| Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | |
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||
Net earnings | ||||||
131,900 | 388,700 | 302,500 | 246,800 | 186,300 | 235,900 | |
Less: net earnings (loss) from discontinued operations | ||||||
-109,800 | 77,600 | 67,600 | - | - | - | |
Net earnings from continuing operations | ||||||
241,700 | 311,100 | 234,900 | - | - | - | |
Adjustments to reconcile net earnings from continuing operations to cash flows provided by operating activities, continuing operations: | ||||||
Depreciation and amortization | ||||||
89,800 | 70,800 | 63,400 | 64,000 | 76,500 | 52,300 | |
Asset impairment | ||||||
19,300 | 0 | 0 | - | - | - | |
Loss from equity method investment | ||||||
-17,000 | 0 | 0 | - | - | - | |
Deferred income taxes | ||||||
-5,100 | -10,100 | 20,900 | -3,600 | -25,300 | -15,500 | |
Stock-based compensation expense | ||||||
30,500 | 33,400 | 52,700 | 36,400 | 30,400 | 21,000 | |
Pension expense | ||||||
- | - | - | - | 800 | 3,700 | |
Other | ||||||
-11,100 | -4,600 | -4,600 | 5,600 | 12,600 | 3,500 | |
Changes in assets and liabilities, net of effect from acquisitions of businesses: | ||||||
Change in accounts receivable | ||||||
20,100 | 10,600 | 5,600 | 57,000 | 16,900 | 36,400 | |
Change in other assets | ||||||
49,200 | -14,000 | -1,500 | -3,000 | 24,300 | 24,400 | |
Change in accounts payable | ||||||
-1,600 | 10,500 | 5,100 | 15,300 | 3,000 | 300 | |
Change in accrued expenses and other liabilities | ||||||
105,100 | -49,800 | -14,800 | 20,800 | 50,000 | 12,500 | |
Net cash flows provided by operating activities, discontinued operations | ||||||
44,600 | 92,500 | 73,000 | - | - | - | |
Net cash flows provided by operating activities | ||||||
438,500 | 373,900 | 362,700 | 320,100 | 267,900 | 245,900 | |
Cash Flows from Investing Activities | ||||||
Capital expenditures | ||||||
54,400 | 45,900 | 62,400 | 50,800 | 44,000 | 36,600 | |
Capitalized software | ||||||
37,900 | 30,800 | 28,100 | 13,500 | 19,900 | 7,500 | |
Proceeds from sale of property, plant and equipment | ||||||
7,400 | 1,800 | 500 | 1,100 | 900 | 0 | |
Acquisitions of businesses, net of cash acquired | ||||||
513,000 | 12,800 | 0 | 18,100 | 36,600 | 25,700 | |
Proceeds from the sale of a business | ||||||
- | - | - | - | 24,500 | 0 | |
Contributions to investments | ||||||
17,000 | 0 | 2,100 | 10,000 | 22,900 | 0 | |
Proceeds from investments | ||||||
-400 | -800 | -7,900 | -9,700 | -16,600 | 0 | |
Net cash flows used in investing activities, discontinued operations | ||||||
-8,700 | -26,600 | -3,700 | - | - | - | |
Proceeds from notes receivable from ADP and its affiliates | ||||||
- | - | - | - | 40,600 | -4,200 | |
Net cash flows used in investing activities | ||||||
-614,500 | -86,900 | -84,200 | -81,600 | -40,800 | -74,000 | |
Cash Flows from Financing Activities | ||||||
Repayments of notes payable to ADP and its affiliates | ||||||
- | - | - | - | 21,900 | 2,100 | |
Borrowings on notes payable to ADP and its affiliates | ||||||
- | - | - | - | - | 1,000 | |
Net transactions of parent company investment | ||||||
- | - | - | - | -240,800 | -36,300 | |
Proceeds from long-term debt | ||||||
1,100,000 | 500,000 | 1,000,000 | 250,000 | 1,750,000 | 0 | |
Repayments of long-term debt and lease liabilities | ||||||
806,500 | 46,400 | 36,900 | 20,000 | 759,500 | 0 | |
Dividend paid to ADP at spin-off | ||||||
- | - | - | - | 825,000 | 0 | |
Dividends paid to stockholders | ||||||
74,800 | 80,100 | 80,700 | 82,300 | 58,200 | 0 | |
Repurchases of common stock | ||||||
524,100 | 623,600 | 700,000 | 561,000 | 50,000 | 0 | |
Proceeds from exercises of stock options | ||||||
5,000 | 8,900 | 14,700 | 6,700 | 9,800 | 0 | |
Excess tax benefit from stock-based compensation awards | ||||||
- | - | - | 8,900 | 11,200 | 7,100 | |
Withholding tax payments for stock-based compensation awards | ||||||
15,800 | 10,600 | 12,200 | 8,700 | 900 | 0 | |
Dividend payments to noncontrolling owners | ||||||
10,300 | 7,400 | 6,300 | 5,000 | 5,400 | 8,000 | |
Payment of Financing and Stock Issuance Costs | ||||||
11,700 | 7,900 | 10,600 | 2,100 | 9,200 | 0 | |
Acquisition-related payments | ||||||
10,800 | 4,100 | 8,100 | 6,200 | 0 | 10,000 | |
Recovery of dividends paid (Note 1D) | ||||||
- | - | - | 400 | 0 | 0 | |
Net cash flows used in financing activities | ||||||
-349,000 | -271,200 | 159,900 | -419,300 | -199,900 | -48,300 | |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | ||||||
-6,900 | 1,400 | 4,000 | -8,300 | -21,800 | 2,900 | |
Net change in cash, cash equivalents, and restricted cash | ||||||
-496,000 | 83,100 | 511,700 | -189,100 | 5,400 | 126,500 | |
Supplemental Disclosures | ||||||
Cash paid for: | ||||||
Income taxes and foreign withholding taxes, net of refunds, continuing operations | ||||||
124,200 | 118,900 | 120,300 | 109,400 | 120,800 | 18,100 | |
Interest | ||||||
130,000 | 92,800 | 49,600 | 37,800 | 19,200 | 100 | |
Non-cash consideration issued for acquisitions (Note 5) | ||||||
0 | 14,500 | 0 | 13,500 | 8,500 | 0 | |