Paychex, Inc. (PAYX) financial statements (2022 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)

2/28/2022
TTM
11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2686361,032932713424323
Cash and cash equivalents268636995905674358185
Short-term investments  37273966139
Restricted cash and investments5653515051  
Receivables1,2051,3721,054790854564543
Prepaid expense42573417231745
Funds held for clients4,3043,8753,7503,4313,8044,7044,302
Other undisclosed current assets1,3646402492452347658
Total current assets:7,2376,6326,1705,4655,6785,7845,272
Noncurrent Assets
Operating lease, right-of-use asset8497103115
Property, plant and equipment400399396407409394337
Long-term investments and receivables     296454
Long-term investments     296454
Intangible assets, net (including goodwill)2,0672,0782,0972,1222,182955715
Goodwill1,8321,8321,8211,7911,783814657
Intangible assets, net (excluding goodwill)23524627633139914158
Capitalized contract cost, net414394384373366
Restricted cash and investments263037217  
Other noncurrent assets52513438253531
Other undisclosed noncurrent assets5771010 25
Total noncurrent assets:3,0463,0563,0583,0862,9981,6791,562
TOTAL ASSETS:10,2849,6889,2278,5518,6767,4646,834
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities289256299262222395338
Accounts payable111868979767557
Employee-related liabilities177170210132146321281
Taxes payable   51   
Deferred revenue37403839
Debt99742   
Deferred revenue and credits2423
Contract with customer, liability40
Other liabilities38240833727822013392
Other undisclosed current liabilities4,9714,5094,2573,8064,3634,7354,273
Total current liabilities:5,6885,2224,9384,4274,8455,2874,725
Noncurrent Liabilities
Long-term debt and lease obligation877884890894796  
Long-term debt, excluding current maturities798798797797796  
Operating lease, liability79879297
Liabilities, other than long-term debt433462451449415152153
Accounts payable and accrued liabilities57452634271846
Deferred tax liabilities, net2234934
Deferred income tax liabilities189208218241
Other liabilities1882102081741658574
Total noncurrent liabilities:1,3101,3461,3411,3421,212152153
Total liabilities:6,9986,5686,2795,7696,0575,4394,878
Stockholders' equity
Stockholders' equity attributable to parent3,2863,1202,9482,7812,6202,0251,955
Common stock4444444
Additional paid in capital1,5311,5061,4471,2901,2061,1271,030
Accumulated other comprehensive income (loss)(47)452570(36)20
Retained earnings1,7991,6071,4461,4311,410930902
Total stockholders' equity:3,2863,1202,9482,7812,6202,0251,955
TOTAL LIABILITIES AND EQUITY:10,2849,6889,2278,5518,6767,4646,834

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

2/28/2022
TTM
11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Revenues4,4974,3324,0574,0413,7733,3813,151
Revenue, net3,3173,101
Cost of revenue(1,312)(1,288)(1,271)(1,281) (7,900)(5,900)
Cost of goods and services sold     (7,900)(5,900)
Gross profit:3,1853,0442,7862,7603,773(4,519)(2,749)
Operating expenses(1,385)(1,338)(1,325)(1,299)(2,401)(2,093)(1,912)
Other undisclosed operating income     7,9005,900
Operating income:1,8001,7061,4611,4611,3711,2881,240
Nonoperating income1821915131210
Investment income, nonoperating22212131210
Other nonoperating income161973   
Interest and debt expense(37)(36)(36)(39)(18)(4)(3)
Income from continuing operations before equity method investments, income taxes:1,7821,6901,4341,4371,3671,2961,247
Income (loss) from equity method investments    11(2)
Income from continuing operations before income taxes:1,7821,6901,4341,4371,3681,2961,245
Income tax expense(422)(411)(337)(339)(334)(362)(428)
Net income available to common stockholders, diluted:1,3591,2791,0981,0981,034934817

Comprehensive Income ($ in millions)

2/28/2022
TTM
11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Net income:1,3591,2791,0981,0981,034934817
Comprehensive income:1,3591,2791,0981,0981,034934817
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(104)(69)(5)5636(56)(9)
Comprehensive income, net of tax, attributable to parent:1,2551,2101,0931,1551,071878808

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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