AUTOMATIC DATA PROCESSING INC, 10-K filed on 8/19/2013
Annual Report
Document And Entity Information (USD $)
12 Months Ended
Jun. 30, 2013
Aug. 9, 2013
Document And Entity Information [Abstract]
 
 
Document Type
10-K 
 
Entity Public Float
$ 27,560,939,417 
 
Entity Voluntary Filers
No 
 
Entity Current Reporting Status
Yes 
 
Entity Well-known Seasoned Issuer
Yes 
 
Amendment Flag
false 
 
Document Period End Date
Jun. 30, 2013 
 
Entity Registrant Name
AUTOMATIC DATA PROCESSING INC 
 
Entity Central Index Key
0000008670 
 
Current Fiscal Year End Date
--06-30 
 
Document Fiscal Year Focus
2013 
 
Document Fiscal Period Focus
FY 
 
Entity Filer Category
Large Accelerated Filer 
 
Entity Common Stock, Shares Outstanding
 
482,823,076 
Statements Of Consolidated Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
REVENUES:
 
 
 
Revenues, other than interest on funds held for clients and PEO revenues
$ 8,928.5 
$ 8,362.5 
$ 7,759.0 
Interest on funds held for clients
420.9 
493.3 
540.1 
PEO revenues
1,960.7 1
1,760.2 1
1,533.9 1
TOTAL REVENUES
11,310.1 
10,616.0 
9,833.0 
EXPENSES:
 
 
 
Operating expenses
5,742.4 
5,365.2 
4,888.6 
Systems development and programming costs
654.3 
592.7 
570.0 
Depreciation and amortization
252.9 
256.4 
249.8 
TOTAL COSTS OF REVENUES
6,649.6 
6,214.3 
5,708.4 
Selling, general and administrative expenses
2,620.6 
2,456.9 
2,314.6 
Goodwill impairment
42.7 
0 
0 
Interest expense
9.1 
7.7 
8.6 
TOTAL EXPENSES
9,322.0 
8,678.9 
8,031.6 
Other income, net
(96.2)
(170.8)
(116.6)
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
2,084.3 
2,107.9 
1,918.0 
Provision for income taxes
720.2 
728.2 
673.0 
NET EARNINGS FROM CONTINUING OPERATIONS
1,364.1 
1,379.7 
1,245.0 
EARNINGS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES
66.8 
14.2 
14.7 
Provision for Income Taxes
25.1 
5.4 
5.5 
NET EARNINGS FROM DISCONTINUED OPERATIONS
41.7 
8.8 
9.2 
NET EARNINGS
$ 1,405.8 
$ 1,388.5 
$ 1,254.2 
Basic Earnings Per Share from Continuing Operations
$ 2.83 
$ 2.83 
$ 2.52 
Basic Earnings Per Share from Discontinued Operations
$ 0.09 
$ 0.02 
$ 0.02 
BASIC EARNINGS PER SHARE
$ 2.91 
$ 2.85 
$ 2.54 
Diluted Earnings Per Share from Continuing Operations
$ 2.80 
$ 2.80 
$ 2.50 
Diluted Earnings Per Share from Discontinued Operations
$ 0.09 
$ 0.02 
$ 0.02 
DILUTED EARNINGS PER SHARE
$ 2.89 
$ 2.82 
$ 2.52 
Basic weighted average shares outstanding
482.7 
487.3 
493.5 
Diluted weighted average shares outstanding
487.1 
492.2 
498.3 
Statements Of Consolidated Earnings (Parenthetical) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Statement [Abstract]
 
 
 
Direct pass-through costs, Professional Employer Organization revenues
$ 19,956.2 
$ 17,792.2 
$ 15,765.3 
Statements of Consolidated Comprehensive Income (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Consolidated Statement of Comprehensive Income [Abstract]
 
 
 
NET EARNINGS
$ 1,405.8 
$ 1,388.5 
$ 1,254.2 
Other comprensive income:
 
 
 
Currency translation adjustments
(2.4)
(141.1)
166.7 
Unrealized net (losses)/gains on available-for-sale securities
(394.6)
158.1 
(104.6)
Tax Effect
138.5 
(54.4)
38.8 
Reclassification of net (gains) on available-for-sale securities to net earnings
(28.6)
(18.6)
(35.3)
Tax effect
10.1 
6.4 
13.1 
Pension net gains/(losses) arisign during the period
68.2 
(149.7)
108.6 
Tax Effect
(25.7)
52.3 
(42.4)
Reclassification of pension liability adjustment to net earnings
31.7 
15.5 
20.8 
Tax effect
(12.0)
(5.4)
(8.1)
Other Comprehensive (loss)/income, net of tax
(214.8)
(136.9)
157.6 
Comprehensive income
$ 1,191.0 
$ 1,251.6 
$ 1,411.8 
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Assets
 
 
Cash and cash equivalents
$ 1,699.1 1
$ 1,548.1 
Short-term marketable securities
28.0 
30.4 
Accounts receivable, net
1,598.3 
1,391.7 
Other current assets
646.8 
631.6 
Assets held for sale
0 
6.7 
Assets of discontinued operations
0 
125.0 
Total current assets before funds held for clients
3,972.2 
3,733.5 
Funds held for clients
22,228.8 
21,539.1 
Total current assets
26,201.0 
25,272.6 
Long-term marketable securities
314.0 1
86.9 
Long-term receivables, net
138.7 
129.8 
Property, Plant and Equipment, Net
728.7 
706.3 
Other assets
1,189.9 
871.5 
Goodwill
3,052.6 
3,062.0 
Intangible assets, net
643.2 
688.3 
Total assets
32,268.1 
30,817.4 
Liabilities
 
 
Accounts payable
157.3 
167.4 
Accrued expenses and other current liabilities
1,178.6 
1,062.5 
Accrued payroll and payroll-related expenses
632.1 
597.0 
Dividends payable
206.7 
188.4 
Short-term deferred revenues
316.4 
312.9 
Obligations under reverse repurchase agreements
245.9 
0 
Income taxes payable
39.5 
39.3 
Liabilities of discontinued operations
0 
29.0 
Total current liabilities before client funds obligations
2,776.5 
2,396.5 
Client funds obligations
21,956.3 
20,856.2 
Total current liabilities
24,732.8 
23,252.7 
Long-term debt
14.7 
16.8 
Other liabilities
603.1 
585.9 
Deferred income taxes
234.4 
381.5 
Long-term deferred revenues
493.2 
466.5 
Total liabilities
26,078.2 
24,703.4 
Stockholders' equity:
 
 
Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none
0 
0 
Common stock, $0.10 par value: Authorized, 1,000.0 shares; issued 638.7 shares at June 30, 2013 and 2012; outstanding, 482.6 and 484.2 shares at June 30, 2013 and 2012, respectively
63.9 
63.9 
Capital in excess of par value
456.9 
486.4 
Retained earnings
13,020.3 
12,438.3 
Treasury stock - at cost: 156.1 and 154.5 shares at June 30, 2013 and 2012, respectively
(7,366.6)
(7,104.8)
Accumulated other comprehensive income
15.4 
230.2 
Total stockholders' equity
6,189.9 
6,114.0 
Total liabilities and stockholders' equity
$ 32,268.1 
$ 30,817.4 
Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Statement of Financial Position [Abstract]
 
 
Preferred stock, par value
$ 1.00 
$ 1.00 
Preferred stock, shares authorized
300,000 
300,000 
Preferred stock, shares issued
0 
0 
Common stock, par value
$ 0.10 
$ 0.10 
Common stock, shares authorized
1,000,000,000 
1,000,000,000 
Common stock, shares issued
638,700,000 
638,700,000 
Common stock, shares outstanding
482,600,000 
484,200,000 
Treasury stock, shares
156,100,000 
154,500,000 
Securities for Reverse Repurchase Agreements
$ 245.2 
 
Cash Collateral for Borrowed Securities
$ 0.7 
 
Statements of Stockholders' Equity Statement (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Other Comprehensive Income (Loss), Net of Tax
$ (214.8)
$ (136.9)
$ 157.6 
 
Common stock, shares issued
638,700,000 
638,700,000 
 
 
NET EARNINGS
1,405.8 
1,388.5 
1,254.2 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
15.4 
230.2 
367.1 
 
Common Stock [Member]
 
 
 
 
Common stock, shares issued
638,700,000 
638,700,000 
638,700,000 
638,700,000 
Stockholders' Equity, balance
63.9 
63.9 
63.9 
63.9 
Additional Paid-in Capital [Member]
 
 
 
 
Stockholders' Equity, balance
456.9 
486.4 
489.5 
493.0 
NET EARNINGS
0 
0 
0 
 
Stock Based Compensation Expense in Equity
79.2 
78.7 
76.3 
 
Issuance relating to stock compensation plans
(148.3)
(106.0)
(78.0)
 
Tax benefit from stock compensation plans
39.6 
24.2 
(1.8)
 
Treasury Stock, Acquired
0 
0 
0 
 
Dividends, Stock
0 
0 
0 
 
Retained Earnings [Member]
 
 
 
 
Stockholders' Equity, balance
13,020.3 
12,438.3 
11,803.9 
11,252.0 
NET EARNINGS
 
1,388.5 
1,254.2 
 
Stock Based Compensation Expense in Equity
0 
0 
0 
 
Issuance relating to stock compensation plans
0 
0 
0 
 
Tax benefit from stock compensation plans
0 
0 
0 
 
Treasury Stock, Acquired
0 
0 
0 
 
Dividends, Stock
(823.8)
(754.1)
(702.3)
 
Treasury Stock [Member]
 
 
 
 
Stockholders' Equity, balance
(7,366.6)
(7,104.8)
(6,714.0)
(6,539.5)
NET EARNINGS
0 
0 
0 
 
Stock Based Compensation Expense in Equity
0 
0 
0 
 
Issuance relating to stock compensation plans
384.7 
356.5 
558.3 
 
Tax benefit from stock compensation plans
0 
0 
0 
 
Treasury Stock, Acquired
(646.5)
(747.3)
(732.8)
 
Dividends, Stock
0 
0 
0 
 
Accumulated Other Comprehensive Income (Loss) [Member]
 
 
 
 
Other Comprehensive Income (Loss), Net of Tax
(214.8)
(136.9)
157.6 
 
NET EARNINGS
0 
0 
0 
 
Stock Based Compensation Expense in Equity
0 
0 
0 
 
Issuance relating to stock compensation plans
0 
0 
0 
 
Tax benefit from stock compensation plans
0 
0 
0 
 
Treasury Stock, Acquired
0 
0 
0 
 
Dividends, Stock
0 
0 
0 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
$ 15.4 
$ 230.2 
$ 367.1 
$ 209.5 
Statements of Stockholders' Equity Statements of Stockholders' Equity (Parenthetical) (USD $)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Statement of Stockholders' Equity [Abstract]
 
 
 
Treasury Stock, Shares, Acquired
10.4 
14.6 
14.2 
Common Stock, Dividends, Per Share, Declared
$ 1.70 
$ 1.55 
$ 1.42 
Statements Of Consolidated Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Statement of Cash Flows [Abstract]
 
 
 
NET EARNINGS
$ 1,405.8 
$ 1,388.5 
$ 1,254.2 
Adjustments to reconcile net earnings to cash flows provided by operating activities:
 
 
 
Depreciation and amortization
317.0 
319.7 
314.6 
Deferred income taxes
24.6 
35.9 
105.3 
Stock-based compensation expense
96.4 
94.1 
90.3 
Net pension expense
43.7 
36.7 
40.5 
Net realized gain from the sales of marketable securities
(28.6)
(24.4)
(34.4)
Net amortization of premiums and accretion of discounts on available-for-sale securities
79.3 
60.0 
53.6 
Impairment Losses on Available-for-sale Securities
0 
5.8 
0 
Impairment losses on assets held for sale
0 
2.2 
11.7 
Goodwill impairment
42.7 
0 
0 
Gain on sale of assets
0 
(66.0)
0 
Gain on sale of buildings
(2.2)
0 
(1.8)
Gain on sale of discontinued businesses, net of tax
(36.7)
0 
0 
Other
9.0 
15.1 
33.6 
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses:
 
 
 
(Increase)/decrease in accounts receivable
(217.0)
(38.5)
(137.3)
Increase in other assets
(283.5)
(71.7)
(82.1)
Decrease in accounts payable
(10.6)
11.0 
(24.6)
Decrease/(increase) in accrued expenses and other liabilities
135.9 
135.0 
77.4 
Operating activities of discontinued operations
1.4 
6.8 
4.8 
Net cash flows provided by operating activities
1,577.2 
1,910.2 
1,705.8 
Cash Flows from Investing Activities:
 
 
 
Purchases of corporate and client funds marketable securities
(4,902.6)
(5,113.5)
(4,770.9)
Proceeds from the sales and maturities of corporate and client funds marketable securities
3,638.6 
3,962.2 
3,305.1 
Net (increase)/decrease in restricted cash and cash equivalents held to satisfy client funds obligations
(161.0)
4,855.0 
(4,837.1)
Capital expenditures
(174.6)
(140.1)
(181.9)
Additions to intangibles
(108.3)
(109.5)
(95.8)
Acquisitions of businesses, net of cash acquired
(42.0)
(265.7)
(776.0)
Proceeds from the sale of property, plant, and equipment and other assets
10.0 
71.6 
13.1 
Investing activities of discontinued operations
(0.6)
0 
0 
Proceeds from Divestiture of Businesses
161.4 
0 
0 
Other
0.7 
(16.4)
2.9 
Net cash flows (used in) provided by investing activities
(1,578.4)
3,243.6 
(7,340.6)
Cash Flows from Financing Activities:
 
 
 
Net increase (decrease) in client funds obligations
1,138.5 
(3,726.6)
6,290.9 
Payments of debt
(17.5)
(2.0)
(5.7)
Repurchases of common stock
(647.3)
(741.3)
(732.8)
Proceeds from stock purchase plan and exercises of stock options
235.3 
250.0 
478.2 
Dividends paid
(805.5)
(739.7)
(692.4)
Net proceeds from reverse repurchase agreements
245.9 
0 
0 
Proceeds from (Payments for) Other Financing Activities
1.6 
5.7 
1.0 
Net cash flows provided by (used in) financing activities
151.0 
(4,953.9)
5,339.2 
Effect of exchange rate changes on cash and cash equivalents
1.2 
(41.2)
41.7 
Net change in cash and cash equivalents
151.0 
158.7 
(253.9)
Cash and cash equivalents of continuing operations, beginning of period
1,548.1 
1,389.4 
1,643.3 
Cash and cash equivalents of continuing operations, end of period
$ 1,699.1 1
$ 1,548.1 
$ 1,389.4 
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Notes)
Significant Accounting Policies

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Basis of Preparation. The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc. and its subsidiaries (“ADP” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Intercompany balances and transactions have been eliminated in consolidation.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the assets, liabilities, revenue, costs, expenses, and accumulated other comprehensive income that are reported in the Consolidated Financial Statements and footnotes thereto. Actual results may differ from those estimates.

B. Description of Business. The Company is a provider of technology-based outsourcing solutions to employers and vehicle retailers and manufacturers. The Company classifies its operations into the following reportable segments: Employer Services, Professional Employer Organization (“PEO”) Services, and Dealer Services. The primary components of the “Other” segment are the results of operations of ADP Indemnity (a wholly-owned captive insurance company that provides workers' compensation and employer's liability deductible reimbursement insurance protection for PEO Services worksite employees), non-recurring gains and losses, miscellaneous processing services, such as customer financing transactions, and certain charges and expenses that have not been allocated to the reportable segments, such as stock-based compensation expense and the goodwill impairment charge.

C. Revenue Recognition. Revenues are primarily attributable to fees for providing services (e.g., Employer Services' payroll processing fees) as well as investment income on payroll funds, payroll tax filing funds and other Employer Services' client-related funds. The Company enters into agreements for a fixed fee per transaction (e.g., number of payees or number of payrolls processed). Fees associated with services are recognized in the period services are rendered and earned under service arrangements with clients where service fees are fixed or determinable and collectability is reasonably assured. Service fees are determined based on written price quotations or service agreements having stipulated terms and conditions that do not require management to make any significant judgments or assumptions regarding any potential uncertainties.

Interest income on collected but not yet remitted funds held for clients is recognized in revenues as earned, as the collection, holding and remittance of these funds are critical components of providing these services.

The Company also recognizes revenues associated with the sale of software systems and associated software licenses (e.g., Dealer Services' dealer management systems). For a majority of our software sales arrangements, which provide hardware, software licenses, installation, and post-contract customer support, revenues are recognized ratably over the software license term, as vendor-specific objective evidence of the fair values of the individual elements in the sales arrangement does not exist.

The Company assesses the collectability of revenues based primarily on the creditworthiness of the customer as determined by credit checks and analysis, as well as the customer's payment history.

PEO revenues are reported on the Statements of Consolidated Earnings and are reported net of direct pass-through costs, which are costs billed and incurred for PEO Services worksite employees, primarily consisting of payroll wages and payroll taxes. Benefits, workers' compensation, and state unemployment tax fees for worksite employees are included in PEO revenues and the associated costs are included in operating expenses.

D. Cash and Cash Equivalents. Investment securities with a maturity of ninety days or less at the time of purchase are considered cash equivalents. The fair value of our cash and cash equivalents approximates carrying value.

E. Corporate Investments and Funds Held for Clients. All of the Company's marketable securities are considered to be “available-for-sale” and, accordingly, are carried on the Consolidated Balance Sheets at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income on the Consolidated Balance Sheets until realized. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis and are included in other income, net on the Statements of Consolidated Earnings.

If the fair value of an available-for-sale debt security is below its amortized cost, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery. If either of those two conditions were met, the Company would recognize a charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value. If the Company does not intend to sell a security or it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in accumulated other comprehensive income.

Premiums and discounts are amortized or accreted over the life of the related available-for-sale security as an adjustment to yield using the effective-interest method. Dividend and interest income are recognized when earned.
F. Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date and is based upon the Company’s principal or most advantageous market for a specific asset or liability.

U.S. GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows:

Level 1 Fair value is determined based upon quoted prices for identical assets or liabilities that are traded in active markets.

Level 2 Fair value is determined based upon inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
· quoted prices for similar assets or liabilities in active markets;
· quoted prices for identical or similar assets or liabilities in markets that are not active;
· inputs other than quoted prices that are observable for the asset or liability; or
· inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Fair value is determined based upon inputs that are unobservable and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based upon the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).

Available-for-sale securities included in Level 1 are valued using closing prices for identical instruments that are traded on active exchanges. Over 99% of the Company's available-for-sale securities included in Level 2 are valued utilizing inputs obtained from an independent pricing service. To determine the fair value of the Company's Level 2 investments, a variety of inputs are utilized, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, new issue data, and monthly payment information. The Company reviews the values generated by the independent pricing service for reasonableness by comparing the valuations received from the independent pricing service to valuations from at least one other observable source. The Company has not adjusted the prices obtained from the independent pricing service. The Company has no available-for-sale securities included in Level 3.

The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy. In certain instances, the inputs used to measure fair value may meet the definition of more than one level of the fair value hierarchy. The significant input with the lowest level priority is used to determine the applicable level in the fair value hierarchy.

G. Long-term Receivables. Long-term receivables relate to notes receivable from the sale of computer systems, primarily to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers. Unearned income from finance receivables represents the excess of gross receivables over the sales price of the computer systems financed. Unearned income is amortized using the effective-interest method to maintain a constant rate of return over the term of each contract.
Notes receivable aged over 30 days past due are considered delinquent and notes receivable aged over 60 days past due with known collection issues are placed on non-accrual status. Interest revenue is not recognized on notes receivable while on non-accrual status.  Cash payments received on non-accrual receivables are applied towards the principal.  When notes receivable on non-accrual status are again less than 60 days past due, recognition of interest revenue for notes receivable is resumed.
The allowance for doubtful accounts on long-term receivables is the Company's best estimate of the amount of probable credit losses related to the Company's existing note receivables.
H. Property, Plant and Equipment. Property, plant and equipment is stated at cost and depreciated over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improvements. The estimated useful lives of assets are primarily as follows:
Data processing equipment
2 to 5 years
Buildings
20 to 40 years
Furniture and fixtures
3 to 7 years


I. Goodwill. Goodwill is not amortized, but is instead tested for impairment annually and whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company performs this impairment test by first comparing the fair value of each reporting units to its carrying amount. If the carrying value for a reporting unit exceeds its fair value, the Company would then compare the implied fair value of goodwill to the carrying amount in order to determine the amount of the impairment, if any. The Company determines the estimated fair value of its reporting units using an equal weighted blended approach, which combines the income approach, which is the present value of expected cash flows, discounted at a risk-adjusted weighted-average cost of capital; and the market approach, which is based on using market multiples of companies in similar lines of business. Significant assumptions used in determining the fair value of our reporting units include projected revenue growth rates, profitability projections, working capital assumptions, the weighted average cost of capital, the determination of appropriate market comparison companies, and terminal growth rates. The Company had $3,052.6 million of goodwill as of June 30, 2013. Based on the fair value analysis completed in the fourth quarter of 2013, the Company concluded that goodwill was not impaired for any reporting units with the exception of the ADP AdvancedMD reporting unit, for which an impairment charge of $42.7 million was recorded.
    
J. Impairment of Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.
K. Foreign Currency Translation. The net assets of the Company's foreign subsidiaries are translated into U.S. dollars based on exchange rates in effect for each period, and revenues and expenses are translated at average exchange rates in the periods. Gains or losses from balance sheet translation are included in accumulated other comprehensive income on the Consolidated Balance Sheets. Currency transaction gains or losses, which are included in the results of operations, are immaterial for all periods presented.

L. Foreign Currency Risk Management Programs and Derivative Financial Instruments. The Company transacts business in various foreign jurisdictions and is therefore exposed to market risk from changes in foreign currency exchange rates that could impact its consolidated results of operations, financial position, or cash flows.  The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments.  The Company does not use derivative financial instruments for trading purposes.  

Derivative financial instruments are measured at fair value and are recognized as assets or liabilities on the Consolidated Balance Sheets with changes in the fair value of the derivatives recognized in either net earnings from continuing operations or accumulated other comprehensive income, depending on the timing and designated purpose of the derivative.

There were no derivative financial instruments outstanding at June 30, 2013 or June 30, 2012.

M. Earnings per Share (“EPS”). The calculations of basic and diluted EPS are as follows:
Years ended June 30,
 
Basic
 
Effect of Employee Stock Option Shares
 
Effect of
Employee
Restricted
Stock
Shares
 
Diluted
 
 
 

 
 

 
 

 
 

2013
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,364.1

 
 

 
 

 
$
1,364.1

Weighted average shares (in millions)
 
482.7

 
3.3

 
1.1

 
487.1

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2012
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,379.7

 
 

 
 

 
$
1,379.7

Weighted average shares (in millions)
 
487.3

 
3.8

 
1.1

 
492.2

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2011
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,245.0

 
 

 
 

 
$
1,245.0

Weighted average shares (in millions)
 
493.5

 
3.8

 
1.0

 
498.3

EPS from continuing operations
 
$
2.52

 
 

 
 

 
$
2.50


Options to purchase 1.2 million, 0.9 million, and 0.9 million shares of common stock for the year ended June 30, 2013 ("fiscal 2013"), the year ended June 30, 2012 ("fiscal 2012"), and the year ended June 30, 2011 ("fiscal 2011"), respectively, were excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price of outstanding common shares for the respective periods.

N. Stock-Based Compensation. The Company recognizes stock-based compensation expense in net earnings based on the fair value of the award on the date of the grant. The Company determines the fair value of stock options issued using a binomial option-pricing model. The binomial option-pricing model considers a range of assumptions related to volatility, dividend yield, risk-free interest rate, and employee exercise behavior. Expected volatilities utilized in the binomial option-pricing model are based on a combination of implied market volatilities, historical volatility of the Company's stock price, and other factors. Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial option-pricing model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of a stock option grant is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.

O. Internal Use Software. Expenditures for major software purchases and software developed or obtained for internal use are capitalized and amortized over a three- to five-year period on a straight-line basis. The Company's policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. The Company also expenses internal costs related to minor upgrades and enhancements, as it is impractical to separate these costs from normal maintenance activities.

P. Computer Software to be Sold, Leased, or Otherwise Marketed. The Company capitalizes certain costs of computer software to be sold, leased, or otherwise marketed. The Company's policy provides for the capitalization of all software production costs upon reaching technological feasibility for a specific product. Technological feasibility is attained when software products have a completed working model whose consistency with the overall product design has been confirmed by testing. Costs incurred prior to the establishment of technological feasibility are expensed as incurred. The establishment of technological feasibility requires judgment by management and in many instances is only attained a short time prior to the general release of the software. Upon the general release of the software product to customers, capitalization ceases and such costs are amortized over a three-year period on a straight-line basis. Maintenance-related costs are expensed as incurred.

Q. Income Taxes. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity's financial statements or tax returns. The Company is subject to the continuous examination of our income tax returns by the Internal Revenue Service (“IRS”) and other tax authorities.

There is a financial statement recognition threshold and measurement attribute for tax positions taken or expected to be taken in a tax return. Specifically, the likelihood of an entity's tax benefits being sustained must be “more likely than not,” assuming that these positions will be examined by taxing authorities with full knowledge of all relevant information prior to recording the related tax benefit in the financial statements. If a tax position drops below the “more likely than not” standard, the benefit can no longer be recognized. Assumptions, judgment, and the use of estimates are required in determining if the “more likely than not” standard has been met when developing the provision for income taxes. As of June 30, 2013 and 2012, the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $70.7 million, and $84.7 million, respectively.

