Company: PAYC
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000950170-25-024136
Chunk: 218

Company: Paycom Software, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 218
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 maintain a single database for all HCM functions and all of our clients are required to utilize our payroll application. The Company derives revenue primarily in North America and manages the business activities on a consolidated basis. No individual client represents 10% or more of total revenues.The accounting policies of the segment are the same as those described in Note 2 “Summary of Significant Accounting Policies”. The Company’s CODM is our Chief Executive Officer. The CODM assesses performance for the segment and decides how to allocate resources based on net income, as reported on the consolidated statements of comprehensive income. Net income is used monthly to monitor budget versus actual results. The CODM manages the business using consolidated expense information as well as regularly provided budgeted or forecasted expense information for the single operating segment. The total assets of the segment are reported on the consolidated balance sheets. Significant non-cash items including expenditures for purchases of long-lived assets and non-cash stock-based compensation expense of the segment are reported on the consolidated statements of cash flows.The Company does not have any intra-entity sales or transfers.

78

Paycom Software, Inc.Notes to the Consolidated Financial Statements(tabular dollars and shares in millions, except per share and per unit amounts) 

The table below highlights the Company’s revenues, expenses and net income for our single reportable segment, which are consistent with amounts reported on the consolidated statements of comprehensive income for the years ended December 31, 2024, 2023 and 2022.

        Year Ended December 31,

        2024

        2023

        2022

        Revenues

        Recurring
         
        $
        1,733.9

        $
        1,563.4

        $
        1,323.8

        Implementation and other

        24.4

        22.3

        18.7

        Interest on funds held for clients

        124.9

        108.0

        32.7

        Total revenues

        1,883.2

        1,693.7

        1,375.2

        Cost of revenues

        Operating expenses

        267.4

        223.7

        169.8

        Depreciation and amortization

        67.2

        52.6

        42.9

        Total cost of revenues

        334.6

        276.3