Company: ADP
Filing Date: 2025-08-06
Form Type: 10-K
Source: 0000008670-25-000037
Chunk: 89

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-08-06
Form: 10-K
Item: Item 8
Chunk 89
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EXPENSES:  Costs of revenues:  Operating expenses9,622.7 9,050.1 8,657.4 Research and development988.6 955.7 844.8 Depreciation and amortization486.0 470.9 451.2 TOTAL COSTS OF REVENUES11,097.3 10,476.7 9,953.4 Selling, general, and administrative expenses4,051.7 3,778.9 3,551.4 Interest expense455.9 361.4 253.3 TOTAL EXPENSES15,604.9 14,617.0 13,758.1 Other (income)/expense, net(354.1)(286.7)(183.5)EARNINGS BEFORE INCOME TAXES5,310.1 4,872.3 4,437.6 Provision for income taxes1,230.4 1,120.3 1,025.6 NET EARNINGS$4,079.7 $3,752.0 $3,412.0 BASIC EARNINGS PER SHARE$10.02 $9.14 $8.25 DILUTED EARNINGS PER SHARE$9.98 $9.10 $8.21 Basic weighted average shares outstanding407.1 410.6 413.7 Diluted weighted average shares outstanding408.7 412.2 415.7 

(A) For the years ended June 30, 2025 (“fiscal 2025”), June 30, 2024 (“fiscal 2024”), and June 30, 2023 (“fiscal 2023”), Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $75,220.1 million, $69,874.1 million, and $66,731.7 million, respectively.

See notes to the Consolidated Financial Statements.

47

Automatic Data Processing, Inc. and Subsidiaries

Statements of Consolidated Comprehensive Income

(In millions)

Years ended June 30,202520242023Net earnings$4,079.7 $3,752.0 $3,412.0 Other comprehensive income/(loss):Currency translation adjustments89.0 (