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Quarterly Financial Data (Unaudited) | 12 Months Ended
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May 31, 2011
Quarterly Financial Data (Unaudited) [Abstract] |
Quarterly Financial Data (Unaudited) |
Note O — | Quarterly Financial Data (Unaudited)
In millions, except per share amounts
|  | 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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- Definition This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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