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: 2016 | |||
Statements Of Consolidated Earnings | |||
Period Ending June 30, 2016 10-K (Filed: Aug 5, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2016 | June 30, 2015 | June 30, 2014 | |
| REVENUES: | |||
| Revenues, other than interest on funds held for clients and PEO revenues | $ 8,234,000 | 7,928,300 | 7,595,400 |
| Interest on funds held for clients | 377,300 | 377,700 | 373,400 |
| PEO revenues | 3,056,500 | 2,632,500 | 2,257,600 [1] |
| TOTAL REVENUES | 11,667,800 | 10,938,500 | 10,226,400 |
| EXPENSES: | |||
| Operating expenses | 6,025,000 | 5,625,300 | 5,290,800 |
| Systems development and programming costs | 603,700 | 595,400 | 551,200 |
| Depreciation and amortization | 211,600 | 206,900 | 199,000 |
| TOTAL COSTS OF REVENUES | 6,840,300 | 6,427,600 | 6,041,000 |
| Selling, general and administrative expenses | 2,637,000 | 2,496,900 | 2,370,300 |
| Interest expense | 56,200 | 6,500 | 6,100 |
| TOTAL EXPENSES | 9,533,500 | 8,931,000 | 8,417,400 |
| Other income, net | (100,400) | (63,200) | (70,200) |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,234,700 | 2,070,700 | 1,879,200 |
| Provision for income taxes | 741,300 | 694,200 | 636,600 |
| NET EARNINGS FROM CONTINUING OPERATIONS | 1,493,400 | 1,376,500 | 1,242,600 |
| EARNINGS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES | (1,400) | 171,500 | 414,900 |
| Provision for income taxes | (500) | 95,500 | 141,600 |
| NET EARNINGS FROM DISCONTINUED OPERATIONS | (900) | 76,000 | 273,300 |
| NET EARNINGS | 1,492,500 | 1,452,500 | 1,515,900 |
| Basic Earnings Per Share from Continuing Operations | 3.27 | 2.91 | 2.59 |
| Basic earnings per share from discontinued operations | 0.00 | 0.16 | 0.57 |
| BASIC EARNINGS PER SHARE | 3.27 | 3.07 | 3.17 |
| Diluted earnings per share from continuing operations | 3.25 | 2.89 | 2.57 |
| Diluted earnings per share from discontinued operations | 0.00 | 0.16 | 0.57 |
| DILUTED EARNINGS PER SHARE | 3.25 | 3.05 | 3.14 |
| Basic weighted average shares outstanding | 457,000 | 472,600 | 478,900 |
| Diluted weighted average shares outstanding | 459,100 | 475,800 | 483,100 |
| [1] For the years ended June 30, 2016 ("fiscal 2016"), June 30, 2015 ("fiscal 2015"), and June 30, 2014 ("fiscal 2014") Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $30,928.6 million, $26,674.1 million, and $23,192.2 million, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2016 | |||
Statements of Consolidated Comprehensive Income | |||
Period Ending June 30, 2016 10-K (Filed: Aug 5, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2016 | June 30, 2015 | June 30, 2014 | |
| NET EARNINGS | $ 1,492,500 | 1,452,500 | 1,515,900 |
| Other comprensive income: | |||
| Currency translation adjustments | (25,500) | (239,600) | 59,900 |
| Unrealized net gains/(losses) on available-for-sale securities | 288,800 | (103,000) | 53,500 |
| Tax Effect | (102,200) | 38,600 | (18,200) |
| Reclassification of net gains on available-for-sale securities to net earnings | 5,000 | (4,900) | (16,500) |
| Tax effect | (1,700) | 1,600 | 6,100 |
| Pension net gains/(losses) arising during the period | (199,400) | (87,400) | 102,800 |
| Tax Effect | 72,900 | 32,700 | (39,700) |
| Reclassification of pension liability adjustment to net earnings | 12,000 | 17,900 | 20,700 |
| Tax effect | (4,400) | (6,500) | (5,800) |
| Other Comprehensive (loss)/income, net of tax | 45,500 | (350,600) | 162,800 |
| Comprehensive income | 1,538,000 | 1,101,900 | 1,678,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2016 | |||
Statements Of Consolidated Cash Flows | |||
