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: 2013 | |||
Statements Of Consolidated Earnings | |||
Period Ending June 30, 2013 10-K (Filed: Aug 19, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2013 | June 30, 2012 | June 30, 2011 | |
| REVENUES: | |||
| Revenues, other than interest on funds held for clients and PEO revenues | $ 8,928,500 | 8,362,500 | 7,759,000 |
| Interest on funds held for clients | 420,900 | 493,300 | 540,100 |
| PEO revenues | 1,960,700 | 1,760,200 [1] | 1,533,900 |
| TOTAL REVENUES | 11,310,100 | 10,616,000 | 9,833,000 |
| EXPENSES: | |||
| Operating expenses | 5,742,400 | 5,365,200 | 4,888,600 |
| Systems development and programming costs | 654,300 | 592,700 | 570,000 |
| Depreciation and amortization | 252,900 | 256,400 | 249,800 |
| TOTAL COSTS OF REVENUES | 6,649,600 | 6,214,300 | 5,708,400 |
| Selling, general and administrative expenses | 2,620,600 | 2,456,900 | 2,314,600 |
| Goodwill impairment | 42,700 | 0 | 0 |
| Interest expense | 9,100 | 7,700 | 8,600 |
| TOTAL EXPENSES | 9,322,000 | 8,678,900 | 8,031,600 |
| Other income, net | (96,200) | (170,800) | (116,600) |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,084,300 | 2,107,900 | 1,918,000 |
| Provision for income taxes | 720,200 | 728,200 | 673,000 |
| NET EARNINGS FROM CONTINUING OPERATIONS | 1,364,100 | 1,379,700 | 1,245,000 |
| EARNINGS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES | 66,800 | 14,200 | 14,700 |
| Provision for Income Taxes | 25,100 | 5,400 | 5,500 |
| NET EARNINGS FROM DISCONTINUED OPERATIONS | 41,700 | 8,800 | 9,200 |
| NET EARNINGS | 1,405,800 | 1,388,500 | 1,254,200 |
| Basic Earnings Per Share from Continuing Operations | 2.83 | 2.83 | 2.52 |
| Basic Earnings Per Share from Discontinued Operations | 0.09 | 0.02 | 0.02 |
| BASIC EARNINGS PER SHARE | 2.91 | 2.85 | 2.54 |
| Diluted Earnings Per Share from Continuing Operations | 2.80 | 2.80 | 2.50 |
| Diluted Earnings Per Share from Discontinued Operations | 0.09 | 0.02 | 0.02 |
| DILUTED EARNINGS PER SHARE | 2.89 | 2.82 | 2.52 |
| Basic weighted average shares outstanding | 482,700 | 487,300 | 493,500 |
| Diluted weighted average shares outstanding | 487,100 | 492,200 | 498,300 |
| [1] Professional Employer Organization (PEO) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $19,956.2, $17,792.2, and $15,765.3, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2013 | |||
Statements of Consolidated Comprehensive Income | |||
Period Ending June 30, 2013 10-K (Filed: Aug 19, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2013 | June 30, 2012 | June 30, 2011 | |
| NET EARNINGS | $ 1,405,800 | 1,388,500 | 1,254,200 |
| Other comprensive income: | |||
| Currency translation adjustments | (2,400) | (141,100) | 166,700 |
| Unrealized net (losses)/gains on available-for-sale securities | (394,600) | 158,100 | (104,600) |
| Tax Effect | 138,500 | (54,400) | 38,800 |
| Reclassification of net (gains) on available-for-sale securities to net earnings | (28,600) | (18,600) | (35,300) |
| Tax effect | 10,100 | 6,400 | 13,100 |
| Pension net gains/(losses) arisign during the period | 68,200 | (149,700) | 108,600 |
| Tax Effect | (25,700) | 52,300 | (42,400) |
| Reclassification of pension liability adjustment to net earnings | 31,700 | 15,500 | 20,800 |
| Tax effect | (12,000) | (5,400) | (8,100) |
| Other Comprehensive (loss)/income, net of tax | (214,800) | (136,900) | 157,600 |
| Comprehensive income | 1,191,000 | 1,251,600 | 1,411,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2013 | |||
