700 [1] |
| Deferred income taxes | 107,600 | 96,100 | (47,900) |
| Stock-based compensation expense | 76,300 | 67,600 | 96,000 |
| Excess tax benefit related to exercises of stock options | (1,000) | (200) | (1,500) |
| Net pension expense | 40,700 | 34,700 | 33,800 |
| Net realized (gain) loss from the sales of marketable securities | (34,400) | (1,600) | 12,400 |
| Net amortization of premiums and accretion of discounts on available-for-sale securities | 53,600 | 57,300 | 58,300 |
| Impairment losses on available-for-sale securities | 14,400 | ||
| Impairment losses on assets held for sale | 11,700 | ||
| (Loss) gain on sales of buildings | (1,800) | 2,300 | (2,200) |
| Gain on sale of discontinued businesses, net of tax | (500) | (4,400) | |
| Other | 35,100 | 8,900 | 35,800 |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: | |||
| (Increase) in accounts receivable | (138,300) | (108,800) | (152,600) |
| (Increase) decrease in other assets | (81,300) | 30,000 | (85,600) |
| (Decrease) increase in accounts payable | (24,600) | 34,700 | (9,700) |
| Increase (decrease) in accrued expenses and other liabilities | 89,800 | (73,300) | (12,600) |
| Operating activities of discontinued operations | (100) | 2,500 | |
| Net cash flows provided by operating activities | 1,705,800 | 1,682,100 | 1,562,600 |
| Cash Flows From Investing Activities: | |||
| Purchases of corporate and client funds marketable securities | (4,770,900) | (3,846,700) | (2,736,500) |
| Proceeds from the sales and maturities of corporate and client funds marketable securities | 3,305,100 | 3,406,900 | 3,320,400 |
| Net increase in restricted cash and cash equivalents and other restricted assets held to satisfy client funds obligations | (4,837,100) | (1,639,400) | (731,700) |
| Capital expenditures | (181,900) | (102,900) | (157,800) |
| Additions to intangibles | (95,800) | (123,800) | (96,000) |
| Acquisitions of businesses, net of cash acquired | (776,000) | (100,000) | (67,000) |
| Reclassification from cash and cash equivalents to short-term marketable securities | (211,100) | ||
| Proceeds from the sale of property, plant and equipment | 13,100 | 3,100 | 25,700 |
| Other | 2,900 | 1,800 | 10,000 |
| Investing activities of discontinued operations | (100) | ||
| Proceeds from the sale of businesses included in discontinued operations | 21,600 | (100) | |
| Net cash flows used in investing activities | (7,340,600) | (2,379,500) | (644,100) |
| Cash Flows From Financing Activities: | |||
| Net increase in client funds obligations | 6,290,900 | 2,020,400 | 885,200 |
| Proceeds from issuance of debt | 12,500 | ||
| Payments of debt | (5,700) | (2,900) | (21,900) |
| Net purchases of reverse repurchase agreements | (11,800) | ||
| Net (repayment) proceeds of commercial paper borrowing | (730,000) | 730,000 | |
| Repurchases of common stock | (732,800) | (766,400) | (580,400) |
| Proceeds from stock purchase plan and exercises of stock options | 478,200 | 241,100 | 82,700 |
| Excess tax benefit related to exercises of stock options | 1,000 | 200 | 1,500 |
| Dividends paid | (692,400) | (673,400) | (629,400) |
| Net cash flows provided by financing activities | 5,339,200 | 89,000 | 468,400 |
| Effect of exchange rate changes on cash and cash equivalents | 41,700 | (13,600) | (39,100) |
| Net change in cash and cash equivalents | (253,900) | (622,000) | 1,347,800 |
| Cash and cash equivalents of continuing operations, beginning of year | 1,643,300 | 2,265,300 | 917,500 |
| Cash and cash equivalents of discontinued operations, beginning of year | |||
| Cash and cash equivalents, end of year | 1,389,400 | 1,643,300 | 2,265,300 |
| Less cash and cash equivalents of discontinued operations, end of year | |||
| Cash and cash equivalents of continuing operations, end of year | 1,389,400 | 1,643,300 | 2,265,300 |
| [1] Includes $64.8 million, $70.6 million, and $70.3 million for the years ended June 30, 2011, 2010 and 2009, respectively, of depreciation and amortization that does not relate to our services and products. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AUTOMATIC DATA PROCESSING INC | ||
Ticker: ADP Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending June 30, 2011 10-K (Filed: Aug 24, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2011 | June 30, 2010 | |
| Assets | ||
| Cash and cash equivalents | $ 1,389,400 | 1,643,300 |
| Short-term marketable securities | 36,300 | 27,900 |
| Accounts receivable, net | 1,364,800 | 1,127,700 |
| Other current assets | 648,300 | 673,400 |
| Assets held for sale | 9,100 | 11,800 |
| Total current assets before funds held for clients | 3,447,900 | 3,484,100 |
| Funds held for clients | 25,135,600 | 18,832,600 |
| Total current assets | 28,583,500 | 22,316,700 |
| Long-term marketable securities | 98,000 | 104,300 |
| Long-term receivables, net | 128,700 | 129,400 |
| Property, plant and equipment, net | 716,200 | 673,800 |
| Other assets | 922,600 | 712,300 |
| Goodwill | 3,073,600 | 2,383,300 |
| Intangible assets, net | 715,700 | 542,400 |
| Total assets | 34,238,300 | 26,862,200 |
| Liabilities and Stockholders' Equity | ||
| Accounts payable | 153,300 | 150,000 |
| Accrued expenses and other current liabilities | 930,400 | 771,000 |
| Accrued payroll and payroll related expenses | 558,300 | 448,500 |
| Dividends payable | 174,200 | 164,500 |
| Short-term deferred revenues | 350,900 | 321,500 |
| Income taxes payable | 28,600 | 60,000 |
| Total current liabilities before client funds obligations | 2,195,700 | 1,915,500 |
| Client funds obligations | 24,591,100 | 18,136,700 |
| Total current liabilities | 26,786,800 | 20,052,200 |
| Long-term debt | 34,200 | 39,800 |
| Other liabilities | 556,200 | 528,000 |
| Deferred income taxes | 373,500 | 306,400 |
| Long-term deferred revenues | 477,200 | 456,900 |
| Total liabilities | 28,227,900 | 21,383,300 |
| Commitments and contingencies (Note 16) | ||
| Stockholders' equity: | ||
| Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none | ||
| Common stock, $0.10 par value: Authorized, 1,000.0 shares; issued, 638.7 shares at June 30, 2011 and 2010; outstanding, 490.8 and 492.0 shares at June 30, 2011 and 2010, respectively | 63,900 | 63,900 |
| Capital in excess of par value | 489,500 | 493,000 |
| Retained earnings | 11,803,900 | 11,252,000 |
| Treasury stock - at cost: 147.9 and 146.7 shares at June 30, 2011 and 2010, respectively | (6,714,000) | (6,539,500) |
| Accumulated other comprehensive income | 367,100 | 209,500 |
| Total stockholders' equity | 6,010,400 | 5,478,900 |
| Total liabilities and stockholders' equity | 34,238,300 | 26,862,200 |
| External Links | |
| AUTOMATIC DATA PROCESSING INC (ADP) Fiscal Year 2011 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |