AUTOMATIC DATA PROCESSING INC, 10-K filed on 8/6/2025
Annual Report
v3.25.2
Cover Page - USD ($)
 12 Months Ended
Jun. 30, 2025
Aug. 01, 2025
Dec. 31, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jun. 30, 2025    
Current Fiscal Year End Date --06-30    
Document Transition Report false    
Entity File Number 1-5397    
Entity Registrant Name AUTOMATIC DATA PROCESSING, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 22-1467904    
Entity Address, Address Line One One ADP Boulevard    
Entity Address, City or Town Roseland,    
Entity Address, State or Province NJ    
Entity Address, Postal Zip Code 07068    
City Area Code 973    
Local Phone Number 974-5000    
Title of 12(b) Security Common Stock, $0.10 Par Value(voting)    
Trading Symbol ADP    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 118,988,796,446
Entity Common Stock, Shares Outstanding   405,043,142  
Documents Incorporated by Reference
Portions of the Registrant's Proxy Statement for its 2025 Annual Meeting of Stockholders.Part III
    
Amendment Flag false    
Entity Central Index Key 0000008670    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.2
Audit Information
 12 Months Ended
Jun. 30, 2025
Auditor Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Morristown, New Jersey
Auditor Firm ID 34
v3.25.2
Statements of Consolidated Earnings - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
REVENUES:      
Revenues $ 20,560.9 $ 19,202.6 $ 18,012.2
Costs of revenues:      
Operating expenses 9,622.7 9,050.1 8,657.4
Research and development 988.6 955.7 844.8
Depreciation and amortization 486.0 470.9 451.2
TOTAL COSTS OF REVENUES 11,097.3 10,476.7 9,953.4
Selling, general, and administrative expenses 4,051.7 3,778.9 3,551.4
Interest expense 455.9 361.4 253.3
TOTAL EXPENSES 15,604.9 14,617.0 13,758.1
Other (income)/expense, net (354.1) (286.7) (183.5)
EARNINGS BEFORE INCOME TAXES 5,310.1 4,872.3 4,437.6
Provision for income taxes 1,230.4 1,120.3 1,025.6
NET EARNINGS $ 4,079.7 $ 3,752.0 $ 3,412.0
BASIC EARNINGS PER SHARE (in dollars per share) $ 10.02 $ 9.14 $ 8.25
DILUTED EARNINGS PER SHARE (in dollars per share) $ 9.98 $ 9.10 $ 8.21
Basic weighted average shares outstanding (in shares) 407.1 410.6 413.7
Diluted weighted average shares outstanding (in shares) 408.7 412.2 415.7
Revenues, other than interest on funds held for clients and PEO revenues      
REVENUES:      
Revenues $ 12,692.2 $ 11,953.6 $ 11,222.0
Interest on funds held for clients      
REVENUES:      
Revenues 1,189.1 1,024.7 813.4
PEO revenues      
REVENUES:      
Revenues [1] $ 6,679.6 $ 6,224.3 $ 5,976.8
[1] For the years ended June 30, 2025 (“fiscal 2025”), June 30, 2024 (“fiscal 2024”), and June 30, 2023 (“fiscal 2023”), Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes, of $75,220.1 million, $69,874.1 million, and $66,731.7 million, respectively.
v3.25.2
Statements of Consolidated Earnings (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]      
Direct pass-through costs, Professional Employer Organization revenues $ 75,220.1 $ 69,874.1 $ 66,731.7
v3.25.2
Statements of Consolidated Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net earnings $ 4,079.7 $ 3,752.0 $ 3,412.0
Other comprehensive income/(loss):      
Currency translation adjustments 89.0 (38.0) 13.4
Unrealized net gains/(losses) on available-for-sale securities 1,088.4 685.2 (500.3)
Tax effect (250.7) (162.2) 113.3
Reclassification of realized net losses on available-for-sale securities to net earnings 1.7 5.9 14.7
Tax effect (0.3) (1.3) (3.3)
Unrealized losses on cash flow hedging activities (15.6) 0.0 0.0
Tax effect 3.8 0.0 0.0
Amortization of unrealized losses on cash flow hedging activities 5.4 4.4 4.4
Tax effect (1.3) (1.1) (1.1)
Pension net gains arising during the year 8.5 5.6 60.3
Tax effect (2.1) (1.1) (13.3)
Reclassification of pension liability adjustment to net earnings (2.4) 0.1 (0.4)
Tax effect 0.5 0.0 0.2
Other comprehensive income/(loss), net of tax 924.9 497.5 (312.1)
Comprehensive income $ 5,004.6 $ 4,249.5 $ 3,099.9
v3.25.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 3,347,800,000 $ 2,913,400,000
Short-term marketable securities 4,498,800,000 384,000,000.0
Accounts receivable, net of allowance for doubtful accounts of $47.1 and $52.2, respectively 3,579,100,000 3,428,200,000
Other current assets 840,800,000 820,800,000
Total current assets before funds held for clients 12,266,500,000 7,546,400,000
Funds held for clients 30,985,700,000 37,996,100,000
Total current assets 43,252,200,000 45,542,500,000
Long-term receivables, net of allowance for doubtful accounts of $0.1 and $0.1, respectively 4,400,000 7,300,000
Property, plant and equipment, net 655,400,000 685,600,000
Operating lease right-of-use asset 374,100,000 370,600,000
Deferred contract costs 3,154,100,000 2,965,000,000
Other assets 1,052,600,000 1,102,100,000
Goodwill 3,273,500,000 2,353,600,000
Intangible assets, net 1,603,000,000 1,336,000,000
Total assets 53,369,300,000 54,362,700,000
Current liabilities:    
Accounts payable 169,100,000 100,600,000
Accrued expenses and other current liabilities 3,092,400,000 3,350,100,000
Accrued payroll and payroll-related expenses 973,100,000 958,700,000
Dividends payable 620,600,000 566,400,000
Short-term deferred revenues 262,800,000 199,800,000
Obligations under reverse repurchase agreements [1] 38,400,000 385,400,000
Obligations under commercial paper borrowings 4,769,500,000 0
Income taxes payable 9,100,000 15,100,000
Total current liabilities before client funds obligations 9,935,000,000 5,576,100,000
Client funds obligations 31,343,300,000 39,503,900,000
Total current liabilities 41,278,300,000 45,080,000,000
Long-term debt 3,974,700,000 2,991,300,000
Operating lease liabilities 321,200,000 328,600,000
Other liabilities 1,058,300,000 990,800,000
Deferred income taxes 163,600,000 64,300,000
Long-term deferred revenues 385,200,000 360,100,000
Total liabilities 47,181,300,000 49,815,100,000
Commitments and Contingencies (Note 13)
Stockholders' equity:    
Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none 0 0
Common stock, $0.10 par value: authorized,1,000.0 shares; issued, 638.7 shares at June 30, 2025 and June 30, 2024; outstanding, 405.3 and 408.1 shares at June 30, 2025 and June 30, 2024, respectively 63,900,000 63,900,000
Capital in excess of par value 2,788,300,000 2,406,900,000
Retained earnings 25,240,600,000 23,622,200,000
Treasury stock - at cost: 233.4 and 230.6 shares at June 30, 2025 and June 30, 2024, respectively (21,021,400,000) (19,737,100,000)
Accumulated other comprehensive (loss)/income (883,400,000) (1,808,300,000)
Total stockholders’ equity 6,188,000,000 4,547,600,000
Total liabilities and stockholders’ equity $ 53,369,300,000 $ 54,362,700,000
[1] As of June 30, 2025, $38.4 million of short-term marketable securities have been pledged as collateral under the Company's reverse repurchase agreements. As of June 30, 2024, $384.0 million of short-term marketable securities and $1.4 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 9).
v3.25.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts, current $ 47.1 $ 52.2
Allowance for doubtful accounts, long-term $ 0.1 $ 0.1
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, shares authorized 300,000 300,000
Preferred stock, shares issued 0 0
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized 1,000,000,000 1,000,000,000
Common stock, shares issued 638,700,000 638,700,000
Common stock, shares outstanding 405,300,000 408,100,000
Treasury stock, shares 233,400,000 230,600,000
Short-term marketable securities under reverse repurchase agreements $ 38.4 $ 384.0
Cash and cash equivalents under reverse repurchase agreements   $ 1.4
v3.25.2
Statements of Consolidated Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Capital in Excess of Par Value
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income/(Loss)
Common stock, shares issued, beginning of period at Jun. 30, 2022   638.7        
Beginning balance at Jun. 30, 2022   $ 63.9 $ 1,794.2 $ 20,696.3 $ (17,335.4) $ (1,993.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings $ 3,412.0     3,412.0    
Other comprehensive income (loss) (312.1)         (312.1)
Stock-based compensation expense     196.3      
Issuances relating to stock compensation plans     111.8   63.3  
Treasury stock acquired         (1,197.2)  
Dividends       (1,990.3)    
Common stock, shares issued, end of period at Jun. 30, 2023   638.7        
Ending balance at Jun. 30, 2023   $ 63.9 2,102.3 22,118.0 (18,469.3) (2,305.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings 3,752.0     3,752.0    
Other comprehensive income (loss) $ 497.5         497.5
Stock-based compensation expense     219.3      
Issuances relating to stock compensation plans     85.3   63.1  
Treasury stock acquired         (1,330.9)  
Dividends       (2,247.8)    
Common stock, shares issued, end of period at Jun. 30, 2024 638.7 638.7        
Ending balance at Jun. 30, 2024 $ 4,547.6 $ 63.9 2,406.9 23,622.2 (19,737.1) (1,808.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings 4,079.7     4,079.7    
Other comprehensive income (loss) $ 924.9         924.9
Stock-based compensation expense     234.9      
Issuances relating to stock compensation plans     146.5   73.0  
Treasury stock acquired         (1,357.3)  
Dividends       (2,461.3)    
Common stock, shares issued, end of period at Jun. 30, 2025 638.7 638.7        
Ending balance at Jun. 30, 2025 $ 6,188.0 $ 63.9 $ 2,788.3 $ 25,240.6 $ (21,021.4) $ (883.4)
v3.25.2
Statements of Consolidated Stockholders' Equity (Parenthetical) - $ / shares
shares in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]      
Treasury stock, shares repurchased (in shares) 4.4 5.1 4.9
Dividends (in dollars per share) $ 6.02 $ 5.45 $ 4.79
v3.25.2
Statements of Consolidated Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:      
Net earnings $ 4,079.7 $ 3,752.0 $ 3,412.0
Adjustments to reconcile net earnings to cash flows provided by operating activities:      
Depreciation and amortization 582.4 561.9 549.3
Amortization of deferred contract costs 1,145.3 1,067.6 992.9
Deferred income taxes 37.0 (37.4) (80.1)
Stock-based compensation expense 266.1 243.5 220.4
Bad debt expense 53.2 54.6 44.0
Net pension income (19.7) (22.9) (42.6)
Net accretion of discounts and amortization of premiums on available-for-sale securities (72.2) (42.6) 23.0
Other 13.4 (1.7) 27.4
Changes in operating assets and liabilities:      
(Increase)/decrease in accounts receivable (146.6) (483.7) 129.2
Increase in deferred contract costs (1,290.3) (1,271.2) (1,189.2)
Increase in other assets (59.8) (157.2) (168.2)
Increase/(decrease) in accounts payable 60.6 1.8 (11.8)
Increase in accrued expenses and other liabilities 290.6 492.9 301.3
Net cash flows provided by operating activities 4,939.7 4,157.6 4,207.6
Cash Flows from Investing Activities:      
Purchases of corporate and client funds marketable securities (7,857.9) (6,835.3) (6,618.8)
Proceeds from the sales and maturities of corporate and client funds marketable securities 6,539.1 6,039.5 4,705.5
Capital expenditures (168.7) (208.4) (206.3)
Additions to intangibles (378.3) (355.0) (365.3)
Acquisitions of businesses, net of cash acquired (1,165.1) (33.6) (32.4)
Proceeds from the sale of property, plant, and equipment and other assets 10.8 28.3 0.0
Other (14.9) (24.5) 0.0
Net cash flows used in investing activities (3,035.0) (1,389.0) (2,517.3)
Cash Flows from Financing Activities:      
Net (decrease)/increase in client funds obligations (8,274.0) 1,014.1 (12,701.6)
Net cash (distributed)/received from the Internal Revenue Service (552.2) 602.7 0.0
Payments of debt (1,001.2) (0.9) (1.0)
Proceeds from the issuance of debt 1,980.3 0.0 0.0
Settlement of cash flow hedges (15.6) 0.0 0.0
Repurchases of common stock (1,280.5) (1,231.7) (1,121.4)
Net proceeds from stock purchase plan and stock-based compensation plans 131.0 47.2 91.6
Dividends paid (2,398.9) (2,183.1) (1,903.6)
Net (payments)/proceeds related to reverse repurchase agreements (331.8) 320.0 (44.7)
Net proceeds from issuance of commercial paper 4,769.5 0.0 0.0
Net cash flows used in financing activities (6,973.4) (1,431.7) (15,680.7)
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents 37.3 (22.4) (21.1)
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents (5,031.4) 1,314.5 (14,011.5)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of year 10,086.0 8,771.5 22,783.0
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of year 5,054.6 10,086.0 8,771.5
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets      
Cash and cash equivalents 3,347.8 2,913.4 2,083.5
Restricted cash and restricted cash equivalents included in funds held for clients [1] 1,706.8 7,172.6 6,688.0
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 5,054.6 10,086.0 8,771.5
Supplemental disclosures of cash flow information:      
Cash paid for interest 426.8 353.9 246.5
Cash paid for income taxes, net of income tax refunds $ 1,198.0 $ 1,185.2 $ 1,080.7
[1] See Note 5 for a reconciliation of restricted cash and restricted cash equivalents in funds held for clients on the Consolidated Balance Sheets.
v3.25.2
Summary of Significant Accounting Policies
 12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Basis of Preparation. The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc., its subsidiaries and variable interest entity (“ADP” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Intercompany balances and transactions have been eliminated in consolidation.

The Company has a grantor trust, which holds the majority of the funds provided by its clients pending remittance to employees of those clients, tax authorities, and other payees. The Company is the sole beneficial owner of the trust. The trust meets the criteria in Accounting Standards Codification (“ASC”) 810, “Consolidation” to be characterized as a variable interest entity (“VIE”). The Company has determined that it has a controlling financial interest in the trust because it has both (1) the power to direct the activities that most significantly impact the economic performance of the trust (including the power to make all investment decisions for the trust) and (2) the right to receive benefits that could potentially be significant to the trust (in the form of investment returns) and therefore, consolidates the trust. Further information on these funds and the Company’s obligations to remit to its clients’ employees, tax authorities, and other payees is provided in Note 5, “Corporate Investments and Funds Held for Clients.”

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the assets, liabilities, revenues, expenses, and other comprehensive income that are reported in the Consolidated Financial Statements and footnotes thereto. Actual results may differ from those estimates.

Certain amounts from the comparative financial statements have been reclassified in order to conform to the current year's presentation.

B. Description of Business. The Company is a provider of cloud-based Human Capital Management (“HCM”) solutions. The Company classifies its operations into the following two reportable segments: Employer Services and Professional Employer Organization (“PEO”) Services. The primary components of the "Other" category include certain corporate overhead charges and expenses that have not been allocated to the reportable segments, including corporate functions, legal settlements, severance costs, non-recurring gains and losses, the elimination of intercompany transactions, and interest expense.

C. Revenue Recognition. Revenues are primarily attributable to fees for providing services (e.g., Employer Services' payroll processing fees), investment income on payroll funds, payroll tax filing funds, other Employer Services' client-related funds, and fees charged to implement clients on the Company's solutions. The Company enters into agreements for a fixed fee per transaction (e.g., number of payees).

The Company enters into service agreements with clients that include anywhere from one service to a full suite of services. The Company’s agreements vary in duration having a legally enforceable term of 30 days to 7 years. The performance obligations in the agreements are generally combined into one performance obligation, as they are considered a series of distinct services, and are satisfied over time because the client simultaneously receives and consumes the benefits provided as the Company performs the services. The Company uses the output method based on a fixed fee per employee serviced to recognize revenue, as the value to the client of the goods or services transferred to date (e.g., number of payees) appropriately depicts our performance towards complete satisfaction of the performance obligation. The fees are typically billed in the period in which services are performed.

PEO, a component of the HR Outsourcing (“HRO”) business, provides a comprehensive human resources outsourcing solution, including offering benefits, providing workers’ compensation insurance, and administering state unemployment insurance, among other human resources functions. Amounts collected from PEO worksite employers include payroll and payroll taxes, fees for benefits, and an administrative fee that also includes payroll taxes, fees for workers’ compensation and state unemployment taxes.

