XML 33 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Statements of Consolidated Cash Flows - USD ($)
$ in Millions
3 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net earnings $ 700.5 $ 602.1
Adjustments to reconcile net earnings to cash flows provided by operating activities:    
Depreciation and amortization 129.1 131.1
Amortization of deferred contract costs 237.3 232.3
Deferred income taxes 25.6 23.5
Stock-based compensation expense 42.3 33.8
Net pension income (15.8) (11.1)
Net amortization of premiums and accretion of discounts on available-for-sale securities 22.7 12.4
Impairment of assets 0.0 2.8
Gain on sale of assets (1.3) (0.2)
Other 3.2 6.1
Changes in operating assets and liabilities:    
Increase in accounts receivable (51.8) (78.7)
Increase in other assets (494.2) (454.8)
(Decrease)/Increase in accounts payable (61.9) 5.7
Decrease in accrued expenses and other liabilities (413.8) (23.1)
Net cash flows provided by operating activities 121.9 481.9
Cash Flows from Investing Activities:    
Purchases of corporate and client funds marketable securities (2,412.6) (812.8)
Proceeds from the sales and maturities of corporate and client funds marketable securities 1,279.1 1,196.7
Capital expenditures (35.9) (43.5)
Additions to intangibles (93.2) (76.4)
Proceeds from sale of property, plant, and equipment and other assets 26.2 0.2
Net cash flows (used in)/provided by investing activities (1,236.4) 264.2
Cash Flows from Financing Activities:    
Net increase in client funds obligations 12,100.6 3,203.3
Payments of debt (0.2) (1,000.6)
Proceeds from the issuance of debt 0.0 991.1
Settlement of cash flow hedges 0.0 (43.6)
Repurchases of common stock (528.0) (213.6)
Net proceeds from stock purchase plan and stock-based compensation plans (16.7) (7.9)
Dividends paid (393.2) (391.0)
Net proceeds/(payments) related to reverse repurchase agreements 22.3 (13.6)
Net cash flows provided by financing activities 11,184.8 2,524.1
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents (21.2) 37.9
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents 10,049.1 3,308.1
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period 13,143.2 7,053.6
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period 23,192.3 10,361.7
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 1,602.1 1,613.1
Restricted cash and restricted cash equivalents included in funds held for clients [1] 21,590.2 8,748.6
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 23,192.3 10,361.7
Supplemental disclosures of cash flow information:    
Cash paid for interest 23.9 27.3
Cash paid for income taxes, net of income tax refunds $ 55.0 $ 45.4
[1] See Note 6 for a reconciliation of restricted cash and restricted cash equivalents in funds held for clients on the Consolidated Balance Sheets.