XML 61 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stock-Based Compensation Plans (Tables) | 12 Months Ended
--- | ---
May 31, 2013
Stock-Based Compensation Plans [Abstract] |
Weighted-average assumptions used for valuation under the Black-Scholes model | The weighted-average assumptions used for valuation under the Black-Scholes model are as follows:
|  | Year ended May 31,
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2011
|  | Performance stock options |  | Stock options
Risk-free interest rate |  | 0.7 | % |  | 1.9 | % |  | 1.0 | % |  | 2.2 | % |  | 2.2 | %
Dividend yield |  | 4.1 | % |  | 4.2 | % |  | 4.3 | % |  | 4.2 | % |  | 4.2 | %
Volatility factor |  | .22 |  |  | .24 |  |  | .23 |  |  | .24 |  |  | .24 |
Expected option life in years |  | 4.8 |  |  | 5.8 |  |  | 6.4 |  |  | 6.4 |  |  | 6.5 |
Weighted-average grant-date fair value of stock options granted (per share) |  | $ | 3.55 |  |  | $ | 4.35 |  |  | $ | 3.77 |  |  | $ | 4.46 |  |  | $ | 4.02 |
Broad-based stock option grants | The Company had granted stock options to virtually all non-management employees with at least ninety of service, and shares remain outstanding for the following broad-based stock option grants:
Date of broad-based grant |  | Shares granted (millions) |  | Exercise price per share |  | Shares outstanding as of May 31, 2013 (millions) |
April 2004 |  | 1.7 |  |  | $ | 37.72 |  |  | 0.6 |  |
October 2006 |  | 2.0 |  |  | $ | 37.32 |  |  | 1.0 |  |
Stock options activity | The following table summarizes stock option activity for the year ended May 31, 2013:
In millions, except per share amounts |  | Shares subject to options |  | Weighted-average exercise price per share |  | Weighted-average remaining contractual term (years) |  | Aggregate intrinsic value(1)
Outstanding as of May 31, 2012 |  | 10.0 |  |  | $ | 33.88 |  |  |  |  |
Granted |  | 1.0 |  |  | $ | 31.73 |  |  |  |  |
Exercised |  | (2.4 | ) |  | $ | 31.91 |  |  |  |  |
Forfeited |  | (0.1 | ) |  | $ | 29.33 |  |  |  |  |
Expired |  | (0.5 | ) |  | $ | 35.70 |  |  |  |  |
Outstanding as of May 31, 2013 |  | 8.0 |  |  | $ | 34.17 |  |  | 4.4 |  | $ | 26.3 |
Exercisable as of May 31, 2013 |  | 6.1 |  |  | $ | 35.29 |  |  | 3.2 |  | $ | 13.8 |
(1) Market price of the underlying stock as of May 31, 2013 less the exercise price.
Stock option plan other information | Other information pertaining to stock option grants is as follows:
|  | Year ended May 31,
In millions, except per share amounts |  | 2013 |  | 2012 |  | 2011
Total intrinsic value of stock options exercised |  | $ | 7.8 |  |  | $ | 0.8 |  |  | $ | 1.9 |
Total grant-date fair value of stock options vested |  | $ | 3.0 |  |  | $ | 10.4 |  |  | $ | 20.0 |
Performance stock options activity | The following table summarizes performance stock option activity for the year ended May 31, 2013:
In millions, except per share amounts |  | Shares subject to options |  | Weighted-average exercise price per share |  | Weighted-average remaining contractual term (years) |  | Aggregate intrinsic value (2)
Outstanding as of May 31, 2012 |  | 2.6 |  |  | $ | 30.80 |  |  |  |  |
Granted(1) |  | 0.2 |  |  | $ | 32.99 |  |  |  |  |
Exercised |  | — |  |  | $ | — |  |  |  |  |
Forfeited |  | (0.1 | ) |  | $ | 31.63 |  |  |  |  |
Expired |  | — |  |  | $ | — |  |  |  |  |
Outstanding as of May 31, 2013 |  | 2.7 |  |  | $ | 30.95 |  |  | 8.3 |  | $ | 16.8 |
Exercisable as of May 31, 2013 |  | — |  |  | $ | — |  |  | 0.0 |  | $ | — |
(1) | Performance stock options granted assuming achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.