The payroll and payroll taxes collected from the worksite employers are presented in revenue net, as the Company does not retain risk and acts as an agent with respect to this aspect of the PEO arrangement. With respect to the payroll and payroll taxes, the PEO worksite employer is primarily responsible for providing the service and has discretion in establishing wages.
The fees collected from the worksite employers for benefits (i.e., PEO zero-margin benefits pass-throughs), workers’ compensation and state unemployment taxes are presented in revenues and the associated costs of benefits, workers’ compensation and state unemployment taxes are included in operating expenses, as the Company does retain risk and acts as a principal with respect to this aspect of the arrangement. With respect to these fees, the Company is primarily responsible for fulfilling the service and has discretion in establishing price.

We recognize client fund interest income on collected but not yet remitted funds held for clients in revenues as earned, as the collection, holding and remittance of these funds are critical components of providing these services.

Set up fees received from certain clients to implement the Company's solutions are considered a material right. Therefore, the Company defers revenue associated with these set up fees and records them over the period in which such clients are expected to benefit from the material right, which is approximately five to seven years.

Collection of consideration the Company expects to receive to perform its services typically occurs within 30 to 60 days of billing. We assess the collectability of revenues based primarily on the creditworthiness of the customer as determined by credit checks and analysis, as well as the customer's payment history and their intention to pay the consideration.
D. Deferred Costs.
Incremental Costs of Obtaining a Contract

Incremental costs of obtaining a contract (e.g., sales commissions) that are expected to be recovered are capitalized and amortized on a straight-line basis over a period of three to eight years, depending on the business unit. Incremental costs of obtaining a contract include only those costs the Company incurs to obtain a contract that it would not have incurred if the contract had not been obtained. These costs are included in selling, general and administrative expenses.
Costs to fulfill a Contract

The Company capitalizes costs incurred to fulfill its contracts that i) relate directly to the contract ii) are expected to generate resources that will be used to satisfy the Company's performance obligations under the contract and iii) are expected to be recovered through revenue generated under the contract. Costs incurred to implement clients on our solutions (e.g., direct labor) are capitalized and amortized on a straight-line basis over the expected client relationship period if the Company expects to recover those costs. The expected client relationship period ranges from three to eight years. These costs are included in operating expenses.
The Company has estimated the amortization periods for the deferred costs by using its historical client retention by business units to estimate the pattern during which the service transfers.
E. Cash and Cash Equivalents. Highly liquid investment securities with a maturity of ninety days or less at the time of purchase are considered cash equivalents. The fair value of our cash and cash equivalents approximates carrying value.

F. Corporate Investments and Funds Held for Clients. All of the Company's marketable securities are considered to be “available-for-sale” and, accordingly, are carried on the Consolidated Balance Sheets at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) on the Consolidated Balance Sheets until realized. Realized gains and losses from the sale of available-for-sale securities are determined on an aggregate approach basis and are included in other (income)/expense, net on the Statements of Consolidated Earnings.

If the fair value of an available-for-sale debt security is below its amortized cost, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery. If either of those two conditions is met, the Company would recognize a charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value. If the Company does not intend to sell a security or it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in accumulated other comprehensive income (loss).

Premiums and discounts are amortized or accreted over the life of the related available-for-sale security as an adjustment to the yield using the effective-interest method. Dividend and interest income are recognized when earned.
G. Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date and is based upon the Company’s principal, or most advantageous, market for a specific asset or liability.

U.S. GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows:

Level 1 Fair value is determined based upon quoted prices for identical assets or liabilities that are traded in active markets.

Level 2 Fair value is determined based upon inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
· quoted prices for similar assets or liabilities in active markets;
· quoted prices for identical or similar assets or liabilities in markets that are not active;
· inputs other than quoted prices that are observable for the asset or liability; or
· inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Fair value is determined based upon inputs that are unobservable and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based upon the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).

The Company's corporate investments and funds held for clients (see Note 5) are measured at fair value on a recurring basis as described below. Over 99% of the Company's available-for-sale securities included in Level 2 are valued based on prices obtained from an independent pricing service. To determine the fair value of the Company's Level 2 investments, the independent pricing service uses pricing models for each asset class that are consistent with what other market participants would use, including the market approach. Inputs and assumptions to the pricing model used by the independent pricing service are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other market-related data. Since many fixed income securities do not trade on a daily basis, the independent pricing service applies available information, as applicable, through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to prepare valuations. For the purposes of valuing the Company’s asset-backed securities and mortgage-backed securities (that are included within Other securities in Note 5), the independent pricing service includes additional inputs to the model such as monthly payment information, new issue data, and collateral performance. For the purposes of valuing the Company’s Municipal bonds, the independent pricing service includes quoted prices for similar assets, benchmark yield curves, and market corroborated inputs. While the Company is not provided access to the proprietary models of the third party pricing service, each quarterly reporting period, the Company reviews the inputs utilized by the independent pricing service and compares the valuations received from the independent pricing service to valuations from at least one other observable source for reasonableness. The Company has not adjusted the prices obtained from the independent pricing service and the Company believes the prices received from the independent pricing service are representative of the prices that would be received to sell the assets at the measurement date (exit price). The Company had no available-for-sale securities included in Level 1 and Level 3 at June 30, 2025.

The Company issued four series of fixed-rate notes with staggered maturities of 7 and 10-years totaling $4.0 billion (collectively the “Notes”). The fair value of the Notes are estimated in Note 10 utilizing a variety of inputs obtained from an independent pricing service, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually. The Company reviews the values generated by the independent pricing service for reasonableness by comparing the valuations received from the independent pricing service to valuations from at least one other observable source. The Company has not adjusted the prices obtained from the independent pricing service.

The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy. In certain instances, the inputs used to measure fair value may meet the definition of more than one level of the fair value hierarchy. The significant input with the lowest level priority is used to determine the applicable level in the fair value hierarchy.

H. Property, Plant and Equipment. Property, plant and equipment is stated at cost less accumulated depreciation on the Consolidated Balance Sheets. Depreciation is recognized over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the
improvements. The estimated useful lives of assets are primarily as follows:
Data processing equipment
5 to 10 years
Buildings
20 to 40 years
Furniture and fixtures
4 to 7 years
I. Leases. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. The lease liabilities are measured by discounting future lease payments at the Company’s collateralized incremental borrowing rate for financing instruments of a similar term, unless the implicit rate is readily determinable. ROU assets also include adjustments related to prepaid or deferred lease payments and lease incentives. Lease ROU assets are amortized over the life of the lease and assessed for impairment in the event there is a modification or an early termination.

J. Goodwill. Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is tested annually for impairment or more frequently when an event or circumstance indicates that goodwill might be impaired.

The Company's annual goodwill impairment assessment as of June 30, 2025 was performed for all reporting units using a quantitative approach by comparing the fair value of each reporting unit to its carrying value. We estimated the fair value of each reporting unit using, as appropriate, the income approach, which is derived using the present value of future cash flows discounted at a risk-adjusted weighted-average cost of capital, and the market approach, which is based upon using market multiples of companies in similar lines of business. Significant assumptions used in determining the fair value of our reporting units include projected revenue growth rates, profitability projections, working capital assumptions, the weighted average cost of capital, the determination of appropriate market comparison companies, and terminal growth rates. Several of these assumptions, including projected revenue growth rates and profitability projections are dependent on our ability to upgrade, enhance, and expand our technology and services to meet client needs and preferences. As such, the determination of fair value requires management to make significant estimates and assumptions related to forecasts of future revenue and operating margins. Based upon the quantitative assessment, the Company has concluded that goodwill is not impaired.
K. Impairment of Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.
L. Foreign Currency. The net assets of the Company's foreign subsidiaries are translated into U.S. dollars based on exchange rates in effect for each period, and revenues and expenses are translated at average exchange rates in the periods. Gains or losses from balance sheet translation are included in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. Currency transaction gains or losses, which are included in the results of operations, are not significant for all periods presented.

M. Foreign Currency Risk Management Programs and Derivative Financial Instruments. The Company transacts business in various foreign jurisdictions and is therefore exposed to market risk from changes in foreign currency exchange rates that could impact its consolidated results of operations, financial position, or cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company does not use derivative financial instruments for trading purposes.
N. Earnings per Share (“EPS”). The Company computes EPS in accordance with ASC 260.

The calculations of basic and diluted EPS are as follows:
Years ended June 30,BasicEffect of Employee Stock Option SharesEffect of
Employee
Restricted
Stock
Shares		Diluted
2025    
Net earnings$4,079.7   $4,079.7 
Weighted average shares (in millions)407.1 0.6 1.0 408.7 
EPS$10.02   $9.98 
2024    
Net earnings$3,752.0   $3,752.0 
Weighted average shares (in millions)410.6 0.7 0.9 412.2 
EPS$9.14   $9.10 
2023    
Net earnings$3,412.0   $3,412.0 
Weighted average shares (in millions)413.7 0.9 1.1 415.7 
EPS$8.25   $8.21 

Shares that could potentially dilute basic EPS in the future include outstanding share-based compensation awards, discussed in Note 11. For fiscal 2025 and 2024, there were no shares excluded from the calculation of diluted EPS, and in fiscal 2023, there were 0.2 million shares excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive.
    
O. Stock-Based Compensation. The Company recognizes stock-based compensation expense in net earnings based on the fair value of the award on the date of the grant, and in the case of international units settled in cash, adjusts this fair value based on changes in the Company's stock price during the vesting period. Time-based restricted stock units are valued based on the closing price of the Company's common stock on the date of the grant and, in the case of performance based restricted stock units, are valued based on the grant date fair value of such awards and are adjusted for changes to probabilities of achieving performance targets. See Note 11 for additional information on the Company's stock-based compensation programs.

P. Internal Use Software. Expenditures for major software purchases and software developed or obtained for internal use are capitalized and amortized generally over a three to five-year period on a straight-line basis. Software developed as part of the Company's next-generation platforms are depreciated over ten years. The Company begins to capitalize costs incurred for computer software developed for internal use when the preliminary development efforts are successfully completed, management has authorized and committed to funding the project, and it is probable that the project will be completed and the software will be used as intended. Capitalization ceases when a computer software project is substantially complete and ready for its intended use.

The Company's policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. The Company also expenses internal costs related to minor upgrades and enhancements, as it is impractical to separate these costs from normal maintenance activities.

Fees related to cloud-based subscriptions for which the Company has the right to take possession of the software at any time during the hosting period (without significant penalty) and can run the software on internal hardware, or through contract with a third party vendor to host the software, is recognized as an intangible asset and capitalized following the Internal Use Software guidance under ASC 350-40. Subscriptions where the Company accesses the software through the cloud but cannot take
possession of the software during the hosting period is treated as a service contract, and as such hosting fees are treated as expense.

Q. Acquisitions. Assets acquired and liabilities assumed in business combinations are recorded on the Company’s Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates. The results of operations of businesses acquired by the Company are included in the Statements of Consolidated Earnings since their respective dates of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed is allocated to goodwill. In certain circumstances, the allocations of the excess purchase price are based upon preliminary estimates and assumptions and subject to revision when the Company receives final information, including appraisals and other analysis. Accordingly, the measurement period for such purchase price allocations will end when the information, or the facts and circumstances, becomes available, but will not exceed twelve months.

R. Income Taxes. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity's financial statements or tax returns. Judgment is required in addressing the future tax consequences of events that have been recognized in our Consolidated Financial Statements or tax returns (e.g., realization of deferred tax assets, changes in tax laws or interpretations thereof). A change in the assessment of the outcomes of such matters could materially impact our Consolidated Financial Statements.

There is a financial statement recognition threshold and measurement attribute for tax positions taken or expected to be taken in a tax return. Specifically, the likelihood of an entity's tax benefits being sustained must be “more likely than not,” assuming that these positions will be examined by tax authorities with full knowledge of all relevant information prior to recording the related tax benefit in the financial statements. If a tax position drops below the “more likely than not” standard, the benefit can no longer be recognized. Assumptions, judgment, and the use of estimates are required in determining if the “more likely than not” standard has been met when developing the provision for income taxes. As of June 30, 2025 and 2024, the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $163.0 million and $126.9 million, respectively.

S. Workers’ Compensation Costs. The Company employs a third-party actuary to assist in determining the estimated claim liability related to workers’ compensation and employer's liability coverage for PEO Services worksite employees. In estimating ultimate loss rates, we utilize historical loss experience, exposure data, and actuarial judgment, together with a range of inputs which are primarily based upon the worksite employee's job responsibilities, their location, the historical frequency and severity of workers’ compensation claims, and an estimate of future cost trends. For each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers’ compensation claims cost estimates. PEO Services has secured a workers’ compensation and employer’s liability insurance policy that caps the exposure for each claim at $1 million per occurrence and has also secured aggregate stop loss insurance that caps aggregate losses at a certain level in fiscal years 2012 and prior from an admitted and licensed insurance company of AIG. The Company has obtained approximately $351 million of irrevocable standby letters of credit in favor of licensed insurance companies of AIG to secure TotalSource workers’ compensation obligations if ADP were to fail to reimburse AIG for workers’ compensation payments. The Company had no drawdowns during June 30, 2025 and 2024 under the letters of credit.

Additionally, starting in fiscal 2013, ADP Indemnity paid premiums to enter into reinsurance arrangements with ACE American Insurance Company, a wholly-owned subsidiary of Chubb Limited, to cover substantially all losses incurred by the Company up to the $1 million per occurrence related to workers’ compensation and employer's liability deductible reimbursement insurance protection for PEO services worksite employees. Each of these reinsurance arrangements limit our overall exposure incurred up to a certain limit. The Company believes the likelihood of ultimate losses exceeding this limit is remote. ADP Indemnity paid a premium of $276 million to enter into a reinsurance arrangement with Chubb Limited to cover substantially all losses incurred by ADP Indemnity for the fiscal 2025 policy year up to $1 million per occurrence. ADP Indemnity paid a premium of $278 million in July 2025 to enter into a reinsurance arrangement to cover substantially all losses for the fiscal 2026 policy year on terms substantially similar to the fiscal 2025 policy.

T. Contingencies. In the normal course of business, the Company is subject to loss contingencies, such as claims and assessments arising from litigation and other legal proceedings, contractual indemnities, and tax matters. Accruals for loss contingencies are recorded when the Company determines that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the estimate of the amount of the loss is a range and some amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued as a liability. If no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued as a liability. These accruals are adjusted periodically as assessments change or additional information becomes available. The loss contingencies are included in selling, general and administrative expenses.
If no accrual is made for a loss contingency because the amount of loss cannot be reasonably estimated, the Company will disclose material contingent liabilities when there is at least a reasonable possibility that a loss or an additional loss may have been incurred.

Legal fees and other costs related to litigation and other legal proceedings or services are expensed as incurred and are included in selling, general and administrative expenses.

Any claim for insurance recovery is recognized only when realization becomes probable.

U. Recently Issued Accounting Pronouncements.

Recently Adopted Accounting Pronouncements

Effective June 30, 2025, the Company adopted accounting standard update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This update resulted in enhanced disclosures about the Company's reportable segments. The adoption of ASU 2023-07 did not have a material impact on the Company's consolidated results of operations, financial condition, or cash flows. Refer to Note 15 for further details.

Recently Issued Accounting Pronouncements

StandardDescriptionEffective DateEffect on Financial Statements or Other Significant Matters
ASU 2024-03 Disaggregation of Income Statement Expenses (Subtopic 220-40)This update improves financial reporting by requiring enhanced disclosures of the expense captions in the Income Statement within the Notes to the financial statements.June 30, 2028
(fiscal 2028)		The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThis update enhances the transparency and decision usefulness of income tax disclosures to better assess how an entity’s operations and related tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flows. June 30, 2026
(fiscal 2026)		The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
v3.25.2
Revenue
 12 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Based upon similar operational and economic characteristics, the Company’s revenues are disaggregated as follows: Human Capital Management (“HCM”), HR Outsourcing (“HRO”), and Global Solutions (“Global”), with separate disaggregation for PEO zero-margin benefits pass-through revenues and client fund interest revenues. The Company believes these revenue categories depict how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors.

HCM provides a suite of product offerings that assist employers of all types and sizes in all stages of the employment cycle, from recruitment to retirement. Global is generally consistent with the types of services provided within HCM but represent geographies outside of the United States and includes our multinational offerings. HCM and Global revenues are primarily attributable to fees for providing solutions for payroll, benefits, talent, retirement services and HR processing and fees charged to implement the Company's solutions for clients.

HRO provides a comprehensive human resources outsourcing solution, including offering benefits, providing workers’ compensation insurance, and administering state unemployment insurance, among other human resources functions. This revenue is primarily driven by PEO. The Company has further disaggregated HRO to separate out its PEO zero-margin benefits pass-through revenues.

