XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements Of Consolidated Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
REVENUES:        
Revenues, other than interest on funds held for clients and PEO revenues $ 2,183.4 $ 2,041.7 $ 4,265.3 $ 4,032.8
Interest on funds held for clients 101.7 117.9 208.4 239.8
PEO revenues 462.7 [1] 411.1 [1] 911.6 [1] 809.0 [1]
TOTAL REVENUES 2,747.8 2,570.7 5,385.3 5,081.6
EXPENSES:        
Operating expenses 1,401.6 1,304.2 2,769.1 2,593.9
Systems development and programming costs 159.9 147.3 316.2 295.2
Depreciation and amortization 62.8 62.2 125.6 125.0
TOTAL COSTS OF REVENUES 1,624.3 1,513.7 3,210.9 3,014.1
Selling, general and administrative expenses 624.7 574.9 1,236.1 1,161.8
Interest expense 3.0 2.1 6.1 4.2
TOTAL EXPENSES 2,252.0 2,090.7 4,453.1 4,180.1
Other income, net (33.0) (96.2) (62.2) (130.4)
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 528.8 576.2 994.4 1,031.9
Provision for income taxes 176.8 203.4 340.0 358.7
NET EARNINGS FROM CONTINUING OPERATIONS 352.0 372.8 654.4 673.2
EARNINGS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES 62.3 3.5 66.8 7.1
Provision for Income Taxes 23.4 1.3 25.1 2.6
NET EARNINGS FROM DISCONTINUED OPERATIONS 38.9 2.2 41.7 4.5
NET EARNINGS $ 390.9 $ 375.0 $ 696.1 $ 677.7
Basic Earnings Per Share from Continuing Operations $ 0.73 $ 0.77 $ 1.36 $ 1.38
Basic Earnings Per Share from Discontinued Operations $ 0.08 $ 0.00 $ 0.09 $ 0.01
BASIC EARNINGS PER SHARE $ 0.81 $ 0.77 $ 1.44 $ 1.39
Diluted Earnings Per Share from Continuing Operations $ 0.72 $ 0.76 $ 1.34 $ 1.37
Diluted Earnings Per Share from Discontinued Operations $ 0.08 $ 0.00 $ 0.09 $ 0.01
DILUTED EARNINGS PER SHARE $ 0.80 $ 0.76 $ 1.43 $ 1.38
Basic weighted average shares outstanding 482.1 486.7 482.8 487.3
Diluted weighted average shares outstanding 486.8 492.4 487.7 492.8
Dividends declared per common share $ 0.435 $ 0.395 $ 0.830 $ 0.755
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $5,410.9 and $4,810.4 for the three months ended December 31, 2012 and 2011, respectively, and $9,936.7 and $8,745.7 for the six months ended December 31, 2012 and 2011, respectively.