ADP 2014 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2014 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 98

  • 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
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

NOTE 3. OTHER INCOME, NET
Other income, net consists of the following:
Y ears ended June 30,
2015
2014
2013
Interest income on corporate funds
$ (56.9)
$ (53.7)
$ (62.9)
Realized gains on available-for-sale securities
(6.8)
(20.4)
(32.1)
Realized losses on available-for-sale securities
1.9
3.9
3.5
Gains on sales of buildings
—
—
(2.2)
Gain on sale of notes receivable
(1.4)
—
—
Other, net
—
—
(0.7)
Other income, net
$ (63.2)
$ (70.2)
$ (94.4)
During fiscal 2015, the Company sold notes receivable related to Dealer Services financing arrangements for a gain of $1.4 million . Refer to Note 5 for further
information.
During fiscal 2013, the Company completed the sale of two buildings that were previously classified as assets held for sale on the Consolidated Balance Sheets
and, as a result, recorded gains of $2.2 million in other income, net, on the Statements of Consolidated Earnings.
NOTE 4. CORPORATE INVESTMENTS AND FUNDS HELD FOR CLIENTS
Corporate investments and funds held for clients at June 30, 2015 and 2014 were as follows:
June 30, 2015
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair V alue (A )
Type of issue:
Money market securities and other cash equivalents $ 5,686.3
$ —
$ —
$ 5,686.3
Available-for-sale securities:
Corporate bonds 9,497.5
115.7
(29.6)
9,583.6
U.S. Treasury and direct obligations of
U.S. government agencies 5,764.3
64.6
(9.8)
5,819.1
Asset-backed securities 2,442.4
11.1
(6.1)
2,447.4
Canadian government obligations and
Canadian government agency obligations 923.2
15.4
(0.2)
938.4
Canadian provincial bonds 723.9
27.9
(0.8)
751.0
Municipal bonds 586.6
14.3
(1.4)
599.5
Other securities 719.4
16.1
(0.7)
734.8
Total available-for-sale securities 20,657.3
265.1
(48.6)
20,873.8
Total corporate investments and funds held for clients $ 26,343.6
$ 265.1
$ (48.6)
$ 26,560.1
(A) Included within available-for-sale securities are corporate investments with fair values of $55.5 million and funds held for clients with fair values of $20,818.3
million . All available-for-sale securities were included in Level 2.
50