Document And Entity Information
v4.2.117.0
Document And Entity Information
 3 Months Ended
Sep. 30, 2011
Oct. 28, 2011
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2011
Entity Registrant Name AUTOMATIC DATA PROCESSING INC  
Entity Central Index Key 0000008670  
Current Fiscal Year End Date --06-30  
Document Fiscal Year Focus 2012  
Document Fiscal Period Focus Q1  
Entity Filer Category Large Accelerated Filer  
Entity Common Stock, Shares Outstanding   488,698,027

Statements Of Consolidated Earnings
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Statements Of Consolidated Earnings (USD $)
In Millions, except Per Share data
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
REVENUES:    
Revenues, other than interest on funds held for clients and PEO revenues $ 2,002.7 $ 1,763.7
Interest on funds held for clients 121.9 126.8
PEO revenues 397.9 [1] 338.9 [1]
TOTAL REVENUES 2,522.5 2,229.4
EXPENSES:    
Operating expenses 1,292.7 1,116.7
Systems development and programming costs 149.7 134.9
Depreciation and amortization 63.7 60.3
TOTAL COSTS OF REVENUES 1,506.1 1,311.9
Selling, general and administrative expenses 589.2 515.6
Interest expense 2.1 2.7
TOTAL EXPENSES 2,097.4 1,830.2
Other income, net (34.2) (37.2)
EARNINGS BEFORE INCOME TAXES 459.3 436.4
Provision for income taxes 156.6 157.9
NET EARNINGS $ 302.7 $ 278.5
BASIC EARNINGS PER SHARE $ 0.62 $ 0.57
DILUTED EARNINGS PER SHARE $ 0.61 $ 0.56
Basic weighted average shares outstanding 487.9 491.4
Diluted weighted average shares outstanding 493.3 494.9
Dividends declared per common share $ 0.3600 $ 0.3400
[1] Professional Employer Organization ("PEO") revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $3,935.3 and $3,351.3 for the three months ended September 30, 2011 and 2010, respectively.

Statements Of Consolidated Earnings (Parenthetical)
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Statements Of Consolidated Earnings (Parenthetical) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Statements Of Consolidated Earnings [Abstract]    
Direct pass-through costs, PEO revenues $ 3,935.3 $ 3,351.3

Consolidated Balance Sheets
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Consolidated Balance Sheets (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Assets    
Cash and cash equivalents $ 1,248.9 $ 1,389.4
Short-term marketable securities 19.1 36.3
Accounts receivable, net 1,236.9 1,364.8
Other current assets 667.9 648.3
Assets held for sale 9.1 9.1
Total current assets before funds held for clients 3,181.9 3,447.9
Funds held for clients 19,272.1 25,135.6
Total current assets 22,454.0 28,583.5
Long-term marketable securities 99.7 98.0
Long-term receivables, net 124.8 128.7
Property, plant and equipment, net 708.3 716.2
Other assets 949.2 922.6
Goodwill 2,997.5 3,073.6
Intangible assets, net 686.7 715.7
Total assets 28,020.2 34,238.3
Liabilities and Stockholders' Equity    
Accounts payable 123.0 153.3
Accrued expenses and other current liabilities 869.9 930.4
Accrued payroll and payroll-related expenses 384.4 558.3
Dividends payable 172.3 174.2
Short-term deferred revenues 325.5 350.9
Income taxes payable 84.1 28.6
Total current liabilities before client funds obligations 1,959.2 2,195.7
Client funds obligations 18,552.6 24,591.1
Total current liabilities 20,511.8 26,786.8
Long-term debt 26.0 34.2
Other liabilities 582.1 556.2
Deferred income taxes 415.4 373.5
Long-term deferred revenues 465.7 477.2
Total liabilities 22,001.0 28,227.9
Stockholders' equity:    
Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none    
Common stock, $0.10 par value: Authorized, 1,000.0 shares; issued 638.7 shares at September 30, 2011 and June 30, 2011; outstanding, 488.2 and 490.8 shares at September 30, 2011 and June 30, 2011, respectively 63.9 63.9
Capital in excess of par value 466.7 489.5
Retained earnings 11,930.7 11,803.9
Treasury stock - at cost: 150.5 and 147.9 shares at September 30, 2011 and June 30, 2011, respectively (6,848.6) (6,714.0)
Accumulated other comprehensive income 406.5 367.1
Total stockholders' equity 6,019.2 6,010.4
Total liabilities and stockholders' equity $ 28,020.2 $ 34,238.3

Consolidated Balance Sheets (Parenthetical)
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Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions, except Per Share data
Sep. 30, 2011
Jun. 30, 2011
Consolidated Balance Sheets [Abstract]    
Preferred stock, par value $ 1.00 $ 1.00
Preferred stock, shares authorized 0.3 0.3
Preferred stock, shares issued 0 0
Common stock, par value $ 0.10 $ 0.10
Common stock, shares authorized 1,000.0 1,000.0
Common stock, shares issued 638.7 638.7
Common stock, shares outstanding 488.2 490.8
Treasury stock, shares 150.5 147.9

Statements Of Consolidated Cash Flows
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Statements Of Consolidated Cash Flows (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities:    
Net earnings $ 302.7 $ 278.5
Adjustments to reconcile net earnings to cash flows provided by operating activities:    
Depreciation and amortization 79.7 75.5
Deferred income taxes 9.7 7.6
Stock-based compensation expense 18.6 13.9
Net pension expense 9.2 10.1
Net realized gain from the sales of marketable securities (4.0) (11.8)
Net amortization of premiums and accretion of discounts on available-for-sale securities 12.8 13.0
Impairment losses on assets held for sale   8.6
Gains on sales of buildings   (1.8)
Other 4.3 12.8
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses:    
Decrease in accounts receivable 106.3 27.4
Increase in other assets (117.7) (106.3)
Decrease in accounts payable (26.5) (36.6)
Decrease in accrued expenses and other liabilities (78.8) (68.6)
Net cash flows provided by operating activities 316.3 222.3
Cash Flows from Investing Activities:    
Purchases of corporate and client funds marketable securities (1,095.1) (1,085.3)
Proceeds from the sales and maturities of corporate and client funds marketable securities 844.3 826.9
Net decrease (increase) in restricted cash and cash equivalents held to satisfy client fund obligations 6,192.2 (3,380.4)
Capital expenditures (33.4) (38.6)
Additions to intangibles (24.0) (19.4)
Acquisitions of businesses, net of cash acquired (1.9) (475.3)
Proceeds from the sale of property, plant and equipment   13.0
Other   3.4
Net cash flows provided by (used in) investing activities 5,882.1 (4,155.7)
Cash Flows from Financing Activities:    
Net (decrease) increase in client funds obligations (5,936.9) 3,639.1
Payments of debt (0.5) (4.3)
Repurchases of common stock (249.2) (49.8)
Proceeds from stock purchase plan and exercises of stock options 48.9 21.8
Dividends paid (177.7) (168.0)
Net cash flows (used in) provided by financing activities (6,315.4) 3,438.8
Effect of exchange rate changes on cash and cash equivalents (23.5) 28.0
Net change in cash and cash equivalents (140.5) (466.6)
Cash and cash equivalents, beginning of period 1,389.4 1,643.3
Cash and cash equivalents, end of period $ 1,248.9 $ 1,176.7

Basis Of Presentation
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Basis Of Presentation
 3 Months Ended
Sep. 30, 2011
Basis Of Presentation [Abstract]  
Basis Of Presentation

Note 1. Basis of Presentation

The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc. and subsidiaries ("ADP" or the "Company") have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The Consolidated Financial Statements and footnotes thereto are unaudited. In the opinion of the Company's management, the Consolidated Financial Statements reflect all adjustments, which are of a normal recurring nature, that are necessary for a fair statement of the Company's results for the interim periods.

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

Interim financial results are not necessarily indicative of financial results for a full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended June 30, 2011 ("fiscal 2011").

New Accounting Pronouncements
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New Accounting Pronouncements
 3 Months Ended
Sep. 30, 2011
New Accounting Pronouncements [Abstract]  
New Accounting Pronouncements

Note 2. New Accounting Pronouncements

In April 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2011-03, "Transfers and Servicing (Topic 860): Reconsideration of Effective Control for Repurchase Agreements." ASU 2011-03 revises the criteria for assessing effective control for repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. The determination of whether the transfer of a financial asset subject to a repurchase agreement is a sale is based, in part, on whether the entity maintains effective control over the financial asset. ASU 2011-03 removes from the assessment of effective control: the criterion requiring the transferor to have the ability to repurchase or redeem the financial asset on substantially the agreed terms, even in the event of default by the transferee, and the related requirement to demonstrate that the transferor possesses adequate collateral to fund substantially all the cost of purchasing replacement financial assets. ASU 2011-03 is effective for the first interim or annual period beginning on or after December 15, 2011. The Company does not expect that the adoption of ASU 2011-03 will have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.

In May 2011, the FASB issued ASU 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs." The issuance of ASU 2011-04 results in global fair value measurement and disclosure guidance and minimizes differences between U.S. GAAP and IFRS. ASU 2011-04 requires an expansion of the information required for "level 3" measurements and provides the updates to the existing measurement guidance. ASU 2011-04 is effective for fiscal years and interim periods beginning after December 15, 2011. The Company does not expect that the adoption of ASU 2011-04 will have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.

In June, 2011, the FASB issued ASU 2011-05, "Comprehensive Income (Topic 220): Presentation of Comprehensive Income." ASU 2011-05 requires entities to present net income and other comprehensive income in either a single continuous statement or in two separate, but consecutive, statements of net income and other comprehensive income. ASU 2011-05 is effective for fiscal years beginning after December 15, 2011. The adoption of ASU 2011-05 will not have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.

In September, 2011, the FASB issued ASU 2011-08, "Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment". ASU 2011-08 amends the guidance in ASC 350-20 on testing goodwill for impairment. ASU 2011-08 permits an entity to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is concluded that it is the case, it is necessary to perform the currently prescribed two-step goodwill impairment test. The ASU does not change how goodwill is calculated or assigned to reporting units, nor does it revise the requirement to test goodwill annually for impairment. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 and early adoption is permitted. The adoption of ASU 2011-08 will not have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.

Earnings Per Share (_EPS_)
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Earnings Per Share ("EPS")
 3 Months Ended
Sep. 30, 2011
Earnings Per Share ("EPS") [Abstract]  
Earnings Per Share ("EPS")
Note 3. Earnings per Share ("EPS")        
 
      Effect of Effect of    
      Employee Employee    
      Stock Restricted    
      Option Stock    
    Basic Shares Shares   Diluted
 
Three months ended September 30,            
 
2011            
Net earnings $ 302.7     $ 302.7
Weighted average shares (in millions)   487.9 4.0 1.4   493.3
EPS $ 0.62     $ 0.61
 
2010            
Net earnings $ 278.5     $ 278.5
Weighted average shares (in millions)   491.4 2.2 1.3   494.9
EPS $ 0.57     $ 0.56

 

Options to purchase 0.6 million and 14.8 million shares of common stock for the three months ended September 30, 2011 and 2010, respectively, were excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price of outstanding common shares for the respective period.

