v3.19.2

Revenue Recognition (Tables)

12 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

	Fiscal Year Ended June 30, 2019
	(in millions)
Investor Communication Solutions
Equity proxy	$	437.0
Mutual fund and exchange traded funds (“ETF”) interims	265.9
Customer communications and fulfillment	736.4
Other ICS	366.5
Total ICS Recurring fee revenues	1,805.8
Equity and other	107.3
Mutual funds	137.2
Total ICS Event-driven fee revenues	244.5
Distribution revenues	1,460.8
Total ICS Revenues	$	3,511.1
Global Technology and Operations
Equities and other	$	788.9
Fixed income	164.6
Total GTO Recurring fee revenues	953.5
Foreign currency exchange	(102.4		)
Total Revenues	$	4,362.2
Revenues by Type
Recurring fee revenues	$	2,759.3
Event-driven fee revenues	244.5
Distribution revenues	1,460.8
Foreign currency exchange	(102.4		)
Total Revenues	$	4,362.2

Contract Assets and Liabilities

The following table provides information about contract assets and liabilities:

	June 30, 2019				July 1, 2018
	(in millions)
Contract assets	$	47.5			$	35.5
Contract liabilities	$	251.6			$	162.8

Summary of the Impact of ASU No. 2014-09 on Financial Statements

The following tables summarize the impact of ASU No. 2014-09 adoption on the Company’s Consolidated Statement of Earnings for the fiscal year ended June 30, 2019.

	Fiscal Year Ended June 30, 2019
	As reported				Effects of ASU 2014-09				Without Effects of ASU No. 2014-09
	(in millions)
Consolidated Statement of Earnings
Revenues (1)	$	4,362.2			$	101.1			$	4,463.3
Cost of revenues	3,131.9				15.8				3,147.8
Selling, general and administrative expenses	577.5				8.0				585.5
Operating income	652.7				77.4				730.0
Earnings before income taxes	607.3				77.4				684.6
Provision for income taxes	125.2				19.1				144.3
Net earnings	$	482.1			$	58.2			$	540.3
Basic earnings per share	$	4.16			$	0.50			$	4.66
Diluted earnings per share	$	4.06			$	0.49			$	4.55

(1) The effects of ASU No. 2014-09 on revenues includes contract modifications.

The following table summarizes the impact of ASU No. 2014-09 adoption on the Company’s Consolidated Balance Sheet as of June 30, 2019.

	As reported				Effects of ASU 2014-09				Without Effects of ASU No. 2014-09
	(in millions)
Consolidated Balance Sheet
Assets:
Current assets	$	1,042.3			$	1.2			$	1,043.5
Total assets	$	3,880.7			$	(127.8	)		$	3,752.9
Liabilities:
Current liabilities	$	802.6			$	(3.4	)		$	799.2
Total liabilities	$	2,753.2			$	(82.6	)		$	2,670.6
Stockholders’ equity:
Total stockholders’ equity	$	1,127.5			$	(45.2	)		$	1,082.3

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