Company: ADP
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0000008670-25-000007
Chunk: 27

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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289.7 281.6 Amortization of deferred contract costs565.9 526.7 Deferred income taxes32.5 22.5 Stock-based compensation expense139.7 132.4 Bad debt expense23.1 24.5 Net pension income(9.8)(11.6)Net accretion of discounts and amortization of premiums on available-for-sale securities(31.5)(17.4)Other4.7 (7.6)Changes in operating assets and liabilities:  Increase in accounts receivable(94.7)(382.3)Increase in deferred contract costs(565.3)(538.0)Increase in other assets(271.0)(313.6)Increase/(Decrease) in accounts payable82.4 (19.0)Decrease in accrued expenses and other liabilities(110.5)(77.1)Net cash flows provided by operating activities1,974.7 1,358.9 Cash Flows from Investing Activities:  Purchases of corporate and client funds marketable securities(3,990.7)(1,305.5)Proceeds from the sales and maturities of corporate and client funds marketable securities2,524.1 1,503.2 Capital expenditures(98.2)(94.1)Additions to intangibles(175.7)(165.7)Acquisitions of businesses, net of cash acquired(1,160.6)(33.6)Proceeds from sale of property, plant, and equipment and other assets3.3 26.4 Other(4.5)(8.5)Net cash flows used in investing activities(2,902.3)(77.8)Cash Flows from Financing Activities:  Net increase in client funds obligations9,090.4 5,421.9 Net cash distributed from the Internal Revenue Service(487.6)— Payments of debt(0.6)(0.5)Proceeds from the issuance of debt988.9 — Settlement of cash flow hedges(12.5)— Repurchases of common stock(644.9)(504.7)Net proceeds from stock purchase plan and stock-based compensation plans38.6 (17.5)Dividends paid(1,145.1)(1,032.1)Net proceeds related to reverse repurchase agreements(344.7)(51.0)Net