UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004

FORM 11-K

  X   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2011

OR

____ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

 For the transition period from ______ to ______.

Commission file number(s):   333-110395, 333-75468, 333-90540 and 333-146565

AUTOMATIC DATA PROCESSING, INC.
   RETIREMENT AND SAVINGS PLAN   
(Full title of the plan and the address of the plan, if
different from that of the issuer named below)

Automatic Data Processing, Inc.
One ADP Boulevard, Roseland, New Jersey 07068
(Name of issuer of the securities held pursuant to
the plan and the address of its principal
executive office)

Notices and communications from the Securities and Exchange Commission
Relative to this report should be forwarded to:

Michael A. Bonarti
Corporate Vice President, General Counsel and Secretary
Automatic Data Processing, Inc.
One ADP Boulevard
Roseland, New Jersey 07068

 

AUTOMATIC DATA PROCESSING, INC.
RETIREMENT AND SAVINGS PLAN

 
TABLE OF CONTENTS	 	
 	  Page	
 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM         	 1                  	
 	 	
  FINANCIAL STATEMENTS
 	 	
      Statements of Net Assets Available for Benefits as of December 31, 2011 and 2010 
 	 2	
       Statement of Changes in Net Assets Available for Benefits For the Year Ended December 31, 2011
 	 3	
      Notes to Financial Statements as of December 31, 2011 and 2010 and for the Year Ended December 31, 2011 
 	 4-9	
  SUPPLEMENTAL SCHEDULES:
 	 	
      Form 5500, Schedule H, Part IV, Line 4a—Schedule of Delinquent Participant Contributions    
         Year Ended December 31, 2011
 	 10	
      Form 5500, Schedule H, Part IV, Line 4i—Schedule of Assets (Held at End of Year)
         As of December 31, 2011
 	 11-29	
 SIGNATURE
 	 30	
 Exhibit 23                      Consent of J.H. Cohn LLP	 31	

 
All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Trustees and Participants of
Automatic Data Processing, Inc.
Retirement and Savings Plan

We have audited the accompanying statements of net assets available for benefits of Automatic Data Processing, Inc. Retirement and Savings Plan (the "Plan") as of December 31, 2011 and 2010, and the related statement of changes in net assets available for benefits for the year ended December 31, 2011. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Automatic Data Processing, Inc. Retirement and Savings Plan as of December 31, 2011 and 2010, and the changes in its net assets available for benefits for the year ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets (held at end of year) and delinquent participant contributions are presented for the purpose of additional analysis and are not a required part of the 2011 basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the 2011 basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the 2011 basic financial statements taken as a whole.

/s/ J. H. Cohn LLP

Roseland, New Jersey
June 25, 2012

1 

AUTOMATIC DATA PROCESSING, INC.
RETIREMENT AND SAVINGS PLAN
 
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2011 AND 2010

 	 	2011	 	 	2010	 	
ASSETS	 	 	 	 	 	 	
 	 	 	 	 	 	 	
CASH	 	$	3,542	 	 	$	6,637	 	
 	 	 	 	 	 	 	 	 	
INVESTMENTS (Notes 3 and 4):	 	 	 	 	 	 	 	 	
Participant directed investments, at fair value	 	 	2,370,743,679	 	 	 	2,221,927,563	 	
 	 	 	 	 	 	 	 	 	
RECEIVABLES:	 	 	 	 	 	 	 	 	
Notes receivable from participants	 	 	71,963,055	 	 	 	66,837,683	 	
Interest and dividends receivable	 	 	4,332,331	 	 	 	4,221,269	 	
Broker receivable for securities sold	 	 	9,202,300	 	 	 	326,903	 	
Participant contribution receivable	 	 	197,803	 	 	 	11,347	 	
Employer contribution receivable	 	 	208,648	 	 	 	5,713	 	
Trust to trust transfer in receivable	 	 	9,183,495	 	 	 	-	 	
 	 	 	 	 	 	 	 	 	
TOTAL RECEIVABLES	 	 	95,087,632	 	 	 	71,402,915	 	
 	 	 	 	 	 	 	 	 	
TOTAL ASSETS	 	 	2,465,834,853	 	 	 	2,293,337,115	 	
 	 	 	 	 	 	 	 	 	
LIABILITIES	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	
Broker payable for securities purchased	 	 	36,688,805	 	 	 	2,150,921	 	
Accrued expenses	 	 	1,221,164	 	 	 	957,108	 	
 	 	 	 	 	 	 	 	 	
TOTAL LIABILITIES	 	 	37,909,969	 	 	 	3,108,029	 	
 	 	 	 	 	 	 	 	 	
NET ASSETS AVAILABLE FOR BENEFITS	 	$	2,427,924,884	 	 	$	2,290,229,086	 	
 	 	 	 	 	 	 	 	 	
See notes to financial statements.	 	 	 	 	 	 	 	 	

 

2

AUTOMATIC DATA PROCESSING, INC.
RETIREMENT AND SAVINGS PLAN
 
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2011

Contributions:	 	 	 	
     Participant	 	$	173,904,839	  	
     Employer	 	 	65,887,350	 	
          Total contributions	 	 	239,792,189	 	
 	 	 	 	 	
  Investment income:	 	 	 	 	
  Net depreciation in fair value of investments (Note 3)	 	 	(15,153,058	)	
  Dividend income	 	 	26,770,109	 	
  Interest income	 	 	3,027,239	 	
          Total investment income	 	 	14,644,290	 	
 	 	 	 	 	
  Interest income on notes receivable from participants	 	 	3,211,118	 	
 	 	 	 	 	
  Benefits paid to participants	 	 	(127,238,955	)	
 	 	 	 	 	
  Administrative and general expenses	 	 	(6,285,221	)	
 	 	 	 	 	
NET INCREASE IN NET ASSETS BEFORE TRANSFERS	 	 	124,123,421	 	
 	 	 	 	 	
TRUST TO TRUST TRANSFERS IN	 	 	13,572,377	 	
 	 	 	 	 	
NET INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS	 	 	137,695,798	 	
 	 	 	 	 	
NET ASSETS AVAILABLE FOR BENEFITS:	 	 	 	 	
Beginning of year	 	 	2,290,229,086	 	
 	 	 	 	 	
End of year	 	$	2,427,924,884	 	

See notes to financial statements.

 

3

 
 
AUTOMATIC DATA PROCESSING, INC.
 
RETIREMENT AND SAVINGS PLAN
 
NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 2011 AND 2010
AND FOR THE YEAR ENDED DECEMBER 31, 2011

1.	DESCRIPTION OF PLAN	
 
The following description of the Automatic Data Processing, Inc. Retirement and Savings Plan (the “Plan”) is provided for general information purposes only.  Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
 
The Plan is administered by a three-member committee (the “Plan Administrator”) appointed by the Board of Directors of Automatic Data Processing, Inc. (“ADP”, the “Company” or the “Plan Sponsor”).  JPMorgan Chase Bank, N.A. (“JPMorgan”) serves as custodian of the Plan.
 
General — The Plan is a defined contribution plan established January 1, 1984 available to all eligible employees of the Company.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
 
Contributions —
 
 	Participant Contributions —As defined in the Plan document, participating employees who are deemed non-highly compensated (employees earning less than $110,000 in 2010), can contribute up to 35% of their compensation, subject to the maximum deferral limits under the Internal Revenue Code (“IRC”) (and certain special limits for Puerto Rico residents participating in the Plan).  Participating employees earning more than these amounts (“Highly Compensated Employees”) can only contribute up to the amount determined by the Plan Administrator annually (currently 10% of their compensation).  Participants who have attained age 50 before the close of the Plan year are eligible to make additional contributions (“Catch-Up Contributions”) up to the amount of $5,500 for 2011.  Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (“rollover contributions”).  Unless employees elect otherwise, they shall be automatically enrolled as participants in the Plan after sixty days of employment at a deferral rate of 3% of compensation.  These contributions will be invested in the JPMorgan SmartRetirement Fund that corresponds to their estimated retirement date.  Participant contributions during the year ended December 31, 2011 include $8,386,369 of rollover contributions.	
 
 	Matching Employer Contributions —The Company contributes an amount equal to 50% of the first 6% of each participant’s salary deferral election to the Plan. Once a participant has contributed to the Plan for 60 months, the Company’s matching contribution increases to an amount equal to 70% of the first 6% of a participant’s salary deferral election.  Participants must be actively employed on December 31 of a given year to receive the matching contribution for that year.  Matching contributions are not made on the employee catch-up contributions.	
 
 	Limitations— In addition, there are contribution limitations set forth in the IRC, which the Plan must satisfy.	
 
Participant Accounts— Individual accounts are maintained for each Plan participant.  Each participant’s account is credited with the participant’s contribution, an allocation of the Company’s contribution, and an allocation of Plan gains or losses.  Account balances are valued at fair market value, and are adjusted daily to reflect the net investment income of Plan investments.  The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

 

4

Investments — Investments in the Plan consist of various investments which include the ADP Stock Fund, separately managed accounts, commingled trusts, mutual funds, and money market funds.
 
The Seix Intermediate Bond Fund, the Columbia Dividend Value Fund, the Montag & Caldwell Large Cap Growth Fund and the American Century Small Cap Value Fund are separately managed accounts, with underlying investments that include investments in publicly traded common stock, government bonds, corporate bonds and various other bond issues.  The Northern Trust S&P 500 Index Fund, the UBS S&P 500 Index Fund, the BlackRock Russell 2000 Growth Fund, the JPMorgan SmartRetirement Income Fund, the JPMorgan SmartRetirement 2010 Fund, the JPMorgan SmartRetirement 2015 Fund, the JPMorgan SmartRetirement 2020 Fund, the JPMorgan SmartRetirement 2030 Fund and the JPMorgan SmartRetirement 2040 Fund are commingled trusts.  The Goldman Sachs Financial Square Government Fund and the Western Asset Institutional Government Reserves Fund are money market funds.  The Artio International Equity - Institutional Fund is a mutual fund.
 
Participants direct the investment of their contributions and matching employer contributions into the 15 various investment options offered by the Plan.  Matching contributions are deposited into participants’ accounts each pay period and are made pursuant to their individual investment election on file at that time.
 
Vesting — Participants are immediately vested in their contributions, including salary deferral and rollover contributions.  Matching Company contributions are vested as follows:
 
 Less than two years of service from date of hire                                                                                      0%
 
         Two but less than three years of service from date of hire                                                                    50%
 
 Three or more years of service from date of hire                                                                                     100%
 
Payment of Benefits — In general, employee and employer contributions must remain in the Plan until the later of the attainment of age 65 or the end of employment.  The employee may elect to begin taking in-service distributions anytime after the attainment of age 70.
 
On termination of service, a participant can receive a lump-sum amount equal to the value of the vested portion of his or her account.  Alternatively, he or she can elect to defer payment if the total of the participant’s vested account balance is more than $1,000.  The balance in the participant’s ADP Stock Fund account can be distributed as whole shares of Company common stock (“Company Stock”) or as cash equivalent to the fair market value of the Company Stock at the date of distribution.  The Plan was amended to reflect certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001.  Pursuant to this amendment, if the total of the participant’s vested account balance is more than $1,000 but less than or equal to $5,000 on termination of service, and the participant has not elected to receive a lump-sum amount, ADP will automatically roll over the vested account balance to an individual retirement account (“IRA”) established with The Bancorp Bank.  Fees and expenses for the IRA will be charged against a participant’s account unless he or she contacts the IRA provider and requests to make payment of the fees out-of-pocket. 
 
Trust to Trust Transfers In – Effective January 19, 2011, the Consultants in Data Processing, Inc. 401(k) Profit Sharing Plan merged into the Plan in connection with the acquisition of Consultants in Data Processing, Inc. by the Company during the year ended December 31, 2011.  Transfers of $1,072,961 are included in Trust to Trust Transfers In in the accompanying Statement of Changes in Net Assets Available for Benefits.
 
Effective May 31, 2011, the AdvancedMD Software, Inc. 401(k) Plan merged into the Plan in connection with the acquisition of AdvancedMD Software, Inc. by the Company during the year ended December 31, 2011.  Transfers of $3,315,921 are included in Trust to Trust Transfers In in the accompanying Statement of Changes in Net Assets Available for Benefits.
 
Effective December 30, 2011, The RightThing, LLC 401(k) Plan merged into the Plan in connection with the acquisition of The RightThing, LLC by the Company during the year ended December 31, 2011.  Transfers of $9,183,495 are included in Trust to Trust Transfers In in the accompanying Statement of Changes in Net Assets Available for Benefits and in Trust to trust transfer in receivable in the accompanying Statement of Net Assets Available for Benefits as of December 31, 2011.  The transfer of plan assets was completed on January 4, 2012.
 
Forfeitures — Upon termination of a participant’s employment for reasons other than death before the attainment of age 65, the participant will be entitled to receive the vested portion of their account balance.  The nonvested portion of the participant’s account balance will be forfeited, and will be used to pay Plan expenses as well as to reduce the amount of future Company contributions pursuant to the Plan document.  The amount of unused forfeitures as of December 31, 2011 and 2010 amounted to $1,650,758 and $1,648,590, respectively.  For the year ended December 31, 2011, amounts used to pay administrative expenses amounted to $795,714, and the amount used to reduce employer contributions was $2,825,449.
 
Notes Receivable from Participants — Plan participants may borrow funds from their account up to a maximum of $50,000 or 50% of their account balances, whichever is less, subject to certain limits and conditions.  Outstanding loans are secured by the participant’s interest in the Plan and bear interest at rates ranging from 4.25% to 10.5%, which are commensurate with local prevailing rates at the time funds are borrowed, as determined by the Plan Administrator.  Loans are generally repaid through payroll deductions or, at the option of the participant, may be prepaid in total. Participants’ loan repayments and any interest due are paid into the participants’ account.
 
Employee Stock Ownership Plan Component — The Plan was amended effective January 1, 2002, to designate a portion of the Plan as an employee stock ownership plan (“ESOP Component” or “ESOP”) which was designed to comply with IRC Section 4975 (e) (7) and the regulations thereunder, and Section 407(d) (6) of ERISA.  The ESOP is defined as the portion of the Plan derived from (a) account balances invested in Company Stock and (b) all contributions made to the Plan after December 31, 2001 as further defined in the Plan amendment.  The principal purpose of the ESOP Component is to provide participants an ownership interest in the Company.  The following includes main highlights of the ESOP Component.  Participants should refer to the Plan document for more information.
 
