Corporate Investments and Funds Held For Clients (Tables)
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3 Months Ended |
Sep. 30, 2017 |
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| Corporate Investments And Funds Held For Clients [Abstract] |
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| Available-for-sale Securities |
Corporate investments and funds held for clients at September 30, 2017 and June 30, 2017 were as follows: | | | | | | | | | | | | | | | | | | September 30, 2017 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Market Value (A) | Type of issue: | | | | | | | | Money market securities, cash and other cash equivalents | $ | 6,083.2 |
| | $ | — |
| | $ | — |
| | $ | 6,083.2 |
| Available-for-sale securities: | | | | | | | | Corporate bonds | 9,417.1 |
| | 102.3 |
| | (18.3 | ) | | 9,501.1 |
| Asset-backed securities | 4,206.3 |
| | 14.4 |
| | (8.7 | ) | | 4,212.0 |
| U.S. government agency securities | 3,216.1 |
| | 19.8 |
| | (10.9 | ) | | 3,225.0 |
| U.S. Treasury securities | 2,184.1 |
| | 2.3 |
| | (17.7 | ) | | 2,168.7 |
| Canadian government obligations and
Canadian government agency obligations | 1,125.7 |
| | 1.3 |
| | (19.1 | ) | | 1,107.9 |
| Canadian provincial bonds | 767.6 |
| | 11.6 |
| | (2.6 | ) | | 776.6 |
| Municipal bonds | 577.0 |
| | 11.0 |
| | (1.2 | ) | | 586.8 |
| Other securities | 523.1 |
| | 6.9 |
| | (1.5 | ) | | 528.5 |
| | | | | | | | | Total available-for-sale securities | 22,017.0 |
| | 169.6 |
| | (80.0 | ) | | 22,106.6 |
| | | | | | | | | Total corporate investments and funds held for clients | $ | 28,100.2 |
| | $ | 169.6 |
| | $ | (80.0 | ) | | $ | 28,189.8 |
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(A) Included within available-for-sale securities are corporate investments with fair values of $140.0 million and funds held for clients with fair values of $21,966.6 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy. | | | | | | | | | | | | | | | | | | June 30, 2017 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Market Value (B) | Type of issue: | |
| | |
| | |
| | |
| Money market securities, cash and other cash equivalents | $ | 8,181.6 |
| | $ | — |
| | $ | — |
| | $ | 8,181.6 |
| Available-for-sale securities: | |
| | |
| | |
| | |
| Corporate bonds | 9,325.3 |
| | 98.8 |
| | (22.0 | ) | | 9,402.1 |
| Asset-backed securities | 4,453.1 |
| | 16.9 |
| | (8.6 | ) | | 4,461.4 |
| U.S. government agency securities | 3,557.7 |
| | 22.2 |
| | (13.4 | ) | | 3,566.5 |
| U.S. Treasury securities | 1,585.9 |
| | 2.6 |
| | (14.3 | ) | | 1,574.2 |
| Canadian government obligations and
Canadian government agency obligations | 1,053.6 |
| | 2.9 |
| | (11.4 | ) | | 1,045.1 |
| Canadian provincial bonds | 746.9 |
| | 14.3 |
| | (1.4 | ) | | 759.8 |
| Municipal bonds | 582.5 |
| | 11.3 |
| | (1.3 | ) | | 592.5 |
| Other securities | 493.6 |
| | 7.3 |
| | (1.4 | ) | | 499.5 |
| | | | | | | | | Total available-for-sale securities | 21,798.6 |
| | 176.3 |
| | (73.8 | ) | | 21,901.1 |
| | | | | | | | | Total corporate investments and funds held for clients | $ | 29,980.2 |
| | $ | 176.3 |
| | $ | (73.8 | ) | | $ | 30,082.7 |
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(B) Included within available-for-sale securities are corporate investments with fair values of $10.8 million and funds held for clients with fair values of $21,890.3 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
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| Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value |
The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of September 30, 2017, are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2017 | | Securities in Unrealized Loss Position Less Than 12 Months | | Securities in Unrealized Loss Position Greater Than 12 Months | | Total | | Gross
Unrealized
Losses | | Fair Market Value | | Gross
Unrealized
Losses | | Fair Market Value | | Gross Unrealized Losses | | Fair Market Value | Corporate bonds | $ | (14.0 | ) | | $ | 2,142.2 |
| | $ | (4.3 | ) | | $ | 238.7 |