If certain pending tax matters settle within the next twelve months, the total amount of unrecognized tax benefits may increase or decrease for all open tax years and jurisdictions. Based on current estimates, settlements related to various jurisdictions and tax periods could increase earnings up to $15 million. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, the current tax liability, and deferred taxes in the period in which the facts that give rise to a revision become known.

R. Workers' Compensation Costs. The Company employs a third party actuary to assist in determining the estimated claim liability related to workers' compensation and employer's liability coverage for PEO Services worksite employees. In estimating ultimate loss rates, we utilize historical loss experience, exposure data, and actuarial judgment, together with a range of inputs which are primarily based upon the worksite employee's job responsibilities, their location, the historical frequency and severity of workers' compensation claims, and an estimate of future cost trends. For each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers' compensation claims cost estimates. The Company has secured specific per occurrence insurance that caps the exposure for each claim at $1 million per occurrence, and has also secured aggregate stop loss insurance that caps aggregate losses at a certain level in each policy year. Additionally, for fiscal 2013, the Company entered into a reinsurance arrangement to cover substantially all losses incurred by the Company for the fiscal 2013 policy year up to the $1 million per occurrence related to workers' compensation and employer's liability deductible reimbursement insurance protection for PEO services worksite employees.

S. Recently Issued Accounting Pronouncements. In July 2012, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income.” ASU 2011-05 requires entities to present net income and other comprehensive income in either a single continuous statement or in two separate, but consecutive, statements of net earnings and other comprehensive income. The Company has elected to present net earnings and other comprehensive income on two separate, but consecutive statements. The adoption of ASU 2011-05 did not have an impact on the Company’s consolidated results of operations, financial condition, or cash flows.

In July 2012, the Company adopted ASU 2011-08, “Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment.” ASU 2011-08 permits an entity to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is concluded that the fair value of a reporting unit is less than its carrying value based upon the qualitative assessment, it is necessary to perform the currently prescribed two-step goodwill impairment test. ASU 2011-08 does not change how goodwill is calculated or assigned to reporting units, nor does it revise the requirement to test goodwill annually for impairment. The adoption of ASU 2011-08 did not have an impact on the Company’s consolidated results of operations, financial condition, other comprehensive income, or cash flows.

In February 2013, the FASB issued ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.”  ASU 2013-02 requires entities to disclose the amount of income (loss) reclassified out of accumulated other comprehensive income to each respective line item on the income statement. The guidance allows companies to elect whether to disclose the reclassification either on the face of the income statement or in the notes to the financial statements, including cross-referencing other disclosures which provide additional details about these amounts.  ASU 2013-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The adoption of ASU 2013-02 will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
Other Income, net
Other Income, net
NOTE 2. OTHER INCOME, NET

Other income, net consists of the following:
Years ended June 30,
 
2013
 
2012
 
2011
Interest income on corporate funds
 
$
(64.5
)
 
$
(85.2
)
 
$
(88.8
)
Realized gains on available-for-sale securities
 
(32.1
)
 
(32.1
)
 
(38.0
)
Realized losses on available-for-sale securities
 
3.5

 
7.7

 
3.6

Impairment losses on available-for-sale securities
 
—

 
5.8

 
—

Impairment losses on assets held for sale
 
—

 
2.2

 
11.7

Gains on sales of buildings
 
(2.2
)
 
—

 
(1.8
)
Gain on sale of assets
 
—

 
(66.0
)
 
—

Other, net
 
(0.9
)
 
(3.2
)
 
(3.3
)
Other income, net
 
$
(96.2
)
 
$
(170.8
)
 
$
(116.6
)


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.

During fiscal 2012, the Company sold assets related to rights and obligations to resell a third-party expense management platform, and, as a result, recorded a gain of $66.0 million in other income, net, on the Statements of Consolidated Earnings.

During fiscal 2012, the Company completed the sale of two buildings for their combined carrying value of $6.9 million, net of selling costs. The Company had previously classified these assets as assets held for sale on the Consolidated Balance Sheets and recognized impairment losses within other income, net on the Statements of Consolidated Earnings of $2.2 million and $11.7 million in fiscal 2012 and 2011, respectively. During fiscal year 2011, the Company sold buildings that were previously classified as assets held for sale on the Consolidated Balance Sheets and, as a result, recorded net gains of $1.8 million, in other income, net on the Statements of Consolidated Earnings.
 
During fiscal 2012, the Company concluded that it had the intent to sell certain available-for-sale securities with unrealized losses of $5.8 million. As such, the Company recorded an impairment charge of $5.8 million in other income, net, on the Statements of Consolidated Earnings. As of June 30, 2012, all such securities had been sold.
Acquisitions
Acquisitions
NOTE 3. ACQUISITIONS

Assets acquired and liabilities assumed in business combinations were recorded on the Company’s Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates.  The results of operations of businesses acquired by the Company have been included in the Statements of Consolidated Earnings since their respective dates of acquisition.  The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed was allocated to goodwill.  In certain circumstances, the allocations of the excess purchase price are based upon preliminary estimates and assumptions and subject to revision when the Company receives final information, including appraisals and other analysis.  Accordingly, the measurement period for such purchase price allocations will end when the information, or the facts and circumstances, becomes available, but will not exceed twelve months.

The Company acquired two businesses during fiscal 2013 for approximately $40.4 million, net of cash acquired. These acquisitions resulted in approximately $29.5 million of goodwill. Intangible assets acquired, which total approximately $13.5 million for these two acquisitions, included customer contracts and lists and software that are being amortized over a weighted average life of approximately 8 years. As of June 30, 2013, the Company had not yet finalized the purchase price allocation for these two acquisitions.

The Company acquired seven businesses in fiscal 2012 for an aggregate purchase price of approximately $292.3 million, net of cash acquired. These acquisitions resulted in approximately $182.6 million of goodwill. Intangible assets acquired, which total approximately $90.0 million for these seven acquisitions, included customer contracts and lists, software, and trademarks that are being amortized over a weighted average life of approximately 11 years. The Company finalized the purchase price allocation for these seven acquisitions during fiscal 2013 and adjusted the preliminary values allocated to certain assets and liabilities in order to reflect final information received.

The Company acquired nine businesses in fiscal 2011 for approximately $776.1 million, net of cash acquired.  These acquisitions resulted in approximately $543.6 million of goodwill. Intangible assets acquired, which totaled approximately $246.4 million for these nine acquisitions, included customer contracts and lists, software and trademarks that are being amortized over a weighted average life of approximately 12 years.  The Company finalized the purchase price allocation for these nine acquisitions during fiscal 2012 and adjusted the preliminary values allocated to certain assets and liabilities in order to reflect final information received. 

The Company reviews estimates of the fair value of contingent consideration ("earn-out") expected to be paid in the event that certain performance metrics are achieved over an earn-out period and makes adjustments when facts and circumstances warrant. The Company made contingent payments relating to previously consummated acquisitions of $14.5 million, $2.8 million, and $0.8 million during fiscal 2013, 2012, and 2011.

The acquisitions discussed above for fiscal 2013, 2012, and 2011 were not material, either individually or in the aggregate, to the Company's operations, financial position, or cash flows.
Divestiture
Divestiture
NOTE 4. DIVESTITURES

On December 17, 2012, the Company completed the sale of its Taxware Enterprise Service business ("Taxware") for a pre-tax gain of $58.8 million, less costs to sell, and recorded such gain within earnings from discontinued operations on the Statements of Consolidated Earnings. In connection with the disposal of Taxware, the Company has classified the results of this business as discontinued operations for all periods presented. Taxware was previously reported in the Employer Services segment.

Operating results for discontinued operations were as follows:

Years ended June 30,
 
2013
 
2012
 
2011
Revenues
 
$
23.7

 
$
49.2

 
$
46.5

 
 
 
 
 
 
 
Earnings from discontinued operations before income taxes
 
8.0

 
14.2

 
14.7

Provision for income taxes
 
3.0

 
5.4

 
5.5

Net earnings from discontinued operations before gain on disposal of
discontinued operations
 
5.0

 
8.8

 
9.2

 
 
 
 
 
 
 
Gain on disposal of discontinued operations, less costs to sell
 
58.8

 
—

 
—

Provision for income taxes
 
22.1

 
—

 
—

Net gain on disposal of discontinued operations
 
36.7

 
—

 
—

 
 
 
 
 
 
 
Net earnings from discontinued operations
 
$
41.7

 
$
8.8

 
$
9.2



There were no assets or liabilities of discontinued operations as of June 30, 2013. The following are the major classes of assets and liabilities related to the discontinued operations as of June 30, 2012:
 
June 30, 2012
Assets:
 
Accounts receivable, net
$
7.6

Goodwill
93.3

Intangible assets, net
22.9

Other assets
1.2

 
 
Total assets
$
125.0

 
 
Liabilities:
 
Accounts payable
$
0.4

Accrued expenses and other current liabilities
0.1

Accrued payroll and payroll related expenses
2.3

Deferred revenues
22.7

Deferred income taxes
3.5

 
 
Total liabilities
$
29.0

Corporate Investments And Funds Held For Clients
Corporate Investments And Funds Held For Clients
NOTE 5. CORPORATE INVESTMENTS AND FUNDS HELD FOR CLIENTS

Corporate investments and funds held for clients at June 30, 2013 and 2012 were as follows:
 
 
June 30, 2013
 
Amortized
Cost
 
Gross
Unrealized
 Gains
 
Gross
Unrealized
Losses
 
 Fair Value (A)
Type of issue:
 
 
 
 
 
 
 
Money market securities and other cash equivalents
$
5,431.2

 
$
—

 
$
—

 
$
5,431.2

Available-for-sale securities:
 

 
 

 
 

 
 

Corporate bonds
7,868.3

 
166.2

 
(56.7
)
 
7,977.8

U.S. Treasury and direct obligations of
U.S. government agencies
5,983.7

 
152.6

 
(37.4
)
 
6,098.9

Asset-backed securities
1,374.1

 
5.3

 
(19.7
)
 
1,359.7

Canadian government obligations and
Canadian government agency obligations
998.2

 
10.7

 
(4.5
)
 
1,004.4

Canadian provincial bonds
695.7

 
20.7

 
(5.6
)
 
710.8

Municipal bonds
536.9

 
16.7

 
(4.4
)
 
549.2

Other securities
1,094.4

 
46.3

 
(2.8
)
 
1,137.9

 
 
 
 
 
 
 
 
Total available-for-sale securities
18,551.3

 
418.5

 
(131.1
)
 
18,838.7

 
 
 
 
 
 
 
 
Total corporate investments and funds held for clients
$
23,982.5

 
$
418.5

 
$
(131.1
)
 
$
24,269.9

 (A) Included within available-for-sale securities are corporate investments with fair values of $342.0 million and funds held for clients with fair values of $18,496.7 million. At June 30, 2013, Level 1 securities included $9.5 million of corporate investments classified within "Other securities," all remaining available-for-sale securities were included in Level 2.
 
June 30, 2012
 
Amortized 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value (B)
Type of issue:
 

 
 

 
 

 
 

Money market securities and other cash equivalents
$
5,111.1

 
$
—

 
$
—

 
$
5,111.1

Available-for-sale securities:
 

 
 

 
 

 
 

Corporate bonds
7,097.2

 
272.3

 
(1.5
)
 
7,368.0

U.S. Treasury and direct obligations of
U.S. government agencies
6,413.8

 
260.9

 
(0.1
)
 
6,674.6

Asset-backed securities
533.9

 
14.5

 
—

 
548.4

Canadian government obligations and
Canadian government agency obligations
994.2

 
23.4

 
(0.6
)
 
1,017.0

Canadian provincial bonds
620.8

 
35.4

 
(0.3
)
 
655.9

Municipal bonds
522.0

 
31.0

 
(0.1
)
 
552.9

Other securities
1,201.0

 
75.7

 
(0.1
)
 
1,276.6

 
 
 
 
 
 
 
 
Total available-for-sale securities
17,382.9

 
713.2

 
(2.7
)
 
18,093.4

 
 
 
 
 
 
 
 
Total corporate investments and funds held for clients
$
22,494.0

 
$
713.2

 
$
(2.7
)
 
$
23,204.5

(B) Included within available-for-sale securities are corporate investments with fair values of $117.3 million and funds held for clients with fair values of $17,976.1 million. At June 30, 2012, Level 1 securities included $20.6 million of corporate investments classified within "Other securities," all remaining available-for-sale securities were included in Level 2.

At June 30, 2013, Corporate bonds include investment-grade debt securities, which include a wide variety of issuers, industries, and sectors, primarily carry credit ratings of A and above, and have maturities ranging from July 2013 to June 2023. U.S. Treasury and direct obligations of U.S. government agencies primarily include debt directly issued by Federal Home Loan Banks and Federal Farm Credit Banks with fair values of $4,325.4 million and $1,229.0 million, respectively.  At June 30, 2012, U.S. Treasury and direct obligations of U. S. government agencies primarily include debt directly issued by Federal Home Loan Banks and Federal Farm Credit Banks with fair values of $4,189.1 million and $1,134.1 million, respectively.  U.S. Treasury and direct obligations of U.S. government agencies represent senior, unsecured, non-callable debt that primarily carries a credit rating of AAA, as rated by Moody's and AA+, as rated by Standard & Poor's and has maturities ranging from July 2013 through May 2023.

At June 30, 2013, asset-backed securities include AAA rated senior tranches of securities with predominately prime collateral of fixed rate credit card, auto loan, and rate reduction receivables with fair values of $904.5 million, $315.7 million, and $95.4 million, respectively.  At June 30, 2012, asset-backed securities include AAA rated senior tranches of securities with predominately prime collateral of fixed rate credit card, auto loan, and rate reduction receivables with fair values of $323.0 million, $85.1 million, and $140.0 million, respectively.  These securities are collateralized by the cash flows of the underlying pools of receivables.  The primary risk associated with these securities is the collection risk of the underlying receivables.  All collateral on such asset-backed securities has performed as expected through June 30, 2013.

At June 30, 2013, other securities and their fair value primarily represent: AA and AAA rated supranational bonds of $426.9 million, AA and AAA rated sovereign bonds of $415.4 million, AAA rated commercial mortgage-backed securities of $163.5 million, and AA rated mortgage-backed securities of $112.6 million that are guaranteed by Federal National Mortgage Association ("Fannie Mae") and Federal Home Loan Mortgage Corporation ("Freddie Mac"). At June 30, 2012, other securities and their fair value primarily represent: AAA rated supranational bonds of $427.7 million, AA and AAA rated sovereign bonds of $405.0 million, AAA rated commercial mortgage-backed securities of $282.3 million, and AA rated mortgage-backed securities of $135.3 million that are guaranteed by Fannie Mae and Freddie Mac. The Company's mortgage-backed securities represent an undivided beneficial ownership interest in a group or pool of one or more residential mortgages. These securities are collateralized by the cash flows of 15-year and 30-year residential mortgages and are guaranteed by Fannie Mae and Freddie Mac as to the timely payment of principal and interest.

Classification of corporate investments on the Consolidated Balance Sheets is as follows:
June 30,
 
2013
 
2012
Corporate investments:
 
 
 
 
Cash and cash equivalents
 
$
1,699.1

 
$
1,548.1

Short-term marketable securities
 
28.0

 
30.4

Long-term marketable securities
 
314.0

 
86.9

Total corporate investments
 
$
2,041.1

 
$
1,665.4


 
Funds held for clients represent assets that, based upon the Company's intent, are restricted for use solely for the purposes of satisfying the obligations to remit funds relating to the Company’s payroll and payroll tax filing services, which are classified as client funds obligations on our Consolidated Balance Sheets.

Funds held for clients have been invested in the following categories:
June 30,
 
2013
 
2012
Funds held for clients:
 
 
 
 
Restricted cash and cash equivalents held to satisfy client funds obligations
 
$
3,732.1

 
$
3,563.0

Restricted short-term marketable securities held to satisfy client funds obligations
 
1,407.7

 
2,954.1

Restricted long-term marketable securities held to satisfy client funds obligations
 
17,089.0

 
15,022.0

Total funds held for clients
 
$
22,228.8

 
$
21,539.1



Client funds obligations represent the Company's contractual obligations to remit funds to satisfy clients' payroll and tax payment obligations and are recorded on the Consolidated Balance Sheets at the time that the Company impounds funds from clients.  The client funds obligations represent liabilities that will be repaid within one year of the balance sheet date.  The Company has reported client funds obligations as a current liability on the Consolidated Balance Sheets totaling $21,956.3 million and $20,856.2 million as of June 30, 2013 and June 30, 2012, respectively.  The Company has classified funds held for clients as a current asset since these funds are held solely for the purposes of satisfying the client funds obligations.  The Company has reported the cash flows related to the purchases of corporate and client funds marketable securities and related to the proceeds from the sales and maturities of corporate and client funds marketable securities on a gross basis in the investing section of the Statements of Consolidated Cash Flows.  The Company has reported the cash inflows and outflows related to client funds investments with original maturities of 90 days or less on a net basis within net increase in restricted cash and cash equivalents and other restricted assets held to satisfy client funds obligations in the investing section of the Statements of Consolidated Cash Flows.  The Company has reported the cash flows related to the cash received from and paid on behalf of clients on a net basis within net increase in client funds obligations in the financing section of the Statements of Consolidated Cash Flows.

Approximately 83% of the available-for-sale securities held a AAA or AA rating at June 30, 2013, as rated by Moody's, Standard & Poor's and, for Canadian securities, Dominion Bond Rating Service.  All available-for-sale securities were rated as investment grade at June 30, 2013.

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2013, are as follows: 
 
Unrealized
losses
less than
12 months
 
Fair market
value less than
12 months
 
Unrealized
losses
greater than
12 months
 
Fair market
value greater
than 12 months
 
Total gross
unrealized
losses
 
Total fair
market value
Corporate bonds
$
(56.7
)
 
$
2,724.9

 
$
—

 
$
—

 
$
(56.7
)
 
$
2,724.9

U.S. Treasury and direct obligations of
U.S. government agencies
(37.4
)
 
1,374.6

 
—

 
—

 
(37.4
)
 
1,374.6

Asset-backed securities
(19.7
)
 
1,060.1

 
—

 
—

 
(19.7
)
 
1,060.1

Canadian government obligations and
Canadian government agency obligations
(4.5
)
 
444.7

 
—

 
—

 
(4.5
)
 
444.7

Canadian provincial bonds
(5.6
)
 
239.7

 
—

 
—

 
(5.6
)
 
239.7

Municipal bonds
(4.4
)
 
188.7

 
—

 
—

 
(4.4
)
 
188.7

Other securities
(2.8
)
 
109.3

 
—

 
—

 
(2.8
)
 
109.3

 
$
(131.1
)
 
$
6,142.0

 
$
—

 
$
—

 
$
(131.1
)
 
$
6,142.0


The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2012 are as follows: 
 
Unrealized
losses
less than
12 months
 
Fair market
value less than
12 months
 
Unrealized
losses
greater than
12 months
 
Fair market
value greater
than 12 months
 
Total gross
unrealized
losses
 
Total fair
market value
Corporate bonds
$
(1.1
)
 
$
234.8

 
$
(0.4
)
 
$
20.2

 
$
(1.5
)
 
$
255.0

U.S. Treasury and direct obligations of U.S. government agencies
(0.1
)
 
43.6

 
—

 
—

 
(0.1
)
 
43.6

Asset-backed securities
—

 
13.6

 
—

 
—

 
—

 
13.6

Canadian government obligations and
Canadian government agency obligations
(0.6
)
 
209.4

 
—

 
—

 
(0.6
)
 
209.4

Canadian provincial bonds
(0.3
)
 
58.5

 
—

 
—

 
(0.3
)
 
58.5

Municipal bonds
(0.1
)
 
22.8

 
—

 
—

 
(0.1
)
 
22.8

Other securities
(0.1
)
 
26.3

 
—

 
—

 
(0.1
)
 
26.3

 
$
(2.3
)
 
$
609.0

 
$
(0.4
)
 
$
20.2

 
$
(2.7
)
 
$
629.2


 
Expected maturities of available-for-sale securities at June 30, 2013 are as follows:
Due in one year or less
$
1,435.7

Due after one year to two years
3,470.9

Due after two years to three years
4,631.5

Due after three years to four years
3,233.3

Due after four years
6,067.3

 
 

Total available-for-sale securities
$
18,838.7

Receivables
Receivables
NOTE 6. RECEIVABLES

Accounts receivable, net, includes the Company's trade receivables, which are recorded based upon the amount the Company expects to receive from its clients, net of an allowance for doubtful accounts. The Company's receivables also include notes receivable for the financing of the sale of computer systems, primarily from auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers. Notes receivable are recorded based upon the amount the Company expects to receive from its clients, net of an allowance for doubtful accounts and unearned income. The allowance for doubtful accounts is the Company's best estimate of probable credit losses related to trade receivables and notes receivable based upon the aging of the receivables, historical collection data, internal assessments of credit quality and the economic conditions in the automobile industry, as well as in the economy as a whole. The Company charges off uncollectable amounts against the reserve in the period in which it determines they are uncollectable. Unearned income on notes receivable is amortized using the effective interest method.

The Company’s receivables, whose carrying value approximates fair value, are as follows:
 
June 30, 2013
 
June 30, 2012
 
Current
 
Long-term
 
Current
 
Long-term
Trade receivables
$
1,564.8

 
$
—

 
$
1,355.7

 
$
—

Notes receivable
91.0

 
154.7

 
89.1

 
145.5

Less:
 

 
 

 
 

 
 

Allowance for doubtful accounts - trade receivables
(45.6
)
 
—

 
(40.7
)
 
—

Allowance for doubtful accounts - notes receivable
(5.3
)
 
(9.0
)
 
(5.4
)
 
(8.8
)
Unearned income - notes receivable
(6.6
)
 
(7.0
)
 
(7.0
)
 
(6.9
)

$
1,598.3

 
$
138.7

 
$
1,391.7

 
$
129.8



Long-term receivables at June 30, 2013 mature as follows:
2015
 
$
67.2

2016
 
$
47.6

2017
 
$
28.8

2018
 
$
11.1

Total
 
$
154.7




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 the Company's 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:
 
June 30, 2013
 
Notes Receivable
 
Reserve
 
Current
 
Long-term
 
Current
 
Long-term
Specific reserve
$
0.3

 
$
0.5

 
$
0.3

 
$
0.5

Non-specific reserve
90.7

 
154.2

 
5.0

 
8.5


$
91.0

 
$
154.7

 
$
5.3

 
$
9.0


 
June 30, 2012
 
Notes Receivable
 
Reserve
 
Current
 
Long-term
 
Current
 
Long-term
Specific reserve
$
0.4

 
$
0.6

 
$
0.4

 
$
0.6

Non-specific reserve
88.7

 
144.9

 
5.0

 
8.2


$
89.1

 
$
145.5

 
$
5.4

 
$
8.8



The rollforward of the allowance for doubtful accounts related to notes receivable is as follows:
 
Current
 
Long-term
Balance at June 30, 2011
$
5.7

 
$
9.4

Incremental provision
0.6

 
0.2

Recoveries
—

 
0.4

Chargeoffs
(0.9
)
 
(1.2
)
Balance at June 30, 2012
$
5.4

 
$
8.8

Incremental provision
0.8

 
1.2

Recoveries
—

 
0.2

Chargeoffs
(0.9
)
 
(1.2
)
Balance at June 30, 2013
$
5.3

 
$
9.0



The allowance for doubtful accounts as a percentage of notes receivable was approximately 6% as of June 30, 2013 and 6% as of June 30, 2012.

On an ongoing basis, the Company evaluates the credit quality of its financing receivables, utilizing aging of receivables, collection experience and charge-offs.  In addition, the Company evaluates economic conditions in the auto industry and specific dealership matters, such as bankruptcy.  As events related to a specific client dictate, the credit quality of a client is reevaluated. Approximately 100% of notes receivable were current at June 30, 2013 and 2012.
Property, Plant, and Equipment (Notes)
Property, Plant and Equipment
NOTE 7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at cost and accumulated depreciation at June 30, 2013 and 2012 are as follows:
June 30,
 
2013
 
2012
 
 
 
 
 
Property, plant, and equipment:
 
 
 
 
Land and buildings
 
$
731.7

 
$
710.4

Data processing equipment
 
850.7

 
814.5

Furniture, leaseholds, and other
 
460.5

 
431.6

 
 
2,042.9

 
1,956.5

Less: accumulated depreciation
 
(1,314.2
)
 
(1,250.2
)
Property, plant, and equipment, net
 
$
728.7

 
$
706.3



Depreciation of property, plant and equipment was $149.9 million, $146.9 million, and $146.3 million for fiscal 2013, 2012, and 2011, respectively.
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net
NOTE 8. GOODWILL AND INTANGIBLE ASSETS, NET

Changes in goodwill for the fiscal year ended June 30, 2013 and 2012 are as follows:
 
Employer
Services
 
PEO
Services
 
Dealer
Services
 
Total
Balance at June 30, 2011
$
1,841.7

 
$
4.8

 
$
1,133.8

 
$
2,980.3

Additions and other adjustments, net
106.8

 
—

 
56.2

 
163.0

Currency translation adjustments
(60.9
)
 
—

 
(20.4
)
 
(81.3
)
Balance at June 30, 2012
$
1,887.6

 
$
4.8

 
$
1,169.6

 
$
3,062.0

Additions and other adjustments, net
29.4

 
—

 
0.8

 
30.2

Currency translation adjustments
4.5

 
—

 
(1.4
)
 
3.1

Goodwill impairment
(42.7
)
 
—

 
—

 
(42.7
)
Balance at June 30, 2013
$
1,878.8

 
$
4.8

 
$
1,169.0

 
$
3,052.6



During the fourth quarter of fiscal 2013, the Company recorded an impairment charge of $42.7 million related to the ADP AdvancedMD reporting unit. The goodwill impairment was due to a decrease in the estimated fair value of the business resulting from a decline in the sales growth and profitability projections of the business.