The Company recognizes client fund interest revenues on collected but not yet remitted funds held for clients in revenues as earned, as the collection, holding and remittance of these funds are critical components of providing these services.
The following tables provide details of the Company's revenues and includes a reconciliation to the Company’s reportable segments:
Years Ended
June 30,
Types of Revenues202520242023
HCM$8,674.5 $8,155.7 $7,716.1 
HRO, excluding PEO zero-margin benefits pass-throughs3,782.3 3,544.2 3,386.0 
PEO zero-margin benefits pass-throughs4,289.0 3,975.9 3,800.9 
Global2,626.0 2,502.1 2,295.8 
Interest on funds held for clients1,189.1 1,024.7 813.4 
Total Revenues$20,560.9 $19,202.6 $18,012.2 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2025:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$8,684.5 $— $(10.0)$8,674.5 
HRO, excluding PEO zero-margin benefits pass-throughs1,394.3 2,390.6 (2.6)3,782.3 
PEO zero-margin benefits pass-throughs— 4,289.0 — 4,289.0 
Global2,626.0 — — 2,626.0 
Interest on funds held for clients1,178.3 10.8 — 1,189.1 
Total Segment Revenues$13,883.1 $6,690.4 $(12.6)$20,560.9 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2024:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$8,164.2 $— $(8.5)$8,155.7 
HRO, excluding PEO zero-margin benefits pass-throughs1,299.1 2,248.4 (3.3)3,544.2 
PEO zero-margin benefits pass-throughs— 3,975.9 — 3,975.9 
Global2,502.1 — — 2,502.1 
Interest on funds held for clients1,015.4 9.3 — 1,024.7 
Total Segment Revenues$12,980.8 $6,233.6 $(11.8)$19,202.6 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2023:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$7,724.7 $— $(8.6)$7,716.1 
HRO, excluding PEO zero-margin benefits pass-throughs1,216.1 2,175.9 (6.0)3,386.0 
PEO zero-margin benefits pass-throughs— 3,800.9 — 3,800.9 
Global2,295.8 — — 2,295.8 
Interest on funds held for clients806.0 7.4 — 813.4 
Total Segment Revenues$12,042.6 $5,984.2 $(14.6)$18,012.2 

Contract Balances

The timing of revenue recognition for our HCM, HRO and Global Solutions is consistent with the invoicing of clients, as invoicing occurs in the period the services are provided. Therefore, the Company does not recognize a contract asset or liability resulting from the timing of revenue recognition and invoicing.
Changes in deferred revenue related to set up fees for the fiscal year ended June 30, 2025 were as follows:
Contract Liability
Contract liability, July 1, 2024$491.6 
Recognition of revenue included in beginning of year contract liability(134.1)
Contract liability, net of revenue recognized on contracts during the year140.4 
Currency translation adjustments22.3 
Contract liability, June 30, 2025$520.2 

Deferred costs
 
The balance is as follows:
June 30,20252024
Deferred costs to obtain a contract$1,438.6 $1,353.0 
Deferred costs to fulfill a contract1,715.5 1,612.0 
Total deferred contract costs (1)$3,154.1 $2,965.0 

(1) The amount of total deferred costs amortized during the fiscal years ended June 30, 2025, June 30, 2024, and June 30, 2023 were $1,145.3 million, $1,067.6 million, and $992.9 million, respectively.
Deferred costs are periodically reviewed for impairment. There were no impairment losses incurred during the period.
v3.25.2
Acquisitions
 12 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions ACQUISITIONS
    
In October 2024, the Company acquired WorkForce Software, a premier workforce management solutions provider that specializes in supporting large, global enterprises, utilizing cash on hand. The results of WorkForce Software are reported within the Company’s Employer Services segment. Pro forma information has not been presented because the effect of the acquisition is not material to the Company's consolidated financial results.

The following table reconciles the purchase price to the cash paid for the acquisition, net of cash acquired:
Purchase price$1,170.8 
Less: cash acquired(12.5)
Cash paid for acquisition of business, net of cash acquired$1,158.3 

The preliminary allocation of the purchase price is based upon estimates and assumptions that are subject to change within the measurement period, which is one year from the acquisition date. The primary areas of the purchase price allocation that are not yet finalized relate to the measurement of certain assets and liabilities, including identifiable intangible assets. Accordingly, the measurement period for such purchase price allocations will end when the information becomes available but will not exceed twelve months from the date of acquisition.
The acquisition was accounted for using the acquisition method of accounting. The Company recognized assets acquired and liabilities assumed at their fair value as of the date of acquisition, with the excess recorded to goodwill. The preliminary purchase price allocation for WorkForce Software is as follows:
Cash$12.5 
Accounts receivable, net of allowance for doubtful accounts20.0 
Identifiable intangible assets (1)292.0 
Goodwill880.4 
Deferred income taxes, net of valuation allowance51.2 
All other assets14.8 
Total assets acquired$1,270.9 
Deferred revenue$39.6 
All other liabilities60.5 
Total liabilities assumed$100.1 
Total net assets acquired$1,170.8 

(1) Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes an estimated valuation by an independent third-party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the Company and other market participants, projected customer attrition rates, as well as applicable royalty rates for comparable assets. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to the future cash flows. The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:

Estimated Fair ValueEstimated Useful Life
(in years)
Technology$115.0 7
Customer/Partner relationships$170.0 8
Tradename$7.0 4

The goodwill recorded as a result of the WorkForce Software transaction represents future economic benefits the Company expects to achieve as a result of the acquisition, including expected synergies along with the value of the assembled workforce. None of the goodwill resulting from the acquisition is tax deductible.
v3.25.2
Other (Income)/Expense, Net
 12 Months Ended
Jun. 30, 2025
Other Income, Net [Abstract]  
Other (Income)/Expense, Net OTHER (INCOME)/EXPENSE, NET
Other income, net consists of the following:

Years ended June 30,202520242023
Interest income on corporate funds$(319.5)$(241.3)$(149.5)
Realized losses on available-for-sale securities, net1.7 5.9 14.7 
Impairment of assets— — 2.1 
Gain on sale of assets(5.0)(17.1)— 
Non-service components of pension income, net(31.3)(34.2)(50.8)
Other income, net$(354.1)$(286.7)$(183.5)

In fiscal 2025, the Company's corporate funds average investment balance was $9.2 billion as compared to $7.4 billion in fiscal 2024, and average interest rates related to corporate funds were 3.5% in fiscal 2025 as compared to 3.3% in fiscal 2024.
In fiscal 2025, the Company recognized a gain of $5.0 million, in relation to sales of buildings.

See Note 11 of our Consolidated Financial Statements for further details on non-service components of pension income, net.
v3.25.2
Corporate Investments And Funds Held For Clients
 12 Months Ended
Jun. 30, 2025
Corporate Investments And Funds Held For Clients [Abstract]  
Corporate Investments And Funds Held For Clients CORPORATE INVESTMENTS AND FUNDS HELD FOR CLIENTS
Corporate investments and funds held for clients at June 30, 2025 and 2024 were as follows:
 
 June 30, 2025
Amortized
Cost		Gross
Unrealized
 Gains		Gross
Unrealized
Losses		 Fair Value (A)
Type of issue:   
Money market securities, cash and other cash equivalents$5,054.6 $— $— $5,054.6 
Available-for-sale securities:    
Corporate bonds17,515.2 108.7 (420.2)17,203.7 
U.S. Treasury securities8,416.8 85.6 (43.7)8,458.7 
Canadian government obligations and
Canadian government agency obligations
1,972.0 16.4 (32.4)1,956.0 
Asset-backed securities1,837.8 22.6 (15.5)1,844.9 
U.S. government agency securities1,328.5 2.3 (80.0)1,250.8 
Canadian provincial bonds1,155.8 13.8 (27.7)1,141.9 
Other securities1,977.3 7.2 (62.8)1,921.7 
Total available-for-sale securities34,203.4 256.6 (682.3)33,777.7 
Total corporate investments and funds held for clients$39,258.0 $256.6 $(682.3)$38,832.3 

(A) Included within available-for-sale securities are corporate investments with fair values of $4,498.8 million and funds held for clients with fair values of $29,278.9 million. All available-for-sale securities are included in Level 2 of the fair value hierarchy.
 June 30, 2024
Amortized 
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value (B)
Type of issue:    
Money market securities, cash and other cash equivalents$10,086.0 $— $— $10,086.0 
Available-for-sale securities:
Corporate bonds16,833.3 11.5 (944.8)15,900.0 
U.S. Treasury securities7,701.2 9.0 (164.5)7,545.7 
Canadian government obligations and
   Canadian government agency obligations		2,130.7 1.7 (86.6)2,045.8 
U.S. government agency securities
1,645.0 0.5 (140.6)1,504.9 
Asset-backed securities1,394.9 3.9 (43.0)1,355.8 
Canadian provincial bonds1,116.3 2.3 (56.2)1,062.4 
Commercial mortgage-backed securities535.9 — (35.1)500.8 
Other securities1,366.0 2.0 (75.9)1,292.1 
Total available-for-sale securities32,723.3 30.9 (1,546.7)31,207.5 
Total corporate investments and funds held for clients$42,809.3 $30.9 $(1,546.7)$41,293.5 
(B) Included within available-for-sale securities are corporate investments with fair values of $384.0 million and funds held for clients with fair values of $30,823.5 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

For a description of the fair value hierarchy and the Company's fair value methodologies, including the use of an independent third-party pricing service, see Note 1 “Summary of Significant Accounting Policies.” The Company concurred with and did not adjust the prices obtained from the independent pricing service. The Company had no available-for-sale securities included in Level 1 or Level 3 at June 30, 2025.

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2025, are as follows:
 
June 30, 2025
Securities in unrealized loss position less than
12 months		Securities in unrealized loss position greater than 12 monthsTotal
Gross Unrealized
Losses		Fair Market
Value		Gross Unrealized
Losses		Fair Market
Value 		Gross
Unrealized
Losses		Fair
Market Value
Corporate bonds$(5.4)$690.4 $(414.8)$10,218.8 $(420.2)$10,909.2 
U.S. Treasury securities(0.8)732.2 (42.9)1,801.7 (43.7)2,533.9 
Canadian government obligations and
Canadian government agency obligations
(1.4)219.2 (31.0)870.2 (32.4)1,089.4 
Asset-backed securities(0.2)101.4 (15.3)481.4 (15.5)582.8 
U.S. government agency securities
(0.1)8.0 (79.9)1,093.8 (80.0)1,101.8 
Canadian provincial bonds(0.8)44.3 (26.9)588.8 (27.7)633.1 
Other securities(1.5)168.4 (61.3)1,130.2 (62.8)1,298.6 
 $(10.2)$1,963.9 $(672.1)$16,184.9 $(682.3)$18,148.8 

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2024 are as follows: 
June 30, 2024
Securities in unrealized loss position less than
12 months		Securities in unrealized loss position greater than 12 monthsTotal
Gross Unrealized
Losses		Fair Market
Value		Gross Unrealized
Losses		Fair Market
Value 		Gross
Unrealized
Losses		Fair
Market Value
Corporate bonds$(25.8)$2,173.6 $(919.0)$12,413.4 $(944.8)$14,587.0 
U.S. Treasury securities
(23.1)2,186.2 (141.4)4,076.9 (164.5)6,263.1 
Canadian government obligations and
Canadian government agency obligations
(0.9)304.6 (85.7)1,591.6 (86.6)1,896.2 
U.S. government agency securities
(0.7)51.5 (139.9)1,428.2 (140.6)1,479.7 
Asset-backed securities(2.3)351.4 (40.7)668.0 (43.0)1,019.4 
Canadian provincial bonds(1.3)193.0 (54.9)717.4 (56.2)910.4 
Commercial mortgage-backed securities(0.5)11.2 (34.6)489.6 (35.1)500.8 
Other securities(12.2)288.5 (63.7)864.8 (75.9)1,153.3 
 $(66.8)$5,560.0 $(1,479.9)$22,249.9 $(1,546.7)$27,809.9 
    
At June 30, 2025, Corporate bonds include investment-grade debt securities, with a wide variety of issuers, industries, and sectors, primarily carry credit ratings of A and above, and have maturities ranging from July 2025 through June 2035.
At June 30, 2025, asset-backed securities include AAA-rated senior tranches of securities with predominately prime collateral of fixed-rate auto loan, credit card, and device payment plan agreement receivables with fair values of $824.8 million, $549.3 million, and $254.8 million, respectively. These securities are collateralized by the cash flows of the underlying pools of receivables. The primary risk associated with these securities is the collection risk of the underlying receivables. All collateral on such asset-backed securities has performed as expected through June 30, 2025.
    
At June 30, 2025, U.S. government agency securities primarily include debt directly issued by Federal Farm Credit Banks and Federal Home Loan Banks with fair values of $922.1 million and $267.2 million, respectively. U.S. government agency securities represent senior, unsecured, non-callable debt that primarily carry ratings of Aaa by Moody's and AA+ by Standard & Poor's, with maturities ranging from September 2025 through May 2035.

At June 30, 2025, other securities primarily include municipal bonds, diversified with a variety of issuers, with credit ratings of A and above, with fair values of $536.0 million, AA-rated United Kingdom Gilt securities of $550.8 million, commercial mortgage-backed securities of $438.6 million, and AAA-rated supranational bonds of $230.3 million.

Classification of corporate investments on the Consolidated Balance Sheets is as follows:
June 30,20252024
Corporate investments:  
Cash and cash equivalents$3,347.8 $2,913.4 
Short-term marketable securities4,498.8 384.0 
Total corporate investments$7,846.6 $3,297.4 
 
Funds held for clients represent assets that, based upon the Company's intent, are restricted for use solely for the purposes of satisfying the obligations to remit funds relating to the Company’s payroll and payroll tax filing services, which are classified as client funds obligations on our Consolidated Balance Sheets.

Funds held for clients have been invested in the following categories:
June 30,20252024
Funds held for clients:  
Restricted cash and cash equivalents held to satisfy client funds obligations$1,706.8 $7,172.6 
Restricted short-term marketable securities held to satisfy client funds obligations3,155.7 5,538.1 
Restricted long-term marketable securities held to satisfy client funds obligations26,123.2 25,285.4 
Total funds held for clients$30,985.7 $37,996.1 

Client funds obligations represent the Company's contractual obligations to remit funds to satisfy clients' payroll, tax and other payee payment obligations and are recorded on the Consolidated Balance Sheets at the time that the Company impounds funds from clients. The client funds obligations represent liabilities that will be repaid within one year of the balance sheet date. The Company has reported client funds obligations as a current liability on the Consolidated Balance Sheets totaling $31,343.3 million and $39,503.9 million as of June 30, 2025 and 2024, respectively. The Company has classified funds held for clients as a current asset since these funds are held solely for the purposes of satisfying the client funds obligations. Of the Company’s funds held for clients at June 30, 2025, $27,355.2 million are held in the grantor trust. The liabilities held within the trust are intercompany liabilities to other Company subsidiaries and eliminate in consolidation.

The Company has reported the cash flows related to the purchases of corporate and client funds marketable securities and related to the proceeds from the sales and maturities of corporate and client funds marketable securities on a gross basis in the investing section of the Statements of Consolidated Cash Flows. The Company has reported the cash and cash equivalents related to client funds investments with original maturities of ninety days or less, within the beginning and ending balances of cash, cash equivalents, restricted cash, and restricted cash equivalents. The Company has reported the cash flows related to the cash received from and paid on behalf of clients on a net basis within net increase in client funds obligations in the financing activities section of the Statements of Consolidated Cash Flows.

All available-for-sale securities were rated as investment grade at June 30, 2025.
Expected maturities of available-for-sale securities at June 30, 2025 are as follows:
One year or less$7,654.5 
One year to two years5,888.4 
Two years to three years4,322.9 
Three years to four years5,106.0 
After four years10,805.9 
Total available-for-sale securities$33,777.7 
v3.25.2
Property, Plant and Equipment
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment at cost and accumulated depreciation at June 30, 2025 and 2024 are as follows:
June 30,20252024
Property, plant and equipment:
Land and buildings$637.2 $648.1 
Data processing equipment1,264.5 1,185.2 
Furniture, leaseholds and other675.7 670.0 
2,577.4 2,503.3 
Less: accumulated depreciation(1,922.0)(1,817.7)
Property, plant and equipment, net$655.4 $685.6 

Depreciation of property, plant and equipment was $201.8 million, $190.3 million, and $176.5 million for fiscal 2025, 2024 and 2023, respectively.