Earnings Per Share (_EPS_) (Tables)
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Earnings Per Share ("EPS") (Tables)
 3 Months Ended
Sep. 30, 2011
Earnings Per Share ("EPS") [Abstract]  
Calculation Of Basic And Diluted EPS
Note 3. Earnings per Share ("EPS")        
 
      Effect of Effect of    
      Employee Employee    
      Stock Restricted    
      Option Stock    
    Basic Shares Shares   Diluted
 
Three months ended September 30,            
 
2011            
Net earnings $ 302.7     $ 302.7
Weighted average shares (in millions)   487.9 4.0 1.4   493.3
EPS $ 0.62     $ 0.61
 
2010            
Net earnings $ 278.5     $ 278.5
Weighted average shares (in millions)   491.4 2.2 1.3   494.9
EPS $ 0.57     $ 0.56

Earnings Per Share (_EPS_) (Details)
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Earnings Per Share ("EPS") (Details) (USD $)
In Millions, except Per Share data
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Earnings Per Share ("EPS") [Abstract]    
Net earnings, Basic $ 302.7 $ 278.5
Net earnings, Diluted $ 302.7 $ 278.5
Weighted average shares (in millions), Basic 487.9 491.4
Weighted average shares (in millions) - Effect of Employee Stock Option Shares 4.0 2.2
Weighted average shares (in millions) - Effect of Employee Restricted Stock Shares 1.4 1.3
Weighted average shares (in millions), Diluted 493.3 494.9
Basic Earnings Per Share $ 0.62 $ 0.57
Diluted Earnings Per Share $ 0.61 $ 0.56
Options excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price 0.6 14.8

Other Income, Net
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Other Income, Net
 3 Months Ended
Sep. 30, 2011
Other Income, Net [Abstract]  
Other Income, Net
Note 4. Other Income, net            
    Three Months Ended  
    September 30,  
    2011     2010  
Interest income on corporate funds $ (29.6 ) $ (30.7 )
Realized gains on available-for-sale securities   (4.3 )   (12.2 )
Realized losses on available-for-sale securities   0.3     0.4  
Impairment losses on assets held for sale   -     8.6  
Gains on sales of buildings   -     (1.8 )
Other, net   (0.6 )   (1.5 )
 
Other income, net $ (34.2 ) $ (37.2 )

 

Proceeds from sales and maturities of available-for-sale securities were $844.3 million and $826.9 million for the three months ended September 30, 2011 and 2010, respectively.

At September 30, 2010, the Company reclassified assets related to two buildings as Assets Held for Sale on the Consolidated Balance Sheets. Such assets were previously reported in property, plant and equipment, net, on the Consolidated Balance Sheets. As the carrying amount of the Assets Held for Sale exceeded their fair value less costs to sell, the Company recorded impairment losses of $8.6 million in other income, net, on the Statement of Consolidated Earnings for the three months ended September 30, 2010. These two buildings remain in Assets Held for Sale at September 30, 2011.

During the three months ended September 30, 2010, the Company sold two buildings that were previously classified as Assets Held for Sale on the Consolidated Balance Sheets and, as a result, recorded a gain of $1.8 million in other income, net, on the Statements of Consolidated Earnings during the three months ended September 30, 2010.

The Company has an outsourcing agreement with Broadridge Financial Solutions, Inc. ("Broadridge") pursuant to which the Company provides data center outsourcing services, which principally consist of information technology services and service delivery network services. As a result of this agreement, the Company recognized income of $28.5 million and $27.3 million for the three months ended September 30, 2011 and 2010, respectively, which is offset by expenses associated with providing such services of $27.9 million and $26.7 million, respectively, both of which were recorded in other income, net, on the Statements of Consolidated Earnings. The Company had receivables on the Consolidated Balance Sheets from Broadridge for the services under this agreement of $9.5 million at both September 30, 2011 and June 30, 2011, respectively. In fiscal 2010, Broadridge notified the Company that it would not extend the outsourcing agreement beyond its current expiration date of June 30, 2012. The Company continues to assess the impact on results of operations, if any, that this will have and does not currently anticipate this will have a material impact.

Other Income, Net (Tables)
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Other Income, Net (Tables)
 3 Months Ended
Sep. 30, 2011
Other Income, Net [Abstract]  
Other Income, Net
Note 4. Other Income, net            
    Three Months Ended  
    September 30,  
    2011     2010  
Interest income on corporate funds $ (29.6 ) $ (30.7 )
Realized gains on available-for-sale securities   (4.3 )   (12.2 )
Realized losses on available-for-sale securities   0.3     0.4  
Impairment losses on assets held for sale   -     8.6  
Gains on sales of buildings   -     (1.8 )
Other, net   (0.6 )   (1.5 )
 
Other income, net $ (34.2 ) $ (37.2 )

Other Income, Net (Narrative) (Details)
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Other Income, Net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Jun. 30, 2011
Other Income, Net [Abstract]      
Proceeds from sales and maturities of available-for-sale securities $ 844.3 $ 826.9  
Gain on sale of buildings   1.8  
Income from Broadridge Financial Solutions, Inc. outsourcing agreement 28.5 27.3  
Cost of services provided pursuant to the Broadridge Financial Solutions, Inc. outsourcing agreement 27.9 26.7  
Receivable for services rendered pursuant to the Broadridge Financial Solutions, Inc. outsourcing agreement 9.5   9.5
Impairment losses on available-for-sale securities   $ 8.6  
Number of buildings reclassified as available for sale 2    
Number of buildings sold 2    

Other Income, Net (Other Income) (Details)
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Other Income, Net (Other Income) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Other Income, Net [Abstract]    
Interest income on corporate funds $ (29.6) $ (30.7)
Realized gains on available-for-sale securities (4.3) (12.2)
Realized losses on available-for-sale securities 0.3 0.4
Impairment losses on assets held for sale   8.6
Gains on sales of buildings   (1.8)
Other, net (0.6) (1.5)
Other income, net $ (34.2) $ (37.2)

Acquisitions
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Acquisitions
 3 Months Ended
Sep. 30, 2011
Acquisitions [Abstract]  
Acquisitions

Note 5. Acquisitions

Assets acquired and liabilities assumed in business combinations were recorded on the Company's Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates. The results of operations of businesses acquired by the Company have been included in the Statements of Consolidated Earnings since their respective dates of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed was allocated to goodwill. In certain circumstances, the allocations of the excess purchase price are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when the Company receives final information, including appraisals and other analyses, which typically occurs within one year from the date of acquisition.

On August 16, 2010, the Company acquired 100% of the outstanding shares of Cobalt, a leading provider of digital marketing solutions for the auto industry that aligns with Dealer Services' global layered applications strategy and strongly supports Dealer Services' long-term growth strategy, for approximately $405.4 million in cash, net of cash acquired.

The final purchase price allocation for Cobalt is as follows:

Accounts receivable, net $ 42.5
Goodwill   293.5
Identifiable intangible assets   111.6
Other assets   37.5
Total assets acquired $ 485.1
 
Total liabilities acquired $ 58.0

 

The Company determined the purchase price allocations for this acquisition based on estimates of the fair value of tangible and intangible assets acquired and liabilities assumed, utilizing recognized valuation techniques, including the income and market approaches. Goodwill for Cobalt, which is not deductible for tax purposes, resulted from the expected impact to Dealer Services' long-term growth strategy. Intangible assets for Cobalt, which totaled $111.6 million, included customer contracts and lists, software and trademarks that are being amortized over a weighted average life of approximately 11 years. There is no contingent consideration relating to the Cobalt acquisition.

In addition to Cobalt discussed above, the Company acquired two businesses during the three months ended September 30, 2010 for approximately $72.5 million, net of cash acquired. These acquisitions resulted in approximately $14.6 million of goodwill. Intangible assets acquired, which totaled approximately $40.8 million for these two acquisitions, included customer contracts and lists, software and trademarks that are being amortized over a weighted average life of approximately 11 years. The Company finalized the purchase price allocation for these three acquisitions during the three months ended September 30, 2011 and adjusted the preliminary values allocated to certain assets and liabilities in order to reflect final information received. Refer to Note 9 for more information related to Goodwill and Intangible Assets, net.

The Company acquired one business during the three months ended September 30, 2011 for approximately $2.6 million, including a holdback to secure the fulfillment of certain contractual obligations of the sellers. This acquisition was not material to the Company's results of operations, financial position, or cash flows.

Acquisitions (Tables)
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Acquisitions (Tables)
 3 Months Ended
Sep. 30, 2011
Acquisitions [Abstract]  
Purchase Price Of Cobalt
Accounts receivable, net $ 42.5
Goodwill   293.5
Identifiable intangible assets   111.6
Other assets   37.5
Total assets acquired $ 485.1
 
Total liabilities acquired $ 58.0

Acquisitions (Narrative) (Details)
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Acquisitions (Narrative) (Details) (USD $)
 3 Months Ended 0 Months Ended 3 Months Ended
Sep. 30, 2010
years
Aug. 16, 2010
Cobalt [Member]
Sep. 30, 2011
Cobalt [Member]
Business Acquisition [Line Items]      
Purchase price for acquisitions, net of cash acquired $ 72,500,000 $ 405,400,000 $ 2,600,000
Number of businesses acquired 2   1
Identifiable intangible assets 40,800,000 111,600,000  
Weighted average amortized life of intangible assets acquired as part of acquisitions (years) 11 11  
Contingent consideration   0  
Cobalt outstanding shares acquired   100.00%  
Amount of Goodwill resulting from acquisitions $ 14,600,000 $ 293,500,000  

Acquisitions (Purchase Price Of Cobalt) (Details)
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Acquisitions (Purchase Price Of Cobalt) (Details) (USD $)
In Millions
Sep. 30, 2010
Aug. 16, 2010
Cobalt [Member]
Business Acquisition [Line Items]    
Accounts receivable, net   $ 42.5
Goodwill 14.6 293.5
Identifiable intangible assets 40.8 111.6
Other assets   37.5
Total assets acquired   485.1
Total liabilities acquired   $ 58.0

Corporate Investments And Funds Held For Clients
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Corporate Investments And Funds Held For Clients
 3 Months Ended
Sep. 30, 2011
Corporate Investments And Funds Held For Clients [Abstract]  
Corporate Investments And Funds Held For Clients

Note 6. Corporate Investments and Funds Held for Clients

Corporate investments and funds held for clients at September 30, 2011 and June 30, 2011 were as follows:

                   
        September 30, 2011      
        Gross   Gross      
    Amortized   Unrealized Unrealized      
    Cost   Gains   Losses     Fair Value
Type of issue:                  
Money market securities and other cash                  
equivalents $ 3,390.7 $ - $ -     3,390.7
Available-for-sale securities:                  
U.S. Treasury and direct obligations of                  
U.S. government agencies   6,466.3   277.4   (1.0 )   6,742.7
Corporate bonds   6,297.3   276.5   (6.4 )   6,567.4
Asset-backed securities   375.1   22.8   -     397.9
Commercial mortgage-backed securities   421.5   12.0   -     433.5
Municipal bonds   486.9   30.1   (0.1 )   516.9
Canadian government obligations and                  
Canadian government agency obligations   972.1   33.2   -     1,005.3
Other securities   1,488.5   97.2   (0.3 )   1,585.4
 
Total available-for-sale securities   16,507.7   749.2   (7.8 )   17,249.1
 
Total corporate investments and funds                  
held for clients $ 19,898.4 $ 749.2 $ (7.8 ) $ 20,639.8
 
 
        June 30, 2011      
        Gross   Gross      
    Amortized   Unrealized Unrealized      
    Cost   Gains   Losses     Fair Value
Type of issue:                  
Money market securities and other cash                  
equivalents $ 9,731.8 $ - $ -   $ 9,731.8
Available-for-sale securities:                  
U.S. Treasury and direct obligations of                  
U.S. government agencies   6,558.2   213.0   (12.1 )   6,759.1
Corporate bonds   5,908.6   234.9   (16.9 )   6,126.6
Asset-backed securities   422.4   25.4   -     447.8
Commercial mortgage backed securities   476.6   15.9   -     492.5
Municipal bonds   493.7   23.1   (0.6 )   516.2
Canadian government obligations and                  
Canadian government agency obligations   1,082.0   20.8   (1.3 )   1,101.5
Other securities   1,415.1   72.4   (3.7 )   1,483.8
 
Total available-for-sale securities   16,356.6   605.5   (34.6 )   16,927.5
 
Total corporate investments and funds                  
held for clients $ 26,088.4 $ 605.5 $ (34.6 ) $ 26,659.3

 

At September 30, 2011, U.S. Treasury and direct obligations of U.S. government agencies primarily include debt directly issued by Federal Home Loan Banks, Federal Farm Credit Banks, Federal National Mortgage Association ("Fannie Mae") and Federal Home Loan Mortgage Corporation ("Freddie Mac") and with fair values of $3,945.6 million, $929.0 million, $695.0 million, and $653.0 million, respectively.

At June 30, 2011, U.S. Treasury and direct obligations of U. S. government agencies primarily include debt directly issued by Federal Home Loan Banks, Federal Farm Credit Banks, Fannie Mae, and Freddie Mac with fair values of $3,886.5 million, $914.0 million, $702.4 million and $759.1 million, respectively. U.S. Treasury and direct obligations of U.S. government agencies represent senior, unsecured, non-callable debt that primarily carries a credit rating of AAA, as rated by Moody's and AA+, as rated by Standard & Poor's and has maturities ranging from October 2011 through June 2021.

At September 30, 2011, asset-backed securities include primarily AAA rated senior tranches of securities with predominately prime collateral of fixed rate credit card, rate reduction and auto loan receivables with fair values of $205.2 million, $170.9 million and $21.4 million, respectively. At June 30, 2011, asset-backed securities include primarily AAA rated senior tranches of securities with predominately prime collateral of fixed rate credit card, rate reduction and auto loan receivables with fair values of $220.5 million, $196.9 million and $30.0 million, respectively. These securities are collateralized by the cash flows of the underlying pools of receivables. The primary risk associated with these securities is the collection risk of the underlying receivables. All collateral on such asset-backed securities has performed as expected through September 30, 2011.

At September 30, 2011, other securities and their fair value primarily represent Canadian provincial bonds of $548.1 million, supranational bonds of $386.9 million, sovereign bonds of $357.8 million, AAA rated mortgage-backed securities of $145.5 million that are guaranteed by Fannie Mae and Freddie Mac and corporate bonds backed by the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program of $128.3 million. At June 30, 2011, other securities and their fair value primarily represent Canadian provincial bonds of $494.3 million, supranational bonds of $360.1 million, sovereign bonds of $328.8 million, AAA rated mortgage-backed securities of $146.5 million that are guaranteed by Fannie Mae and Freddie Mac and corporate bonds backed by the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program of $129.1 million. The Company's AAA rated mortgage-backed securities represent an undivided beneficial ownership interest in a group or pool of one or more residential mortgages. These securities are collateralized by the cash flows of 15-year and 30-year residential mortgages and are guaranteed by Fannie Mae and Freddie Mac as to the timely payment of principal and interest.

Classification of corporate investments on the Consolidated Balance Sheets is as follows:

         
    September 30,   June 30,
    2011   2011
 
Corporate investments:        
Cash and cash equivalents $ 1,248.9 $ 1,389.4
Short-term marketable securities   19.1   36.3
Long-term marketable securities   99.7   98.0
Total corporate investments $ 1,367.7 $ 1,523.7

 

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

Funds held for clients have been invested in the following categories:

         
    September 30,   June 30,
    2011   2011
 
Funds held for clients:        
Restricted cash and cash equivalents held        
to satisfy client funds obligations $ 2,141.8 $ 8,342.4
Restricted short-term marketable securities held        
to satisfy client funds obligations   2,824.5   3,059.9
Restricted long-term marketable securities held        
to satisfy client funds obligations   14,305.8   13,733.3
Total funds held for clients $ 19,272.1 $ 25,135.6

 

Client funds obligations represent the Company's contractual obligations to remit funds to satisfy clients' payroll and tax payment obligations and are recorded on the Consolidated Balance Sheets at the time that the Company impounds funds from clients. The client funds obligations represent liabilities that will be repaid within one year of the balance sheet date. The Company has reported client funds obligations as a current liability on the Consolidated Balance Sheets totaling $18,552.6 million and $24,591.1 million as of September 30, 2011 and June 30, 2011, respectively. The Company has classified funds held for clients as a current asset since these funds are held solely for the purposes of satisfying the client funds obligations. The Company has reported the cash flows related to the purchases of corporate and client funds marketable securities and related to the proceeds from the sales and maturities of corporate and client funds marketable securities on a gross basis in the investing section of the Statements of Consolidated Cash Flows. The Company has reported the cash inflows and outflows related to client funds investments with original maturities of 90 days or less on a net basis within net increase in restricted cash and cash equivalents and other restricted assets held to satisfy client funds obligations in the investing section of the Statements of Consolidated Cash Flows. The Company has reported the cash flows related to the cash received from and paid on behalf of clients on a net basis within net increase in client funds obligations in the financing section of the Statements of Consolidated Cash Flows.

Approximately 87% of the available-for-sale securities held a AAA or AA rating at September 30, 2011, as rated by Moody's, Standard & Poor's and, for Canadian securities, Dominion Bond Rating Service. All available-for-sale securities were rated as investment grade at September 30, 2011.

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of September 30, 2011, are as follows:

                             
    Unrealized         Unrealized              
    losses     Fair market   losses   Fair market   Total gross      
    less than     value less than   greater than   value greater   unrealized     Total fair
    12 months     12 months   12 months   than 12 months   losses     market value
 
U.S. Treasury and direct obligations of                            
U.S. government agencies $ (1.0 ) $ 182.5 $ - $ - $ (1.0 ) $ 182.5
Corporate bonds   (6.4 )   470.4   -   -   (6.4 )   470.4
Asset-backed securities   -     2.6   -   -   -     2.6
Commercial mortgage-backed securities   -     28.2   -   -   -     28.2
Municipal bonds   (0.1 )   5.3   -   -   (0.1 )   5.3
Canadian government obligations and                           -
Canadian government agency obligations   -     6.7   -   -   -     6.7
Other securities   (0.3 )   17.5   -   -   (0.3 )   17.5
 
  $ (7.8 ) $ 713.2 $ - $ - $ (7.8 ) $ 713.2

 

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2011 are as follows:

                             
    Unrealized         Unrealized              
    losses     Fair market   losses   Fair market   Total gross      
    less than     value less than   greater than   value greater   unrealized     Total fair
    12 months     12 months   12 months   than 12 months   losses     market value
 
U.S. Treasury and direct obligations of                            
U.S. government agencies $ (12.1 ) $ 1,049.0 $ - $ - $ (12.1 ) $ 1,049.0
Corporate bonds   (16.9 )   945.2   -   -   (16.9 )   945.2
Asset-backed securities   -     0.5   -   -   -     0.5
Commercial mortgage-backed securities   -     17.3   -   -   -     17.3
Municipal bonds   (0.6 )   35.0   -   -   (0.6 )   35.0
Canadian government obligations and                            
Canadian government agency obligations   (1.3 )   227.7   -   -   (1.3 )   227.7
Other securities   (3.7 )   242.3   -   -   (3.7 )   242.3
 
  $ (34.6 ) $ 2,517.0 $ - $ - $ (34.6 ) $ 2,517.0

 

Expected maturities of available-for-sale securities at September 30, 2011 are as follows:

     
Due in one year or less $ 2,843.7
Due after one year to two years   3,157.0
Due after two years to three years   1,705.5
Due after three years to four years   3,790.7
Due after four years   5,752.2
 
Total available-for-sale securities $ 17,249.1

 

For the securities in an unrealized loss position of $7.8 million at September 30, 2011, the Company concluded that it did not have the intent to sell such securities and it was not more likely than not that the Company would be required to sell such securities before recovery, in order to determine whether such losses were due to credit losses. The securities with unrealized losses of $7.8 million were primarily comprised of corporate bonds and U.S. Treasury and direct obligations of U.S. government agencies.

The Company evaluated such securities utilizing a variety of quantitative and qualitative factors including whether the Company expects to collect all amounts due under the contractual terms of the security, information about current and past events of the issuer, and the length of time and the extent to which the fair value has been less than the cost basis. At September 30, 2011, the Company concluded that unrealized losses on available-for-sale securities held at September 30, 2011 were not credit losses and were attributable to changes in interest rates. As a result, the Company concluded that the $7.8 million in unrealized losses on such securities should be recorded in accumulated other comprehensive income on the Consolidated Balance Sheets at September 30, 2011.

Corporate Investments And Funds Held For Clients (Tables)
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Corporate Investments And Funds Held For Clients (Tables)
 3 Months Ended
Sep. 30, 2011
Corporate Investments And Funds Held For Clients [Abstract]  
Corporate Investments And Funds Held For Clients
                   
        September 30, 2011      
        Gross   Gross      
    Amortized   Unrealized Unrealized      
    Cost   Gains   Losses     Fair Value
Type of issue:                  
Money market securities and other cash                  
equivalents $ 3,390.7 $ - $ -     3,390.7
Available-for-sale securities:                  
U.S. Treasury and direct obligations of                  
U.S. government agencies   6,466.3   277.4   (1.0 )   6,742.7
Corporate bonds   6,297.3   276.5   (6.4 )   6,567.4
Asset-backed securities   375.1   22.8   -     397.9
Commercial mortgage-backed securities   421.5   12.0   -     433.5
Municipal bonds   486.9   30.1   (0.1 )   516.9
Canadian government obligations and                  
Canadian government agency obligations   972.1   33.2   -     1,005.3
Other securities   1,488.5   97.2   (0.3 )   1,585.4
 
Total available-for-sale securities   16,507.7   749.2   (7.8 )   17,249.1
 
Total corporate investments and funds                  
held for clients $ 19,898.4 $ 749.2 $ (7.8 ) $ 20,639.8
 
 
        June 30, 2011      
        Gross   Gross      
    Amortized   Unrealized Unrealized      
    Cost   Gains   Losses     Fair Value
Type of issue:                  
Money market securities and other cash                  
equivalents $ 9,731.8 $ - $ -   $ 9,731.8
Available-for-sale securities:                  
U.S. Treasury and direct obligations of                  
U.S. government agencies   6,558.2   213.0   (12.1 )   6,759.1
Corporate bonds   5,908.6   234.9   (16.9 )   6,126.6
Asset-backed securities   422.4   25.4   -     447.8
Commercial mortgage backed securities   476.6   15.9   -     492.5
Municipal bonds   493.7   23.1   (0.6 )   516.2
Canadian government obligations and                  
Canadian government agency obligations   1,082.0   20.8   (1.3 )   1,101.5
Other securities   1,415.1   72.4   (3.7 )   1,483.8
 
Total available-for-sale securities   16,356.6   605.5   (34.6 )   16,927.5
 
Total corporate investments and funds                  
held for clients $ 26,088.4 $ 605.5 $ (34.6 ) $ 26,659.3
Classification Of Corporate Investments On The Consolidated Balance Sheets
         
    September 30,   June 30,
    2011   2011
 
Corporate investments:        
Cash and cash equivalents $ 1,248.9 $ 1,389.4
Short-term marketable securities   19.1   36.3
Long-term marketable securities   99.7   98.0
Total corporate investments $ 1,367.7 $ 1,523.7
Schedule Of Investment Of Funds Held For Clients
         
    September 30,   June 30,
    2011   2011
 
Funds held for clients:        
Restricted cash and cash equivalents held        
to satisfy client funds obligations $ 2,141.8 $ 8,342.4
Restricted short-term marketable securities held        
to satisfy client funds obligations   2,824.5   3,059.9
Restricted long-term marketable securities held        
to satisfy client funds obligations   14,305.8   13,733.3
Total funds held for clients $ 19,272.1 $ 25,135.6
Available-For-Sale Securities That Have Been In An Unrealized Loss Position

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of September 30, 2011, are as follows:

                             
    Unrealized         Unrealized              
    losses     Fair market   losses   Fair market   Total gross      
    less than     value less than   greater than   value greater   unrealized     Total fair
    12 months     12 months   12 months   than 12 months   losses     market value
 
U.S. Treasury and direct obligations of                            
U.S. government agencies $ (1.0 ) $ 182.5 $ - $ - $ (1.0 ) $ 182.5
Corporate bonds   (6.4 )   470.4   -   -   (6.4 )   470.4
Asset-backed securities   -     2.6   -   -   -     2.6
Commercial mortgage-backed securities   -     28.2   -   -   -     28.2
Municipal bonds   (0.1 )   5.3   -   -   (0.1 )   5.3
Canadian government obligations and                           -
Canadian government agency obligations   -     6.7   -   -   -     6.7
Other securities   (0.3 )   17.5   -   -   (0.3 )   17.5
 
