$PAYX
PAYCHEX INC

2014 Q1 Form 10-Q Financial Statement

#000072353114000005 Filed on March 26, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $650.4M $593.3M
YoY Change 9.62% 4.18%
Cost Of Revenue $191.0M $172.1M
YoY Change 10.98% -1.21%
Gross Profit $459.4M $421.2M
YoY Change 9.07% 6.55%
Gross Profit Margin 70.63% 70.99%
Selling, General & Admin $208.7M $197.1M
YoY Change 5.89% 6.6%
% of Gross Profit 45.43% 46.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.10M $20.10M
YoY Change 9.95% 6.91%
% of Gross Profit 4.81% 4.77%
Operating Expenses $399.7M $368.3M
YoY Change 8.53% 99.19%
Operating Profit $250.7M $225.0M
YoY Change 11.42% 6.94%
Interest Expense $1.500M $1.400M
YoY Change 7.14% -12.5%
% of Operating Profit 0.6% 0.62%
Other Income/Expense, Net
YoY Change
Pretax Income $252.2M $226.4M
YoY Change 11.4% 6.79%
Income Tax $92.10M $81.90M
% Of Pretax Income 36.52% 36.17%
Net Earnings $160.1M $144.5M
YoY Change 10.8% 6.72%
Net Earnings / Revenue 24.62% 24.36%
Basic Earnings Per Share $0.44 $0.40
Diluted Earnings Per Share $0.44 $0.40
COMMON SHARES
Basic Shares Outstanding 364.2M shares 363.8M shares
Diluted Shares Outstanding 365.8M shares 364.6M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $586.0M $571.0M
YoY Change 2.63% 13.52%
Cash & Equivalents $271.3M $100.4M
Short-Term Investments $314.0M $470.0M
Other Short-Term Assets $4.975B $5.599B
YoY Change -11.14% 32.93%
Inventory
Prepaid Expenses
Receivables $129.6M $125.1M
Other Receivables $29.00M $25.00M
Total Short-Term Assets $5.719B $6.320B
YoY Change -9.5% 29.71%
LONG-TERM ASSETS
Property, Plant & Equipment $345.1M $341.7M
YoY Change 1.0% 7.79%
Goodwill $540.0M $533.9M
YoY Change 1.14%
Intangibles $40.50M $49.90M
YoY Change -18.84%
Long-Term Investments $378.0M $227.0M
YoY Change 66.52% -23.05%
Other Assets $10.40M $2.800M
YoY Change 271.43% -90.97%
Total Long-Term Assets $1.350B $1.188B
YoY Change 13.65% -2.87%
TOTAL ASSETS
Total Short-Term Assets $5.719B $6.320B
Total Long-Term Assets $1.350B $1.188B
Total Assets $7.069B $7.508B
YoY Change -5.84% 23.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.70M $47.60M
YoY Change -27.1% 3.48%
Accrued Expenses $164.0M $139.0M
YoY Change 17.99% -4.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.139B $5.757B
YoY Change -10.73% 31.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $55.10M $48.50M
YoY Change 13.61% -44.25%
Total Long-Term Liabilities $55.10M $48.50M
YoY Change 13.61% -44.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.139B $5.757B
Total Long-Term Liabilities $55.10M $48.50M
Total Liabilities $5.281B $5.902B
YoY Change -10.51% 31.15%
SHAREHOLDERS EQUITY
Retained Earnings $983.7M $964.9M
YoY Change 1.95%
Common Stock $779.9M $608.3M
YoY Change 28.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.788B $1.606B
YoY Change
Total Liabilities & Shareholders Equity $7.069B $7.508B
YoY Change -5.84% 23.17%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $160.1M $144.5M
YoY Change 10.8% 6.72%
Depreciation, Depletion And Amortization $22.10M $20.10M
YoY Change 9.95% 6.91%
Cash From Operating Activities $305.6M $280.4M
YoY Change 8.99% 5.65%
INVESTING ACTIVITIES
Capital Expenditures -$17.30M -$24.30M
YoY Change -28.81% 32.79%
Acquisitions
YoY Change
Other Investing Activities -$1.071B -$1.889B
YoY Change -43.29% 56.4%
Cash From Investing Activities -$1.089B -$1.913B
YoY Change -43.11% 56.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 841.2M 1.611B
YoY Change -47.77% 59.31%
NET CHANGE
Cash From Operating Activities 305.6M 280.4M
Cash From Investing Activities -1.089B -1.913B
Cash From Financing Activities 841.2M 1.611B
Net Change In Cash 58.30M -22.20M
YoY Change -362.61% -144.05%
FREE CASH FLOW
Cash From Operating Activities $305.6M $280.4M
Capital Expenditures -$17.30M -$24.30M
Free Cash Flow $322.9M $304.7M
YoY Change 5.97% 7.4%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Period End Date
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dei Document Type
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dei Entity Central Index Key
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CY2014Q1 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
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dei Entity Registrant Name
EntityRegistrantName
PAYCHEX INC

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