Investments in Company Stock – The ESOP Component will be invested primarily in Company Stock.  Purchases of Company Stock may be made in the open market or, to the extent permitted by law, directly from the Company or shareholders of the Company.  All purchases of Company Stock shall be made at prices that do not exceed the fair market value of such Company Stock, as determined by the Plan custodian at the time of purchase.

Dividends on Company Stock – Dividends paid by the Company with respect to shares of Company Stock held by the ESOP Component shall either be paid in cash directly to the participants, or pursuant to the participant’s election, dividends can be reinvested in the ESOP Component.  All cash dividends are paid out on a quarterly basis.  If an election is made by a participant to receive a distribution in cash of dividends paid on Company Stock, then such dividends shall be held in a money market fund pending distribution.

Vesting – A participant will be 100% vested in their salary deferral and rollover contribution accounts and in any dividends paid on or after April 1, 2002 on Company Stock held in accounts.

Payment of Benefits – Payments to participants from the ESOP Component will be made in accordance with provisions as stated in the Plan document and amendments thereto regarding the payment of benefits from the Plan.

 

 

5

 
2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	
 
The following are the significant accounting policies followed by the Plan:
 
Basis of Accounting — The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
 
Use of Estimates —The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Plan management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities.  Actual results could differ from those estimates.
 
Risk and Uncertainties — The Plan utilizes various investment instruments including U.S. Government agency securities, debt securities of companies with strong credit ratings from a variety of industries, and in various equity securities, including Company Stock.  Investment securities, in general, are exposed to various risks, such as interest rate, credit and overall market volatility.  Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
 
Income Recognition — Purchases and sales of securities are recorded on a trade-date basis.  Interest income is recorded on the accrual basis.  Dividends are recorded on the ex-dividend date.
 
For mutual fund and money market fund investments, including the Columbia Dividend Value Fund, Artio International Equity Fund – Institutional Fund, Goldman Sachs Financial Square Government Fund and Western Asset Institutional Government Reserves Fund, management fees and operating expenses are reflected in the net asset value of the funds on a daily basis and are not reflected separately.  Management fees for the separately managed accounts and comingled trusts are accrued on   a daily basis, reflected in the daily unitized price, and paid on a quarterly basis.  Consequently, management fees are reflected as a reduction of investment return for such investments.
 
Fair Value of Investments — See Note 4 - “Fair Value Measurements.”
 
Fair Value of Other Financial Instruments — The carrying amount of receivables and liabilities approximates fair value.
 
Notes Receivable from Participants — Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest.  Delinquent participant loans are reclassified as distributions based upon the terms of the Plan document.
 
Payment of Benefits — Benefits payments to participants are recorded upon distribution.  At December 31, 2011 and 2010, amounts allocated to accounts of individuals who had elected to withdraw but had not yet been paid totaled $391,579 and $273,899, respectively.
 
Recently Issued Accounting Pronouncements — In May 2011, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2011-04, “Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRSs.”  ASU 2011-04 requires expansion of the disclosures required for Level 3 measurements of fair value and provides updates to the existing measurement guidance.  ASU 2011-04 is effective for annual periods beginning after December 15, 2011.  Plan management does not expect the adoption of ASU 2011-4 to have a material impact on the Plan’s financial statements.

In January 2010, the Financial Accounting Standards Board issued ASU 2010-6, “Improving Disclosures about Fair Value Investments.”  ASU 2010-6 amended the disclosure requirements in Accounting Standards Codification (“ASC”) 820.10 “Fair Value Measurements and Disclosures,” and required new disclosures regarding transfers in and out of Level 1 and Level 2 asset categories as well as more detailed information for the Level 3 reconciliation of activity, if required.  ASU 2010-6 also clarified existing disclosure requirements regarding the level of disaggregation expected, valuation techniques and inputs to fair value measurements.  The adoption of this guidance for the Plan year ended December 31, 2010 did not have a material impact on the Plan's financial statements.  See Note 4 - “Fair Value Measurements.”
 
In September 2010, the Financial Accounting Standards Board issued ASU 2010-25, “Reporting Loans to Participants by Defined Contribution Pension Plans.”  This guidance clarified the classification and measurement of participant loans by defined contribution pension plans.  Participant loans are required to be classified as notes receivable from participants (rather than investments) and must be measured at their unpaid principal balance plus accrued but unpaid interest.  The adoption of this guidance for the Plan year ended December 31, 2010 did not have a material impact on the Plan's financial statements.

   

 

6

 
 
3.       INVESTMENTS
 
The investments of the Plan as of December 31, 2011 and 2010 are summarized as follows:

 
 
Investments, at fair value:	 	2011	 	 	2010	 	
 	 	 	 	 	 	 	
    ADP Common Stock, 5,556,245 shares and 5,403,929 shares, respectively	 	$	302,666,515	*	 	$	253,058,319	 	
    Seix Intermediate Bond Fund	 	 	294,808,499	 	 	 	238,379,734	 	
    Goldman Sachs Financial Square Government Fund	 	 	225,441,863	*	 	 	-	 	
    Columbia Dividend Value Fund	 	 	206,174,817	 	 	 	183,186,521	 	
    Northern Trust S&P 500 Index Fund	 	 	203,503,309	*	 	 	-	 	
    Artio International Equity Fund - Institutional Fund	 	 	198,098,924	*	 	 	258,702,101	 	
    BlackRock Russell 2000 Growth Fund	 	 	184,330,835	*	 	 	175,423,277	 	
    Montag & Caldwell Large Cap Growth Fund	 	 	149,261,033	 	 	 	141,620,168	 	
    JPMorgan SmartRetirement 2020 Fund	 	 	140,973,090	*	 	 	132,637,228	 	
    JPMorgan SmartRetirement 2030 Fund	 	 	126,728,372	*	 	 	112,292,164	 	
    American Century Small Cap Value Fund	 	 	122,329,195	 	 	 	126,466,222	 	
    JPMorgan SmartRetirement 2040 Fund	 	 	91,288,563	 	 	 	77,325,268	 	
    JPMorgan SmartRetirement 2015 Fund	 	 	62,431,611	 	 	 	60,524,198	 	
    JPMorgan SmartRetirement 2010 Fund	 	 	30,484,964	 	 	 	29,146,496	 	
    JPMorgan SmartRetirement Income Fund	 	 	32,222,089	 	 	 	26,453,188	 	
    Western Asset Institutional Government Reserves Fund	 	 	-	 	 	 	212,068,291	 	
    UBS S&P 500 Index Fund	 	 	-	 	 	 	194,005,925	 	
    Fidelity Managed Income Portfolio	 	 	-	 	 	 	635,897	 	
    Broadridge Company Stock, 0 shares and 117 shares, respectively	 	 	-	 	 	 	2,566	 	
Total Investments	 	$	2,370,743,679	 	 	$	2,221,927,563	 	

* Investments held that represent 5% or more of the Plan’s net assets available for benefits at the end of each of the respective years. For separately managed accounts (Seix Intermediate Bond Fund, Columbia Dividend Value Fund, Montag & Caldwell Large Cap Growth Fund and American Century Small Cap Value Fund), underlying investments are used to make such determination.

During the year ended December 31, 2011, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value as follows:
 
    Artio International Equity Fund - Institutional Fund	 	$	(62,852,443	)	
    American Century Small Cap Value Fund	 	 	(10,357,006	)	
    BlackRock Russell 2000 Growth Fund	 	 	(6,225,898	)	
    JPMorgan SmartRetirement 2040 Fund	 	 	(3,867,898	)	
    JPMorgan SmartRetirement 2030 Fund	 	 	(3,794,517	)	
    Northern Trust S&P 500 Index Fund	 	 	(3,088,301	)	
    ADP Stock Fund	 	 	42,834,367	 	
    Seix Intermediate Bond Fund	 	 	10,452,607	 	
    Columbia Dividend Value Fund	 	 	7,962,479	 	
    UBS S&P 500 Index Fund	 	 	7,476,088	 	
    Montag & Caldwell Large Cap Growth Fund	 	 	3,751,496	 	
    JPMorgan SmartRetirement 2015 Fund	 	 	966,932	 	
    JPMorgan SmartRetirement 2010 Fund	 	 	767,277	 	
    JPMorgan SmartRetirement Income Fund	 	 	626,525	 	
    JPMorgan SmartRetirement 2020 Fund	 	 	195,048	 	
    Western Asset Institutional Government Reserves Fund	 	 	11	 	
    Fidelity Managed Income Portfolio	 	 	197	 	
    Goldman Sachs Financial Square Government Fund	 	 	(22	)	
    Net depreciation in fair value of investments	 	$	(15,153,058	)	

 

7
 
4.      FAIR VALUE MEASUREMENTS
 
The Plan applies the guidance in ASC 820.10 for assets recognized or disclosed at fair value on a recurring basis.  The guidance in ASC 820.10 defines fair value, establishes a framework for measuring fair value, and expands the disclosures on fair value measurements.  ASC 820.10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.  ASC 820.10 establishes market or observable inputs as the preferred source of fair value, followed by assumptions based on hypothetical transactions in the absence of market inputs.

 The valuation techniques required by ASC 820.10 are based upon observable and unobservable inputs.  Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Plan’s market assumptions. These two types of inputs create the following three-level hierarchy to prioritize the inputs used in measuring fair value.  The levels within the hierarchy are described below with Level 1 having the highest priority and Level 3 having the lowest priority.
 
 	Level 1 	Fair value is determined based upon closing prices for identical instruments that are traded on active exchanges.	
  	Level 2	Fair value is determined based upon quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable.	
  	Level 3	Fair value is determined based upon significant inputs to the valuation model that are unobservable.	

     Plan investments included in Level 1 are valued using closing prices for identical instruments that are traded on active exchanges.  Plan investments included in Level 2 are valued based upon the closing price fair values of the publicly traded underlying investments.
 
     There were no transfers in or out of Level 1 or Level 2 during the Plan years ended December 31, 2011 or Decembers 31, 2010.  The following tables present the investments of the Plan measured at fair value at December 31, 2011 and 2010.  See Note 3 - “Investments” for additional disclosure related to investments.

 
 
 	 	As of December 31, 2011	 	 	 	 	
Asset Class	 	Level 1	 	 	Level 2	 	 	Total	 	
 	 	 	 	 	 	 	 	 	 	
Equity Securities:	 	 	 	 	 	 	 	 	 	
   ADP Common Stock	 	$	302,037,152	 	 	$	-	 	 	$	302,037,152	 	
   Consumer Goods	 	 	151,944,484	 	 	 	 	 	 	 	151,944,484	 	
   Manufacturing and Industrial	 	 	104,249,063	 	 	 	-	 	 	 	104,249,063	 	
   Financial Services	 	 	68,965,181	 	 	 	-	 	 	 	68,965,181	 	
   Telecommunications and Other Services	 	 	63,921,613	 	 	 	159,563	 	 	 	64,081,176	 	
   Energy	 	 	50,960,868	 	 	 	-	 	 	 	50,960,868	 	
   Other	 	 	9,558,216	 	 	 	-	 	 	 	9,558,216	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Mutual Funds:	 	 	 	 	 	 	 	 	 	 	 	 	
  International Equity Securities	 	 	198,098,924	 	 	 	-	 	 	 	198,098,924	 	
  U.S. Equity Securities	 	 	5,215,385	 	 	 	-	 	 	 	5,215,385	 	
 	 	 	 	 	 	 	 	 	 	 	-	 	
Commingled Trusts	 	 	 	 	 	 	 	 	 	 	 	 	
  Target Date Retirement Funds	 	 	-	 	 	 	484,128,689	 	 	 	484,128,689	 	
  S&P 500 Index Funds	 	 	-	 	 	 	203,503,309	 	 	 	203,503,309	 	
  Growth Index Funds	 	 	-	 	 	 	184,330,835	 	 	 	184,330,835	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Money Markets	 	 	-	 	 	 	282,581,903	 	 	 	282,581,903	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed Income Securities:	 	 	 	 	 	 	 	 	 	 	 	 	
   U.S. Government Securities	 	 	-	 	 	 	143,592,737	 	 	 	143,592,737	 	
   AA Corporate Bonds	 	 	-	 	 	 	22,544,008	 	 	 	22,544,008	 	
   A Corporate Bonds	 	 	 	 	 	 	30,332,163	 	 	 	30,332,163	 	
   Mortgage-Backed Securities	 	 	-	 	 	 	64,619,586	 	 	 	64,619,586	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Investments	 	$	954,950,886	 	 	$	1,415,792,793	 	 	$	2,370,743,679	 	

 
 	 	As of December 31, 2010	 	 	 	 	
Asset Class	 	Level 1	 	 	Level 2	 	 	Total	 	
 	 	 	 	 	 	 	 	 	 	
Equity Securities:	 	 	 	 	 	 	 	 	 	
   ADP Common Stock	 	$	251,759,914	 	 	$	-	 	 	$	251,759,914	 	
   Consumer Goods	 	 	126,812,099	 	 	 	259,925	 	 	 	127,072,024	 	
   Manufacturing and Industrial	 	 	104,192,313	 	 	 	-	 	 	 	104,192,313	 	
   Financial Services	 	 	72,937,659	 	 	 	-	 	 	 	72,937,659	 	
   Telecommunications and Other Services	 	 	59,026,333	 	 	 	-	 	 	 	59,026,333	 	
   Energy	 	 	52,579,739	 	 	 	-	 	 	 	52,579,739	 	
   Other	 	 	11,545,850	 	 	 	-	 	 	 	11,545,850	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Mutual Funds:	 	 	 	 	 	 	 	 	 	 	 	 	
  International Equity Securities	 	 	258,702,101	 	 	 	-	 	 	 	258,702,101	 	
  U.S. Equity Securities	 	 	8,974,731	 	 	 	-	 	 	 	8,974,731	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Commingled Trusts	 	 	 	 	 	 	 	 	 	 	 	 	
  Target Date Retirement Funds	 	 	-	 	 	 	438,378,542	 	 	 	438,378,542	 	
  S&P 500 Index Funds	 	 	-	 	 	 	194,005,924	 	 	 	194,005,924	 	
  Growth Index Funds	 	 	-	 	 	 	175,423,277	 	 	 	175,423,277	 	
  Managed Income Portfolio	 	 	-	 	 	 	635,897	 	 	 	635,897	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Money Markets	 	 	-	 	 	 	229,200,254	 	 	 	229,200,254	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Fixed Income Securities:	 	 	 	 	 	 	 	 	 	 	 	 	
   U.S. Government Securities	 	 	-	 	 	 	147,116,717	 	 	 	147,116,717	 	
   AA Corporate Bonds	 	 	-	 	 	 	27,338,645	 	 	 	27,338,645	 	
   A Corporate Bonds	 	 	 	 	 	 	24,733,535	 	 	 	24,733,535	 	
   Mortgage-Backed Securities	 	 	-	 	 	 	38,304,108	 	 	 	38,304,108	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Investments	 	$	946,530,739	 	 	$	1,275,396,824	 	 	$	2,221,927,563	 	