  $ (7.8 ) $ 713.2 $ - $ - $ (7.8 ) $ 713.2

 

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2011 are as follows:

                             
    Unrealized         Unrealized              
    losses     Fair market   losses   Fair market   Total gross      
    less than     value less than   greater than   value greater   unrealized     Total fair
    12 months     12 months   12 months   than 12 months   losses     market value
 
U.S. Treasury and direct obligations of                            
U.S. government agencies $ (12.1 ) $ 1,049.0 $ - $ - $ (12.1 ) $ 1,049.0
Corporate bonds   (16.9 )   945.2   -   -   (16.9 )   945.2
Asset-backed securities   -     0.5   -   -   -     0.5
Commercial mortgage-backed securities   -     17.3   -   -   -     17.3
Municipal bonds   (0.6 )   35.0   -   -   (0.6 )   35.0
Canadian government obligations and                            
Canadian government agency obligations   (1.3 )   227.7   -   -   (1.3 )   227.7
Other securities   (3.7 )   242.3   -   -   (3.7 )   242.3
 
  $ (34.6 ) $ 2,517.0 $ - $ - $ (34.6 ) $ 2,517.0
Expected Maturities Of Available-For-Sale Securities
     
Due in one year or less $ 2,843.7
Due after one year to two years   3,157.0
Due after two years to three years   1,705.5
Due after three years to four years   3,790.7
Due after four years   5,752.2
 
Total available-for-sale securities $ 17,249.1

Corporate Investments And Funds Held For Clients (Narrative) (Details)
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Corporate Investments And Funds Held For Clients (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Sep. 30, 2011
Jun. 30, 2011
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value $ 17,249.1 $ 16,927.5
Client funds obligations 18,552.6 24,591.1
Available-for-sale securities, continuous unrealized loss position, aggregate losses 7.8  
Percentage of the available-for-sale securities were rated AAA or AA 87.00%  
Client funds investments with original maturities 90 days or less  
Earliest non-callable debt maturity date October 2011  
Latest non-callable debt maturity date June 2021  
Length of shortest cash flow of residential mortgages used as collateral for the Company's mortgage-backed securities (in years) 15  
Length of longest cash flow of residential mortgages used as collateral for the Company's mortgage-backed securities (in years) 30  
Federal Home Loan Banks [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 3,945.6 3,886.5
Federal Farm Credit Banks [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 929.0 914.0
Federal National Mortgage Association ("Fannie Mae") [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 695.0 702.4
Federal Home Loan Mortgage Corporation ("Freddie Mac") [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 653.0 759.1
Fixed Rate Credit Card [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 205.2 220.5
Rate Reduction [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 170.9 196.9
Asset-Backed Auto Loan Receivables [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 21.4 30.0
Residential Mortgage-Backed Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 145.5 146.5
Canadian Provincial Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 548.1 494.3
Corporate Bonds Backed By Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 128.3 129.1
Sovereign Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value 357.8 328.8
Supranational Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - fair value $ 386.9 $ 360.1

Corporate Investments And Funds Held For Clients (Corporate Investments And Funds Held For Clients) (Details)
v4.2.117.0
Corporate Investments And Funds Held For Clients (Corporate Investments And Funds Held For Clients) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Schedule of Available-for-sale Securities [Line Items]    
Money market securities and other cash equivalents - amortized cost $ 3,390.7 $ 9,731.8
Money market securities and other cash equivalents - fair value 3,390.7 9,731.8
Available-for-sale securities - amortized cost 16,507.7 16,356.6
Available-for-sale securities - gross unrealized gains 749.2 605.5
Available-for-sale securities - gross unrealized losses (7.8) (34.6)
Available-for-sale securities - fair value 17,249.1 16,927.5
Total corporate investments and funds held for clients - amortized cost 19,898.4 26,088.4
Total corporate investments and funds held for clients - gross unrealized gains 749.2 605.5
Total corporate investments and funds held for clients - gross unrealized losses (7.8) (34.6)
Total corporate investments and funds held for clients - fair value 20,639.8 26,659.3
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 6,466.3 6,558.2
Available-for-sale securities - gross unrealized gains 277.4 213.0
Available-for-sale securities - gross unrealized losses (1.0) (12.1)
Available-for-sale securities - fair value 6,742.7 6,759.1
Corporate Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 6,297.3 5,908.6
Available-for-sale securities - gross unrealized gains 276.5 234.9
Available-for-sale securities - gross unrealized losses (6.4) (16.9)
Available-for-sale securities - fair value 6,567.4 6,126.6
Asset-Backed Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 375.1 422.4
Available-for-sale securities - gross unrealized gains 22.8 25.4
Available-for-sale securities - fair value 397.9 447.8
Commercial Mortgage-Backed Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 421.5 476.6
Available-for-sale securities - gross unrealized gains 12.0 15.9
Available-for-sale securities - fair value 433.5 492.5
Municipal Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 486.9 493.7
Available-for-sale securities - gross unrealized gains 30.1 23.1
Available-for-sale securities - gross unrealized losses (0.1) (0.6)
Available-for-sale securities - fair value 516.9 516.2
Canadian Government Obligations And Canadian Government Agency Obligations [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 972.1 1,082.0
Available-for-sale securities - gross unrealized gains 33.2 20.8
Available-for-sale securities - gross unrealized losses   (1.3)
Available-for-sale securities - fair value 1,005.3 1,101.5
Other Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Available-for-sale securities - amortized cost 1,488.5 1,415.1
Available-for-sale securities - gross unrealized gains 97.2 72.4
Available-for-sale securities - gross unrealized losses (0.3) (3.7)
Available-for-sale securities - fair value $ 1,585.4 $ 1,483.8

Corporate Investments And Funds Held For Clients (Classification Of Corporate Investments On The Consolidated Balance Sheets) (Details)
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Corporate Investments And Funds Held For Clients (Classification Of Corporate Investments On The Consolidated Balance Sheets) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Sep. 30, 2010
Jun. 30, 2010
Corporate Investments And Funds Held For Clients [Abstract]        
Cash and cash equivalents $ 1,248.9 $ 1,389.4 $ 1,176.7 $ 1,643.3
Short-term marketable securities 19.1 36.3    
Long-term marketable securities 99.7 98.0    
Total corporate investments $ 1,367.7 $ 1,523.7    

Corporate Investments And Funds Held For Clients (Schedule Of Investment Of Funds Held For Clients) (Details)
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Corporate Investments And Funds Held For Clients (Schedule Of Investment Of Funds Held For Clients) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Corporate Investments And Funds Held For Clients [Abstract]    
Restricted cash and cash equivalents held to satisfy client funds obligations $ 2,141.8 $ 8,342.4
Restricted short-term marketable securities held to satisfy client funds obligations 2,824.5 3,059.9
Restricted long-term marketable securities held to satisfy client funds obligations 14,305.8 13,733.3
Total funds held for clients $ 19,272.1 $ 25,135.6

Corporate Investments And Funds Held For Clients (Available-For-Sale Securities That Have Been In An Unrealized Loss Position) (Details)
v4.2.117.0
Corporate Investments And Funds Held For Clients (Available-For-Sale Securities That Have Been In An Unrealized Loss Position) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months $ (7.8) $ (34.6)
Fair market value less than twelve months 713.2 2,517.0
Available-for-sale securities - gross unrealized losses (7.8) (34.6)
Total fair market value 713.2 2,517.0
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months (1.0) (12.1)
Fair market value less than twelve months 182.5 1,049.0
Available-for-sale securities - gross unrealized losses (1.0) (12.1)
Total fair market value 182.5 1,049.0
Corporate Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months (6.4) (16.9)
Fair market value less than twelve months 470.4 945.2
Available-for-sale securities - gross unrealized losses (6.4) (16.9)
Total fair market value 470.4 945.2
Asset-Backed Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Fair market value less than twelve months 2.6 0.5
Total fair market value 2.6 0.5
Commercial Mortgage-Backed Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Fair market value less than twelve months 28.2 17.3
Total fair market value 28.2 17.3
Municipal Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months (0.1) (0.6)
Fair market value less than twelve months 5.3 35.0
Available-for-sale securities - gross unrealized losses (0.1) (0.6)
Total fair market value 5.3 35.0
Canadian Government Obligations And Canadian Government Agency Obligations [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months   (1.3)
Fair market value less than twelve months 6.7 227.7
Available-for-sale securities - gross unrealized losses   (1.3)
Total fair market value 6.7 227.7
Other Securities [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
Unrealized losses less than twelve months (0.3) (3.7)
Fair market value less than twelve months 17.5 242.3
Available-for-sale securities - gross unrealized losses (0.3) (3.7)
Total fair market value $ 17.5 $ 242.3

Corporate Investments And Funds Held For Clients (Expected Maturities Of Available-For-Sale Securities) (Details)
v4.2.117.0
Corporate Investments And Funds Held For Clients (Expected Maturities Of Available-For-Sale Securities) (Details) (USD $)
In Millions
Sep. 30, 2011
Corporate Investments And Funds Held For Clients [Abstract]  
Due in one year or less $ 2,843.7
Due after one year up to two years 3,157.0
Due after two years up to three years 1,705.5
Due after three years up to four years 3,790.7
Due after four years 5,752.2
Total available-for-sale securities $ 17,249.1

Fair Value Measurements
v4.2.117.0
Fair Value Measurements
 3 Months Ended
Sep. 30, 2011
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 7. Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date and is based upon the Company's principal or most advantageous market for a specific asset or liability.

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

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

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

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

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

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

The following table presents the Company's assets measured at fair value on a recurring basis at September 30, 2011. Included in the table are available-for-sale securities within corporate investments of $118.8 million and funds held for clients of $17,130.3 million. Refer to Note 6 for additional disclosure in relation to corporate investments and funds held for clients.

    Level 1   Level 2   Level 3   Total
 
U.S Treasury and direct obligations of                
U.S. government agencies $ - $ 6,742.7 $ - $ 6,742.7
Corporate bonds   -   6,567.4   -   6,567.4
Asset-backed securities   -   397.9   -   397.9
Commercial mortgage-backed securities   -   433.5   -   433.5
Municipal bonds   -   516.9   -   516.9
Canadian government obligations and                
Canadian government agency obligations   -   1,005.3   -   1,005.3
Other securities   14.0   1,571.4   -   1,585.4
Total available-for-sale securities $ 14.0 $ 17,235.1 $ - $ 17,249.1

 

The following table presents the Company's assets measured at fair value on a recurring basis at June 30, 2011. Included in the table are available-for-sale securities within corporate investments of $134.3 million and funds held for clients of $16,793.2 million.

