ADP 2011 Annual Report Download - page 53

Download and view the complete annual report

Please find page 53 of the 2011 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 91

  • 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
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91

The Company
’
s receivables, whose carrying value approximates fair value, are as follows:
Long
-
term receivables at June 30, 2011 mature as follows:
The Company determines the allowance for doubtful accounts related to notes receivable based upon a specific reserve for known
collection issues, as well as a non
-
specific reserve based upon aging, both of which are based upon history of such losses and
current economic conditions. Based upon our methodology, the notes receivable balances with specific and non
-
specific reserves
and the specific and non
-
specific reserves associated with those balances are as follows:
53
June 30, 2011
June 30, 2010
Current
Long
-
term
Current
Long
-
term
Trade receivables
$
1,333.2
$
-
$
1,076.3
$
-
Notes receivable
90.5
146.4
110.3
155.0
Less:
Allowance for doubtful accounts
-
trade receivables
(44.8
)
-
(39.6
)
-
Allowance for doubtful accounts
-
notes receivable
(5.7
)
(9.4
)
(9.4
)
(16.1
)
Unearned income
-
notes receivable
(8.4
)
(8.3
)
(9.9
)
(9.5
)
Total
$
1,364.8
$
128.7
$
1,127.7
$
129.4
2013
$ 67.5
2014
45.4
2015
24.5
2016
9.0
2017
-
$ 146.4
June 30, 2011
Notes Receivable
Reserve
Current
Long
-
term
Current
Long
-
term
Specific Reserve
$
0.6
$
0.9
$
0.6
$
0.9
Non
-
specific Reserve
89.9
145.5
5.1
8.5
Total
$
90.5
$
146.4
$
5.7
$
9.4
June 30, 2010
Notes Receivable
Reserve
Current
Long
-
term
Current
Long
-
term
Specific Reserve
$
3.8
$
6.6
$
3.8
$
6.6
Non
-
specific Reserve
106.5
148.4
5.6
9.5
Total
$
110.3
$
155.0
$
9.4
$
16.1