As of June 30, 2025, the Company did not have any assets classified as held for sale. As of June 30, 2024, the Company had certain assets classified as held for sale with a fair value of approximately $5.0 million, which is not material for reclassification separately on the Consolidated Balance Sheet.
v3.25.2
Leases
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases LEASES
The Company records leases on the Consolidated Balance Sheets as operating lease ROU assets, records the current portion of operating lease liabilities within accrued expenses and other current liabilities and, separately, records long-term operating lease liabilities. The difference between total ROU assets and total lease liabilities are primarily attributable to prepayments of our obligations and the recognition of various lease incentives.

The Company has entered into operating lease agreements for facilities and equipment. The Company's leases have remaining lease terms of up to approximately eleven years.

The components of operating lease expense were as follows:
Year ended
June 30,
202520242023
Operating lease cost$111.8 $125.0 $135.2 
Short-term lease cost1.2 1.4 2.0 
Variable lease cost20.3 18.3 16.1 
Total operating lease cost$133.3 $144.7 $153.3 
The following table provides supplemental cash flow information related to the Company's leases:
Year ended
June 30,
202520242023
Cash paid for operating lease liabilities$127.5 $125.5 $129.2 
Operating lease ROU assets obtained in exchange for new operating lease liabilities$100.7 $97.4 $90.5 

Other information related to our operating lease liabilities is as follows:
June 30,June 30,
20252024
Weighted-average remaining lease term (in years)65
Weighted-average discount rate3.6 %3.3 %
Current operating lease liability$100.8 $92.2 

As of June 30, 2025, maturities of operating lease liabilities are as follows:
Twelve months ending June 30, 2026$107.8 
Twelve months ending June 30, 202798.6 
Twelve months ending June 30, 202876.9 
Twelve months ending June 30, 202953.1 
Twelve months ending June 30, 203042.4 
Thereafter90.4 
Total undiscounted lease obligations469.2 
Less: Imputed interest(47.2)
Net lease obligations$422.0 
v3.25.2
Goodwill And Intangible Assets, Net
 12 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Intangible Assets, Net GOODWILL AND INTANGIBLE ASSETS, NET
Changes in goodwill for the fiscal years ended June 30, 2025 and 2024 are as follows:
Employer
Services		PEO
Services		Total
Balance at June 30, 2023$2,334.6 $4.8 $2,339.4 
Additions and other adjustments24.4 — 24.4 
Currency translation adjustments(10.2)— (10.2)
Balance at June 30, 2024$2,348.8 $4.8 $2,353.6 
Additions and other adjustments887.0 — 887.0 
Currency translation adjustments32.9 — 32.9 
Balance at June 30, 2025$3,268.7 $4.8 $3,273.5 
Components of intangible assets, net, are as follows:
June 30,20252024
Intangible assets:  
Software and software licenses$4,103.6 $3,803.7 
Customer contracts and lists1,429.4 1,181.6 
Other intangibles249.8 242.0 
 5,782.8 5,227.3 
Less accumulated amortization:  
Software and software licenses(2,830.3)(2,642.6)
Customer contracts and lists(1,105.6)(1,007.6)
Other intangibles(243.9)(241.1)
 (4,179.8)(3,891.3)
Intangible assets, net$1,603.0 $1,336.0 

Other intangibles consist primarily of purchased rights, purchased content, trademarks and trade names (acquired directly or through acquisitions). All intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 5 years (5 years for software and software licenses, 4 years for customer contracts and lists, and 3 years for other intangibles). Amortization of intangible assets was $380.6 million, $371.6 million, and $372.8 million for fiscal 2025, 2024, and 2023, respectively.

Estimated future amortization expenses of the Company's existing intangible assets are as follows:
 Amount
Twelve months ending June 30, 2026$575.5 
Twelve months ending June 30, 2027$251.0 
Twelve months ending June 30, 2028$208.2 
Twelve months ending June 30, 2029$176.6 
Twelve months ending June 30, 2030$133.4 
v3.25.2
Short-Term Financing
 12 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Short-Term Financing SHORT TERM FINANCING
The Company has a $4.6 billion, 364-day credit agreement that matures in June 2026 with a one-year term-out option. The Company also has a $3.5 billion five-year credit facility that matures in June 2029 that contains an accordion feature under which the aggregate commitment can be increased by $500 million, subject to the availability of additional commitments. In addition, the Company also has a $2.5 billion five-year credit facility maturing in June 2030 that contains an accordion feature under which the aggregate commitment can be increased by $500 million, subject to the availability of additional commitments. The interest rate applicable to committed borrowings is tied to SOFR, the effective federal funds rate, or the prime rate depending on the notification provided by the Company to the syndicated financial institutions prior to borrowing. The Company is also required to pay facility fees on the credit agreements. The primary uses of the credit facilities are to provide liquidity to the commercial paper program and funding for general corporate purposes, if necessary. The Company had no borrowings through June 30, 2025 and 2024 under the credit agreements.

The Company's U.S. short-term funding requirements related to client funds are sometimes obtained on an unsecured basis through the issuance of commercial paper, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. In June 2025, the Company increased its U.S. short-term commercial paper program to provide for the issuance of up to $10.6 billion from $10.3 billion in aggregate maturity value. The Company’s commercial paper program is rated A-1+ by Standard & Poor’s, Prime-1 (“P-1”) by Moody’s and F1+ by Fitch. These ratings denote the highest quality commercial paper securities. Maturities of commercial paper can range from overnight to up to 364 days. As of June 30, 2025 the Company had $4.8 billion of commercial paper outstanding, which was repaid in early July 2025. As of June 30, 2024, the Company had no commercial paper borrowing outstanding. Details of the borrowings under the commercial paper program are as follows:
Years ended June 30,20252024
Average daily borrowings (in billions)$4.1 $3.5 
Weighted average interest rates4.8 %5.3 %
Weighted average maturity (approximately in days)2 days2 days

The Company’s U.S., Canadian and United Kingdom short-term funding requirements related to client funds obligations are sometimes obtained on a secured basis through the use of reverse repurchase agreements, which are collateralized principally by government and government agency securities, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. These agreements generally have terms ranging from overnight to up to five business days. As of June 30, 2025 and 2024, the Company had $38.4 million and $385.4 million, respectively, of outstanding obligations related to the reverse repurchase agreements. The Company has $7.5 billion available on a committed basis under the U.S. reverse repurchase agreements. Details of the reverse repurchase agreements are as follows:

Years ended June 30,20252024
Average outstanding balances (in billions)$2.9 $1.8 
Weighted average interest rates4.8 %5.5 %
v3.25.2
Debt
 12 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt DEBT
The Company issued four series of fixed-rate notes with staggered maturities of 7 and 10-years totaling $4.0 billion (collectively the “Notes”). The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually.

During the first quarter ended September 30, 2024, the Company issued $1.0 billion of senior notes due in 2034 bearing a fixed interest rate of 4.450%. In connection with the senior notes issuance, the Company terminated several derivative contracts in place to hedge exposure in changes in benchmark interest rates for the senior notes issued with an aggregate notional amount totaling $1.0 billion (of which $400.0 million were executed during the first quarter ended September 30, 2024 and $600.0 million were executed on the day of issuance). Since these derivative contracts were classified as cash flow hedges, the unamortized loss of $12.5 million was deferred in accumulated other comprehensive (loss)/income and will be amortized to earnings over the life of the respective issued Note as the interest payments are made.

During the fourth quarter ended June 30, 2025, the Company issued $1.0 billion of senior notes due in 2032 bearing a fixed interest rate of 4.750%. In connection with the senior notes issuance, the Company also terminated several derivative contracts in place to hedge exposure in changes in benchmark interest rates for the senior notes issued with an aggregate notional amount totaling $1.0 billion (of which $300.0 million were entered into during the third quarter ended March 31, 2025, $100.0 million were entered into during the fourth quarter ended June 30, 2025, and $600.0 million were entered into on the day of issuance). Since these derivative contracts were classified as cash flow hedges, the unamortized loss of $3.0 million was deferred in accumulated other comprehensive (loss)/income and will be amortized to earnings over the life of the respective issued Note as the interest payments are made.

During the fourth quarter ended June 30, 2025, the Company redeemed $1.0 billion of senior notes which were due to mature on September 15, 2025 and were bearing a fixed interest rate of 3.375%.
The principal amounts and associated effective interest rates of the Notes and other debt as of June 30, 2025 and 2024 are as follows:
Debt instrumentEffective Interest RateJune 30, 2025June 30, 2024
Fixed-rate 3.375% notes due September 15, 2025
3.47%$— $1,000.0 
Fixed-rate 1.700% notes due May 15, 2028
1.85%1,000.0 1,000.0 
Fixed-rate 1.250% notes due September 1, 2030
1.83%1,000.0 1,000.0 
Fixed-rate 4.750% notes due May 8, 2032
4.95%1,000.0 — 
Fixed-rate 4.450% notes due September 9, 2034
4.75%1,000.0 — 
Other2.9 4.1 
4,002.9 3,004.1 
Less: current portion (a)(1.0)(1.1)
Less: unamortized discount and debt issuance costs(27.2)(11.7)
Total long-term debt$3,974.7 $2,991.3 

(a) - Current portion of long-term debt as of June 30, 2025 is included within accrued expenses and other current liabilities on the Consolidated Balance Sheets.
The effective interest rates for the Notes include the interest on the Notes and amortization of the discount and debt issuance costs.
As of June 30, 2025, the fair value of the Notes, based on Level 2 inputs, was $3,801.5 million. For a description of the fair value hierarchy and the Company's fair value methodologies, including the use of an independent third-party pricing service, see Note 1 "Summary of Significant Accounting Policies."
v3.25.2
Employee Benefit Plans
 12 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
A.  Stock-based Compensation Plans.  Stock-based compensation consists of the following:

The Company's share-based compensation plan consists of stock options, time-based restricted stock, time-based restricted stock units, performance-based restricted stock, and performance-based restricted stock units. The Company also offers an employee stock purchase plan for eligible employees. Beginning in September 2022, the Company discontinued granting stock options, time-based restricted stock and performance-based restricted stock. Any such future awards granted September 2022 and after will be grants of time-based restricted stock units and/or performance-based restricted stock units, depending on employee eligibility. Time-based restricted stock unit awards and performance-based restricted stock unit awards granted to employees with a home country of the United States are settled in stock, and awards granted to employees with a home country outside the United States are generally settled in cash. As of June 30, 2025, approximately 19.3 million registered shares were available for future grants, excluding the impact of performance-based restricted stock units outstanding as of June 30, 2025, from the 26.6 million shares previously authorized for issuance under the share-based compensation plan.

•Restricted Stock.
•Time-Based Restricted Stock Units. Time-based restricted stock units generally vest ratably over 3 years. Awards are generally forfeited if the employee ceases to be employed by the Company prior to vesting.

Time-based restricted stock unit awards granted to employees with a home country of the United States are settled in stock and cannot be transferred during the vesting period. Time-based restricted stock unit awards granted to employees with a home country outside the United States are generally settled in cash and cannot be transferred during the vesting period. Compensation expense relating to the issuance of share-settled units is measured based on the fair value of the award on the grant date and recognized on a straight-line basis over the vesting period. Compensation expense relating to the issuance of cash-settled units is recorded over the vesting period and is initially based on the fair value of the award on the grant date and is subsequently remeasured at each reporting date during the vesting period based on the change in the ADP stock price. Dividend cash equivalents are paid on share-settled units, and dividend cash equivalents are not paid on cash-settled units.
•Performance-Based Restricted Stock Units. Performance-based restricted stock units generally vest over a one to three-year performance period and a subsequent service period of up to 38 months. Under these programs, the Company communicates “target awards” at the beginning of the performance period with possible payouts at the end of the performance period ranging from 0% to 200% of the “target awards.” Awards are generally forfeited if the employee ceases to be employed by the Company prior to vesting.

Performance-based restricted stock units cannot be transferred and are settled in either cash or stock, depending on the employee's home country. Compensation expense relating to the issuance of performance-based restricted stock units settled in cash is recognized over the vesting period initially based on the fair value of the award on the grant date with subsequent adjustments to the number of units awarded during the performance period based on probable and actual performance against targets. In addition, compensation expense is remeasured at each reporting period during the vesting period based on the change in the ADP stock price. Compensation expense relating to the issuance of performance-based restricted stock units settled in stock is recorded over the vesting period based on the fair value of the award on the grant date with subsequent adjustments to the number of units awarded based on the probable and actual performance against targets. Dividend equivalents are paid on awards under the performance-based restricted stock unit program.
•Employee Stock Purchase Plan. The Company offers an employee stock purchase plan that allows eligible employees to purchase shares of common stock at a price equal to 95% of the market value of the Company's common stock on the last day of the offering period. This plan has been deemed non-compensatory and, therefore, no compensation expense has been recorded. As of June 30, 2025, approximately 4.6 million shares were available for future issuances from the 70.0 million shares previously authorized for issuance under the employee stock purchase plan.

The Company currently utilizes treasury stock to satisfy stock option exercises, issuances under the Company's employee stock purchase plan, and restricted stock awards. From time to time, the Company may repurchase shares of its common stock under its authorized share repurchase program. The Company repurchased 4.4 million shares in fiscal 2025 as compared to 5.1 million shares repurchased in fiscal 2024. The Company considers several factors in determining when to execute share repurchases, including, among other things, actual and potential acquisition activity, cash balances and cash flows, issuances due to employee benefit plan activity, and market conditions. Cash payments related to the settlement of vested time-based restricted stock units and performance-based restricted stock units were approximately $24.0 million, $24.1 million, and $23.5 million during fiscal years 2025, 2024, and 2023, respectively.

The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2025, 2024, and 2023, respectively:
Years ended June 30,202520242023
Operating expenses$36.0 $30.0 $24.6 
Selling, general and administrative expenses193.7 179.5 165.0 
Research and development36.4 34.0 30.8 
Total pretax stock-based compensation expense$266.1 $243.5 $220.4 
Income tax benefit$66.0 $60.2 $54.5 

As of June 30, 2025, the total remaining unrecognized compensation cost related to unvested stock options, restricted stock units, and restricted stock awards amounted to $0.3 million, $206.8 million, and $0.8 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 0.2 years, 1.7 years, and 0.2 years, respectively.
In fiscal 2025, the following activity occurred under the Company’s existing plans:

Stock Options:
Number
of Options
(in thousands)		Weighted
Average Price
(in dollars)
Options outstanding at July 1, 20242,042 $159 
Options granted— $— 
Options exercised(1,004)$154 
Options forfeited/cancelled(3)$207 
Options outstanding at June 30, 20251,035 $164 
Options exercisable at June 30, 2025882 $157 

The aggregate intrinsic value of outstanding stock options and exercisable stock options as of June 30, 2025 was $149.3 million and $133.7 million, respectively, of which each have remaining lives of 4 years. The aggregate intrinsic value for stock options exercised in fiscal 2025, 2024, and 2023 was $134.0 million, $63.2 million, and $80.6 million, respectively.

Time-Based Restricted Stock and Time-Based Restricted Stock Units:
Number of Shares
(in thousands)		Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2024124 1,053 
Restricted shares/units granted— 618 
Restricted shares/units vested(124)(435)
Restricted shares/units forfeited— (62)
Restricted shares/units outstanding at June 30, 2025— 1,174 

Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:
Number of Shares
(in thousands)		Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 202488 753 
Restricted shares/units granted— 305 
Restricted shares/units vested(58)(293)
Restricted shares/units forfeited(3)(14)
Restricted shares/units outstanding at June 30, 202527 751 
The weighted average fair values of shares/units granted were as follows:
Years ended June 30,202520242023
(in dollars)
Performance-based restricted shares/units$283.84 $262.56 $245.96 
Time-based restricted shares/units$277.10 $255.29 $214.75 

B.  Pension Plans

The Company has a defined benefit cash balance pension plan. The U.S. pension plan, which is currently closed to new entrants, was frozen effective July 1, 2020. As of July 1, 2020 and onward, participants will retain their accrued benefits and will not accrue any future benefits due to pay and/or service. The plan interest credit rate varies from year-to-year based on the ten-year U.S. Treasury rate. The Company's policy is to make contributions within the range determined by generally accepted actuarial principles.
The Company also has various retirement plans for its non-U.S. employees and maintains a Supplemental Officers Retirement Plan (“SORP”). The SORP is a defined benefit plan pursuant to which the Company pays supplemental pension benefits to certain corporate officers upon retirement based upon the officers' years of service and compensation. The SORP, which is currently closed to new entrants, was frozen effective July 1, 2019, with no future accruals due to pay and/or service.

A June 30 measurement date was used in determining the Company's benefit obligations and fair value of plan assets.

The Company is required to (a) recognize in its Consolidated Balance Sheets an asset for a plan's net overfunded status or a liability for a plan's net underfunded status, (b) measure a plan's assets and its obligations that determine its funded status as of the end of the employer's fiscal year, and (c) recognize changes in the funded status of a defined benefit plan in the year in which the changes occur in accumulated other comprehensive income (loss).