Statements Of Consolidated Cash Flows | |||
Period Ending June 30, 2013 10-K (Filed: Aug 19, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2013 | June 30, 2012 | June 30, 2011 | |
| NET EARNINGS | $ 1,405,800 | 1,388,500 | 1,254,200 |
| Cash Flows from Operating Activities: | |||
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | |||
| Depreciation and amortization | 317,000 | 319,700 | 314,600 |
| Deferred income taxes | 24,600 | 35,900 | 105,300 |
| Stock-based compensation expense | 96,400 | 94,100 | 90,300 |
| Net pension expense | 43,700 | 36,700 | 40,500 |
| Net realized gain from the sales of marketable securities | (28,600) | (24,400) | (34,400) |
| Net amortization of premiums and accretion of discounts on available-for-sale securities | 79,300 | 60,000 | 53,600 |
| Impairment Losses on Available-for-sale Securities | 0 | 5,800 | 0 |
| Impairment losses on assets held for sale | 0 | 2,200 | 11,700 |
| Goodwill impairment | 42,700 | 0 | 0 |
| Gain on sale of assets | 0 | (66,000) | 0 |
| Gain on sale of buildings | (2,200) | 0 | (1,800) |
| Gain on sale of discontinued businesses, net of tax | (36,700) | 0 | 0 |
| Other | 9,000 | 15,100 | 33,600 |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: | |||
| (Increase)/decrease in accounts receivable | (217,000) | (38,500) | (137,300) |
| Increase in other assets | (283,500) | (71,700) | (82,100) |
| Decrease in accounts payable | (10,600) | 11,000 | (24,600) |
| Decrease/(increase) in accrued expenses and other liabilities | 135,900 | 135,000 | 77,400 |
| Operating activities of discontinued operations | 1,400 | 6,800 | 4,800 |
| Net cash flows provided by operating activities | 1,577,200 | 1,910,200 | 1,705,800 |
| Cash Flows from Investing Activities: | |||
| Purchases of corporate and client funds marketable securities | (4,902,600) | (5,113,500) | (4,770,900) |
| Proceeds from the sales and maturities of corporate and client funds marketable securities | 3,638,600 | 3,962,200 | 3,305,100 |
| Net (increase)/decrease in restricted cash and cash equivalents held to satisfy client funds obligations | (161,000) | 4,855,000 | (4,837,100) |
| Capital expenditures | (174,600) | (140,100) | (181,900) |
| Additions to intangibles | (108,300) | (109,500) | (95,800) |
| Acquisitions of businesses, net of cash acquired | (42,000) | (265,700) | (776,000) |
| Proceeds from the sale of property, plant, and equipment and other assets | 10,000 | 71,600 | 13,100 |
| Investing activities of discontinued operations | (600) | 0 | 0 |
| Proceeds from Divestiture of Businesses | 161,400 | 0 | 0 |
| Other | 700 | (16,400) | 2,900 |
| Net cash flows (used in) provided by investing activities | (1,578,400) | 3,243,600 | (7,340,600) |
| Cash Flows from Financing Activities: | |||
| Net increase (decrease) in client funds obligations | 1,138,500 | (3,726,600) | 6,290,900 |
| Payments of debt | (17,500) | (2,000) | (5,700) |
| Repurchases of common stock | (647,300) | (741,300) | (732,800) |
| Proceeds from stock purchase plan and exercises of stock options | 235,300 | 250,000 | 478,200 |
| Dividends paid | (805,500) | (739,700) | (692,400) |
| Net proceeds from reverse repurchase agreements | 245,900 | 0 | 0 |
| Proceeds from (Payments for) Other Financing Activities | 1,600 | 5,700 | 1,000 |
| Net cash flows provided by (used in) financing activities | 151,000 | (4,953,900) | 5,339,200 |
| Effect of exchange rate changes on cash and cash equivalents | 1,200 | (41,200) | 41,700 |