    Level 1   Level 2   Level 3   Total
 
U.S Treasury and direct obligations of                
U.S. government agencies $ - $ 6,759.1 $ - $ 6,759.1
Corporate bonds   -   6,126.6   -   6,126.6
Asset-backed securities   -   447.8   -   447.8
Commercial mortgage-backed securities   -   492.5   -   492.5
Municipal bonds   -   516.2   -   516.2
Canadian government obligations and                
Canadian government agency obligations   -   1,101.5   -   1,101.5
Other securities   20.1   1,463.7   -   1,483.8
Total available-for-sale securities $ 20.1 $ 16,907.4 $ - $ 16,927.5

Fair Value Measurements (Tables)
v4.2.117.0
Fair Value Measurements (Tables)
 3 Months Ended 12 Months Ended
Sep. 30, 2011
Jun. 30, 2011
Fair Value Measurements [Abstract]    
Schedule Of Assets Measured At Fair Value On A Recurring Basis
    Level 1   Level 2   Level 3   Total
 
U.S Treasury and direct obligations of                
U.S. government agencies $ - $ 6,742.7 $ - $ 6,742.7
Corporate bonds   -   6,567.4   -   6,567.4
Asset-backed securities   -   397.9   -   397.9
Commercial mortgage-backed securities   -   433.5   -   433.5
Municipal bonds   -   516.9   -   516.9
Canadian government obligations and                
Canadian government agency obligations   -   1,005.3   -   1,005.3
Other securities   14.0   1,571.4   -   1,585.4
Total available-for-sale securities $ 14.0 $ 17,235.1 $ - $ 17,249.1
    Level 1   Level 2   Level 3   Total
 
U.S Treasury and direct obligations of                
U.S. government agencies $ - $ 6,759.1 $ - $ 6,759.1
Corporate bonds   -   6,126.6   -   6,126.6
Asset-backed securities   -   447.8   -   447.8
Commercial mortgage-backed securities   -   492.5   -   492.5
Municipal bonds   -   516.2   -   516.2
Canadian government obligations and                
Canadian government agency obligations   -   1,101.5   -   1,101.5
Other securities   20.1   1,463.7   -   1,483.8
Total available-for-sale securities $ 20.1 $ 16,907.4 $ - $ 16,927.5

Fair Value Measurements (Schedule Of Assets Measured At Fair Value On A Recurring Basis) (Details)
v4.2.117.0
Fair Value Measurements (Schedule Of Assets Measured At Fair Value On A Recurring Basis) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities $ 17,249.1 $ 16,927.5
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 6,742.7 6,759.1
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
U.S. Treasury And Direct Obligations Of U.S. Government Agencies [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 6,742.7 6,759.1
Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 6,567.4 6,126.6
Corporate Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Corporate Bonds [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 6,567.4 6,126.6
Asset-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 397.9 447.8
Asset-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Asset-Backed Securities [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 397.9 447.8
Commercial Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 433.5 492.5
Commercial Mortgage-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Commercial Mortgage-Backed Securities [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 433.5 492.5
Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 516.9 516.2
Municipal Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Municipal Bonds [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 516.9 516.2
Canadian Government Obligations And Canadian Government Agency Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 1,005.3 1,101.5
Canadian Government Obligations And Canadian Government Agency Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Canadian Government Obligations And Canadian Government Agency Obligations [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 1,005.3 1,101.5
Other Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 14.0 20.1
Other Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 1,571.4 1,463.7
Other Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Other Securities [Member] | Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 1,585.4 1,483.8
Corporate Investments [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 118.8 134.3
Funds Held For Clients [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 17,130.3 16,793.2
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 14.0 20.1
Significant Other Observable Inputs (Level 2) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities 17,235.1 16,907.4
Significant Unobservable Inputs (Level 3) [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities    
Total [Member]
    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total available-for-sale securities $ 17,249.1 $ 16,927.5

Receivables
v4.2.117.0
Receivables
 3 Months Ended
Sep. 30, 2011
Receivables [Abstract]  
Receivables

Note 8. Receivables

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

The Company's receivables, whose carrying value approximates fair value, are as follows:

    September 30, 2011     June 30, 2011    
    Current   Long-term     Current   Long-term  
 
Trade receivables $ 1,209.7   $ -   $ 1,333.2   $ -  
Notes receivable   87.9     142.1     90.5     146.4  
Less:                        
Allowance for doubtful accounts - trade receivables   (46.8 )   -     (44.8 )   -  
Allowance for doubtful accounts - notes receivable   (6.0 )   (9.7 )   (5.7 )   (9.4 )
Unearned income-notes receivable   (7.9 )   (7.6 )   (8.4 )   (8.3 )
 
Total $ 1,236.9   $ 124.8   $ 1,364.8   $ 128.7  

 

The Company determines the allowance for doubtful accounts related to notes receivable based upon a specific reserve for known collection issues, as well as a non-specific reserve based upon aging, both of which are based upon history of such losses and current economic conditions. Based upon our methodology, the notes receivable balances with specific and non-specific reserves and the specific and non-specific reserves associated with those balances are as follows:

        September 30, 2011    
    Notes Receivable   Reserve  
    Current Long-term   Current Long-term
Specific Reserve $ 0.6 $ 0.9 $ 0.6 $ 0.9
Non-specific Reserve   87.3   141.2   5.4   8.8
Total $ 87.9 $ 142.1 $ 6.0 $ 9.7

 

        June 30, 2011    
    Notes Receivable   Reserve  
    Current Long-term   Current Long-term
Specific Reserve $ 0.6 $ 0.9 $ 0.6 $ 0.9
Non-specific Reserve   89.9   145.5   5.1   8.5
Total $ 90.5 $ 146.4 $ 5.7 $ 9.4

 

The rollforward of the allowance for doubtful accounts related to notes receivable is as follows:

    Current     Long-term  
Balance at June 30, 2011 $ 5.7   $ 9.4  
Incremental provision   0.4     0.3  
Recoveries   0.1     0.2  
Chargeoffs   (0.2 )   (0.2 )
 
Balance at September 30, 2011 $ 6.0     9.7  

 

As of September 30, 2011 and June 30, 2011, the allowance for doubtful accounts as a percentage of notes receivable is approximately 7% and 6%, respectively.

Notes receivable aged over 30 days past due are considered delinquent. Notes receivable aged over 60 days past due and notes receivable with known collection issues are placed on non-accrual status. Interest revenue is not recognized on notes receivable while on non-accrual status. Cash payments received on non-accrual receivables are applied towards principal. When notes receivable on non-accrual status are again less than 60 days past due, recognition of interest revenue for notes receivable is resumed. At September 30, 2011, the Company had $1.0 million in notes receivable on non-accrual status, including $0.4 million of notes receivable aged over 60 days past due.

On an ongoing basis, the Company evaluates the credit quality of its financing receivables, utilizing aging of receivables, collection experience and charge-offs. In addition, the Company evaluates economic conditions in the auto industry and specific dealership matters, such as bankruptcy. As events related to a specific client dictate, the credit quality of a client is reevaluated.

The aging of the notes receivable past due at September 30, 2011 is as follows:

    Over 30 days to 60    
    days   Over 60 days
Notes Receivables $ 1.7 $ 0.4

 

At September 30, 2011, approximately 99% of notes receivable are current. During the three months ended September 30, 2011, the charge-offs as a percentage of notes receivable were 0.2%.

Receivables (Tables)
v4.2.117.0
Receivables (Tables)
 3 Months Ended
Sep. 30, 2011
Receivables [Abstract]  
Schedule Of The Company's Receivables
    September 30, 2011     June 30, 2011    
    Current   Long-term     Current   Long-term  
 
Trade receivables $ 1,209.7   $ -   $ 1,333.2   $ -  
Notes receivable   87.9     142.1     90.5     146.4  
Less:                        
Allowance for doubtful accounts - trade receivables   (46.8 )   -     (44.8 )   -  
Allowance for doubtful accounts - notes receivable   (6.0 )   (9.7 )   (5.7 )   (9.4 )
Unearned income-notes receivable   (7.9 )   (7.6 )   (8.4 )   (8.3 )
 
Total $ 1,236.9   $ 124.8   $ 1,364.8   $ 128.7  
Schedule Of The Allowance For Doubtful Accounts For Notes Receivable
        September 30, 2011    
    Notes Receivable   Reserve  
    Current Long-term   Current Long-term
Specific Reserve $ 0.6 $ 0.9 $ 0.6 $ 0.9
Non-specific Reserve   87.3   141.2   5.4   8.8
Total $ 87.9 $ 142.1 $ 6.0 $ 9.7

 

        June 30, 2011    
    Notes Receivable   Reserve  
    Current Long-term   Current Long-term
Specific Reserve $ 0.6 $ 0.9 $ 0.6 $ 0.9
Non-specific Reserve   89.9   145.5   5.1   8.5
Total $ 90.5 $ 146.4 $ 5.7 $ 9.4
Rollforward Of The Allowance For Doubtful Accounts For Notes Receivable
    Current     Long-term  
Balance at June 30, 2011 $ 5.7   $ 9.4  
Incremental provision   0.4     0.3  
Recoveries   0.1     0.2  
Chargeoffs   (0.2 )   (0.2 )
 
Balance at September 30, 2011 $ 6.0     9.7  
Schedule Of Aging Of Notes Receivable
    Over 30 days to 60    
    days   Over 60 days
Notes Receivables $ 1.7 $ 0.4

Receivables (Narrative) (Details)
v4.2.117.0
Receivables (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended 12 Months Ended
Sep. 30, 2011
Jun. 30, 2011
Receivables [Abstract]    
Allowance for doubtful accounts as a percentage of notes receivable 7.00% 6.00%
Current notes receivable, non-accrual status $ 1.0  
Long-term notes receivable, non-accrual status $ 0.4  
Percentage of notes receivable that are classified as current 99.00%  
Charge-offs as a percentage of notes receivable 0.20%  
Notes receivable, number of days past due 60  

Receivables (Schedule Of The Company's Receivables) (Details)
v4.2.117.0
Receivables (Schedule Of The Company's Receivables) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Receivables [Abstract]    
Trade receivables - current $ 1,209.7 $ 1,333.2
Trade receivables - long-term    
Notes receivable - current 87.9 90.5
Notes receivable - long-term 142.1 146.4
Allowance for doubtful accounts - trade receivables - current (46.8) (44.8)
Allowance for doubtful accounts - trade receivables - long term    
Allowance for doubtful accounts - notes receivable - current (6.0) (5.7)
Allowance for doubtful accounts - notes receivable - long-term (9.7) (9.4)
Unearned income - current (7.9) (8.4)
Unearned income - long term (7.6) (8.3)
Receivables, net - current 1,236.9 1,364.8
Receivables, net - long-term $ 124.8 $ 128.7

Receivables (Schedule Of The Allowance For Doubtful Accounts For Notes Receivable) (Details)
v4.2.117.0
Receivables (Schedule Of The Allowance For Doubtful Accounts For Notes Receivable) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Notes receivable - current $ 87.9 $ 90.5
Notes receivable - long-term 142.1 146.4
Reserve - current 6.0 5.7
Reserve - long-term 9.7 9.4
Specific Reserve [Member]
    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Notes receivable - current 0.6 0.6
Notes receivable - long-term 0.9 0.9
Reserve - current 0.6 0.6
Reserve - long-term 0.9 0.9
Non-Specific Reserve [Member]
    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Notes receivable - current 87.3 89.9
Notes receivable - long-term 141.2 145.5
Reserve - current 5.4 5.1
Reserve - long-term $ 8.8 $ 8.5

Receivables (Rollforward Of The Allowance For Doubtful Accounts For Notes Receivable) (Details)
v4.2.117.0
Receivables (Rollforward Of The Allowance For Doubtful Accounts For Notes Receivable) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Jun. 30, 2011
Sep. 30, 2011
Allowance For Doubtful Accounts, Current [Member]
Sep. 30, 2011
Allowance For Doubtful Accounts, Noncurrent [Member]
Financing Receivable, Recorded Investment [Line Items]        
Beginning balance, current $ 6.0 $ 5.7    
Beginning balance, long-term 9.7 9.4    
Incremental provision     0.4 0.3
Recoveries     0.1 0.2
Chargeoffs     (0.2) (0.2)
Ending balance, current 6.0 5.7    
Ending balance, long-term $ 9.7 $ 9.4    

Receivables (Schedule Of Aging Of Notes Receivable) (Details)
v4.2.117.0
Receivables (Schedule Of Aging Of Notes Receivable) (Details) (USD $)
In Millions
Sep. 30, 2011
Receivables [Abstract]  
Over 30 days to 60 days $ 1.7
Over 60 days $ 0.4

Goodwill And Intangible Assets, Net
v4.2.117.0
Goodwill And Intangible Assets, Net
 3 Months Ended
Sep. 30, 2011
Goodwill And Intangible Assets, Net [Abstract]  
Goodwill And Intangible Assets, Net

Note 9. Goodwill and Intangible Assets, net

Changes in goodwill for the three months ended September 30, 2011 are as follows:

    Employer     PEO   Dealer        
    Services     Services   Services     Total  
 
Balance as of June 30, 2011 $ 1,935.0   $ 4.8 $ 1,133.8   $ 3,073.6  
Additions and other adjustments, net   (13.0 )   -   (18.4 )   (31.4 )
Currency translation adjustments   (34.0 )   -   (10.7 )   (44.7 )
 
Balance as of September 30, 2011 $ 1,888.0   $ 4.8 $ 1,104.7   $ 2,997.5  

 

Components of intangible assets, net, are as follows:

    September 30,     June 30,  
    2011     2011  
Intangible assets:            
Software and software licenses $ 1,335.0   $ 1,322.4  
Customer contracts and lists   810.5     821.0  
Other intangibles   239.1     238.3  
    2,384.6     2,381.7  
Less accumulated amortization:            
Software and software licenses   (1,081.7 )   (1,062.1 )
Customer contracts and lists   (451.9 )   (443.7 )
Other intangibles   (164.3 )   (160.2 )
    (1,697.9 )   (1,666.0 )
Intangible assets, net $ 686.7   $ 715.7  

 

Other intangibles consist primarily of purchased rights, covenants, patents and trademarks (acquired directly or through acquisitions). All of the intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 8 years (4 years for software and software licenses, 11 years for customer contracts and lists, and 8 years for other intangibles). Amortization of intangible assets was $43.2 million and $40.1 million for the three months ended September 30, 2011 and 2010, respectively.


