Company: ADP
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000008670-25-000047
Chunk: 19

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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Item 1. Financial Statements

Automatic Data Processing, Inc. and Subsidiaries

Statements of Consolidated Earnings

(In millions, except per share amounts)

(Unaudited)

Three Months EndedSeptember 30,20252024REVENUES:  Revenues, other than interest on funds held      for clients and PEO revenues$3,203.5 $3,007.2 Interest on funds held for clients286.8 253.3 PEO revenues (A)1,684.9 1,572.2 TOTAL REVENUES5,175.2 4,832.7 EXPENSES:  Costs of revenues:  Operating expenses2,461.6 2,285.8 Research and development251.2 232.6 Depreciation and amortization123.3 115.3 TOTAL COSTS OF REVENUES2,836.1 2,633.7 Selling, general, and administrative expenses1,006.3 926.7 Interest expense135.4 137.8 TOTAL EXPENSES3,977.8 3,698.2 Other income, net(110.1)(101.7)EARNINGS BEFORE INCOME TAXES1,307.5 1,236.2 Provision for income taxes294.5 279.9 NET EARNINGS$1,013.0 $956.3 BASIC EARNINGS PER SHARE$2.50 $2.34 DILUTED EARNINGS PER SHARE$2.49 $2.34 Basic weighted average shares outstanding405.1 407.9 Diluted weighted average shares outstanding406.5 409.5 

(A) Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $18,534.4 million and $17,193.6 million for the three months ended September 30, 2025 and 2024, respectively.

See notes to the Consolidated Financial Statements.

3

 Automatic Data Processing, Inc. and Subsidiaries

Statements of Consolidated Comprehensive Income

(In millions)

(Unaudited)

Three Months EndedSeptember 30,20252024Net earnings$1,013.0 $956.3 Other comprehensive income:Currency translation adjustments(15.5)49.