Paychex, Inc. (PAYX) financial statements (2020 and earlier)

Company profile

Business Address 911 PANORAMA TRAIL S
ROCHESTER, NY 14625-0397
State of Incorp. DE
Fiscal Year End May 31
SIC 87 - Engineering, Accounting, Research, Management, And Related Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

2/29/2020
TTM
11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments854635713424323352537
Cash and cash equivalents780601674358185132170
Short-term investments74343966139221367
Restricted cash and investments595351    
Receivables847906854564543445215
Prepaid expense24592317451113
Funds held for clients4,3563,7353,8044,7044,3023,9984,273
Other undisclosed current assets25024123476585966
Total current assets:6,3895,6285,6785,7845,2724,8645,103
Noncurrent Assets
Operating lease, right-of-use asset124119
Property, plant and equipment404402409394337353354
Long-term investments and receivables   296454441400
Long-term investments   296454441400
Intangible assets, net (including goodwill)2,1382,1462,182955715727594
Goodwill1,7901,7861,783814657657562
Intangible assets, net (excluding goodwill)348360399141587032
Capitalized contract cost, net367360366
Restricted cash and investments7107    
Other noncurrent assets28282535313232
Other undisclosed noncurrent assets101010 2525 
Total noncurrent assets:3,0783,0742,9981,6791,5621,5771,379
TOTAL ASSETS:9,4678,7028,6767,4646,8346,4416,483
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities183198222395338305262
Accounts payable68767675575752
Employee-related liabilities115122146321281248210
Deferred revenue3942
Debt8989     
Deferred revenue and credits242326 
Contract with customer, liability40
Other liabilities277268220133928051
Other undisclosed current liabilities4,8024,2274,3634,7354,2733,9554,260
Total current liabilities:5,3904,8244,8455,2874,7254,3664,573
Noncurrent Liabilities
Long-term debt and lease obligation902897796    
Long-term debt, excluding current maturities797797796    
Operating lease, liability105100
Liabilities, other than long-term debt416412415152153163168
Accounts payable and accrued liabilities33312718467360
Deferred tax liabilities, net22349342217
Deferred income tax liabilities233227
Liability for uncertainty in income taxes      29
Other liabilities15015416585746862
Other undisclosed noncurrent liabilities      (44)
Total noncurrent liabilities:1,3171,3081,212152153163124
Total liabilities:6,7076,1326,0575,4394,8784,5294,697
Stockholders' equity
Stockholders' equity attributable to parent2,7602,5692,6202,0251,9551,9121,786
Common stock4444444
Additional paid in capital1,2781,2531,2061,1271,030953880
Accumulated other comprehensive income (loss)45120(36)20298
Retained earnings1,4331,3011,410930902926894
Total stockholders' equity:2,7602,5692,6202,0251,9551,9121,786
TOTAL LIABILITIES AND EQUITY:9,4678,7028,6767,4646,8346,4416,483

Income statement (P&L) ($ in millions)

2/29/2020
TTM
11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Revenues4,1064,0343,7733,3813,1512,9522,740
Revenue, net3,3173,1012,9062,698
Cost of revenue
(Cost of Goods and Services Sold)
   (7,900)(5,900)(5,100)(4,200)
Gross profit:4,1064,0343,773(4,519)(2,749)(2,148)(1,460)
Operating expenses(2,630)(2,599)(2,401)(2,093)(1,912)(1,805)(1,686)
Other undisclosed operating income   7,9005,9005,1004,200
Operating income:1,4751,4351,3711,2881,2401,1471,054
Nonoperating income181713121088
Investment income, nonoperating151513121088
Interest and debt expense(39)(36)(18)(4)(3)(1)(1)
Income from continuing operations before equity method investments, income taxes:1,4541,4161,3671,2961,2471,1541,061
Income (loss) from equity method investments (0)11(2)(3)(1)
Other undisclosed income from continuing operations before income taxes22     
Income from continuing operations before income taxes:1,4561,4171,3681,2961,2451,1511,060
Income tax expense(348)(340)(334)(362)(428)(394)(385)
Net income available to common stockholders, diluted:1,1081,0781,034934817757675

Comprehensive Income ($ in millions)

2/29/2020
TTM
11/30/2019
TTM
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Net income:1,1081,0781,034934817757675
Other comprehensive income      8
Comprehensive income:1,1081,0781,034934817757683
Other undisclosed comprehensive income (loss), net of tax, attributable to parent655936(56)(9)22(22)
Comprehensive income, net of tax, attributable to parent:1,1721,1371,071878808779661

Statements sources

The financial statements are based on the company's filings with the 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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