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: 2017 | |||
Statements Of Consolidated Earnings | |||
Period Ending June 30, 2017 10-K (Filed: Aug 4, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2017 | June 30, 2016 | June 30, 2015 | |
| REVENUES: | |||
| Revenues, other than interest on funds held for clients and PEO revenues | $ 8,518,100 | 8,234,000 | 7,928,300 |
| Interest on funds held for clients | 397,400 | 377,300 | 377,700 |
| PEO revenues | 3,464,300 | 3,056,500 | 2,632,500 [1] |
| TOTAL REVENUES | 12,379,800 | 11,667,800 | 10,938,500 |
| EXPENSES: | |||
| Operating expenses | 6,416,100 | 6,025,000 | 5,625,300 |
| Systems development and programming costs | 627,500 | 603,700 | 595,400 |
| Depreciation and amortization | 226,200 | 211,600 | 206,900 |
| TOTAL COSTS OF REVENUES | 7,269,800 | 6,840,300 | 6,427,600 |
| Selling, general and administrative expenses | 2,783,200 | 2,637,000 | 2,496,900 |
| Interest expense | 80,000 | 56,200 | 6,500 |
| TOTAL EXPENSES | 10,133,000 | 9,533,500 | 8,931,000 |
| Other income, net | (284,300) | (100,400) | (63,200) |
| EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,531,100 | 2,234,700 | 2,070,700 |
| Income Tax Expense (Benefit) | 797,700 | 741,300 | 694,200 |
| NET EARNINGS FROM CONTINUING OPERATIONS | 1,733,400 | 1,493,400 | 1,376,500 |
| EARNINGS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES | 0 | (1,400) | 171,500 |
| Provision for income taxes | 0 | (500) | 95,500 |
| NET EARNINGS FROM DISCONTINUED OPERATIONS | 0 | (900) | 76,000 |
| NET EARNINGS | 1,733,400 | 1,492,500 | 1,452,500 |
| Basic earnings per share from continuing operations (in dollars per share) | 3.87 | 3.27 | 2.91 |
| Basic earnings per share from discontinued operations | 0.00 | 0.00 | 0.16 |
| BASIC EARNINGS PER SHARE | 3.87 | 3.27 | 3.07 |
| Diluted earnings per share from continuing operations (in dollars per share) | 3.85 | 3.25 | 2.89 |
| Diluted earnings per share from discontinued operations | 0.00 | 0.00 | 0.16 |
| DILUTED EARNINGS PER SHARE | 3.85 | 3.25 | 3.05 |
| Basic weighted average shares outstanding | 447,800 | 457,000 | 472,600 |
| Diluted weighted average shares outstanding | 450,300 | 459,100 | 475,800 |
| [1] For the years ended June 30, 2017 ("fiscal 2017"), June 30, 2016 ("fiscal 2016"), and June 30, 2015 ("fiscal 2015"), Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $34,567.4 million, $30,928.6 million, and $26,674.1 million, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2017 | |||
Statements of Consolidated Comprehensive Income | |||
Period Ending June 30, 2017 10-K (Filed: Aug 4, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2017 | June 30, 2016 | June 30, 2015 | |
| NET EARNINGS | $ 1,733,400 | 1,492,500 | 1,452,500 |
| Other comprensive income: | |||
| Currency translation adjustments | 23,000 | (25,500) | (239,600) |
| Unrealized net gains/(losses) on available-for-sale securities | (405,700) | 288,800 | (103,000) |
| Tax Effect | 141,600 | (102,200) | 38,600 |
| Reclassification of net gains on available-for-sale securities to net earnings | (2,200) | 5,000 | (4,900) |
| Tax effect | 800 | (1,700) | 1,600 |
| Pension net gains/(losses) arising during the period | 109,600 | (199,400) | (87,400) |
| Tax Effect | (43,600) | 72,900 | 32,700 |
| Reclassification of pension liability adjustment to net earnings | 20,600 | 12,000 | 17,900 |
| Tax effect | (8,200) | (4,400) | (6,500) |
| Other Comprehensive (loss)/income, net of tax | (164,100) | 45,500 | (350,600) |
| Comprehensive income | 1,569,300 | 1,538,000 | 1,101,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AUTOMATIC DATA PROCESSING INC | |||
Ticker: ADP Fiscal Year: 2017 | |||
Statements Of Consolidated Cash Flows | |||
Period Ending June 30, 2017 10-K (Filed: Aug 4, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| June 30, 2017 | June 30, 2016 | June 30, 2015 | |
| Cash Flows from Operating Activities: | |||
| NET EARNINGS | $ 1,733,400 | 1,492,500 | 1,452,500 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | |||
| Depreciation and amortization | 316,100 | 288,600 | 277,900 |
| Deferred Income Tax Expense (Benefit), Net of Disposals | 10,000 | 700 | (15,300) |
| Stock-based compensation expense | 138,900 | 137,600 | 143,200 |
| Net pension expense | 24,200 | 17,700 | 17,600 |
| Net amortization of premiums and accretion of discounts on available-for-sale securities | 85,900 | 94,100 | 100,300 |
| Gain on sale of building | 0 | (13,900) | 0 |
| Gain on sale of divested businesses, net of tax | (121,400) | (21,800) | (78,400) |
| Other | 37,100 | 30,700 | 1,800 |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: | |||
| Decrease/(increase) in accounts receivable | 23,400 | (224,600) | (175,100) |
| Increase in other assets | (269,100) | (108,900) | (109,100) |
| (Decrease)/Increase in accounts payable | (11,600) | (15,900) | 13,100 |
| Increase in accrued expenses and other liabilities | 159,000 | 220,500 | 122,100 |
| Proceeds from the sale of notes receivable | 0 | 0 | 226,700 |
| Operating activities of discontinued operations | 0 | 0 | (3,300) |