(2) | Market price of the underlying stock as of May 31, 2013 less the exercise price.
RSU Activity | The following table summarizes RSU activity for the year ended May 31, 2013:
In millions, except per share amounts |  | RSUs |  | Weighted-average grant-date fair value per share |  | Weighted-average remaining vesting period (years) |  | Aggregate intrinsic value (1)
Nonvested as of May 31, 2012 |  | 1.6 |  |  | $ | 25.49 |  |  |  |  |
Granted |  | 0.7 |  |  | $ | 28.59 |  |  |  |  |
Vested |  | (0.5 | ) |  | $ | 27.10 |  |  |  |  |
Forfeited |  | (0.2 | ) |  | $ | 25.96 |  |  |  |  |
Nonvested as of May 31, 2013 |  | 1.6 |  |  | $ | 26.29 |  |  | 1.6 |  | $ | 59.9 |
(1) | An RSU is an agreement to issue shares at the time of vesting with no associated exercise cost. Therefore, intrinsic value for RSUs is the market price of the underlying stock as of May 31, 2013.
Other information pertaining to RSUs | Other information pertaining to RSUs is as follows:
|  | Year ended May 31,
In millions, except per share amounts |  | 2013 |  | 2012 |  | 2011
Weighted-average grant-date fair value of RSUs granted |  | $ | 28.59 |  |  | $ | 27.67 |  |  | $ | 21.52 |
Total intrinsic value of RSUs vested |  | $ | 15.5 |  |  | $ | 11.0 |  |  | $ | 7.7 |
Total grant-date fair value of RSUs vested |  | $ | 13.4 |  |  | $ | 9.5 |  |  | $ | 8.5 |
Restricted stock award activity | The following table summarizes restricted stock activity for the year ended May 31, 2013:
In millions, except per share amounts |  | Restricted shares |  | Weighted-average grant-date fair value per share
Nonvested as of May 31, 2012 |  | 0.2 |  |  | $ | 29.35 |
Granted |  | 0.1 |  |  | $ | 31.76 |
Vested |  | (0.1 | ) |  | $ | 31.06 |
Forfeited |  | — |  |  | $ | 29.19 |
Nonvested as of May 31, 2013 |  | 0.2 |  |  | $ | 29.83 |
Other information pertaining to restricted stock awards | Other information pertaining to restricted stock follows:
|  | Year ended May 31,
In millions, except per share amounts |  | 2013 |  | 2012 |  | 2011
Weighted-average grant-date fair value of restricted stock granted |  | $ | 31.76 |  |  | $ | 30.69 |  |  | $ | 26.40 |
Total grant-date fair value of restricted stock vested |  | $ | 2.1 |  |  | $ | 3.2 |  |  | $ | 2.2 |
Performance shares activity | The following table summarizes performance share activity for the year ended May 31, 2013:
In millions, except per share amounts |  | Performance shares |  | Weighted-average grant-date fair value per share
Nonvested as of May 31, 2012 |  | 0.2 |  |  | $ | 26.83 |
Granted(1) |  | 0.2 |  |  | $ | 29.10 |
Forfeited |  | — |  |  | $ | 26.74 |
Nonvested as of May 31, 2013 |  | 0.4 |  |  | $ | 27.89 |
(1) | Performance shares granted assuming achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.

X
- Definition Schedule Of Share Based Compensation Other Information Pertaining To Restricted Stock Awards Activity [Table Text Block] + References No definition available. + Details
Name: | payx_ScheduleOfShareBasedCompensationOtherInformationPertainingToRestrictedStockAwardsActivityTableTextBlockTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of share based compensation other information pertaining to restricted stock units activity. + References No definition available. + Details
Name: | payx_ScheduleOfShareBasedCompensationOtherInformationPertainingToRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of share based compensation performance stock options activity. + References No definition available. + Details
Name: | payx_ScheduleOfShareBasedCompensationPerformanceStockOptionsActivityTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Share based compensation arrangements broad based options outstanding. + References No definition available. + Details
Name: | payx_ShareBasedCompensationArrangementsBroadBasedOptionsOutstandingTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | payx_StockBasedCompensationPlansAbstract
Namespace Prefix: | payx_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration