Paychex (PAYX) quarterly cash flow statement covering the six quarters from August 2022 to November 2023, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Nov'23 | Aug'23 | May'23 | Feb'23 | Nov'22 | Aug'22 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||||||||||||
Net income | |||||||||||||||||||||
392,700 | 419,200 | 350,400 | 467,400 | 360,300 | 379,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net income | 392,700 | 419,200 | 350,400 | 467,400 | 360,300 | 379,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||||
44,900 | 41,200 | 44,100 | 44,200 | 44,300 | 44,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 44,900 | 41,200 | 44,100 | 44,200 | 44,300 | 44,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of premiums and discounts on AFS securities, net | |||||||||||||||||||||
1,500 | 1,400 | -2,300 | -4,700 | -5,200 | -6,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of premiums and discounts on AFS securities, net | 1,500 | 1,400 | -2,300 | -4,700 | -5,200 | -6,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amortization of deferred contract costs | |||||||||||||||||||||
57,900 | 57,200 | 56,100 | 55,500 | 54,500 | 53,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amortization of deferred contract costs | 57,900 | 57,200 | 56,100 | 55,500 | 54,500 | 53,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stock-based compensation costs | |||||||||||||||||||||
14,700 | 16,000 | 16,600 | 16,300 | 15,300 | 14,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Stock-based compensation costs | 14,700 | 16,000 | 16,600 | 16,300 | 15,300 | 14,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Benefit from deferred income taxes | |||||||||||||||||||||
-3,200 | -3,200 | -18,400 | -10,300 | -17,800 | 2,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Benefit from deferred income taxes | -3,200 | -3,200 | -18,400 | -10,300 | -17,800 | 2,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Provision for credit losses | |||||||||||||||||||||
5,700 | 4,300 | 4,600 | 5,000 | 3,600 | 4,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Provision for credit losses | 5,700 | 4,300 | 4,600 | 5,000 | 3,600 | 4,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net realized losses/(gains) on sales of AFS securities | |||||||||||||||||||||
- | - | -9,900 | - | - | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net realized losses/(gains) on sales of AFS securities | - | - | -9,900 | - | - | 100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Changes in operating assets and liabilities: | |||||||||||||||||||||
Interest receivable | |||||||||||||||||||||
300 | -1,000 | -3,000 | 4,200 | 2,600 | -1,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Interest receivable | 300 | -1,000 | -3,000 | 4,200 | 2,600 | -1,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable and PEO unbilled receivables, net | |||||||||||||||||||||
-3,800 | -49,100 | 18,900 | 22,200 | 21,300 | 61,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable and PEO unbilled receivables, net | -3,800 | -49,100 | 18,900 | 22,200 | 21,300 | 61,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | |||||||||||||||||||||
84,400 | -38,100 | 5,700 | -31,300 | 67,100 | -23,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | 84,400 | -38,100 | 5,700 | -31,300 | 67,100 | -23,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable and other current liabilities | |||||||||||||||||||||
-23,900 | 90,500 | 24,300 | 54,300 | 49,900 | -61,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and other current liabilities | -23,900 | 90,500 | 24,300 | 54,300 | 49,900 | -61,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred costs | |||||||||||||||||||||
60,900 | 62,200 | 73,800 | 73,500 | 57,600 | 64,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred costs | 60,900 | 62,200 | 73,800 | 73,500 | 57,600 | 64,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in other long-term assets and liabilities | |||||||||||||||||||||
-3,500 | -6,600 | -14,600 | -3,500 | 9,900 | -23,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in other long-term assets and liabilities | -3,500 | -6,600 | -14,600 | -3,500 | 9,900 | -23,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in operating lease right-of-use assets and liabilities | |||||||||||||||||||||
500 | 600 | -200 | 1,600 | 1,400 | 1,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in operating lease right-of-use assets and liabilities | 500 | 600 | -200 | 1,600 | 1,400 | 1,500 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by operating activities | |||||||||||||||||||||
348,500 | 655,800 | 409,300 | 570,400 | 355,400 | 364,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by operating activities | 348,500 | 655,800 | 409,300 | 570,400 | 355,400 | 364,300 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investing activities | |||||||||||||||||||||
Purchases of AFS securities | |||||||||||||||||||||
1,380,200 | 1,923,500 | 1,992,900 | 6,087,500 | 2,697,300 | 3,807,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of AFS securities | 1,380,200 | 1,923,500 | 1,992,900 | 6,087,500 | 2,697,300 | 3,807,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sales and maturities of AFS securities | |||||||||||||||||||||
1,406,300 | 2,200,700 | 1,892,200 | 5,419,700 | 2,564,400 | 5,066,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sales and maturities of AFS securities | 1,406,300 | 2,200,700 | 1,892,200 | 5,419,700 | 2,564,400 | 5,066,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in funds held for clients’ money market securities and other cash equivalents | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in funds held for clients’ money market securities and other cash equivalents | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property and equipment | |||||||||||||||||||||
40,700 | 38,700 | 46,000 | 31,100 | 35,300 | 30,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 40,700 | 38,700 | 46,000 | 31,100 | 35,300 | 30,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Acquisition of businesses, net of cash acquired | |||||||||||||||||||||
300 | 208,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Acquisition of businesses, net of cash acquired | 300 | 208,000 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of other assets, net | |||||||||||||||||||||
14,000 | 6,500 | -1,200 | 3,000 | 3,000 | 5,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of other assets, net | 14,000 | 6,500 | -1,200 | 3,000 | 3,000 | 5,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash (used in)/provided by investing activities | |||||||||||||||||||||
-133,700 | 24,000 | -143,900 | -665,400 | -195,300 | 1,223,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash (used in)/provided by investing activities | -133,700 | 24,000 | -143,900 | -665,400 | -195,300 | 1,223,100 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Financing activities | |||||||||||||||||||||
Net change in client fund obligations | |||||||||||||||||||||
-50,700 | 1,383,500 | -173,800 | 1,117,300 | 39,200 | -507,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in client fund obligations | -50,700 | 1,383,500 | -173,800 | 1,117,300 | 39,200 | -507,900 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in short-term borrowings | |||||||||||||||||||||
- | 3,800 | - | - | - | 2,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in short-term borrowings | - | 3,800 | - | - | - | 2,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends paid | |||||||||||||||||||||
320,200 | 321,900 | 320,900 | 284,800 | 284,700 | 284,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends paid | 320,200 | 321,900 | 320,900 | 284,800 | 284,700 | 284,600 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repurchases of common shares | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repurchases of common shares | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Activity related to equity-based plans | |||||||||||||||||||||
3,000 | 4,000 | 1,800 | 2,900 | 4,100 | -19,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Activity related to equity-based plans | 3,000 | 4,000 | 1,800 | 2,900 | 4,100 | -19,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by/(used in) financing activities | |||||||||||||||||||||
-537,100 | 1,069,400 | -492,900 | 832,600 | -241,400 | -809,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by/(used in) financing activities | -537,100 | 1,069,400 | -492,900 | 832,600 | -241,400 | -809,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net change in cash, restricted cash, and equivalents | |||||||||||||||||||||
-322,300 | 1,749,200 | -227,500 | 737,600 | -81,300 | 777,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net change in cash, restricted cash, and equivalents | -322,300 | 1,749,200 | -227,500 | 737,600 | -81,300 | 777,700 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||