The remeasurement of goodwill is classified as a Level 3 fair value assessment due to the significance of unobservable inputs developed using Company-specific information. The Company determined the fair value utilizing the income approach and the market approach. Under the income approach, the Company calculated the fair value based on the present value of the estimated cash flows. Cash flow projections were based on management's estimates of revenue growth rates and net operating income margins, taking into consideration market and industry conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the risk, size premium, and business specific characteristics related to the business's ability to execute on the projected cash flows. Under the market approach, the Company evaluated the fair value based on market multiples of revenue and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit. The unobservable inputs used to measure the fair value included projected revenue growth rates, profitability projections, working capital assumptions, the weighted average cost of capital, the determination of appropriate market comparison companies, and terminal growth rates.

Because the annual impairment test indicated that ADP AdvancedMD's carrying value exceeded its estimated fair value, a second phase of the goodwill impairment test ("Step 2") was performed specific to this business. Under Step 2, the fair values of all assets and liabilities were estimated, including tangible assets, existing technology, customer lists, and trademarks for the purpose of deriving an estimate of the implied fair value of goodwill. The implied fair value of goodwill was then compared to the recorded goodwill to determine the amount of impairment. Assumptions used in measuring the value of these assets and liabilities included the discount rates, royalty rates, and attrition rates used in valuing the intangible assets. Upon completion of the annual test, the ADP AdvancedMD reporting unit was determined to be impaired. ADP AdvancedMD is currently reported in our Employer Services segment.

There were no accumulated goodwill impairments as of the beginning of fiscal 2013.

Components of intangible assets, net, are as follows:
June 30,
 
2013
 
2012
 
 
 
 
 
Intangible assets:
 
 
 
 
Software and software licenses
 
$
1,511.1

 
$
1,410.9

Customer contracts and lists
 
848.9

 
832.7

Other intangibles
 
241.7

 
241.6

 
 
2,601.7

 
2,485.2

Less accumulated amortization:
 
 

 
 

Software and software licenses
 
(1,239.5
)
 
(1,145.8
)
Customer contracts and lists
 
(534.3
)
 
(479.1
)
Other intangibles
 
(184.7
)
 
(172.0
)
 
 
(1,958.5
)
 
(1,796.9
)
Intangible assets, net
 
$
643.2

 
$
688.3



Other intangibles consist primarily of purchased rights, covenants, patents, and trademarks (acquired directly or through acquisitions).  All of the intangible assets have finite lives and, as such, are subject to amortization.  The weighted average remaining useful life of the intangible assets is 7 years (4 years for software and software licenses, 10 years for customer contracts and lists, and 7 years for other intangibles).  Amortization of intangible assets was $167.1 million, $172.8 million, and $168.3 million for fiscal 2013, 2012, and 2011, respectively.

Estimated future amortization expenses of the Company's existing intangible assets are as follows:
 
Amount
Twelve months ending June 30, 2014
$
157.3

Twelve months ending June 30, 2015
$
128.0

Twelve months ending June 30, 2016
$
89.8

Twelve months ending June 30, 2017
$
67.5

Twelve months ending June 30, 2018
$
43.5

Short-Term Financing
Short-Term Financing
NOTE 9. SHORT TERM FINANCING

The Company has a $2.0 billion, 364-day credit agreement with a group of lenders that matures in June 2014.  In addition, the Company has a four-year $3.25 billion credit facility maturing in June 2015 that contains an accordion feature under which the aggregate commitment can be increased by $500.0 million, subject to the availability of additional commitments.  The Company also has an existing $2.0 billion five-year credit facility that matures in June 2018 that also contains an accordion feature under which the aggregate commitment can be increased by $500.0 million, subject to the availability of additional commitments.  The interest rate applicable to committed borrowings is tied to LIBOR, the federal funds effective rate, or the prime rate depending on the notification provided by the Company to the syndicated financial institutions prior to borrowing.  The Company is also required to pay facility fees on the credit agreements.  The primary uses of the credit facilities are to provide liquidity to the commercial paper program and funding for general corporate purposes, if necessary.  The Company had no borrowings through June 30, 2013 under the credit agreements.

The Company’s U.S. short-term funding requirements related to client funds are sometimes obtained through a short-term commercial paper program, which provides for the issuance of up to $6.75 billion in aggregate maturity value of commercial paper, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. In August 2013, the Company increased the U.S. short-term commercial paper program to provide for the issuance of up to $7.25 billion in aggregate maturity value. The Company’s commercial paper program is rated A-1+ by Standard and Poor’s and Prime-1 by Moody’s.  These ratings denote the highest quality commercial paper securities.  Maturities of commercial paper can range from overnight to up to 364 days.  At June 30, 2013 and 2012, the Company had no commercial paper outstanding.  In fiscal 2013 and 2012, the Company's average borrowings were $2.4 billion and $2.3 billion, respectively, at weighted average interest rates of 0.2% and 0.1%, respectively. The weighted average maturity of the Company’s commercial paper in fiscal 2013 and 2012 approximated two days.

The Company’s U.S. and Canadian short-term funding requirements related to client funds obligations are sometimes obtained on a secured basis through the use of reverse repurchase agreements, which are collateralized principally by government and government agency securities, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities.  These agreements generally have terms ranging from overnight to up to five business days.  The Company has $3.0 billion available to it on a committed basis under these reverse repurchase agreements. At June 30, 2013, the Company had $245.9 million of obligations outstanding related to reverse repurchase agreements, which were subsequently repaid on July 2, 2013. At June 30, 2012, there were no outstanding obligations under reverse repurchase agreements. In fiscal 2013 and 2012, the Company had average outstanding balances under reverse repurchase agreements of $362.0 million and $297.7 million, respectively, at weighted average interest rates of 0.7% and 0.6%, respectively.
Employee Benefit Plans
Employee Benefit Plans
NOTE 10. EMPLOYEE BENEFIT PLANS

A.  Stock-based Compensation Plans.  Stock-based compensation consists of the following:

•
Stock Options.  Stock options are granted to employees at exercise prices equal to the fair market value of the Company's common stock on the dates of grant.  Stock options are issued under a graded vesting schedule and have a term of 10 years.  Options granted prior to July 1, 2008 generally vest ratably over five years and options granted after July 1, 2008 generally vest ratably over four years.  Compensation expense is measured based on the fair value of the stock option on the grant date and recognized over the requisite service period for each separately vesting portion of the stock option award. Stock options are forfeited if the employee ceases to be employed by the Company prior to vesting.

•
Restricted Stock.
•
Time-Based Restricted Stock and Time-Based Restricted Stock Units. Time-based restricted stock and restricted stock units granted prior to fiscal 2013 are subject to vesting periods of up to five years and awards granted during fiscal 2013 are subject to a vesting period of two years. Awards are forfeited if the employee ceases to be employed by the Company prior to vesting.

Time-based restricted stock cannot be transferred during the vesting period. Compensation expense relating to the issuance of time-based restricted stock is measured based on the fair value of the award on the grant date and recognized on a straight-line basis over the vesting period. Employees are eligible to receive dividends on shares awarded under the time-based restricted stock program.

Time-based restricted stock units are settled in cash. Compensation expense relating to the issuance of time-based restricted stock units is recorded over the vesting period and is initially based on the fair value of the award on the grant date; and is subsequently remeasured at each reporting date during the vesting period. No dividend equivalents are paid on units awarded under the time-based restricted stock unit program.
 
•
Performance-Based Restricted Stock and Performance-Based Restricted Stock Units. Performance-based restricted stock and performance-based restricted stock units generally vest over a one year performance period and a subsequent service period ranging from 6 months to 26 months. Under these programs, the Company communicates "target awards" at the beginning of the performance period with possible payouts at the end of the performance period ranging from 0% to 150% of the "target awards." Awards are forfeited if the employee ceases to be employed by the Company prior to vesting.

Performance-based restricted stock cannot be transferred during the vesting period. Compensation expense relating to the issuance of performance-based restricted stock is measured based upon the fair value of the award on the grant date and recognized on a straight-line basis over the vesting period, based upon the probability that the performance target will be met. After the performance period, if the performance targets are achieved, employees are eligible to receive dividends on shares awarded under the performance-based restricted stock program.

Performance-based restricted stock units are settled in cash. Compensation expense relating to the issuance of performance-based restricted stock units is recorded over the vesting period and is initially based on the fair value of the award on the grant date; and is subsequently remeasured at each reporting date during the one-year performance period, based upon the probability that the performance target will be met. No dividend equivalents are paid on awards under the performance-based restricted stock unit program.

•
Employee Stock Purchase Plan.  The Company offers an employee stock purchase plan that allows eligible employees to purchase shares of common stock at a price equal to 95% of the market value for the Company's common stock on the last day of the offering period.  This plan has been deemed non-compensatory and therefore, no compensation expense has been recorded.

The Company currently utilizes treasury stock to satisfy stock option exercises, issuances under the Company's employee stock purchase plan, and restricted stock awards.  From time to time, the Company may repurchase shares of its common stock under its authorized share repurchase programs.  The Company repurchased 10.4 million shares in fiscal 2013 as compared to 14.6 million shares repurchased in fiscal 2012. The Company considers several factors in determining when to execute share repurchases, including, among other things, actual and potential acquisition activity, cash balances and cash flows, issuances due to employee benefit plan activity, and market conditions. Cash payments related to the settlement of vested time-based restricted stock units and performance-based restricted stock units were approximately $17.8 million, $15.4 million, and $10.3 million during fiscal years 2013, 2012, and 2011.

The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2013, 2012, and 2011, respectively:
Years ended June 30,
 
2013
 
2012
 
2011
Operating expenses
 
$
17.9

 
$
17.2

 
$
16.5

Selling, general and administrative expenses
 
64.0

 
62.6

 
59.9

System development and programming costs
 
14.5

 
14.3

 
13.9

Total pretax stock-based compensation expense
 
$
96.4

 
$
94.1

 
$
90.3

 
 
 
 
 
 
 
Income tax benefit
 
$
34.3

 
$
33.5

 
$
32.3



As of June 30, 2013, the total remaining unrecognized compensation cost related to non-vested stock options, restricted stock units, and restricted stock awards amounted to $9.7 million, $18.2 million, and $63.8 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 2.0 years, 1.3 years, and 1.4 years, respectively.

In fiscal 2013, the following activity occurred under the Company’s existing plans:

Stock Options:
Year ended June 30, 2013
 
Number
of Options
(in thousands)
 
Weighted
Average Price
(in dollars)
Options outstanding, beginning of year
 
16,187

 
$
41

Options granted
 
1,168

 
$
60

Options exercised
 
(6,070
)
 
$
38

Options canceled
 
(175
)
 
$
41

Options outstanding, end of year
 
11,110

 
$
44

Options exercisable, end of year
 
8,662

 
$
41

Shares available for future grants, end of year
 
28,459

 
 
Shares reserved for issuance under stock option plans, end of year
 
39,569

 
 


Time-Based Restricted Stock and Time-Based Restricted Stock Units:
Year ended June 30, 2013
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2012
 
358

 
—

Restricted shares/units granted
 
1,171

 
284

Restricted shares/units vested
 
(168
)
 
—

Restricted shares/units forfeited
 
(48
)
 
(4
)
Restricted shares/units outstanding at June 30, 2013
 
1,313

 
280



Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:
Year ended June 30, 2013
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding, beginning of year
 
1,474

 
295

Restricted shares/units granted
 
542

 
30

Restricted shares/units vested
 
(1,329
)
 
(275
)
Restricted shares/units forfeited
 
(166
)
 
(12
)
Restricted shares/units outstanding, end of year
 
521

 
38



The aggregate intrinsic value of stock options outstanding and exercisable as of June 30, 2013 was $276.8 million and $242.7 million, respectively, which has a remaining life of 4.6 years and 3.4 years, respectively. The aggregate intrinsic value for stock options exercised in fiscal 2013, 2012, and 2011 was $135.1 million, $83.8 million, and $95.7 million, respectively.

The fair value of each stock option issued is estimated on the date of grant using a binomial option pricing model.  The binomial model considers a range of assumptions related to volatility, risk-free interest rate, and employee exercise behavior.  Expected volatilities utilized in the binomial model are based on a combination of implied market volatilities, historical volatility of the Company’s stock price, and other factors.  Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant.  The binomial model also incorporates exercise and forfeiture assumptions based on an analysis of historical data.  The expected life of the stock option grant is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.

The fair value for stock options granted was estimated at the date of grant using the following assumptions:
 
2013
 
2012
 
2011
Risk-free interest rate
0.8% - 1.0%

 
0.8% - 1.0%

 
1.4% - 2.4%

Dividend yield
2.7% - 2.9%

 
2.8% - 3.1%

 
2.9% - 3.3%

Weighted average volatility factor
23.5% - 24.4%

 
24.9% - 25.9%

 
24.5% - 24.9%

Weighted average expected life (in years)
5.3 - 5.4

 
5.2 - 5.3

 
5.1 - 5.2

Weighted average fair value (in dollars)
$
8.63

 
$
8.46

 
$
7.59



The weighted average fair values of shares granted were as follows:
Year ended June 30,
2013
 
 
Performance-based restricted stock
$
55.13

Time-based restricted stock
$
58.72



B.  Pension Plans

The Company has a defined benefit cash balance pension plan covering substantially all U.S. employees, under which employees are credited with a percentage of base pay plus interest. The plan interest credit rate varies from year-to-year based on the ten-year U.S. Treasury rate. Employees are fully vested upon completion of three years of service. The Company's policy is to make contributions within the range determined by generally accepted actuarial principles. In addition, the Company has various retirement plans for its non-U.S. employees and maintains a Supplemental Officers Retirement Plan (“SORP”). The SORP is a defined benefit plan pursuant to which the Company pays supplemental pension benefits to certain key officers upon retirement based upon the officers' years of service and compensation.

A June 30 measurement date was used in determining the Company's benefit obligations and fair value of plan assets.
The Company is required to (a) recognize in its Consolidated Balance Sheets an asset for a plan's net overfunded status or a liability for a plan's net underfunded status, (b) measure a plan's assets and its obligations that determine its funded status as of the end of the employer's fiscal year, and (c) recognize changes in the funded status of a defined benefit plan in the year in which the changes occur in accumulated other comprehensive income (loss).

The Company's pension plans' funded status as of June 30, 2013 and 2012 is as follows:
June 30,
 
2013
 
2012
 
 
 
 
 
Change in plan assets:
 
 
 
 
Fair value of plan assets at beginning of year
 
$
1,469.5

 
$
1,313.3

Actual return on plan assets
 
121.0

 
106.6

Employer contributions
 
135.3

 
91.6

Currency translation adjustments
 
(1.5
)
 
(4.6
)
Benefits paid
 
(48.2
)
 
(37.4
)
Fair value of plan assets at end of year
 
$
1,676.1

 
$
1,469.5

 
 
 
 
 
Change in benefit obligation:
 
 
 
 
Benefit obligation at beginning of year
 
$
1,412.1

 
$
1,178.8

Service cost
 
67.2

 
57.2

Interest cost
 
55.1

 
62.1

Actuarial (gains)/losses
 
(58.6
)
 
159.4

Currency translation adjustments
 
0.2

 
(10.8
)
Benefits paid
 
(48.2
)
 
(37.4
)
Acquisitions
 
—

 
2.8

Projected benefit obligation at end of year
 
$
1,427.8

 
$
1,412.1

 
 
 
 
 
Funded status - plan assets less benefit obligations
 
$
248.3

 
$
57.4



The amounts recognized on the Consolidated Balance Sheets as of June 30, 2013 and 2012 consisted of:
June 30,
 
2013
 
2012
 
 
 
 
 
Noncurrent assets
 
$
362.6

 
$
170.3

Current liabilities
 
(4.7
)
 
(4.3
)
Noncurrent liabilities
 
(109.6
)
 
(108.6
)
Net amount recognized
 
$
248.3

 
$
57.4



The accumulated benefit obligation for all defined benefit pension plans was $1,412.8 million and $1,399.9 million at June 30, 2013 and 2012, respectively.

The Company's pension plans with accumulated benefit obligations in excess of plan assets as of June 30, 2013 and 2012 had the following projected benefit obligation, accumulated benefit obligation and fair value of plan assets:
June 30,
 
2013
 
2012
 
 
 
 
 
Projected benefit obligation
 
$
127.7

 
$
171.5

Accumulated benefit obligation
 
$
115.3

 
$
161.8

Fair value of plan assets
 
$
14.2

 
$
60.8



The components of net pension expense were as follows:
 
 
2013
 
2012
 
2011
Service cost – benefits earned during the period
 
$
67.2

 
$
57.2

 
$
52.3

Interest cost on projected benefits
 
55.1

 
62.1

 
56.6

Expected return on plan assets
 
(109.5
)
 
(97.6
)
 
(88.5
)
Net amortization and deferral
 
30.9

 
15.0

 
20.1

Net pension expense
 
$
43.7

 
$
36.7

 
$
40.5



The net actuarial loss, prior service cost, and transition obligation for the defined benefit pension plans that are included in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit cost are $311.2 million, $4.9 million, and $0.6 million, respectively, at June 30, 2013. The estimated net actuarial loss, prior service cost, and transition obligation for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic pension cost over the next fiscal year are $18.8 million, $0.9 million, and $0.2 million, respectively, at June 30, 2013.

Assumptions used to determine the actuarial present value of benefit obligations were:
Years ended June 30,
 
2013
 
2012
 
 
 
 
 
Discount rate
 
4.50
%
 
3.90
%
Increase in compensation levels
 
4.00
%
 
4.00
%


Assumptions used to determine the net pension expense generally were:
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Discount rate
 
3.90
%
 
5.40
%
 
5.25
%
Expected long-term rate of return on assets
 
7.25
%
 
7.25
%
 
7.25
%
Increase in compensation levels
 
4.00
%
 
4.00
%
 
5.50
%

            
The discount rate is based upon published rates for high-quality fixed-income investments that produce cash flows that approximate the timing and amount of expected future benefit payments.

The expected long-term rate of return on assets is determined based on historical and expected future rates of return on plan assets considering the target asset mix and the long-term investment strategy.

Plan Assets

The Company's pension plans' asset allocations at June 30, 2013 and 2012 by asset category were as follows:
 
 
2013
 
2012
 
 
 
 
 
U.S. fixed income securities
 
31
%
 
41
%
U.S. equity securities
 
21
%
 
41
%
International equity securities
 
21
%
 
18
%
Global equity securities
 
27
%
 
—
%
 
 
100
%
 
100
%


The Company's pension plans' asset investment strategy is designed to ensure prudent management of assets, consistent with long-term return objectives and the prompt fulfillment of all pension plan obligations. The investment strategy and asset mix were developed in coordination with an asset liability study conducted by external consultants to maximize the funded ratio with the least amount of volatility. In fiscal 2013, the Company revised the target asset allocation of the U.S. pension plan to include global equities as a separate asset class to enhance the diversification of overall pension plan investments.

The pension plans' assets are currently invested in various asset classes with differing expected rates of return, correlations and volatilities, including large capitalization and small capitalization U.S. equities, international equities, U.S. fixed income securities and cash.

The target asset allocation ranges are generally as follows:
U.S. fixed income securities
35% - 45%
U.S. equity securities
14% - 24%
International equity securities
11% - 21%
Global equity securities
20% - 30%


The pension plans' fixed income portfolio is designed to match the duration and liquidity characteristics of the pension plans' liabilities. In addition, the pension plans invest only in investment-grade debt securities to ensure preservation of capital. The pension plans' equity portfolios are subject to diversification guidelines to reduce the impact of losses in single investments. Investment managers are prohibited from buying or selling commodities and from the short selling of securities.

None of the pension plans' assets are directly invested in the Company's stock, although the pension plans may hold a minimal amount of Company stock to the extent of the Company's participation in the S&P 500 Index.

The pension plans' investments included in Level 1 are valued using closing prices for identical instruments that are traded on active exchanges. The pension plans' investments included in Level 2 are valued utilizing inputs obtained from an independent pricing service, which are reviewed by the Company for reasonableness. To determine the fair value of our Level 2 plan assets, a variety of inputs are utilized, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, new issue data, and monthly payment information. The pension plans have no Level 3 investments at June 30, 2013.

The following table presents the investments of the pension plans measured at fair value at June 30, 2013:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
1,050.7

 
$
—

 
$
1,050.7

U.S. government securities
 
—

 
228.3

 
—

 
228.3

Mutual funds
 
79.2

 
—

 
—

 
79.2

Corporate and municipal bonds
 
—

 
252.5

 
—

 
252.5

Mortgage-backed security bonds
 
—

 
22.7

 
—

 
22.7

Total pension assets
 
$
79.2

 
$
1,554.2

 
$
—

 
$
1,633.4


In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $42.7 million as of June 30, 2013, which have been classified as Level 2 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2012:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
583.5

 
$
—

 
$
583.5

U.S. government securities
 
—

 
272.5

 
—

 
272.5

Mutual funds
 
269.6

 
—

 
—

 
269.6

Corporate and municipal bonds
 
—

 
272.8

 
—

 
272.8

Mortgage-backed security bonds
 
—

 
13.9

 
—

 
13.9

Total pension assets
 
$
269.6

 
$
1,142.7

 
$
—

 
$
1,412.3



In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $57.2 million as of June 30, 2012, which have been classified as Level 2 in the fair value hierarchy.

Contributions

During fiscal 2013, the Company contributed $135.3 million to the pension plans. In July 2013, the Company contributed $75.0 million to the pension plans and expects to contribute an additional $8.7 million to the pension plans during its fiscal year ended June 30, 2014 ("fiscal 2014").

Estimated Future Benefit Payments

The benefits expected to be paid in each year from fiscal 2014 to 2018 are $54.1 million, $60.5 million, $67.1 million, $77.0 million and $86.0 million, respectively. The aggregate benefits expected to be paid in the five fiscal years from 2019 to 2023 are $568.6 million. The expected benefits to be paid are based on the same assumptions used to measure the Company's pension plans' benefit obligations at June 30, 2013 and includes estimated future employee service.

C. Retirement and Savings Plan. The Company has a 401(k) retirement and savings plan, which allows eligible employees to contribute up to 50% of their compensation annually and allows highly compensated employees to contribute up to 12% of their compensation annually. The Company matches a portion of employee contributions, which amounted to approximately $72.0 million, $65.9 million, and $57.5 million for the calendar years ended December 31, 2012, 2011, and 2010, respectively.
Income Taxes
Income Taxes
NOTE 11. INCOME TAXES

Earnings from continuing operations before income taxes shown below are based on the geographic location to which such earnings are attributable.
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes:
 
 
 
 
 
 
United States
 
$
1,757.6

 
$
1,874.4

 
$
1,660.4

Foreign
 
326.7

 
233.5

 
257.6

 
 
$
2,084.3

 
$
2,107.9

 
$
1,918.0



The provision (benefit) for income taxes consists of the following components:
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Current:
 
 
 
 
 
 
Federal
 
$
539.2

 
$
537.6

 
$
446.4

Foreign
 
105.9

 
87.3

 
96.9

State
 
50.5

 
67.4

 
24.4

Total current
 
695.6

 
692.3

 
567.7

 
 
 
 
 
 
 
Deferred:
 
 
 
 
 
 
Federal
 
35.2

 
48.4

 
93.7

Foreign
 
(15.0
)
 
(9.3
)
 
(1.8
)
State
 
4.4

 
(3.2
)
 
13.4

Total deferred
 
24.6

 
35.9

 
105.3

Total provision for income taxes
 
$
720.2

 
$
728.2

 
$
673.0



A reconciliation between the Company's effective tax rate and the U.S. federal statutory rate is as follows:
Years ended June 30,
 
2013
 
%
 
2012
 
%
 
2011
 
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Provision for taxes at U.S. statutory rate
 
$
729.6

 
35.0

 
$
737.8

 
35.0

 
$
671.4

 
35.0

 
 
 
 
 
 
 
 
 
 
 
 
 
Increase (decrease) in provision from:
 
 
 
 
 
 
 
 
 
 
 
 
State taxes, net of federal tax
 
35.3

 
1.7

 
37.6

 
1.8

 
28.7

 
1.5

U.S. tax on foreign income
 
85.3

 
4.1

 
51.4

 
2.5

 
30.3

 
1.6

Utilization of foreign tax credits
 
(94.4
)
 
(4.5
)
 
(51.7
)
 
(2.5
)
 
(26.0
)
 
(1.3
)
Section 199 - Qualified production activities
 
(22.3
)
 
(1.1
)
 
(22.4
)
 
(1.1
)
 
(18.2
)
 
(1.0
)
Other (A)
 
(13.3
)
 
(0.6
)
 
(24.5
)
 
(1.2
)
 
(13.2
)
 
(0.7
)
 
 
$
720.2

 
34.6

 
$
728.2

 
34.5

 
$
673.0

 
35.1



(A) Fiscal 2013 includes $16.0 million for the tax impact of the non tax-deductible goodwill impairment related to ADP AdvancedMD which increased our fiscal 2013 effective tax rate 0.7 percentage points.