| Net cash flows provided by operating activities | 2,125,900 | 1,897,300 | 1,974,000 |
| Cash Flows from Investing Activities: | |||
| Purchases of corporate and client funds marketable securities | (4,382,800) | (5,876,300) | (5,047,600) |
| Proceeds from the sales and maturities of corporate and client funds marketable securities | 3,593,600 | 5,215,400 | 3,841,000 |
| Net decrease/(increase) in restricted cash and cash equivalents held to satisfy client funds obligations | 6,843,600 | (8,218,200) | (2,960,600) |
| Capital expenditures | (240,200) | (168,500) | (158,800) |
| Additions to intangibles | (230,400) | (217,500) | (176,700) |
| Acquisitions of businesses, net of cash acquired | (87,400) | 0 | (8,100) |
| Proceeds from the sale of property, plant, and equipment and other assets | 0 | 15,700 | 23,600 |
| Dividend received from CDK Global, Inc. | 0 | 0 | 825,000 |
| Cash retained by CDK Global, Inc. | 0 | 0 | (180,000) |
| Proceeds from the sale of divested businesses | 234,000 | 162,200 | 98,600 |
| Investing activities of discontinued operations | 0 | 0 | (16,700) |
| Net cash flows provided by/(used in) investing activities | 5,730,400 | (9,087,200) | (3,760,300) |
| Cash Flows from Financing Activities: | |||
| Net (decrease)/increase in client funds obligations | (6,120,600) | 8,803,300 | 6,074,400 |
| Proceeds from debt issuance | 0 | 1,998,300 | 0 |
| Payments of debt | (2,000) | (1,500) | (2,300) |
| Repurchases of common stock | (1,259,600) | (1,155,700) | (1,557,200) |
| Proceeds from stock purchase plan and exercises of stock options | 95,700 | 75,300 | 109,100 |
| Dividends paid | (995,200) | (943,600) | (927,600) |
| Net repayments from issuance of commercial paper | 0 | 0 | (2,173,000) |
| Other | 0 | (23,400) | 23,400 |
| Financing activities of discontinued operations | 0 | 0 | 1,500 |
| Net cash flows (used in)/provided by financing activities | (8,281,700) | 8,752,700 | 1,548,300 |
| Effect of exchange rate changes on cash and cash equivalents | 14,700 | (11,000) | (106,300) |
| Net change in cash and cash equivalents | (410,700) | 1,551,800 | (344,300) |
| Cash and cash equivalents, beginning of period | 3,191,100 | 1,639,300 | |
| Cash and cash equivalents, end of period | 2,780,400 | 3,191,100 | 1,639,300 |
| Cash paid for interest | 78,100 | 37,500 | 5,700 |
| Cash paid for income taxes, net of income tax refunds | 817,100 | 651,600 | 773,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AUTOMATIC DATA PROCESSING INC | ||
Ticker: ADP Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending June 30, 2017 10-K (Filed: Aug 4, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| June 30, 2017 | June 30, 2016 | |
| Assets [Abstract] | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,780,400 | 3,191,100 |
| Accounts receivable, net of allowance for doubtful accounts of $49.6 and $38.1, respectively | 1,703,600 | 1,742,800 |
| Other current assets | 883,200 | 725,300 |
| Total current assets before funds held for clients | 5,367,200 | 5,659,200 |
| Funds held for clients | 27,291,500 | 33,841,200 |
| Total current assets | 32,658,700 | 39,500,400 |
| Long-term receivables, net of allowance for doubtful accounts of $0.8 and $0.5, respectively | 28,000 | 27,100 |
| Property, Plant and Equipment, Net | 779,900 | 685,000 |
| Other assets | 1,352,200 | 1,241,300 |
| Goodwill | 1,741,000 | 1,682,000 |
| Intangible assets, net | 620,200 | 534,200 |
| Total assets | 37,180,000 | 43,670,000 |
| Liabilities And Stockholders Equity Abstract | ||
| Liabilities | ||
| Accounts payable | 149,700 | 152,300 |
| Accrued expenses and other current liabilities | 1,381,900 | 1,246,800 |
| Accrued payroll and payroll-related expenses | 562,500 | 616,700 |
| Dividends Payable | 250,500 | 238,400 |
| Short-term deferred revenues | 232,900 | 233,200 |
| Income taxes payable | 49,000 | 28,200 |
| Total current liabilities before client funds obligations | 2,626,500 | 2,515,600 |
| Client funds obligations | 27,189,400 | 33,331,800 |
| Total current liabilities | 29,815,900 | 35,847,400 |
| Long-term Debt, Excluding Current Maturities | 2,002,400 | 2,007,700 |
| Other liabilities | 830,200 | 701,100 |
| Deferred income taxes | 163,100 | 251,100 |
| Long-term deferred revenues | 391,400 | 381,100 |
| Total liabilities | 33,203,000 | 39,188,400 |
| 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, 2017 and 2016, outstanding, 445.0 and 455.7 shares at June 30, 2017 and 2016, respectively | 63,900 | 63,900 |
| Capital in excess of par value | 867,800 | 768,100 |
| Retained earnings | 14,728,200 | 14,003,300 |
| Treasury stock - at cost: 193.7 and 183.0 shares at June 30, 2017 and June 30, 2016, respectively | (11,303,700) | (10,138,600) |
| Accumulated other comprehensive income | (379,200) | (215,100) |
| Total stockholders' equity | 3,977,000 | 4,481,600 |
| Total liabilities and stockholders' equity | 37,180,000 | 43,670,000 |
| External Links | |
| AUTOMATIC DATA PROCESSING INC (ADP) Fiscal Year 2017 | |
| 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 |