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 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. | |||
| 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 |