The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows:
Years ended June 30,
 
2013
 
2012
 
 
 
 
 
Deferred tax assets:
 
 
 
 
Accrued expenses not currently deductible
 
$
223.7

 
$
228.0

Stock-based compensation expense
 
84.1

 
91.1

Net operating losses
 
98.1

 
102.0

Other
 
39.5

 
16.9

 
 
445.4

 
438.0

Less: valuation allowances
 
(49.4
)
 
(54.8
)
Deferred tax assets, net
 
$
396.0

 
$
383.2

 
 
 
 
 
Deferred tax liabilities:
 
 
 
 
Prepaid retirement benefits
 
$
146.2

 
$
88.9

Deferred revenue
 
62.9

 
69.3

Fixed and intangible assets
 
235.3

 
246.4

Prepaid expenses
 
88.9

 
84.8

Unrealized investment gains, net
 
99.8

 
247.0

Tax on unrepatriated earnings
 
12.3

 
14.1

Other
 
7.3

 
4.1

Deferred tax liabilities
 
$
652.7

 
$
754.6

Net deferred tax liabilities
 
$
256.7

 
$
371.4



There are $26.3 million and $44.0 million of current deferred tax assets included in other current assets on the Consolidated Balance Sheets at June 30, 2013 and 2012, respectively. There are $89.4 million and $53.2 million of long-term deferred tax assets included in other assets on the Consolidated Balance Sheets at June 30, 2013 and 2012, respectively. There are $138.0 million and $87.1 million of current deferred tax liabilities included in accrued expenses and other current liabilities on the Consolidated Balance Sheets at June 30, 2013 and 2012, respectively.

Income taxes have not been provided on undistributed earnings of certain foreign subsidiaries in an aggregate amount of approximately $910.3 million as of June 30, 2013, as the Company considers such earnings to be permanently reinvested
outside of the United States. The additional U.S. income tax that would arise on repatriation of the remaining undistributed earnings could be offset, in part, by foreign tax credits on such repatriation. However, it is impractical to estimate the amount of net income tax that might be payable.

The Company has estimated foreign net operating loss carry-forwards of approximately $132.1 million as of June 30, 2013, of which $64.8 million expire through 2033 and $67.3 million has an indefinite utilization period. As of June 30, 2013, the Company has approximately $98.2 million of federal net operating loss carry-forwards from acquired companies. The net operating losses have an annual utilization limitation pursuant to section 382 of the Internal Revenue Code and expire through 2031.

The Company has state net operating loss carry-forwards of approximately $212.9 million as of June 30, 2013, which expire through 2032.

The Company has recorded valuation allowances of $49.4 million and $54.8 million at June 30, 2013 and 2012, respectively, to reflect the estimated amount of domestic and foreign deferred tax assets that may not be realized.

Income tax payments were approximately $693.0 million, $660.3 million, and $628.7 million for fiscal 2013, 2012, and 2011, respectively.

As of June 30, 2013, 2012, and 2011 the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $70.7 million, $84.7 million, and $105.7 million respectively. The amount that, if recognized, would impact the effective tax rate is $38.8 million, $43.7 million, and $56.3 million, respectively. The remainder, if recognized, would principally affect deferred taxes.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
 
 
Fiscal 2013
 
Fiscal 2012
 
Fiscal 2011
 
 
 
 
 
 
 
Unrecognized tax benefits at beginning of the year
 
$
84.7

 
$
105.7

 
$
107.2

Additions for tax positions
 
5.0

 
8.0

 
9.7

Reductions for tax positions
 
—

 
(0.8
)
 
(2.4
)
Additions for tax positions of prior periods
 
5.3

 
13.0

 
17.3

Reductions for tax positions of prior periods
 
(3.7
)
 
(21.6
)
 
(23.3
)
Settlement with tax authorities
 
(12.0
)
 
(4.2
)
 
(4.5
)
Expiration of the statute of limitations
 
(9.7
)
 
(9.8
)
 
(0.4
)
Impact of foreign exchange rate fluctuations
 
1.1

 
(5.6
)
 
2.1

Unrecognized tax benefit at end of year
 
$
70.7

 
$
84.7

 
$
105.7



Interest expense and penalties associated with uncertain tax positions have been recorded in the provision for income taxes on the Statements of Consolidated Earnings. During the fiscal years ended June 30, 2013, 2012, and 2011, the Company recorded interest expense of $0.4 million, $1.2 million, and $1.7 million, respectively. Penalties incurred during fiscal years ended June 30, 2013, 2012, and 2011 were not material.

At June 30, 2013, the Company had accrued interest of $12.2 million recorded on the Consolidated Balance Sheets, of which $1.2 million was recorded within income taxes payable, and the remainder was recorded within other liabilities. At June 30, 2012, the Company had accrued interest of $14.4 million recorded on the Consolidated Balance Sheets, of which $1.6 million was recorded within income taxes payable, and the remainder was recorded within other liabilities. At June 30, 2013, the Company had accrued penalties of $1.0 million recorded on the Consolidated Balance Sheets, of which $0.1 million was recorded within income taxes payable, and the remainder was recorded within other liabilities. At June 30, 2012, the Company had accrued penalties of $2.1 million recorded on the Consolidated Balance Sheets, of which $0.7 million was recorded within income taxes payable, and the remainder was recorded within other liabilities.

The Company is routinely examined by the IRS and tax authorities in foreign countries in which it conducts business, as well as tax authorities in states in which it has significant business operations. The tax years currently under examination vary by jurisdiction. Examinations in progress in which the Company has significant business operations are as follows:

Taxing Jurisdiction
 
Fiscal Years under Examination
U.S. (IRS)
 
2012-2013
California
 
2006-2008
Illinois
 
2004-2009
New York
 
2007-2009
New Jersey
 
2002-2009
France
 
2010-2012

    
The Company regularly considers the likelihood of assessments resulting from examinations in each of the jurisdictions. The resolution of tax matters is not expected to have a material effect on the consolidated financial condition of the Company, although a resolution could have a material impact on the Company's Statements of Consolidated Earnings for a particular future period and on the Company's effective tax rate.

If certain pending tax matters settle within the next twelve months, the total amount of unrecognized tax benefits may increase or decrease for all open tax years and jurisdictions. Based on current estimates, settlements related to various jurisdictions and tax periods could increase earnings up to $15 million in the next twelve months. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, the current tax liability and deferred taxes in the period in which the facts that give rise to a revision become known.

In fiscal 2013, the Company reached agreements with the IRS regarding all outstanding tax audit issues in dispute for the tax years through and including June 30, 2011, which did not have a material impact to the consolidated financial statements of the Company.
Commitments And Contingencies
Commitments And Contingencies
NOTE 12. COMMITMENTS AND CONTINGENCIES

The Company has obligations under various facilities and equipment leases and software license agreements. Total expense under these agreements was approximately $270.2 million, $252.6 million, and $159.2 million in fiscal 2013, 2012, and 2011, respectively, with minimum commitments at June 30, 2013 as follows:

Years ending June 30,
 
 
 
2014
$
177.4

2015
137.0

2016
85.7

2017
48.2

2018
33.1

Thereafter
28.8

 
$
510.2


                                                                               
In addition to fixed rentals, certain leases require payment of maintenance and real estate taxes and contain escalation provisions based on future adjustments in price indices.

As of June 30, 2013, the Company has purchase commitments of approximately $720.0 million, including a reinsurance premium with ACE American Insurance Company for the fiscal 2014 policy year, as well as obligations related to purchase and maintenance agreements on our software, equipment, and other assets, of which $349.1 million relates to the fiscal year ending June 30, 2014, $145.1 million relates to the fiscal year ending June 30, 2015 and the remaining $225.8 million relates to fiscal years ending June 30, 2016 through fiscal 2018.

On July 18, 2011, athenahealth, Inc. filed a patent infringement lawsuit against ADP AdvancedMD, Inc. ("ADP AdvancedMD"), a subsidiary of the Company, seeking monetary damages, injunctive relief, and costs.  The allegations include a claim that ADP AdvancedMD's activities in providing medical practice management and billing and revenue management software and associated services to physicians and medical practice managers infringe a patent owned by athenahealth, Inc.  The parties are currently engaged in the discovery process.  The Company believes that it has meritorious defenses to this lawsuit and continues to vigorously defend itself against the allegations.

In June 2011, the Company received a Commissioner’s Charge from the U.S. Equal Employment Opportunity Commission (“EEOC”) alleging that the Company has violated Title VII of the Civil Rights Act of 1964 by refusing to recruit, hire, transfer and promote certain persons on the basis of their race, in the State of Illinois from at least the period of January 1, 2007 to the present.  The Company continues to investigate the allegations set forth in the Commissioner’s Charge and is cooperating with the EEOC’s investigation.

The Company is subject to various claims and litigation in the normal course of business. When a loss is considered probable and reasonably estimable, the Company records a liability in the amount of its best estimate for the ultimate loss. At this time the Company is unable to estimate any reasonably possible loss, or range of reasonably possible loss, with respect to the matters described above. This is primarily because these matters involve complex issues subject to inherent uncertainty. There can be no assurance that these matters will be resolved in a manner that is not adverse to the Company.

It is not the Company’s business practice to enter into off-balance sheet arrangements. In the normal course of business, the Company may enter into contracts in which it makes representations and warranties that relate to the performance of the Company’s services and products.  The Company does not expect any material losses related to such representations and warranties.
Accumulated Other Comprehensive Income (Notes)
Accumulated Other Comprehensive Income
NOTE 13. ACCUMULATED OTHER COMPREHENSIVE INCOME

Comprehensive income is a measure of income that includes both net earnings and other comprehensive income (loss). Other comprehensive income (loss) results from items deferred on the Consolidated Balance Sheets in stockholders' equity. Other comprehensive (loss) income was $(214.8) million, $(136.9) million, and $157.6 million in fiscal 2013, 2012, and 2011, respectively. The accumulated balances reported in accumulated other comprehensive income on the Consolidated Balance Sheets for each component of other comprehensive income (loss) are as follows:

June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Currency translation adjustments
 
$
39.6

 
$
42.0

 
$
183.1

Unrealized net gain on available-for-sale
     securities, net of tax
 
186.7

 
461.3

 
369.8

Pension liability adjustment, net of tax
 
(210.9
)
 
(273.1
)
 
(185.8
)
Accumulated other comprehensive income
 
$
15.4

 
$
230.2

 
$
367.1

Financial Data By Segment
Interim Financial Data By Segment
NOTE 14. FINANCIAL DATA BY SEGMENT AND GEOGRAPHIC AREA

Based upon similar economic characteristics and operational characteristics, the Company’s strategic business units have been aggregated into the following three reportable segments: Employer Services, PEO Services, and Dealer Services.  The primary components of the “Other” segment are the results of operations of ADP Indemnity (a wholly-owned captive insurance company that provides workers’ compensation and employer’s liability deductible reimbursement insurance protection for PEO Services worksite employees), non-recurring gains and losses, miscellaneous processing services, such as customer financing transactions, and certain charges and expenses that have not been allocated to the reportable segments, such as stock-based compensation expense and the goodwill impairment charge.  Certain revenues and expenses are charged to the reportable segments at a standard rate for management reasons.  Other costs are recorded based on management responsibility.  The prior year reportable segments’ revenues and earnings from continuing operations before income taxes have been adjusted to reflect updated fiscal 2013 budgeted foreign exchange rates.  In addition, there is a reconciling item for the difference between actual interest income earned on invested funds held for clients and interest credited to Employer Services and PEO Services at a standard rate of 4.5%.  The reportable segments’ results also include an internal cost of capital charge related to the funding of acquisitions and other investments.  All of these adjustments/charges are reconciling items to the Company’s reportable segments’ revenues and/or earnings from continuing operations before income taxes and result in the elimination of these adjustments/charges in consolidation. Reportable segments' assets from continuing operations include funds held for clients, but exclude corporate cash, corporate marketable securities, and goodwill.

 
 
 
 
 
 
 
 
 
 
Reconciling Items
 
 
 
 
Employer Services
 
PEO Services
 
Dealer Services
 
Other
 
Foreign Exchange
 
Client Fund Interest
 
Cost of Capital Charge
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
7,914.0

 
$
1,973.2

 
$
1,813.7

 
$
1.7

 
$
39.9

 
$
(432.4
)
 
$
—

 
$
11,310.1

Earnings from continuing
   operations before income taxes
 
2,134.2

 
199.2

 
335.7

 
(272.8
)
 
7.4

 
(432.4
)
 
113.0

 
2,084.3

Assets from continuing
   operations
 
24,174.9

 
411.4

 
696.8

 
6,985.0

 
—

 
—

 
—

 
32,268.1

Capital expenditures
    from continuing operations
 
57.9

 
0.6

 
35.1

 
81.2

 
—

 
—

 
—

 
174.8

Depreciation and amortization
 
212.3

 
1.4

 
97.0

 
119.3

 
—

 
—

 
(113.0
)
 
317.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
7,388.5

 
$
1,771.4

 
$
1,661.3

 
$
5.5

 
$
96.4

 
$
(307.1
)
 
$
—

 
$
10,616.0

Earnings from continuing
   operations before income taxes
 
1,949.2

 
170.6

 
277.6

 
(102.0
)
 
3.1

 
(307.1
)
 
116.5

 
2,107.9

Assets from continuing
   operations
 
23,326.8

 
376.5

 
685.9

 
6,303.2

 
—

 
—

 
—

 
30,692.4

Capital expenditures
    from continuing operations
 
39.9

 
1.2

 
39.7

 
65.4

 
—

 
—

 
—

 
146.2

Depreciation and amortization
 
209.0

 
1.2

 
99.9

 
126.1

 
—

 
—

 
(116.5
)
 
319.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
6,878.3

 
$
1,543.9

 
$
1,513.5

 
$
12.9

 
$
97.2

 
$
(212.8
)
 
$
—

 
$
9,833.0

Earnings from continuing
   operations before income taxes
 
1,831.9

 
137.3

 
231.3

 
(178.1
)
 
(1.0
)
 
(212.8
)
 
109.4

 
1,918.0

Assets from continuing
   operations
 
27,034.4

 
262.1

 
677.4

 
6,138.4

 
—

 
—

 
—

 
34,112.3

Capital expenditures
    from continuing operations
 
51.3

 
1.2

 
34.4

 
97.9

 
—

 
—

 
—

 
184.8

Depreciation and amortization
 
201.6

 
1.1

 
99.3

 
122.0

 
—

 
—

 
(109.4
)
 
314.6



During fiscal 2013, 2012, and 2011, Dealer Services earned 12.1%, 10.7%, and 8.8%, respectively, of its segment revenues from continuing operations from one client. The Company did not have any customers that individually accounted for more than 10% of the Company's consolidated revenue from continuing operations.

 
 
United States
 
Europe
 
Canada
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
9,114.9

 
$
1,279.1

 
$
464.9

 
$
451.2

 
$
11,310.1

Assets from continuing operations
 
$
27,327.0

 
$
2,261.2

 
$
2,182.7

 
$
497.2

 
$
32,268.1

 
 
 
 
 
 
 
 
 
 
 
Years ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
8,493.3

 
$
1,269.8

 
$
447.5

 
$
405.4

 
$
10,616.0

Assets from continuing operations
 
$
26,201.9

 
$
1,969.7

 
$
2,130.5

 
$
390.3

 
$
30,692.4

 
 
 
 
 
 
 
 
 
 
 
Years ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
7,883.8

 
$
1,190.6

 
$
428.2

 
$
330.4

 
$
9,833.0

Assets from continuing operations
 
$
29,168.8

 
$
2,027.6

 
$
2,497.6

 
$
418.3

 
$
34,112.3

Quarterly Financial Results (Notes)
Quarterly Financial Results
NOTE 15. QUARTERLY FINANCIAL RESULTS (UNAUDITED)

Summarized quarterly results of our continuing operations for the two fiscal years ended June 30, 2013 and June 30, 2012 are as follows:

 
 
First
Quarter
 
Second Quarter
 
Third
Quarter
 
Fourth
Quarter (A)
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
2,637.5

 
$
2,747.8

 
$
3,114.3

 
$
2,810.5

Costs of revenues
 
$
1,586.5

 
$
1,624.3

 
$
1,745.9

 
$
1,692.8

Gross profit
 
$
1,051.0

 
$
1,123.5

 
$
1,368.4

 
$
1,117.7

Net earnings from continuing operations
 
$
302.5

 
$
352.0

 
$
482.7

 
$
227.0

Basic earnings per share from continuing operations
 
$
0.63

 
$
0.73

 
$
1.00

 
$
0.47

Diluted earnings per share from continuing operations
 
$
0.62

 
$
0.72

 
$
0.99

 
$
0.47

 
 
 
 
 
 
 
 
 
 
 
First
Quarter
 
Second Quarter (B)
 
Third
Quarter
 
Fourth
Quarter
Year ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
2,510.9

 
$
2,570.7

 
$
2,910.9

 
$
2,623.6

Costs of revenues
 
$
1,500.4

 
$
1,513.7

 
$
1,618.2

 
$
1,582.0

Gross profit
 
$
1,010.5

 
$
1,057.0

 
$
1,292.7

 
$
1,041.6

Net earnings from continuing operations
 
$
300.4

 
$
372.8

 
$
450.2

 
$
256.2

Basic earnings per share from continuing operations
 
$
0.62

 
$
0.77

 
$
0.92

 
$
0.53

Diluted earnings per share from continuing operations
 
$
0.61

 
$
0.76

 
$
0.91

 
$
0.52


(A) Net earnings from continuing operations and diluted earnings per share from continuing operations includes the impact of a goodwill impairment charge related to ADP AdvancedMD, which decreased net earnings from continuing operations by $42.7 million and diluted earnings per share from continuing operations by $0.09.

(B) Net earnings from continuing operations and diluted earnings per share from continuing operations includes the impact of a gain on sale of assets related to the rights and obligations to resell a third-party management platform which increased net earnings from continuing operations by $41.2 million and diluted earnings per share from continuing operations by $0.08.
Subsequent Events (Notes)
Subsequent Events
NOTE 16. SUBSEQUENT EVENTS

With the exception of the repayment of reverse repurchase obligations on July 2, 2013 and the August 2013 increase of the commercial paper program discussed in Note 9, the July 2013 pension plan contribution discussed in Note 10, and the item listed below, there are no further subsequent events for disclosure.

The Company's subsidiary captive insurance company, ADP Indemnity, paid a premium of $142.4 million in July 2013 to enter into a reinsurance arrangement with ACE American Insurance Company to cover substantially all losses for the fiscal 2014 policy year on terms substantially similar to the fiscal 2013 reinsurance policy to cover losses up to the $1 million per occurrence related to the workers' compensation and employer's liability deductible reimbursement insurance protection for PEO Services worksite employees.
Valuation and Qualiying Accounts (Notes)
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

AUTOMATIC DATA PROCESSING, INC.
AND SUBSIDIARIES
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
(In thousands)
Column A
 
Column B
 
Column C
 
 
Column D
 
 
Column E
 
 
 
 
Additions
 
 
 
 
 
 
 
 
 
 
(1)
 
(2)
 
 
 
 
 
 
 
 
Balance at beginning of period
 
Charged to costs and expenses
 
Charged to other accounts
 
 
Deductions
 
 
Balance at end of period
Year ended June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for doubtful accounts:
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
$
46,132

 
$
19,713

 
$
—

 
 
$
(14,930
)
(A)
 
$
50,915

Long-term
 
$
8,812

 
$
2,687

 
$
—

 
 
$
(2,466
)
(A)
 
$
9,033

Deferred tax valuation allowance
 
$
54,755

 
$
3,887

 
$
(850
)
(B)
 
$
(8,393
)
 
 
$
49,399

Year ended June 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for doubtful accounts:
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
$
50,164

 
$
24,088

 
$
—

 
 
$
(28,120
)
(A)
 
$
46,132

Long-term
 
$
9,438

 
$
2,106

 
$
—

 
 
$
(2,732
)
(A)
 
$
8,812

Deferred tax valuation allowance
 
$
62,700

 
$
4,003

 
$
(5,454
)
(B)
 
$
(6,494
)
 
 
$
54,755

Year ended June 30, 2011:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for doubtful accounts:
 
 
 
 
 
 
 
 
 
 
 
 
Current
 
$
48,543

 
$
22,976

 
$
—

 
 
$
(21,355
)
(A)
 
$
50,164

Long-term
 
$
16,048

 
$
2,954

 
$
—

 
 
$
(9,564
)
(A)
 
$
9,438

Deferred tax valuation allowance
 
$
61,883

 
$
3,399

 
$
2,507

(B)
 
$
(5,089
)
 
 
$
62,700

(A) Doubtful accounts written off, less recoveries on accounts previously written off.
(B) Includes amounts related to foreign exchange fluctuation.
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation 
A. Basis of Preparation. The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc. and its subsidiaries (“ADP” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Intercompany balances and transactions have been eliminated in consolidation.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the assets, liabilities, revenue, costs, expenses, and accumulated other comprehensive income that are reported in the Consolidated Financial Statements and footnotes thereto. Actual results may differ from those estimates.
Description of Business 
B. Description of Business. The Company is a provider of technology-based outsourcing solutions to employers and vehicle retailers and manufacturers. The Company classifies its operations into the following reportable segments: Employer Services, Professional Employer Organization (“PEO”) Services, and Dealer Services. The primary components of the “Other” segment are the results of operations of ADP Indemnity (a wholly-owned captive insurance company that provides workers' compensation and employer's liability deductible reimbursement insurance protection for PEO Services worksite employees), non-recurring gains and losses, miscellaneous processing services, such as customer financing transactions, and certain charges and expenses that have not been allocated to the reportable segments, such as stock-based compensation expense and the goodwill impairment charge.
Revenue Recognition 
C. Revenue Recognition. Revenues are primarily attributable to fees for providing services (e.g., Employer Services' payroll processing fees) as well as investment income on payroll funds, payroll tax filing funds and other Employer Services' client-related funds. The Company enters into agreements for a fixed fee per transaction (e.g., number of payees or number of payrolls processed). Fees associated with services are recognized in the period services are rendered and earned under service arrangements with clients where service fees are fixed or determinable and collectability is reasonably assured. Service fees are determined based on written price quotations or service agreements having stipulated terms and conditions that do not require management to make any significant judgments or assumptions regarding any potential uncertainties.

Interest income on collected but not yet remitted funds held for clients is recognized in revenues as earned, as the collection, holding and remittance of these funds are critical components of providing these services.

The Company also recognizes revenues associated with the sale of software systems and associated software licenses (e.g., Dealer Services' dealer management systems). For a majority of our software sales arrangements, which provide hardware, software licenses, installation, and post-contract customer support, revenues are recognized ratably over the software license term, as vendor-specific objective evidence of the fair values of the individual elements in the sales arrangement does not exist.

The Company assesses the collectability of revenues based primarily on the creditworthiness of the customer as determined by credit checks and analysis, as well as the customer's payment history.

PEO revenues are reported on the Statements of Consolidated Earnings and are reported net of direct pass-through costs, which are costs billed and incurred for PEO Services worksite employees, primarily consisting of payroll wages and payroll taxes. Benefits, workers' compensation, and state unemployment tax fees for worksite employees are included in PEO revenues and the associated costs are included in operating expenses.
Cash and Cash Equivalents, Policy 
D. Cash and Cash Equivalents. Investment securities with a maturity of ninety days or less at the time of purchase are considered cash equivalents. The fair value of our cash and cash equivalents approximates carrying value.
Corporate Investments and Funds held for Clients 
E. Corporate Investments and Funds Held for Clients. All of the Company's marketable securities are considered to be “available-for-sale” and, accordingly, are carried on the Consolidated Balance Sheets at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income on the Consolidated Balance Sheets until realized. Realized gains and losses from the sale of available-for-sale securities are determined on a specific-identification basis and are included in other income, net on the Statements of Consolidated Earnings.

If the fair value of an available-for-sale debt security is below its amortized cost, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery. If either of those two conditions were met, the Company would recognize a charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value. If the Company does not intend to sell a security or it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in accumulated other comprehensive income.

Premiums and discounts are amortized or accreted over the life of the related available-for-sale security as an adjustment to yield using the effective-interest method. Dividend and interest income are recognized when earned.
Fair Value of Financial Instruments, Policy 
F. Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date and is based upon the Company’s principal or most advantageous market for a specific asset or liability.

U.S. GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows:

Level 1 Fair value is determined based upon quoted prices for identical assets or liabilities that are traded in active markets.

Level 2 Fair value is determined based upon inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
· quoted prices for similar assets or liabilities in active markets;
· quoted prices for identical or similar assets or liabilities in markets that are not active;
· inputs other than quoted prices that are observable for the asset or liability; or
· inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Fair value is determined based upon inputs that are unobservable and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based upon the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).

