Automatic Data Processing, Inc. (ADP) Financial Statements (2023 and earlier)

Company Profile

Business Address ONE ADP BOULVARD
ROSELAND, NJ 07068
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 7374 - Computer Processing and Data Preparation and Processing Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

6/30/2023
12/31/2022
MRQ
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,3611,4832,5861,9091,9602,173
Cash and cash equivalents1,3451,4362,5751,9091,9492,170
Short-term investments164710 113
Restricted cash and investments      2,521
Receivables3,1623,1712,7272,4412,4391,984
Other current assets876629533506520758
Other undisclosed current assets40,74449,52234,89526,70829,42424,613
Total current assets:46,14454,80540,74231,56434,34232,050
Noncurrent Assets
Operating lease, right-of-use asset400451462494✕✕
Property, plant and equipment655653685704764794
Long-term investments and receivables8131353228526
Long-term investments 1222414261 
Accounts and financing receivable, after allowance for credit loss8912192426
Intangible assets, net (including goodwill)3,6813,6343,5493,5253,3953,130
Goodwill2,3152,3012,3382,3092,3232,244
Intangible assets, net (excluding goodwill)1,3661,3331,2101,2161,072886
Other noncurrent assets9919378264589341,090
Other undisclosed noncurrent assets2,5752,4582,4752,3882,167 
Total noncurrent assets:8,3098,2638,0317,6017,5455,039
TOTAL ASSETS:54,45363,06848,77339,16641,88837,089
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,4593,1193,0732,6802,6602,395
Taxes payable✕✕3858405544
Employee-related liabilities✕✕863910557721668
Accounts payable85110141102126135
Accrued liabilities2,3732,1081,9631,9811,7591,548
Deferred revenue177188204213✕✕
Debt1111,00233
Deferred revenue and credits✕✕✕✕✕✕227
Other undisclosed current liabilities44,17751,85034,81726,23329,96527,790
Total current liabilities:46,81455,15938,09530,12732,62830,414
Noncurrent Liabilities
Long-term debt and lease obligation2,9883,3583,3281,0032,0022,002
Long-term debt, excluding current maturities2,9882,9872,9851,0032,0022,002
Liabilities, other than long-term debt1,6651,3261,6792,1451,6011,213
Deferred revenue and credits✕✕✕✕✕✕378
Deferred revenue332335362371✕✕
Deferred tax liabilities, net✕✕✕✕✕660107
Deferred income tax liabilities6767483732✕✕
Liability, pension and other postretirement and postemployment benefits    206143 
Other liabilities932924834837799728
Operating lease, liability334371343 ✕✕
Other undisclosed noncurrent liabilities    139257 
Total noncurrent liabilities:4,6534,6845,0083,2873,8603,216
Total liabilities:51,46659,84343,10233,41336,48833,629
Equity
Equity, attributable to parent2,9873,2255,6705,7525,4003,460
Common stock646464646464
Treasury stock, value(17,914)(17,335)(15,387)(14,067)(13,091)(12,210)
Additional paid in capital1,9541,7941,5311,3341,1831,015
Accumulated other comprehensive income (loss)(2,451)(1,994)11(15)(257)(681)
Retained earnings21,33320,69619,45118,43617,50115,271
Total equity:2,9873,2255,6705,7525,4003,460
TOTAL LIABILITIES AND EQUITY:54,45363,06848,77339,16641,88837,089

Income Statement (P&L) ($ in millions)
Annual | Quarterly

6/30/2023
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Revenues17,24716,49815,00514,59014,17513,326
Revenue, net✕✕✕✕✕✕8,985
Cost of revenue(9,896)(9,544)(8,700)(8,552)(8,217)(7,945)
Cost of goods and services sold(9,742)(9,462)(8,640)(8,445)(8,087)(7,843)
Gross profit:7,3526,9556,3056,0385,9595,381
Operating expenses(3,388)(3,233)(3,041)(3,003)(3,064)(2,972)
Operating income:3,9643,7213,2653,0352,8952,409
Nonoperating income (expense)978396148111(238)
Investment income, nonoperating814137859886
Net periodic defined benefits expense (reversal of expense), excluding service cost component516259757✕
Interest and debt expense(153)(82)(60)(107)(130)(103)
Other undisclosed income from continuing operations before equity method investments, income taxes   60107130103
Income from continuing operations before equity method investments, income taxes:3,9083,7223,3613,1833,0062,171
Other undisclosed income from continuing operations before income taxes15382    
Income from continuing operations before income taxes:4,0613,8043,3613,1833,0062,171
Income tax expense(915)(855)(763)(716)(713)(550)
Income from continuing operations:3,1462,9492,5992,4672,2931,621
Income before gain (loss) on sale of properties:✕2,3332,9492,5992,4672,2931,621
Net income available to common stockholders, diluted:3,1462,9492,5992,4672,2931,621

Comprehensive Income ($ in millions)
Annual | Quarterly

6/30/2023
12/31/2022
TTM
6/30/2022
6/30/2021
6/30/2020
6/30/2019
6/30/2018
Net income:3,1462,9492,5992,4672,2931,621
Other comprehensive income (loss)(2,123)(2,004)25243423(259)
Comprehensive income, net of tax, attributable to parent:1,0249452,6242,7092,7151,362

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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