ADP 2003 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2003 ADP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 44

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44

ADP 2003 Annual Report 25
Consolidated Balance Sheets Automatic Data Processing, Inc. and Subsidiaries
(In thousands, except per share amounts)
June 30, 2003 2002
Assets
Current assets:
Cash and cash equivalents $ 1,410,218 $ 798,810
Short-term marketable securities 595,166 677,005
Accounts receivable, net 1,005,833 1,045,170
Other current assets 664,284 296,272
Total current assets 3,675,501 2,817,257
Long-term marketable securities 338,959 1,273,768
Long-term receivables 180,354 192,769
Property, plant and equipment:
Land and buildings 477,682 458,478
Data processing equipment 780,044 696,829
Furniture, leaseholds and other 603,451 540,217
1,861,177 1,695,524
Less accumulated depreciation (1,246,476) (1,099,073)
614,701 596,451
Other assets 565,385 293,808
Goodwill 1,981,131 1,375,654
Intangible assets, net 669,891 501,544
Total assets before funds held for clients 8,025,922 7,051,251
Funds held for clients 11,807,749 11,225,271
Total assets $19,833,671 $18,276,522
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $ 173,988 $ 148,694
Accrued expenses and other current liabilities 1,609,665 1,035,389
Income taxes payable 215,130 227,019
Total current liabilities 1,998,783 1,411,102
Long-term debt 84,674 90,648
Other liabilities 270,267 233,671
Deferred income taxes 320,796 237,633
Deferred revenues 338,763 138,893
Total liabilities before client funds obligations 3,013,283 2,111,947
Client funds obligations 11,448,915 11,050,370
Total liabilities 14,462,198 13,162,317
Shareholders’ 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, 2003 and 2002 63,870 63,870
Capital in excess of par value 211,339 333,371
Retained earnings 6,710,863 5,977,318
Treasury stock - at cost: 43,863 and 22,385 shares, respectively (1,773,418) (1,142,041)
Accumulated other comprehensive income (loss) 158,819 (118,313)
Total shareholders’ equity 5,371,473 5,114,205
Total liabilities and shareholders’ equity $19,833,671 $18,276,522
See notes to consolidated financial statements.