The Company's pension plans' funded status as of June 30, 2025 and 2024 is as follows:
June 30,20252024
Change in plan assets:
Fair value of plan assets at beginning of year$1,879.6 $1,854.4 
Actual return on plan assets147.7 106.8 
Employer contributions20.1 13.4 
Currency translation adjustments3.7 0.6 
Benefits paid(112.9)(95.6)
Fair value of plan assets at end of year$1,938.2 $1,879.6 
Change in benefit obligation:
Benefit obligation at beginning of year$1,706.2 $1,725.8 
Service cost6.0 5.2 
Interest cost87.4 84.6 
Actuarial loss/(gain) (a)26.0 (14.6)
Currency translation adjustments5.9 0.8 
Curtailments and special termination benefits(0.3)— 
Benefits paid(112.6)(95.6)
Projected benefit obligation at end of year$1,718.6 $1,706.2 
Funded status - plan assets less benefit obligations$219.6 $173.4 
(a) The actuarial loss for fiscal 2025 was primarily due to changes in the discount rate.

The amounts recognized on the Consolidated Balance Sheets as of June 30, 2025 and 2024 consisted of:
June 30,20252024
Noncurrent assets$334.2 $286.3 
Current liabilities(5.9)(11.1)
Noncurrent liabilities(108.7)(101.8)
Net amount recognized$219.6 $173.4 

The accumulated benefit obligation for all defined benefit pension plans was $1,694.9 million and $1,688.5 million at June 30, 2025 and 2024, respectively.
The Company's pension plans with projected benefit obligations in excess of plan assets as of June 30, 2025 and 2024 had the following projected benefit obligation and fair value of plan assets:
June 30,20252024
Projected benefit obligation$151.3 $143.7 
Fair value of plan assets$36.7 $30.8 

The Company's pension plans with accumulated benefit obligations in excess of plan assets as of June 30, 2025 and 2024 had the following accumulated benefit obligation and fair value of plan assets:
June 30,20252024
Accumulated benefit obligation$107.9 $108.6 
Fair value of plan assets$9.2 $7.6 

The components of net pension (income)/expense were as follows:
 202520242023
Service cost – benefits earned during the year$6.0 $5.2 $4.8 
Interest cost on projected benefits87.4 84.6 78.2 
Expected return on plan assets(116.0)(115.9)(127.5)
Net amortization and deferral3.2 2.9 1.9 
Special termination benefits, plan curtailments, and settlement charges(0.3)0.3 — 
Net pension (income)/expense$(19.7)$(22.9)$(42.6)

The net actuarial loss and prior service cost for the defined benefit pension plans that are included in accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost are $280.2 million and $2.2 million, respectively, at June 30, 2025. There is no remaining transition obligation for the defined benefit pension plans included in accumulated other comprehensive income (loss).

Assumptions used to determine the actuarial present value of benefit obligations were:
Years ended June 30,20252024
Discount rate5.35 %5.40 %
Interest crediting rate3.85 %3.70 %
Increase in compensation levelsN/AN/A

Assumptions used to determine the net pension (income)/expense generally were:
Years ended June 30,202520242023
Discount rate5.40 %5.10 %4.60 %
Interest crediting rate3.70 %3.50 %3.25 %
Expected long-term rate of return on assets6.00 %6.00 %6.75 %
Increase in compensation levelsN/AN/AN/A

The discount rate is based upon published rates for high-quality fixed-income investments that produce cash flows that approximate the timing and amount of expected future benefit payments.

The interest crediting rate is based on the current and expected future ten-year U.S. Treasury rates or a minimum of 3.25%.

The expected long-term rate of return on assets is determined based on historical and expected future rates of return on plan assets considering the target asset mix and the long-term investment strategy.
Plan Assets

The Company's pension plans' asset allocations at June 30, 2025 and 2024 by asset category were as follows:
20252024
Cash and cash equivalents5 %— %
Fixed income securities69 %63 %
U.S. equity securities10 %12 %
International equity securities5 %10 %
Global equity securities11 %15 %
100 %100 %

The Company's pension plans' asset investment strategy is designed to ensure prudent management of assets, consistent with long-term return objectives and the prompt fulfillment of all pension plan obligations. The investment strategy and asset mix were developed in coordination with an asset liability study conducted by external consultants to maximize the funded ratio with the least amount of volatility.

The pension plans' assets are currently invested in various asset classes with differing expected rates of return, correlations, and volatilities, including large capitalization and small capitalization U.S. equities, international equities, U.S. fixed income securities, and cash.

The target asset allocation ranges for the U.S. plan are generally as follows:
U.S. fixed income securities
60% - 70%
U.S. equity securities
7% - 17%
International equity securities
5% - 15%
Global equity securities
8% - 18%

As of June 30, 2025 and 2024, the U.S. pension plan asset allocation is within the target ranges.

The pension plans' fixed income portfolio is designed to match the duration and liquidity characteristics of the pension plans' liabilities. In addition, the pension plans invest only in investment-grade debt securities to ensure preservation of capital. The pension plans' equity portfolios are subject to diversification guidelines to reduce the impact of losses in single investments. Investment managers are prohibited from buying or selling commodities and from the short selling of securities.

None of the pension plans' assets are directly invested in the Company's stock, although the pension plans may hold a minimal amount of Company stock to the extent of the Company's participation in equity indices.

The pension plans' investments included in Level 2 are valued utilizing inputs obtained from an independent pricing service, which are reviewed by the Company for reasonableness. To determine the fair value of our Level 2 plan assets, a variety of inputs are utilized, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, new issue data, and monthly payment information. The pension plans have no Level 1 and Level 3 investments at June 30, 2025.
The following table presents the investments of the pension plans measured at fair value at June 30, 2025:
Level 1Level 2Level 3Total
Commingled trusts$— $501.6 $— $501.6 
Government securities— 532.4 — 532.4 
Corporate and municipal bonds— 783.6 — 783.6 
Mortgage-backed security bonds— 15.7 — 15.7 
Total pension asset investments$— $1,833.3 $— $1,833.3 

In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $104.9 million as of June 30, 2025, which have been classified as Level 1 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2024:
Level 1Level 2Level 3Total
Commingled trusts$— $679.5 $— $679.5 
Government securities— 490.4 — 490.4 
Corporate and municipal bonds— 695.4 — 695.4 
Mortgage-backed security bonds— 3.9 — 3.9 
Total pension asset investments$— $1,869.2 $— $1,869.2 

In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $10.4 million as of June 30, 2024, which have been classified as Level 1 in the fair value hierarchy.

Contributions
    
During fiscal 2025, the Company contributed $20.1 million to the pension plans. The Company expects to contribute $9.7 million to the pension plans during fiscal 2026.

Estimated Future Benefit Payments

The benefits expected to be paid in each year from fiscal 2026 to the year ended June 30, 2030 are $142.4 million, $154.7 million, $157.4 million, $130.0 million, and $130.3 million, respectively. The aggregate benefits expected to be paid in the five fiscal years from the year ended June 30, 2031 to the year ended June 30, 2035 are $681.1 million. The expected benefits to be paid are based on the same assumptions used to measure the Company's pension plans' benefit obligations at June 30, 2025 and includes estimated future employee service.

C. Retirement and Savings Plan. The Company has a 401(k) retirement and savings plan, which allows eligible employees to contribute up to 50% of their compensation annually and allows highly compensated employees to contribute up to 12% of their compensation annually. The Company matches a portion of employee contributions, which amounted to approximately $191.2 million, $184.1 million, and $163.6 million for the calendar years ended December 31, 2024, 2023, and 2022, respectively.
v3.25.2
Income Taxes
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Earnings before income taxes shown below are based on the geographic location to which such earnings are attributable.
Years ended June 30,202520242023
Earnings before income taxes:
United States$4,825.6 $4,408.0 $4,091.4 
Foreign484.5 464.3 346.2 
$5,310.1 $4,872.3 $4,437.6 
The provision (benefit) for income taxes consists of the following components:
Years ended June 30,202520242023
Current:
Federal$880.5 $847.4 $840.0 
Foreign136.0 132.8 104.6 
State176.9 177.5 161.1 
Total current1,193.4 1,157.7 1,105.7 
Deferred:
Federal0.7 (18.7)(77.4)
Foreign19.4 (6.6)4.3 
State16.9 (12.1)(7.0)
Total deferred37.0 (37.4)(80.1)
Total provision for income taxes$1,230.4 $1,120.3 $1,025.6 

A reconciliation between the Company's effective tax rate and the U.S. federal statutory rate is as follows:
Years ended June 30,2025%2024%2023%
Provision for taxes at U.S. statutory rate$1,115.1 21.0 $1,023.2 21.0 $931.9 21.0 
Increase/(decrease) in provision from:
State taxes, net of federal tax benefit128.0 2.4 120.6 2.5 111.2 2.5 
Foreign rate differential39.0 0.7 41.0 0.9 33.1 0.7 
Excess tax benefit - Stock-based compensation(24.3)(0.4)(17.1)(0.4)(19.0)(0.4)
Other(27.4)(0.5)(47.4)(1.0)(31.6)(0.7)
$1,230.4 23.2 $1,120.3 23.0 $1,025.6 23.1 

The effective tax rate in fiscal 2025 and 2024 was 23.2% and 23.0%, respectively. The increase in the effective tax rate is primarily due to higher reserves for uncertain tax positions in fiscal 2025 and a valuation allowance release in fiscal 2024 offset by an increase in the excess tax benefit on stock-based compensation in fiscal 2025.

The effective tax rate for fiscal 2024 and 2023 was 23.0% and 23.1%, respectively. The decrease in the effective tax rate is primarily due to a valuation allowance release and an intercompany transfer of certain assets offset by a lower benefit for adjustments to prior year tax liabilities in fiscal 2024.
The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows:
Years ended June 30,20252024
Deferred tax assets:
Accrued expenses not currently deductible$256.7 $237.4 
Stock-based compensation expense56.0 51.3 
Foreign tax credits8.8 12.0 
Fixed and intangible assets 216.8 194.9 
Net operating losses59.3 41.7 
Disallowed business interest expense carryforward30.9 — 
Unrealized investment losses, net98.4 351.4 
Other28.5 39.1 
755.4 927.8 
Less: valuation allowances(23.8)(11.1)
Deferred tax assets, net$731.6 $916.7 
Deferred tax liabilities:
Deferred contract costs$654.0 $620.7 
Prepaid expenses103.1 88.8 
Prepaid retirement benefits53.1 40.3 
Tax on unrepatriated earnings12.0 10.2 
Other16.9 20.8 
Deferred tax liabilities839.1 780.8 
Net deferred tax (liabilities)/assets$(107.5)$135.9 

There are $56.1 million and $200.2 million of long-term deferred tax assets included in other assets on the Consolidated Balance Sheets at June 30, 2025 and 2024, respectively.

Income taxes have not been provided on undistributed earnings of certain foreign subsidiaries in an aggregate amount of approximately $55.2 million as the Company considers such earnings to be permanently reinvested outside of the United States. As of June 30, 2025, it is not practicable to estimate the unrecognized tax liability that would occur upon distribution.

The Company has estimated foreign net operating loss carry-forwards of approximately $117.3 million as of June 30, 2025, of which $17.8 million expire through the year ending June 30, 2045 and $99.5 million have an indefinite utilization period. As of June 30, 2025, the Company has approximately $107.3 million of federal net operating loss carry-forwards from acquired companies. The net operating losses have an annual utilization limitation pursuant to section 382 of the Internal Revenue Code, of which $16.4 million expire through the year ending June 30, 2036 and $90.9 million have an indefinite utilization period.

The Company has state net operating loss carry-forwards of approximately $109.2 million as of June 30, 2025, which expire through the year ending June 30, 2045. The Company has recorded valuation allowances of $23.8 million and $11.1 million at June 30, 2025 and 2024, respectively, to reflect the estimated amount of domestic and foreign deferred tax assets that may not be realized.

Income tax payments were approximately $1,198.0 million, $1,185.2 million, and $1,080.7 million for fiscal 2025, 2024, and 2023, respectively.

As of June 30, 2025, 2024, and 2023 the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $163.0 million, $126.9 million, and $116.9 million, respectively. The amount that, if recognized, would impact the effective tax rate is $119.0 million, $91.8 million, and $83.6 million, respectively. The remainder, if recognized, would principally impact deferred taxes.
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
202520242023
Unrecognized tax benefits at beginning of the year$126.9 $116.9 $98.1 
Additions for tax positions29.5 17.2 11.3 
Additions for tax positions of prior periods26.7 17.8 16.8 
Reductions for tax positions of prior periods(1.8)(12.8)(5.0)
Settlement with tax authorities(0.1)(9.0)(1.8)
Expiration of the statute of limitations(17.5)(2.9)(1.0)
Impact of foreign exchange rate fluctuations(0.7)(0.3)(1.5)
Unrecognized tax benefit at end of year$163.0 $126.9 $116.9 

Interest expense and penalties associated with uncertain tax positions have been recorded in the provision for income taxes on the Statements of Consolidated Earnings. During the years ended June 30, 2025, 2024, and 2023, the Company recorded interest expense of $4.3 million, $5.7 million, and $9.1 million, respectively. Penalties recorded during fiscal years 2025, 2024, and 2023 were not significant.

At June 30, 2025 and June 30, 2024, the Company had accrued interest of $36.9 million and $32.6 million, respectively, recorded on the Consolidated Balance Sheets within other liabilities. At June 30, 2025 the Company had accrued penalties of $0.3 million recorded on the Consolidated Balance Sheets within other liabilities. At June 30, 2024, the Company had no accrued penalties recorded on the Consolidated Balance Sheets.

The Company is routinely examined by the IRS and tax authorities in foreign countries in which it conducts business, as well as tax authorities in states in which it has significant business operations. The tax years currently under examination vary by jurisdiction. Examinations in progress in which the Company has significant business operations are as follows:
Taxing JurisdictionFiscal Years under Examination
U.S. (IRS)
2023 - 2025
Arizona
2016 - 2020
Massachusetts
2016 - 2022
Michigan
2020 - 2023
New Jersey
2020 - 2022
New York City
2016 - 2021
New York State
2019 - 2021
India
2014 - 2022

The Company regularly considers the likelihood of assessments resulting from examinations in each of the jurisdictions. The resolution of tax matters is not expected to have a material effect on the consolidated financial condition of the Company, although a resolution could have a material impact on the Company's Statements of Consolidated Earnings for a particular future period and on the Company's effective tax rate.
If certain pending tax matters settle within the next twelve months, the total amount of unrecognized tax benefits may increase or decrease for all open tax years and jurisdictions. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. We continually assess the likelihood and amount of potential adjustments and adjust the income tax provision, the current tax liability and deferred taxes in the period in which the facts that give rise to a revision become known.
v3.25.2
Commitments And Contingencies
 12 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments And Contingencies COMMITMENTS AND CONTINGENCIES
As of June 30, 2025, the Company has purchase commitments of approximately $1,498.9 million, including a reinsurance premium with Chubb for the fiscal 2026 policy year, as well as obligations related to software license agreements, and purchase and maintenance agreements on our software, equipment, and other assets, of which $331.6 million relates to the year ending
June 30, 2026, $566.6 million relates to the years ending June 30, 2027 through 2028, $211.9 million relates to the years ending June 30, 2029 through 2030, and the remaining relates to fiscal years thereafter.

In May 2020, a putative class action complaint was filed against ADP, TotalSource and related defendants in the U.S. District Court, District of New Jersey. The complaint asserts violations of the Employee Retirement Income Security Act of 1974 (“ERISA”) in connection with the ADP TotalSource Retirement Savings Plan’s fiduciary administrative and investment decision-making. The complaint seeks statutory and other unspecified monetary damages, injunctive relief and attorney’s fees. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to this matter. The Company is vigorously defending against this lawsuit.

The Company is subject to various claims, litigation, and regulatory compliance matters in the normal course of business. When a loss is considered probable and reasonably estimable, the Company records a liability in the amount of its best estimate for the ultimate loss. Management currently believes that the resolution of these claims, litigation and regulatory compliance matters against us, individually or in the aggregate, will not have a material adverse impact on our consolidated results of operations, financial condition or cash flows. These matters are subject to inherent uncertainties and management's view of these matters may change in the future.