| | $ | (18.3 | ) | | $ | 2,380.9 |
| Asset-backed securities | (6.6 | ) | | 1,802.6 |
| | (2.1 | ) | | 162.4 |
| | (8.7 | ) | | 1,965.0 |
| U.S. government agency securities | (10.5 | ) | | 1,638.4 |
| | (0.4 | ) | | 9.6 |
| | (10.9 | ) | | 1,648.0 |
| U.S. Treasury securities | (17.6 | ) | | 1,861.2 |
| | (0.1 | ) | | 2.0 |
| | (17.7 | ) | | 1,863.2 |
| Canadian government obligations and
Canadian government agency obligations | (19.1 | ) | | 783.8 |
| | — |
| | — |
| | (19.1 | ) | | 783.8 |
| Canadian provincial bonds | (2.6 | ) | | 212.9 |
| | — |
| | — |
| | (2.6 | ) | | 212.9 |
| Municipal bonds | (0.7 | ) | | 73.9 |
| | (0.5 | ) | | 15.9 |
| | (1.2 | ) | | 89.8 |
| Other securities | (1.3 | ) | | 163.6 |
| | (0.2 | ) | | 9.8 |
| | (1.5 | ) | | 173.4 |
| | $ | (72.4 | ) | | $ | 8,678.6 |
| | $ | (7.6 | ) | | $ | 438.4 |
| | $ | (80.0 | ) | | $ | 9,117.0 |
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The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2017, are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2017 | | Securities in Unrealized Loss Position Less Than 12 Months | | Securities in Unrealized Loss Position Greater Than 12 Months | | Total | | Gross
Unrealized
Losses | | Fair Market Value | | Gross
Unrealized
Losses | | Fair Market Value | | Gross Unrealized Losses | | Fair Market Value | Corporate bonds | $ | (22.0 | ) | | $ | 2,619.9 |
| | $ | — |
| | $ | 7.4 |
| | $ | (22.0 | ) | | $ | 2,627.3 |
| Asset-backed securities | (8.5 | ) | | 1,916.1 |
| | (0.1 | ) | | 11.3 |
| | (8.6 | ) | | 1,927.4 |
| U.S. government agency securities | (13.4 | ) | | 1,935.3 |
| | — |
| | — |
| | (13.4 | ) | | 1,935.3 |
| U.S. Treasury securities | (14.3 | ) | | 1,317.8 |
| | — |
| | 1.0 |
| | (14.3 | ) | | 1,318.8 |
| Canadian government obligations and
Canadian government agency obligations | (11.4 | ) | | 699.6 |
| | — |
| | — |
| | (11.4 | ) | | 699.6 |
| Canadian provincial bonds | (1.4 | ) | | 179.8 |
| | — |
| | — |
| | (1.4 | ) | | 179.8 |
| Municipal bonds | (1.2 | ) | | 98.8 |
| | (0.1 | ) | | 1.2 |
| | (1.3 | ) | | 100.0 |
| Other securities | (1.3 | ) | | 148.0 |
| | (0.1 | ) | | 8.9 |
| | (1.4 | ) | | 156.9 |
| | $ | (73.5 | ) | | $ | 8,915.3 |
| | $ | (0.3 | ) | | $ | 29.8 |
| | $ | (73.8 | ) | | $ | 8,945.1 |
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| Classification Of Corporate Investments On The Consolidated Balance Sheets |
Classification of corporate investments on the Consolidated Balance Sheets is as follows: | | | | | | | | | | | | September 30, | | June 30, | | | 2017 | | 2017 | Corporate investments: | | | | | Cash and cash equivalents | | $ | 2,363.6 |
| | $ | 2,780.4 |
| Short-term marketable securities (a) | | 113.2 |
| | 3.2 |
| Long-term marketable securities (b) | | 26.8 |
| | 7.6 |
| Total corporate investments | | $ | 2,503.6 |
| | $ | 2,791.2 |
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| Schedule Of Investment Of Funds Held For Clients |
Funds held for clients have been invested in the following categories: | | | | | | | | | | | | September 30, | | June 30, | | | 2017 | | 2017 | Funds held for clients: | | | | | Restricted cash and cash equivalents held to satisfy client funds obligations | | $ | 3,719.6 |
| | $ | 5,401.2 |
| Restricted short-term marketable securities held to satisfy client funds obligations | | 2,317.1 |
| | 2,918.5 |
| Restricted long-term marketable securities held to satisfy client funds obligations | | 19,649.5 |
| | 18,971.8 |
| Total funds held for clients | | $ | 25,686.2 |
| | $ | 27,291.5 |
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| Expected Maturities Of Available-For-Sale Securities |
Expected maturities of available-for-sale securities at September 30, 2017 are as follows: | | | | | One year or less | $ | 2,430.3 |
| One year to two years | 3,878.9 |
| Two years to three years | 4,835.9 |
| Three years to four years | 5,108.2 |
| After four years | 5,853.3 |
| Total available-for-sale securities | $ | 22,106.6 |
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