AUTOMATIC DATA PROCESSING, INC. ADP Income Statement

Automatic data processing, inc. (ADP)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Dec'08	Sep'08
REVENUES:
Revenues, other than interest on funds held for clients and PEO revenues
2,652	2,398	2,306	2,290	2,546	2,319	2,218	2,219	2,495	2,190	2,078	2,065	2,329	2,077	2,037	2,037	2,283	1,984	1,928	1,925	2,178	1,940	1,884	1,870	2,077	1,876	1,770	360	2,435	2,183	2,081	2,042	2,266	2,041	1,991	1,930	2,143	1,921	1,763	1,722	1,919	1,761	1,674	1,772	1,752
Interest on funds held for clients
158	137	133	146	167	129	118	125	134	106	99	104	111	91	89	97	102	89	87	95	101	90	90	94	100	89	89	99	112	101	106	120	133	117	121	135	148	129	126	946	-147	-127	-127	-147	-151
PEO revenues (A)
1,236	1,133	1,055	1,106	1,113	1,043	973	971	1,066	941	898	886	969	818	790	763	862	733	697	674	744	622	591	580	647	527	501	486	562	462	448	440	510	411	397	394	445	355	338	328	376	308	293	283	277
TOTAL REVENUES
4,047	3,669	3,495	3,544	3,828	3,492	3,310	3,316	3,696	3,238	3,077	3,057	3,410	2,987	2,916	2,898	3,248	2,807	2,714	2,694	3,024	2,653	2,566	2,545	2,825	2,493	2,362	947	3,109	2,747	2,637	2,602	2,910	2,570	2,510	2,460	2,737	2,405	2,229	2,190	2,443	2,198	2,096	2,203	2,181
Costs of revenues:
Operating expenses
1,974	1,836	1,787	1,821	1,855	1,772	1,697	1,715	1,845	1,709	1,630	1,592	1,701	1,560	1,531	1,494	1,611	1,479	1,439	1,397	1,482	1,383	1,361	1,345	1,395	1,289	1,259	599	1,515	1,401	1,367	1,351	1,410	1,304	1,289	1,298	1,300	1,173	1,116	1,086	1,140	1,046	1,003	1,007	1,046
Systems development and programming costs
172	168	168	162	160	156	158	153	163	159	158	171	153	152	154	150	147	149	156	152	149	147	145	140	139	138	132	16	164	159	156	153	143	147	147	137	155	142	134	137	130	120	125	123	130
Depreciation and amortization
92	89	88	82	77	71	72	72	70	69	62	57	56	54	57	53	53	53	50	51	52	51	51	49	50	50	48	4	63	62	62	66	64	62	62	60	64	64	60	58	60	59	60	57	59
TOTAL COSTS OF REVENUES
2,239	2,094	2,044	2,066	2,092	2,000	1,927	1,942	2,079	1,937	1,851	1,822	1,911	1,767	1,743	1,698	1,812	1,682	1,646	1,601	1,684	1,583	1,558	1,535	1,585	1,478	1,440	620	1,743	1,624	1,586	1,571	1,618	1,513	1,500	1,495	1,520	1,380	1,311	1,282	1,330	1,227	1,189	1,187	1,236
Selling, general, and administrative expenses
756	754	726	854	750	745	713	810	750	723	675	820	665	640	647	770	634	627	605	725	607	588	576	668	585	578	537	310	653	624	611	671	619	574	586	651	577	570	515	612	504	518	491	573	526
Interest expense
20	31	39	33	21	38	35	28	18	27	28	22	16	20	19	18	16	16	4	1	0	2	1	1	0	2	1	1	1	3	3	2	1	2	2	1	1	2	2	1	1	2	3	8	19
TOTAL EXPENSES
3,015	2,880	2,811	2,954	2,864	2,784	2,677	2,781	2,848	2,689	2,554	2,665	2,592	2,429	2,411	2,486	2,463	2,326	2,256	2,328	2,292	2,174	2,136	2,205	2,171	2,059	1,980	975	2,398	2,252	2,201	2,245	2,239	2,090	2,089	2,148	2,099	1,953	1,830	1,896	1,836	1,748	1,684	1,768	1,782
Other income, net
44	46	54	43	21	32	13	-280	27	38	42	82	9	228	23	15	9	27	47	15	7	19	20	12	7	27	22	20	12	33	29	29	10	96	34	32	15	32	37	11	26	29	33	38	42
EARNINGS BEFORE INCOME TAXES
1,076	835	739	633	984	741	646	255	875	587	564	474	827	786	528	427	794	507	505	381	739	498	450	352	660	462	403	-7	723	528	465	387	682	576	455	344	653	484	436	305	633	479	445	473	441
