Company: ADP
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000008670-25-000047
Chunk: 32

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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)44.3 (26.9)588.8 (27.7)633.1 Other securities(1.5)168.4 (61.3)1,130.2 (62.8)1,298.6  $(10.2)$1,963.9 $(672.1)$16,184.9 $(682.3)$18,148.8 At September 30, 2025, Corporate bonds include investment-grade debt securities with a wide variety of issuers, industries, and sectors, primarily carrying credit ratings of A and above, and have maturities ranging from October 2025 through September 2035. At September 30, 2025, asset-backed securities include AAA-rated senior tranches of securities with predominantly prime collateral of fixed-rate auto loan, credit card, and device payment plan agreement receivables with fair values of $936.6 million, $584.7 million, and $313.6 million, respectively. These securities are collateralized by the cash flows of the underlying pools of receivables. The primary risk associated with these securities is the collection risk of the underlying receivables. All collateral on such asset-backed securities has performed as expected through September 30, 2025.At September 30, 2025, U.S. government agency securities primarily include debt directly issued by Federal Farm Credit Banks and Federal Home Loan Banks with fair values of $743.2 million and $126.8 million, respectively. U.S. government agency securities represent senior, unsecured, non-callable debt that primarily carry ratings of Aa1 by Moody's, and AA+ by Standard & Poor's, with maturities ranging from November 2025 through May 2035. At September 30, 2025, other securities primarily include AA-rated United Kingdom Gilt securities of $642.5 million, municipal bonds, diversified with a variety of issuers, with credit ratings of A and above with fair values of $538.6 million, commercial mortgage-backed securities of $418.6 million, and AAA-rated supranational bonds of $232.6 million.Classification of corporate investments on the Consolidated Balance Sheets is as follows:September 30,June 30,20252025Corporate investments:  Cash and cash equivalents$2,478.0 $3,347.8 Short-term marketable securities5,466.1 4,498.