Available-for-sale securities included in Level 1 are valued using closing prices for identical instruments that are traded on active exchanges. Over 99% of the Company's available-for-sale securities included in Level 2 are valued utilizing inputs obtained from an independent pricing service. To determine the fair value of the Company's Level 2 investments, a variety of inputs are utilized, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, new issue data, and monthly payment information. The Company reviews the values generated by the independent pricing service for reasonableness by comparing the valuations received from the independent pricing service to valuations from at least one other observable source. The Company has not adjusted the prices obtained from the independent pricing service. The Company has no available-for-sale securities included in Level 3.

The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy. In certain instances, the inputs used to measure fair value may meet the definition of more than one level of the fair value hierarchy. The significant input with the lowest level priority is used to determine the applicable level in the fair value hierarchy.
Long-Term Receivables 
G. Long-term Receivables. Long-term receivables relate to notes receivable from the sale of computer systems, primarily to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers. Unearned income from finance receivables represents the excess of gross receivables over the sales price of the computer systems financed. Unearned income is amortized using the effective-interest method to maintain a constant rate of return over the term of each contract.
Notes receivable aged over 30 days past due are considered delinquent and notes receivable aged over 60 days past due with known collection issues are placed on non-accrual status. Interest revenue is not recognized on notes receivable while on non-accrual status.  Cash payments received on non-accrual receivables are applied towards the principal.  When notes receivable on non-accrual status are again less than 60 days past due, recognition of interest revenue for notes receivable is resumed.
The allowance for doubtful accounts on long-term receivables is the Company's best estimate of the amount of probable credit losses related to the Company's existing note receivables.
Property, Plant and Equipment 
H. Property, Plant and Equipment. Property, plant and equipment is stated at cost and depreciated over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improvements. The estimated useful lives of assets are primarily as follows:
Data processing equipment
2 to 5 years
Buildings
20 to 40 years
Furniture and fixtures
3 to 7 years
Goodwill and Other Intangible Assets 

I. Goodwill. Goodwill is not amortized, but is instead tested for impairment annually and whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company performs this impairment test by first comparing the fair value of each reporting units to its carrying amount. If the carrying value for a reporting unit exceeds its fair value, the Company would then compare the implied fair value of goodwill to the carrying amount in order to determine the amount of the impairment, if any. The Company determines the estimated fair value of its reporting units using an equal weighted blended approach, which combines the income approach, which is the present value of expected cash flows, discounted at a risk-adjusted weighted-average cost of capital; and the market approach, which is based on using market multiples of companies in similar lines of business. Significant assumptions used in determining the fair value of our reporting units include projected revenue growth rates, profitability projections, working capital assumptions, the weighted average cost of capital, the determination of appropriate market comparison companies, and terminal growth rates. The Company had $3,052.6 million of goodwill as of June 30, 2013. Based on the fair value analysis completed in the fourth quarter of 2013, the Company concluded that goodwill was not impaired for any reporting units with the exception of the ADP AdvancedMD reporting unit, for which an impairment charge of $42.7 million was recorded.
Impairment of Long-Lived Assets 
J. Impairment of Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Foreign Currency Translations 
K. Foreign Currency Translation. The net assets of the Company's foreign subsidiaries are translated into U.S. dollars based on exchange rates in effect for each period, and revenues and expenses are translated at average exchange rates in the periods. Gains or losses from balance sheet translation are included in accumulated other comprehensive income on the Consolidated Balance Sheets. Currency transaction gains or losses, which are included in the results of operations, are immaterial for all periods presented.
Derivative Financial Instruments 
L. Foreign Currency Risk Management Programs and Derivative Financial Instruments. The Company transacts business in various foreign jurisdictions and is therefore exposed to market risk from changes in foreign currency exchange rates that could impact its consolidated results of operations, financial position, or cash flows.  The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments.  The Company does not use derivative financial instruments for trading purposes.  

Derivative financial instruments are measured at fair value and are recognized as assets or liabilities on the Consolidated Balance Sheets with changes in the fair value of the derivatives recognized in either net earnings from continuing operations or accumulated other comprehensive income, depending on the timing and designated purpose of the derivative.

There were no derivative financial instruments outstanding at June 30, 2013 or June 30, 2012.
Earnings Per Share (EPS) 
M. Earnings per Share (“EPS”). The calculations of basic and diluted EPS are as follows:
Years ended June 30,
 
Basic
 
Effect of Employee Stock Option Shares
 
Effect of
Employee
Restricted
Stock
Shares
 
Diluted
 
 
 

 
 

 
 

 
 

2013
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,364.1

 
 

 
 

 
$
1,364.1

Weighted average shares (in millions)
 
482.7

 
3.3

 
1.1

 
487.1

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2012
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,379.7

 
 

 
 

 
$
1,379.7

Weighted average shares (in millions)
 
487.3

 
3.8

 
1.1

 
492.2

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2011
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,245.0

 
 

 
 

 
$
1,245.0

Weighted average shares (in millions)
 
493.5

 
3.8

 
1.0

 
498.3

EPS from continuing operations
 
$
2.52

 
 

 
 

 
$
2.50


Options to purchase 1.2 million, 0.9 million, and 0.9 million shares of common stock for the year ended June 30, 2013 ("fiscal 2013"), the year ended June 30, 2012 ("fiscal 2012"), and the year ended June 30, 2011 ("fiscal 2011"), respectively, were excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price of outstanding common shares for the respective periods.

Stock-Based Compensation 
N. Stock-Based Compensation. The Company recognizes stock-based compensation expense in net earnings based on the fair value of the award on the date of the grant. The Company determines the fair value of stock options issued using a binomial option-pricing model. The binomial option-pricing model considers a range of assumptions related to volatility, dividend yield, risk-free interest rate, and employee exercise behavior. Expected volatilities utilized in the binomial option-pricing model are based on a combination of implied market volatilities, historical volatility of the Company's stock price, and other factors. Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial option-pricing model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of a stock option grant is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.
Internal Use Software 
O. Internal Use Software. Expenditures for major software purchases and software developed or obtained for internal use are capitalized and amortized over a three- to five-year period on a straight-line basis. The Company's policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. The Company also expenses internal costs related to minor upgrades and enhancements, as it is impractical to separate these costs from normal maintenance activities.
Computer Software to be Sold, Leased, or Otherwise Marketed 
P. Computer Software to be Sold, Leased, or Otherwise Marketed. The Company capitalizes certain costs of computer software to be sold, leased, or otherwise marketed. The Company's policy provides for the capitalization of all software production costs upon reaching technological feasibility for a specific product. Technological feasibility is attained when software products have a completed working model whose consistency with the overall product design has been confirmed by testing. Costs incurred prior to the establishment of technological feasibility are expensed as incurred. The establishment of technological feasibility requires judgment by management and in many instances is only attained a short time prior to the general release of the software. Upon the general release of the software product to customers, capitalization ceases and such costs are amortized over a three-year period on a straight-line basis. Maintenance-related costs are expensed as incurred.
Income Taxes 
Q. Income Taxes. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity's financial statements or tax returns. The Company is subject to the continuous examination of our income tax returns by the Internal Revenue Service (“IRS”) and other tax authorities.

There is a financial statement recognition threshold and measurement attribute for tax positions taken or expected to be taken in a tax return. Specifically, the likelihood of an entity's tax benefits being sustained must be “more likely than not,” assuming that these positions will be examined by taxing authorities with full knowledge of all relevant information prior to recording the related tax benefit in the financial statements. If a tax position drops below the “more likely than not” standard, the benefit can no longer be recognized. Assumptions, judgment, and the use of estimates are required in determining if the “more likely than not” standard has been met when developing the provision for income taxes. As of June 30, 2013 and 2012, the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $70.7 million, and $84.7 million, respectively.

If certain pending tax matters settle within the next twelve months, the total amount of unrecognized tax benefits may increase or decrease for all open tax years and jurisdictions. Based on current estimates, settlements related to various jurisdictions and tax periods could increase earnings up to $15 million. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, the current tax liability, and deferred taxes in the period in which the facts that give rise to a revision become known.
Workers' Compensation Costs 
R. Workers' Compensation Costs. The Company employs a third party actuary to assist in determining the estimated claim liability related to workers' compensation and employer's liability coverage for PEO Services worksite employees. In estimating ultimate loss rates, we utilize historical loss experience, exposure data, and actuarial judgment, together with a range of inputs which are primarily based upon the worksite employee's job responsibilities, their location, the historical frequency and severity of workers' compensation claims, and an estimate of future cost trends. For each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers' compensation claims cost estimates. The Company has secured specific per occurrence insurance that caps the exposure for each claim at $1 million per occurrence, and has also secured aggregate stop loss insurance that caps aggregate losses at a certain level in each policy year. Additionally, for fiscal 2013, the Company entered into a reinsurance arrangement to cover substantially all losses incurred by the Company for the fiscal 2013 policy year up to the $1 million per occurrence related to workers' compensation and employer's liability deductible reimbursement insurance protection for PEO services worksite employees.

Recently Issued Accounting Pronouncements 
S. Recently Issued Accounting Pronouncements. In July 2012, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income.” ASU 2011-05 requires entities to present net income and other comprehensive income in either a single continuous statement or in two separate, but consecutive, statements of net earnings and other comprehensive income. The Company has elected to present net earnings and other comprehensive income on two separate, but consecutive statements. The adoption of ASU 2011-05 did not have an impact on the Company’s consolidated results of operations, financial condition, or cash flows.

In July 2012, the Company adopted ASU 2011-08, “Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment.” ASU 2011-08 permits an entity to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is concluded that the fair value of a reporting unit is less than its carrying value based upon the qualitative assessment, it is necessary to perform the currently prescribed two-step goodwill impairment test. ASU 2011-08 does not change how goodwill is calculated or assigned to reporting units, nor does it revise the requirement to test goodwill annually for impairment. The adoption of ASU 2011-08 did not have an impact on the Company’s consolidated results of operations, financial condition, other comprehensive income, or cash flows.

In February 2013, the FASB issued ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.”  ASU 2013-02 requires entities to disclose the amount of income (loss) reclassified out of accumulated other comprehensive income to each respective line item on the income statement. The guidance allows companies to elect whether to disclose the reclassification either on the face of the income statement or in the notes to the financial statements, including cross-referencing other disclosures which provide additional details about these amounts.  ASU 2013-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The adoption of ASU 2013-02 will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
Summary of Significant Accounting Policies (Tables)
Estimated Useful Lives 
Data processing equipment
2 to 5 years
Buildings
20 to 40 years
Furniture and fixtures
3 to 7 years
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] 
Years ended June 30,
 
Basic
 
Effect of Employee Stock Option Shares
 
Effect of
Employee
Restricted
Stock
Shares
 
Diluted
 
 
 

 
 

 
 

 
 

2013
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,364.1

 
 

 
 

 
$
1,364.1

Weighted average shares (in millions)
 
482.7

 
3.3

 
1.1

 
487.1

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2012
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,379.7

 
 

 
 

 
$
1,379.7

Weighted average shares (in millions)
 
487.3

 
3.8

 
1.1

 
492.2

EPS from continuing operations
 
$
2.83

 
 

 
 

 
$
2.80

 
 
 
 
 
 
 
 
 
2011
 
 

 
 

 
 

 
 

Net earnings from continuing operations
 
$
1,245.0

 
 

 
 

 
$
1,245.0

Weighted average shares (in millions)
 
493.5

 
3.8

 
1.0

 
498.3

EPS from continuing operations
 
$
2.52

 
 

 
 

 
$
2.50


Other Income, Net (Tables)
Other Income, net
Years ended June 30,
 
2013
 
2012
 
2011
Interest income on corporate funds
 
$
(64.5
)
 
$
(85.2
)
 
$
(88.8
)
Realized gains on available-for-sale securities
 
(32.1
)
 
(32.1
)
 
(38.0
)
Realized losses on available-for-sale securities
 
3.5

 
7.7

 
3.6

Impairment losses on available-for-sale securities
 
—

 
5.8

 
—

Impairment losses on assets held for sale
 
—

 
2.2

 
11.7

Gains on sales of buildings
 
(2.2
)
 
—

 
(1.8
)
Gain on sale of assets
 
—

 
(66.0
)
 
—

Other, net
 
(0.9
)
 
(3.2
)
 
(3.3
)
Other income, net
 
$
(96.2
)
 
$
(170.8
)
 
$
(116.6
)
Divestiture (Tables)
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
Years ended June 30,
 
2013
 
2012
 
2011
Revenues
 
$
23.7

 
$
49.2

 
$
46.5

 
 
 
 
 
 
 
Earnings from discontinued operations before income taxes
 
8.0

 
14.2

 
14.7

Provision for income taxes
 
3.0

 
5.4

 
5.5

Net earnings from discontinued operations before gain on disposal of
discontinued operations
 
5.0

 
8.8

 
9.2

 
 
 
 
 
 
 
Gain on disposal of discontinued operations, less costs to sell
 
58.8

 
—

 
—

Provision for income taxes
 
22.1

 
—

 
—

Net gain on disposal of discontinued operations
 
36.7

 
—

 
—

 
 
 
 
 
 
 
Net earnings from discontinued operations
 
$
41.7

 
$
8.8

 
$
9.2

 
June 30, 2012
Assets:
 
Accounts receivable, net
$
7.6

Goodwill
93.3

Intangible assets, net
22.9

Other assets
1.2

 
 
Total assets
$
125.0

 
 
Liabilities:
 
Accounts payable
$
0.4

Accrued expenses and other current liabilities
0.1

Accrued payroll and payroll related expenses
2.3

Deferred revenues
22.7

Deferred income taxes
3.5

 
 
Total liabilities
$
29.0

Corporate Investments And Funds Held For Clients (Tables)
Available-for-sale Securities [Table Text Block] 
 
June 30, 2013
 
Amortized
Cost
 
Gross
Unrealized
 Gains
 
Gross
Unrealized
Losses
 
 Fair Value (A)
Type of issue:
 
 
 
 
 
 
 
Money market securities and other cash equivalents
$
5,431.2

 
$
—

 
$
—

 
$
5,431.2

Available-for-sale securities:
 

 
 

 
 

 
 

Corporate bonds
7,868.3

 
166.2

 
(56.7
)
 
7,977.8

U.S. Treasury and direct obligations of
U.S. government agencies
5,983.7

 
152.6

 
(37.4
)
 
6,098.9

Asset-backed securities
1,374.1

 
5.3

 
(19.7
)
 
1,359.7

Canadian government obligations and
Canadian government agency obligations
998.2

 
10.7

 
(4.5
)
 
1,004.4

Canadian provincial bonds
695.7

 
20.7

 
(5.6
)
 
710.8

Municipal bonds
536.9

 
16.7

 
(4.4
)
 
549.2

Other securities
1,094.4

 
46.3

 
(2.8
)
 
1,137.9

 
 
 
 
 
 
 
 
Total available-for-sale securities
18,551.3

 
418.5

 
(131.1
)
 
18,838.7

 
 
 
 
 
 
 
 
Total corporate investments and funds held for clients
$
23,982.5

 
$
418.5

 
$
(131.1
)
 
$
24,269.9

 (A) Included within available-for-sale securities are corporate investments with fair values of $342.0 million and funds held for clients with fair values of $18,496.7 million. At June 30, 2013, Level 1 securities included $9.5 million of corporate investments classified within "Other securities," all remaining available-for-sale securities were included in Level 2.
 
June 30, 2012
 
Amortized 
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value (B)
Type of issue:
 

 
 

 
 

 
 

Money market securities and other cash equivalents
$
5,111.1

 
$
—

 
$
—

 
$
5,111.1

Available-for-sale securities:
 

 
 

 
 

 
 

Corporate bonds
7,097.2

 
272.3

 
(1.5
)
 
7,368.0

U.S. Treasury and direct obligations of
U.S. government agencies
6,413.8

 
260.9

 
(0.1
)
 
6,674.6

Asset-backed securities
533.9

 
14.5

 
—

 
548.4

Canadian government obligations and
Canadian government agency obligations
994.2

 
23.4

 
(0.6
)
 
1,017.0

Canadian provincial bonds
620.8

 
35.4

 
(0.3
)
 
655.9

Municipal bonds
522.0

 
31.0

 
(0.1
)
 
552.9

Other securities
1,201.0

 
75.7

 
(0.1
)
 
1,276.6

 
 
 
 
 
 
 
 
Total available-for-sale securities
17,382.9

 
713.2

 
(2.7
)
 
18,093.4

 
 
 
 
 
 
 
 
Total corporate investments and funds held for clients
$
22,494.0

 
$
713.2

 
$
(2.7
)
 
$
23,204.5

(B) Included within available-for-sale securities are corporate investments with fair values of $117.3 million and funds held for clients with fair values of $17,976.1 million. At June 30, 2012, Level 1 securities included $20.6 million of corporate investments classified within "Other securities," all remaining available-for-sale securities were included in Level 2.
Classification Of Corporate Investments On The Consolidated Balance Sheets 
June 30,
 
2013
 
2012
Corporate investments:
 
 
 
 
Cash and cash equivalents
 
$
1,699.1

 
$
1,548.1

Short-term marketable securities
 
28.0

 
30.4

Long-term marketable securities
 
314.0

 
86.9

Total corporate investments
 
$
2,041.1

 
$
1,665.4

Schedule Of Investment Of Funds Held For Clients 
June 30,
 
2013
 
2012
Funds held for clients:
 
 
 
 
Restricted cash and cash equivalents held to satisfy client funds obligations
 
$
3,732.1

 
$
3,563.0

Restricted short-term marketable securities held to satisfy client funds obligations
 
1,407.7

 
2,954.1

Restricted long-term marketable securities held to satisfy client funds obligations
 
17,089.0

 
15,022.0

Total funds held for clients
 
$
22,228.8

 
$
21,539.1

Available-For-Sale Securities That Have Been In An Unrealized Loss Position 
The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2013, are as follows: 
 
Unrealized
losses
less than
12 months
 
Fair market
value less than
12 months
 
Unrealized
losses
greater than
12 months
 
Fair market
value greater
than 12 months
 
Total gross
unrealized
losses
 
Total fair
market value
Corporate bonds
$
(56.7
)
 
$
2,724.9

 
$
—

 
$
—

 
$
(56.7
)
 
$
2,724.9

U.S. Treasury and direct obligations of
U.S. government agencies
(37.4
)
 
1,374.6

 
—

 
—

 
(37.4
)
 
1,374.6

Asset-backed securities
(19.7
)
 
1,060.1

 
—

 
—

 
(19.7
)
 
1,060.1

Canadian government obligations and
Canadian government agency obligations
(4.5
)
 
444.7

 
—

 
—

 
(4.5
)
 
444.7

Canadian provincial bonds
(5.6
)
 
239.7

 
—

 
—

 
(5.6
)
 
239.7

Municipal bonds
(4.4
)
 
188.7

 
—

 
—

 
(4.4
)
 
188.7

Other securities
(2.8
)
 
109.3

 
—

 
—

 
(2.8
)
 
109.3

 
$
(131.1
)
 
$
6,142.0

 
$
—

 
$
—

 
$
(131.1
)
 
$
6,142.0


The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2012 are as follows: 
 
Unrealized
losses
less than
12 months
 
Fair market
value less than
12 months
 
Unrealized
losses
greater than
12 months
 
Fair market
value greater
than 12 months
 
Total gross
unrealized
losses
 
Total fair
market value
Corporate bonds
$
(1.1
)
 
$
234.8

 
$
(0.4
)
 
$
20.2

 
$
(1.5
)
 
$
255.0

U.S. Treasury and direct obligations of U.S. government agencies
(0.1
)
 
43.6

 
—

 
—

 
(0.1
)
 
43.6

Asset-backed securities
—

 
13.6

 
—

 
—

 
—

 
13.6

Canadian government obligations and
Canadian government agency obligations
(0.6
)
 
209.4

 
—

 
—

 
(0.6
)
 
209.4

Canadian provincial bonds
(0.3
)
 
58.5

 
—

 
—

 
(0.3
)
 
58.5

Municipal bonds
(0.1
)
 
22.8

 
—

 
—

 
(0.1
)
 
22.8

Other securities
(0.1
)
 
26.3

 
—

 
—

 
(0.1
)
 
26.3

 
$
(2.3
)
 
$
609.0

 
$
(0.4
)
 
$
20.2

 
$
(2.7
)
 
$
629.2

Expected Maturities Of Available-For-Sale Securities 
Due in one year or less
$
1,435.7

Due after one year to two years
3,470.9

Due after two years to three years
4,631.5

Due after three years to four years
3,233.3

Due after four years
6,067.3

 
 

Total available-for-sale securities
$
18,838.7

Receivables (Tables)
Schedule Of The Company's Receivables 
 
June 30, 2013
 
June 30, 2012
 
Current
 
Long-term
 
Current
 
Long-term
Trade receivables
$
1,564.8

 
$
—

 
$
1,355.7

 
$
—

Notes receivable
91.0

 
154.7

 
89.1

 
145.5

Less:
 

 
 

 
 

 
 

Allowance for doubtful accounts - trade receivables
(45.6
)
 
—

 
(40.7
)
 
—

Allowance for doubtful accounts - notes receivable
(5.3
)
 
(9.0
)
 
(5.4
)
 
(8.8
)
Unearned income - notes receivable
(6.6
)
 
(7.0
)
 
(7.0
)
 
(6.9
)

$
1,598.3

 
$
138.7

 
$
1,391.7

 
$
129.8

Long Term Receivable Maturities Table Text Block 
2015
 
$
67.2

2016
 
$
47.6

2017
 
$
28.8

2018
 
$
11.1

Total
 
$
154.7

Schedule Of The Allowance For Doubtful Accounts For Notes Receivable 
 
June 30, 2013
 
Notes Receivable
 
Reserve
 
Current
 
Long-term
 
Current
 
Long-term
Specific reserve
$
0.3

 
$
0.5

 
$
0.3

 
$
0.5

Non-specific reserve
90.7

 
154.2

 
5.0

 
8.5


$
91.0

 
$
154.7

 
$
5.3

 
$
9.0


 
June 30, 2012
 
Notes Receivable
 
Reserve
 
Current
 
Long-term
 
Current
 
Long-term
Specific reserve
$
0.4

 
$
0.6

 
$
0.4

 
$
0.6

Non-specific reserve
88.7

 
144.9

 
5.0

 
8.2


$
89.1

 
$
145.5

 
$
5.4

 
$
8.8

Rollforward Of The Allowance For Doubtful Accounts For Notes Receivable 
 
Current
 
Long-term
Balance at June 30, 2011
$
5.7

 
$
9.4

Incremental provision
0.6

 
0.2

Recoveries
—

 
0.4

Chargeoffs
(0.9
)
 
(1.2
)
Balance at June 30, 2012
$
5.4

 
$
8.8

Incremental provision
0.8

 
1.2

Recoveries
—

 
0.2

Chargeoffs
(0.9
)
 
(1.2
)
Balance at June 30, 2013
$
5.3

 
$
9.0

Property, Plant, and Equipment Property, Plant, and Equipment (Tables)
Property, Plant and Equipment [Table Text Block]
June 30,
 
2013
 
2012
 
 
 
 
 
Property, plant, and equipment:
 
 
 
 
Land and buildings
 
$
731.7

 
$
710.4

Data processing equipment
 
850.7

 
814.5

Furniture, leaseholds, and other
 
460.5

 
431.6

 
 
2,042.9

 
1,956.5

Less: accumulated depreciation
 
(1,314.2
)
 
(1,250.2
)
Property, plant, and equipment, net
 
$
728.7

 
$
706.3

Goodwill And Intangible Assets, Net (Tables)
Changes In Goodwill 
 
Employer
Services
 
PEO
Services
 
Dealer
Services
 
Total
Balance at June 30, 2011
$
1,841.7

 
$
4.8

 
$
1,133.8

 
$
2,980.3

Additions and other adjustments, net
106.8

 
—

 
56.2

 
163.0

Currency translation adjustments
(60.9
)
 
—

 
(20.4
)
 
(81.3
)
Balance at June 30, 2012
$
1,887.6

 
$
4.8

 
$
1,169.6

 
$
3,062.0

Additions and other adjustments, net
29.4

 
—

 
0.8

 
30.2

Currency translation adjustments
4.5

 
—

 
(1.4
)
 
3.1

Goodwill impairment
(42.7
)
 
—

 
—

 
(42.7
)
Balance at June 30, 2013
$
1,878.8

 
$
4.8

 
$
1,169.0

 
$
3,052.6

Components Of Finite-Lived Intangible Assets 
June 30,
 
2013
 
2012
 
 
 
 
 
Intangible assets:
 
 
 
 
Software and software licenses
 
$
1,511.1

 
$
1,410.9

Customer contracts and lists
 
848.9

 
832.7

Other intangibles
 
241.7

 
241.6

 
 
2,601.7

 
2,485.2

Less accumulated amortization:
 
 

 
 

Software and software licenses
 
(1,239.5
)
 
(1,145.8
)
Customer contracts and lists
 
(534.3
)
 
(479.1
)
Other intangibles
 
(184.7
)
 
(172.0
)
 
 
(1,958.5
)
 
(1,796.9
)
Intangible assets, net
 
$
643.2

 
$
688.3

Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense 
 
Amount
Twelve months ending June 30, 2014
$
157.3

Twelve months ending June 30, 2015
$
128.0

Twelve months ending June 30, 2016
$
89.8

Twelve months ending June 30, 2017
$
67.5

Twelve months ending June 30, 2018
$
43.5

Employee Benefit Plans (Tables)
Components Of Stock-Based Compensation Expense 
Years ended June 30,
 