It is not the Company’s business practice to enter into off-balance sheet arrangements. In the normal course of business, the Company may enter into contracts in which it makes representations and warranties that relate to the performance of the Company’s services and products. The Company does not expect any material losses related to such representations and warranties.
v3.25.2
Reclassification out of Accumulated Other Comprehensive Income ("AOCI")
 12 Months Ended
Jun. 30, 2025
Reclassification out of Accumulated Other Comprehensive Income [Abstract]  
Reclassification out of Accumulated Other Comprehensive Income ("AOCI") RECLASSIFICATION OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")
Comprehensive income is a measure of income that includes both net earnings and other comprehensive income/(loss). Other comprehensive income/(loss) results from items deferred on the Consolidated Balance Sheets in stockholders' equity. Other comprehensive income/(loss) was $924.9 million, $497.5 million, and ($312.1) million in fiscal 2025, 2024, and 2023, respectively. Changes in AOCI by component are as follows:
Currency Translation AdjustmentNet Gains/(Losses) on Available-for-sale SecuritiesCash Flow Hedging ActivitiesPension LiabilityAccumulated Other Comprehensive Income/(Loss)
Balance at June 30, 2022$(354.2)$(1,330.0)$(26.6)$(282.9)$(1,993.7)
Other comprehensive income/(loss) before reclassification adjustments13.4 (500.3)— 60.3 (426.6)
Tax effect— 113.3 — (13.3)100.0 
Reclassification adjustments to net earnings— 14.7 (A)4.4 (C)(0.4)(B)18.7 
Tax effect— (3.3)(1.1)0.2 (4.2)
Balance at June 30, 2023$(340.8)$(1,705.6)$(23.3)$(236.1)$(2,305.8)
Other comprehensive (loss)/income before reclassification adjustments(38.0)685.2 — 5.6 652.8 
Tax effect— (162.2)— (1.1)(163.3)
Reclassification adjustments to net earnings— 5.9 (A)4.4 (C)0.1 (B)10.4 
Tax effect— (1.3)(1.1)— (2.4)
Balance at June 30, 2024$(378.8)$(1,178.0)$(20.0)$(231.5)$(1,808.3)
Other comprehensive income/(loss) before reclassification adjustments89.0 1,088.4 (15.6)8.5 1,170.3 
Tax effect— (250.7)3.8 (2.1)(249.0)
Reclassification adjustments to net earnings— 1.7 (A)5.4 (C)(2.4)(B)4.7 
Tax effect— (0.3)(1.3)0.5 (1.1)
Balance at June 30, 2025$(289.8)$(338.9)$(27.7)$(227.0)$(883.4)

(A) Reclassification adjustments out of AOCI are included within Other (income)/expense, net, on the Statements of Consolidated Earnings.

(B) Reclassification adjustments out of AOCI are included in Net pension (income)/expense (see Note 11).

(C) Reclassification adjustments out of AOCI are included in Interest expense on the Statements of Consolidated Earnings (see Note 10).
v3.25.2
Financial Data By Segment And Geographic Area
 12 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Financial Data By Segment And Geographic Area FINANCIAL DATA BY SEGMENT AND GEOGRAPHIC AREA
Based upon similar economic and operational characteristics, the Company’s strategic business units have been aggregated into the following two reportable segments: Employer Services and PEO Services. Certain revenues and expenses are charged to the reportable segments at a standard rate for management reasons. Other costs are recorded based on management responsibility.

The Company's Chief Operating Decision Maker ("CODM") is the Chief Executive Officer. For each reportable segment, the CODM uses earnings before income taxes, including plan-to-actual and forecast-to-actual results, to assess segment performance and allocate resources (including personnel and capital resources) amongst its strategic business units. The CODM does not review assets at the reportable segment level, hence segment disclosure relating to total assets has not been provided.
The following tables present the Company's revenues, significant segment expenses, and earnings before income taxes by reportable segment:

Year ended June 30, 2025Employer ServicesPEO ServicesTotal
Revenues from external customers$12,692.2 $6,679.6 $19,371.8 
Interest on funds held for clients1,178.3 10.8 1,189.1 
Intercompany revenues 12.6 — 12.6 
Total segment revenues13,883.1 6,690.4 20,573.5 
Reconciliation of revenues:
Intercompany eliminations(12.6)
Total consolidated revenues$20,560.9 
Less segment expenses: (a)
Selling and marketing2,177.1 362.8 
Zero-margin benefits pass-through costs— 4,289.0 
Worker's compensation coverage and state unemployment taxes— 681.3 
Other segment expenses (b)6,697.5 406.8 
Total segment earnings before income taxes5,008.5 950.5 5,959.0 
Reconciliation of earnings before income taxes:
Other (c)(648.9)
Total consolidated earnings before income taxes$5,310.1 

Year ended June 30, 2024Employer ServicesPEO ServicesTotal
Revenues from external customers$11,953.6 $6,224.3 $18,177.9 
Interest on funds held for clients1,015.4 9.3 1,024.7 
Intercompany revenues 11.8 — 11.8 
Total segment revenues12,980.8 6,233.6 19,214.4 
Reconciliation of revenues:
Intercompany eliminations(11.8)
Total consolidated revenues$19,202.6 
Less segment expenses: (a)
Selling and marketing2,025.0 330.5 
Zero-margin benefits pass-through costs— 3,975.9 
Worker's compensation coverage and state unemployment taxes— 613.4 
Other segment expenses (b)6,400.3 392.3 
Total segment earnings before income taxes4,555.5 921.5 5,477.0 
Reconciliation of earnings before income taxes:
Other (c)(604.7)
Total consolidated earnings before income taxes$4,872.3 
Year ended June 30, 2023Employer ServicesPEO ServicesTotal
Revenues from external customers$11,222.0 $5,976.8 $17,198.8 
Interest on funds held for clients806.0 7.4 813.4 
Intercompany revenues 14.6 — 14.6 
Total segment revenues12,042.6 5,984.2 18,026.8 
Reconciliation of revenues:
Intercompany eliminations(14.6)
Total consolidated revenues$18,012.2 
Less segment expenses: (a)
Selling and marketing1,885.3 307.4 
Zero-margin benefits pass-through costs— 3,800.9 
Worker's compensation coverage and state unemployment taxes— 606.3 
Other segment expenses (b)6,183.1 292.3 
Total segment earnings before income taxes3,974.2 977.3 4,951.5 
Reconciliation of earnings before income taxes:
Other (c)(513.9)
Total consolidated earnings before income taxes$4,437.6 
(a) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intercompany expenses are included in the amounts shown.
(b) Other segment expenses for both reportable segments include operating, research and development, depreciation and amortization, and other general and administrative expenses.
(c) Other represents certain corporate overhead charges and expenses that have not been allocated to the reportable segments, including corporate functions, legal settlements, severance costs, non-recurring gains and losses, the elimination of intercompany transactions, and interest income and expense.

The following table presents the Company's depreciation and amortization included in earnings before income taxes for each reportable segment:

Years ended June 30,202520242023
Employer Services$512.4 $486.6 $467.6 
PEO Services6.7 6.8 7.5 
Other63.3 68.5 74.2 
Total depreciation and amortization$582.4 $561.9 $549.3 
The following table presents the Company's revenues and assets by geographic area:
United StatesEuropeCanadaOtherTotal
Year ended June 30, 2025
Revenues$18,179.2 $1,533.5 $489.3 $358.9 $20,560.9 
Assets$46,763.0 $3,025.5 $2,750.7 $830.1 $53,369.3 
Year ended June 30, 2024
Revenues$16,934.2 $1,451.4 $473.7 $343.3 $19,202.6 
Assets$47,989.9 $2,800.8 $2,796.6 $775.4 $54,362.7 
Year ended June 30, 2023
Revenues$15,950.9 $1,309.2 $427.5 $324.6 $18,012.2 
Assets$44,565.9 $2,602.2 $3,022.0 $780.9 $50,971.0 
v3.25.2
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Jun. 30, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
(In thousands)
Column AColumn BColumn CColumn DColumn E
Additions
(1)(2)
Balance at beginning of yearCharged to costs and expensesCharged to other accounts (A)DeductionsBalance at end of year
Year ended June 30, 2025:
Allowance for doubtful accounts:
Current$52,223 $24,277 $316 $(29,716)(B)$47,100 
Long-term$113 $— $— $— (B)$113 
Deferred tax valuation allowance$11,119 $809 $12,817 $(981)$23,764 
Year ended June 30, 2024:
Allowance for doubtful accounts:
Current$53,080 $34,642 $39 $(35,538)(B)$52,223 
Long-term$113 $— $— $— (B)$113 
Deferred tax valuation allowance$18,600 $228 $1,216 $(8,925)$11,119 
Year ended June 30, 2023:
Allowance for doubtful accounts:
Current$56,768 $23,412 $(34)$(27,066)(B)$53,080 
Long-term$83 $— $30 $— (B)$113 
Deferred tax valuation allowance$18,867 $28 $366 $(661)$18,600 

(A) Includes amounts related to foreign exchange fluctuation.
(B) Doubtful accounts written off, less recoveries on accounts previously written off.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Insider Trading Policies and Procedures
 12 Months Ended
Jun. 30, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.2
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Jun. 30, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
At ADP, security is integral to our products, our business processes and infrastructure. We have an enterprise-wide approach to security with the objectives of protecting client data and funds, and preventing security incidents that could adversely affect the confidentiality, integrity, or availability of our information systems and data that resides in those systems, while also improving our system resilience with the aim of minimizing the impact to our business when incidents do occur.

In connection with our business, we collect, host, store, transfer, process, disclose, use, secure, retain and dispose of large amounts of personal and business information about our clients, employees of our clients, our vendors, our partners, and our employees, contractors and temporary staff. We also collect significant amounts of funds from the accounts of our clients and transmit them to their employees, tax authorities and other payees. As the global environment continues to grow increasingly hostile and attacks on information technology systems continue to grow in frequency, complexity and sophistication, we are regularly targeted by unauthorized parties using malicious tactics, code and viruses. Although this is a global problem, it may affect our businesses more than other businesses because unauthorized parties may focus on the amount and type of personal and business information that our businesses collect, host, store, transfer, process, disclose, use, secure, retain and dispose of, and the client funds that we collect and transmit.

ADP has implemented a cybersecurity program designed to assess, identify, and manage risks from cybersecurity threats. Our cybersecurity policies, processes, and standards are informed by industry practices and by industry frameworks and standards such as the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework and the International Organization for Standardization information security standards, including those standards for which we do not have a certification, but we do exercise judgment in selecting applicable controls from such framework or standards. Our cybersecurity program includes:

•Technical Safeguards. We have implemented a layered approach to defend against cybersecurity threats. We periodically evaluate technical controls through application security assessments, vulnerability management, penetration testing, and security audits.

•Incident Management and Response. A global team monitors our key applications and systems 24/7/365 to detect, investigate and respond to anomalies and incidents. This team addresses reported or detected issues by following a defined incident lifecycle and uses an incident management system to record facts, impact and remedial actions taken. We have established a cybersecurity incident response plan and escalation process, outlining processes for responding to incidents from identification to mitigation and notifying members of senior leadership, the board of directors and external advisors, as appropriate. We test our plans and processes through simulation exercises, scenario planning and tabletop exercises, using findings to improve processes.

•External and Internal Assessments. We periodically engage assessors, consultants, auditors, and other third parties to evaluate our technology, security, and related controls and benchmark against industry practices. We engage in both internal and external assurance and audit activities across the company multiple times a year including an annual third-party review of our overall cybersecurity program.

•Threat Intelligence. We maintain affiliations with cybercrime task forces and other third-party monitoring organizations. In addition, we collaborate with professional security organizations, law enforcement and technology companies to proactively identify malicious activity.

•Business Resiliency Program. We have established a global, integrated business resiliency program designed to manage the impacts of technological, environmental, process and health risks on service delivery. This program uses an integrated framework that lays out our mitigation, preparedness, response and recovery process.

•Third-Party Risk Management. We maintain a third-party risk management process, designed to identify and manage risks associated with our vendors, our partners and other third parties, that includes conducting security assessments prior to engagement and periodically during the engagement. We also seek to include security and privacy terms, where appropriate, in our contracts with third-party service providers that require third parties to maintain security controls to protect our data and notify us in the event of a cybersecurity incident.

•Security Awareness and Training Program. Our security training and awareness program is a continuous, dynamic initiative, designed to develop and maintain a security-focused culture and empower our associates to make responsible, secure decisions. As part of this awareness program, we communicate to our associates on a regular basis regarding key security topics and current events, best practices for addressing such cybersecurity threats, and
gamification to reinforce effective behaviors. All associates are also required to take an annual, interactive security training program that includes an overview of key security topics, policies and responsibilities.

We have also integrated cybersecurity related risks into our enterprise risk management program, which is designed to identify, prioritize, assess, monitor and mitigate the various risks confronting ADP, including cybersecurity risks. Our enterprise risk management team conducts a range of activities, including an annual enterprise risk management assessment.
We have been, and continue to be, the subject of cybersecurity attacks, including unauthorized intrusion, malicious software infiltration, network disruption, and denial of service. Although we believe that we maintain a robust program of information security and controls and none of the cybersecurity incidents that we have identified to date have materially affected us, including our business strategy, results of operations, or financial condition, we cannot provide assurances that a cybersecurity incident will not materially affect us, or our business strategy, results of operations or financial condition in the future. For additional information on cybersecurity related risks, see “Item 1A. Risk Factors” of this Annual Report on Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] ADP has implemented a cybersecurity program designed to assess, identify, and manage risks from cybersecurity threats. Our cybersecurity policies, processes, and standards are informed by industry practices and by industry frameworks and standards such as the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework and the International Organization for Standardization information security standards, including those standards for which we do not have a certification, but we do exercise judgment in selecting applicable controls from such framework or standards.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our board of directors is actively engaged in the oversight of our global cybersecurity program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our board of directors receives regular, quarterly reports on these matters from our CSO and leadership from our global product and technology organization, including on the status of projects to strengthen the Company’s cybersecurity systems and improve cyber readiness, as well as on existing and emerging threat landscapes. In addition, the corporate development & technology committee of our board of directors receives regular, quarterly reports on our global product security and resiliency program led by leadership from our global product and technology organization with assistance from our CSO. Concurrent and in addition to these reports, our chief administrative officer (“CAO”) (who oversees legal, security and compliance matters) provides a legal, regulatory and ethics update at each meeting of the audit committee of our board of directors, which includes matters of cybersecurity, as appropriate. In addition, important actual or emerging cybersecurity events are communicated to the board of directors by our CAO and Chief Legal Officer, even if immaterial to us.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our board of directors receives regular, quarterly reports on these matters from our CSO and leadership from our global product and technology organization, including on the status of projects to strengthen the Company’s cybersecurity systems and improve cyber readiness, as well as on existing and emerging threat landscapes. In addition, the corporate development & technology committee of our board of directors receives regular, quarterly reports on our global product security and resiliency program led by leadership from our global product and technology organization with assistance from our CSO. Concurrent and in addition to these reports, our chief administrative officer (“CAO”) (who oversees legal, security and compliance matters) provides a legal, regulatory and ethics update at each meeting of the audit committee of our board of directors, which includes matters of cybersecurity, as appropriate. In addition, important actual or emerging cybersecurity events are communicated to the board of directors by our CAO and Chief Legal Officer, even if immaterial to us.
Cybersecurity Risk Role of Management [Text Block]
Our chief information security officer (“CISO”) leads our global cybersecurity program and oversees the global cybersecurity services team, which is responsible for monitoring, identifying, assessing and managing cybersecurity threats across ADP. Our CISO reports to our chief security officer (“CSO”), who leads our global security organization and is responsible for cybersecurity, fraud prevention, operational risk management, client security management, and workforce protection. Our CSO has over 25 years of experience in a range of security roles, including serving as a chief security officer at another public company, and participates in various cyber security organizations. The current CISO has served in various roles in cybersecurity and information technology for over 25 years and has attained the professional certification of Certified Information Security Manager.

