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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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May 31, 2011
Quarterly Financial Data (Unaudited) (Tables) [Abstract] |
Summary of Quarterly Financial Data (Unaudited) |
|  | Three Months Ended |  |  |  |
Fiscal 2011 |  | August 31 |  |  | November 30 |  |  | February 28 |  |  | May 31 |  |  | Full Year |
Service revenue |  |  | 506.2 |  |  |  | 500.0 |  |  | $ | 519.6 |  |  | $ | 510.4 |  |  | $ | 2,036.2 |
Interest on funds held for clients |  |  | 12.1 |  |  |  | 12.0 |  |  |  | 11.7 |  |  |  | 12.3 |  |  |  | 48.1 |
Total revenue |  |  | 518.3 |  |  |  | 512.0 |  |  |  | 531.3 |  |  |  | 522.7 |  |  |  | 2,084.3 |
Operating income |  |  | 200.8 |  |  |  | 203.9 |  |  |  | 198.9 |  |  |  | 182.8 |  |  |  | 786.4 |
Investment income, net |  |  | 1.4 |  |  |  | 1.5 |  |  |  | 1.5 |  |  |  | 1.4 |  |  |  | 5.8 |
Income before income taxes |  |  | 202.2 |  |  |  | 205.4 |  |  |  | 200.4 |  |  |  | 184.2 |  |  |  | 792.2 |
Income taxes |  |  | 70.3 |  |  |  | 71.5 |  |  |  | 69.8 |  |  |  | 65.3 |  |  |  | 276.9 |
Net income |  | $ | 131.9 |  |  | $ | 133.9 |  |  | $ | 130.6 |  |  | $ | 118.9 |  |  | $ | 515.3 |
Basic earnings per share(1) |  | $ | 0.36 |  |  | $ | 0.37 |  |  | $ | 0.36 |  |  | $ | 0.33 |  |  | $ | 1.42 |
Diluted earnings per share(1) |  | $ | 0.36 |  |  | $ | 0.37 |  |  | $ | 0.36 |  |  | $ | 0.33 |  |  | $ | 1.42 |
Weighted-average common shares outstanding |  |  | 361.6 |  |  |  | 361.7 |  |  |  | 361.8 |  |  |  | 362.0 |  |  |  | 361.8 |
Weighted-average common shares outstanding, assuming dilution |  |  | 362.0 |  |  |  | 362.1 |  |  |  | 362.6 |  |  |  | 363.0 |  |  |  | 362.4 |
Cash dividends per common share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 1.24 |
Total net realized gains(2) |  | $ | 0.1 |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.9 |  |  | $ | 1.3 |
|  | Three Months Ended |  |  |  |
Fiscal 2010 |  | August 31 |  |  | November 30 |  |  | February 28(3) |  |  | May 31 |  |  | Full Year |
Service revenue |  | $ | 486.5 |  |  | $ | 483.0 |  |  | $ | 493.8 |  |  | $ | 482.5 |  |  | $ | 1,945.8 |
Interest on funds held for clients |  |  | 13.7 |  |  |  | 13.6 |  |  |  | 14.0 |  |  |  | 13.7 |  |  |  | 55.0 |
Total revenue |  |  | 500.2 |  |  |  | 496.6 |  |  |  | 507.8 |  |  |  | 496.2 |  |  |  | 2,000.8 |
Operating income |  |  | 189.9 |  |  |  | 193.1 |  |  |  | 168.2 |  |  |  | 173.6 |  |  |  | 724.8 |
Investment income, net |  |  | 0.9 |  |  |  | 1.1 |  |  |  | 1.2 |  |  |  | 1.3 |  |  |  | 4.5 |
Income before income taxes |  |  | 190.8 |  |  |  | 194.2 |  |  |  | 169.4 |  |  |  | 174.9 |  |  |  | 729.3 |
Income taxes |  |  | 67.2 |  |  |  | 68.3 |  |  |  | 57.4 |  |  |  | 59.4 |  |  |  | 252.3 |
Net income |  | $ | 123.6 |  |  | $ | 125.9 |  |  | $ | 112.0 |  |  | $ | 115.5 |  |  | $ | 477.0 |
Basic earnings per share(1) |  | $ | 0.34 |  |  | $ | 0.35 |  |  | $ | 0.31 |  |  | $ | 0.32 |  |  | $ | 1.32 |
Diluted earnings per share(1) |  | $ | 0.34 |  |  | $ | 0.35 |  |  | $ | 0.31 |  |  | $ | 0.32 |  |  | $ | 1.32 |
Weighted-average common shares outstanding |  |  | 361.2 |  |  |  | 361.4 |  |  |  | 361.4 |  |  |  | 361.5 |  |  |  | 361.4 |
Weighted-average common shares outstanding, assuming dilution |  |  | 361.4 |  |  |  | 361.7 |  |  |  | 361.9 |  |  |  | 362.0 |  |  |  | 361.7 |
Cash dividends per common share |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 0.31 |  |  | $ | 1.24 |
Total net realized gains(2) |  | $ | 0.3 |  |  | $ | 0.7 |  |  | $ | 1.3 |  |  | $ | 0.9 |  |  | $ | 3.2 |
(1) |  | Each quarter is a discrete period and the sum of the four quarters’ basic and diluted earnings per share amounts may not equal the full year amount.
(2) |  | Total net realized gains on the combined funds held for clients and corporate investment portfolios.
(3) |  | Includes an expense charge of $18.7 million to increase the litigation reserve.

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