2013
 
2012
 
2011
Operating expenses
 
$
17.9

 
$
17.2

 
$
16.5

Selling, general and administrative expenses
 
64.0

 
62.6

 
59.9

System development and programming costs
 
14.5

 
14.3

 
13.9

Total pretax stock-based compensation expense
 
$
96.4

 
$
94.1

 
$
90.3

 
 
 
 
 
 
 
Income tax benefit
 
$
34.3

 
$
33.5

 
$
32.3

Changes In Stock Options Outstanding 
Year ended June 30, 2013
 
Number
of Options
(in thousands)
 
Weighted
Average Price
(in dollars)
Options outstanding, beginning of year
 
16,187

 
$
41

Options granted
 
1,168

 
$
60

Options exercised
 
(6,070
)
 
$
38

Options canceled
 
(175
)
 
$
41

Options outstanding, end of year
 
11,110

 
$
44

Options exercisable, end of year
 
8,662

 
$
41

Shares available for future grants, end of year
 
28,459

 
 
Shares reserved for issuance under stock option plans, end of year
 
39,569

 
 
Time Based Restricted Shares and Units 
Year ended June 30, 2013
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2012
 
358

 
—

Restricted shares/units granted
 
1,171

 
284

Restricted shares/units vested
 
(168
)
 
—

Restricted shares/units forfeited
 
(48
)
 
(4
)
Restricted shares/units outstanding at June 30, 2013
 
1,313

 
280

Performance Based Restricted shares and units 
Year ended June 30, 2013
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding, beginning of year
 
1,474

 
295

Restricted shares/units granted
 
542

 
30

Restricted shares/units vested
 
(1,329
)
 
(275
)
Restricted shares/units forfeited
 
(166
)
 
(12
)
Restricted shares/units outstanding, end of year
 
521

 
38

Assumptions Used To Estimate Fair Value For Stock Options Granted 
 
2013
 
2012
 
2011
Risk-free interest rate
0.8% - 1.0%

 
0.8% - 1.0%

 
1.4% - 2.4%

Dividend yield
2.7% - 2.9%

 
2.8% - 3.1%

 
2.9% - 3.3%

Weighted average volatility factor
23.5% - 24.4%

 
24.9% - 25.9%

 
24.5% - 24.9%

Weighted average expected life (in years)
5.3 - 5.4

 
5.2 - 5.3

 
5.1 - 5.2

Weighted average fair value (in dollars)
$
8.63

 
$
8.46

 
$
7.59

Weighted average fair value of restricted stock granted 
Year ended June 30,
2013
 
 
Performance-based restricted stock
$
55.13

Time-based restricted stock
$
58.72

Schedule of Net Funded Status 
June 30,
 
2013
 
2012
 
 
 
 
 
Change in plan assets:
 
 
 
 
Fair value of plan assets at beginning of year
 
$
1,469.5

 
$
1,313.3

Actual return on plan assets
 
121.0

 
106.6

Employer contributions
 
135.3

 
91.6

Currency translation adjustments
 
(1.5
)
 
(4.6
)
Benefits paid
 
(48.2
)
 
(37.4
)
Fair value of plan assets at end of year
 
$
1,676.1

 
$
1,469.5

 
 
 
 
 
Change in benefit obligation:
 
 
 
 
Benefit obligation at beginning of year
 
$
1,412.1

 
$
1,178.8

Service cost
 
67.2

 
57.2

Interest cost
 
55.1

 
62.1

Actuarial (gains)/losses
 
(58.6
)
 
159.4

Currency translation adjustments
 
0.2

 
(10.8
)
Benefits paid
 
(48.2
)
 
(37.4
)
Acquisitions
 
—

 
2.8

Projected benefit obligation at end of year
 
$
1,427.8

 
$
1,412.1

 
 
 
 
 
Funded status - plan assets less benefit obligations
 
$
248.3

 
$
57.4

Schedule of Amounts Recognized in Balance Sheet 
June 30,
 
2013
 
2012
 
 
 
 
 
Noncurrent assets
 
$
362.6

 
$
170.3

Current liabilities
 
(4.7
)
 
(4.3
)
Noncurrent liabilities
 
(109.6
)
 
(108.6
)
Net amount recognized
 
$
248.3

 
$
57.4

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets 
June 30,
 
2013
 
2012
 
 
 
 
 
Projected benefit obligation
 
$
127.7

 
$
171.5

Accumulated benefit obligation
 
$
115.3

 
$
161.8

Fair value of plan assets
 
$
14.2

 
$
60.8

Components Of Net Pension Expense 
 
 
2013
 
2012
 
2011
Service cost – benefits earned during the period
 
$
67.2

 
$
57.2

 
$
52.3

Interest cost on projected benefits
 
55.1

 
62.1

 
56.6

Expected return on plan assets
 
(109.5
)
 
(97.6
)
 
(88.5
)
Net amortization and deferral
 
30.9

 
15.0

 
20.1

Net pension expense
 
$
43.7

 
$
36.7

 
$
40.5

Schedule of Assumptions Used 
Years ended June 30,
 
2013
 
2012
 
 
 
 
 
Discount rate
 
4.50
%
 
3.90
%
Increase in compensation levels
 
4.00
%
 
4.00
%
Defined Benefit Plan Assumptions Used Calculating Net Pension Expense 
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Discount rate
 
3.90
%
 
5.40
%
 
5.25
%
Expected long-term rate of return on assets
 
7.25
%
 
7.25
%
 
7.25
%
Increase in compensation levels
 
4.00
%
 
4.00
%
 
5.50
%
Schedule of Allocation of Plan Assets 
 
 
2013
 
2012
 
 
 
 
 
U.S. fixed income securities
 
31
%
 
41
%
U.S. equity securities
 
21
%
 
41
%
International equity securities
 
21
%
 
18
%
Global equity securities
 
27
%
 
—
%
 
 
100
%
 
100
%
Defined Benefit Plan Target Allocation Percentage 
U.S. fixed income securities
35% - 45%
U.S. equity securities
14% - 24%
International equity securities
11% - 21%
Global equity securities
20% - 30%
Fair Value, Measurement Inputs, Disclosure 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
1,050.7

 
$
—

 
$
1,050.7

U.S. government securities
 
—

 
228.3

 
—

 
228.3

Mutual funds
 
79.2

 
—

 
—

 
79.2

Corporate and municipal bonds
 
—

 
252.5

 
—

 
252.5

Mortgage-backed security bonds
 
—

 
22.7

 
—

 
22.7

Total pension assets
 
$
79.2

 
$
1,554.2

 
$
—

 
$
1,633.4


In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $42.7 million as of June 30, 2013, which have been classified as Level 2 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2012:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
583.5

 
$
—

 
$
583.5

U.S. government securities
 
—

 
272.5

 
—

 
272.5

Mutual funds
 
269.6

 
—

 
—

 
269.6

Corporate and municipal bonds
 
—

 
272.8

 
—

 
272.8

Mortgage-backed security bonds
 
—

 
13.9

 
—

 
13.9

Total pension assets
 
$
269.6

 
$
1,142.7

 
$
—

 
$
1,412.3

Income Taxes Income Taxes (Tables)
Income Tax From Continuing Operations Provision For Income Tax Components Disclosure [Text Block] 
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Earnings from continuing operations before income taxes:
 
 
 
 
 
 
United States
 
$
1,757.6

 
$
1,874.4

 
$
1,660.4

Foreign
 
326.7

 
233.5

 
257.6

 
 
$
2,084.3

 
$
2,107.9

 
$
1,918.0

Schedule Of Components Of Provision (Benefit) For Income Taxes [Text Block] 
Years ended June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Current:
 
 
 
 
 
 
Federal
 
$
539.2

 
$
537.6

 
$
446.4

Foreign
 
105.9

 
87.3

 
96.9

State
 
50.5

 
67.4

 
24.4

Total current
 
695.6

 
692.3

 
567.7

 
 
 
 
 
 
 
Deferred:
 
 
 
 
 
 
Federal
 
35.2

 
48.4

 
93.7

Foreign
 
(15.0
)
 
(9.3
)
 
(1.8
)
State
 
4.4

 
(3.2
)
 
13.4

Total deferred
 
24.6

 
35.9

 
105.3

Total provision for income taxes
 
$
720.2

 
$
728.2

 
$
673.0

Reconciliation Between Federal Statutory Tax And Effective Tax Rate [Text Block] 
Years ended June 30,
 
2013
 
%
 
2012
 
%
 
2011
 
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Provision for taxes at U.S. statutory rate
 
$
729.6

 
35.0

 
$
737.8

 
35.0

 
$
671.4

 
35.0

 
 
 
 
 
 
 
 
 
 
 
 
 
Increase (decrease) in provision from:
 
 
 
 
 
 
 
 
 
 
 
 
State taxes, net of federal tax
 
35.3

 
1.7

 
37.6

 
1.8

 
28.7

 
1.5

U.S. tax on foreign income
 
85.3

 
4.1

 
51.4

 
2.5

 
30.3

 
1.6

Utilization of foreign tax credits
 
(94.4
)
 
(4.5
)
 
(51.7
)
 
(2.5
)
 
(26.0
)
 
(1.3
)
Section 199 - Qualified production activities
 
(22.3
)
 
(1.1
)
 
(22.4
)
 
(1.1
)
 
(18.2
)
 
(1.0
)
Other (A)
 
(13.3
)
 
(0.6
)
 
(24.5
)
 
(1.2
)
 
(13.2
)
 
(0.7
)
 
 
$
720.2

 
34.6

 
$
728.2

 
34.5

 
$
673.0

 
35.1

Components Of Deferred Tax Assets And Liabilities [Text Block] 
Years ended June 30,
 
2013
 
2012
 
 
 
 
 
Deferred tax assets:
 
 
 
 
Accrued expenses not currently deductible
 
$
223.7

 
$
228.0

Stock-based compensation expense
 
84.1

 
91.1

Net operating losses
 
98.1

 
102.0

Other
 
39.5

 
16.9

 
 
445.4

 
438.0

Less: valuation allowances
 
(49.4
)
 
(54.8
)
Deferred tax assets, net
 
$
396.0

 
$
383.2

 
 
 
 
 
Deferred tax liabilities:
 
 
 
 
Prepaid retirement benefits
 
$
146.2

 
$
88.9

Deferred revenue
 
62.9

 
69.3

Fixed and intangible assets
 
235.3

 
246.4

Prepaid expenses
 
88.9

 
84.8

Unrealized investment gains, net
 
99.8

 
247.0

Tax on unrepatriated earnings
 
12.3

 
14.1

Other
 
7.3

 
4.1

Deferred tax liabilities
 
$
652.7

 
$
754.6

Net deferred tax liabilities
 
$
256.7

 
$
371.4

Summary of Income Tax Contingencies [Table Text Block] 
 
 
Fiscal 2013
 
Fiscal 2012
 
Fiscal 2011
 
 
 
 
 
 
 
Unrecognized tax benefits at beginning of the year
 
$
84.7

 
$
105.7

 
$
107.2

Additions for tax positions
 
5.0

 
8.0

 
9.7

Reductions for tax positions
 
—

 
(0.8
)
 
(2.4
)
Additions for tax positions of prior periods
 
5.3

 
13.0

 
17.3

Reductions for tax positions of prior periods
 
(3.7
)
 
(21.6
)
 
(23.3
)
Settlement with tax authorities
 
(12.0
)
 
(4.2
)
 
(4.5
)
Expiration of the statute of limitations
 
(9.7
)
 
(9.8
)
 
(0.4
)
Impact of foreign exchange rate fluctuations
 
1.1

 
(5.6
)
 
2.1

Unrecognized tax benefit at end of year
 
$
70.7

 
$
84.7

 
$
105.7

Summary of Income Tax Examinations [Table Text Block] 
Taxing Jurisdiction
 
Fiscal Years under Examination
U.S. (IRS)
 
2012-2013
California
 
2006-2008
Illinois
 
2004-2009
New York
 
2007-2009
New Jersey
 
2002-2009
France
 
2010-2012
Commitments And Contingencies Contractual Commitments Contingencies and Off-Balance Sheet Arrangements (Tables)
Schedule Of Operating Leases Future Minimum Payments Due [Table Text Block]
Years ending June 30,
 
 
 
2014
$
177.4

2015
137.0

2016
85.7

2017
48.2

2018
33.1

Thereafter
28.8

 
$
510.2

Accumulated Other Comprehensive Income (Tables)
Schedule Of Comprehensive Income [Text Block]
June 30,
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
Currency translation adjustments
 
$
39.6

 
$
42.0

 
$
183.1

Unrealized net gain on available-for-sale
     securities, net of tax
 
186.7

 
461.3

 
369.8

Pension liability adjustment, net of tax
 
(210.9
)
 
(273.1
)
 
(185.8
)
Accumulated other comprehensive income
 
$
15.4

 
$
230.2

 
$
367.1

Financial Data By Segment (Tables)
Schedule of Segment Reporting Information, by Segment [Table Text Block] 
 
 
 
 
 
 
 
 
 
 
Reconciling Items
 
 
 
 
Employer Services
 
PEO Services
 
Dealer Services
 
Other
 
Foreign Exchange
 
Client Fund Interest
 
Cost of Capital Charge
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
7,914.0

 
$
1,973.2

 
$
1,813.7

 
$
1.7

 
$
39.9

 
$
(432.4
)
 
$
—

 
$
11,310.1

Earnings from continuing
   operations before income taxes
 
2,134.2

 
199.2

 
335.7

 
(272.8
)
 
7.4

 
(432.4
)
 
113.0

 
2,084.3

Assets from continuing
   operations
 
24,174.9

 
411.4

 
696.8

 
6,985.0

 
—

 
—

 
—

 
32,268.1

Capital expenditures
    from continuing operations
 
57.9

 
0.6

 
35.1

 
81.2

 
—

 
—

 
—

 
174.8

Depreciation and amortization
 
212.3

 
1.4

 
97.0

 
119.3

 
—

 
—

 
(113.0
)
 
317.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
7,388.5

 
$
1,771.4

 
$
1,661.3

 
$
5.5

 
$
96.4

 
$
(307.1
)
 
$
—

 
$
10,616.0

Earnings from continuing
   operations before income taxes
 
1,949.2

 
170.6

 
277.6

 
(102.0
)
 
3.1

 
(307.1
)
 
116.5

 
2,107.9

Assets from continuing
   operations
 
23,326.8

 
376.5

 
685.9

 
6,303.2

 
—

 
—

 
—

 
30,692.4

Capital expenditures
    from continuing operations
 
39.9

 
1.2

 
39.7

 
65.4

 
—

 
—

 
—

 
146.2

Depreciation and amortization
 
209.0

 
1.2

 
99.9

 
126.1

 
—

 
—

 
(116.5
)
 
319.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from continuing
     operations
 
$
6,878.3

 
$
1,543.9

 
$
1,513.5

 
$
12.9

 
$
97.2

 
$
(212.8
)
 
$
—

 
$
9,833.0

Earnings from continuing
   operations before income taxes
 
1,831.9

 
137.3

 
231.3

 
(178.1
)
 
(1.0
)
 
(212.8
)
 
109.4

 
1,918.0

Assets from continuing
   operations
 
27,034.4

 
262.1

 
677.4

 
6,138.4

 
—

 
—

 
—

 
34,112.3

Capital expenditures
    from continuing operations
 
51.3

 
1.2

 
34.4

 
97.9

 
—

 
—

 
—

 
184.8

Depreciation and amortization
 
201.6

 
1.1

 
99.3

 
122.0

 
—

 
—

 
(109.4
)
 
314.6

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] 
 
 
United States
 
Europe
 
Canada
 
Other
 
Total
 
 
 
 
 
 
 
 
 
 
 
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
9,114.9

 
$
1,279.1

 
$
464.9

 
$
451.2

 
$
11,310.1

Assets from continuing operations
 
$
27,327.0

 
$
2,261.2

 
$
2,182.7

 
$
497.2

 
$
32,268.1

 
 
 
 
 
 
 
 
 
 
 
Years ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
8,493.3

 
$
1,269.8

 
$
447.5

 
$
405.4

 
$
10,616.0

Assets from continuing operations
 
$
26,201.9

 
$
1,969.7

 
$
2,130.5

 
$
390.3

 
$
30,692.4

 
 
 
 
 
 
 
 
 
 
 
Years ended June 30, 2011
 
 
 
 
 
 
 
 
 
 
Revenues from continuing operations
 
$
7,883.8

 
$
1,190.6

 
$
428.2

 
$
330.4

 
$
9,833.0

Assets from continuing operations
 
$
29,168.8

 
$
2,027.6

 
$
2,497.6

 
$
418.3

 
$
34,112.3

Quarterly Financial Results (Tables)
Schedule of Quarterly Financial Information
 
 
First
Quarter
 
Second Quarter
 
Third
Quarter
 
Fourth
Quarter (A)
Year ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
2,637.5

 
$
2,747.8

 
$
3,114.3

 
$
2,810.5

Costs of revenues
 
$
1,586.5

 
$
1,624.3

 
$
1,745.9

 
$
1,692.8

Gross profit
 
$
1,051.0

 
$
1,123.5

 
$
1,368.4

 
$
1,117.7

Net earnings from continuing operations
 
$
302.5

 
$
352.0

 
$
482.7

 
$
227.0

Basic earnings per share from continuing operations
 
$
0.63

 
$
0.73

 
$
1.00

 
$
0.47

Diluted earnings per share from continuing operations
 
$
0.62

 
$
0.72

 
$
0.99

 
$
0.47

 
 
 
 
 
 
 
 
 
 
 
First
Quarter
 
Second Quarter (B)
 
Third
Quarter
 
Fourth
Quarter
Year ended June 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
$
2,510.9

 
$
2,570.7

 
$
2,910.9

 
$
2,623.6

Costs of revenues
 
$
1,500.4

 
$
1,513.7

 
$
1,618.2

 
$
1,582.0

Gross profit
 
$
1,010.5

 
$
1,057.0

 
$
1,292.7

 
$
1,041.6

Net earnings from continuing operations
 
$
300.4

 
$
372.8

 
$
450.2

 
$
256.2

Basic earnings per share from continuing operations
 
$
0.62

 
$
0.77

 
$
0.92

 
$
0.53

Diluted earnings per share from continuing operations
 
$
0.61

 
$
0.76

 
$
0.91

 
$
0.52


(A) Net earnings from continuing operations and diluted earnings per share from continuing operations includes the impact of a goodwill impairment charge related to ADP AdvancedMD, which decreased net earnings from continuing operations by $42.7 million and diluted earnings per share from continuing operations by $0.09.

(B) Net earnings from continuing operations and diluted earnings per share from continuing operations includes the impact of a gain on sale of assets related to the rights and obligations to resell a third-party management platform which increased net earnings from continuing operations by $41.2 million and diluted earnings per share from continuing operations by $0.08.
Summary of Significant Accounting Policies (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2013
D
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Percent of Level Two Investment Pricing Inputs Provided by Independent Pricing Service
99.00% 
 
 
 
 
 
 
 
99.00% 
 
 
 
Minimum days receivable considered delinquent
 
 
 
 
 
 
 
 
30 
 
 
 
Financing Receivable, Nonaccrual Status, Minimum Number of Days Past Due
 
 
 
 
 
 
 
 
60 
 
 
 
Number of days to resume interest revenue recognition
 
 
 
 
 
 
 
 
60 
 
 
 
Goodwill
$ 3,052.6 
 
 
 
$ 3,062.0 
 
 
 
$ 3,052.6 
$ 3,062.0 
$ 2,980.3 
 
Goodwill, Impairment Loss
 
 
 
 
 
 
 
 
42.7 
0 
0 
 
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest
227.0 1
482.7 
352.0 
302.5 
256.2 
450.2 
372.8 2
300.4 
1,364.1 
1,379.7 
1,245.0 
 
Weighted Average Number of Shares Outstanding, Basic
 
 
 
 
 
 
 
 
482.7 
487.3 
493.5 
 
Incremental Common Shares Attributable to Call Options and Warrants
 
 
 
 
 
 
 
 
3.3 
3.8 
3.8 
 
Effect of Employee Restricted stock Shares On Weighted Average Number of Diluted Shares Outstanding
 
 
 
 
 
 
 
 
1.1 
1.1 
1.0 
 
Weighted Average Number of Shares Outstanding, Diluted
 
 
 
 
 
 
 
 
487.1 
492.2 
498.3 
 
Options excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price
 
 
 
 
 
 
 
 
1.2 
0.9 
0.9 
 
Income (Loss) from Continuing Operations, Per Basic Share
$ 0.47 
$ 1.00 
$ 0.73 
$ 0.63 
$ 0.53 
$ 0.92 
$ 0.77 
$ 0.62 
$ 2.83 
$ 2.83 
$ 2.52 
 
Income (Loss) from Continuing Operations, Per Diluted Share
$ 0.47 1
$ 0.99 
$ 0.72 
$ 0.62 
$ 0.52 
$ 0.91 
$ 0.76 2
$ 0.61 
$ 2.80 
$ 2.80 
$ 2.50 
 
Unrecognized Tax Benefits
70.7 
 
 
 
84.7 
 
 
 
70.7 
84.7 
105.7 
107.2 
Tax Settlements Future Impact Potential On Earnings Maximum
 
 
 
 
 
 
 
 
15.0 
 
 
 
Reinsurance Recoverables
1 
 
 
 
 
 
 
 
1 
 
 
 
Worker's Compensation per occurrence reinsurance
$ 1 
 
 
 
 
 
 
 
$ 1 
 
 
 
Internal Use Software Life of Asset
 
 
 
 
 
 
 
 
3 years 
5 years 
 
 
Internally Developed Software Amortization
 
 
 
 
 
 
 
 
3 years 
 
 
 
Minimum [Member] |
Data Processing Equipment [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
2 years 
 
 
 
Minimum [Member] |
Building [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
20 years 
 
 
 
Minimum [Member] |
Furniture and Fixtures [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
3 years 
 
 
 
Maximum [Member] |
Data Processing Equipment [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
5 years 
 
 
 
Maximum [Member] |
Building [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
40 years 
 
 
 
Maximum [Member] |
Furniture and Fixtures [Member]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Property, Plant, and Equipment Useful Life
 
 
 
 
 
 
 
 
7 years 
 
 
 
Other Income, Net (Other Income, Net) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
building
Jun. 30, 2012
building
Jun. 30, 2011
Component of Other Income, Nonoperating [Line Items]
 
 
 
Interest income on corporate funds
$ (64.5)
$ (85.2)
$ (88.8)
Realized gains on available-for-sale securities
(32.1)
(32.1)
(38.0)
Realized losses on available-for-sale securities
3.5 
7.7 
3.6 
Impairment Losses on Available-for-sale Securities
0 
5.8 
0 
Impairment of Long-Lived Assets to be Disposed of
0 
2.2 
11.7 
Gain (Loss) on Sale of Properties
(2.2)
0 
(1.8)
Gain (Loss) on Disposition of Assets
0 
(66.0)
0 
Other, net
(0.9)
(3.2)
(3.3)
Other income, net
(96.2)
(170.8)
(116.6)
Number of buildings sold
2 
2 
 
Investment Building and Building Improvements
 
$ 6.9 
 
Acquisitions (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
business
Jun. 30, 2012
business
Jun. 30, 2011
business
Business Acquisition [Line Items]
 
 
 
Contingent Payment
$ 14.5 
 
 
Number of businesses acquired
2 
7 
9 
Business Acquisition, Cost of Acquired Entity, Purchase Price
40.4 
292.3 
776.1 
Business Acquisition, Purchase Price Allocation, Goodwill Amount
29.5 
182.6 
543.6 
Acquired Finite-lived Intangible Asset, Amount
13.5 
90.0 
246.4 
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life
8 years 
11 years 
12 years 
Contingent payments relating to previously consummated acquisitions
 
$ 2.8 
$ 0.8 
Divestiture (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Disposal Date
Dec. 17, 2012 
 
 
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax [Abstract]
 
 
 
Revenues
$ 23.7 
$ 49.2 
$ 46.5 
Earnings from discontinued operations before income taxes
8.0 
14.2 
14.7 
Provision for income taxes
3.0 
5.4 
5.5 
Net earnings from discontinued operations before gain on disposal of discontinued operations
5.0 
8.8 
9.2 
Gain on disposal of discontinued operations, less costs to sell
58.8 
0 
0 
Provision of income taxes
22.1 
0 
0 
Net gain on disposal of discontinued operations
36.7 
0 
0 
Net earnings from discontinued operations
41.7 
8.8 
9.2 
Assets of Disposal Group, Including Discontinued Operation [Abstract]
 
 
 
Accounts receivable, net
 
7.6 
 
Goodwill
 
93.3 
 
Intangible assets, net
 
22.9 
 
Other assets
 
1.2 
 
Total assets
 
125.0 
 
Liabilities of Disposal Group, Including Discontinued Operation [Abstract]
 
 
 
Accounts payable
 
0.4 
 
Accrued expenses and other current liabilities
 
0.1 
 
Accrued payroll and payroll related expenses
 
2.3 
 
Deferred Revenues
 
22.7 
 
Deferred Income Taxes
 
3.5 
 
Total liabilities
 
$ 29.0 
 
Corporate Investments And Funds Held For Clients (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
$ 18,838.7 1
$ 18,093.4 2
Earliest corporate bond maturity date
July 2013 
 
