Company: ADP
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000008670-25-000047
Chunk: 37

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 2025 and June 30, 2025 the Company had $5.2 billion and $4.8 billion of commercial paper outstanding, which were repaid in early October 2025 and early July 2025, respectively. Details of the borrowings under the commercial paper program are as follows:Three Months EndedSeptember 30,20252024Average daily borrowings (in billions)$4.5 $4.8 Weighted average interest rates4.4 %5.3 %Weighted average maturity (approximately in days)2 days2 daysThe Company’s U.S., Canadian and United Kingdom short-term funding requirements related to client funds obligations are sometimes obtained on a secured basis through the use of reverse repurchase agreements, which are collateralized principally by government and government agency securities, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. These agreements generally have terms ranging from overnight to up to five business days. As of September 30, 2025 and June 30, 2025, the Company had $247.4 million and $38.4 million of outstanding obligations related to reverse repurchase agreements, respectively. The Company has $7.5 billion available on a committed basis under the U.S. reverse repurchase agreements. Details of the reverse repurchase agreements are as follows:Three Months EndedSeptember 30,20252024Average outstanding balances (in billions)$4.5 $3.8 Weighted average interest rates4.4 %5.3 %

Note 11. Debt

The Company issued four series of fixed-rate notes with staggered maturities of 7 and 10 years at the time of issuance totaling $4.0 billion (collectively the “Notes”). The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually.The principal amounts and associated effective interest rates of the Notes and other debt as of September 30, 2025 and June 30, 2025, are as follows: Debt instrumentEffective Interest RateSeptember 30, 2025June 30, 2025Fixed-rate 1.700% notes due May 15, 20281.85%1,000.0 1,000.0 Fixed-rate 1.250% notes due September 1, 20301.83%1,000.0 1,000.0 Fixed-rate 4.750% notes