ADP 2005 Annual Report Download - page 31

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29
AUTOMATIC DATA PROCESSING, INC. AND SUBSIDIARIES
See notes to consolidated financial statements.
Consolidated Balance Sheets
(In millions, except per share amounts)
June 30, 2005 2004
Assets
Current assets:
Cash and cash equivalents $ 975.4 $ 713.0
Short-term marketable securities (includes $204.7 of segregated
securities deposited with clearing organizations or segregated for
regulatory purposes at June 30, 2005) 695.8 416.0
Accounts receivable, net 1,207.2 1,058.0
Securities clearing receivables 965.2 —
Other current assets 597.5 574.6
Total current assets 4,441.1 2,761.6
Long-term marketable securities 447.9 963.5
Long-term receivables, net 186.9 196.8
Property, plant and equipment, net 684.8 642.4
Other assets 813.9 720.9
Goodwill 2,408.5 2,195.5
Intangible assets, net 734.8 736.3
Total assets before funds held for clients 9,717.9 8,217.0
Funds held for clients 17,897.5 12,903.6
Total assets $27,615.4 $21,120.6
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 224.1 $ 175.2
Accrued expenses and other current liabilities 1,616.0 1,482.7
Securities clearing payables 745.2 —
Income taxes payable 215.4 110.5
Total current liabilities 2,800.7 1,768.4
Long-term debt 75.8 76.2
Other liabilities 342.7 319.5
Deferred income taxes 290.5 283.8
Deferred revenues 462.7 414.8
Total liabilities before client funds obligations 3,972.4 2,862.7
Client funds obligations 17,859.2 12,840.2
Total liabilities 21,831.6 15,702.9
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, 2005 and 2004 63.9 63.9
Capital in excess of par value —96.6
Deferred compensation (13.3) (17.0)
Retained earnings 7,966.0 7,326.9
Treasury stock — at cost: 58.5 and 51.6 shares, respectively (2,246.8) (2,033.2)
Accumulated other comprehensive income (loss) 14.0 (19.5)
Total stockholders’ equity 5,783.8 5,417.7
Total liabilities and stockholders’ equity $27,615.4 $21,120.6