Company: PAYX
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0000950170-25-045216
Chunk: 60

Company: PAYCHEX INC
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 the timing of when cash is collected from the clients and when it is remitted to employees of the clients utilizing employee payment services or applicable tax or regulatory agencies for payroll tax administration services. Collections from clients are typically remitted from one to 30 days after receipt, with some items extending to 90 days. Fluctuations in client fund obligations impact financing activities. 

29 

Summarized operating, investing, and financing cash flow information for the nine months and the prior period:

    For the nine months ended

    February 28,

    February 29,

    In millions
     
    2025

    2024

    Change

    Net cash provided by operating activities
     
    $
     
    1,557.1

    $
     
    1,676.0

    $
     
    (118.9
    )

    Net cash used in investing activities

    (281.7
    )

    (117.8
    )

    (163.9
    )

    Net cash (used in)/provided by financing activities

    (779.1
    )

    839.8

    (1,618.9
    )

    Net change in cash, restricted cash, and equivalents
     
    $
     
    496.3

    $
     
    2,398.0

    $
     
    (1,901.7
    )

    Cash dividends per common share
     
    $
     
    2.94

    $
     
    2.67

The changes in our cash flow for the nine months compared to the prior year period were primarily the result of the following key drivers:

Operating Cash Flow Activities

Fiscal 2025

•Net income attributable to the reasons discussed in the “Results of Operations” section of this Item 2; and

•Net changes in PEO assets and liabilities as a result of the timing of cash collected and the settlement of payroll taxes; offset by

•A net decrease in refunds owed to our PEO clients related to tax benefits allowed under the Coronavirus Aid, Relief, and Economic Security Act.

Fiscal 2024

•Net income attributable to the reasons discussed in the “Results of Operations” section of this Item 2; 

•Net changes in PEO assets and liabilities as a result of the timing of cash collected and the settlement of payroll taxes; and

•A net increase in refunds owed to our PEO