Estimated future amortization expenses of the Company's existing intangible assets are as follows:

    Amount
Nine months ending June 30, 2012 $ 129.3
Twelve months ending June 30, 2013 $ 132.7
Twelve months ending June 30, 2014 $ 102.2
Twelve months ending June 30, 2015 $ 69.0
Twelve months ending June 30, 2016 $ 53.0
Twelve months ending June 30, 2017 $ 40.7

 

The Company has not incurred significant costs to renew or extend the term of acquired intangible assets during the three months ended September 30, 2011.

Goodwill And Intangible Assets, Net (Tables)
v4.2.117.0
Goodwill And Intangible Assets, Net (Tables)
 3 Months Ended
Sep. 30, 2011
Goodwill And Intangible Assets, Net [Abstract]  
Changes In Goodwill
    Employer     PEO   Dealer        
    Services     Services   Services     Total  
 
Balance as of June 30, 2011 $ 1,935.0   $ 4.8 $ 1,133.8   $ 3,073.6  
Additions and other adjustments, net   (13.0 )   -   (18.4 )   (31.4 )
Currency translation adjustments   (34.0 )   -   (10.7 )   (44.7 )
 
Balance as of September 30, 2011 $ 1,888.0   $ 4.8 $ 1,104.7   $ 2,997.5  
Components Of Finite-Lived Intangible Assets
    September 30,     June 30,  
    2011     2011  
Intangible assets:            
Software and software licenses $ 1,335.0   $ 1,322.4  
Customer contracts and lists   810.5     821.0  
Other intangibles   239.1     238.3  
    2,384.6     2,381.7  
Less accumulated amortization:            
Software and software licenses   (1,081.7 )   (1,062.1 )
Customer contracts and lists   (451.9 )   (443.7 )
Other intangibles   (164.3 )   (160.2 )
    (1,697.9 )   (1,666.0 )
Intangible assets, net $ 686.7   $ 715.7  
Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense
    Amount
Nine months ending June 30, 2012 $ 129.3
Twelve months ending June 30, 2013 $ 132.7
Twelve months ending June 30, 2014 $ 102.2
Twelve months ending June 30, 2015 $ 69.0
Twelve months ending June 30, 2016 $ 53.0
Twelve months ending June 30, 2017 $ 40.7

Goodwill And Intangible Assets, Net (Narrative) (Details)
v4.2.117.0
Goodwill And Intangible Assets, Net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Finite-Lived Intangible Assets [Line Items]    
Weighted average remaining useful life of intangible assets (in years) 8  
Amortization expense on intangible assets $ 43.2 $ 40.1
Software And Software Licenses [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Weighted average remaining useful life of intangible assets (in years) 4  
Customer Contracts And Lists [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Weighted average remaining useful life of intangible assets (in years) 11  
Other Intangibles [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Weighted average remaining useful life of intangible assets (in years) 8  

Goodwill And Intangible Assets, Net (Changes In Goodwill) (Details)
v4.2.117.0
Goodwill And Intangible Assets, Net (Changes In Goodwill) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Finite-Lived Intangible Assets [Line Items]  
Beginning balance $ 3,073.6
Additions and other adjustments, net (31.4)
Currency translation adjustments (44.7)
Ending balance 2,997.5
Employer Services Segment [Member]
  
Finite-Lived Intangible Assets [Line Items]  
Beginning balance 1,935.0
Additions and other adjustments, net (13.0)
Currency translation adjustments (34.0)
Ending balance 1,888.0
PEO Services Segment [Member]
  
Finite-Lived Intangible Assets [Line Items]  
Beginning balance 4.8
Additions and other adjustments, net  
Currency translation adjustments  
Ending balance 4.8
Dealer Services Segment [Member]
  
Finite-Lived Intangible Assets [Line Items]  
Beginning balance 1,133.8
Additions and other adjustments, net (18.4)
Currency translation adjustments (10.7)
Ending balance $ 1,104.7

Goodwill And Intangible Assets, Net (Components Of Finite-Lived Intangible Assets) (Details)
v4.2.117.0
Goodwill And Intangible Assets, Net (Components Of Finite-Lived Intangible Assets) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Finite-Lived Intangible Assets [Line Items]    
Total - gross $ 2,384.6 $ 2,381.7
Total - accumulated amortization (1,697.9) (1,666.0)
Intangible assets, net 686.7 715.7
Software And Software Licenses [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 1,335.0 1,322.4
Total - accumulated amortization (1,081.7) (1,062.1)
Customer Contracts And Lists [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 810.5 821.0
Total - accumulated amortization (451.9) (443.7)
Other Intangibles [Member]
    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 239.1 238.3
Total - accumulated amortization $ (164.3) $ (160.2)

Goodwill And Intangible Assets, Net (Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense) (Details)
v4.2.117.0
Goodwill And Intangible Assets, Net (Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Goodwill And Intangible Assets, Net [Abstract]  
Nine months ending June 30, 2012 $ 129.3
Twelve months ending June 30, 2013 132.7
Twelve months ending June 30, 2014 102.2
Twelve months ending June 30, 2015 69.0
Twelve months ending June 30, 2016 53.0
Twelve months ending June 30, 2017 $ 40.7

Short-Term Financing
v4.2.117.0
Short-Term Financing
 3 Months Ended
Sep. 30, 2011
Short-Term Financing [Abstract]  
Short-Term Financing

Note 10. Short-term Financing

The Company has a $2.0 billion, 364-day credit agreement with a group of lenders that matures in June 2012. In addition, the Company has a four-year $3.25 billion credit facility maturing in June 2015 that contains an accordion feature under which the aggregate commitment can be increased by $500.0 million, subject to the availability of additional commitments. The Company also has an existing $1.5 billion three-year credit facility that matures in June 2013 that also contains an accordion feature under which the aggregate commitment can be increased by $500.0 million, subject to the availability of additional commitments. The interest rate applicable to committed borrowings is tied to LIBOR, the federal funds effective rate or the prime rate depending on the notification provided by the Company to the syndicated financial institutions prior to borrowing. The Company is also required to pay facility fees on the credit agreements. The primary uses of the credit facilities are to provide liquidity to the commercial paper program and funding for general corporate purposes, if necessary. The Company had no borrowings through September 30, 2011 under the credit agreements.

The Company's U.S. short-term funding requirements related to client funds are sometimes obtained through a short-term commercial paper program, which provides for the issuance of up to $6.75 billion in aggregate maturity value of commercial paper. The Company's commercial paper program is rated A-1+ by Standard and Poor's and Prime-1 by Moody's. These ratings denote the highest quality commercial paper securities. Maturities of commercial paper can range from overnight to up to 364 days. At September 30, 2011 and June 30, 2011, the Company had no commercial paper outstanding. For the three months ended September 30, 2011 and 2010, the Company's average borrowings were $3.0 billion and $2.2 billion, respectively, at weighted average interest rates of 0.1% and 0.2%, respectively. The weighted average maturity of the Company's commercial paper during the three months ended September 30, 2011 approximated two days.

The Company's U.S. and Canadian short-term funding requirements related to client funds obligations are sometimes obtained on a secured basis through the use of reverse repurchase agreements. These agreements are collateralized principally by government and government agency securities. These agreements generally have terms ranging from overnight to up to five business days. The Company has $2.0 billion available to it on a committed basis under these reverse repurchase agreements. At September 30, 2011 and June 30, 2011, there were no outstanding obligations under reverse repurchase agreements. For the three months ended September 30, 2011 and 2010, the Company had average outstanding balances under reverse repurchase agreements of $496.8 million and $608.9 million, respectively, at weighted average interest rates of 0.5% and 0.4%, respectively.

Short-Term Financing (Details)
v4.2.117.0
Short-Term Financing (Details) (USD $)
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Jun. 30, 2011
Short-term Debt [Line Items]      
Maturities of commercial paper range overnight to up to 364 days    
Issuance Of Debt [Member]
      
Short-term Debt [Line Items]      
Aggregate amount of commercial paper issuable under the short-term commercial paper program $ 6,750,000,000    
Short-Term Commercial Paper Program [Member]
      
Short-term Debt [Line Items]      
Average outstanding borrowings 3,000,000,000 2,200,000,000  
Weighted average interest rate 0.10% 0.20%  
Outstanding borrowings 0   0
Weighted average maturity of borrowings under the short-term commercial paper program two days    
364-Day Credit Agreement [Member]
      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities 2,000,000,000    
Expiration date of credit facilities June 2012    
Credit Facility Expiring In June 2015 [Member]
      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities 3,250,000,000    
Expiration date of credit facilities June 2015    
Line of credit facility potentially available increase in maximum borrowing capacity 500,000,000    
Credit Facility Expiring In June 2013 [Member]
      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities 1,500,000,000    
Expiration date of credit facilities June 2013    
Line of credit facility potentially available increase in maximum borrowing capacity 500,000,000    
Reverse Repurchase Agreements [Member]
      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities 2,000,000,000    
Average outstanding borrowings 496,800,000 608,900,000  
Weighted average interest rate 0.50% 0.40%  
Outstanding borrowings $ 0   $ 0

Debt
v4.2.117.0
Debt
 3 Months Ended
Sep. 30, 2011
Debt [Abstract]  
Debt

Note 11. Debt

Components of long-term debt are as follows:

September 30,

June 30,

2011

2011

Industrial revenue bonds

$

21.6

$

21.6

Secured financing

14.9

15.4

36.5

37.0

Less: current portion

(10.5

)

(2.8

)

$

26.0

$

34.2

 

The fair value of the industrial revenue bonds and other debt, included above, approximates carrying value.

