Paychex 2012 Annual Report Download - page 88

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PAYCHEX, INC.
ELEVEN-YEAR SUMMARY OF SELECTED FINANCIAL DATA
In millions, except per share amounts
Year ended May 31, 2012 2011 2010 2009 2008
Results of operations
Revenue:
Service revenue ........................... $2,186.2 $2,036.2 $1,945.8 $2,007.3 $1,934.5
Interest on funds held for clients .............. 43.6 48.1 55.0 75.5 131.8
Total revenue ............................. 2,229.8 2,084.3 2,000.8 2,082.8 2,066.3
Total expenses .............................. 1,375.9 1,297.9 1,276.0 1,277.6 1,238.0
Operating income ........................... $ 853.9 $ 786.4 $ 724.8 $ 805.2 $ 828.3
As a % of total revenue ..................... 38% 38% 36% 39% 40%
Investment income, net ....................... $ 6.4 $ 5.8 $ 4.5 $ 6.9 $ 26.5
Income before income taxes ................... $ 860.3 $ 792.2 $ 729.3 $ 812.1 $ 854.8
As a % of total revenue ..................... 39% 38% 36% 39% 41%
Net income ................................ $ 548.0 $ 515.3 $ 477.0 $ 533.5 $ 576.1
As a % of total revenue ..................... 25% 25% 24% 26% 28%
Basic earnings per share ...................... $ 1.51 $ 1.42 $ 1.32 $ 1.48 $ 1.56
Diluted earnings per share ..................... $ 1.51 $ 1.42 $ 1.32 $ 1.48 $ 1.56
Weighted-average common shares outstanding .... 362.4 361.8 361.4 360.8 368.4
Weighted-average common shares outstanding,
assuming dilution ......................... 363.0 362.4 361.7 361.0 369.5
Cash dividends per common share .............. $ 1.27 $ 1.24 $ 1.24 $ 1.24 $ 1.20
Selected financial data
Purchases of property and equipment ............ $ 89.6 $ 100.5 $ 61.3 $ 64.7 $ 82.3
Cash and total corporate investments ............ $ 790.0 $ 671.3 $ 656.9 $ 574.7 $ 434.8
Total assets ................................ $6,479.6 $5,393.8 $5,226.3 $5,127.4 $5,309.8
Total debt .................................. $ — $ — $ — $ — $ —
Stockholders’ equity ......................... $1,604.5 $1,496.2 $1,402.0 $1,341.4 $1,196.6
Return on stockholders’ equity ................. 34% 35% 34% 41% 39%