Company: ADP
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0000008670-25-000037
Chunk: 127

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-08-06
Form: 10-K
Item: Item 8
Chunk 127
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 plan in the year in which the changes occur in accumulated other comprehensive income (loss).  The Company's pension plans' funded status as of June 30, 2025 and 2024 is as follows:June 30,20252024Change in plan assets:Fair value of plan assets at beginning of year$1,879.6 $1,854.4 Actual return on plan assets147.7 106.8 Employer contributions20.1 13.4 Currency translation adjustments3.7 0.6 Benefits paid(112.9)(95.6)Fair value of plan assets at end of year$1,938.2 $1,879.6 Change in benefit obligation:Benefit obligation at beginning of year$1,706.2 $1,725.8 Service cost6.0 5.2 Interest cost87.4 84.6 Actuarial loss/(gain) (a)26.0 (14.6)Currency translation adjustments5.9 0.8 Curtailments and special termination benefits(0.3)— Benefits paid(112.6)(95.6)Projected benefit obligation at end of year$1,718.6 $1,706.2 Funded status - plan assets less benefit obligations$219.6 $173.4 (a) The actuarial loss for fiscal 2025 was primarily due to changes in the discount rate.The amounts recognized on the Consolidated Balance Sheets as of June 30, 2025 and 2024 consisted of:June 30,20252024Noncurrent assets$334.2 $286.3 Current liabilities(5.9)(11.1)Noncurrent liabilities(108.7)(101.8)Net amount recognized$219.6 $173.4 The accumulated benefit obligation for all defined benefit pension plans was $1,694.9 million and $1,688.5 million at June 30, 2025 and 2024, respectively.

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The Company's pension plans with projected benefit obligations in excess of plan assets as of June 30, 2025 and 2024 had the following projected benefit obligation and fair value of plan assets:June 30,20252024Projected benefit obligation$151.3 $143.7 Fair value of plan assets$36.7 $30.8 The Company's pension