Our board of directors is actively engaged in the oversight of our global cybersecurity program. Our board of directors receives regular, quarterly reports on these matters from our CSO and leadership from our global product and technology organization, including on the status of projects to strengthen the Company’s cybersecurity systems and improve cyber readiness, as well as on existing and emerging threat landscapes. In addition, the corporate development & technology committee of our board of directors receives regular, quarterly reports on our global product security and resiliency program led by leadership from our global product and technology organization with assistance from our CSO. Concurrent and in addition to these reports, our chief administrative officer (“CAO”) (who oversees legal, security and compliance matters) provides a legal, regulatory and ethics update at each meeting of the audit committee of our board of directors, which includes matters of cybersecurity, as appropriate. In addition, important actual or emerging cybersecurity events are communicated to the board of directors by our CAO and Chief Legal Officer, even if immaterial to us.
Our global cybersecurity program is subject to an annual third-party assessment overseen by our board of directors and this assessment reviews all aspects of our cyber program. Findings are reported to our board of directors and, in response, ADP develops initiatives to improve our maturity across each of the pillars of the NIST Cybersecurity Framework. The status of these initiatives is then reviewed with our board of directors during its quarterly meetings. This governance process encourages an environment of continuous improvement.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our chief information security officer (“CISO”) leads our global cybersecurity program and oversees the global cybersecurity services team, which is responsible for monitoring, identifying, assessing and managing cybersecurity threats across ADP. Our CISO reports to our chief security officer (“CSO”), who leads our global security organization and is responsible for cybersecurity, fraud prevention, operational risk management, client security management, and workforce protection. Our CSO has over 25 years of experience in a range of security roles, including serving as a chief security officer at another public company, and participates in various cyber security organizations. The current CISO has served in various roles in cybersecurity and information technology for over 25 years and has attained the professional certification of Certified Information Security Manager.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CSO has over 25 years of experience in a range of security roles, including serving as a chief security officer at another public company, and participates in various cyber security organizations. The current CISO has served in various roles in cybersecurity and information technology for over 25 years and has attained the professional certification of Certified Information Security Manager.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our board of directors is actively engaged in the oversight of our global cybersecurity program. Our board of directors receives regular, quarterly reports on these matters from our CSO and leadership from our global product and technology organization, including on the status of projects to strengthen the Company’s cybersecurity systems and improve cyber readiness, as well as on existing and emerging threat landscapes. In addition, the corporate development & technology committee of our board of directors receives regular, quarterly reports on our global product security and resiliency program led by leadership from our global product and technology organization with assistance from our CSO. Concurrent and in addition to these reports, our chief administrative officer (“CAO”) (who oversees legal, security and compliance matters) provides a legal, regulatory and ethics update at each meeting of the audit committee of our board of directors, which includes matters of cybersecurity, as appropriate. In addition, important actual or emerging cybersecurity events are communicated to the board of directors by our CAO and Chief Legal Officer, even if immaterial to us.
Our global cybersecurity program is subject to an annual third-party assessment overseen by our board of directors and this assessment reviews all aspects of our cyber program. Findings are reported to our board of directors and, in response, ADP develops initiatives to improve our maturity across each of the pillars of the NIST Cybersecurity Framework. The status of these initiatives is then reviewed with our board of directors during its quarterly meetings. This governance process encourages an environment of continuous improvement.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.2
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Preparation Basis of Preparation. The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc., its subsidiaries and variable interest entity (“ADP” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Intercompany balances and transactions have been eliminated in consolidation.
The Company has a grantor trust, which holds the majority of the funds provided by its clients pending remittance to employees of those clients, tax authorities, and other payees. The Company is the sole beneficial owner of the trust. The trust meets the criteria in Accounting Standards Codification (“ASC”) 810, “Consolidation” to be characterized as a variable interest entity (“VIE”). The Company has determined that it has a controlling financial interest in the trust because it has both (1) the power to direct the activities that most significantly impact the economic performance of the trust (including the power to make all investment decisions for the trust) and (2) the right to receive benefits that could potentially be significant to the trust (in the form of investment returns) and therefore, consolidates the trust. Further information on these funds and the Company’s obligations to remit to its clients’ employees, tax authorities, and other payees is provided in Note 5, “Corporate Investments and Funds Held for Clients.”

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the assets, liabilities, revenues, expenses, and other comprehensive income that are reported in the Consolidated Financial Statements and footnotes thereto. Actual results may differ from those estimates.
Certain amounts from the comparative financial statements have been reclassified in order to conform to the current year's presentation.
Description of Business Description of Business. The Company is a provider of cloud-based Human Capital Management (“HCM”) solutions. The Company classifies its operations into the following two reportable segments: Employer Services and Professional Employer Organization (“PEO”) Services. The primary components of the "Other" category include certain corporate overhead charges and expenses that have not been allocated to the reportable segments, including corporate functions, legal settlements, severance costs, non-recurring gains and losses, the elimination of intercompany transactions, and interest expense.
Revenue Recognition Revenue Recognition. Revenues are primarily attributable to fees for providing services (e.g., Employer Services' payroll processing fees), investment income on payroll funds, payroll tax filing funds, other Employer Services' client-related funds, and fees charged to implement clients on the Company's solutions. The Company enters into agreements for a fixed fee per transaction (e.g., number of payees).
The Company enters into service agreements with clients that include anywhere from one service to a full suite of services. The Company’s agreements vary in duration having a legally enforceable term of 30 days to 7 years. The performance obligations in the agreements are generally combined into one performance obligation, as they are considered a series of distinct services, and are satisfied over time because the client simultaneously receives and consumes the benefits provided as the Company performs the services. The Company uses the output method based on a fixed fee per employee serviced to recognize revenue, as the value to the client of the goods or services transferred to date (e.g., number of payees) appropriately depicts our performance towards complete satisfaction of the performance obligation. The fees are typically billed in the period in which services are performed.

PEO, a component of the HR Outsourcing (“HRO”) business, provides a comprehensive human resources outsourcing solution, including offering benefits, providing workers’ compensation insurance, and administering state unemployment insurance, among other human resources functions. Amounts collected from PEO worksite employers include payroll and payroll taxes, fees for benefits, and an administrative fee that also includes payroll taxes, fees for workers’ compensation and state unemployment taxes.

The payroll and payroll taxes collected from the worksite employers are presented in revenue net, as the Company does not retain risk and acts as an agent with respect to this aspect of the PEO arrangement. With respect to the payroll and payroll taxes, the PEO worksite employer is primarily responsible for providing the service and has discretion in establishing wages.
The fees collected from the worksite employers for benefits (i.e., PEO zero-margin benefits pass-throughs), workers’ compensation and state unemployment taxes are presented in revenues and the associated costs of benefits, workers’ compensation and state unemployment taxes are included in operating expenses, as the Company does retain risk and acts as a principal with respect to this aspect of the arrangement. With respect to these fees, the Company is primarily responsible for fulfilling the service and has discretion in establishing price.

We recognize client fund interest income on collected but not yet remitted funds held for clients in revenues as earned, as the collection, holding and remittance of these funds are critical components of providing these services.

Set up fees received from certain clients to implement the Company's solutions are considered a material right. Therefore, the Company defers revenue associated with these set up fees and records them over the period in which such clients are expected to benefit from the material right, which is approximately five to seven years.

Collection of consideration the Company expects to receive to perform its services typically occurs within 30 to 60 days of billing. We assess the collectability of revenues based primarily on the creditworthiness of the customer as determined by credit checks and analysis, as well as the customer's payment history and their intention to pay the consideration.
D. Deferred Costs.
Incremental Costs of Obtaining a Contract

Incremental costs of obtaining a contract (e.g., sales commissions) that are expected to be recovered are capitalized and amortized on a straight-line basis over a period of three to eight years, depending on the business unit. Incremental costs of obtaining a contract include only those costs the Company incurs to obtain a contract that it would not have incurred if the contract had not been obtained. These costs are included in selling, general and administrative expenses.
Costs to fulfill a Contract

The Company capitalizes costs incurred to fulfill its contracts that i) relate directly to the contract ii) are expected to generate resources that will be used to satisfy the Company's performance obligations under the contract and iii) are expected to be recovered through revenue generated under the contract. Costs incurred to implement clients on our solutions (e.g., direct labor) are capitalized and amortized on a straight-line basis over the expected client relationship period if the Company expects to recover those costs. The expected client relationship period ranges from three to eight years. These costs are included in operating expenses.
The Company has estimated the amortization periods for the deferred costs by using its historical client retention by business units to estimate the pattern during which the service transfers.
Cash and Cash Equivalents Cash and Cash Equivalents. Highly liquid investment securities with a maturity of ninety days or less at the time of purchase are considered cash equivalents. The fair value of our cash and cash equivalents approximates carrying value.
Corporate Investments and Funds Held for Clients Corporate Investments and Funds Held for Clients. All of the Company's marketable securities are considered to be “available-for-sale” and, accordingly, are carried on the Consolidated Balance Sheets at fair value. Unrealized gains and losses, net of the related tax effect, are excluded from earnings and are reported as a separate component of accumulated other comprehensive income (loss) on the Consolidated Balance Sheets until realized. Realized gains and losses from the sale of available-for-sale securities are determined on an aggregate approach basis and are included in other (income)/expense, net on the Statements of Consolidated Earnings.
If the fair value of an available-for-sale debt security is below its amortized cost, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery. If either of those two conditions is met, the Company would recognize a charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value. If the Company does not intend to sell a security or it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in earnings, and an amount related to all other factors, which is recognized in accumulated other comprehensive income (loss).
Premiums and discounts are amortized or accreted over the life of the related available-for-sale security as an adjustment to the yield using the effective-interest method. Dividend and interest income are recognized when earned.
Fair Value Measurements Fair Value Measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date and is based upon the Company’s principal, or most advantageous, market for a specific asset or liability.
U.S. GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows:

Level 1 Fair value is determined based upon quoted prices for identical assets or liabilities that are traded in active markets.

Level 2 Fair value is determined based upon inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
· quoted prices for similar assets or liabilities in active markets;
· quoted prices for identical or similar assets or liabilities in markets that are not active;
· inputs other than quoted prices that are observable for the asset or liability; or
· inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Fair value is determined based upon inputs that are unobservable and reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based upon the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).

The Company's corporate investments and funds held for clients (see Note 5) are measured at fair value on a recurring basis as described below. Over 99% of the Company's available-for-sale securities included in Level 2 are valued based on prices obtained from an independent pricing service. To determine the fair value of the Company's Level 2 investments, the independent pricing service uses pricing models for each asset class that are consistent with what other market participants would use, including the market approach. Inputs and assumptions to the pricing model used by the independent pricing service are derived from market observable sources including: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and other market-related data. Since many fixed income securities do not trade on a daily basis, the independent pricing service applies available information, as applicable, through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing to prepare valuations. For the purposes of valuing the Company’s asset-backed securities and mortgage-backed securities (that are included within Other securities in Note 5), the independent pricing service includes additional inputs to the model such as monthly payment information, new issue data, and collateral performance. For the purposes of valuing the Company’s Municipal bonds, the independent pricing service includes quoted prices for similar assets, benchmark yield curves, and market corroborated inputs. While the Company is not provided access to the proprietary models of the third party pricing service, each quarterly reporting period, the Company reviews the inputs utilized by the independent pricing service and compares the valuations received from the independent pricing service to valuations from at least one other observable source for reasonableness. The Company has not adjusted the prices obtained from the independent pricing service and the Company believes the prices received from the independent pricing service are representative of the prices that would be received to sell the assets at the measurement date (exit price). The Company had no available-for-sale securities included in Level 1 and Level 3 at June 30, 2025.

The Company issued four series of fixed-rate notes with staggered maturities of 7 and 10-years totaling $4.0 billion (collectively the “Notes”). The fair value of the Notes are estimated in Note 10 utilizing a variety of inputs obtained from an independent pricing service, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data. The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually. The Company reviews the values generated by the independent pricing service for reasonableness by comparing the valuations received from the independent pricing service to valuations from at least one other observable source. The Company has not adjusted the prices obtained from the independent pricing service.

The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of assets and liabilities within the fair value hierarchy. In certain instances, the inputs used to measure fair value may meet the definition of more than one level of the fair value hierarchy. The significant input with the lowest level priority is used to determine the applicable level in the fair value hierarchy.
Property, Plant and Equipment Property, Plant and Equipment. Property, plant and equipment is stated at cost less accumulated depreciation on the Consolidated Balance Sheets. Depreciation is recognized over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the
improvements. The estimated useful lives of assets are primarily as follows:
Data processing equipment
5 to 10 years
Buildings
20 to 40 years
Furniture and fixtures
4 to 7 years
Leases Leases. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. The lease liabilities are measured by discounting future lease payments at the Company’s collateralized incremental borrowing rate for financing instruments of a similar term, unless the implicit rate is readily determinable. ROU assets also include adjustments related to prepaid or deferred lease payments and lease incentives. Lease ROU assets are amortized over the life of the lease and assessed for impairment in the event there is a modification or an early termination.
Goodwill Goodwill. Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is tested annually for impairment or more frequently when an event or circumstance indicates that goodwill might be impaired.
The Company's annual goodwill impairment assessment as of June 30, 2025 was performed for all reporting units using a quantitative approach by comparing the fair value of each reporting unit to its carrying value. We estimated the fair value of each reporting unit using, as appropriate, the income approach, which is derived using the present value of future cash flows discounted at a risk-adjusted weighted-average cost of capital, and the market approach, which is based upon using market multiples of companies in similar lines of business. Significant assumptions used in determining the fair value of our reporting units include projected revenue growth rates, profitability projections, working capital assumptions, the weighted average cost of capital, the determination of appropriate market comparison companies, and terminal growth rates. Several of these assumptions, including projected revenue growth rates and profitability projections are dependent on our ability to upgrade, enhance, and expand our technology and services to meet client needs and preferences. As such, the determination of fair value requires management to make significant estimates and assumptions related to forecasts of future revenue and operating margins. Based upon the quantitative assessment, the Company has concluded that goodwill is not impaired.
Impairment of Long-Lived Assets Impairment of Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Foreign Currency Foreign Currency. The net assets of the Company's foreign subsidiaries are translated into U.S. dollars based on exchange rates in effect for each period, and revenues and expenses are translated at average exchange rates in the periods. Gains or losses from balance sheet translation are included in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. Currency transaction gains or losses, which are included in the results of operations, are not significant for all periods presented.
Foreign Currency Risk Management Programs and Derivative Financial Instruments Foreign Currency Risk Management Programs and Derivative Financial Instruments. The Company transacts business in various foreign jurisdictions and is therefore exposed to market risk from changes in foreign currency exchange rates that could impact its consolidated results of operations, financial position, or cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company does not use derivative financial instruments for trading purposes.
Earnings Per Share ("EPS") Earnings per Share (“EPS”). The Company computes EPS in accordance with ASC 260.
The calculations of basic and diluted EPS are as follows:
Years ended June 30,BasicEffect of Employee Stock Option SharesEffect of
Employee
Restricted
Stock
Shares		Diluted
2025    
Net earnings$4,079.7   $4,079.7 
Weighted average shares (in millions)407.1 0.6 1.0 408.7 
EPS$10.02   $9.98 
2024    
Net earnings$3,752.0   $3,752.0 
Weighted average shares (in millions)410.6 0.7 0.9 412.2 
EPS$9.14   $9.10 
2023    
Net earnings$3,412.0   $3,412.0 
Weighted average shares (in millions)413.7 0.9 1.1 415.7 
EPS$8.25   $8.21 

Shares that could potentially dilute basic EPS in the future include outstanding share-based compensation awards, discussed in Note 11. For fiscal 2025 and 2024, there were no shares excluded from the calculation of diluted EPS, and in fiscal 2023, there were 0.2 million shares excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive.
Stock-Based Compensation Stock-Based Compensation. The Company recognizes stock-based compensation expense in net earnings based on the fair value of the award on the date of the grant, and in the case of international units settled in cash, adjusts this fair value based on changes in the Company's stock price during the vesting period. Time-based restricted stock units are valued based on the closing price of the Company's common stock on the date of the grant and, in the case of performance based restricted stock units, are valued based on the grant date fair value of such awards and are adjusted for changes to probabilities of achieving performance targets. See Note 11 for additional information on the Company's stock-based compensation programs.
Internal Use Software Internal Use Software. Expenditures for major software purchases and software developed or obtained for internal use are capitalized and amortized generally over a three to five-year period on a straight-line basis. Software developed as part of the Company's next-generation platforms are depreciated over ten years. The Company begins to capitalize costs incurred for computer software developed for internal use when the preliminary development efforts are successfully completed, management has authorized and committed to funding the project, and it is probable that the project will be completed and the software will be used as intended. Capitalization ceases when a computer software project is substantially complete and ready for its intended use.
The Company's policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation stage activities are expensed as incurred. The Company also expenses internal costs related to minor upgrades and enhancements, as it is impractical to separate these costs from normal maintenance activities.

