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v3.25.1

Corporate Investments and Funds Held for Clients (Tables) | 9 Months Ended
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Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Summary of Debt Securities, Available-for-Sale | Corporate investments and funds held for clients at March 31, 2025 and June 30, 2024 were as follows:
| March 31, 2025
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  |  |  | Fair Market Value (A)
Type of issue: |  |  |  |  |  |  |  |  |
Money market securities, cash and other cash equivalents | $ | 8,199.2 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 8,199.2 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Corporate bonds | 17,602.6 |  |  | 56.3 |  |  | (536.7) |  |  |  |  | 17,122.2 |
U.S. Treasury securities | 8,494.6 |  |  | 56.1 |  |  | (62.5) |  |  |  |  | 8,488.2 |
Canadian government obligations and Canadian government agency obligations | 2,167.1 |  |  | 21.1 |  |  | (37.0) |  |  |  |  | 2,151.2 |
U.S. government agency securities | 1,588.4 |  |  | 2.0 |  |  | (91.8) |  |  |  |  | 1,498.6 |
Asset-backed securities | 1,788.1 |  |  | 15.2 |  |  | (21.1) |  |  |  |  | 1,782.2 |
Canadian provincial bonds | 1,131.8 |  |  | 14.6 |  |  | (31.6) |  |  |  |  | 1,114.8 |
Commercial mortgage-backed securities | 467.2 |  |  | 0.4 |  |  | (22.0) |  |  |  |  | 445.6 |
Other securities | 1,304.8 |  |  | 2.5 |  |  | (53.5) |  |  |  |  | 1,253.8 |
Total available-for-sale securities | 34,544.6 |  |  | 168.2 |  |  | (856.2) |  |  |  |  | 33,856.6 |
Total corporate investments and funds held for clients | $ | 42,743.8 |  |  | $ | 168.2 |  |  | $ | (856.2) |  |  |  |  | $ | 42,055.8 |
(A) Included within available-for-sale securities are funds held for clients with fair values of $33,856.6 million. There are no corporate investments included within available-for-sale securities at March 31, 2025. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
| June 30, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Market Value (B)
Type of issue: |  |  |  |  |  |  |
Money market securities, cash and other cash equivalents | $ | 10,086.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,086.0 |
Available-for-sale securities: |  |  |  |  |  |  |
Corporate bonds | 16,833.3 |  |  | 11.5 |  |  | (944.8) |  |  | 15,900.0 |
U.S. Treasury securities | 7,701.2 |  |  | 9.0 |  |  | (164.5) |  |  | 7,545.7 |
Canadian government obligations and Canadian government agency obligations | 2,130.7 |  |  | 1.7 |  |  | (86.6) |  |  | 2,045.8 |
U.S. government agency securities | 1,645.0 |  |  | 0.5 |  |  | (140.6) |  |  | 1,504.9 |
Asset-backed securities | 1,394.9 |  |  | 3.9 |  |  | (43.0) |  |  | 1,355.8 |
Canadian provincial bonds | 1,116.3 |  |  | 2.3 |  |  | (56.2) |  |  | 1,062.4 |
Commercial mortgage-backed securities | 535.9 |  |  | — |  |  | (35.1) |  |  | 500.8 |
Other securities | 1,366.0 |  |  | 2.0 |  |  | (75.9) |  |  | 1,292.1 |
Total available-for-sale securities | 32,723.3 |  |  | 30.9 |  |  | (1,546.7) |  |  | 31,207.5 |
Total corporate investments and funds held for clients | $ | 42,809.3 |  |  | $ | 30.9 |  |  | $ | (1,546.7) |  |  | $ | 41,293.5 |
(B) Included within available-for-sale securities are corporate investments with fair values of $384.0 million and funds held for clients with fair values of $30,823.5 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
Summary of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of March 31, 2025, are as follows:
| March 31, 2025
| Securities in Unrealized Loss Position Less Than 12 Months |  | Securities in Unrealized Loss Position Greater Than 12 Months |  | Total
| Gross Unrealized Losses |  | Fair Market Value |  | Gross Unrealized Losses |  | Fair Market Value |  | Gross Unrealized Losses |  | Fair Market Value
Corporate bonds | $ | (18.9) |  |  | $ | 1,724.1 |  |  | $ | (517.8) |  |  | $ | 11,020.7 |  |  | $ | (536.7) |  |  | $ | 12,744.8 |
U.S. Treasury securities | (4.0) |  |  | 1,004.4 |  |  | (58.5) |  |  | 2,780.4 |  |  | (62.5) |  |  | 3,784.8 |
Canadian government obligations and Canadian government agency obligations | (0.1) |  |  | 19.9 |  |  | (36.9) |  |  | 1,115.6 |  |  | (37.0) |  |  | 1,135.5 |
U.S. government agency securities | (0.1) |  |  | 22.9 |  |  | (91.7) |  |  | 1,304.1 |  |  | (91.8) |  |  | 1,327.0 |
