0000000000-20-001792.txt : 20200507 0000000000-20-001792.hdr.sgml : 20200507 20200227145930 ACCESSION NUMBER: 0000000000-20-001792 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20200227 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: PAYCHEX INC CENTRAL INDEX KEY: 0000723531 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700] IRS NUMBER: 161124166 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 911 PANORAMA TRAIL S CITY: ROCHESTER STATE: NY ZIP: 14625-0397 BUSINESS PHONE: 5853856666 MAIL ADDRESS: STREET 1: 911 PANORAMA TRAIL SOUTH CITY: ROCHESTER STATE: NY ZIP: 14625-0397 PUBLIC REFERENCE ACCESSION NUMBER: 0000723531-19-000032 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4-)>+CS],-"CD@,"!O8FH-/#PO3&EN96%R:7IE9" Q+TP@,S,U M-C O3R Q,2]%(#(X-# T+TX@,B]4(#,S,C8S+T@@6R T-34@,30Y73X^#65N M9&]B:@T@(" @(" @(" @(" @(" @(" @#0HQ-B P(&]B:@T\/"]$96-O9&50 M87)M7!E+UA2968O5ULQ(#(@,5T^/G-T,C17,% PM% P-U&P ML=%W2BQ.=%#(, @P 8!0VPPT*96YD)S-6-MRFT@0?==7]*.WRB(,-Z%]VJN/>FPB.17:J_" 3+W:\\4R.AW/%8DSKA6%!SC,&:,;7BC-#6ET.?T06SI ML])?B 61%TX]?QZ-F+$5"?W0&7;,3S1(SPQS8V<&0YZ_3\GK(A*_'[IE/G,B M-OK\#X#;:[K=.'2:5TKGB&3Z)RV5IG(MZ$J:A&?T67!-;XM4I'3-=^0S.P-L M?M1X,&=.,#0N,ZB_KS+,4/ C_5F'YPM]^J <*$43^:>,Q'(<@ M= _&X8U%X%H[S4",%*1Q[<=.]+]<>X$3#PP\];[^$K3F&"8M'J78 L^=JC0M M92:+53UU]5U;N:7*,K6UXD3E.8;2.$]/[PHR*A>DE@0]&UG?-W.;HIWM-X5[46*$J$++:%/:P':' M#C%/M;L4398I4VF!$(\@Z\>^,^2;DY#UH_E!4?O(WF2"&PNLV2B$BTR!(@1[ M+.IL08BE*.B^,K(0QE#*=X;N=RTH%FP+O18/E:60=)AOV';U61\T3!I/'Z6I M(>4&($*(WQMEC+Q'SV_7<&G1W\HLVP=HB[FLI:FB0I5 /),"M1^!.6C)M:LK M\ZQW*W>@T89CO50RGU+"5 M3ZL8&U)JOUX72]M@S1Q8X%]$=5B^KI7K >%I*BWXH+9N.HZEX7JG-IYKF7P[ M00I>'*/I\HGO,0?-WEQFDSNXV ZR]>;M](W)7%HD+[:1_T#4W8;3QO+"]M3# M40BIVZY50Q2\67QP0/\\"E& HR:?>)8=9^WE$11PI,=#%/:R(0J7*+7*9,HQ M:@"@0-=*8'!70E#7M)]VY[QO;,JBR$KW:?=B#F+ DT\L(7MQ>WDDYJ!EEC'9 M=V-^CM0R,HYKR\WU[J3RC1:8>V,WI^8&QI&O! 5N/ZLNO+Z[J1]Z5KK/ZF?W M2L^/3BOR$3/82=SAZ+*Q3<1%+5C]_) H;EXRC\4$@!B[6QJQX1JX9<]DM.QJ M;YX1M5,!BA5:-E,.8ACVQ#X =]X>?*B"55,; 0^65<37#8H@#.& %21AVWFB M6[$$]8!B;BO0[C:A;A^?V,0.M)*OL\,MBS&'L-MO)V4B" MCSBH$81!,)"?TTH4>":KH^)I+@MI2JN#?MSK.#]@@%]-_CS=#.^",::;S>T2 MW%R-#S<+VU>$,=EPN#_8PKRF*=T)_8B7'73$HR@J\:(6KLA## MT6W/C\!'Y8+V\DB@@7]P?G2R8: 7Q@BTRZU(U*J0W] P2ZWRNJ+*NXQH+B]9J:YV/ M^,5NTO!1*D":&'BXM;G63JF-I2:W1,N:5BU)6= $50$ M M M M M M M M ,\ 496ZF0T*96YD)SMG>M5XSH41M,"+4P+:6%:H 5: MH 5:H 5:H 5:H 5:\#TK>^6L@R0KS@-FAKOW#U9P9%F6'4OZ?![+(B(B(B(B M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(O\V'Q\?[^_O;V]OKZ^O+P>> MGY^?#L2'ET(4B&)1.';YTZT6$1$1$1$1D1](RA3/S\^/CX_W]_>_#MP=V4W) M8NSU^_?OJ.'IZ>GU]55!0T1$1$1$1$0NYNWM[>GIZ>'A8;_?-P+%KU^_[N_O MXZO'U#%$1$1$1$1$9,+'QP?&%;]__\:L IEBO]_' MEMA^$^\/3#B"EY<7A)$\5OR-?],DXX:G)B(B(B(B(B+_-&]O;X^/C]4H(C[' MEN?GY^U*!:)$_WG.QX&7EQ>\4;(!^_W^X>$AME]^5B(B(B(B(B+RCX-7""XA MV#P\/#QLL7F( MAF9$2+_!PU?'Q\W-_?IU=(E(RCI)M)U32PXJ@UQ[[1@,?' 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M1U!,+79E&UP34TZ26YS M=&%N8V5)1#YU=6ED.C5E9C-F8F%C+3,T,C0M-#,S,BTY,C&UP34TZ26YS=&%N8V5)1#X*(" @(" @/"]R9&8Z1&5S8W)I<'1I M;VX^"B @(#POF4@.2]4>7!E+UA2968O5ULQ(#(@,%T^/G-T!,AF! @P &<_!1H-"F5N9'-T C TEXT-EXTRACT 2 filename2.txt February 27, 2020 Martin Mucci President and Chief Executive Officer Paychex, Inc. 911 Panorama Trail South Rochester, New York 14625-2396 Re: Paychex, Inc. Form 10-K for the Fiscal Year Ended May 31, 2019 Filed July 24, 2019 File No. 000-11330 Dear Mr. Mucci: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the Fiscal Year Ended May 31, 2019 Consolidated Financial Statements Consolidated Statements of Income and Comprehensive Income, page 40 1. Please tell us and present separately in your financial statements the material components of the operating expenses line item. Refer to Rule 5-03.3 of Regulation S-X. Please also tell us and disclose in an accounting policy footnote the types of amounts included in operating expenses versus selling, general and administrative expenses. Note B - Service Revenue Assets Recognized from the Costs to Obtain and Fulfill Contracts, page 55 2. Please tell us the specific types of incremental costs of obtaining a contract that you have recognized as an asset. Also, tell us separately for each type of incremental cost how you determined the asset recognition criteria in paragraphs 25-1 through 25-3 of ASC 340-40- 25 were met. Martin Mucci Paychex, Inc. February 27, 2020 Page 2 We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Keira Nakada at (202) 551-3659 or Rufus Decker at (202) 551- 3769 with any questions. FirstName LastNameMartin Mucci Sincerely, Comapany NamePaychex, Inc. Division of Corporation Finance February 27, 2020 Page 2 Office of Trade & Services FirstName LastName