ADP 2004 Annual Report Download - page 33

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31
Automatic Data Processing, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except per share amounts)
June 30, 2004 2003
Assets
Current assets:
Cash and cash equivalents $ 712,998 $ 1,410,218
Short-term marketable securities 416,077 595,166
Accounts receivable, net 1,057,938 1,005,833
Other current assets 574,576 664,284
Total current assets 2,761,589 3,675,501
Long-term marketable securities 963,501 338,959
Long-term receivables 196,828 180,354
Property, plant and equipment:
Land and buildings 518,134 477,682
Data processing equipment 778,388 780,044
Furniture, leaseholds and other 594,658 603,451
1,891,180 1,861,177
Less accumulated depreciation (1,248,827) (1,246,476)
642,353 614,701
Other assets 720,936 565,385
Goodwill 2,195,539 1,981,131
Intangible assets, net 736,281 669,891
Total assets before funds held for clients 8,217,027 8,025,922
Funds held for clients 12,903,532 11,807,749
Total assets $21,120,559 $19,833,671
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 175,175 $ 173,988
Accrued expenses and other current liabilities 1,482,703 1,609,665
Income taxes payable 110,546 215,130
Total current liabilities 1,768,424 1,998,783
Long-term debt 76,200 84,674
Other liabilities 319,495 270,267
Deferred income taxes 283,781 320,796
Deferred revenues 414,764 338,763
Total liabilities before client funds obligations 2,862,664 3,013,283
Client funds obligations 12,840,225 11,448,915
Total liabilities 15,702,889 14,462,198
Stockholders’ equity:
Preferred stock, $1.00 par value: Authorized, 300 shares; issued, none ——
Common stock, $.10 par value: Authorized, 1,000,000 shares; issued,
638,702 shares at June 30, 2004 and 2003 63,870 63,870
Capital in excess of par value 79,646 211,339
Retained earnings 7,326,918 6,710,863
Treasury stock – at cost: 51,587 and 43,863 shares, respectively (2,033,254) (1,773,418)
Accumulated other comprehensive (loss) income (19,510) 158,819
Total stockholders’ equity 5,417,670 5,371,473
Total liabilities and stockholders’ equity $21,120,559 $19,833,671
See notes to consolidated financial statements.