 

8

4.  FAIR VALUE MEASUREMENTS (continued)

The following table presents the investments of the Plan with a reported net asset value as of December 31, 2011 and December 31, 2010:

 	 	December 31, 2011	 	 	December 31, 2010	 	Redemption	Redemption	
 	 	Fair Value	 	 	Fair Value	 	Frequency	Notice Period	
 	 	 	 	 	 	 	 	 	
Northern Trust S&P 500 Index Fund (1)	 	$	203,503,309	 	 	$	-	 	 Daily	 Trade date + 1	
BlackRock Russell 2000 Growth Fund (2)	 	 	184,330,835	 	 	 	175,423,277	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement Income Fund (3)	 	 	32,222,089	 	 	 	26,453,188	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement 2010 Fund (4)	 	 	30,484,964	 	 	 	29,146,496	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement 2015 Fund (4)	 	 	62,431,611	 	 	 	60,524,198	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement 2020 Fund (4)	 	 	140,973,090	 	 	 	132,637,228	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement 2030 Fund (4)	 	 	126,728,372	 	 	 	112,292,164	 	 Daily	 Trade date + 1	
JPMorgan SmartRetirement 2040 Fund (4)	 	 	91,288,563	 	 	 	77,325,268	 	 Daily	 Trade date + 1	
UBS Standard & Poor's 500 Index Fund (1)	 	 	-	 	 	 	194,005,924	 	 Daily	 Trade date + 1	
Fidelity Managed Income Portfolio	 	 	-	 	 	 	635,897	 	 Daily	 Trade date + 1	
Total	 	$	871,962,833	 	 	$	808,443,640	 	 	 	

(1) The objective of this fund is to provide a rate of return consistent with the Standard & Poor's 500 Index.
(2) The objective of this fund is to provide a rate of return consistent with the Russell 2000 Growth Index.
(3) The objective of this fund is to outperform a custom benchmark of domestic and international equities, fixed income and real estate investments that has risk and return characteristics designed for investors who are retired or expecting to retire in the near term.
(4) The objective of these funds is to outperform custom benchmarks of domestic and international equities, fixed income and real estate investments that have risk and return characteristics designed for investors who are expecting to retire near the applicable fund's target retirement date.

 
5.      EXEMPT PARTY-IN-INTEREST TRANSACTIONS
 
At December 31, 2011 and 2010, the Plan held 5,592,245 and 5,439,929 shares, respectively, of Company Stock with a cost basis of $215,793,536 and $203,402,208, respectively.  For the year ended December 31, 2011, the Plan recorded dividend income in the amount of $8,141,367 from participants’ investments in the ADP Stock Fund.
 
Certain Plan investments are shares of mutual funds and money market funds managed by JPMorgan.  JPMorgan is the custodian of the Plan.
 
Certain employees and officers of the Company, who may also be participants in the Plan, perform administrative services to the Plan at no cost to the Plan.
 
These party-in-interest transactions are not deemed prohibited because they are covered by statutory and administrative exemptions from the IRC, the rules thereunder, and from the prohibited transactions provisions of ERISA.
 
6.	NONEXEMPT TRANSACTIONS	
 
 	As reported on the supplemental schedule of delinquent participant contributions (Schedule H, Line 4a), certain Plan contributions were not remitted to the trust within the time frame specified by the Department of Labor's Regulation 29 (CFR 2510.3-102), thus constituting nonexempt transactions between the Plan and the Company for the year ended December 31, 2011. Total late participant contributions amounted to $188,014.  During 2012, the Plan Sponsor entered the Voluntary Correction Program (“VCP”) and remitted the late participant contributions to the Plan.	

 
7.	PLAN TERMINATION	
 
Although the Company has not expressed any intention to do so, it has the right under the provisions of the Plan to discontinue its contributions at any time by amending or terminating the Plan subject to the provisions of ERISA. However, upon full or partial termination of the Plan, each participant who is then an employee of the Company shall become 100% vested in his or her employer matching contribution account, and shall not be subjected to forfeiture.  Furthermore, no amendment shall decrease a participant’s vested interest under the Plan at the effective date of such amendment.

 
8.	FEDERAL INCOME TAX STATUS	
 
The Internal Revenue Service (“IRS”) has determined and informed the Company by letter dated August 9, 2002 that the Plan and related Trust are designed in accordance with applicable sections of the IRC. The Plan has been amended since receiving the determination letter.  However, ADP and Plan management believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC, and that the Plan and related Trust continue to be tax exempt.  Therefore, no provision for income taxes has been included in the Plan’s financial statements.
 
Generally Accepted Accounting Principles (United States of America) require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS.  The Plan Administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2011, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.  The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.  The Plan Administrator believes the Plan is no longer subject to income tax examinations for years prior to 2008.

 

9

 
AUTOMATIC DATA PROCESSING, INC.
RETIREMENT AND SAVINGS PLAN
Plan Number 002
Plan Sponsor EIN 22-1467904

SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
(Schedule H, Line 4a)
YEAR ENDED DECEMBER 31, 2011

 
 
Participant
Contributions
Transferred 
Late to the Plan	 	 
 
Check Here if Late Participant Loan  
  Repayments are Included	 

 
 
Contributions   
Not Corrected	 
Contributions Corrected Outside
V oluntary Correction Program (“VCP”)	 	 
Contributions 
Pending
Correction in VCP	 	Total Fully Corrected
Under VCP
and Prohibited Transaction 
Exemption 2002-51	
 	 	 	 	 	 	 	 	 	
$	188,014	 	 	 	 	 	$	188,014	 	 	

 

 

 

10

 

 	 	 	Plan Number 002	 	 	 	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
ADP STOCK FUND	 	 	 	 	 	 	 	
Common Stock	 	 	 	 	 	 	 	
*AUTOMATIC DATA PROCESSING, INC. COMMON STOCK	Common Stock	 	 	5,556,245	 	 	$	300,092,793	 	
 	 	 	 	 	 	 	 	 	 	
Short-Term Investment Fund	 	 	 	 	 	 	 	 	 	
*J.P. Morgan U.S. Government Short-Term Investment Fund	Money Market	 	 	2,573,722	 	 	 	2,573,722	 	
 	 	 	 	 	 	 	 	 	 	
TOTAL ADP STOCK FUND	 	 	 	 	 	 	$	302,666,515	 	
 	 	 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND	 	 	 	 	 	 	 	 	 	
Common Stock	 	 	 	 	 	 	 	 	 	
AAR CORP COM STK	Common Stock	 	 	13,200	 	 	$	253,044	 	
ACTUANT CORP CLS 'A' COM STK	Common Stock	 	 	12,600	 	 	 	285,894	 	
AGL RESOURCES	Common Stock	 	 	11,700	 	 	 	494,442	 	
ALASKA AIR GROUP INC COM STK	Common Stock	 	 	6,300	 	 	 	473,067	 	
ALEXANDER & BALDWIN INC COM STK	Common Stock	 	 	5,400	 	 	 	220,428	 	
ALLEGIANT TRAVEL COM STK	Common Stock	 	 	3,400	 	 	 	181,356	 	
ALLIANT TECHSYSTEMS INC COM STK	Common Stock	 	 	10,000	 	 	 	571,600	 	
ALTERRA CAPITAL HLDGS LTD	Common Stock	 	 	24,000	 	 	 	567,120	 	
ALTRA HOLDINGS INC COM STK	Common Stock	 	 	30,400	 	 	 	572,432	 	
AMERICAN AXLE & MANUFACTURING HLDGS  COM	Common Stock	 	 	60,400	 	 	 	597,356	 	
AMERICAN EAGLE OUTFITTER COM STK	Common Stock	 	 	24,600	 	 	 	376,134	 	
AMERICAN EQUITY INVT LIFE HLDG CO COM ST	Common Stock	 	 	29,200	 	 	 	303,680	 	
AMERICAN NATIONAL BANKSHARES COM STK	Common Stock	 	 	16,100	 	 	 	313,789	 	
AMERICAN SCIENCE & ENGINEERING INC COM S	Common Stock	 	 	14,600	 	 	 	994,406	 	
AMSURG CORP COM STK	Common Stock	 	 	8,900	 	 	 	231,756	 	
APOGEE ENTERPRISES INC COM STK	Common Stock	 	 	11,200	 	 	 	137,312	 	
APOLLO INVESTMENT CORP COM STK	Common Stock	 	 	27,500	 	 	 	177,100	 	
APPLIED INDUSTRIAL TECHNOLOGIES INC COM	Common Stock	 	 	10,500	 	 	 	369,285	 	
ARES CAPITAL CORP COM STK	Common Stock	 	 	15,900	 	 	 	245,655	 	
ARKANSAS BEST CORP COM STK	Common Stock	 	 	8,500	 	 	 	163,795	 	
ARTESIAN RESOURCES CORP CLASS 'A' COM STK	Common Stock	 	 	18,500	 	 	 	348,355	 	
ARTIO GLOBAL INVESTORS INC	Common Stock	 	 	20,000	 	 	 	97,600	 	
ASPEN INSURANCE HLDGS COM STK	Common Stock	 	 	35,000	 	 	 	927,500	 	
ASSISTED LIVING CONCEPTS INC CLASS 'A' COM	Common Stock	 	 	8,100	 	 	 	120,609	 	
ASSOCIATED BANC-CORP COM STK	Common Stock	 	 	17,000	 	 	 	189,890	 	
ATLANTIC TELE NETWORK INC COM STK	Common Stock	 	 	5,000	 	 	 	195,250	 	
ATMOS ENERGY CORP COM STK	Common Stock	 	 	12,900	 	 	 	430,215	 	
AVISTA CORP COM STK	Common Stock	 	 	17,100	 	 	 	440,325	 	
BALDWIN & LYONS INC CLASS 'B'	Common Stock	 	 	18,000	 	 	 	392,400	 	
BALLY TECHNOLOGIES INC COM STK	Common Stock	 	 	12,100	 	 	 	478,676	 	
BANKUNITED INC	Common Stock	 	 	45,500	 	 	 	1,000,545	 	
BARNES GROUP INC COM STK	Common Stock	 	 	13,600	 	 	 	327,896	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

11

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	 	 	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
BEL FUSE INC CLASS 'B' SHS	Common Stock	 	 	21,800	 	 	$	408,750	 	
BELO CORP CLASS 'A' COM STK	Common Stock	 	 	74,700	 	 	 	470,610	 	
BEMIS CO INC COM STK	Common Stock	 	 	21,300	 	 	 	640,704	 	
BENCHMARK ELECTRONICS INC COM STK	Common Stock	 	 	21,400	 	 	 	288,258	 	
BERRY PETROLEUM CORP CLASS 'A' COM STK	Common Stock	 	 	11,500	 	 	 	483,230	 	
BIG LOTS INC COM STK	Common Stock	 	 	13,100	 	 	 	494,656	 	
BILL BARRETT CORP COM	Common Stock	 	 	12,100	 	 	 	412,247	 	
BLACK HILLS CORP COM STK	Common Stock	 	 	10,900	 	 	 	366,022	 	
BLACKROCK KELSO CAPITAL CORP	Common Stock	 	 	15,300	 	 	 	124,848	 	
BLUE COAT SYS INC	Common Stock	 	 	5,100	 	 	 	129,795	 	
BOB EVANS FARMS INC COM STK	Common Stock	 	 	9,200	 	 	 	308,568	 	
BOK FINANCIAL CORP COM STK	Common Stock	 	 	10,700	 	 	 	587,751	 	
BOSTON PRIVATE FINANCIAL HLDGS INC COM	Common Stock	 	 	58,900	 	 	 	467,666	 	
BRADY CORP 'A' NON.V	Common Stock	 	 	21,300	 	 	 	672,441	 	
BRIGGS & STRATTON CORP COM STK	Common Stock	 	 	27,300	 	 	 	422,877	 	
BRINK'S COMPANY BRINKS GROUP COM	Common Stock	 	 	11,400	 	 	 	306,432	 	
BRINKER INTERNATIONAL COM STK	Common Stock	 	 	11,400	 	 	 	305,064	 	
BRISTOW GROUP INC COM STK	Common Stock	 	 	8,100	 	 	 	383,859	 	
BROOKLINE BANCORP	Common Stock	 	 	30,400	 	 	 	256,576	 	
BRUNSWICK CORP COM STK	Common Stock	 	 	21,700	 	 	 	391,902	 	
CABELAS INC COM STK	Common Stock	 	 	7,600	 	 	 	193,192	 	
CAL DIVE INTL INC DEL COM STK	Common Stock	 	 	65,500	 	 	 	147,375	 	
CAMPUS CREST COMMUNITIES INC	Common Stock	 	 	26,200	 	 	 	263,572	 	
CAPITOL FEDERAL FINANCIAL INC	Common Stock	 	 	47,800	 	 	 	551,612	 	
CDI CORP COM STK	Common Stock	 	 	30,400	 	 	 	419,824	 	
CEC ENTERTAINMENT COM STK	Common Stock	 	 	7,100	 	 	 	244,595	 	
CENTENE CORP (DEL) COM STK	Common Stock	 	 	6,300	 	 	 	249,417	 	
CENTURY ALUMINIUM COM STK	Common Stock	 	 	19,500	 	 	 	165,945	 	
CERADYNE INC COM STK	Common Stock	 	 	4,800	 	 	 	128,544	 	
CHESAPEAKE UTILITIES CORP COM STK	Common Stock	 	 	4,800	 	 	 	208,080	 	
CITY NATIONAL CORP COM STK	Common Stock	 	 	6,800	 	 	 	300,424	 	
CLEARWATER PAPER CORPORATION	Common Stock	 	 	13,700	 	 	 	487,857	 	
CLECO CORP COM STK	Common Stock	 	 	14,100	 	 	 	537,210	 	
COHERENT INC COM STK	Common Stock	 	 	3,500	 	 	 	182,945	 	
COLLECTIVE BRANDS INC COM STK	Common Stock	 	 	17,500	 	 	 	251,475	 	
COLUMBIA SPORTSWEAR CO COM STK	Common Stock	 	 	13,100	 	 	 	609,805	 	
COMFORT SYSTEMS USA COM STK	Common Stock	 	 	13,300	 	 	 	142,576	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

12

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
COMMUNITY BANK SYSTEMS NY COM STK	Common Stock	 	 	9,900	 	 	$	275,220	 	
COMPUWARE CORP COM STK	Common Stock	 	 	32,000	 	 	 	266,240	 	
COMSTOCK RESOURCES INC COM STK	Common Stock	 	 	19,300	 	 	 	295,290	 	
CONVERGYS CORP COM STK	Common Stock	 	 	25,900	 	 	 	330,743	 	
COOPER TIRE & RUBBER CO COM STK	Common Stock	 	 	29,300	 	 	 	410,493	 	
CORE-MARK HLDG CO INC COM STK	Common Stock	 	 	5,100	 	 	 	201,960	 	
COVANCE INC COM STK	Common Stock	 	 	5,400	 	 	 	246,888	 	
CSS INDUSTRIES INC COM STK	Common Stock	 	 	17,100	 	 	 	340,632	 	
CULLEN FROST BANKERS COM STK	Common Stock	 	 	13,100	 	 	 	693,121	 	
CULP INC COM STK	Common Stock	 	 	29,100	 	 	 	247,932	 	
CURTISS-WRIGHT CORP COM STK	Common Stock	 	 	21,900	 	 	 	773,727	 	
CUTERA INC COM STK	Common Stock	 	 	29,600	 	 	 	220,520	 	
CVB FINANCIAL NPV	Common Stock	 	 	19,400	 	 	 	194,582	 	
CYMER INC COM STK	Common Stock	 	 	6,300	 	 	 	313,488	 	
CYTEC INDUSTRIES INC COM STK	Common Stock	 	 	2,400	 	 	 	107,160	 	
DANA HOLDING CORP	Common Stock	 	 	32,200	 	 	 	391,230	 	
DESTINATION MATERNITY CORP	Common Stock	 	 	21,400	 	 	 	357,808	 	
DIANA CONTAINERSHIPS INC	Common Stock	 	 	1	 	 	 	5	 	
DIANA SHIPPING INC COM STK	Common Stock	 	 	54,100	 	 	 	404,668	 	
DILLARDS INC CLASS 'A' COM	Common Stock	 	 	8,200	 	 	 	368,016	 	
DOLE FOOD CO INC	Common Stock	 	 	26,800	 	 	 	231,820	 	
DOUGLAS DYNAMICS INC	Common Stock	 	 	11,800	 	 	 	172,516	 	
DST SYSTEMS INC DELAWARE COM STK	Common Stock	 	 	26,300	 	 	 	1,197,176	 	
DYNAMIC MATERIALS CORP COM STK	Common Stock	 	 	11,200	 	 	 	221,536	 	
EL PASO ELECTRIC CO COM STK	Common Stock	 	 	10,600	 	 	 	367,184	 	
ELECTRO SCIENTIFIC INDUSTRIES INC COM ST	Common Stock	 	 	8,900	 	 	 	128,872	 	
EMCOR GROUP COM STK	Common Stock	 	 	14,800	 	 	 	396,788	 	
EMULEX CORP COM STK	Common Stock	 	 	23,000	 	 	 	157,780	 	
ENCORE WIRE CORP COM STK	Common Stock	 	 	32,000	 	 	 	828,800	 	
ENTERCOM COMMUNICATIONS COM STK	Common Stock	 	 	53,800	 	 	 	330,870	 	
ENTRAVISION COMMUNICATIONS CORP CLASS 'A'	Common Stock	 	 	184,900	 	 	 	288,444	 	
EURONET WORLDWIDE INC COM STK	Common Stock	 	 	10,800	 	 	 	199,584	 	
FERRO CORP COM STK	Common Stock	 	 	15,000	 	 	 	73,350	 	
FIFTH STREET FINANCE CORP	Common Stock	 	 	17,200	 	 	 	164,604	 	
FINISH LINE IN CLASS 'A' COM STK	Common Stock	 	 	24,800	 	 	 	478,268	 	
FIRST FINANCIAL BANCORP	Common Stock	 	 	12,800	 	 	 	212,992	 	
FIRST HORIZON NATIONAL CORP COM STK	Common Stock	 	 	163,900	 	 	 	1,311,200	 	
FIRST INTERSTATE BANCSYSTEM INC	Common Stock	 	 	16,200	 	 	 	211,086	 	
FIRSTMERIT CORP COM STK	Common Stock	 	 	49,300	 	 	 	745,909	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

13

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
FLUSHING FINANCIAL CORP COM STK	Common Stock	 	 	13,600	 	 	$	171,768	 	
FNB CORP PA COM STK	Common Stock	 	 	22,900	 	 	 	258,999	 	
FOREST OIL CORP COM STK	Common Stock	 	 	10,000	 	 	 	135,500	 	
FORMFACTOR INC COM STK	Common Stock	 	 	44,300	 	 	 	224,158	 	
FRED'S INC CLASS 'A' COM STK	Common Stock	 	 	16,700	 	 	 	243,486	 	
FREIGHTCAR AMERICA INC COM STK	Common Stock	 	 	11,700	 	 	 	245,115	 	
FULLER (H.B.) CO COM STK	Common Stock	 	 	14,300	 	 	 	330,473	 	
FULTON FINANCIAL CORP COM STK	Common Stock	 	 	104,000	 	 	 	1,020,240	 	
GALLAGHER (ARTHUR J.) & CO COM	Common Stock	 	 	7,800	 	 	 	260,832	 	
GANNETT CO INC COM STK	Common Stock	 	 	25,000	 	 	 	334,250	 	
GENESCO INC COM STK	Common Stock	 	 	3,600	 	 	 	222,264	 	
GEORGIA GULF CORP COM STK	Common Stock	 	 	7,600	 	 	 	148,124	 	
GRACE (W.R.) & CO COM STK	Common Stock	 	 	4,300	 	 	 	197,456	 	
GRANITE CONSTRUCTION COM STK	Common Stock	 	 	53,700	 	 	 	1,273,764	 	
GREAT PLAINS ENERGY INC COM STK	Common Stock	 	 	46,500	 	 	 	1,012,770	 	
GUESS INC COM STK	Common Stock	 	 	13,100	 	 	 	390,642	 	
HANOVER INSURANCE GROUP INC COM STK	Common Stock	 	 	6,800	 	 	 	237,660	 	
HARTE-HANKS INC COM STK	Common Stock	 	 	10,600	 	 	 	96,354	 	
HAWKINS INC COM STK	Common Stock	 	 	5,400	 	 	 	199,044	 	
HCC INSURANCE HLDG COM STK	Common Stock	 	 	59,700	 	 	 	1,641,750	 	
HEALTHSOUTH CORP COM STK	Common Stock	 	 	23,800	 	 	 	420,546	 	
HECLA MINING CO COM STK	Common Stock	 	 	39,100	 	 	 	204,493	 	
HEIDRICK & STRUGGLES COM STK	Common Stock	 	 	16,600	 	 	 	357,564	 	
HELEN OF TROY COM STK	Common Stock	 	 	4,040	 	 	 	124,028	 	
HELIX ENERGY SOLUTIONS GROUP INC COM STK	Common Stock	 	 	25,900	 	 	 	409,220	 	
HERCULES TECHNOLOGY GROWTH CAP INC COM S	Common Stock	 	 	25,200	 	 	 	237,888	 	
HERITAGE FINANCIAL CORP COM STK	Common Stock	 	 	29,900	 	 	 	375,544	 	
HUBBELL INC CLASS 'B'	Common Stock	 	 	4,400	 	 	 	294,184	 	
HUGOTON ROYALTY TR UNITS OF BEN INTEREST	Common Stock	 	 	14,200	 	 	 	267,812	 	
IBERIABANK CORP COM STK	Common Stock	 	 	3,393	 	 	 	167,275	 	
ICU MEDICAL INC COM STK	Common Stock	 	 	8,600	 	 	 	387,000	 	
IDACORP INC COM STK	Common Stock	 	 	7,700	 	 	 	326,557	 	
IDEX CORP COM STK	Common Stock	 	 	8,200	 	 	 	304,302	 	
II-VI INC	Common Stock	 	 	13,700	 	 	 	251,532	 	
IMPAX LABORATORIES INC COM STK	Common Stock	 	 	11,300	 	 	 	227,921	 	
INFINITY PROPERTY & CASUALTY CORP COM	Common Stock	 	 	2,900	 	 	 	164,546	 	
INNOPHOS HOLDINGS INC COM	Common Stock	 	 	6,500	 	 	 	315,640	 	
INTER PARFUMS INC COM STK	Common Stock	 	 	14,200	 	 	 	220,952	 	
INTERSIL CORP CLASS 'A' COM STK	Common Stock	 	 	30,400	 	 	 	317,376	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

14

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
J & J SNACK FOODS CORP COM STK	Common Stock	 	 	9,100	 	 	$	484,848	 	
JACK IN THE BOX INC COM STK	Common Stock	 	 	8,800	 	 	 	183,920	 	
JDA SOFTWARE GROUP INC COM STK	Common Stock	 	 	7,900	 	 	 	255,881	 	
KAISER FEDERAL FINANCIAL GROUP INC	Common Stock	 	 	14,800	 	 	 	189,736	 	
KAMAN CORP	Common Stock	 	 	8,000	 	 	 	218,560	 	
KAPSTONE PAPER & PACKAGING CORP COM STK	Common Stock	 	 	26,200	 	 	 	412,388	 	
KAYDON CORP COM STK	Common Stock	 	 	29,300	 	 	 	893,650	 	
KENNAMETAL INC CAP STK	Common Stock	 	 	19,285	 	 	 	704,288	 	
KEY ENERGY SERVICES INC COM STK	Common Stock	 	 	4,500	 	 	 	69,615	 	
KFORCE INC COM STK	Common Stock	 	 	24,500	 	 	 	302,085	 	
KNIGHT CAPITAL GROUP INC CLASS A COM ST	Common Stock	 	 	14,800	 	 	 	174,936	 	
KRATON PERFORMANCE POLYMERS INC	Common Stock	 	 	6,600	 	 	 	133,980	 	
LA-Z-BOY INC COM STK	Common Stock	 	 	27,600	 	 	 	328,440	 	
LACLEDE GROUP INC COM STK	Common Stock	 	 	4,100	 	 	 	165,927	 	
LAKELAND FINANCIAL CORP COM STK	Common Stock	 	 	16,100	 	 	 	416,507	 	
LAWSON PRODUCTS INC COM STK	Common Stock	 	 	20,093	 	 	 	310,035	 	
LEXMARK INTERNATIONAL INC CLASS 'A' COM ST	Common Stock	 	 	5,100	 	 	 	168,657	 	
LIFEPOINT HOSPITALS INC COM STK	Common Stock	 	 	10,800	 	 	 	401,220	 	
LIN TV CORP COM STK	Common Stock	 	 	102,000	 	 	 	431,460	 	
LINCARE HLDGS INC COM STK	Common Stock	 	 	22,700	 	 	 	583,617	 	
LINCOLN ELECTRIC HLDS INC COM STK	Common Stock	 	 	9,200	 	 	 	359,904	 	
LITHIA MOTORS INC CLASS 'A' COM STK	Common Stock	 	 	19,400	 	 	 	424,084	 	
LITTELFUSE INC COM STK	Common Stock	 	 	17,000	 	 	 	730,660	 	
LONE PINE RESOURCES	Common Stock	 	 	8,207	 	 	 	57,531	 	
LSI INDUSTRIES COM STK	Common Stock	 	 	26,100	 	 	 	156,600	 	
MAGELLAN HEALTH SERVICES INC	Common Stock	 	 	6,700	 	 	 	331,449	 	
MATERION CORP COM STK	Common Stock	 	 	18,900	 	 	 	458,892	 	
MCG CAPITAL CORP COM STK	Common Stock	 	 	25,100	 	 	 	100,149	 	
MDC HLDGS INC COM STK	Common Stock	 	 	7,700	 	 	 	135,751	 	
MDU RESOURCES GROUP INC COM STK	Common Stock	 	 	8,500	 	 	 	182,410	 	
MEDICIS PHARMACEUTICAL CORP CLASS A COM	Common Stock	 	 	3,800	 	 	 	126,350	 	
MENS WEARHOUSE INC COM STK	Common Stock	 	 	9,400	 	 	 	304,654	 	
METALICO INC COM	Common Stock	 	 	80,900	 	 	 	266,161	 	
METHODE ELECTRONICS INC COM CLASS 'A'	Common Stock	 	 	30,700	 	 	 	254,503	 	
MGE ENERGY INC COM STK	Common Stock	 	 	2,581	 	 	 	120,713	 	
MINERALS TECHNOLOGIES INC COM STK	Common Stock	 	 	9,100	 	 	 	514,423	 	
MKS INSTRUMENTS INC COM STK	Common Stock	 	 	3,900	 	 	 	108,498	 	
MOLEX INC COM STK	Common Stock	 	 	12,600	 	 	 	300,636	 	
MOOG INC CLASS 'A' (LIM.V)	Common Stock	 	 	7,000	 	 	 	307,510	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

15

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
MUELLER INDUSTRIES INC COM STK	Common Stock	 	 	7,100	 	 	$	272,782	 	
NANOMETRICS COM STK	Common Stock	 	 	19,400	 	 	 	357,348	 	
NATIONAL BANKSHARES INC COM STK	Common Stock	 	 	10,000	 	 	 	279,200	 	
NATIONAL HEALTH CARE CORP COM STK	Common Stock	 	 	8,000	 	 	 	335,200	 	
NATIONAL PRESTO INDUSTRIES INC COM STK	Common Stock	 	 	5,900	 	 	 	552,240	 	
NEUSTAR INC CLS 'A'	Common Stock	 	 	11,900	 	 	 	406,623	 	
NORTHWESTERN CORPORATION COM STK	Common Stock	 	 	8,100	 	 	 	289,899	 	
NOVELLUS SYSTEMS INC COM STK	Common Stock	 	 	9,000	 	 	 	371,610	 	
NV ENERGY INC COM STK	Common Stock	 	 	23,700	 	 	 	387,495	 	
OLD NATIONAL BANCORP (INDIANA) COM STK	Common Stock	 	 	20,700	 	 	 	241,155	 	
OLIN CORP COM STK	Common Stock	 	 	7,700	 	 	 	151,305	 	
OM GROUP INC COM STK	Common Stock	 	 	10,800	 	 	 	241,812	 	
ON ASSIGNMENT COM STK	Common Stock	 	 	39,000	 	 	 	436,020	 	
OPLINK COMMUNICATIONS INC COM NEW	Common Stock	 	 	14,400	 	 	 	237,168	 	
ORBITAL SCIENCES COM STK	Common Stock	 	 	12,300	 	 	 	178,719	 	
ORIENT EXPRESS HOTELS LTD CLS A COM STK	Common Stock	 	 	19,800	 	 	 	147,906	 	
ORITANI FINANCIAL CORP	Common Stock	 	 	14,300	 	 	 	182,611	 	
OSHKOSH CORPORATION	Common Stock	 	 	9,300	 	 	 	198,834	 	
OVERSEAS SHIPHOLDING GROUP INC COM STK	Common Stock	 	 	5,200	 	 	 	56,836	 	
OWENS & MINOR INC COM STK	Common Stock	 	 	19,400	 	 	 	539,126	 	
PACIFIC CONTINETAL CORP COM STK	Common Stock	 	 	25,400	 	 	 	224,790	 	
PAR PHARMACEUTICAL	Common Stock	 	 	17,000	 	 	 	556,410	 	
PARK ELECTROCHEMICAL CORP COM STK	Common Stock	 	 	20,700	 	 	 	530,334	 	
PARK STERLING CORP	Common Stock	 	 	70,800	 	 	 	288,864	 	
PENN VIRGINIA CORP COM STK	Common Stock	 	 	34,600	 	 	 	183,034	 	
PENNANTPARK INVESTMENT CORP COM STK	Common Stock	 	 	39,900	 	 	 	402,591	 	
PENSKE AUTOMOTIVE GROUP INC COM STK	Common Stock	 	 	18,200	 	 	 	350,350	 	
PHOTRONICS INC COM STK	Common Stock	 	 	36,700	 	 	 	223,136	 	
PIKE ELECTRIC CORPORATION COM STK	Common Stock	 	 	45,900	 	 	 	330,021	 	
PLANTRONICS INC COM STK	Common Stock	 	 	6,600	 	 	 	235,224	 	
PLATINUM UNDERWRITERS HLDGS LTD	Common Stock	 	 	16,500	 	 	 	562,815	 	
PLEXUS CORP COM STK	Common Stock	 	 	30,500	 	 	 	835,090	 	
PORTLAND GENERAL ELECTRIC CO COM	Common Stock	 	 	19,700	 	 	 	498,213	 	
PRESTIGE BRANDS HLDGS INC COM STK	Common Stock	 	 	12,000	 	 	 	135,240	 	
PRIMERICA INC	Common Stock	 	 	10,900	 	 	 	253,316	 	
PRIMO WATER CORP	Common Stock	 	 	84,246	 	 	 	256,108	 	
PROASSURANCE CORP COM STK	Common Stock	 	 	5,400	 	 	 	431,028	 	
PROSPECT CAPITAL CORP COM STK	Common Stock	 	 	18,100	 	 	 	168,149	 	
PROVIDENT FINANCIAL SERVICES INC COM STK	Common Stock	 	 	24,300	 	 	 	325,377	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

16

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
PSS WORLD MEDICAL INC COM STK	Common Stock	 	 	13,000	 	 	$	314,470	 	
QLOGIC CORP COM STK	Common Stock	 	 	49,500	 	 	 	742,500	 	
QUEST SOFWARE INC COM STK	Common Stock	 	 	136,900	 	 	 	2,546,340	 	
RADIOSHACK CORP COM STK	Common Stock	 	 	47,400	 	 	 	460,254	 	
RALCORP HOLDINGS INC COM STK	Common Stock	 	 	4,000	 	 	 	342,000	 	
RENT-A-CENTER INC COM STK	Common Stock	 	 	2,000	 	 	 	74,000	 	
ROBBINS & MYERS INC COM	Common Stock	 	 	4,000	 	 	 	194,200	 	
RTI INTERNATIONAL METALS INC COM STK	Common Stock	 	 	12,100	 	 	 	280,841	 	
RUDDICK CORP COM STK	Common Stock	 	 	3,200	 	 	 	136,448	 	
SCHNITZER STEEL COM STK CLASS A	Common Stock	 	 	7,000	 	 	 	295,960	 	
SCHULMAN (A.) INC COM STK	Common Stock	 	 	4,100	 	 	 	86,838	 	
SCRIPPS (EW) CO NEW CLASS 'A' COM STK	Common Stock	 	 	14,400	 	 	 	115,344	 	
SEMTECH CORP COM STK	Common Stock	 	 	7,300	 	 	 	181,186	 	
SENSIENT TECHNOLOGIES CORP COM STK	Common Stock	 	 	2,626	 	 	 	99,525	 	
SIMPSON MFG CO INC COM STK	Common Stock	 	 	5,700	 	 	 	191,862	 	
SNYDER'S- LANCE INC	Common Stock	 	 	15,400	 	 	 	346,500	 	
SONOCO PRODUCTS CO COM STK	Common Stock	 	 	5,400	 	 	 	177,984	 	
SPANSION INC	Common Stock	 	 	72,200	 	 	 	597,816	 	
STANDARD MICROSYSTEMS CORP COM STK	Common Stock	 	 	20,100	 	 	 	517,977	 	
SUN HEALTHCARE GROUP INC	Common Stock	 	 	0.003	 	 	 	0	 	
SWIFT ENERGY CO COM STK	Common Stock	 	 	14,000	 	 	 	416,080	 	
SYKES ENTERPRISES INC COM STK	Common Stock	 	 	30,300	 	 	 	474,498	 	
SYMETRA FINANCIAL CORP	Common Stock	 	 	22,700	 	 	 	205,889	 	
SYNOPSYS INC COM STK	Common Stock	 	 	6,200	 	 	 	168,640	 	
TCF FINANCIAL COM STK	Common Stock	 	 	53,600	 	 	 	553,152	 	
TECH DATA CORP COM STK	Common Stock	 	 	3,600	 	 	 	177,876	 	
TELEDYNE TECHNOLOGIES INC COM STK	Common Stock	 	 	4,300	 	 	 	235,855	 	
TELLABS INC COM STK	Common Stock	 	 	64,800	 	 	 	261,792	 	
TETRA TECHNOLOGIES COM STK	Common Stock	 	 	75,000	 	 	 	700,500	 	
THOMAS & BETTS CORP COM STK	Common Stock	 	 	3,300	 	 	 	180,180	 	
THOMPSON CREEK MET COM	Common Stock	 	 	68,100	 	 	 	473,976	 	
TOTAL SYSTEM SERVICES INC	Common Stock	 	 	47,400	 	 	 	927,144	 	
TREDEGAR CORP COM	Common Stock	 	 	15,900	 	 	 	353,298	 	
TRICO BANCSHARES COM STK	Common Stock	 	 	20,700	 	 	 	294,354	 	
TRIUMPH GROUP INC COM STK	Common Stock	 	 	3,100	 	 	 	181,195	 	
TRUSTMARK CORP COM STK	Common Stock	 	 	17,100	 	 	 	415,359	 	
UMPQUA HOLDINGS CORP COM STK	Common Stock	 	 	23,900	 	 	 	296,121	 	
UNIT CORP COM STK	Common Stock	 	 	6,800	 	 	 	315,520	 	
UNITED BANKSHARES INC COM STK	Common Stock	 	 	7,200	 	 	 	203,544	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

17

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
UNITED FIRE & CASUALTY CO COM STK	Common Stock	 	 	18,600	 	 	$	375,348	 	
UNITIL CORP COM STK	Common Stock	 	 	10,700	 	 	 	303,666	 	
US ECOLOGY INC COM STK	Common Stock	 	 	28,200	 	 	 	529,596	 	
US PHYSICAL THERAPY COM STK	Common Stock	 	 	9,500	 	 	 	186,960	 	
UTAH MEDICAL PRODUCTS COM STK	Common Stock	 	 	10,100	 	 	 	272,700	 	
UTI WORLDWIDE INC ORD	Common Stock	 	 	17,200	 	 	 	228,588	 	
VAALCO ENERGY COM STK	Common Stock	 	 	40,100	 	 	 	242,204	 	
VAIL RESORTS INC COM STK	Common Stock	 	 	11,400	 	 	 	482,904	 	
VCA ANTECH INC COM STK	Common Stock	 	 	30,700	 	 	 	606,325	 	
VILLAGE SUPER MARKET INC CLASS 'A' COM STK	Common Stock	 	 	11,200	 	 	 	318,640	 	
VIROPHARMA INC COM STK	Common Stock	 	 	15,000	 	 	 	410,850	 	
W & T OFFSHORE INC COM STK	Common Stock	 	 	4,800	 	 	 	101,808	 	
WADDELL & REED FINL INC CL A	Common Stock	 	 	26,600	 	 	 	658,882	 	
WASHINGTON BANKING CO COM STK	Common Stock	 	 	15,900	 	 	 	189,369	 	
WASHINGTON FEDERAL INC COM STK	Common Stock	 	 	23,800	 	 	 	332,962	 	
WEBSENSE INC COM STK	Common Stock	 	 	23,100	 	 	 	432,663	 	
WEBSTER FINANCIAL CORP COM STK	Common Stock	 	 	7,432	 	 	 	151,539	 	
WEIS MARKETS INC COM STK	Common Stock	 	 	16,300	 	 	 	651,022	 	
WERNER ENTERPRISES INC COM STK	Common Stock	 	 	7,900	 	 	 	190,390	 	
WESCO INTERNATIONAL INC COM STK	Common Stock	 	 	5,800	 	 	 	307,458	 	
WESTAR ENERGY INC COM STK	Common Stock	 	 	17,200	 	 	 	495,016	 	
WESTERN REFINING INC COM STK	Common Stock	 	 	27,800	 	 	 	369,462	 	
WGL HLDGS INC COM STK	Common Stock	 	 	10,500	 	 	 	464,310	 	
WILLIAMS-SONOMA INC COM STK	Common Stock	 	 	8,900	 	 	 	342,650	 	
WINTRUST FINANCIAL CORP COM STK	Common Stock	 	 	7,700	 	 	 	215,985	 	
WMS INDUSTRIES COM STK	Common Stock	 	 	19,700	 	 	 	404,244	 	
WOLVERINE WORLD WIDE INC COM STK	Common Stock	 	 	15,000	 	 	 	534,600	 	
YOUNG INNOVATIONS INC COM STK	Common Stock	 	 	43,700	 	 	 	1,294,831	 	
ZEBRA TECHNOLOGIES CLASS 'A' COM STK	Common Stock	 	 	6,200	 	 	 	221,836	 	
ZIONS BANCORP COM STK	Common Stock	 	 	33,000	 	 	 	537,240	 	
 	 	 	 	 	 	 	 	 	 	
Total Common Stock	 	 	 	 	 	 	$	104,778,820	 	
 	 	 	 	 	 	 	(Continued)	 	

 

18

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
Preferred Stock	 	 	 	 	 	 	 	
ASPEN INSURANCE	Preferred Stock	 	 	29,637	 	 	$	1,594,471	 	
CALLAWAY GOLF CO	Preferred Stock	 	 	2,800	 	 	 	267,355	 	
DUPONT FABROS TECHNOLOGY	Preferred Stock	 	 	8,600	 	 	 	215,946	 	
ENTERTAINMENT PROPERTY TRUST CUM CNV PRE	Preferred Stock	 	 	9,000	 	 	 	240,570	 	
INLAND REAL ESTATE CORP	Preferred Stock	 	 	6,728	 	 	 	168,200	 	
LEXINGTON REALITY TRUST	Preferred Stock	 	 	4,400	 	 	 	184,756	 	
LODGENET INTERACTIVE CORP	Preferred Stock	 	 	185	 	 	 	159,562	 	
NATIONAL RETAIL PROPERTIES INC	Preferred Stock	 	 	17,100	 	 	 	434,340	 	
PS BUSINESS PARKS INC CALIF DEP SHS REP	Preferred Stock	 	 	6,900	 	 	 	173,742	 	
UNIVERSAL CORP	Preferred Stock	 	 	330	 	 	 	363,000	 	
Total Preferred Stock	 	 	 	 	 	 	$	3,801,942	 	
 	 	 	 	 	 	 	 	 	 	
