Paychex 2011 Annual Report Download - page 77

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During fiscal years 2011, 2010, and 2009, the Company purchased approximately $0.4 million, $0.4 million,
and $0.5 million, respectively, of services from Dun & Bradstreet Corporation. Jonathan J. Judge, the Company’s
former President and Chief Executive Officer and former director, is a member of the Board of Directors of Dun &
Bradstreet Corporation.
Note O — Quarterly Financial Data (Unaudited)
In millions, except per share amounts
Fiscal 2011 August 31 November 30 February 28 May 31 Full Year
Three Months Ended
Service revenue......................... $506.2 $500.0 $519.6 $510.4 $2,036.2
Interest on funds held for clients ............ 12.1 12.0 11.7 12.3 48.1
Total revenue .......................... 518.3 512.0 531.3 522.7 2,084.3
Operating income ....................... 200.8 203.9 198.9 182.8 786.4
Investment income, net ................... 1.4 1.5 1.5 1.4 5.8
Income before income taxes ............... 202.2 205.4 200.4 184.2 792.2
Income taxes........................... 70.3 71.5 69.8 65.3 276.9
Net income ............................ $131.9 $133.9 $130.6 $118.9 $ 515.3
Basic earnings per share
(1)
................. $ 0.36 $ 0.37 $ 0.36 $ 0.33 $ 1.42
Diluted earnings per share
(1)
............... $ 0.36 $ 0.37 $ 0.36 $ 0.33 $ 1.42
Weighted-average common shares outstanding . . 361.6 361.7 361.8 362.0 361.8
Weighted-average common shares outstanding,
assuming dilution ..................... 362.0 362.1 362.6 363.0 362.4
Cash dividends per common share ........... $ 0.31 $ 0.31 $ 0.31 $ 0.31 $ 1.24
Total net realized gains
(2)
................. $ 0.1 $ 0.2 $ 0.1 $ 0.9 $ 1.3
61
PAYCHEX, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)