Latest corporate bond maturity date
June 2023 
 
Earliest non-callable debt maturity date
July 2013 
 
Latest non-callable debt maturity date
May 2023 
 
Length of shortest cash flow of residential mortgages used as collateral for companies mortgage backed securities (in years)
15 years 
 
Length of longest cash flow of residential mortgages used as collateral for company's mortgage backed securities (in years)
30 years 
 
Client Fund Obligation repayment period
1 year 
 
Client funds obligations
21,956.3 
20,856.2 
Client funds investments with original maturities
90 days or less 
 
Percentage of the available-for-sale securities were rated AAA or AA
83.00% 
 
Federal Home Loan Banks [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
4,325.4 
4,189.1 
Federal Farm Credit Banks [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
1,229.0 
1,134.1 
Fixed Rate Credit Card [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
904.5 
323.0 
Asset-Backed Auto Loan Receivables [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
315.7 
85.1 
Rate Reduction [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
95.4 
140.0 
Supranational Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
426.9 
427.7 
Sovereign Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
415.4 
405.0 
Commercial Mortgage Backed Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
163.5 
282.3 
Residential Mortgage-Backed Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
112.6 
135.3 
Fair Value, Inputs, Level 1 [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
9.5 
20.6 
Funds Held For Clients [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Available-for-sale securities - fair value
$ 18,496.7 
$ 17,976.1 
Corporate Investments And Funds Held For Clients (Corporate Investments And Funds Held For Clients) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Schedule of Available-for-sale Securities [Line Items]
 
 
Money market securities and other cash equivalents - Amortized Cost
$ 5,431.2 
$ 5,111.1 
Money market securities and other cash equivalents - Fair Value
5,431.2 
5,111.1 
Total available-for-sale securities - Amortized Cost
18,551.3 
17,382.9 
Total available-for-sale securities - Gross Unrealized Gains
418.5 
713.2 
Total available-for-sale securities - Gross Unrealized Losses
(131.1)
(2.7)
Total available-for-sale securities - Fair Value
18,838.7 1
18,093.4 2
Total corporate investments and funds held for clients - Amortized Cost
23,982.5 
22,494.0 
Total corporate investments and funds held for clients - Gross Unrealized Gains
418.5 
713.2 
Total corporate investments and funds held for clients - Gross Unrealized Losses
(131.1)
(2.7)
Total corporate investments and funds held for clients - Fair Value
24,269.9 
23,204.5 
Corporate Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
7,868.3 
7,097.2 
Total available-for-sale securities - Gross Unrealized Gains
166.2 
272.3 
Total available-for-sale securities - Gross Unrealized Losses
(56.7)
(1.5)
Total available-for-sale securities - Fair Value
7,977.8 1
7,368.0 2
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
5,983.7 
6,413.8 
Total available-for-sale securities - Gross Unrealized Gains
152.6 
260.9 
Total available-for-sale securities - Gross Unrealized Losses
(37.4)
(0.1)
Total available-for-sale securities - Fair Value
6,098.9 1
6,674.6 2
Asset-Backed Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
1,374.1 
533.9 
Total available-for-sale securities - Gross Unrealized Gains
5.3 
14.5 
Total available-for-sale securities - Gross Unrealized Losses
(19.7)
0 
Total available-for-sale securities - Fair Value
1,359.7 1
548.4 2
Canadian Government Obligations And Canadian Government Agency Obligations [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
998.2 
994.2 
Total available-for-sale securities - Gross Unrealized Gains
10.7 
23.4 
Total available-for-sale securities - Gross Unrealized Losses
(4.5)
(0.6)
Total available-for-sale securities - Fair Value
1,004.4 1
1,017.0 2
Canadian Provincial Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
695.7 
620.8 
Total available-for-sale securities - Gross Unrealized Gains
20.7 
35.4 
Total available-for-sale securities - Gross Unrealized Losses
(5.6)
(0.3)
Total available-for-sale securities - Fair Value
710.8 1
655.9 2
Municipal Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
536.9 
522.0 
Total available-for-sale securities - Gross Unrealized Gains
16.7 
31.0 
Total available-for-sale securities - Gross Unrealized Losses
(4.4)
(0.1)
Total available-for-sale securities - Fair Value
549.2 1
552.9 2
Other Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Amortized Cost
1,094.4 
1,201.0 
Total available-for-sale securities - Gross Unrealized Gains
46.3 
75.7 
Total available-for-sale securities - Gross Unrealized Losses
(2.8)
(0.1)
Total available-for-sale securities - Fair Value
1,137.9 1
1,276.6 2
Corporate Investments [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Fair Value
342.0 
117.3 
Funds Held For Clients [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Total available-for-sale securities - Fair Value
$ 18,496.7 
$ 17,976.1 
Corporate Investments And Funds Held For Clients (Classification Of Corporate Investments On The Consolidated Balance Sheets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Corporate Investments And Funds Held For Clients [Abstract]
 
 
 
 
Cash and cash equivalents
$ 1,699.1 1
$ 1,548.1 
$ 1,389.4 
$ 1,643.3 
Short-term marketable securities
28.0 
30.4 
 
 
Long-term marketable securities
314.0 1
86.9 
 
 
Total corporate investments
$ 2,041.1 
$ 1,665.4 
 
 
Corporate Investments And Funds Held For Clients (Schedule Of Investment Of Funds Held For Clients) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Corporate Investments And Funds Held For Clients [Abstract]
 
 
Restricted cash and cash equivalents held to satisfy client funds obligations
$ 3,732.1 
$ 3,563.0 
Restricted short-term marketable securities held to satisfy client funds obligations
1,407.7 
2,954.1 
Restricted long-term marketable securities held to satisfy client funds obligations
17,089.0 
15,022.0 
Total funds held for clients
$ 22,228.8 
$ 21,539.1 
Corporate Investments And Funds Held For Clients (Available-For-Sale Securities That Have Been In An Unrealized Loss Position) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
$ (131.1)
$ (2.3)
Fair market value of securities in unrealized loss position less than 12 months
6,142.0 
609.0 
Unrealized losses greater than 12 months
0 
(0.4)
Fair market value of securities in unrealized loss positions greater than 12 months
0 
20.2 
Total gross unrealized losses
(131.1)
(2.7)
Total fair market value of securities in unrealized loss position
6,142.0 
629.2 
Corporate Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(56.7)
(1.1)
Fair market value of securities in unrealized loss position less than 12 months
2,724.9 
234.8 
Unrealized losses greater than 12 months
 
(0.4)
Fair market value of securities in unrealized loss positions greater than 12 months
 
20.2 
Total gross unrealized losses
(56.7)
(1.5)
Total fair market value of securities in unrealized loss position
2,724.9 
255.0 
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(37.4)
(0.1)
Fair market value of securities in unrealized loss position less than 12 months
1,374.6 
43.6 
Total gross unrealized losses
(37.4)
(0.1)
Total fair market value of securities in unrealized loss position
1,374.6 
43.6 
Asset-Backed Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(19.7)
   
Fair market value of securities in unrealized loss position less than 12 months
1,060.1 
13.6 
Total gross unrealized losses
(19.7)
0 
Total fair market value of securities in unrealized loss position
1,060.1 
13.6 
Canadian Government Obligations And Canadian Government Agency Obligations [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(4.5)
(0.6)
Fair market value of securities in unrealized loss position less than 12 months
444.7 
209.4 
Total gross unrealized losses
(4.5)
(0.6)
Total fair market value of securities in unrealized loss position
444.7 
209.4 
Canadian Provincial Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(5.6)
(0.3)
Fair market value of securities in unrealized loss position less than 12 months
239.7 
58.5 
Total gross unrealized losses
(5.6)
(0.3)
Total fair market value of securities in unrealized loss position
239.7 
58.5 
Municipal Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(4.4)
(0.1)
Fair market value of securities in unrealized loss position less than 12 months
188.7 
22.8 
Total gross unrealized losses
(4.4)
(0.1)
Total fair market value of securities in unrealized loss position
188.7 
22.8 
Other Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Unrealized losses less than 12 months
(2.8)
(0.1)
Fair market value of securities in unrealized loss position less than 12 months
109.3 
26.3 
Total gross unrealized losses
(2.8)
(0.1)
Total fair market value of securities in unrealized loss position
$ 109.3 
$ 26.3 
Corporate Investments And Funds Held For Clients (Expected Maturities Of Available-For-Sale Securities) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Corporate Investments And Funds Held For Clients [Abstract]
 
Due in one year or less
$ 1,435.7 
Due after one year to two years
3,470.9 
Due after two years to three years
4,631.5 
Due after three years to four years
3,233.3 
Due after four years
6,067.3 
Total available-for-sale securities
$ 18,838.7 
Receivables (Narrative) (Details)
Jun. 30, 2013
Jun. 30, 2012
Accounts, Notes, Loans and Financing Receivable, Classified [Abstract]
 
 
Allowance for doubtful accounts as a percentage of notes receivable
6.00% 
6.00% 
Percentage of notes receivable that are classified as current
100.00% 
100.00% 
Receivables (Schedule Of The Company's Receivables) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Accounts, Notes, Loans and Financing Receivable, Classified [Abstract]
 
 
 
Trade receivables - Current
$ 1,564.8 
$ 1,355.7 
 
Trade receivables - Long-term
0 
0 
 
Notes receivable - Current
91.0 
89.1 
 
Notes receivable - Long-term
154.7 
145.5 
 
Allowance for doubtful accounts - trade receivables - Current
(45.6)
(40.7)
 
Allowance for doubtful accounts - trade receivables - Long-term
0 
0 
 
Allowance for doubtful accounts - notes receivable - Current
(5.3)
(5.4)
(5.7)
Allowance for doubtful accounts - notes receivable - Long-term
(9.0)
(8.8)
(9.4)
Unearned income - notes receivable - Current
(6.6)
(7.0)
 
Unearned income - notes receivable - Long-term
(7.0)
(6.9)
 
Total - Current
1,598.3 
1,391.7 
 
Total - Long-term
$ 138.7 
$ 129.8 
 
Receivables (Schedule Of The Allowance For Doubtful Accounts For Notes Receivable) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]
 
 
 
Notes, Loans and Financing Receivable, Gross, Current
$ 91.0 
$ 89.1 
 
Notes, Loans and Financing Receivable, Gross, Noncurrent
154.7 
145.5 
 
Reserve - Current
5.3 
5.4 
5.7 
Reserve - Long-term
9.0 
8.8 
9.4 
Specific Reserve [Member]
 
 
 
Accounts, Notes, Loans and Financing Receivable [Line Items]
 
 
 
Notes, Loans and Financing Receivable, Gross, Current
0.3 
0.4 
 
Notes, Loans and Financing Receivable, Gross, Noncurrent
0.5 
0.6 
 
Reserve - Current
0.3 
0.4 
 
Reserve - Long-term
0.5 
0.6 
 
Non-Specific Reserve [Member]
 
 
 
Accounts, Notes, Loans and Financing Receivable [Line Items]
 
 
 
Notes, Loans and Financing Receivable, Gross, Current
90.7 
88.7 
 
Notes, Loans and Financing Receivable, Gross, Noncurrent
154.2 
144.9 
 
Reserve - Current
5.0 
5.0 
 
Reserve - Long-term
$ 8.5 
$ 8.2 
 
Receivables (Rollforward Of The Allowance For Doubtful Accounts For Notes Receivable) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2013
Current [Member]
Jun. 30, 2012
Current [Member]
Jun. 30, 2013
Long-term [Member]
Jun. 30, 2012
Long-term [Member]
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
 
 
 
Beginning balance, current
$ 5.3 
$ 5.4 
$ 5.7 
 
 
 
 
Beginning balance, long-term
9.0 
8.8 
9.4 
 
 
 
 
Incremental provision
 
 
 
0.8 
0.6 
1.2 
0.2 
Recoveries and others
 
 
 
0 
0 
0.2 
0.4 
Chargeoffs
 
 
 
(0.9)
(0.9)
(1.2)
(1.2)
Ending balance, current
5.3 
5.4 
5.7 
 
 
 
 
Ending balance, long-term
$ 9.0 
$ 8.8 
$ 9.4 
 
 
 
 
Receivables Long Term Receivable Maturities (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Receivables [Abstract]
 
 
2015
$ 67.2 
 
2016
47.6 
 
2017
28.8 
 
2018
11.1 
 
Notes, Loans and Financing Receivable, Gross, Noncurrent
$ 154.7 
$ 145.5 
Property, Plant, and Equipment (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Property, Plant and Equipment [Line Items]
 
 
 
Depreciation Expense
$ 149.9 
$ 146.9 
$ 146.3 
Property, Plant and Equipment, Gross
2,042.9 
1,956.5 
 
Accumulated Depreciation
1,314.2 
1,250.2 
 
Property, Plant and Equipment, Net
728.7 
706.3 
 
Land and Building [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
731.7 
710.4 
 
Data Processing Equipment [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
850.7 
814.5 
 
Furniture and Fixtures [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
$ 460.5 
$ 431.6 
 
Goodwill And Intangible Assets, Net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Finite-Lived Intangible Assets [Line Items]
 
 
 
Goodwill, Impairment Loss
$ 42.7 
$ 0 
$ 0 
Amortization expense on intangible assets
$ 167.1 
$ 172.8 
$ 168.3 
Weighted average remaining useful life
7 years 
 
 
Software And Software Licenses [Member]
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Weighted average remaining useful life
4 years 
 
 
Customer Contracts And Lists [Member]
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Weighted average remaining useful life
10 years 
 
 
Other Intangibles [Member]
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Weighted average remaining useful life
7 years 
 
 
Goodwill And Intangible Assets, Net (Changes In Goodwill) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Goodwill [Roll Forward]
 
 
 
Beginning balance
$ 3,062.0 
$ 2,980.3 
 
Additions and other adjustments, net
30.2 
163.0 
 
Currency translation adjustments
(3.1)
81.3 
 
Goodwill, Impairment Loss
42.7 
0 
0 
Ending balance
3,052.6 
3,062.0 
2,980.3 
Employer Services [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Beginning balance
1,887.6 
1,841.7 
 
Additions and other adjustments, net
29.4 
106.8 
 
Currency translation adjustments
(4.5)
60.9 
 
Goodwill, Impairment Loss
(42.7)
 
 
Ending balance
1,878.8 
1,887.6 
 
PEO Services [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Beginning balance
4.8 
4.8 
 
Additions and other adjustments, net
0 
0 
 
Currency translation adjustments
0 
0 
 
Goodwill, Impairment Loss
0 
 
 
Ending balance
4.8 
4.8 
 
Dealer Services [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Beginning balance
1,169.6 
1,133.8 
 
Additions and other adjustments, net
0.8 
56.2 
 
Currency translation adjustments
1.4 
20.4 
 
Goodwill, Impairment Loss
0 
 
 
Ending balance
$ 1,169.0 
$ 1,169.6 
 
Goodwill And Intangible Assets, Net (Components Of Finite-Lived Intangible Assets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Finite-Lived Intangible Assets [Line Items]
 
 
Total - gross
$ 2,601.7 
$ 2,485.2 
Total - accumulated amortization
(1,958.5)
(1,796.9)
Intangible assets, net
643.2 
688.3 
Software And Software Licenses [Member]
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
Total - gross
1,511.1 
1,410.9 
Total - accumulated amortization
(1,239.5)
(1,145.8)
Customer Contracts And Lists [Member]
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
Total - gross
848.9 
832.7 
Total - accumulated amortization
(534.3)
(479.1)
Other Intangibles [Member]
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
Total - gross
241.7 
241.6 
Total - accumulated amortization
$ (184.7)
$ (172.0)
Goodwill And Intangible Assets, Net (Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
 
Twelve months ending June 30, 2014
$ 157.3 
Twelve months ending June 30, 2015
128.0 
Twelve months ending June 30, 2016
89.8 
Twelve months ending June 30, 2017
67.5 
Twelve months ending June 30, 2018
$ 43.5 
Short-Term Financing (Details) (USD $)
3 Months Ended 12 Months Ended
Jun. 30, 2013
Jun. 30, 2013
Jun. 30, 2012
Short-term Debt [Line Items]
 
 
 
Obligations under reverse repurchase agreements
$ 245,900,000 
$ 245,900,000 
$ 0 
Credit agreement period
 
364 days 
 
Aggregate amount of commercial paper issuable under the short-term commercial paper program
 
6,750,000,000 
 
Maturities of commercial paper range
 
overnight to up to 364 days 
 
Maturities of short-term funding agreements
 
overnight to up to five business days 
 
364-Day Credit Agreement [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Maximum borrowing capacity under credit facilities
2,000,000,000 
2,000,000,000 
 
Expiration date of credit facilities
 
Jun. 01, 2014 
 
Outstanding borrowings
0 
0 
 
Credit Facility Expiring In June 2015 [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Maximum borrowing capacity under credit facilities
3,250,000,000 
3,250,000,000 
 
Term of credit
 
4 years 
 
Expiration date of credit facilities
 
Jun. 01, 2015 
 
Line of credit facility potentially available increase in maximum borrowing capacity
 
500,000,000 
 
Credit Facility Expiring In June 2018 [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Maximum borrowing capacity under credit facilities
2,000,000,000 
2,000,000,000 
 
Term of credit
 
5 years 
 
Expiration date of credit facilities
 
Jun. 01, 2018 
 
Credit Facility Expiring In June 2017 [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Line of credit facility potentially available increase in maximum borrowing capacity
 
500,000,000 
 
Short-Term Commercial Paper Program [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Outstanding borrowings
0 
0 
0 
Average outstanding borrowings
 
2,400,000,000 
2,300,000,000 
Weighted average interest rates
 
0.20% 
0.10% 
Weighted average maturity of borrowings under the short-term commercial paper program
 
2 days 
2 days 
Reverse Repurchase Agreements [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Maximum borrowing capacity under credit facilities
3,000,000,000 
3,000,000,000 
 
Outstanding borrowings
 
 
0 
Debt Instrument, Maturity Date
Jul. 02, 2013 
 
 
Average outstanding borrowings
 
362,000,000 
297,700,000 
Weighted average interest rates
 
0.70% 
0.60% 
Issuance Of Debt [Member]
 
 
 
Short-term Debt [Line Items]
 
 
 
Aggregate amount of commercial paper issuable under the short-term commercial paper program
 
$ 7,250,000,000 
 
Debt Instrument, Issuance Date
 
Aug. 01, 2013 
 
Employee Benefit Plans (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended 12 Months Ended
Sep. 30, 2013
Jun. 30, 2013
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2011
Jun. 30, 2011
Dec. 31, 2010
Jun. 30, 2013
Stock Options Granted After July 2008 [Member]
Jun. 30, 2013
Time Based Restricted Stock granted prior to Fiscal 2013 [Domain]
Jun. 30, 2013
Time Based Restricted Stock granted during Fiscal 2013 [Domain] [Domain]
Jun. 30, 2013
Performance Based Restricted Stock and Units [Domain]
Jun. 30, 2013
Employee Stock [Member]
Jun. 30, 2013
Stock Options Granted Prior To July Two Thousand Eight [Member]
Jun. 30, 2013
Non-Vested Stock Options [Member]
Jun. 30, 2013
Nonvested Restricted Stock Unit [Domain]
Jun. 30, 2013
Non-Vested Restricted Stock [Member]
Jun. 30, 2014
Net Actuarial And Other Loss Net Of Tax [Member]
Jun. 30, 2013
Net Actuarial And Other Loss Net Of Tax [Member]
Jun. 30, 2014
Transition Obligation Net Of Tax [Member]
Jun. 30, 2013
Transition Obligation Net Of Tax [Member]
Jun. 30, 2014
Prior Service Cost Net Of Tax [Member]
Jun. 30, 2013
Prior Service Cost Net Of Tax [Member]
Jun. 30, 2013
Minimum [Member]
Performance Based Restricted Stock and Units [Domain]
Jun. 30, 2013
Maximum [Member]
Performance Based Restricted Stock and Units [Domain]
Jun. 30, 2013
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents [Member]
Jun. 30, 2012
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax
 
$ 210.9 
 
$ 273.1 
 
$ 185.8 
 
 
 
 
 
 
 
 
 
 
$ 18.8 
$ 311.2 
$ 0.9 
$ 4.9 
$ 0.2 
$ 0.6 
 
 
 
 
Vesting term options granted
 
 
 
 
 
 
 
4 years 
5 years 
2 years 
 
 
5 years 
 
 
 
 
 
 
 
 
 
6 months 
26 months 
 
 
Share Based Compensation Arrangement By Share Based Payment Award Performance Period
 
 
 
 
 
 
 
 
 
 
1 year 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options - term for stock options granted, in years
 
10 years 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Purchase price of common stock as percentage of market value
 
 
 
 
 
 
 
 
 
 
 
95.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Minimum percentage that will ultimately vest under performance-based restricted stock awards based on performance target
 
 
 
 
 
 
 
 
 
 
0.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum percentage that will ultimately vest under performance-based restricted stock awards based on performance target
 
 
 
 
 
 
 
 
 
 
150.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares repurchased
 
10.4 
 
14.6 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock-based compensation expense
 
96.4 
 
94.1 
 
90.3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total stock-based compensation - related tax benefits
 
34.3 
 
33.5 
 
32.3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total remaining unrecognized compensation cost
 
 
 
 
 
 
 
 
 
 
 
 
 
9.7 
18.2 
63.8 
 
 
 
 
 
 
 
 
 
 
Weighted-average remaining requisite vesting period
 
 
 
 
 
 
 
 
 
 
 
 
 
2 years 
1 year 3 months 18 days 
1 year 4 months 7 days 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value
 
276.8 
 
242.7 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term
 
4 years 7 months 6 days 
 
3 years 5 months 1 day 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value
 
135.1 
 
83.8 
 
95.7 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Award requisite service period
 
3 years 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
1,676.1 
 
1,469.5 
 
1,313.3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
42.7 
57.2 
Defined Benefit Plan, Accumulated Benefit Obligation
 
1,412.8 
 
1,399.9 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Contributions by Employer
75.0 
135.3 
 
91.6 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Measurement Date
 
June 30 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2014
 
54.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2015
 
60.5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2016
 
67.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2017
 
77.0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2018
 
86.0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected future plan benefit payment - 2019 to 2023
 
568.6 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent
 
50.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Highly Compensated Employee Contribution Percentage To Retirement And Saving Plan
 
12.00% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Contribution Plan, Cost Recognized
 
 
72.0 
 
65.9 
 
57.5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash payments for Restricted Stock Units
 
$ 17.8 
 
$ 15.4 
 
$ 10.3 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Employee Benefit Plans (Components Of Stock-Based Compensation Expense) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Stock-based compensation expense
$ 96.4 
$ 94.1 
$ 90.3 
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options
34.3 
33.5 
32.3 
Operating Expenses [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Stock-based compensation expense
17.9 
17.2 
16.5 
Selling, General And Administrative Expenses [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Stock-based compensation expense
64.0 
62.6 
59.9 
System Development And Programming Costs [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Stock-based compensation expense
$ 14.5 
$ 14.3 
$ 13.9 
Employee Benefit Plans (Changes In Stock Options Outstanding) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Compensation and Retirement Disclosure [Abstract]
 
Number of Options, outstanding at July 1, 2012
16,187 
Number of Options, granted
1,168 
Number of Options, exercised
(6,070)
Number of Options, cancelled
(175)
Number of Options, outstanding at June 30, 2013
11,110 
Options exercisable, end of year
8,662 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price
$ 41,000,000 
Shares available for future grants, end of year
28,459 
Shares reserved for issuance under stock option
39,569 
Weighted Average Price, outstanding at July 1, 2012
$ 41 
Weighted Average Price, granted
$ 60 
Weighted Average Price, exercised
$ 38 
Weighted Average Price, cancelled
$ 41 
Weighted Average Price, outstanding at December 31, 2012
$ 44 
Employee Benefit Plans (Time-Based Restricted shares and units) (Details)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Time-Based Restricted Stock [Member]
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
Restricted shares outstanding at July 1, 2012
358 
Restricted shares granted
1,171 
Restricted shares vested
(168)
Restricted shares forfeited
(48)
Restricted shares outstanding at June 30, 2013
1,313 
Time Based Restricted Stock Unit [Domain]
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
Restricted shares outstanding at July 1, 2012
0 
Restricted shares granted
284 
Restricted shares vested
0 
Restricted shares forfeited
(4)
Restricted shares outstanding at June 30, 2013
280 
Employee Benefit Plans (Performance based restricted shares and units) (Details)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Performance-Based Restricted Stock [Member]
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
Restricted shares outstanding at July 1, 2012
1,474 
Restricted shares granted
542 
Restricted shares vested
(1,329)
Restricted shares forfeited
(166)
Restricted shares outstanding at June 30, 2013
521 
Performance Based Restricted Stock Unit [Domain]
 
