ADP 2008 Annual Report Download - page 35

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Consolidated Balance Sheets
(In millions, except per share amounts)
(A) As of June 30, 2008, long-term marketable securities include $11.7 of securities that have been pledged as collateral under the Company’ s
reverse repurchase agreement (see Note 10).
See notes to consolidated financial statements.
35
June 30, 2008 2007
Assets
Current assets:
Cash and cash equivalents $917.5 $1,746.1
Short-term marketable securities 666.3 70.4
Accounts receivable, net 1,034.6 1,041.9
Other current assets 771.6 448.1
Assets of discontinued operations - 57.7
Total current assets before funds held for clients 3,390.0 3,364.2
Funds held for clients 15,418.9 18,489.2
Total current assets 18,808.9 21,853.4
Long-term marketable securities (A) 76.5 68.1
Long-term receivables, net 234.0 226.5
Property, plant and equipment, net 742.9 723.8
Other assets 808.3 735.5
Goodwill 2,426.7 2,353.6
Intangible assets, net 637.1 688.0
Total assets $23,734.4 $26,648.9
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $126.9 $125.9
Accrued expenses and other current liabilities 668.1 703.4
Accrued payroll and payroll related expenses 479.4 402.6
Dividends payable 145.7 122.0
Short-term deferred revenues 356.1 299.1
Obligation under reverse repurchase agreement 11.8 -
Income taxes payable 258.9 118.7
Liabilities of discontinued operations - 19.1
Total current liabilities before client funds obligations 2,046.9 1,790.8
Client funds obligations 15,294.7 18,673.0
Total current liabilities 17,341.6 20,463.8
Long-term debt 52.1 43.5
Other liabilities 587.9 390.5
Deferred income taxes 170.0 127.7
Long-term deferred revenues 495.6 475.5
Total liabilities 18,647.2 21,501.0
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none - -
Common stock, $0.10 par value: Authorized, 1,000.0 shares; issued, 638.7 shares at June 30, 2008 and 2007;
outstanding, 510.3 and 535.8 shares at June 30, 2008 and 2007, respectively 63.9 63.9
Capital in excess of par value 522.0 351.8
Retained earnings 10,029.8 9,378.5
Treasury stock - at cost: 128.4 and 102.9 shares at June 30, 2008 and 2007, respectively (5,804.7) (4,612.9)
Accumulated other comprehensive income (loss) 276.2 (33.4)
Total stockholders' equity 5,087.2 5,147.9
Total liabilities and stockholders' equity $23,734.4 $26,648.9