Company: ADP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000008670-25-000015
Chunk: 66

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 66
---
 to view performance in a manner similar to the method used by management and improves their ability to understand and assess our operating performance.  The nature of these exclusions is for specific items that are not fundamental to our underlying business operations.  Since these adjusted financial measures and other non-GAAP metrics are not measures of performance calculated in accordance with U.S. GAAP, they should not be considered in isolation from, as a substitute for, or superior to their corresponding U.S. GAAP measures, and they may not be comparable to similarly titled measures at other companies.

33

Three Months Ended% ChangeNine Months Ended% ChangeMarch 31,March 31,20252024As Reported20252024As ReportedNet earnings  $1,249.5 $1,184.9 5 %$3,169.0 $2,922.7 8 %Adjustments:Provision for income taxes372.4 361.4 950.4 860.3 All other interest expense (a)29.3 17.8 79.5 53.5 All other interest income (a)(21.6)(26.9)(64.4)(62.3)Transformation initiatives0.1 1.5 0.1 4.9 Legal settlements (b)— — (0.4)— Adjusted EBIT$1,629.7 $1,538.7 6 %$4,134.2 $3,779.1 9 %Adjusted EBIT Margin29.3 %29.3 %26.8 %26.2 %Provision for income taxes$372.4 $361.4 3 %$950.4 $860.3 10 %Adjustments:Transformation initiatives (c)— 0.4 — 1.2 Legal settlements (c)— — (0.1)— Adjusted provision for income taxes$372.4 $361.8 3 %$950.3 $861.5 10 %Adjusted effective tax rate (d)23.0 %23.4 %23.1 %22.7 %Net earnings  $1,249.5 $1,184.9 5 %$3,169.0 $2,922.7 8 %Adjustments:Transformation initiatives0.1 1