Period Ending June 30, 2016 10-K (Filed: Aug 5, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2016 | June 30, 2015 | June 30, 2014 | |
| Cash Flows from Operating Activities: | |||
| NET EARNINGS | $ 1,492,500 | 1,452,500 | 1,515,900 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | |||
| Depreciation and amortization | 288,600 | 277,900 | 266,600 |
| Deferred income taxes | 700 | (15,300) | (37,900) |
| Stock-based compensation expense | 137,600 | 143,200 | 117,100 |
| Excess tax benefit related to exercise of stock options and restricted stock | (37,400) | (68,400) | (49,900) |
| Net pension expense | 17,700 | 17,600 | 24,300 |
| Net realized loss / (gain) from the sales of marketable securities | 5,000 | (4,900) | (16,500) |
| Net amortization of premiums and accretion of discounts on available-for-sale securities | 94,100 | 100,300 | 94,400 |
| Gain on sale of building | (13,900) | 0 | 0 |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, net of Tax | 21,800 | 78,400 | 10,500 |
| Other | 25,700 | 6,700 | 17,000 |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: | |||
| Increase in accounts receivable | (224,600) | (175,100) | (170,700) |
| Increase in other assets | (108,900) | (109,100) | (246,200) |
| (Decrease) / increase in accounts payable | (15,900) | 13,100 | 9,600 |
| Increase in accrued expenses and other liabilities | 220,500 | 122,100 | 263,800 |
| Proceeds from the sale of notes receivable | 0 | 226,700 | 0 |
| Operating activities of discontinued operations | 0 | (3,300) | 44,400 |
| Net cash flows provided by operating activities | 1,859,900 | 1,905,600 | 1,821,400 |
| Cash Flows from Investing Activities: | |||
| Purchases of corporate and client funds marketable securities | (5,876,300) | (5,047,600) | (3,414,900) |
| Proceeds from the sales and maturities of corporate and client funds marketable securities | 5,215,400 | 3,841,000 | 2,059,500 |
| Net (increase) / decrease in restricted cash and cash equivalents held to satisfy client funds obligations | (8,218,200) | (2,960,600) | 2,537,800 |
| Capital expenditures | (168,500) | (158,800) | (159,800) |
| Additions to intangibles | (217,500) | (176,700) | (143,600) |
| Acquisitions of businesses, net of cash acquired | 0 | (8,100) | 0 |
| Proceeds from the sale of property, plant, and equipment and other assets | 15,700 | 23,600 | 400 |
| Dividend received from CDK Global, Inc. | 0 | 825,000 | 0 |
| Cash retained by CDK Global, Inc. | 0 | (180,000) | 0 |
| Proceeds from the sale of divested businesses | 162,200 | 98,600 | 24,400 |
| Investing activities of discontinued operations | 0 | (16,700) | (90,500) |
| Net cash flows (used in) / provided by investing activities | (9,087,200) | (3,760,300) | 813,300 |
| Cash Flows from Financing Activities: | |||
| Net increase / (decrease) in client funds obligations | 8,803,300 | 6,074,400 | (2,989,500) |
| Proceeds from debt issuance | 1,998,300 | 0 | 0 |
| Payments of debt | (1,500) | (2,300) | (3,300) |
| Repurchases of common stock | (1,155,700) | (1,557,200) | (667,300) |
| Proceeds from stock purchase plan and exercises of stock options | 75,300 | 109,100 | 194,200 |
| Excess tax benefit related to exercise of stock options and restricted stock | 37,400 | 68,400 | 49,900 |
| Dividends paid | (943,600) | (927,600) | (883,100) |
| Net repayments from reverse repurchase agreements | 0 | 0 | (245,900) |
| Net (repayments) / proceeds from issuance of commercial paper | 0 | (2,173,000) | 2,173,000 |
| Other | (23,400) | 23,400 | (1,100) |
| Financing activities of discontinued operations | 0 | 1,500 | 14,900 |
| Net cash flows provided by / (used in) financing activities | 8,790,100 | 1,616,700 | (2,358,200) |