| Net change in cash and cash equivalents | 151,000 | 158,700 | (253,900) |
| Cash and cash equivalents of continuing operations, beginning of period | 1,548,100 | 1,389,400 | |
| Cash and cash equivalents of continuing operations, end of period | 1,699,100 [1] | 1,548,100 | 1,389,400 |
| [1] As of June 30, 2013, $245.2 million of long-term marketable securities and $0.7 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 9). | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AUTOMATIC DATA PROCESSING INC | ||
Ticker: ADP Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending June 30, 2013 10-K (Filed: Aug 19, 2013) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2013 | June 30, 2012 | |
| Assets [Abstract] | ||
| Assets | ||
| Cash and cash equivalents | $ 1,699,100 [1] | 1,548,100 |
| Short-term marketable securities | 28,000 | 30,400 |
| Accounts receivable, net | 1,598,300 | 1,391,700 |
| Other current assets | 646,800 | 631,600 |
| Assets held for sale | 0 | 6,700 |
| Assets of discontinued operations | 0 | 125,000 |
| Total current assets before funds held for clients | 3,972,200 | 3,733,500 |
| Funds held for clients | 22,228,800 | 21,539,100 |
| Total current assets | 26,201,000 | 25,272,600 |
| Long-term marketable securities | 314,000 | 86,900 |
| Long-term receivables, net | 138,700 | 129,800 |
| Property, Plant and Equipment, Net | 728,700 | 706,300 |
| Other assets | 1,189,900 | 871,500 |
| Goodwill | 3,052,600 | 3,062,000 |
| Intangible assets, net | 643,200 | 688,300 |
| Total assets | 32,268,100 | 30,817,400 |
| Liabilities And Stockholders Equity Abstract | ||
| Liabilities | ||
| Accounts payable | 157,300 | 167,400 |
| Accrued expenses and other current liabilities | 1,178,600 | 1,062,500 |
| Accrued payroll and payroll-related expenses | 632,100 | 597,000 |
| Dividends payable | 206,700 | 188,400 |
| Short-term deferred revenues | 316,400 | 312,900 |
| Obligations under reverse repurchase agreements | 245,900 | 0 |
| Income taxes payable | 39,500 | 39,300 |
| Liabilities of discontinued operations | 0 | 29,000 |
| Total current liabilities before client funds obligations | 2,776,500 | 2,396,500 |
| Client funds obligations | 21,956,300 | 20,856,200 |
| Total current liabilities | 24,732,800 | 23,252,700 |
| Long-term debt | 14,700 | 16,800 |
| Other liabilities | 603,100 | 585,900 |
| Deferred income taxes | 234,400 | 381,500 |
| Long-term deferred revenues | 493,200 | 466,500 |
| Total liabilities | 26,078,200 | 24,703,400 |
| Stockholders' equity: | ||
| Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none | 0 | 0 |
| Common stock, $0.10 par value: Authorized, 1,000.0 shares; issued 638.7 shares at June 30, 2013 and 2012; outstanding, 482.6 and 484.2 shares at June 30, 2013 and 2012, respectively | 63,900 | 63,900 |
| Capital in excess of par value | 456,900 | 486,400 |
| Retained earnings | 13,020,300 | 12,438,300 |
| Treasury stock - at cost: 156.1 and 154.5 shares at June 30, 2013 and 2012, respectively | (7,366,600) | (7,104,800) |
| Accumulated other comprehensive income | 15,400 | 230,200 |
| Total stockholders' equity | 6,189,900 | 6,114,000 |
| Total liabilities and stockholders' equity | 32,268,100 | 30,817,400 |
| [1] As of June 30, 2013, $245.2 million of long-term marketable securities and $0.7 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 9). | ||
| External Links | |
| AUTOMATIC DATA PROCESSING INC (ADP) Fiscal Year 2013 | |
| 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 |