XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.19.1

Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables) | 9 Months Ended
--- | ---
Feb. 28, 2019
ASU 2014-09 [Member] |
Schedule of Recast of Selected Unaudited Consolidated Statements of Income and Comprehensive Income | ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the three months ended February 28, 2018
﻿ |  | As Previously |  |  |  |
﻿In millions, except per share amounts |  | Reported |  | Adjustments |  | As Adjusted
﻿Service revenue |  | $ | 848.4 |  | $ | 69.6 |  | $ | 918.0
﻿Operating expenses |  |  | 270.7 |  |  | 1.5 |  |  | 272.2
﻿Selling, general and administrative expenses |  |  | 303.3 |  |  | (8.4) |  |  | 294.9
﻿ Total expenses |  |  | 574.0 |  |  | (6.9) |  |  | 567.1
﻿Operating income |  |  | 292.5 |  |  | 76.5 |  |  | 369.0
﻿Income taxes |  |  | 34.4 |  |  | (30.3) |  |  | 4.1
﻿Net income |  | $ | 260.4 |  | $ | 106.8 |  | $ | 367.2
﻿Basic earnings per share |  | $ | 0.72 |  | $ | 0.30 |  | $ | 1.02
﻿Diluted earnings per share |  | $ | 0.72 |  | $ | 0.29 |  | $ | 1.01
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the nine months ended February 28, 2018
﻿ |  | As Previously |  |  |  |
﻿In millions, except per share amounts |  | Reported |  | Adjustments |  | As Adjusted
﻿Service revenue |  | $ | 2,464.0 |  | $ | 22.2 |  | $ | 2,486.2
﻿Operating expenses |  |  | 751.5 |  |  | 1.3 |  |  | 752.8
﻿Selling, general and administrative expenses |  |  | 788.6 |  |  | 1.2 |  |  | 789.8
﻿ Total expenses |  |  | 1,540.1 |  |  | 2.5 |  |  | 1,542.6
﻿Operating income |  |  | 969.7 |  |  | 19.7 |  |  | 989.4
﻿Income taxes |  |  | 270.6 |  |  | (51.5) |  |  | 219.1
﻿Net income |  | $ | 705.2 |  | $ | 71.2 |  | $ | 776.4
﻿Basic earnings per share |  | $ | 1.96 |  | $ | 0.20 |  | $ | 2.16
﻿Diluted earnings per share |  | $ | 1.95 |  | $ | 0.20 |  | $ | 2.15
﻿
Schedule of Recast of Selected Unaudited Consolidated Balance Sheet | ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | May 31, 2018
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | As Previously |  |  |  |
﻿In millions |  | Reported |  | Adjustments |  | As Adjusted
﻿Assets |  |  |  |  |  |  |  |  |
﻿Accounts receivable, net of allowance for doubtful accounts |  | $ | 531.4 |  | $ | (39.0) |  | $ | 492.4
﻿Prepaid expenses and other current assets |  | $ | 75.8 |  | $ | 148.2 |  | $ | 224.0
﻿Long-term deferred costs(1) |  | $ | 18.5 |  | $ | 342.5 |  | $ | 361.0
﻿Liabilities and stockholders' equity |  |  |  |  |  |  |  |  |
﻿Accounts payable |  | $ | 74.5 |  | $ | (0.8) |  | $ | 73.7
﻿Deferred revenue |  | $ | 24.3 |  | $ | 10.3 |  | $ | 34.6
﻿Deferred income taxes |  | $ | 48.8 |  | $ | 105.6 |  | $ | 154.4
﻿Other long-term liabilities |  | $ | 84.8 |  | $ | 4.3 |  | $ | 89.1
﻿Retained earnings |  | $ | 930.3 |  | $ | 332.3 |  | $ | 1,262.6
﻿ (1) Amounts were previously reported as a component of other long-term assets on the Consolidated Balance Sheets included in the Company’s fiscal 2018 Form 10-K. Long-term deferred costs are separately presented on the Consolidated Balance Sheets contained in this Form 10-Q.