REIT	 	 	 	 	 	 	 	 	 	
AMERICAN CAMPUS COMMUNITIES INC COM STK	REIT	 	 	7,900	 	 	$	331,484	 	
ASSOCIATED ESTATES REALTY CORP COM	REIT	 	 	11,400	 	 	 	181,830	 	
BIOMED REALTY TRUST INC COM STK	REIT	 	 	23,500	 	 	 	424,880	 	
CBL & ASSOCIATES PROPERTIES INC COM STK	REIT	 	 	30,600	 	 	 	480,420	 	
CHIMERA INVESTMENT CORPORATION COM STK	REIT	 	 	155,600	 	 	 	390,556	 	
COMMONWEALTH REIT SHS OF BNF INT	REIT	 	 	18,100	 	 	 	301,184	 	
CREXUS INVESTMENT CORP	REIT	 	 	18,100	 	 	 	187,878	 	
DCT INDUSTRIAL TRUST INC COM STK	REIT	 	 	22,100	 	 	 	113,152	 	
DIAMONDROCK HOSPIT COM	REIT	 	 	25,600	 	 	 	246,784	 	
EQUITY LIFESTYLE PROPERTIES INC COM STK	REIT	 	 	3,300	 	 	 	220,077	 	
FIRST POTOMAC REALTY TRUST SBI	REIT	 	 	14,400	 	 	 	187,920	 	
GOVERNMENT PROPERTIES INCOME	REIT	 	 	11,200	 	 	 	252,560	 	
HATTERAS FINANCIAL CORP	REIT	 	 	6,300	 	 	 	166,131	 	
HEALTHCARE REALTY TRUST INC COM STK	REIT	 	 	8,600	 	 	 	159,874	 	
HERSHA HOSPITALITY TRUST CLASS 'A' SHS BEN	REIT	 	 	41,200	 	 	 	201,056	 	
HIGHWOODS PROPERTIES INC COM STK	REIT	 	 	6,200	 	 	 	183,954	 	
KILROY REALTY CORP COM STK	REIT	 	 	6,500	 	 	 	247,455	 	
LASALLE HOTEL PROPERTIES COM STK	REIT	 	 	11,900	 	 	 	288,099	 	
LEXINGTON REALTY TRUST COM STK	REIT	 	 	32,200	 	 	 	241,178	 	
MACK CALI REALTY CORP COM STK	REIT	 	 	11,500	 	 	 	306,935	 	
MEDICAL PROPERTIES TRUST INC COM STK	REIT	 	 	14,900	 	 	 	147,063	 	
MFA FINANCIAL INC COM STK	REIT	 	 	44,900	 	 	 	301,728	 	
NATIONAL RETAIL PROPERTIES INC COM	REIT	 	 	11,800	 	 	 	311,284	 	
PS BUSINESS PARKS INC CALIF COM SER'A '	REIT	 	 	6,600	 	 	 	365,838	 	
RLJ LODGING TRUST	REIT	 	 	28,400	 	 	 	477,972	 	
SABRA HEALTH CARE REIT INC	REIT	 	 	27,400	 	 	 	331,270	 	
URSTADT BIDDLE PROPERTIES CLASS'A' COM	REIT	 	 	13,700	 	 	 	247,696	 	
WASHINGTON REAL ESTATE INVEST TRUST SHS	REIT	 	 	9,000	 	 	 	246,150	 	
Total REIT	 	 	 	 	 	 	$	7,542,408	 	

 	 	 	 	 	 	 	(Continued)	 	

 
19

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
AMERICAN CENTURY SMALL CAP VALUE FUND (Con't)	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
Cash Equivalents	 	 	 	 	 	 	 	
Short-Term Investment Fund	 	 	 	 	 	 	 	
* J.P. Morgan U.S. Government Short-Term Investment Fund	Money Market	 	 	3,287,630	 	 	$	3,287,630	 	
Total Cash Equivalents	 	 	 	 	 	 	$	3,287,630	 	
 	 	 	 	 	 	 	 	 	 	
Investment Companies	 	 	 	 	 	 	 	 	 	
Mutual Funds	 	 	 	 	 	 	 	 	 	
ISHARES TRUST RUSSELL 2000 INDEX FUND	Mutual Funds	 	 	21,752	 	 	$	1,602,905	 	
ISHARES TRUST S&P SMALLCAP 600 INDEX FUND	Mutual Funds	 	 	11,000	 	 	 	751,080	 	
Total Investment Companies	 	 	 	 	 	 	$	2,353,985	 	
 	 	 	 	 	 	 	 	 	 	
Limited Partnership	 	 	 	 	 	 	 	 	 	
COMPASS DIVERSIFIED HLDGS SHS OF BENEFIC	Limited Partnership	 	 	21,500	 	 	$	266,385	 	
SANDRIDGE PERMIAN TR COM UNI BEN INT	Limited Partnership	 	 	13,100	 	 	 	298,025	 	
Total Limited Partnership	 	 	 	 	 	 	$	564,410	 	

TOTAL AMERICAN CENTURY SMALL CAP VALUE FUND	 	 	 	 	 	 	$	122,329,195	 	

ARTIO INTERNATIONAL EQUITY - INSTITUTIONAL FUND	Mutual Fund	 	 	8,757,689	 	 	$	198,098,924	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

20

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	 	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	 	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
 	 	Rate of	 	Maturity	 	Par	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	 	Interest	 	Date	 	Value	 	 	Value	 	
 	 	 	 	 	 	 	 	 	 	 	
SEIX INTERMEDIATE BOND FUND	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
Government Bonds	 	 	 	 	 	 	 	 	 	 	
UNITED STATES OF AMER TREAS BONDS	 	 	0.88	%	2/29/2012	 	$	22,286,337	 	 	$	22,285,556	 	
UNITED STATES TREAS NOTES	 	 	0.50	%	10/15/2014	 	 	45,817,920	 	 	 	45,913,343	 	
UNITED STATES TREAS NOTES	 	 	1.25	%	10/31/2015	 	 	25,564,324	 	 	 	26,623,174	 	
UNITED STATES TREAS NOTES	 	 	1.75	%	5/31/2016	 	 	21,948,934	 	 	 	22,561,042	 	
UNITED STATES TREAS NOTES	 	 	2.00	%	11/15/2021	 	 	13,135,771	 	 	 	13,290,886	 	
UNITED STATES TREAS NOTES	 	 	3.38	%	11/15/2019	 	 	11,784,382	 	 	 	12,918,736	 	
Total Government Bonds	 	 	 	 	 	 	 	 	 	 	$	143,592,737	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Mortgage-Backed Security Bonds	 	 	 	 	 	 	 	 	 	 	 	 	 	
GNMA I MORTPASS	 	 	6.00	%	11/15/2038	 	$	978,059	 	 	$	1,087,711	 	
GNMA II MORTPASS	 	 	4.74	%	1/20/2061	 	 	2,335,712	 	 	 	2,467,581	 	
FHLMC MORTPASS ARM	 	FLOATING	 	7/1/2041	 	 	993,752	 	 	 	1,009,957	 	
FHLMC MORTPASS ARM	 	FLOATING	 	6/1/2041	 	 	461,027	 	 	 	465,920	 	
FHLMC MORTPASS ARM	 	FLOATING	 	5/1/2041	 	 	637,283	 	 	 	644,607	 	
TBA FHLMC SF	 	 	3.00	%	3/15/2027	 	 	2,252,078	 	 	 	2,256,718	 	
FEDERAL HOME LOAN BANKS	 	 	5.00	%	2/1/2034	 	 	1,840,101	 	 	 	1,828,412	 	
FEDERAL HOME LOAN MORTGAGE CORP	 	 	5.00	%	1/1/2037	 	 	1,194,091	 	 	 	1,189,936	 	
FEDERAL HOME LOAN MORTGAGE CORP	 	 	5.00	%	4/1/2036	 	 	370,115	 	 	 	371,978	 	
FHLMCGLD MORTPASS	 	 	4.00	%	8/1/2026	 	 	708,373	 	 	 	703,970	 	
FHLMCGLD MORTPASS	 	 	4.00	%	3/1/2026	 	 	2,010,503	 	 	 	1,996,628	 	
FHLMCGLD MORTPASS	 	 	5.50	%	4/1/2038	 	 	2,722,425	 	 	 	2,784,610	 	
FHLMCGLD MORTPASS	 	 	5.50	%	12/1/2034	 	 	536,646	 	 	 	543,357	 	
FHLMCGLD MORTPASS	 	 	5.50	%	7/1/2037	 	 	580,790	 	 	 	586,253	 	
FHLMCGLD MORTPASS	 	 	5.50	%	5/1/2036	 	 	363,571	 	 	 	364,783	 	
FHLMCGLD MORTPASS	 	 	5.00	%	8/1/2033	 	 	765,675	 	 	 	770,467	 	
FHLMCGLD MORTPASS	 	 	5.00	%	7/1/2035	 	 	475,981	 	 	 	477,544	 	
FHLMC GOLD TBA	 	 	3.00	%	1/15/2027	 	 	11,388,769	 	 	 	11,514,057	 	
TBA FHLMC GOLD	 	 	3.00	%	2/15/2027	 	 	4,920,034	 	 	 	4,938,473	 	
FEDERAL NATIONAL MORTGAGE ASSOCIATION PO	 	 	5.50	%	11/1/2035	 	 	540,720	 	 	 	545,030	 	
FEDERAL NATL MTG ASSN GTD MTG	 	 	5.50	%	12/1/2035	 	 	905,612	 	 	 	906,280	 	
FNMA MORTPASS	 	 	2.69	%	10/1/2018	 	 	581,062	 	 	 	579,609	 	
FNMA MORTPASS	 	 	3.50	%	8/1/2032	 	 	165,368	 	 	 	166,890	 	
FNMA MORTPASS	 	 	3.90	%	9/1/2021	 	 	5,045,405	 	 	 	5,401,160	 	
FNMA MORTPASS	 	 	3.91	%	9/1/2021	 	 	0	 	 	 	0	 	
FNMA MORTPASS	 	 	5.50	%	8/1/2037	 	 	273,131	 	 	 	273,141	 	
FNMA MORTPASS	 	 	5.50	%	12/1/2035	 	 	1,422,133	 	 	 	1,451,799	 	
FNMA MORTPASS	 	 	5.50	%	1/1/2036	 	 	747,919	 	 	 	752,327	 	
FNMA MORTPASS	 	 	5.50	%	3/1/2034	 	 	1,035,966	 	 	 	1,041,179	 	
FNMA MORTPASS	 	 	5.50	%	5/1/2035	 	 	480,462	 	 	 	480,181	 	
FNMA MORTPASS	 	 	5.50	%	5/1/2037	 	 	490,638	 	 	 	501,873	 	
FNMA MORTPASS	 	 	5.00	%	8/1/2033	 	 	430,376	 	 	 	438,810	 	
FNMA MORTPASS	 	 	5.00	%	10/1/2035	 	 	519,928	 	 	 	529,681	 	
FNMA MORTPASS	 	 	6.00	%	4/1/2036	 	 	1,079,803	 	 	 	1,086,411	 	
FNMA MORTPASS	 	 	6.00	%	4/1/2039	 	 	1,179,183	 	 	 	1,198,113	 	
FNMA MORTPASS	 	 	6.00	%	7/1/2036	 	 	540,350	 	 	 	544,752	 	
FNMA MORTPASS	 	 	6.00	%	7/1/2039	 	 	541,593	 	 	 	542,979	 	
FNMA MORTPASS	 	 	6.00	%	9/1/2035	 	 	549,054	 	 	 	551,879	 	
FNMS	 	 	5.00	%	7/1/2033	 	 	217,125	 	 	 	217,873	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	(Continued)	 	

 

21

 

AUTOMATIC DATA PROCESSING, INC.	 	 	 	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	 	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
 	 	Rate of	 	Maturity	 	Par	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	 	Interest	 	Date	 	Value	 	 	Value	 	
 	 	 	 	 	 	 	 	 	 	 	
SEIX INTERMEDIATE BOND FUND (Con't)	 	 	 	 	 	 	 	 	 	 	
Mortgage-Backed Security Bonds (Cont't)	 	 	 	 	 	 	 	 	 	 	
TBA FNMA CONV	 	 	2.50	%	3/25/2027	 	$	500,781	 	 	$	500,156	 	
TBA FNMA	 	 	3.00	%	1/25/2027	 	 	554,585	 	 	 	557,634	 	
Total Mortgage-Backed Security Bonds	 	 	 	 	 	 	 	 	 	 	$	54,270,719	 	

Corporate Bonds	 	 	 	 	 	 	 	 	 	 	 	 	 	
HSBC BANK PLC	 	 	3.50	%	6/28/2015	 	$	380,782	 	 	$	384,076	 	
HSBC BK PLC	 	 	3.10	%	5/24/2016	 	 	230,926	 	 	 	231,014	 	
ROCHE HLDGS INC	 	 	6.00	%	3/1/2019	 	 	2,063,427	 	 	 	2,463,642	 	
SCHLUMBERGER SA	 	 	3.30	%	9/14/2021	 	 	423,678	 	 	 	436,618	 	
ABBOTT LABS	 	 	5.60	%	11/30/2017	 	 	1,510,100	 	 	 	1,831,831	 	
ALABAMA POWER CO.	 	 	5.80	%	11/15/2013	 	 	431,767	 	 	 	470,604	 	
ANALOG DEVICES INC	 	 	3.00	%	4/15/2016	 	 	106,569	 	 	 	112,772	 	
AT & T INC	 	 	3.88	%	8/15/2021	 	 	380,916	 	 	 	404,061	 	
AT&T INC	 	 	5.10	%	9/15/2014	 	 	2,472,832	 	 	 	2,803,175	 	
BECTON DICKINSON & CO	 	 	3.25	%	11/12/2020	 	 	2,097,746	 	 	 	2,134,394	 	
BERKSHIRE HATHAWAY FINANCE CORP	 	 	4.60	%	5/15/2013	 	 	553,463	 	 	 	579,565	 	
BERKSHIRE HATHAWAY INC	 	 	3.20	%	2/11/2015	 	 	706,636	 	 	 	749,535	 	
BHP BILLITON FI US	 	 	1.13	%	11/21/2014	 	 	379,703	 	 	 	381,894	 	
BOEING CO	 	 	4.88	%	2/15/2020	 	 	2,101,338	 	 	 	2,167,025	 	
BOEING CO	 	 	5.125	%	2/15/2013	 	 	856,207	 	 	 	897,447	 	
BP CAPITAL MARKETS	 	 	2.248	%	11/1/2016	 	 	485,000	 	 	 	488,093	 	
CISCO SYSTEMS INC	 	 	5.500	%	2/22/2016	 	 	1,353,491	 	 	 	1,580,345	 	
CME GROUP INC	 	 	5.400	%	8/1/2013	 	 	591,252	 	 	 	632,986	 	
CME GROUP INC	 	 	5.750	%	2/15/2014	 	 	582,737	 	 	 	630,029	 	
DANAHER CORP	 	 	3.900	%	6/23/2021	 	 	273,385	 	 	 	298,079	 	
DIAGEO	 	 	5.200	%	1/30/2013	 	 	398,042	 	 	 	419,927	 	
DU PONT (E.I.) DE NEMOURS & CO	 	 	4.250	%	4/1/2021	 	 	273,467	 	 	 	309,646	 	
DUKE ENERGY CAROLINAS LLC	 	 	4.300	%	6/15/2020	 	 	192,341	 	 	 	209,494	 	
DUPONT INSTRUMENTS CORP	 	 	5.000	%	7/15/2013	 	 	756,846	 	 	 	802,054	 	
GENERAL ELECTRIC CO	 	 	5.000	%	2/1/2013	 	 	7,547,991	 	 	 	7,896,996	 	
GENERAL ELECTRIC CO	 	 	5.250	%	12/6/2017	 	 	542,891	 	 	 	658,815	 	
GEORGIA POWER CO	 	 	6.000	%	11/1/2013	 	 	211,950	 	 	 	231,520	 	
GLAXO SMITHKLINE CAPITAL INC	 	 	5.650	%	5/15/2018	 	 	739,867	 	 	 	942,424	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	(Continued)	 	