Debt (Tables)
v4.2.117.0
Debt (Tables)
 3 Months Ended
Sep. 30, 2011
Debt [Abstract]  
Components Of Long-Term Debt

September 30,

June 30,

2011

2011

Industrial revenue bonds

$

21.6

$

21.6

Secured financing

14.9

15.4

36.5

37.0

Less: current portion

(10.5

)

(2.8

)

$

26.0

$

34.2


Debt (Components Of Long-Term Debt) (Details)
v4.2.117.0
Debt (Components Of Long-Term Debt) (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Debt [Abstract]    
Industrial revenue bonds $ 21.6 $ 21.6
Secured financing 14.9 15.4
Long-term debt, total 36.5 37.0
Less: current portion (10.5) (2.8)
Long-term debt $ 26.0 $ 34.2

Employee Benefit Plans
v4.2.117.0
Employee Benefit Plans
 3 Months Ended
Sep. 30, 2011
Employee Benefit Plans [Abstract]  
Employee Benefit Plans

Note 12. Employee Benefit Plans

A. Stock Plans. The Company recognizes stock-based compensation expense in net earnings based on the fair value of the award on the date of grant. Stock-based compensation consists of the following:

  • Stock Options. Stock options are granted to employees at exercise prices equal to the fair market value of the Company's common stock on the dates of grant. Stock options are issued under a grade vesting schedule. Options granted prior to July 1, 2008 generally vest ratably over five years and have a term of 10 years. Options granted after July 1, 2008 generally vest ratably over four years and have a term of 10 years. Compensation expense for stock options is recognized over the requisite service period for each separately vesting portion of the stock option award.
  • Employee Stock Purchase Plan.
    The Company offers an employee stock purchase plan that allows eligible employees to purchase shares of common stock at a price equal to 95% of the market value for the Company's common stock on the last day of the offering period. This plan has been deemed non- compensatory and therefore, no compensation expense has been recorded.
  • Restricted Stock.
  • Time-Based Restricted Stock. The Company has issued time-based restricted stock to certain key employees. These shares are restricted as to transfer and in certain circumstances must be returned to the Company at the original purchase price. The Company records stock compensation expense relating to the issuance of restricted stock based on market prices on the date of grant on a straight-line basis over the period in which the transfer restrictions exist, which is up to five years from the date of grant.
  • Performance-Based Restricted Stock. The performance-based restricted stock program has a one-year performance period, and a subsequent six-month service period. Under this program, the Company communicates "target awards" to employees at the beginning of the performance period and, as such, dividends are not paid in respect of the "target awards" during the performance period. After the performance period, if the performance targets are achieved, associates are eligible to receive dividends on shares awarded under the program. The performance target is based on earnings per share growth over the performance period, with possible payouts ranging from 0% to 150% of the "target awards." Stock-based compensation expense is measured based upon the fair value of the award on the grant date. Compensation expense is recognized on a straight-line basis over the vesting period of approximately 18 months, based upon the probability that the performance target will be met.

The Company currently utilizes treasury stock to satisfy stock option exercises, issuances under the Company's employee stock purchase plan and restricted stock awards. From time to time, the Company may repurchase shares of its common stock under its authorized share repurchase programs. The Company has repurchased 5.3 million shares in the three months ended September 30, 2011 as compared to 1.2 million shares repurchased in the three months ended September 30, 2010. The Company considers several factors in determining when to execute share repurchases, including, among other things, actual and potential acquisition activity, cash balances and cash flows, issuances due to employee benefit plan activity, and market conditions.

Stock-based compensation expense of $18.6 million and $13.9 million was recognized in earnings for the three months ended September 30, 2011 and 2010, respectively, as well as related tax benefits of $6.9 million and $5.2 million, respectively.

         
    Three Months Ended
    September 30,
    2011   2010
 
Operating expenses $ 3.1 $ 2.0
Selling, general and administrative expenses   12.7   9.7
System development and programming costs   2.8   2.2
Total pretax stock-based compensation expense $ 18.6 $ 13.9

 

As of September 30, 2011, the total remaining unrecognized compensation cost related to non-vested stock options and restricted stock awards amounted to $7.9 million and $94.9 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 1.3 years and 1.5 years, respectively.

During the three months ended September 30, 2011, the following activity occurred under our existing plans:

 

 

 

 

 

Stock Options: 

 

 

 

 

 

 

Number

 

 

Weighted

 

of Options

 

 

Average Price

 

(in thousands)

 

 

(in dollars)

 

Options outstanding at

 

 

 

 

July 1, 2011

21,714

 

$

40

Options granted

200

 

$

47

Options exercised

(1,005

)

$

51

Options canceled

(57

)

$

39

 

Options outstanding at

 

 

 

 

September 30, 2011

20,852

 

$

40


 

Performance-Based Restricted Stock: 

     

 

 

Number

 

 

of Shares

 

 

(in thousands)

 

 

Restricted shares outstanding

 

 

at July 1, 2011

1,351

 

Restricted shares granted

1,770

 

Restricted shares vested

-

 

Restricted shares forfeited

(12

)

 

Restricted shares outstanding

 

 

at September 30, 2011

3,109

 

 

Time-Based Restricted Stock:

     

Number

of Shares

(in thousands)

Restricted shares outstanding,

at July 1, 2011

493

Restricted shares granted

2

Restricted shares vested

(37

)

Restricted shares forfeited

-

Restricted shares outstanding,

at September 30, 2011

458

The fair value of each stock option issued is estimated on the date of grant using a binomial option pricing model. The binomial model considers a range of assumptions related to volatility, risk-free interest rate and employee exercise behavior. Expected volatilities utilized in the binomial model are based on a combination of implied market volatilities, historical volatility of the Company's stock price and other factors. Similarly, the dividend yield is based on historical experience and expected future changes.

The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of the stock option grant is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.

The fair value for stock options granted was estimated at the date of grant using the following assumptions:

             
    Three Months Ended  
    September 30,  
    2011     2010  
Risk-free interest rate   1.0 %   1.6 %
Dividend yield   3.1 %   3.3 %
Weighted average volatility factor   24.9 %   24.9 %
Weighted average expected life (in years)   5.2     5.1  
Weighted average fair value (in dollars) $ 6.99   $ 6.37  

 


B. Pension Plans

The components of net pension expense were as follows:

             
    Three months ended    
    September 30,    
    2011   2010  
Service cost – benefits earned during the period $ 14.3   $ 13.1  
Interest cost on projected benefits   15.5     14.0  
Expected return on plan assets   (24.4 )   (22.1 )
Amortization of losses   3.8     5.1  
Net pension expense $ 9.2   $ 10.1  

 

During the three months ended September 30, 2011, the Company contributed $77.0 million to the pension plans and expects to contribute approximately $7.0 million during the remainder of the fiscal year ended June 30, 2012.

Employee Benefit Plans (Tables)
v4.2.117.0
Employee Benefit Plans (Tables)
 3 Months Ended
Sep. 30, 2011
Employee Benefit Plans [Abstract]  
Components Of Stock-Based Compensation Expense
         
    Three Months Ended
    September 30,
    2011   2010
 
Operating expenses $ 3.1 $ 2.0
Selling, general and administrative expenses   12.7   9.7
System development and programming costs   2.8   2.2
Total pretax stock-based compensation expense $ 18.6 $ 13.9
Changes In Stock Options Outstanding

 

 

Number

 

 

Weighted

 

of Options

 

 

Average Price

 

(in thousands)

 

 

(in dollars)

 

Options outstanding at

 

 

 

 

July 1, 2011

21,714

 

$

40

Options granted

200

 

$

47

Options exercised

(1,005

)

$

51

Options canceled

(57

)

$

39

 

Options outstanding at

 

 

 

 

September 30, 2011

20,852

 

$

40

Changes In Performance-Based Restricted Stock
     

 

 

Number

 

 

of Shares

 

 

(in thousands)

 

 

Restricted shares outstanding

 

 

at July 1, 2011

1,351

 

Restricted shares granted

1,770

 

Restricted shares vested

-

 

Restricted shares forfeited

(12

)

 

Restricted shares outstanding

 

 

at September 30, 2011

3,109

 

 
Changes In Time-Based Restricted Stock
     

Number

of Shares

(in thousands)

Restricted shares outstanding,

at July 1, 2011

493

Restricted shares granted

2

Restricted shares vested

(37

)

Restricted shares forfeited

-

Restricted shares outstanding,

at September 30, 2011

458

Assumptions Used To Estimate Fair Value For Stock Options Granted
             
    Three Months Ended  
    September 30,  
    2011     2010  
Risk-free interest rate   1.0 %   1.6 %
Dividend yield   3.1 %   3.3 %
Weighted average volatility factor   24.9 %   24.9 %
Weighted average expected life (in years)   5.2     5.1  
Weighted average fair value (in dollars) $ 6.99   $ 6.37  
Schedule Of Net Periodic Benefit Cost
             
    Three months ended    
    September 30,    
    2011   2010  
Service cost – benefits earned during the period $ 14.3   $ 13.1  
Interest cost on projected benefits   15.5     14.0  
Expected return on plan assets   (24.4 )   (22.1 )
Amortization of losses   3.8     5.1  
Net pension expense $ 9.2   $ 10.1  

Employee Benefit Plans (Narrative) (Details)
v4.2.117.0
Employee Benefit Plans (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Purchase price of common stock as percentage of market value 95.00%  
Minimum percentage that will ultimately vest under performance-based restricted stock awards based on performance target 0.00%  
Maximum percentage that will ultimately vest under performance-based restricted stock awards based on performance target 150.00%  
Shares repurchased 5.3 1.2
Vesting term of performance-based restricted stock approximately 18 months  
Total stock-based compensation $ 18.6 $ 13.9
Total stock-based compensation - related tax benefits 6.9 5.2
Compensation expense recognition Compensation expense is recognized on a straight-line basis over the vesting period  
Employer contributions 77.0  
Expected future employer contribution 7.0  
Stock Options Granted Prior To July 2008 [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock options - term in years for stock options granted prior to July 1, 2008 10  
Length of vesting rate for options granted prior to July 1, 2008 (in years) five  
Stock options - term in years for stock options granted after July 1, 2008 10  
Stock Options Granted After July 2008 [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock options - term in years for stock options granted prior to July 1, 2008 10  
Stock options - term in years for stock options granted after July 1, 2008 10  
Length of vesting rate for options granted after July 1, 2008 (in years) four  
Non-Vested Stock Options [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Total remaining unrecognized compensation cost 7.9  
Amortization period for total remaining unrecognized compensation cost (in years) 1.3  
Non-Vested Restricted Stock [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Total remaining unrecognized compensation cost $ 94.9  
Amortization period for total remaining unrecognized compensation cost (in years) 1.5  

Employee Benefit Plans (Components Of Stock-Based Compensation Expense) (Details)
v4.2.117.0
Employee Benefit Plans (Components Of Stock-Based Compensation Expense) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Defined Benefit Plan Disclosure [Line Items]    
Total pretax stock-based compensation expense $ 18.6 $ 13.9
Operating Expenses [Member]
    
Defined Benefit Plan Disclosure [Line Items]    
Stock-based compensation expense 3.1 2.0
Selling, General And Administrative Expenses [Member]
    
Defined Benefit Plan Disclosure [Line Items]    
Stock-based compensation expense 12.7 9.7
System Development And Programming Costs [Member]
    
Defined Benefit Plan Disclosure [Line Items]    
Stock-based compensation expense $ 2.8 $ 2.2

Employee Benefit Plans (Changes In Stock Options Outstanding) (Details)
v4.2.117.0
Employee Benefit Plans (Changes In Stock Options Outstanding) (Details) (USD $)
In Thousands, except Per Share data
 3 Months Ended
Sep. 30, 2011
Employee Benefit Plans [Abstract]  
Options outstanding at July 1, 2011 21,714
Granted, options 200
Exercised, options (1,005)
Canceled, options (57)
Options outstanding at September 30, 2011 20,852
Outstanding at July 1, 2011, weighted average price $ 40
Granted, weighted average price $ 47
Exercised, weighted average price $ 51
Canceled, weighted average price $ 39
Outstanding at September 30, 2011, weighted average price $ 40

Employee Benefit Plans (Changes In Performance-Based Restricted Stock) (Details)
v4.2.117.0
Employee Benefit Plans (Changes In Performance-Based Restricted Stock) (Details) (Performance-Based Restricted Stock [Member])
In Thousands
 3 Months Ended
Sep. 30, 2011
Performance-Based Restricted Stock [Member]
  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]  
Restricted shares outstanding, at July 1, 2011 1,351
Restricted shares granted 1,770
Restricted shares forfeited (12)
Restricted shares outstanding, at September 30, 2011 3,109

Employee Benefit Plans (Changes In Time-Based Restricted Stock) (Details)
v4.2.117.0
Employee Benefit Plans (Changes In Time-Based Restricted Stock) (Details) (Time-Based Restricted Stock [Member])
In Thousands
 3 Months Ended
Sep. 30, 2011
Time-Based Restricted Stock [Member]
  
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]  
Restricted shares outstanding, at July 1, 2011 493
Restricted shares granted 2
Restricted shares vested (37)
Restricted shares outstanding, at September 30, 2011 458

Employee Benefit Plans (Assumptions Used To Estimate Fair Value For Stock Options Granted) (Details)
v4.2.117.0
Employee Benefit Plans (Assumptions Used To Estimate Fair Value For Stock Options Granted) (Details) (USD $)
 3 Months Ended
Sep. 30, 2011
years
Sep. 30, 2010
years
Employee Benefit Plans [Abstract]    
Risk-free interest rate 1.00% 1.60%
Dividend yield 3.10% 3.30%
Weighted average volatility factor 24.90% 24.90%
Weighted average expected life (in years) 5.2 5.1
Weighted average fair value (in dollars) $ 6.99 $ 6.37

Employee Benefit Plans (Schedule Of Net Periodic Benefit Cost) (Details)
v4.2.117.0
Employee Benefit Plans (Schedule Of Net Periodic Benefit Cost) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Employee Benefit Plans [Abstract]    
Service cost - benefits earned during the period $ 14.3 $ 13.1
Interest cost on projected benefits 15.5 14.0
Expected return on plan assets (24.4) (22.1)
Amortization of losses 3.8 5.1
Net pension expense $ 9.2 $ 10.1

Income Taxes
v4.2.117.0
Income Taxes
 3 Months Ended
Sep. 30, 2011
Income Taxes [Abstract]  
Income Taxes

Note 13. Income Taxes

The effective tax rate for the three months ended September 30, 2011 and 2010 was 34.1% and 36.2%, respectively. The decrease in the effective tax rate of 2.1% is related to the expiration of certain statute of limitations, the final resolution of certain tax matters, and a favorable mix of earnings between jurisdictions.

