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Below are the financial statements of Paychex, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
Below are the financial statements of Paychex, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 as of 2024-05-31 | 2023 as of 2023-05-31 |
|---|---|---|
| Assets | — | — |
| Cash and cash equivalents | 1,468.9a | 1,222a |
| Restricted cash | 47.8a | 49.8a |
| Corporate investments | 33.9a | 373.4a |
| Interest receivable | 23.3a | 24.4a |
| Accounts receivable, net of allowance for credit losses | 1,059.6a | 873.3a |
| PEO unbilled receivables, net of advance collections | 542.4a | 528.5a |
| Prepaid income taxes | 47.5a | 48.1a |
| Prepaid expenses and other current assets | 321.9a | 289.8a |
| Current assets before funds held for clients | 3,545.3a | 3,409.3a |
| Funds held for clients | 3,706.2a | 4,118.8a |
| Total current assets | 7,251.5a | 7,528.1a |
| Long-term corporate investments | 3.7a | 3.8a |
| Property and equipment, net of accumulated depreciation | 411.7a | 396.3a |
| Operating lease right-of-use assets, net of accumulated amortization | 46.9a | 61.5a |
| Intangible assets, net of accumulated amortization | 194.5a | 187.4a |
| Goodwill | 1,882.7a | 1,834a |
| Long-term deferred costs | 477.1a | 470.1a |
| Other long-term assets | 115a | 65.2a |
| Total assets | 10,383.1a | 10,546.4a |
| Liabilities | — | — |
| Accounts payable | 104.3a | 84.7a |
| Accrued corporate compensation and related items | 135a | 209.9a |
| Accrued worksite employee compensation and related items | 662.4a | 763.9a |
| Short-term borrowings | 18.7a | 10.2a |
| Deferred revenue | 50.2a | 47.3a |
| Other current liabilities | 469.8a | 395.4a |
| Current liabilities before client fund obligations | 1,440.4a | 1,511.4a |
| Client fund obligations | 3,868.7a | 4,294a |
| Total current liabilities | 5,309.1a | 5,805.4a |
| Accrued income taxes | 102.6a | 83a |
| Deferred income taxes | 86a | 112.1a |
| Long-term borrowings, net of debt issuance costs | 798.6a | 798.2a |
| Operating lease liabilities | 49a | 57.3a |
| Other long-term liabilities | 236.8a | 197.2a |
| Total liabilities | 6,582.1a | 7,053.2a |
| Stockholders’ equity | — | — |
| Common stock | 3.6a | 3.6a |
| Additional paid-in capital | 1,729.5a | 1,626.4a |
| Retained earnings | 2,213a | 2,023.1a |
| Accumulated other comprehensive loss | -145.1a | -159.9a |
| Total stockholders’ equity | 3,801a | 3,493.2a |
| Total liabilities and stockholders’ equity | 10,383.1a | 10,546.4a |
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