Company: ADP
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000008670-25-000047
Chunk: 91

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 due September 1, 20301.83%1,000.0 1,000.0 Fixed-rate 4.750% notes due May 8, 20324.95%1,000.0 1,000.0 Fixed-rate 4.450% notes due September 9, 20344.75%1,000.0 1,000.0 Other2.6 2.9 4,002.6 4,002.9 Less: current portion (a)(1.0)(1.0)Less: unamortized discount and debt issuance costs(26.0)(27.2)Total long-term debt$3,975.6 $3,974.7 (a) - Current portion of long-term debt as of September 30, 2025 is included within accrued expenses and other current liabilities on the Consolidated Balance Sheets.

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The effective interest rates for the Notes include the interest on the Notes and amortization of the discount and debt issuance costs. 

As of September 30, 2025, the fair value of the Notes, based on Level 2 inputs, was $3,841.6 million. For a description of the fair value hierarchy and the Company's fair value methodologies, including the use of an independent third-party pricing service, see Note 1 “Summary of Significant Accounting Policies” in the Company's Annual Report on Form 10-K for fiscal 2025. 

Note 12. Employee Benefit Plans

A.  Stock-based Compensation PlansThe Company's share-based compensation plan consists of stock options, time-based restricted stock, time-based restricted stock units, performance-based restricted stock, and performance-based restricted stock units. The Company also offers an employee stock purchase plan for eligible employees. Beginning in September 2022, the Company discontinued granting stock options, time-based restricted stock and performance-based restricted stock. Any such future awards granted September 2022 and after will be grants of time-based restricted stock units and/or performance-based restricted stock units, depending on employee eligibility. Time-based restricted stock unit awards and performance-based restricted stock unit awards granted to employees with a home country of the United States are settled in stock, and awards granted to employees with a home country outside the United States are generally settled in cash.•Restricted Stock.•Time-Based Restricted Stock Units. Time-based restricted stock units generally vest ratably over 3 years. Awards are generally forfeited if the employee ceases