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
 
Restricted shares outstanding at July 1, 2012
295 
Restricted shares granted
30 
Restricted shares vested
(275)
Restricted shares forfeited
(12)
Restricted shares outstanding at June 30, 2013
38 
Employee Benefit Plans (Assumptions Used To Estimate Fair Value For Stock Options Granted) (Details)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Risk-free interest rate, minimum
0.80% 
0.80% 
1.40% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum
1.00% 
1.00% 
2.40% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum
23.50% 
24.90% 
24.50% 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum
24.40% 
25.90% 
24.90% 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 8.63 
$ 8.46 
$ 7.59 
Minimum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term
5 years 3 months 18 days 
5 years 2 months 12 days 
5 years 1 month 6 days 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
2.70% 
2.80% 
2.90% 
Maximum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term
5 years 4 months 24 days 
5 years 3 months 18 days 
5 years 2 months 12 days 
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate
2.90% 
3.10% 
3.30% 
Employee Benefit Plans Weighted average fair value of restricted stock plan issuances (Details)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 8.63 
$ 8.46 
$ 7.59 
Performance-Based Restricted Stock [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 55.13 
 
 
Time-Based Restricted Stock [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 58.72 
 
 
Employee Benefit Plans (Funded Status of Pension Plans) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Sep. 30, 2013
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Compensation and Retirement Disclosure [Abstract]
 
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets, beginning of year
$ 1,676.1 
$ 1,469.5 
$ 1,313.3 
 
Actual return on plan assets
 
121.0 
106.6 
 
Employer contributions
75.0 
135.3 
91.6 
 
Currency translation adjustments
 
(1.5)
(4.6)
 
Benefits paid
 
(48.2)
(37.4)
 
Defined Benefit Plan, Fair Value of Plan Assets, end of year
 
1,676.1 
1,469.5 
1,313.3 
Benefit obligation at beginning of year
1,427.8 
1,412.1 
1,178.8 
 
Service cost
 
67.2 
57.2 
52.3 
Interest cost
 
55.1 
62.1 
56.6 
Actuarial (gains)/losses
 
(58.6)
159.4 
 
Currency translation adjustments
 
0.2 
(10.8)
 
Acquisitions
 
0 
2.8 
 
Benefit obligation at end of year
 
1,427.8 
1,412.1 
1,178.8 
Funded status - plan assets less benefit obligations
 
$ 248.3 
$ 57.4 
 
Employee Benefit Plans (Balance Sheet Impact - After Adoption Of SFAS158) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]
 
 
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent
$ 362.6 
$ 170.3 
Defined Benefit Pension Plan Liabilities, Current
(4.7)
(4.3)
Defined Benefit Pension Plan, Liabilities, Noncurrent
(109.6)
(108.6)
Defined Benefit Plan, Funded Status of Plan
$ 248.3 
$ 57.4 
Employee Benefit Plan (Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]
 
 
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation
$ 127.7 
$ 171.5 
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation
115.3 
161.8 
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets
$ 14.2 
$ 60.8 
Employee Benefit Plans (Components Of Net Pension Expense) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Compensation and Retirement Disclosure [Abstract]
 
 
 
Additional estimated future contribution in fiscal 2014
$ 8.7 
 
 
Service cost - benefits earned during the period
67.2 
57.2 
52.3 
Interest cost on projected benefits
55.1 
62.1 
56.6 
Expected return on plan assets
(109.5)
(97.6)
(88.5)
Net amortization and deferral
30.9 
15.0 
20.1 
Net pension expense
$ 43.7 
$ 36.7 
$ 40.5 
Employee Benefit Plan (Defined Benefit Plan Assumtpions Used in Calculating Benefit Obligations) (Details)
Jun. 30, 2013
Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]
 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
4.50% 
3.90% 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase
4.00% 
4.00% 
Employee Benefit Plan (Assumptions Used in Calculating Net Pension Expense) (Details)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Compensation and Retirement Disclosure [Abstract]
 
 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate
3.90% 
5.40% 
5.25% 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets
7.25% 
7.25% 
7.25% 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase
4.00% 
4.00% 
5.50% 
Employee Benefit Plans (Pension Plan Asset Allocation by Asset Category) (Details)
Jun. 30, 2013
Jun. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Actual Plan Asset Allocations
100.00% 
100.00% 
United States Fixed Income Securities
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Actual Plan Asset Allocations
31.00% 
41.00% 
United States Equity Securities [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Actual Plan Asset Allocations
21.00% 
41.00% 
International Securities [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Actual Plan Asset Allocations
21.00% 
18.00% 
Global Equity Securities [Domain]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Actual Plan Asset Allocations
27.00% 
0.00% 
Employee Benefit Plans (Pension Plans' Target Asset Allocation Ranges) (Details)
12 Months Ended
Jun. 30, 2013
United States Fixed Income Securities
 
Investment [Line Items]
 
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum
35.00% 
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum
45.00% 
United States Equity Securities [Member]
 
Investment [Line Items]
 
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum
14.00% 
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum
24.00% 
International Securities [Member]
 
Investment [Line Items]
 
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum
11.00% 
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum
21.00% 
Global Equity Securities [Domain]
 
Investment [Line Items]
 
Defined Benefit Plan, Target Plan Asset Allocations Range Minimum
20.00% 
Defined Benefit Plan, Target Plan Asset Allocations Range Maximum
30.00% 
Employee Benefit Plans Employee Benefit Plans (Investments of the Plan Measured at Fair Value) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 1,676.1 
$ 1,469.5 
$ 1,313.3 
Comingled Trusts [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Comingled Trusts [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,050.7 
583.5 
 
Comingled Trusts [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Comingled Trusts [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,050.7 
583.5 
 
US Treasury and Government [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
US Treasury and Government [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
228.3 
272.5 
 
US Treasury and Government [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
US Treasury and Government [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
228.3 
272.5 
 
Mutual Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
79.2 
269.6 
 
Mutual Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Mutual Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Mutual Funds [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
79.2 
269.6 
 
Corporate And Municipal Bonds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Corporate And Municipal Bonds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
252.5 
272.8 
 
Corporate And Municipal Bonds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Corporate And Municipal Bonds [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
252.5 
272.8 
 
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
22.7 
13.9 
 
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
22.7 
13.9 
 
Total Pension Assets Excluding Cash [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
79.2 
269.6 
 
Total Pension Assets Excluding Cash [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
1,554.2 
1,142.7 
 
Total Pension Assets Excluding Cash [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Total Pension Assets Excluding Cash [Member] |
Estimate of Fair Value, Fair Value Disclosure [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 1,633.4 
$ 1,412.3 
 
Income Taxes (Details) (USD $)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Current deferred tax assets
$ 26,300,000 
$ 44,000,000 
 
 
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent
89,400,000 
53,200,000 
 
 
Deferred Tax Liabilities, Net, Current
138,000,000 
87,100,000 
 
 
Undistributed Earnings of Foreign Subsidiaries
910,300,000 
 
 
 
Net operating loss amount subject to expiration
132,100,000 
 
 
 
Deferred Tax Assets, Valuation Allowance
(49,399,000)
(54,755,000)
(62,700,000)
(61,883,000)
Income Taxes Paid
693,000,000 
660,300,000 
628,700,000 
 
Unrecognized Tax Benefits
70,700,000 
84,700,000 
105,700,000 
107,200,000 
Unrecognized Tax Benefits that Would Impact Effective Tax Rate
38,800,000 
43,700,000 
56,300,000 
 
Unrecognized Tax Benefits, Interest on Income Taxes Expense
400,000 
1,200,000 
1,700,000 
 
Unrecognized Tax Benefits, Interest on Income Taxes Accrued
12,200,000 
14,400,000 
 
 
Unrecognized Tax Benefits, Income Tax Penalties Accrued
1,000,000 
2,100,000 
 
 
Tax Settlements Future Impact Potential On Earnings Maximum
15,000,000 
 
 
 
Income Taxes Payable [Member]
 
 
 
 
Unrecognized Tax Benefits, Interest on Income Taxes Accrued
1,200,000 
1,600,000 
 
 
Unrecognized Tax Benefits, Income Tax Penalties Accrued
100,000 
700,000 
 
 
Foreign Tax Authority [Member]
 
 
 
 
Net operating loss amount subject to expiration
64,800,000 
 
 
 
Operating Loss Carryforwards, Expiration Dates
expire through 2033 
 
 
 
Operating loss carry forwards not subject to expiration
67,300,000 
 
 
 
State and Local Jurisdiction [Member]
 
 
 
 
Operating Loss Carryforwards, Expiration Dates
expire through 2032 
 
 
 
Operating Loss Carryforwards
212,900,000 
 
 
 
Domestic Tax Authority [Member]
 
 
 
 
Operating Loss Carryforwards, Expiration Dates
2031 
 
 
 
Operating Loss Carryforwards
$ 98,200,000 
 
 
 
Income Taxes Income Taxes (Components of Provision for Income Taxes from Continuing Operations) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Tax Disclosure [Abstract]
 
 
 
Income (Loss) from Continuing Operations before Income Taxes, Domestic
$ 1,757.6 
$ 1,874.4 
$ 1,660.4 
Income (Loss) from Continuing Operations before Income Taxes, Foreign
326.7 
233.5 
257.6 
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
$ 2,084.3 
$ 2,107.9 
$ 1,918.0 
Income Taxes (Components of Provision (Benefit) For Income Taxes) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Tax Disclosure [Abstract]
 
 
 
Current Federal Tax Expense (Benefit)
$ 539.2 
$ 537.6 
$ 446.4 
Current Foreign Tax Expense (Benefit)
105.9 
87.3 
96.9 
Current State and Local Tax Expense (Benefit)
50.5 
67.4 
24.4 
Current Income Tax Expense (Benefit)
695.6 
692.3 
567.7 
Deferred Federal Income Tax Expense (Benefit)
35.2 
48.4 
93.7 
Deferred Foreign Income Tax Expense (Benefit)
(15.0)
(9.3)
(1.8)
Deferred State and Local Income Tax Expense (Benefit)
4.4 
(3.2)
13.4 
Deferred Income Tax Expense (Benefit)
24.6 
35.9 
105.3 
Income Tax Expense (Benefit), Continuing Operations
$ 720.2 
$ 728.2 
$ 673.0 
Income Taxes Income Taxes (Reconciliation of U.S. Federal Statutory Rate To Effective Tax Rate) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Tax Disclosure [Abstract]
 
 
 
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate
$ 729.6 
$ 737.8 
$ 671.4 
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate
35.00% 
35.00% 
35.00% 
Income Tax Reconciliation, State and Local Income Taxes
35.3 
37.6 
28.7 
Effective Income Tax Rate Reconciliation, State and Local Income Taxes
1.70% 
1.80% 
1.50% 
Income Tax Reconciliation, Repatriation of Foreign Earnings
85.3 
51.4 
30.3 
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings
4.10% 
2.50% 
1.60% 
Income Tax Reconciliation, Tax Credits, Foreign
(94.4)
(51.7)
(26.0)
Effective Income Tax Rate Reconciliation, Tax Credits, Foreign
(4.50%)
(2.50%)
(1.30%)
Income Tax Reconciliation Qualified Production Activities Section 199
(22.3)
(22.4)
(18.2)
Effective Income Tax Rate Reconciliation Qualified Production Activities Section 199
(1.10%)
(1.10%)
(1.00%)
Income Tax Reconciliation, Other Reconciling Items
(13.3)
(24.5)
(13.2)
Effective Income Tax Rate Reconciliation, Other Adjustments
(0.60%)
(1.20%)
(0.70%)
Income Tax Expense (Benefit), Continuing Operations
$ 720.2 
$ 728.2 
$ 673.0 
Effective Income Tax Rate, Continuing Operations
34.60% 
34.50% 
35.10% 
Income Taxes (Components of Deferred Income Tax Assets and Liabilities) (Details) (USD $)
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Income Tax Disclosure [Abstract]
 
 
 
 
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals
$ 223,700,000 
$ 228,000,000 
 
 
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost
84,100,000 
91,100,000 
 
 
Deferred Tax Assets, Operating Loss Carryforwards
98,100,000 
102,000,000 
 
 
Deferred Tax Assets, Other
39,500,000 
16,900,000 
 
 
Deferred Tax Assets, Gross
445,400,000 
438,000,000 
 
 
Deferred Tax Assets, Valuation Allowance
(49,399,000)
(54,755,000)
(62,700,000)
(61,883,000)
Deferred Tax Assets, Net of Valuation Allowance
396,000,000 
383,200,000 
 
 
Deferred Tax Liabilities, Prepaid Pension Costs
146,200,000 
88,900,000 
 
 
Deferred Tax Liabilities, Tax Deferred Income
62,900,000 
69,300,000 
 
 
Deferred Tax Liabilities Fixed And Intangible Assets
235,300,000 
246,400,000 
 
 
Deferred Tax Liabilities, Prepaid Expenses
88,900,000 
84,800,000 
 
 
Deferred Tax Liabilities, Unrealized Gains on Trading Securities
99,800,000 
247,000,000 
 
 
Deferred Tax Liabilities, Undistributed Foreign Earnings
12,300,000 
14,100,000 
 
 
Deferred Tax Liabilities, Other
7,300,000 
4,100,000 
 
 
Deferred Tax Liabilities
652,700,000 
754,600,000 
 
 
Deferred Tax Liabilities, Net
$ 256,700,000 
$ 371,400,000 
 
 
Income Taxes (Reconciliation of Beginning and Ending balance of Unrecognized Tax) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Income Tax Disclosure [Abstract]
 
 
 
Unrecognized Tax Benefits, beginning balance
$ 84.7 
$ 105.7 
$ 107.2 
Additions for tax positions
5.0 
8.0 
9.7 
Reduction of tax positions
0 
(0.8)
(2.4)
Additions for tax positions of periods
5.3 
13.0 
17.3 
Reductions for tax positions of periods
(3.7)
(21.6)
(23.3)
Settlement with tax authorities
(12.0)
(4.2)
(4.5)
Expiration of the statute of limitations
(9.7)
(9.8)
(0.4)
Impact of foreign exchange rate fluctuations
1.1 
(5.6)
2.1 
Unrecognized Tax Benefits, ending balance
$ 70.7 
$ 84.7 
$ 105.7 
Income Taxes Income Tax (Taxing Jurisdictions) (Details)
12 Months Ended
Jun. 30, 2013
Earliest FY under Examination [Member] |
Internal Revenue Service (IRS) [Member]
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2012 
Earliest FY under Examination [Member] |
CALIFORNIA
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2006 
Earliest FY under Examination [Member] |
ILLINOIS
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2004 
Earliest FY under Examination [Member] |
NEW YORK
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2007 
Earliest FY under Examination [Member] |
NEW JERSEY
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2002 
Earliest FY under Examination [Member] |
FRANCE
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2010 
Latest FY under Examination [Member] |
Internal Revenue Service (IRS) [Member]
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2013 
Latest FY under Examination [Member] |
CALIFORNIA
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2008 
Latest FY under Examination [Member] |
ILLINOIS
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2009 
Latest FY under Examination [Member] |
NEW YORK
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2009 
Latest FY under Examination [Member] |
NEW JERSEY
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2009 
Latest FY under Examination [Member] |
FRANCE
 
Income Tax Examination [Line Items]
 
Income Tax Examination, Year under Examination
2012 
Commitments And Contingencies Contractual Commitments Contingencies and Off-Balance Sheet Arrangements (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Contactual Commitments Contingencies and Off-Balance Sheet Arrangements [Abstract]
 
 
 
Operating Leases, Rent Expense
$ 270.2 
$ 252.6 
$ 159.2 
Unrecorded Unconditional Purchase Obligation
720.0 
 
 
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months
349.1 
 
 
Unrecorded Unconditional Purchase Obligation, Due within Two Years
145.1 
 
 
Unrecorded Unconditional Purchase Obligation due between two and four years
$ 225.8 
 
 
Commitments And Contingencies Contractual Commitments Contingencies and Off-Balance Sheet Arrangements (Minimum Commitments Under Obligation From Various Facilities And Equipment Leases and Software License Agreements) (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Contractual Commitments Contingencies and Off-Balance Sheet Arrangements [Abstract]
 
Operating Leases, Future Minimum Payments Due, Next Twelve Months
$ 177.4 
Operating Leases, Future Minimum Payments, Due in Two Years
137.0 
Operating Leases, Future Minimum Payments, Due in Three Years
85.7 
Operating Leases, Future Minimum Payments, Due in Four Years
48.2 
Operating Leases, Future Minimum Payments, Due in Five Years
33.1 
Operating Leases, Future Minimum Payments, Due Thereafter
28.8 
Operating Leases, Future Minimum Payments Due
$ 510.2 
Accumulated Other Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax
$ 39.6 
$ 42.0 
$ 183.1 
 
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax
186.7 
461.3 
369.8 
 
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax
(210.9)
(273.1)
(185.8)
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
15.4 
230.2 
367.1 
 
Accumulated Other Comprehensive Income (Loss) [Member]
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
$ 15.4 
$ 230.2 
$ 367.1 
$ 209.5 
Financial Data By Segment (Narrative) (Details)
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Segment Reporting Information [Line Items]
 
 
 
Standard reconciling rate between actual interest income earned and interest credited
4.50% 
 
 
Sales Revenue, Segment [Member] |
Customer Concentration Risk [Member] |
Dealer Services [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Concentration Risk, Percentage
12.10% 
10.70% 
8.80% 
Financial Data By Segment (Financial Data By Strategic Business Unit Segment) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
$ 2,810.5 
$ 3,114.3 
$ 2,747.8 
$ 2,637.5 
$ 2,623.6 
$ 2,910.9 
$ 2,570.7 
$ 2,510.9 
$ 11,310.1 
$ 10,616.0 
$ 9,833.0 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
2,084.3 
2,107.9 
1,918.0 
Assets
32,268.1 
 
 
 
30,817.4 
 
 
 
32,268.1 
30,817.4 
34,112.3 
Assets from Continuing Operations
 
 
 
 
30,692.4 
 
 
 
 
30,692.4 
 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
174.8 
146.2 
184.8 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
317.0 
319.7 
314.6 
Employer Services [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
7,914.0 
7,388.5 
6,878.3 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
2,134.2 
1,949.2 
1,831.9 
Assets
24,174.9 
 
 
 
23,326.8 
 
 
 
24,174.9 
23,326.8 
27,034.4 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
57.9 
39.9 
51.3 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
212.3 
209.0 
201.6 
PEO Services [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
1,973.2 
1,771.4 
1,543.9 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
199.2 
170.6 
137.3 
Assets
411.4 
 
 
 
376.5 
 
 
 
411.4 
376.5 
262.1 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
0.6 
1.2 
1.2 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
1.4 
1.2 
1.1 
Dealer Services [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
1,813.7 
1,661.3 
1,513.5 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
335.7 
277.6 
231.3 
Assets
696.8 
 
 
 
685.9 
 
 
 
696.8 
685.9 
677.4 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
35.1 
39.7 
34.4 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
97.0 
99.9 
99.3 
Other [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
1.7 
5.5 
12.9 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
(272.8)
(102.0)
(178.1)
Assets
6,985.0 
 
 
 
6,303.2 
 
 
 
6,985.0 
6,303.2 
6,138.4 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
81.2 
65.4 
97.9 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
119.3 
126.1 
122.0 
Foreign Exchange [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
39.9 
96.4 
97.2 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
7.4 
3.1 
(1.0)
Assets
0 
 
 
 
0 
 
 
 
0 
0 
0 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
0 
0 
0 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
0 
0 
0 
Client Fund Interest [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
(432.4)
(307.1)
(212.8)
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
(432.4)
(307.1)
(212.8)
Assets
0 
 
 
 
0 
 
 
 
0 
0 
0 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
0 
0 
0 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
0 
0 
0 
Cost Of Capital Charge [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
0 
0 
0 
Earnings from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
113.0 
116.5 
109.4 
Assets
0 
 
 
 
0 
 
 
 
0 
0 
0 
Segment Reporting Information, Expenditures for Additions to Long-Lived Assets
 
 
 
 
 
 
 
 
0 
0 
0 
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$ (113.0)
$ (116.5)
$ (109.4)
Financial Data By Segment Financial Data By Geographic Area Segment Table (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
$ 2,810.5 
$ 3,114.3 
$ 2,747.8 
$ 2,637.5 
$ 2,623.6 
$ 2,910.9 
$ 2,570.7 
$ 2,510.9 
$ 11,310.1 
$ 10,616.0 
$ 9,833.0 
Assets
32,268.1 
 
 
 
30,817.4 
 
 
 
32,268.1 
30,817.4 
34,112.3 
Assets from Continuing Operations
 
 
 
 
30,692.4 
 
 
 
 
30,692.4 
 
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
9,114.9 
8,493.3 
7,883.8 
Assets
27,327.0 
 
 
 
26,201.9 
 
 
 
27,327.0 
26,201.9 
29,168.8 
Europe [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
1,279.1 
1,269.8 
1,190.6 
Assets
2,261.2 
 
 
 
1,969.7 
 
 
 
2,261.2 
1,969.7 
2,027.6 
Canada [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
464.9 
447.5 
428.2 
Assets
2,182.7 
 
 
 
2,130.5 
 
 
 
2,182.7 
2,130.5 
2,497.6 
Other Geographical Places [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
451.2 
405.4 
330.4 
Assets
$ 497.2 
 
 
 
$ 390.3 
 
 
 
$ 497.2 
$ 390.3 
$ 418.3 
Quarterly Financial Results (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Quarterly Financial Results
 
 
 
 
 
 
 
 
 
 
 
Revenues
$ 2,810.5 
$ 3,114.3 
$ 2,747.8 
$ 2,637.5 
$ 2,623.6 
$ 2,910.9 
$ 2,570.7 
$ 2,510.9 
$ 11,310.1 
$ 10,616.0 
$ 9,833.0 
Cost of Revenues
1,692.8 
1,745.9 
1,624.3 
1,586.5 
1,582.0 
1,618.2 
1,513.7 
1,500.4 
6,649.6 
6,214.3 
5,708.4 
Gross Profit
1,117.7 
1,368.4 
1,123.5 
1,051.0 
1,041.6 
1,292.7 
1,057.0 
1,010.5 
 
 
 
Net Earnings from continuing operaitons
227.0 1
482.7 
352.0 
302.5 
256.2 
450.2 
372.8 2
300.4 
1,364.1 
1,379.7 
1,245.0 
Basic Earnings Per Share from Continuing Operations
$ 0.47 
$ 1.00 
$ 0.73 
$ 0.63 
$ 0.53 
$ 0.92 
$ 0.77 
$ 0.62 
$ 2.83 
$ 2.83 
$ 2.52 
Diluted Earnings Per Share from Continuing Operations
$ (0.47)1
$ (0.99)
$ (0.72)
$ (0.62)
$ (0.52)
$ (0.91)
$ (0.76)2
$ (0.61)
$ (2.80)
$ (2.80)
$ (2.50)
Goodwill, Impairment Loss
 
 
 
 
 
 
 
 
42.7 
0 
0 
Gain (Loss) on Sale of Other Assets
 
 
 
 
 
 
 
 
$ (41.2)
 
 
Impairment of Goodwill
 
 
 
 
 
 
 
 
 
 
 
Quarterly Financial Results
 
 
 
 
 
 
 
 
 
 
 
Diluted Earnings Per Share from Continuing Operations
 
 
 
 
 
 
 
 
$ (0.09)
 
 
Gain (Loss) on Disposition of Assets
 
 
 
 
 
 
 
 
 
 
 
Quarterly Financial Results
 
 
 
 
 
 
 
 
 
 
 
Diluted Earnings Per Share from Continuing Operations
 
 
 
 
 
 
 
 
$ (0.08)
 
 
Subsequent Events (Details) (Subsequent Event [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended 1 Months Ended
Jun. 30, 2013
Jul. 31, 2013
Adp Indemnity [Member]
Subsequent Event [Line Items]
 
 
Payments for Reinsurance
 
$ 142.4 
Threshold of coverage for all losses per occurrence covered by reinsurance arrangement, next fiscal year
$ 1 
 
Valuation and Qualiying Accounts (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2010
Valuation and Qualifying Accounts Disclosure [Line Items]
 
 
 
 
Allowance for Doubtful Accounts, Current
$ 50,915 
$ 46,132 
$ 50,164 
$ 48,543 
Allowance for Doubtful Accounts Noncurrent
9,033 
8,812 
9,438 
16,048 
Deferred Tax Assets, Valuation Allowance
49,399 
54,755 
62,700 
61,883 
Charge to Costs and expenses [Member]
 
 
 
 
Valuation and Qualifying Accounts Disclosure [Line Items]
 
 
 
 
Allowance for Doubtful Accounts, Current
19,713 
24,088 
22,976 
 
Allowance for Doubtful Accounts Noncurrent
2,687 
2,106 
2,954 
 
Deferred Tax Assets, Valuation Allowance
3,887 
4,003 
3,399 
 
Charge to Other Accounts [Member]
 
 
 
 
Valuation and Qualifying Accounts Disclosure [Line Items]
 
 
 
 
Allowance for Doubtful Accounts, Current
0 
0 
0 
 
Allowance for Doubtful Accounts Noncurrent
0 
0 
0 
 
Deferred Tax Assets, Valuation Allowance
(850)
(5,454)
2,507 
 
Deduction [Member]
 
 
 
 
Valuation and Qualifying Accounts Disclosure [Line Items]
 
 
 
 
Allowance for Doubtful Accounts, Current
(14,930)
(28,120)
(21,355)
 
Allowance for Doubtful Accounts Noncurrent
(2,466)
(2,732)
(9,564)
 
Deferred Tax Assets, Valuation Allowance
$ (8,393)
$ (6,494)
$ (5,089)