Income Taxes (Details)
v4.2.117.0
Income Taxes (Details)
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Income Taxes [Abstract]    
Effective tax rate 34.10% 36.20%
Decrease in effective tax rate due to expiration of statue of limitations 2.10%  

Commitments And Contingencies
v4.2.117.0
Commitments And Contingencies
 3 Months Ended
Sep. 30, 2011
Commitments And Contingencies [Abstract]  
Commitments And Contingencies

Note 14. Commitments and Contingencies

In September 2010, a purported class action lawsuit was filed against the Company in the Superior Court of the State of California, County of Los Angeles. The lawsuit was subsequently removed to the United States District Court, Central District of California, Western Division. The complaint alleges that the Company unlawfully handled certain client calls and seeks statutory damages. The services at issue were performed by an independent third-party vendor, and the Company believes that it has the contractual right to full indemnification from this vendor for any potential losses it might incur with respect to the matter. In April 2011, the Company and the third-party vendor entered into a class action settlement agreement with the plaintiff to settle the matter subject to court approval. As part of the settlement, the Company was to be dismissed from the action, and the third-party vendor will pay all settlement amounts. The third-party vendor is also paying all of the Company's legal fees and costs associated with the defense of the matter. The Company was dismissed from the action on May 2, 2011. On July 20, 2011 the court granted preliminary approval to the class action settlement and provisionally certified the settlement class. A hearing on final approval is scheduled for November 28, 2011.

On July 18, 2011, athenahealth, Inc. filed a complaint against ADP AdvancedMD, Inc., a subsidiary of the Company. The complaint alleges that ADP AdvancedMD's activities in providing medical practice management and billing and revenue management software and associated services to physicians and medical practice managers infringe two patents owned by athenahealth, Inc. The complaint seeks monetary damages, injunctive relief, and costs. The Company has responded to the complaint, continues to investigate the merits of the claims, and intends to vigorously defend itself.

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

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

It is not the Company's business practice to enter into off-balance sheet arrangements. However, the Company is exposed to market risk from changes in foreign currency exchange rates that could impact its financial position, results of operations and cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company uses derivative financial instruments as risk management tools and not for trading purposes. In the normal course of business, the Company also enters into contracts in which it makes representations and warranties that relate to the performance of the Company's services and products. The Company does not expect any material losses related to such representations and warranties.

The Company has obligations under various facilities and equipment leases and software license agreements that were disclosed in its Annual Report on Form 10-K for the year ended June 30, 2011.

Foreign Currency Risk Management Programs
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Foreign Currency Risk Management Programs
 3 Months Ended
Sep. 30, 2011
Foreign Currency Risk Management Programs [Abstract]  
Foreign Currency Risk Management Programs

Note 15. Foreign Currency Risk Management Programs

The Company is exposed to market risk from changes in foreign currency exchange rates that could impact its consolidated results of operations, financial position or cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company does not use derivative financial instruments for trading purposes.

The Company had no derivative financial instruments outstanding at September 30, 2011 or June 30, 2011.

Foreign Currency Risk Management Programs (Details)
v4.2.117.0
Foreign Currency Risk Management Programs (Details) (USD $)
In Millions
Sep. 30, 2011
Jun. 30, 2011
Foreign Currency Risk Management Programs [Abstract]    
Derivative financial instruments outstanding $ 0 $ 0

Comprehensive Income
v4.2.117.0
Comprehensive Income
 3 Months Ended
Sep. 30, 2011
Comprehensive Income [Abstract]  
Comprehensive Income
Note 16. Comprehensive Income            
             
    Three Months Ended  
    September 30,  
    2011     2010  
Net earnings $ 302.7   $ 278.5  
Other comprehensive income:            
Currency translation adjustments   (75.3 )   79.7  
Unrealized gain on available-for-sale            
securities, net of tax   112.3     93.7  
Pension liability adjustment, net of tax   2.4     (0.4 )
Comprehensive income $ 342.1   $ 451.5  

Comprehensive Income (Tables)
v4.2.117.0
Comprehensive Income (Tables)
 3 Months Ended
Sep. 30, 2011
Comprehensive Income [Abstract]  
Comprehensive Income
             
    Three Months Ended  
    September 30,  
    2011     2010  
Net earnings $ 302.7   $ 278.5  
Other comprehensive income:            
Currency translation adjustments   (75.3 )   79.7  
Unrealized gain on available-for-sale            
securities, net of tax   112.3     93.7  
Pension liability adjustment, net of tax   2.4     (0.4 )
Comprehensive income $ 342.1   $ 451.5  

Comprehensive Income (Comprehensive Income) (Details)
v4.2.117.0
Comprehensive Income (Comprehensive Income) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Comprehensive Income [Abstract]    
Net earnings $ 302.7 $ 278.5
Currency translation adjustments (75.3) 79.7
Unrealized gain on available-for-sale securities, net of tax 112.3 93.7
Pension liability adjustment, net of tax 2.4 (0.4)
Comprehensive income $ 342.1 $ 451.5

Interim Financial Data By Segment
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Interim Financial Data By Segment
 3 Months Ended
Sep. 30, 2011
Interim Financial Data By Segment [Abstract]  
Interim Financial Data By Segment

Note 17. Interim Financial Data by Segment

Based upon similar economic characteristics and operational characteristics, the Company's strategic business units have been aggregated into the following three reportable segments: Employer Services, PEO Services, and Dealer Services. The primary components of the "Other" segment are miscellaneous processing services, such as customer financing transactions, non-recurring gains and losses, results of operations of ADP Indemnity (a wholly-owned captive insurance company that provides workers' compensation and employer's liability deductible reimbursement insurance protection for PEO Services worksite employees) and certain expenses that have not been charged to the reportable segments, such as stock-based compensation expense. Certain revenues and expenses are charged to the reportable segments at a standard rate for management reasons. Other costs are recorded based on management responsibility. The prior year reportable segments' revenues and earnings before income taxes have been adjusted to reflect updated fiscal 2012 budgeted foreign exchange rates. In addition, there is a reconciling item for the difference between actual interest income earned on invested funds held for clients and interest credited to Employer Services and PEO Services at a standard rate of 4.5%. The reportable segments' results also include an internal cost of capital charge related to the funding of acquisitions and other investments. All of these adjustments/charges are reconciling items to our reportable segments' revenues and/or earnings before income taxes and results in the elimination of these adjustments/charges in consolidation.

Segment Results:                        
                Earnings    
    Revenues       before Income Taxes  
    Three Months Ended     Three Months Ended  
    September 30,     September 30,  
    2011     2010     2011     2010  
 
Employer Services $ 1,750.4   $ 1,599.3   $ 410.0   $ 382.4  
PEO Services   400.5     341.3     36.6     28.0  
Dealer Services   407.9     346.2     63.1     49.6  
Other   2.8     3.3     (33.1 )   (18.3 )
Reconciling items:                        
Foreign exchange   9.7     (32.6 )   0.7     (3.2 )
Client fund interest   (48.8 )   (28.1 )   (48.8 )   (28.1 )
Cost of capital charge   -     -     30.8     26.0  
Total $ 2,522.5   $ 2,229.4   $ 459.3   $ 436.4  

Interim Financial Data By Segment (Tables)
v4.2.117.0
Interim Financial Data By Segment (Tables)
 3 Months Ended
Sep. 30, 2011
Interim Financial Data By Segment [Abstract]  
Financial Data By Strategic Business Unit Segment
Segment Results:                        
                Earnings    
    Revenues       before Income Taxes  
    Three Months Ended     Three Months Ended  
    September 30,     September 30,  
    2011     2010     2011     2010  
 
Employer Services $ 1,750.4   $ 1,599.3   $ 410.0   $ 382.4  
PEO Services   400.5     341.3     36.6     28.0  
Dealer Services   407.9     346.2     63.1     49.6  
Other   2.8     3.3     (33.1 )   (18.3 )
Reconciling items:                        
Foreign exchange   9.7     (32.6 )   0.7     (3.2 )
Client fund interest   (48.8 )   (28.1 )   (48.8 )   (28.1 )
Cost of capital charge   -     -     30.8     26.0  
Total $ 2,522.5   $ 2,229.4   $ 459.3   $ 436.4  

Interim Financial Data By Segment (Narrative) (Details)
v4.2.117.0
Interim Financial Data By Segment (Narrative) (Details)
 3 Months Ended
Sep. 30, 2011
Interim Financial Data By Segment [Abstract]  
Standard reconciling rate between actual interest income earned and interest credited 4.50%

Interim Financial Data By Segment (Financial Data By Strategic Business Unit Segment) (Details)
v4.2.117.0
Interim Financial Data By Segment (Financial Data By Strategic Business Unit Segment) (Details) (USD $)
In Millions
 3 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Segment Reporting Information [Line Items]    
Revenues $ 2,522.5 $ 2,229.4
Earnings before Income Taxes 459.3 436.4
Employer Services Segment [Member]
    
Segment Reporting Information [Line Items]    
Revenues 1,750.4 1,599.3
Earnings before Income Taxes 410.0 382.4
Professional Employee Organization Services Segment [Member]
    
Segment Reporting Information [Line Items]    
Revenues 400.5 341.3
Earnings before Income Taxes 36.6 28.0
Dealer Services Segment [Member]
    
Segment Reporting Information [Line Items]    
Revenues 407.9 346.2
Earnings before Income Taxes 63.1 49.6
Other Reportable Segment [Member]
    
Segment Reporting Information [Line Items]    
Revenues 2.8 3.3
Earnings before Income Taxes (33.1) (18.3)
Foreign Exchange Reconciling Item [Member]
    
Segment Reporting Information [Line Items]    
Revenues 9.7 (32.6)
Earnings before Income Taxes 0.7 (3.2)
Client Fund Interest Reconciling Item [Member]
    
Segment Reporting Information [Line Items]    
Revenues (48.8) (28.1)
Earnings before Income Taxes (48.8) (28.1)
Cost Of Capital Charge Reconciling Item [Member]
    
Segment Reporting Information [Line Items]    
Earnings before Income Taxes 30.8 26.0
Total Revenue And Earnings Before Income Taxes [Member]
    
Segment Reporting Information [Line Items]    
Revenues 2,522.5 2,229.4
Earnings before Income Taxes $ 459.3 $ 436.4