Company: ADP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000008670-25-000015
Chunk: 99

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 MarketValueGrossUnrealizedLossesFair MarketValue GrossUnrealizedLossesFairMarket ValueCorporate bonds$(25.8)$2,173.6 $(919.0)$12,413.4 $(944.8)$14,587.0 U.S. Treasury securities(23.1)2,186.2 (141.4)4,076.9 (164.5)6,263.1 Canadian government obligations and Canadian government agency obligations(0.9)304.6 (85.7)1,591.6 (86.6)1,896.2 U.S. government agency securities(0.7)51.5 (139.9)1,428.2 (140.6)1,479.7 Asset-backed securities(2.3)351.4 (40.7)668.0 (43.0)1,019.4 Canadian provincial bonds(1.3)193.0 (54.9)717.4 (56.2)910.4 Commercial mortgage-backed securities(0.5)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 March 31, 2025, corporate bonds include investment-grade debt securities with a wide variety of issuers, industries, and sectors, primarily carrying credit ratings of A and above, and have maturities ranging from April 2025 through March 2035. At March 31, 2025, asset-backed securities include AAA-rated senior tranches of securities with predominantly prime collateral of fixed-rate auto loan, credit card, and equipment lease receivables with fair values of $816.0 million, $536.1 million, and $211.8 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 March 31, 2025.

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