Provision for income taxes
255	183	156	157	230	182	141	114	214	-82	152	153	240	275	160	145	262	166	167	124	249	166	153	122	227	147	138	6	241	176	163	135	231	203	155	111	229	174	157	97	231	164	162	172	163
NET EARNINGS FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	282	532	341	337	257	490	332	296	230	433	314	264	-13	481	352	302	251	450	372	300	-	-	-	-	207	401	315	282	300	278
LOSSES FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1	103	0	-0	67	96	125	99	93	372	1	62	4	-	3	3	-	-	-	-	-	-	-	-	-	-	-
Provision for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-0	24	1	0	69	38	37	36	30	131	0	23	1	-	1	1	-	-	-	-	-	-	-	-	-	-	-
NET LOSS FROM DISCONTINUED OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-0	79	-0	-1	-1	58	88	62	63	240	1	38	2	6	2	2	2	-	-	-	-	0	2	0	1	0	-1
NET EARNINGS
820	651	582	475	753	558	505	140	661	670	412	320	587	510	368	282	532	341	336	336	489	331	295	288	521	377	328	226	482	390	305	258	452	375	302	241	423	310	278	207	403	315	284	300	276
Basic earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.62	1.17	0.75	0.73	0.55	1.04	0.70	0.62	0.48	0.90	0.66	0.55	-0.04	1.00	0.73	0.63	0.51	0.92	0.77	0.62	-	-	-	-	0.42	0.80	0.63	0.56	0.60	0.55
Basic earnings per share from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.16	0.00	0.00	0.00	0.13	0.18	0.13	0.13	0.50	0.00	0.08	0.01	0.03	0.00	0.00	0.00	-	-	-	-	0.00	0.01	0.00	0.00	0.00	0.00
Basic earnings per share (in US$ per share)
1.91	1.51	1.35	1.09	1.74	1.28	1.16	0.33	1.50	1.52	0.93	0.71	1.32	1.14	0.82	0.62	1.17	0.75	0.73	0.71	1.04	0.70	0.62	0.61	1.09	0.79	0.68	0.47	1.00	0.81	0.63	0.53	0.93	0.77	0.62	0.49	0.85	0.63	0.57	0.42	0.80	0.63	0.57	0.60	0.55
Diluted earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.62	1.17	0.74	0.72	0.55	1.03	0.69	0.62	0.47	0.90	0.65	0.55	-0.03	0.99	0.72	0.62	0.51	0.91	0.76	0.61	-	-	-	-	0.43	0.79	0.62	0.56	0.59	0.54
Diluted earnings per share from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.00	0.16	0.00	0.00	0.00	0.13	0.18	0.13	0.13	0.49	0.00	0.08	0.01	0.03	0.00	0.00	0.00	-	-	-	-	0.00	0.01	0.00	0.00	0.00	0.00
Diluted earnings per share (in US$ per share)
1.90	1.50	1.34	1.09	1.73	1.27	1.15	0.32	1.49	1.51	0.93	0.72	1.31	1.13	0.81	0.62	1.17	0.74	0.72	0.72	1.03	0.69	0.61	0.60	1.08	0.78	0.68	0.47	0.99	0.80	0.63	0.53	0.92	0.76	0.61	0.49	0.85	0.62	0.56	0.42	0.80	0.62	0.56	0.59	0.54
Basic weighted average shares outstanding (shares)
430	431	432	433	434	435	436	437	441	441	442	444	446	447	452	453	454	457	462	465	470	476	478	478	478	478	480	482	482	482	483	486	488	486	487	494	496	492	491	496	502	502	501	503	507
Diluted weighted average shares outstanding (shares)
431	433	435	435	436	438	439	441	443	443	445	446	449	450	455	453	456	460	465	467	474	480	481	482	483	482	484	486	486	486	488	489	493	492	493	500	501	496	494	499	505	506	503	506	513
Direct pass-through costs PEO revenues
-	12,371	10,510	-	-	11,751	9,629	-	10,176	10,632	-	-	-	9,145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends declared per common share (in US$ per share)
-	-	-	-	-	-	-	-	-	-	0.57	-	0.57	0.57	0.53	-	0.53	0.53	0.49	-	0.49	0.49	0.48	-	0.48	0.48	0.43	-	0.43	0.43	0.39	-	0.39	0.39	0.36	-	0.36	0.36	-	-	0.34	0.34	0.33	0.33	0.29