Paychex, Inc. (PAYX) financial statements (2021 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)

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 932713424323352537
Cash and cash equivalents 905674358185132170
Short-term investments 273966139221367
Restricted cash and investments 5051    
Receivables 790854564543445215
Prepaid expense 172317451113
Funds held for clients 3,4313,8044,7044,3023,9984,273
Other undisclosed current assets 24523476585966
Total current assets: 5,4655,6785,7845,2724,8645,103
Noncurrent Assets
Operating lease, right-of-use asset 115
Property, plant and equipment 407409394337353354
Long-term investments and receivables   296454441400
Long-term investments   296454441400
Intangible assets, net (including goodwill) 2,1222,182955715727594
Goodwill 1,7911,783814657657562
Intangible assets, net (excluding goodwill) 331399141587032
Capitalized contract cost, net 373366
Restricted cash and investments 217    
Other noncurrent assets 382535313232
Other undisclosed noncurrent assets 1010 2525 
Total noncurrent assets: 3,0862,9981,6791,5621,5771,379
TOTAL ASSETS: 8,5518,6767,4646,8346,4416,483
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 262222395338305262
Accounts payable 797675575752
Employee-related liabilities 132146321281248210
Taxes payable 51     
Deferred revenue 39
Debt 42     
Deferred revenue and credits242326 
Contract with customer, liability40
Other liabilities 278220133928051
Other undisclosed current liabilities 3,8064,3634,7354,2733,9554,260
Total current liabilities: 4,4274,8455,2874,7254,3664,573
Noncurrent Liabilities
Long-term debt and lease obligation 894796    
Long-term debt, excluding current maturities 797796    
Operating lease, liability 97
Liabilities, other than long-term debt 449415152153163168
Accounts payable and accrued liabilities 342718467360
Deferred tax liabilities, net22349342217
Deferred income tax liabilities 241
Liability for uncertainty in income taxes      29
Other liabilities 17416585746862
Other undisclosed noncurrent liabilities      (44)
Total noncurrent liabilities: 1,3421,212152153163124
Total liabilities: 5,7696,0575,4394,8784,5294,697
Stockholders' equity
Stockholders' equity attributable to parent 2,7812,6202,0251,9551,9121,786
Common stock 444444
Additional paid in capital 1,2901,2061,1271,030953880
Accumulated other comprehensive income (loss) 570(36)20298
Retained earnings 1,4311,410930902926894
Total stockholders' equity: 2,7812,6202,0251,9551,9121,786
TOTAL LIABILITIES AND EQUITY: 8,5518,6767,4646,8346,4416,483

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

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Revenues 4,0413,7733,3813,1512,9522,740
Revenue, net3,3173,1012,9062,698
Cost of revenue (1,281) (7,900)(5,900)(5,100)(4,200)
Cost of goods and services sold   (7,900)(5,900)(5,100)(4,200)
Gross profit: 2,7603,773(4,519)(2,749)(2,148)(1,460)
Operating expenses (1,299)(2,401)(2,093)(1,912)(1,805)(1,686)
Other undisclosed operating income   7,9005,9005,1004,200
Operating income: 1,4611,3711,2881,2401,1471,054
Nonoperating income 1513121088
Investment income, nonoperating 1213121088
Other nonoperating income 3     
Interest and debt expense (39)(18)(4)(3)(1)(1)
Income from continuing operations before equity method investments, income taxes: 1,4371,3671,2961,2471,1541,061
Income (loss) from equity method investments  11(2)(3)(1)
Income from continuing operations before income taxes: 1,4371,3681,2961,2451,1511,060
Income tax expense (339)(334)(362)(428)(394)(385)
Net income available to common stockholders, diluted: 1,0981,034934817757675

Comprehensive Income ($ in millions)

11/30/2020
TTM
5/31/2020
5/31/2019
5/31/2018
5/31/2017
5/31/2016
5/31/2015
Net income: 1,0981,034934817757675
Other comprehensive income      8
Comprehensive income: 1,0981,034934817757683
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 5636(56)(9)22(22)
Comprehensive income, net of tax, attributable to parent: 1,1551,071878808779661

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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