ADP 2001 Annual Report Download - page 26

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24
Statements of Consolidated Earnings Automatic Data Processing, Inc. and Subsidiaries
(In thousands, except per share amounts)
Years ended June 30, 2001 2000 1999
Revenues other than interest on funds held for clients
and PEO revenues $6,264,030 $5,729,042 $5,110,262
Interest on funds held for clients 518,956 348,596 269,496
PEO revenues (A) 234,584 209,874 160,383
Total revenues 7,017,570 6,287,512 5,540,141
Operating expenses 2,900,124 2,564,496 2,376,172
General, administrative and selling expenses 1,665,447 1,643,360 1,379,026
Systems development and programming costs 514,279 460,275 412,380
Depreciation and amortization 320,856 284,282 272,807
Interest expense 14,260 13,140 19,090
Realized (gains)/losses on investments 77,594 32,359 (3,834)
5,492,560 4,997,912 4,455,641
Earnings before income taxes 1,525,010 1,289,600 1,084,500
Provision for income taxes 600,290 448,800 387,660
Net earnings $ 924,720 $ 840,800 $ 696,840
Basic earnings per share $1.47 $ 1.34 $ 1.13
Diluted earnings per share $1.44 $ 1.31 $ 1.10
Basic shares outstanding 629,035 626,766 615,630
Diluted shares outstanding 645,989 646,098 636,892
(A) Net of pass-through costs of $2,446,768, $2,197,323, and $1,748,841 respectively.
See notes to consolidated financial statements.