| Effect of exchange rate changes on cash and cash equivalents | (11,000) | (106,300) | 8,000 |
| Net change in cash and cash equivalents | 1,551,800 | (344,300) | 284,500 |
| Cash and cash equivalents, beginning of period | 1,639,300 | 1,983,600 | |
| Cash and cash equivalents, end of period | 3,191,100 | 1,639,300 | 1,983,600 |
| Less cash and cash equivalents of discontinued operations, end of period | 0 | 0 | 399,600 |
| Cash and cash equivalents of continuing operations, end of period | 3,191,100 [1] | 1,639,300 | 1,584,000 |
| Interest Paid | 37,500 | 5,700 | 5,500 |
| Income Taxes Paid, Net | 651,600 | 773,300 | 821,500 |
| [1] {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjAwMWI0MjZiOGFhMTQxZjM5MGJiMWZhNDg3NGUxNzgxfFRleHRTZWxlY3Rpb246QUMzQkRFOTMxQTRDNUYxNUFBOEE2MzM2RkNCREY2RTcM} | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AUTOMATIC DATA PROCESSING INC | ||
Ticker: ADP Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending June 30, 2016 10-K (Filed: Aug 5, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2016 | June 30, 2015 | |
| Assets [Abstract] | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,191,100 [1] | 1,639,300 |
| Short-term marketable securities | 23,500 | 26,600 |
| Accounts receivable, net of allowance for doubtful accounts of $38.1 and $35.5, respectively | 1,742,800 | 1,546,900 |
| Other current assets | 701,800 | 731,100 |
| Total current assets before funds held for clients | 5,659,200 | 3,943,900 |
| Funds held for clients | 33,841,200 | 24,865,300 |
| Total current assets | 39,500,400 | 28,809,200 |
| Long-term marketable securities | 7,800 | 28,900 |
| Long-term receivables, net of allowance for doubtful accounts of $0.5 and $0.6, respectively | 27,100 | 32,200 |
| Property, Plant and Equipment, Net | 685,000 | 672,700 |
| Other assets | 1,233,500 | 1,270,800 |
| Goodwill | 1,682,000 | 1,793,500 |
| Intangible assets, net | 534,200 | 503,200 |
| Total assets | 43,670,000 | 33,110,500 |
| Liabilities And Stockholders Equity Abstract | ||
| Liabilities | ||
| Accounts payable | 152,300 | 194,500 |
| Accrued expenses and other current liabilities | 1,246,800 | 1,159,200 |
| Accrued payroll and payroll-related expenses | 616,700 | 627,300 |
| Dividends payable | 238,400 | 226,400 |
| Short-term deferred revenues | 233,200 | 228,600 |
| Income taxes payable | 28,200 | 27,200 |
| Total current liabilities before client funds obligations | 2,515,600 | 2,463,200 |
| Client funds obligations | 33,331,800 | 24,650,500 |
| Total current liabilities | 35,847,400 | 27,113,700 |
| Long-term debt | 2,007,700 | 9,200 |
| Other liabilities | 701,100 | 644,300 |
| Deferred income taxes | 251,100 | 172,100 |
| Long-term deferred revenues | 381,100 | 362,700 |
| Total liabilities | 39,188,400 | 28,302,000 |
| 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, 2016 and 2015, outstanding, 455.7 and 466.4 shares at June 30, 2016 and 2015, respectively | 63,900 | 63,900 |
| Capital in excess of par value | 768,100 | 663,300 |
| Retained earnings | 14,003,300 | 13,460,300 |
| Treasury stock - at cost: 183.0 and 172.3 shares at June 30, 2016 and June 30, 2015, respectively | (10,138,600) | (9,118,400) |
| Accumulated other comprehensive income | (215,100) | (260,600) |
| Total stockholders' equity | 4,481,600 | 4,808,500 |
| Total liabilities and stockholders' equity | 43,670,000 | 33,110,500 |
| [1] {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjAwMWI0MjZiOGFhMTQxZjM5MGJiMWZhNDg3NGUxNzgxfFRleHRTZWxlY3Rpb246QUMzQkRFOTMxQTRDNUYxNUFBOEE2MzM2RkNCREY2RTcM} | ||
| External Links | |
| AUTOMATIC DATA PROCESSING INC (ADP) Fiscal Year 2016 | |
| 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 |