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Quarterly Financial Data | 12 Months Ended
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May 31, 2019
Quarterly Financial Data [Abstract] |
Quarterly Financial Data | Note S — Quarterly Financial Data (Unaudited) In millions, except per share amounts ﻿ ﻿
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﻿ |  | Three Months Ended |  |  |
﻿Fiscal 2019 |  | August 31 |  | November 30 |  | February 28 |  | May 31 |  | Full Year
﻿Service revenue |  | $ | 845.7 |  | $ | 840.6 |  | $ | 1,047.4 |  | $ | 958.2 |  | $ | 3,691.9
﻿Interest on funds held for clients |  |  | 17.1 |  |  | 18.3 |  |  | 23.0 |  |  | 22.2 |  |  | 80.6
﻿Total revenue |  | $ | 862.8 |  | $ | 858.9 |  | $ | 1,070.4 |  | $ | 980.4 |  | $ | 3,772.5
﻿Operating income |  | $ | 320.3 |  | $ | 307.2 |  | $ | 429.3 |  | $ | 314.5 |  | $ | 1,371.3
﻿Interest income/(expense), net |  |  | 2.3 |  |  | 2.1 |  |  | (3.7) |  |  | (4.0) |  |  | (3.3)
﻿Income before income taxes |  |  | 322.6 |  |  | 309.3 |  |  | 425.6 |  |  | 310.5 |  |  | 1,368.0
﻿Income taxes |  |  | 79.0 |  |  | 73.5 |  |  | 101.0 |  |  | 80.1 |  |  | 333.6
﻿Net income |  | $ | 243.6 |  | $ | 235.8 |  | $ | 324.6 |  | $ | 230.4 |  | $ | 1,034.4
﻿Basic earnings per share(2) |  | $ | 0.68 |  | $ | 0.66 |  | $ | 0.90 |  | $ | 0.64 |  | $ | 2.88
﻿Diluted earnings per share(2) |  | $ | 0.67 |  | $ | 0.65 |  | $ | 0.90 |  | $ | 0.64 |  | $ | 2.86
﻿Weighted-average common shares outstanding |  |  | 359.1 |  |  | 359.1 |  |  | 359.2 |  |  | 359.4 |  |  | 359.2
﻿Weighted-average common shares outstanding, assuming dilution |  |  | 361.5 |  |  | 361.5 |  |  | 361.6 |  |  | 362.5 |  |  | 361.8
﻿Cash dividends per common share |  | $ | 0.56 |  | $ | 0.56 |  | $ | 0.56 |  | $ | 0.62 |  | $ | 2.30
﻿Total net realized gains/(losses)(3) |  | $ | 0.1 |  | $ | (0.3) |  | $ | 0.1 |  | $ | 0.1 |  | $ | —
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﻿ |  | Three Months Ended |  |  |
﻿Fiscal 2018 |  | August 31(1) |  | November 30(1) |  | February 28(1) |  | May 31(1) |  | Full Year(1)
﻿Service revenue |  | $ | 779.2 |  | $ | 789.0 |  | $ | 918.0 |  | $ | 828.0 |  | $ | 3,314.2
﻿Interest on funds held for clients |  |  | 13.7 |  |  | 14.0 |  |  | 18.1 |  |  | 17.7 |  |  | 63.5
﻿Total revenue |  | $ | 792.9 |  | $ | 803.0 |  | $ | 936.1 |  | $ | 845.7 |  | $ | 3,377.7
﻿Operating income |  | $ | 317.3 |  | $ | 303.1 |  | $ | 369.0 |  | $ | 302.1 |  | $ | 1,291.5
﻿Interest income, net |  |  | 2.1 |  |  | 1.7 |  |  | 2.3 |  |  | 2.5 |  |  | 8.6
﻿Income before income taxes |  |  | 319.4 |  |  | 304.8 |  |  | 371.3 |  |  | 304.6 |  |  | 1,300.1
﻿Income taxes(4) |  |  | 109.0 |  |  | 106.0 |  |  | 4.1 |  |  | 86.9 |  |  | 306.0
﻿Net income |  | $ | 210.4 |  | $ | 198.8 |  | $ | 367.2 |  | $ | 217.7 |  | $ | 994.1
﻿Basic earnings per share(2) |  | $ | 0.59 |  | $ | 0.55 |  | $ | 1.02 |  | $ | 0.61 |  | $ | 2.77
﻿Diluted earnings per share(2) |  | $ | 0.58 |  | $ | 0.55 |  | $ | 1.01 |  | $ | 0.60 |  | $ | 2.75
﻿Weighted-average common shares outstanding |  |  | 358.9 |  |  | 359.1 |  |  | 359.2 |  |  | 359.0 |  |  | 359.0
﻿Weighted-average common shares outstanding, assuming dilution |  |  | 361.3 |  |  | 361.4 |  |  | 362.0 |  |  | 361.5 |  |  | 361.5
﻿Cash dividends per common share |  | $ | 0.50 |  | $ | 0.50 |  | $ | 0.50 |  | $ | 0.56 |  | $ | 2.06
﻿Total net realized gains(3) |  | $ | — |  | $ | — |  | $ | 0.1 |  | $ | — |  | $ | 0.1
﻿
| (1) |  | Amounts have been adjusted to reflect the adoption of ASC Topic 606.
| (2) |  | 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.
| (3) |  | Total net realized gains/(losses) on the combined funds held for clients and corporate investment portfolios.
| (4) |  | As a result of the Tax Act, the effective income tax rate for the three months ended February 28, 2018 was significantly impacted by certain one-time net tax benefits. Refer to Note K of this Item 8 for further details.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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