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: 2012 | |||
Statements Of Consolidated Earnings | |||
Period Ending June 30, 2012 10-K (Filed: Aug 20, 2012) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2012 | June 30, 2011 | June 30, 2010 | |
| REVENUES: | |||
| Revenues, other than interest on funds held for clients and PEO revenues | $ 8,411,700 | 7,805,500 | 7,077,700 |
| Interest on funds held for clients | 493,300 | 540,100 | 542,800 |
| PEO revenues | 1,760,200 | 1,533,900 | 1,307,200 [1] |
| TOTAL REVENUES | 10,665,200 | 9,879,500 | 8,927,700 |
| EXPENSES: | |||
| Operating expenses | 5,380,100 | 4,900,900 | 4,277,200 |
| Systems development and programming costs | 599,900 | 577,200 | 513,900 |
| Depreciation and amortization | 260,000 | 253,400 | 238,600 |
| TOTAL COSTS OF REVENUES | 6,240,000 | 5,731,500 | 5,029,700 |
| Selling, general and administrative expenses | 2,466,200 | 2,323,300 | 2,127,400 |
| Interest expense | 7,700 | 8,600 | 8,600 |
| TOTAL EXPENSES | 8,713,900 | 8,063,400 | 7,165,700 |
| Other income, net | (170,800) | (116,600) | (101,200) |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,122,100 | 1,932,700 | 1,863,200 |
| Provision for income taxes | 733,600 | 678,500 | 655,900 |
| NET EARNINGS FROM CONTINUING OPERATIONS | 1,388,500 | 1,254,200 | 1,207,300 |
| Earnings from discontinued operations, net of provision for income taxes of $7.0 for the fiscal year ended June 30, 2010 | 4,100 | ||
| NET EARNINGS | 1,388,500 | 1,254,200 | 1,211,400 |
| Basic earnings per share from continuing operations | 2.85 | 2.54 | 2.41 |
| Basic earnings per share from discontinued operations | 0.01 | ||
| BASIC EARNINGS PER SHARE | 2.85 | 2.54 | 2.42 |
| Diluted earnings per share from continuing operations | 2.82 | 2.52 | 2.40 |
| Diluted earnings per share from discontinued operations | 0.01 | ||
| DILUTED EARNINGS PER SHARE | 2.82 | 2.52 | 2.40 |
| Basic weighted average shares outstanding | 487,300 | 493,500 | 500,500 |
| Diluted weighted average shares outstanding | 492,200 | 498,300 | 503,700 |
| [1] Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $17,792.2, $15,765.3, and $13,318.7, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2012 | |||
Statements Of Consolidated Cash Flows | |||
Period Ending June 30, 2012 10-K (Filed: Aug 20, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2012 | June 30, 2011 | June 30, 2010 | |
| Cash Flows from Operating Activities: | |||
| Net earnings | $ 1,388,500 | 1,254,200 | 1,211,400 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | |||
| Depreciation and amortization | 323,300 | 318,200 | 309,200 [1] |
| Deferred income taxes | 38,100 | 107,600 | 96,100 |
| Stock-based compensation expense | 78,700 | 76,300 | 67,600 |
| Excess tax benefit related to exercises of stock options | (5,700) | (1,000) | (200) |
| Net pension expense | 36,700 | 40,700 | 34,700 |
| Net realized gain from the sales of marketable securities | (24,400) | (34,400) | (1,600) |
| Net amortization of premiums and accretion of discounts on available-for-sale securities | 60,000 | 53,600 | 57,300 |
| Impairment losses on available-for-sale securities | 5,800 | 14,400 | |
| Impairment losses on assets held for sale | 2,200 | 11,700 | |
| Gain on sale of assets | (66,000) | ||
| (Gain) loss on sales of buildings | (1,800) | 2,300 | |
| Gain on sale of discontinued businesses, net of tax | (500) | ||
| Other | 21,400 | 35,100 | 8,800 |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: | |||
| Increase in accounts receivable | (40,100) | (138,300) | (108,800) |
| (Increase) decrease in other assets | (71,600) | (81,300) | 30,000 |
| Increase (decrease) in accounts payable | 11,200 | (24,600) | 34,700 |
| Increase (decrease) in accrued expenses and other liabilities | 152,100 | 89,800 | (73,300) |
| Net cash flows provided by operating activities | 1,910,200 | 1,705,800 | 1,682,100 |
| Cash Flows From Investing Activities: | |||
| Purchases of corporate and client funds marketable securities | (5,113,500) | (4,770,900) | (3,846,700) |
| Proceeds from the sales and maturities of corporate and client funds marketable securities | 3,962,200 | 3,305,100 | 3,406,900 |
| Net decrease (increase) in restricted cash and cash equivalents held to satisfy client funds obligations | 4,855,000 | (4,837,100) | (1,639,400) |
| Capital expenditures | (140,100) | (181,900) | (102,900) |
| Additions to intangibles | (109,500) | (95,800) | (123,800) |
