ADP 2002 Annual Report Download - page 29

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27
Statements of Consolidated Earnings Automatic Data Processing, Inc. and Subsidiaries
(In thousands, except per share amounts)
Years ended June 30 , 20 02 20 01 20 00
Revenues other than interest on funds held for clients
and PEO revenues $6 ,305,20 6 $6,100,112 $5,609,962
Interest on funds held for clients 43 1,23 6 518,956 348,596
PEO revenues (A) 26 7,82 1 234,584 209,874
Total revenues 7,004,263 6,853,652 6,168,432
Operating expenses 2,970,645 2,900,124 2,564,496
General, administrative and selling expenses 1,606,690 1,665,447 1,643,360
Systems development and programming costs 47 4,84 3 514,279 460,275
Depreciation and amortization 27 9,07 7 320,856 284,282
Other (income) expense (113,962) (72,064) (73,581)
5,217,293 5,328,642 4,878,832
Earnings before income taxes 1,786,970 1,525,010 1,289,600
Provision for income taxes 68 6,20 0 600,290 448,800
Net earnings $1 ,100,77 0 $ 924,720 $ 840,800
Basic earnings per share $ 1.78 $ 1.47 $ 1.34
Diluted earnings per share $ 1.75 $ 1.44 $ 1.31
Basic shares outstanding 61 8,85 7 629,035 626,766
Diluted shares outstanding 63 0,57 9 645,989 646,098
(A) Net of pass-through costs of $2,648,321, $2,446,768, and $2,197,323, respectively.
See notes to consolidated financial statements.