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Quarterly Financial Data | 12 Months Ended
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May 31, 2020
Quarterly Financial Data [Abstract] |
Quarterly Financial Data | Note S — Quarterly Financial Data (Unaudited) In millions, except per share amounts
|  | Three Months Ended |  |  |
Fiscal 2020 |  | August 31 |  | November 30 |  | February 29 |  | May 31 |  | Full Year
Service revenue |  | $ | 971.5 |  | $ | 970.8 |  | $ | 1,121.5 |  | $ | 889.8 |  | $ | 3,953.6
Interest on funds held for clients |  |  | 20.5 |  |  | 19.9 |  |  | 21.2 |  |  | 25.3 |  |  | 86.9
Total revenue |  | $ | 992.0 |  | $ | 990.7 |  | $ | 1,142.7 |  | $ | 915.1 |  | $ | 4,040.5
Operating income |  | $ | 349.1 |  | $ | 341.7 |  | $ | 470.1 |  | $ | 299.6 |  | $ | 1,460.5
Other expense, net |  |  | (4.8) |  |  | (4.7) |  |  | (5.9) |  |  | (8.0) |  |  | (23.4)
Income before income taxes |  |  | 344.3 |  |  | 337.0 |  |  | 464.2 |  |  | 291.6 |  |  | 1,437.1
Income taxes |  |  | 80.1 |  |  | 78.3 |  |  | 109.7 |  |  | 70.9 |  |  | 339.0
Net income |  | $ | 264.2 |  | $ | 258.7 |  | $ | 354.5 |  | $ | 220.7 |  | $ | 1,098.1
Basic earnings per share(1) |  | $ | 0.74 |  | $ | 0.72 |  | $ | 0.99 |  | $ | 0.62 |  | $ | 3.06
Diluted earnings per share(1) |  | $ | 0.73 |  | $ | 0.72 |  | $ | 0.98 |  | $ | 0.61 |  | $ | 3.04
Weighted-average common shares ‎ outstanding |  |  | 358.6 |  |  | 358.1 |  |  | 358.5 |  |  | 358.7 |  |  | 358.5
Weighted-average common shares ‎ outstanding, assuming dilution |  |  | 361.5 |  |  | 360.6 |  |  | 361.0 |  |  | 360.7 |  |  | 361.0
Cash dividends per common share |  | $ | 0.62 |  | $ | 0.62 |  | $ | 0.62 |  | $ | 0.62 |  | $ | 2.48
Total net realized gains(2) |  | $ | 0.9 |  | $ | 0.9 |  | $ | 0.6 |  | $ | 8.9 |  | $ | 11.3
|  | 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
Other 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(1) |  | $ | 0.68 |  | $ | 0.66 |  | $ | 0.90 |  | $ | 0.64 |  | $ | 2.88
Diluted earnings per share(1) |  | $ | 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)(2) |  | $ | 0.1 |  | $ | (0.3) |  | $ | 0.1 |  | $ | 0.1 |  | $ | —
(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/(losses) on the combined funds held for clients and corporate investment portfolios.

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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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