| Acquisitions of businesses, net of cash acquired | (265,700) | (776,000) | (100,000) |
| Proceeds from the sale of property, plant and equipment and other assets | 71,600 | 13,100 | 3,100 |
| Other | (16,400) | 2,900 | 1,700 |
| Proceeds from the sale of businesses included in discontinued operations | 21,600 | ||
| Net cash flows provided by (used in) investing activities | 3,243,600 | (7,340,600) | (2,379,500) |
| Cash Flows From Financing Activities: | |||
| Net (decrease) increase in client funds obligations | (3,726,600) | 6,290,900 | 2,020,400 |
| Payments of debt | (2,000) | (5,700) | (2,900) |
| Net repayment of commercial paper borrowing | (730,000) | ||
| Repurchases of common stock | (741,300) | (732,800) | (766,400) |
| Proceeds from stock purchase plan and exercises of stock options | 250,000 | 478,200 | 241,100 |
| Excess tax benefit related to exercises of stock options | 5,700 | 1,000 | 200 |
| Dividends paid | (739,700) | (692,400) | (673,400) |
| Net cash flows (used in) provided by financing activities | (4,953,900) | 5,339,200 | 89,000 |
| Effect of exchange rate changes on cash and cash equivalents | (41,200) | 41,700 | (13,600) |
| Net change in cash and cash equivalents | 158,700 | (253,900) | (622,000) |
| Cash and cash equivalents of continuing operations, beginning of year | 1,389,400 | 1,643,300 | |
| Cash and cash equivalents of discontinued operations, beginning of year | |||
| Cash and cash equivalents, end of year | 1,548,100 | 1,389,400 | 1,643,300 |
| Less cash and cash equivalents of discontinued operations, end of year | |||
| Cash and cash equivalents of continuing operations, end of year | 1,548,100 | 1,389,400 | 1,643,300 |
| [1] Includes $63.3 million, $64.8 million, and $70.6 million for the years ended June 30, 2012, 2011 and 2010, 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: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending June 30, 2012 10-K (Filed: Aug 20, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2012 | June 30, 2011 | |
| Assets [Abstract] | ||
| Current assets | ||
| Cash and cash equivalents | $ 1,548,100 | 1,389,400 |
| Short-term marketable securities | 30,400 | 36,300 |
| Accounts receivable, net | 1,399,300 | 1,364,800 |
| Other current assets | 632,000 | 648,300 |
| Assets held for sale | 6,700 | 9,100 |
| Total current assets before funds held for clients | 3,616,500 | 3,447,900 |
| Funds held for clients | 21,539,100 | 25,135,600 |
| Total current assets | 25,155,600 | 28,583,500 |
| Long-term marketable securities | 86,900 | 98,000 |
| Long-term receivables, net | 129,800 | 128,700 |
| Property, plant and equipment, net | 706,300 | 716,200 |
| Other assets | 870,400 | 922,600 |
| Goodwill | 3,155,300 | 3,073,600 |
| Intangible assets, net | 711,200 | 715,700 |
| Total assets | 30,815,500 | 34,238,300 |
| Liabilities And Stockholders Equity Abstract | ||
| Current liabilities | ||
| Accounts payable | 167,700 | 153,300 |
| Accrued expenses and other current liabilities | 1,054,400 | 930,400 |
| Accrued payroll and payroll related expenses | 599,300 | 558,300 |
| Dividends payable | 188,400 | 174,200 |
| Short-term deferred revenues | 334,100 | 350,900 |
| Income taxes payable | 39,300 | 28,600 |
| Total current liabilities before client funds obligations | 2,383,200 | 2,195,700 |
| Client funds obligations | 20,856,200 | 24,591,100 |
| Total current liabilities | 23,239,400 | 26,786,800 |
| Long-term debt | 16,800 | 34,200 |
| Other liabilities | 585,900 | 556,200 |
| Deferred income taxes | 391,300 | 373,500 |
| Long-term deferred revenues | 468,100 | 477,200 |
| Total liabilities | 24,701,500 | 28,227,900 |
| Commitments and contingencies (Note 15) | ||
| 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, 2012 and 2011; outstanding, 484.2 and 490.8 shares at June 30, 2012 and 2011, respectively | 63,900 | 63,900 |
| Capital in excess of par value | 486,400 | 489,500 |
| Retained earnings | 12,438,300 | 11,803,900 |
| Treasury stock - at cost: 154.5 and 147.9 shares at June 30, 2012 and 2011, respectively | (7,104,800) | (6,714,000) |
| Accumulated other comprehensive income | 230,200 | 367,100 |
| Total stockholders' equity | 6,114,000 | 6,010,400 |
| Total liabilities and stockholders' equity | 30,815,500 | 34,238,300 |
| External Links | |
| AUTOMATIC DATA PROCESSING INC (ADP) Fiscal Year 2012 | |
| 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 |