Company: ADP
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0000008670-25-000037
Chunk: 119

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-08-06
Form: 10-K
Item: Item 8
Chunk 119
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 30, 2025$3,268.7 $4.8 $3,273.5 

66

Components of intangible assets, net, are as follows:June 30,20252024Intangible assets:  Software and software licenses$4,103.6 $3,803.7 Customer contracts and lists1,429.4 1,181.6 Other intangibles249.8 242.0  5,782.8 5,227.3 Less accumulated amortization:  Software and software licenses(2,830.3)(2,642.6)Customer contracts and lists(1,105.6)(1,007.6)Other intangibles(243.9)(241.1) (4,179.8)(3,891.3)Intangible assets, net$1,603.0 $1,336.0 Other intangibles consist primarily of purchased rights, purchased content, trademarks and trade names (acquired directly or through acquisitions). All intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 5 years (5 years for software and software licenses, 4 years for customer contracts and lists, and 3 years for other intangibles). Amortization of intangible assets was $380.6 million, $371.6 million, and $372.8 million for fiscal 2025, 2024, and 2023, respectively.Estimated future amortization expenses of the Company's existing intangible assets are as follows: AmountTwelve months ending June 30, 2026$575.5 Twelve months ending June 30, 2027$251.0 Twelve months ending June 30, 2028$208.2 Twelve months ending June 30, 2029$176.6 Twelve months ending June 30, 2030$133.4 

 NOTE 9. SHORT TERM FINANCING

The Company has a $4.6 billion, 364-day credit agreement that matures in June 2026 with a one-year term-out option. The Company also has a $3.5 billion  five-year credit facility that matures in June 2029 that contains an accordion feature under which the aggregate commitment can be increased by $500 million, subject