Company: ADP
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0000008670-25-000007
Chunk: 64

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 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% ChangeSix Months Ended% ChangeDecember 31,December 31,20242023As Reported20242023As ReportedNet earnings  $963.2 $878.4 10 %$1,919.5 $1,737.8 10 %Adjustments:Provision for income taxes298.1 265.4 578.0 498.8 All other interest expense (a)29.6 17.8 50.1 35.8 All other interest income (a)(18.9)(17.2)(42.8)(35.4)Transformation initiatives— 2.7 — 3.4 Legal settlements (b)— — (0.3)— Adjusted EBIT$1,272.0 $1,147.1 11 %$2,504.5 $2,240.4 12 %Adjusted EBIT Margin25.2 %24.6 %25.3 %24.4 %Provision for income taxes$298.1 $265.4 12 %$578.0 $498.8 16 %Adjustments:Transformation initiatives (c)— 0.6 — 0.8 Legal settlements (c)— — (0.1)— Adjusted provision for income taxes$298.1 $266.0 12 %$577.9 $499.6 16 %Adjusted effective tax rate (d)23.6 %23.2 %23.1 %22.3 %Net earnings  $963.2 $878.4 10 %$1,919.5 $1,737.8 10 %Adjustments:Transformation initiatives— 2.7 — 3.4 Income tax (benefit)/provision for transformation initiatives (c)— (0.6)— (0.8)Legal settlements (b)— — (0.3)— Income tax (benefit)/provision for legal settlements (c)— — 0.1 — Adjusted net earnings  $963.2 $880.5 9 %$1,919.3 $