 

22

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	 	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	 	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
 	 	Rate of	 	Maturity	 	Par	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	 	Interest	 	Date	 	Value	 	 	Value	 	
 	 	 	 	 	 	 	 	 	 	 	
SEIX INTERMEDIATE BOND FUND (Con't)	 	 	 	 	 	 	 	 	 	 	
Corporate Bonds (Con't)	 	 	 	 	 	 	 	 	 	 	
ILLINOIS TOOL WORKS INC	 	 	6.250	%	4/1/2019	 	$	715,412	 	 	$	865,062	 	
INTEL CORP	 	 	1.950	%	10/1/2016	 	 	298,570	 	 	 	307,377	 	
INTERNATIONAL BUS MACH CORP	 	 	0.875	%	10/31/2014	 	 	977,969	 	 	 	979,352	 	
INTERNATIONAL BUS MACH CORP	 	 	7.625	%	10/15/2018	 	 	1,908,515	 	 	 	2,447,733	 	
JOHN DEERE CAPITAL CORP	 	 	1.250	%	12/2/2014	 	 	366,540	 	 	 	370,978	 	
*JPMORGAN CHASE & CO	 	 	4.400	%	7/22/2020	 	 	615,295	 	 	 	631,111	 	
*JPMORGAN CHASE & CO	 	 	6.300	%	4/23/2019	 	 	78,811	 	 	 	81,550	 	
MASSMUTUAL GLOBAL FUNDIN	 	 	2.300	%	9/28/2015	 	 	315,857	 	 	 	317,257	 	
NOVARTIS SECURITIES INVESTMENT LTD	 	 	5.125	%	2/10/2019	 	 	406,181	 	 	 	471,276	 	
ORACLE CORP	 	 	5.750	%	4/15/2018	 	 	1,669,091	 	 	 	1,996,183	 	
PACCAR FINL CORP	 	 	1.550	%	9/29/2014	 	 	574,417	 	 	 	581,765	 	
PRAXAIR INC	 	 	1.750	%	11/15/2012	 	 	914,233	 	 	 	922,804	 	
PRAXAIR INC	 	 	4.625	%	3/30/2015	 	 	937,375	 	 	 	1,056,365	 	
PROGRESSIVE CP (OH)	 	 	3.750	%	8/23/2021	 	 	121,874	 	 	 	126,772	 	
RAYTHEON CO	 	 	1.400	%	12/15/2014	 	 	435,487	 	 	 	438,112	 	
SANOFI	 	 	4.000	%	3/29/2021	 	 	638,908	 	 	 	714,620	 	
SOUTHERN CALIF EDISON CO	 	 	5.750	%	3/15/2014	 	 	711,807	 	 	 	779,883	 	
STRYKER CORP	 	 	2.000	%	9/30/2016	 	 	268,529	 	 	 	275,276	 	
TEVA PHARMACEUTICAL FINANCE II	 	 	3.000	%	6/15/2015	 	 	304,954	 	 	 	316,574	 	
THERMO FISHER SCIENTIFIC INC	 	 	2.250	%	8/15/2016	 	 	167,731	 	 	 	171,271	 	
TOTAL CAPITAL SA	 	 	3.000	%	6/24/2015	 	 	266,460	 	 	 	281,136	 	
TOYOTA MOTOR CREDIT CORP	 	 	3.200	%	6/17/2015	 	 	269,278	 	 	 	281,887	 	
TRANSCANADA PIPELINES	 	 	3.800	%	10/1/2020	 	 	519,800	 	 	 	540,683	 	
UNITED PARCEL SERVICE INC	 	 	3.125	%	1/15/2021	 	 	269,389	 	 	 	287,476	 	
UNITED TECHNOLOGIES CORP	 	 	6.125	%	2/1/2019	 	 	1,096,295	 	 	 	1,318,474	 	
VERIZON WIRELESS CAPITAL/CELLCO PTN	 	 	5.550	%	2/1/2014	 	 	404,919	 	 	 	435,671	 	
WAL-MART STORES INC	 	 	1.625	%	4/15/2014	 	 	1,413,096	 	 	 	1,447,134	 	
WAL-MART STORES INC	 	 	4.250	%	4/15/2021	 	 	2,087,316	 	 	 	2,426,537	 	
WALGREEN CO.	 	 	4.875	%	8/1/2013	 	 	563,473	 	 	 	599,594	 	
3M CO	 	 	1.375	%	9/29/2016	 	 	253,953	 	 	 	258,197	 	
Total Corporate Bonds	 	 	 	 	 	 	 	 	 	 	$	52,876,171	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	(Continued)	 	

 

23

 

AUTOMATIC DATA PROCESSING, INC.	 	 	 	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	 	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
 	 	Rate of	 	Maturity	 	Par	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	 	Interest	 	Date	 	Value	 	 	Value	 	
 	 	 	 	 	 	 	 	 	 	 	
SEIX INTERMEDIATE BOND FUND (Con't)	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	
CMO/REMIC	 	 	 	 	 	 	 	 	 	 	
BANC OF AMERICA COMMERCIAL MORTGAGE INC	 	FLOATING	 	9/10/2047	 	$	990,982	 	 	$	1,065,878	 	
FANNIE MAE	 	FLOATING	 	3/25/2031	 	 	366,475	 	 	 	366,537	 	
FANNIE MAE	 	FLOATING	 	12/25/2030	 	 	1,040,546	 	 	 	1,044,628	 	
FREDDIE MAC	 	 	5.000	%	3/15/2035	 	 	796,897	 	 	 	908,957	 	
FANNIE MAE	 	 	3.000	%	3/25/2021	 	 	987,983	 	 	 	1,056,518	 	
FREDDIE MAC	 	 	4.000	%	12/15/2025	 	 	1,885,819	 	 	 	2,115,664	 	
FREDDIE MAC	 	 	3.000	%	2/15/2026	 	 	1,503,718	 	 	 	1,532,366	 	
Total CMO/REMIC	 	 	 	 	 	 	 	 	 	 	$	8,090,548	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Commercial Mortgage-Backed Bonds	 	 	 	 	 	 	 	 	 	 	 	 	 	
AMERICOLD REALTY TRUST	 	 	4.954	%	1/14/2029	 	 	516,001	 	 	$	547,685	 	
CITIGROUP COMMERCIAL MORTGAGE TRUST 2004	 	 	4.380	%	10/15/2041	 	 	450,045	 	 	 	441,218	 	
LBS-UBS COMMERCIAL MORTGAGE TRUS VARIAB	 	FLOATING	 	11/15/2030	 	 	199,467	 	 	 	223,054	 	
RBSCF TRUST 2010-RR3	 	 	4.970	%	4/14/2040	 	 	1,056,014	 	 	 	1,046,362	 	
Total Commercial Mortgage-Backed Bonds	 	 	 	 	 	 	 	 	 	 	$	2,258,319	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Short-Term Investment Fund	 	 	 	 	 	 	 	 	 	 	 	 	 	
* J.P. Morgan U.S. Government Short-Term Investment Fund	 	Variable	 	12/31/2049	 	 	33,720,005	 	 	$	33,720,005	 	
Total Short-Term Investment Fund	 	 	 	 	 	 	 	 	 	 	$	33,720,005	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
TOTAL SEIX INTERMEDIATE BOND FUND	 	 	 	 	 	 	 	 	 	 	$	294,808,499	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	(Continued)	 	

 

24

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
MONTAG & CALDWELL LARGE CAP GROWTH FUND	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
Common Stock	 	 	 	 	 	 	 	
ABBOTT LABS COM	Common Stock	 	 	123,800	 	 	$	6,961,274	 	
ACCENTURE PLC CLS 'A'	Common Stock	 	 	66,400	 	 	 	3,534,472	 	
ALLERGAN INC COM STK	Common Stock	 	 	65,400	 	 	 	5,738,196	 	
AMERISOURCEBERGEN CORP COM STK	Common Stock	 	 	61,100	 	 	 	2,272,309	 	
APPLE INC COM STK	Common Stock	 	 	14,640	 	 	 	5,929,200	 	
BED BATH AND BEYOND COM STK	Common Stock	 	 	63,800	 	 	 	3,698,486	 	
CAMERON INTERNATIONAL CORP COM STK	Common Stock	 	 	51,600	 	 	 	2,538,204	 	
CISCO SYSTEMS INC COM STK	Common Stock	 	 	152,800	 	 	 	2,762,624	 	
COCA-COLA CO COM STK	Common Stock	 	 	101,800	 	 	 	7,122,946	 	
COLGATE-PALMOLIVE CO COM STK	Common Stock	 	 	48,600	 	 	 	4,490,154	 	
COSTCO WHOLESALE CORP COM STK	Common Stock	 	 	40,800	 	 	 	3,399,456	 	
EMERSON ELECTRIC CO COM STK	Common Stock	 	 	44,300	 	 	 	2,063,937	 	
FLUOR CORP (NEW) COM STK	Common Stock	 	 	38,400	 	 	 	1,929,600	 	
GENERAL ELECTRIC CO COM STK	Common Stock	 	 	133,300	 	 	 	2,387,403	 	
GOOGLE INC COM STK	Common Stock	 	 	10,705	 	 	 	6,914,359	 	
HALLIBURTON CO COM STK	Common Stock	 	 	63,300	 	 	 	2,184,483	 	
KRAFT FOODS INC COM STK	Common Stock	 	 	174,600	 	 	 	6,523,056	 	
MCDONALD'S CORP COM	Common Stock	 	 	61,200	 	 	 	6,140,196	 	
MEDCO HEALTH SOLUTIONS INC COM STK	Common Stock	 	 	65,700	 	 	 	3,672,630	 	
MONSANTO CO COM STK	Common Stock	 	 	50,400	 	 	 	3,531,528	 	
NIKE INC CLASS 'B' COM STK NPV	Common Stock	 	 	41,300	 	 	 	3,980,081	 	
NORTEL NETWORKS CORP COM	Common Stock	 	 	2	 	 	 	0	 	
OCCIDENTAL PETROLEUM CORP COM	Common Stock	 	 	46,000	 	 	 	4,310,200	 	
OMNICOM GROUP INC COM STK	Common Stock	 	 	68,400	 	 	 	3,049,272	 	
ORACLE CORP COM STK	Common Stock	 	 	84,400	 	 	 	2,164,860	 	
PEPSICO INC CAP STK	Common Stock	 	 	86,000	 	 	 	5,706,100	 	
PROCTER & GAMBLE CO COM STK	Common Stock	 	 	105,105	 	 	 	7,011,555	 	
QUALCOMM INC COM STK	Common Stock	 	 	104,700	 	 	 	5,727,090	 	
SCHLUMBERGER COM STK	Common Stock	 	 	36,000	 	 	 	2,459,160	 	
STRYKER CORP COM STK	Common Stock	 	 	118,300	 	 	 	5,880,693	 	
TJX COS INC COM STK	Common Stock	 	 	69,400	 	 	 	4,479,770	 	
UNILEVER NV	Common Stock	 	 	55,200	 	 	 	1,897,224	 	
UNITED PARCEL SERVICE INC CLASS 'B' COM ST	Common Stock	 	 	55,300	 	 	 	4,047,407	 	
VISA INC	Common Stock	 	 	42,400	 	 	 	4,304,872	 	
Total Common Stock	 	 	 	 	 	 	$	138,812,797	 	
 	 	 	 	 	 	 	 	 	 	
Short-Term Investment Fund	 	 	 	 	 	 	 	 	 	
* J.P. Morgan U.S. Government Short-Term Investment Fund	Money Market	 	 	10,448,236	 	 	$	10,448,236	 	
Total Short-Term Investment Fund	 	 	 	 	 	 	$	10,448,236	 	
 	 	 	 	 	 	 	 	 	 	
TOTAL MONTAG & CALDWELL LARGE CAP GROWTH FUND	 	 	 	 	 	 	$	149,261,033	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

25

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
COLUMBIA DIVIDEND VALUE FUND	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
Common Stock	 	 	 	 	 	 	 	
ABBOTT LABS COM	Common Stock	 	 	68,000	 	 	$	3,823,640	 	
ACCENTURE PLC CLS 'A'	Common Stock	 	 	44,000	 	 	 	2,342,120	 	
ALTRIA GROUP INC COM STK	Common Stock	 	 	80,800	 	 	 	2,395,720	 	
AMERICAN ELECTRIC POWER CO INC COM STK	Common Stock	 	 	32,000	 	 	 	1,321,920	 	
AMERICAN EXPRESS CO COM	Common Stock	 	 	44,000	 	 	 	2,075,480	 	
AMGEN INC COM STK	Common Stock	 	 	25,275	 	 	 	1,622,908	 	
AT&T INC COM STK	Common Stock	 	 	200,000	 	 	 	6,048,000	 	
*AUTOMATIC DATA PROCESSING INC COM STOCK	Common Stock	 	 	36,000	 	 	 	1,944,360	 	
BLACKROCK INC CLASS 'A' COM STK	Common Stock	 	 	12,500	 	 	 	2,228,000	 	
BOEING CO COM STK	Common Stock	 	 	14,500	 	 	 	1,063,575	 	
BRISTOL-MYERS SQUIBB CO COM STK	Common Stock	 	 	145,000	 	 	 	5,109,800	 	
CHEVRON CORP COM STK	Common Stock	 	 	44,200	 	 	 	4,702,880	 	
CHUBB CORP COM STK	Common Stock	 	 	20,800	 	 	 	1,439,776	 	
CME GROUP INC COM STK	Common Stock	 	 	4,250	 	 	 	1,035,597	 	
COCA-COLA CO COM STK	Common Stock	 	 	28,200	 	 	 	1,973,154	 	
CONOCOPHILLIPS COM STK	Common Stock	 	 	24,800	 	 	 	1,807,176	 	
DEERE & CO COM STK	Common Stock	 	 	22,000	 	 	 	1,701,700	 	
DOVER CORP COM STK	Common Stock	 	 	27,600	 	 	 	1,602,180	 	
DU PONT (E.I.)DE NEMOURS & CO COM STK	Common Stock	 	 	26,030	 	 	 	1,191,653	 	
EMERSON ELECTRIC CO COM STK	Common Stock	 	 	26,000	 	 	 	1,211,340	 	
ENTERGY CORP COM STK	Common Stock	 	 	6,500	 	 	 	474,825	 	
EXXON MOBIL CORP COM STK NPV	Common Stock	 	 	72,000	 	 	 	6,102,720	 	
GALLAGHER (ARTHUR J.) & CO COM	Common Stock	 	 	45,000	 	 	 	1,504,800	 	
GENERAL ELECTRIC CO. COM STK	Common Stock	 	 	120,000	 	 	 	2,149,200	 	
GENERAL MILLS INC COM STK	Common Stock	 	 	36,853	 	 	 	1,489,230	 	
HEINZ (H.J.) CO COM STK	Common Stock	 	 	50,600	 	 	 	2,734,424	 	
HOME DEPOT INC COM STK	Common Stock	 	 	70,000	 	 	 	2,942,800	 	
HONEYWELL INTERNATIONAL INC COM STK	Common Stock	 	 	50,000	 	 	 	2,717,500	 	
ILLINOIS TOOL WORKS INC COM STK	Common Stock	 	 	18,000	 	 	 	840,780	 	
INTEL CORP COM STK	Common Stock	 	 	168,620	 	 	 	4,089,035	 	
INTERNATIONAL BUS MACH CORP COM STK	Common Stock	 	 	34,000	 	 	 	6,251,920	 	
INTERNATIONAL FLAVORS & FRAGRANCES COM	Common Stock	 	 	20,200	 	 	 	1,058,884	 	
JOHNSON & JOHNSON COM STK	Common Stock	 	 	56,000	 	 	 	3,672,480	 	
*JPMORGAN CHASE & CO COM STK	Common Stock	 	 	94,000	 	 	 	3,125,500	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

