Company: ADP
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0000008670-25-000037
Chunk: 115

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-08-06
Form: 10-K
Item: Item 8
Chunk 115
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11.2 (34.6)489.6 (35.1)500.8 Other securities(12.2)288.5 (63.7)864.8 (75.9)1,153.3  $(66.8)$5,560.0 $(1,479.9)$22,249.9 $(1,546.7)$27,809.9     At June 30, 2025, Corporate bonds include investment-grade debt securities, with a wide variety of issuers, industries, and sectors, primarily carry credit ratings of A and above, and have maturities ranging from July 2025 through June 2035.    

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At June 30, 2025, asset-backed securities include AAA-rated senior tranches of securities with predominately prime collateral of fixed-rate auto loan, credit card, and device payment plan agreement receivables with fair values of $824.8 million, $549.3 million, and $254.8 million, respectively. These securities are collateralized by the cash flows of the underlying pools of receivables. The primary risk associated with these securities is the collection risk of the underlying receivables. All collateral on such asset-backed securities has performed as expected through June 30, 2025.    At June 30, 2025, U.S. government agency securities primarily include debt directly issued by Federal Farm Credit Banks and Federal Home Loan Banks with fair values of $922.1 million and $267.2 million, respectively. U.S. government agency securities represent senior, unsecured, non-callable debt that primarily carry ratings of Aaa by Moody's and AA+ by Standard & Poor's, with maturities ranging from September 2025 through May 2035. At June 30, 2025, other securities primarily include municipal bonds, diversified with a variety of issuers, with credit ratings of A and above, with fair values of $536.0 million, AA-rated United Kingdom Gilt securities of $550.8 million, commercial mortgage-backed securities of $438.6 million, and AAA-rated supranational bonds of $230.3 million.Classification of corporate investments on the Consolidated Balance Sheets is as follows:June 30,20252024Corporate investments:  Cash and cash equivalents$3,347.8 $2,913.4 Short-term marketable securities4,498.