Asset-backed securities | (1.3) |  |  | 230.8 |  |  | (19.8) |  |  | 530.9 |  |  | (21.1) |  |  | 761.7 |
Canadian provincial bonds | (1.4) |  |  | 68.6 |  |  | (30.2) |  |  | 599.1 |  |  | (31.6) |  |  | 667.7 |
Commercial mortgage-backed securities | (0.1) |  |  | 4.0 |  |  | (21.9) |  |  | 419.5 |  |  | (22.0) |  |  | 423.5 |
Other securities | (3.2) |  |  | 314.6 |  |  | (50.3) |  |  | 733.5 |  |  | (53.5) |  |  | 1,048.1 |
| $ | (29.1) |  |  | $ | 3,389.3 |  |  | $ | (827.1) |  |  | $ | 18,503.8 |  |  | $ | (856.2) |  |  | $ | 21,893.1 |
The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2024, are as follows:
| June 30, 2024
| Securities in Unrealized Loss Position Less Than 12 Months |  | Securities in Unrealized Loss Position Greater Than 12 Months |  | Total
| Gross Unrealized Losses |  | Fair Market Value |  | Gross Unrealized Losses |  | Fair Market Value |  | Gross Unrealized Losses |  | Fair Market Value
Corporate bonds | $ | (25.8) |  |  | $ | 2,173.6 |  |  | $ | (919.0) |  |  | $ | 12,413.4 |  |  | $ | (944.8) |  |  | $ | 14,587.0 |
U.S. Treasury securities | (23.1) |  |  | 2,186.2 |  |  | (141.4) |  |  | 4,076.9 |  |  | (164.5) |  |  | 6,263.1 |
Canadian government obligations and Canadian government agency obligations | (0.9) |  |  | 304.6 |  |  | (85.7) |  |  | 1,591.6 |  |  | (86.6) |  |  | 1,896.2 |
U.S. government agency securities | (0.7) |  |  | 51.5 |  |  | (139.9) |  |  | 1,428.2 |  |  | (140.6) |  |  | 1,479.7 |
Asset-backed securities | (2.3) |  |  | 351.4 |  |  | (40.7) |  |  | 668.0 |  |  | (43.0) |  |  | 1,019.4 |
Canadian provincial bonds | (1.3) |  |  | 193.0 |  |  | (54.9) |  |  | 717.4 |  |  | (56.2) |  |  | 910.4 |
Commercial mortgage-backed securities | (0.5) |  |  | 11.2 |  |  | (34.6) |  |  | 489.6 |  |  | (35.1) |  |  | 500.8 |
Other securities | (12.2) |  |  | 288.5 |  |  | (63.7) |  |  | 864.8 |  |  | (75.9) |  |  | 1,153.3 |
| $ | (66.8) |  |  | $ | 5,560.0 |  |  | $ | (1,479.9) |  |  | $ | 22,249.9 |  |  | $ | (1,546.7) |  |  | $ | 27,809.9 |
Classification of Corporate Investments on the Consolidated Balance Sheets | Classification of corporate investments on the Consolidated Balance Sheets is as follows:
|  | March 31, |  | June 30,
|  | 2025 |  | 2024
Corporate investments: |  |  |  |
Cash and cash equivalents |  | $ | 2,680.6 |  |  | $ | 2,913.4 |
Short-term marketable securities (a) |  | — |  |  | 384.0 |
Long-term marketable securities (b) |  | — |  |  | — |
Total corporate investments |  | $ | 2,680.6 |  |  | $ | 3,297.4 |
(a) - Short-term marketable securities are included within Other current assets on the Consolidated Balance Sheets. (b) - Long-term marketable securities are included within Other assets on the Consolidated Balance Sheets.
Schedule of Investment of Funds Held for Clients | Funds held for clients have been invested in the following categories:
|  | March 31, |  | June 30,
|  | 2025 |  | 2024
Funds held for clients: |  |  |  |
Restricted cash and cash equivalents held to satisfy client funds obligations |  | $ | 5,518.6 |  |  | $ | 7,172.6 |
Restricted short-term marketable securities held to satisfy client funds obligations |  | 8,454.4 |  |  | 5,538.1 |
Restricted long-term marketable securities held to satisfy client funds obligations |  | 25,402.2 |  |  | 25,285.4 |
Total funds held for clients |  | $ | 39,375.2 |  |  | $ | 37,996.1 |
Schedule of Expected Maturities of Available-for-Sale Securities | Expected maturities of available-for-sale securities at March 31, 2025 are as follows:
One year or less | $ | 8,454.4 |
One year to two years | 6,522.9 |
Two years to three years | 4,144.1 |
Three years to four years | 5,217.7 |
After four years | 9,517.5 |
Total available-for-sale securities | $ | 33,856.6 |

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- Definition This element represents the carrying amounts of all corporate investments on the Consolidated Balance Sheets including cash and cash equivalents, short-term and long-term investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. This element excludes same type of investments held as funds held for clients which is disclosed in a separate table. + References No definition available. + Details
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