ADP 2011 Annual Report Download - page 23

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Net earnings from continuing operations, as adjusted, decreased $10.0 million to $1,195.1 million for fiscal 2010, from $1,205.1 million
for fiscal 2009, and the related diluted earnings per share from continuing operations, as adjusted, decreased $0.01 to $2.37. The
decrease in net earnings from continuing operations, as adjusted, for fiscal 2010 reflects the decrease in earnings from continuing
operations before income taxes. The decrease in diluted earnings per share from continuing operations, as adjusted, for fiscal 2010
reflects the decrease in net earnings from continuing operations, partially offset by the impact of fewer shares outstanding due to the
repurchase of approximately 18.2 million shares during fiscal 2010 and the repurchase of 13.8 million shares in fiscal 2009.
ANALYSIS OF REPORTABLE SEGMENTS
Revenues
23
Year ended June 30, 2010
Diluted EPS
Earnings from
Net earnings from
from
continuing operations
Provision for
continuing
continuing
before income taxes
income taxes
operations
operations
As Reported
$
1,863.2
$
655.9
$
1,207.3
$
2.40
Adjustments:
Favorable tax items
-
12.2
12.2
0.02
As Adjusted
$
1,863.2
$
668.1
$
1,195.1
$
2.37
Year ended June 30, 2009
Diluted EPS
Earnings from
Net earnings from
from
continuing operations
Provision for
continuing
continuing
before income taxes
income taxes
operations
operations
As Reported
$
1,900.1
$
575.0
$
1,325.1
$
2.62
Adjustments:
Favorable tax items
-
120.0
120.0
0.24
As Adjusted
$
1,900.1
$
695.0
$
1,205.1
$
2.38
(Dollars in millions)
Years ended June 30,
$ Change
% Change
2011
2010
2009
2011
2010
2011
2010
Employer Services
$
6,861.7
$
6,376.7
$
6,378.6
$
485.0
$
(1.9
)
8
%
0
%
PEO Services
1,543.9
1,316.8
1,185.8
227.1
131.0
17
%
11
%
Dealer Services
1,494.4
1,205.9
1,242.1
288.5
(36.2
)
24
%
(3
)%
Other
12.9
18.4
19.5
(5.5
)
(1.1
)
Reconciling items:
Foreign exchange
179.5
146.6
78.7
Client funds interest
(212.9
)
(136.7
)
(66.3
)
Total revenues
$
9,879.5
$
8,927.7
$
8,838.4
$
951.8
$
89.3
11
%
1
%