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Statements of Consolidated Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
REVENUES:    
Revenues, other than interest on funds held for clients and PEO revenues $ 2,080.9 $ 2,037.4
Interest on funds held for clients 99.4 89.2
PEO revenues (A) [1] 898.5 790.3
TOTAL REVENUES 3,078.8 2,916.9
Costs of revenues:    
Operating expenses 1,646.9 1,531.5
Systems development and programming costs 156.9 154.9
Depreciation and amortization 62.6 57.2
TOTAL COSTS OF REVENUES 1,866.4 1,743.6
Selling, general, and administrative expenses 662.4 647.7
Interest expense 28.0 19.9
TOTAL EXPENSES 2,556.8 2,411.2
Other income, net (26.2) (23.0)
EARNINGS BEFORE INCOME TAXES 548.2 528.7
Provision for income taxes 146.7 160.0
NET EARNINGS $ 401.5 $ 368.7
Basic earnings per share (in US$ per share) $ 0.91 $ 0.82
Diluted earnings per share (in US$ per share) $ 0.90 $ 0.81
Basic weighted average shares outstanding (shares) 442.2 452.3
Diluted weighted average shares outstanding (shares) 445.0 455.3
Dividends declared per common share (in US$ per share) $ 0.570 $ 0.530
[1] Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $8,738.5 million and $7,687.6 million for the three months ended September 30, 2017 and 2016, respectively.