26

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	 	 	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
COLUMBIA DIVIDEND VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
KIMBERLY-CLARK CORP COM STK	Common Stock	 	 	30,000	 	 	$	2,206,800	 	
KINDER MORGAN INC DELAWARE	Common Stock	 	 	70,000	 	 	 	2,251,900	 	
LIMITED BRANDS INC COM STK	Common Stock	 	 	28,000	 	 	 	1,129,800	 	
LINEAR TECHNOLOGY CORP COM STK NPV	Common Stock	 	 	28,000	 	 	 	840,840	 	
MATTEL INC COM STK	Common Stock	 	 	44,000	 	 	 	1,221,440	 	
MCDONALD'S CORP COM STK	Common Stock	 	 	44,000	 	 	 	4,414,520	 	
MCGRAW-HILL COS INC (THE) COM STK	Common Stock	 	 	28,803	 	 	 	1,295,271	 	
MERCK & CO INC (NEW) COM STK	Common Stock	 	 	130,000	 	 	 	4,901,000	 	
MEREDITH CORP COM STK	Common Stock	 	 	38,000	 	 	 	1,240,700	 	
METLIFE INC COM STK	Common Stock	 	 	42,500	 	 	 	1,325,150	 	
MICROSOFT CORP COM STK	Common Stock	 	 	172,000	 	 	 	4,465,120	 	
NATIONAL FUEL GAS CO COM STK	Common Stock	 	 	22,000	 	 	 	1,222,760	 	
NEXTERA ENERGY INC	Common Stock	 	 	13,700	 	 	 	834,056	 	
NORDSTROM INC COM STK NPV	Common Stock	 	 	24,500	 	 	 	1,217,895	 	
NORFOLK SOUTHERN CORP COM STK	Common Stock	 	 	18,600	 	 	 	1,355,196	 	
NORTHERN TRUST CORP COM STK	Common Stock	 	 	32,000	 	 	 	1,269,120	 	
NUCOR CORP COM STK	Common Stock	 	 	34,000	 	 	 	1,345,380	 	
OCCIDENTAL PETROLEUM CORP COM	Common Stock	 	 	25,000	 	 	 	2,342,500	 	
PARKER-HANNIFIN CORP COM STK	Common Stock	 	 	18,500	 	 	 	1,410,625	 	
PENN WEST PETROLEUM LTD	Common Stock	 	 	38,000	 	 	 	752,400	 	
PEOPLES UNITED FINANCIAL INC COM	Common Stock	 	 	100,000	 	 	 	1,285,000	 	
PFIZER INC COM STK	Common Stock	 	 	250,000	 	 	 	5,410,000	 	
PG&E CORP COM STK NPV	Common Stock	 	 	22,000	 	 	 	906,840	 	
PHILIP MORRIS INTERNATIONAL INC NPV	Common Stock	 	 	82,000	 	 	 	6,435,360	 	
PNC FINANCIAL SERVICES GROUP COM STK	Common Stock	 	 	32,000	 	 	 	1,845,440	 	
PPL CORP COM STK	Common Stock	 	 	48,000	 	 	 	1,412,160	 	
PRICE T ROWE GROUP INC COM STK	Common Stock	 	 	20,000	 	 	 	1,139,000	 	
PROCTER & GAMBLE CO COM STK NPV	Common Stock	 	 	46,800	 	 	 	3,122,028	 	
PROGRESSIVE CORP (OHIO) COM STK	Common Stock	 	 	20,500	 	 	 	399,955	 	
PUBLIC SERVICE ENTERPRISE GROUP INC COM	Common Stock	 	 	40,000	 	 	 	1,320,400	 	
RAYTHEON CO COM STK	Common Stock	 	 	36,000	 	 	 	1,741,680	 	
RENAISSANCERE HLDGS COM STK	Common Stock	 	 	8,000	 	 	 	594,960	 	
RPM INTERNATIONAL INC COM STK	Common Stock	 	 	44,000	 	 	 	1,080,200	 	
SCHLUMBERGER COM STK	Common Stock	 	 	20,000	 	 	 	1,366,200	 	
SEMPRA ENERGY CORP COM STK	Common Stock	 	 	26,000	 	 	 	1,430,000	 	
SHERWIN-WILLIAMS CO COM STK	Common Stock	 	 	38,800	 	 	 	3,463,676	 	
SONOCO PRODUCTIS CO COM STK NPV	Common Stock	 	 	35,500	 	 	 	1,170,080	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 

27

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
COLUMBIA DIVIDEND VALUE FUND (Con't)	 	 	 	 	 	 	 	
Common Stock (Con't)	 	 	 	 	 	 	 	
TARGET CORP COM STK	Common Stock	 	 	38,500	 	 	$	1,971,970	 	
TEXAS INSTRUMENTS INC COM STK	Common Stock	 	 	44,800	 	 	 	1,304,128	 	
TIME WARNER INC	Common Stock	 	 	66,000	 	 	 	2,385,240	 	
TJX COS INC COM STK	Common Stock	 	 	18,800	 	 	 	1,213,540	 	
TRANSOCEAN LTD	Common Stock	 	 	26,000	 	 	 	998,140	 	
UNITED TECHNOLOGIES CORP COM STK	Common Stock	 	 	28,400	 	 	 	2,075,756	 	
UNUM GROUP COM	Common Stock	 	 	60,000	 	 	 	1,264,200	 	
US BANCORP DELAWARE COM STK	Common Stock	 	 	68,000	 	 	 	1,839,400	 	
VERIZON COMMUNICATIONS INC COM STK	Common Stock	 	 	156,000	 	 	 	6,258,720	 	
WAL-MART STORES INC COM STK	Common Stock	 	 	30,000	 	 	 	1,792,800	 	
WASTE MANAGEMENT INC COM STK	Common Stock	 	 	42,000	 	 	 	1,373,820	 	
WELLS FARGO & CO COM STK	Common Stock	 	 	60,000	 	 	 	1,653,600	 	
WINDSTREAM CORP COM STK	Common Stock	 	 	30,000	 	 	 	352,200	 	
APACHE CORP	Common Stock	 	 	4,290	 	 	 	232,861	 	
FIFTH THIRD BANCORP	Common Stock	 	 	7,875	 	 	 	1,118,880	 	
BHP BILLITON LIMITED ADR EACH REP 2 ORD	Common Stock	 	 	13,000	 	 	 	918,190	 	
CANON INC ADR (CNV INTO 1 ORD SHS NPV)	Common Stock	 	 	22,500	 	 	 	990,900	 	
DIAGEO ADR EACH REPR 4 ORD	Common Stock	 	 	26,454	 	 	 	2,312,609	 	
GLAXOSMITHKLINE ADR EACH REPR 2 ORD GBP0	Common Stock	 	 	44,400	 	 	 	2,025,972	 	
ROYAL DUTCH SHELL ADR EACH REPR 2 'A' SHS	Common Stock	 	 	61,315	 	 	 	4,481,514	 	
DIGITAL REALTY TRUST INC COM STK	Common Stock	 	 	20,000	 	 	 	1,333,400	 	
PUBLIC STORAGE COM STK	Common Stock	 	 	10,000	 	 	 	1,344,600	 	
Total Common Stock	 	 	 	 	 	 	$	196,202,969	 	
 	 	 	 	 	 	 	 	 	 	
Cash Equivalents	 	 	 	 	 	 	 	 	 	
Short-Term Investment Fund	 	 	 	 	 	 	 	 	 	
* J.P. Morgan U.S. Government Short-Term Investment Fund	Money Market	 	 	7,110,448	 	 	$	7,110,448	 	
Total Cash Equivalents	 	 	 	 	 	 	$	7,110,448	 	
 	 	 	 	 	 	 	 	 	 	
Investment Companies	 	 	 	 	 	 	 	 	 	
Mutual Funds	 	 	 	 	 	 	 	 	 	
SPIDER S&P 500 ETF TRUST	Mutual Funds	 	 	22,800	 	 	$	2,861,400	 	
Total Investment Companies	 	 	 	 	 	 	$	2,861,400	 	
 	 	 	 	 	 	 	 	 	 	
TOTAL COLUMBIA DIVIDEND VALUE FUND	 	 	 	 	 	 	$	206,174,817	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Continued)	 	

 
28 

 

 

AUTOMATIC DATA PROCESSING, INC.	 	 	Plan Number 002	 	 	 	 	
RETIREMENT AND SAVINGS PLAN	 	 	Plan Sponsor EIN 22-1467904	 	
 	 	 	 	 	 	 	 	
FORM 5500,  SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)	 	 	 	 	 	 	
AS OF DECEMBER 31, 2011	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	
 	Description	 	Number	 	 	Current	 	
Identity of Issuer, Borrower or Similar Party	of Investment	 	of Shares	 	 	Value	 	
 	 	 	 	 	 	 	 	
*Retirement Income	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT INCOME FUND	Commingled Trust	 	 	2,417,261	 	 	$	32,222,089	 	
 	 	 	 	 	 	 	 	 	 	
*Retirement 2010	 	 	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT 2010 FUND	Commingled Trust	 	 	2,234,968	 	 	$	30,484,964	 	
 	 	 	 	 	 	 	 	 	 	
*Retirement 2015	 	 	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT 2015 FUND	Commingled Trust	 	 	4,540,481	 	 	$	62,431,611	 	
 	 	 	 	 	 	 	 	 	 	
*Retirement 2020	 	 	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT 2020 FUND	Commingled Trust	 	 	10,171,219	 	 	$	140,973,090	 	
 	 	 	 	 	 	 	 	 	 	
*Retirement 2030	 	 	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT 2030 FUND	Commingled Trust	 	 	9,586,110	 	 	$	126,728,372	 	
 	 	 	 	 	 	 	 	 	 	
*Retirement 2040	 	 	 	 	 	 	 	 	 	
JPMORGAN SMARTRETIREMENT 2040 FUND	Commingled Trust	 	 	7,000,657	 	 	$	91,288,563	 	
 	 	 	 	 	 	 	 	 	 	
Growth Index Fund	 	 	 	 	 	 	 	 	 	
BLACKROCK RUSSELL 2000 GROWTH FUND	Commingled Trust	 	 	18,944,587	 	 	$	184,330,835	 	

S&P 500 Index Fund	 	 	 	 	 	 	 	 	 	
NORTHERN TRUST S&P  500 INDEX FUND	Commingled Trust	 	 	2,070,269	 	 	$	203,503,309	 	
 	 	 	 	 	 	 	 	 	 	
Money Market Fund	 	 	 	 	 	 	 	 	 	
GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND	Money Market	 	 	225,441,863	 	 	$	225,441,863	 	

Total Investment Funds	 	 	 	 	 	 	$	2,370,743,679	 	
 	 	 	 	 	 	 	 	 	 	
*Notes receivable from participants - original loan amounts	 	 	 	 	 	 	 	 	 	
ranging from $1,000 to $50,000 with interest rates	 	 	 	 	 	 	 	 	 	
ranging from 4.25% to 10.5% collateralized by	 	 	 	 	 	 	 	 	 	
the participant's vested interest in the account balance.	 	 	 	 	 	 	 	 	 	
The loan maturity dates range from 2012 to 2019	 	 	 	 	 	 	 	71,963,055	 	
 	 	 	 	 	 	 	 	 	 	
TOTAL INVESTMENTS	 	 	 	 	 	 	$	2,442,706,734	 	
 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	(Concluded)	 	
 
*Permitted party-in-interest
Cost information is not required for participant directed investments and is therefore not included.
 
See Report of Independent Registered Public Accounting Firm.

 

29

 

SIGNATURE

The Plan .  Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 AUTOMATIC DATA PROCESSING, INC.
RETIREMENT AND SAVINGS PLAN                                                                            
                 (Name of Plan)

Date:  June 25, 2012                                                              /s/  Michael A. Bonarti
 Michael A. Bonarti
 Trustee of the Plan
 Vice President, General Counsel and Secretary
 Automatic Data Processing, Inc.

 

30

 

 

 

 

 

 
Exhibit 23

Consent of Independent Registered Public Accounting Firm

 
We consent to the incorporation by reference in Registration Statements Nos. 333-110395, 333-75468, 333-90540 and 333-146565 of Automatic Data Processing, Inc. on Form S-8 of our report dated June 25, 2012, appearing in this Annual Report on Form 11-K of Automatic Data Processing, Inc. Retirement and Savings Plan for the year ended December 31, 2011.

/s/ J.H. Cohn LLP

Roseland, New Jersey
June 25, 2012

 

31