Automatic Data Processing, Inc. and Subsidiaries
(In thousands, except per share amounts)
Year ended June 30, 1995 1994 1993 1992 1991
Revenue $2,893,742 $2,468,966 $2,223,374 $1,940,571 $1,771,751
Cost of operations 2,335,122 2,001,796 1,816,995 1,586,725 1,463,952
Interest expense 24,340 20,840 19,819 12,266 8,169
2,359,462 2,022,636 1,836,814 1,598,991 1,472,121
Earnings before income taxes
and cumulative effect of
accounting changes 534,280 446,330 386,560 341,580 299,630
Provision for income taxes 139,450 112,210 92,360 85,400 71,940
Net earnings before cumulative
effect of accounting changes 394,830 334,120 294,200 256,180 227,690
Cumulative effect of
accounting changes -- (4,800) -- -- --
Net earnings $394,830 $329,320 $294,200 $256,180 $227,690
Earnings per share:
Before cumulative effect of
accounting changes $2.77 $2.37 $2.08 $1.84 $1.63
Cumulative effect of
accounting changes -- (.03) -- -- --
Net earnings $2.77 $2.34 $2.08 $1.84 $1.63
Average number of common
shares outstanding 142,556 140,890 141,327 139,045 139,936
Cash dividends per share $.625 $.54 $.475 $.415 $.3625
Return on equity (a) 20.9% 21.0% 20.9% 22.1% 21.9%
At year end:
Cash, cash equivalents and
marketable securities $1,291,889 $1,062,190 $886,452 $741,357 $432,141
Working capital $667,920 $507,243 $355,047 $366,752 $299,488
Total assets $3,201,096 $2,711,751 $2,439,400 $2,169,300 $1,564,930
Long-term debt $390,177 $372,959 $347,583 $333,192 $49,052
Shareholders' equity $2,096,615 $1,691,251 $1,494,456 $1,296,728 $1,052,620
(a) Before cumulative effect of accounting changes in 1994 (see Note
1B.). See notes to consolidated financial statements.