Company: ADP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000008670-25-000015
Chunk: 28

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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ization436.7 426.2 Amortization of deferred contract costs852.0 795.0 Deferred income taxes17.2 (4.4)Stock-based compensation expense202.5 188.7 Bad debt expense40.2 38.5 Net pension income(14.8)(17.4)Net accretion of discounts and amortization of premiums on available-for-sale securities(49.8)(29.2)Other10.8 (5.4)Changes in operating assets and liabilities:  Increase in accounts receivable(138.7)(496.2)Increase in deferred contract costs(890.8)(865.9)Increase in other assets(154.9)(225.7)Increase/(decrease) in accounts payable42.0 (9.1)Increase/(decrease) in accrued expenses and other liabilities(20.9)139.2 Net cash flows provided by operating activities3,500.5 2,857.0 Cash Flows from Investing Activities:  Purchases of corporate and client funds marketable securities(5,656.4)(4,365.7)Proceeds from the sales and maturities of corporate and client funds marketable securities3,782.9 3,624.6 Capital expenditures(134.6)(153.7)Additions to intangibles(276.8)(263.2)Acquisitions of businesses, net of cash acquired(1,165.1)(33.6)Proceeds from sale of property, plant, and equipment and other assets3.3 28.3 Other(11.5)(8.5)Net cash flows used in investing activities(3,458.2)(1,171.8)Cash Flows from Financing Activities:  Net increase in client funds obligations634.4 10,999.6 Net cash (distributed)/received from the Internal Revenue Service(549.2)1,132.0 Payments of debt(0.9)(0.7)Proceeds from the issuance of debt988.9 — Settlement of cash flow hedges(12.5)— Repurchases of common stock(956.5)(796.2)Net proceeds from stock purchase plan and stock-based compensation plans98.7 24.6 Dividends paid(1,773.1)(1,608.0)Net proceeds related to reverse rep