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

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 tax(428.5)722.6 279.6 560.6 Comprehensive income$534.7 $1,601.0 $2,199.1 $2,298.4 

See notes to the Consolidated Financial Statements. 

4

Automatic Data Processing, Inc. and Subsidiaries

Consolidated Balance Sheets

(In millions, except per share amounts)

(Unaudited)December 31,June 30,20242024AssetsCurrent assets:  Cash and cash equivalents$2,216.4 $2,913.4     Accounts receivable, net of allowance for doubtful accounts of $50.3 and $52.2, respectively3,503.5 3,428.2 Other current assets 1,126.8 1,204.8 Total current assets before funds held for clients6,846.7 7,546.4 Funds held for clients47,407.7 37,996.1 Total current assets54,254.4 45,542.5 Long-term receivables, net of allowance for doubtful accounts of $0.2 and $0.1, respectively5.9 7.3 Property, plant and equipment, net682.2 685.6 Operating lease right-of-use asset342.9 370.6 Deferred contract costs2,936.4 2,965.0 Other assets951.9 1,102.1 Goodwill3,183.9 2,353.6 Intangible assets, net1,739.1 1,336.0 Total assets$64,096.7 $54,362.7 Liabilities and Stockholders' Equity  Current liabilities:  Accounts payable$186.4 $100.6 Accrued expenses and other current liabilities3,088.7 3,349.0 Accrued payroll and payroll-related expenses682.6 958.7 Dividends payable621.6 566.4 Short-term deferred revenues236.7 199.8 Obligations under reverse repurchase agreements (A)— 385.4 Short-term debt1,000.5 1.1 Income taxes payable4.4 15.1 Total current liabilities before client funds obligations5,820.9 5,576.1 Client funds obligations