ASU 2014-09 And 2016-18 [Member] |
Schedule of Recast of Selected Unaudited Consolidated Statement of Cash Flow | ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | For the nine months ended February 28, 2018
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  | ASU No. |  | ASU No. |  |  |
﻿ |  | As Previously |  | 2014-09 |  | 2016-18 |  |  |
﻿In millions |  | Reported |  | Adjustments |  | Adjustments |  | As Adjusted
﻿Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
﻿Net income |  | $ | 705.2 |  | $ | 71.2 |  | $ | — |  | $ | 776.4
﻿Amortization of deferred contract costs |  | $ | — |  | $ | 130.5 |  | $ | — |  | $ | 130.5
﻿Provision/(benefit) for deferred income taxes |  | $ | 6.5 |  | $ | (51.5) |  | $ | — |  | $ | (45.0)
﻿Accounts receivable |  | $ | (6.2) |  | $ | (21.6) |  | $ | — |  | $ | (27.8)
﻿Accounts payable and other current liabilities |  | $ | 80.9 |  | $ | 0.5 |  | $ | — |  | $ | 81.4
﻿Deferred costs |  | $ | — |  | $ | (128.5) |  | $ | — |  | $ | (128.5)
﻿Net change in other long-term assets and liabilities |  | $ | 3.4 |  | $ | (0.6) |  | $ | — |  | $ | 2.8
﻿Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in funds held for clients' money market securities and other cash equivalents |  | $ | (409.1) |  | $ | — |  | $ | 409.1 |  | $ | —
﻿Net cash provided by investing activities |  | $ | 24.4 |  | $ | — |  | $ | 409.1 |  | $ | 433.5
﻿Increase in cash, cash equivalents, restricted cash and restricted cash equivalents |  | $ | 139.3 |  | $ | — |  | $ | 409.1 |  | $ | 548.4
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of fiscal year |  | $ | 184.6 |  | $ | — |  | $ | 264.8 |  | $ | 449.4
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period |  | $ | 323.9 |  | $ | — |  | $ | 673.9 |  | $ | 997.8
﻿
ASU 2016-18 [Member] |
Schedule of Recast of Selected Unaudited Consolidated Statement of Cash Flow | ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the three months ended August 31, 2018
﻿ |  | As Previously |  |  |  |  |
﻿In millions |  | Reported |  | Adjustments |  | As Revised
﻿Cash flows from investing activities |  |  |  |  |  |  |  |  |
﻿Net change in funds held for clients’ money market securities and other cash equivalents |  | $ | 762.5 |  | $ | (762.5) |  | $ | —
﻿Net cash provided by investing activities |  | $ | 918.5 |  | $ | (762.5) |  | $ | 156.0
﻿Increase/(decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents |  | $ | 81.9 |  | $ | (762.5) |  | $ | (680.6)
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of fiscal year |  | $ | 358.2 |  | $ | 1,942.3 |  | $ | 2,300.5
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period |  | $ | 440.1 |  | $ | 1,179.8 |  | $ | 1,619.9
﻿ |  |  |  |  |  |  |  |  |
﻿Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the Consolidated Balance Sheets |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  |  |  |  |  |  |  | $ | 440.1
﻿Restricted cash and restricted cash equivalents included in funds held for clients |  |  |  |  |  |  |  |  | 1,179.8
﻿Total cash, cash equivalents, restricted cash and restricted cash equivalents |  |  |  |  |  |  |  | $ | 1,619.9
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the six months ended November 30, 2018
﻿ |  | As Previously |  |  |  |  |
﻿In millions |  | Reported |  | Adjustments |  | As Revised
﻿Cash flows from investing activities |  |  |  |  |  |  |  |  |
﻿Net change in funds held for clients’ money market securities and other cash equivalents |  | $ | 985.1 |  | $ | (985.1) |  | $ | —
﻿Net cash provided by investing activities |  | $ | 1,038.8 |  | $ | (985.1) |  | $ | 53.7
﻿Increase/(decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents |  | $ | 152.4 |  | $ | (985.1) |  | $ | (832.7)
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of fiscal year |  | $ | 358.2 |  | $ | 1,942.3 |  | $ | 2,300.5
﻿Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period |  | $ | 510.6 |  | $ | 957.2 |  | $ | 1,467.8
﻿ |  |  |  |  |  |  |  |  |
﻿Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the Consolidated Balance Sheets |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  |  |  |  |  |  |  | $ | 510.6
﻿Restricted cash and restricted cash equivalents included in funds held for clients |  |  |  |  |  |  |  |  | 957.2
﻿Total cash, cash equivalents, restricted cash and restricted cash equivalents |  |  |  |  |  |  |  | $ | 1,467.8
﻿

X
- Definition Schedule of New Accounting Pronouncements and Changes in Accounting Principles In Cash Flow Statement [Table Text Block] + References No definition available. + Details
Name: | payx_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesInCashFlowStatementTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of New Accounting Pronouncements and Changes in Accounting Principles In Income And Comprehensive Income Statements [Table Text Block] + References No definition available. + Details
Name: | payx_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesInIncomeAndComprehensiveIncomeStatementsTableTextBlock
Namespace Prefix: | payx_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201409Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=payx_Asu201409And201618Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201618Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |