ADP 2009 Annual Report Download - page 45

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On April 13, 2006, the Company completed the sale of its Claims Services business to Solera, Inc. In fiscal 2007, the Company received an
additional payment of $13.2 million, or $12.6 million after tax, from Solera, Inc., which represented the final purchase price adjustment for the
sale of the Claims Services business. The Company reported the final purchase price adjustment within earnings from discontinued operations
on the Statements of Consolidated Earnings. The Claims Services business was a separate operating segment of the Company and was reported
in the “Other” segment. In connection with the disposal of this business, the Company classified the results of operations of this business as
discontinued operations for all periods presented.
Operating results for all discontinued operations were as follows:
There were no assets or liabilities of discontinued operations as of June 30, 2009 or 2008.
45
Years ended June 30, 2009 2008 2007
Revenues $ - $ - $ 1,518.7
Earnings from discontinued operations before income taxes - - 201.4
Provision for income taxes - - 104.8
N
et earnings from discontinued operations before gain
on disposal of discontinued operations - - 96.6
Gain on disposal of discontinued operations, net of
(benefit) provision for income taxes of $(0.8), $23.2 and
$5.8 for fiscal 2009, 2008 and 2007, respectively 4.4 74.0 20.9
N
et earnings from discontinued operations $ 4.4 $ 74.0 $ 117.5