Company: ADP
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0000008670-25-000007
Chunk: 51

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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$(840.4)$(27.5)$(230.2)$(1,528.7)Six Months EndedDecember 31, 2023Currency Translation AdjustmentNet Gains/Losses on Available-for-sale SecuritiesCash Flow Hedging ActivitiesPension LiabilityAccumulated Other Comprehensive (Loss) /IncomeBalance at June 30, 2023$(340.8)$(1,705.6)$(23.3)$(236.1)$(2,305.8)Other comprehensive income/(loss) before reclassification adjustments9.3 709.9 — — 719.2 Tax effect— (164.8)— — (164.8)Reclassification adjustments to net earnings— 4.0 (A)2.2 (C)1.9 (B)8.1 Tax effect— (1.0)(0.5)(0.4)(1.9)Balance at December 31, 2023$(331.5)$(1,157.5)$(21.6)$(234.6)$(1,745.2)(A) Reclassification adjustments out of AOCI are included within Other (income)/expense, net, on the Statements of Consolidated Earnings.(B) Reclassification adjustments out of AOCI are included in net pension (income)/expense (see Note 12).(C) Reclassification adjustments out of AOCI are included in Interest expense on the Statements of Consolidated Earnings (see Note 11).

Note 17. Interim Financial Data by Segment

Based upon similar economic and operational characteristics, the Company’s strategic business units have been aggregated into the following two reportable segments: Employer Services and PEO Services. The primary components of the “Other” segment are certain corporate overhead charges and expenses that have not been allocated to the reportable segments, including corporate functions, costs related to transformation, severance costs, non-recurring gains and losses, the elimination of intercompany transactions, interest expense and corporate interest income. Certain revenues and expenses are charged to the reportable segments at a standard rate for management reasons. Other costs are recorded based on management responsibility.

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Segment Results: RevenuesThree Months EndedSix Months EndedDecember 31,December 31, 2024202320242023Employer Services$3,388.5 $3,125.2 $6,649.5 $6,171.6 PE