Fees related to cloud-based subscriptions for which the Company has the right to take possession of the software at any time during the hosting period (without significant penalty) and can run the software on internal hardware, or through contract with a third party vendor to host the software, is recognized as an intangible asset and capitalized following the Internal Use Software guidance under ASC 350-40. Subscriptions where the Company accesses the software through the cloud but cannot take
possession of the software during the hosting period is treated as a service contract, and as such hosting fees are treated as expense.
Acquisitions Acquisitions. Assets acquired and liabilities assumed in business combinations are recorded on the Company’s Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates. The results of operations of businesses acquired by the Company are included in the Statements of Consolidated Earnings since their respective dates of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed is allocated to goodwill. In certain circumstances, the allocations of the excess purchase price are based upon preliminary estimates and assumptions and subject to revision when the Company receives final information, including appraisals and other analysis. Accordingly, the measurement period for such purchase price allocations will end when the information, or the facts and circumstances, becomes available, but will not exceed twelve months.
Income Taxes Income Taxes. The objectives of accounting for income taxes are to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity's financial statements or tax returns. Judgment is required in addressing the future tax consequences of events that have been recognized in our Consolidated Financial Statements or tax returns (e.g., realization of deferred tax assets, changes in tax laws or interpretations thereof). A change in the assessment of the outcomes of such matters could materially impact our Consolidated Financial Statements.
There is a financial statement recognition threshold and measurement attribute for tax positions taken or expected to be taken in a tax return. Specifically, the likelihood of an entity's tax benefits being sustained must be “more likely than not,” assuming that these positions will be examined by tax authorities with full knowledge of all relevant information prior to recording the related tax benefit in the financial statements. If a tax position drops below the “more likely than not” standard, the benefit can no longer be recognized. Assumptions, judgment, and the use of estimates are required in determining if the “more likely than not” standard has been met when developing the provision for income taxes. As of June 30, 2025 and 2024, the Company's liabilities for unrecognized tax benefits, which include interest and penalties, were $163.0 million and $126.9 million, respectively.
Workers' Compensation Costs Workers’ Compensation Costs. The Company employs a third-party actuary to assist in determining the estimated claim liability related to workers’ compensation and employer's liability coverage for PEO Services worksite employees. In estimating ultimate loss rates, we utilize historical loss experience, exposure data, and actuarial judgment, together with a range of inputs which are primarily based upon the worksite employee's job responsibilities, their location, the historical frequency and severity of workers’ compensation claims, and an estimate of future cost trends. For each reporting period, changes in the actuarial assumptions resulting from changes in actual claims experience and other trends are incorporated into our workers’ compensation claims cost estimates. PEO Services has secured a workers’ compensation and employer’s liability insurance policy that caps the exposure for each claim at $1 million per occurrence and has also secured aggregate stop loss insurance that caps aggregate losses at a certain level in fiscal years 2012 and prior from an admitted and licensed insurance company of AIG. The Company has obtained approximately $351 million of irrevocable standby letters of credit in favor of licensed insurance companies of AIG to secure TotalSource workers’ compensation obligations if ADP were to fail to reimburse AIG for workers’ compensation payments. The Company had no drawdowns during June 30, 2025 and 2024 under the letters of credit.
Additionally, starting in fiscal 2013, ADP Indemnity paid premiums to enter into reinsurance arrangements with ACE American Insurance Company, a wholly-owned subsidiary of Chubb Limited, to cover substantially all losses incurred by the Company up to the $1 million per occurrence related to workers’ compensation and employer's liability deductible reimbursement insurance protection for PEO services worksite employees. Each of these reinsurance arrangements limit our overall exposure incurred up to a certain limit. The Company believes the likelihood of ultimate losses exceeding this limit is remote. ADP Indemnity paid a premium of $276 million to enter into a reinsurance arrangement with Chubb Limited to cover substantially all losses incurred by ADP Indemnity for the fiscal 2025 policy year up to $1 million per occurrence. ADP Indemnity paid a premium of $278 million in July 2025 to enter into a reinsurance arrangement to cover substantially all losses for the fiscal 2026 policy year on terms substantially similar to the fiscal 2025 policy.
Contingencies Contingencies. In the normal course of business, the Company is subject to loss contingencies, such as claims and assessments arising from litigation and other legal proceedings, contractual indemnities, and tax matters. Accruals for loss contingencies are recorded when the Company determines that it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated. If the estimate of the amount of the loss is a range and some amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued as a liability. If no amount within the range is a better estimate than any other amount, the minimum amount of the range is accrued as a liability. These accruals are adjusted periodically as assessments change or additional information becomes available. The loss contingencies are included in selling, general and administrative expenses.
If no accrual is made for a loss contingency because the amount of loss cannot be reasonably estimated, the Company will disclose material contingent liabilities when there is at least a reasonable possibility that a loss or an additional loss may have been incurred.

Legal fees and other costs related to litigation and other legal proceedings or services are expensed as incurred and are included in selling, general and administrative expenses.

Any claim for insurance recovery is recognized only when realization becomes probable.
Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements.
Recently Adopted Accounting Pronouncements

Effective June 30, 2025, the Company adopted accounting standard update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This update resulted in enhanced disclosures about the Company's reportable segments. The adoption of ASU 2023-07 did not have a material impact on the Company's consolidated results of operations, financial condition, or cash flows. Refer to Note 15 for further details.

Recently Issued Accounting Pronouncements

StandardDescriptionEffective DateEffect on Financial Statements or Other Significant Matters
ASU 2024-03 Disaggregation of Income Statement Expenses (Subtopic 220-40)This update improves financial reporting by requiring enhanced disclosures of the expense captions in the Income Statement within the Notes to the financial statements.June 30, 2028
(fiscal 2028)		The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax DisclosuresThis update enhances the transparency and decision usefulness of income tax disclosures to better assess how an entity’s operations and related tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flows. June 30, 2026
(fiscal 2026)		The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
v3.25.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of Estimated Useful Lives The estimated useful lives of assets are primarily as follows:
Data processing equipment
5 to 10 years
Buildings
20 to 40 years
Furniture and fixtures
4 to 7 years
Schedule of Earnings Per Share, Basic and Diluted
The calculations of basic and diluted EPS are as follows:
Years ended June 30,BasicEffect of Employee Stock Option SharesEffect of
Employee
Restricted
Stock
Shares		Diluted
2025    
Net earnings$4,079.7   $4,079.7 
Weighted average shares (in millions)407.1 0.6 1.0 408.7 
EPS$10.02   $9.98 
2024    
Net earnings$3,752.0   $3,752.0 
Weighted average shares (in millions)410.6 0.7 0.9 412.2 
EPS$9.14   $9.10 
2023    
Net earnings$3,412.0   $3,412.0 
Weighted average shares (in millions)413.7 0.9 1.1 415.7 
EPS$8.25   $8.21 
v3.25.2
Revenue (Tables)
 12 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue
The following tables provide details of the Company's revenues and includes a reconciliation to the Company’s reportable segments:
Years Ended
June 30,
Types of Revenues202520242023
HCM$8,674.5 $8,155.7 $7,716.1 
HRO, excluding PEO zero-margin benefits pass-throughs3,782.3 3,544.2 3,386.0 
PEO zero-margin benefits pass-throughs4,289.0 3,975.9 3,800.9 
Global2,626.0 2,502.1 2,295.8 
Interest on funds held for clients1,189.1 1,024.7 813.4 
Total Revenues$20,560.9 $19,202.6 $18,012.2 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2025:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$8,684.5 $— $(10.0)$8,674.5 
HRO, excluding PEO zero-margin benefits pass-throughs1,394.3 2,390.6 (2.6)3,782.3 
PEO zero-margin benefits pass-throughs— 4,289.0 — 4,289.0 
Global2,626.0 — — 2,626.0 
Interest on funds held for clients1,178.3 10.8 — 1,189.1 
Total Segment Revenues$13,883.1 $6,690.4 $(12.6)$20,560.9 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2024:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$8,164.2 $— $(8.5)$8,155.7 
HRO, excluding PEO zero-margin benefits pass-throughs1,299.1 2,248.4 (3.3)3,544.2 
PEO zero-margin benefits pass-throughs— 3,975.9 — 3,975.9 
Global2,502.1 — — 2,502.1 
Interest on funds held for clients1,015.4 9.3 — 1,024.7 
Total Segment Revenues$12,980.8 $6,233.6 $(11.8)$19,202.6 

Reconciliation of disaggregated revenue to our reportable segments for the fiscal year ended June 30, 2023:
Types of RevenuesEmployer ServicesPEOOtherTotal
HCM$7,724.7 $— $(8.6)$7,716.1 
HRO, excluding PEO zero-margin benefits pass-throughs1,216.1 2,175.9 (6.0)3,386.0 
PEO zero-margin benefits pass-throughs— 3,800.9 — 3,800.9 
Global2,295.8 — — 2,295.8 
Interest on funds held for clients806.0 7.4 — 813.4 
Total Segment Revenues$12,042.6 $5,984.2 $(14.6)$18,012.2 
Summary of Contract with Customer, Liability
Changes in deferred revenue related to set up fees for the fiscal year ended June 30, 2025 were as follows:
Contract Liability
Contract liability, July 1, 2024$491.6 
Recognition of revenue included in beginning of year contract liability(134.1)
Contract liability, net of revenue recognized on contracts during the year140.4 
Currency translation adjustments22.3 
Contract liability, June 30, 2025$520.2 
Summary of Deferred Costs
The balance is as follows:
June 30,20252024
Deferred costs to obtain a contract$1,438.6 $1,353.0 
Deferred costs to fulfill a contract1,715.5 1,612.0 
Total deferred contract costs (1)$3,154.1 $2,965.0 

(1) The amount of total deferred costs amortized during the fiscal years ended June 30, 2025, June 30, 2024, and June 30, 2023 were $1,145.3 million, $1,067.6 million, and $992.9 million, respectively.
v3.25.2
Acquisitions (Tables)
 12 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price, Net of Cash Acquired
The following table reconciles the purchase price to the cash paid for the acquisition, net of cash acquired:
Purchase price$1,170.8 
Less: cash acquired(12.5)
Cash paid for acquisition of business, net of cash acquired$1,158.3 
Schedule of Preliminary Purchase Price Allocation The preliminary purchase price allocation for WorkForce Software is as follows:
Cash$12.5 
Accounts receivable, net of allowance for doubtful accounts20.0 
Identifiable intangible assets (1)292.0 
Goodwill880.4 
Deferred income taxes, net of valuation allowance51.2 
All other assets14.8 
Total assets acquired$1,270.9 
Deferred revenue$39.6 
All other liabilities60.5 
Total liabilities assumed$100.1 
Total net assets acquired$1,170.8 

(1) Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes an estimated valuation by an independent third-party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the Company and other market participants, projected customer attrition rates, as well as applicable royalty rates for comparable assets. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to the future cash flows. The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:

Estimated Fair ValueEstimated Useful Life
(in years)
Technology$115.0 7
Customer/Partner relationships$170.0 8
Tradename$7.0 4
Schedule of Finite-Lived Intangible Assets The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:
Estimated Fair ValueEstimated Useful Life
(in years)
Technology$115.0 7
Customer/Partner relationships$170.0 8
Tradename$7.0 4
Components of intangible assets, net, are as follows:
June 30,20252024
Intangible assets:  
Software and software licenses$4,103.6 $3,803.7 
Customer contracts and lists1,429.4 1,181.6 
Other intangibles249.8 242.0 
 5,782.8 5,227.3 
Less accumulated amortization:  
Software and software licenses(2,830.3)(2,642.6)
Customer contracts and lists(1,105.6)(1,007.6)
Other intangibles(243.9)(241.1)
 (4,179.8)(3,891.3)
Intangible assets, net$1,603.0 $1,336.0 
v3.25.2
Other (Income)/Expense, Net (Tables)
 12 Months Ended
Jun. 30, 2025
Other Income, Net [Abstract]  
Summary of Other Income, Net
Other income, net consists of the following:

Years ended June 30,202520242023
Interest income on corporate funds$(319.5)$(241.3)$(149.5)
Realized losses on available-for-sale securities, net1.7 5.9 14.7 
Impairment of assets— — 2.1 
Gain on sale of assets(5.0)(17.1)— 
Non-service components of pension income, net(31.3)(34.2)(50.8)
Other income, net$(354.1)$(286.7)$(183.5)
v3.25.2
Corporate Investments And Funds Held For Clients (Tables)
 12 Months Ended
Jun. 30, 2025
Corporate Investments And Funds Held For Clients [Abstract]  
Schedule of Debt Securities, Available-for-sale
Corporate investments and funds held for clients at June 30, 2025 and 2024 were as follows:
 
 June 30, 2025
Amortized
Cost		Gross
Unrealized
 Gains		Gross
Unrealized
Losses		 Fair Value (A)
Type of issue:   
Money market securities, cash and other cash equivalents$5,054.6 $— $— $5,054.6 
Available-for-sale securities:    
Corporate bonds17,515.2 108.7 (420.2)17,203.7 
U.S. Treasury securities8,416.8 85.6 (43.7)8,458.7 
Canadian government obligations and
Canadian government agency obligations
1,972.0 16.4 (32.4)1,956.0 
Asset-backed securities1,837.8 22.6 (15.5)1,844.9 
U.S. government agency securities1,328.5 2.3 (80.0)1,250.8 
Canadian provincial bonds1,155.8 13.8 (27.7)1,141.9 
Other securities1,977.3 7.2 (62.8)1,921.7 
Total available-for-sale securities34,203.4 256.6 (682.3)33,777.7 
Total corporate investments and funds held for clients$39,258.0 $256.6 $(682.3)$38,832.3 

(A) Included within available-for-sale securities are corporate investments with fair values of $4,498.8 million and funds held for clients with fair values of $29,278.9 million. All available-for-sale securities are included in Level 2 of the fair value hierarchy.
 June 30, 2024
Amortized 
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value (B)
Type of issue:    
Money market securities, cash and other cash equivalents$10,086.0 $— $— $10,086.0 
Available-for-sale securities:
Corporate bonds16,833.3 11.5 (944.8)15,900.0 
U.S. Treasury securities7,701.2 9.0 (164.5)7,545.7 
Canadian government obligations and
   Canadian government agency obligations		2,130.7 1.7 (86.6)2,045.8 
U.S. government agency securities
1,645.0 0.5 (140.6)1,504.9 
Asset-backed securities1,394.9 3.9 (43.0)1,355.8 
Canadian provincial bonds1,116.3 2.3 (56.2)1,062.4 
Commercial mortgage-backed securities535.9 — (35.1)500.8 
Other securities1,366.0 2.0 (75.9)1,292.1 
Total available-for-sale securities32,723.3 30.9 (1,546.7)31,207.5 
Total corporate investments and funds held for clients$42,809.3 $30.9 $(1,546.7)$41,293.5 
(B) Included within available-for-sale securities are corporate investments with fair values of $384.0 million and funds held for clients with fair values of $30,823.5 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2025, are as follows:
 
June 30, 2025
Securities in unrealized loss position less than
12 months		Securities in unrealized loss position greater than 12 monthsTotal
Gross Unrealized
Losses		Fair Market
Value		Gross Unrealized
Losses		Fair Market
Value 		Gross
Unrealized
Losses		Fair
Market Value
Corporate bonds$(5.4)$690.4 $(414.8)$10,218.8 $(420.2)$10,909.2 
U.S. Treasury securities(0.8)732.2 (42.9)1,801.7 (43.7)2,533.9 
Canadian government obligations and
Canadian government agency obligations
(1.4)219.2 (31.0)870.2 (32.4)1,089.4 
Asset-backed securities(0.2)101.4 (15.3)481.4 (15.5)582.8 
U.S. government agency securities
(0.1)8.0 (79.9)1,093.8 (80.0)1,101.8 
Canadian provincial bonds(0.8)44.3 (26.9)588.8 (27.7)633.1 
Other securities(1.5)168.4 (61.3)1,130.2 (62.8)1,298.6 
 $(10.2)$1,963.9 $(672.1)$16,184.9 $(682.3)$18,148.8 

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2024 are as follows: 
June 30, 2024
Securities in unrealized loss position less than
12 months		Securities in unrealized loss position greater than 12 monthsTotal
Gross Unrealized
Losses		Fair Market
Value		Gross Unrealized
Losses		Fair Market
Value 		Gross
Unrealized
Losses		Fair
Market Value
Corporate bonds$(25.8)$2,173.6 $(919.0)$12,413.4 $(944.8)$14,587.0 
U.S. Treasury securities
(23.1)2,186.2 (141.4)4,076.9 (164.5)6,263.1 
Canadian government obligations and
Canadian government agency obligations
(0.9)304.6 (85.7)1,591.6 (86.6)1,896.2 
U.S. government agency securities
(0.7)51.5 (139.9)1,428.2 (140.6)1,479.7 
Asset-backed securities(2.3)351.4 (40.7)668.0 (43.0)1,019.4 
Canadian provincial bonds(1.3)193.0 (54.9)717.4 (56.2)910.4 
Commercial mortgage-backed securities(0.5)11.2 (34.6)489.6 (35.1)500.8 
Other securities(12.2)288.5 (63.7)864.8 (75.9)1,153.3 
 $(66.8)$5,560.0 $(1,479.9)$22,249.9 $(1,546.7)$27,809.9 
Schedule of Classification of Corporate Investments on the Consolidated Balance Sheets
Classification of corporate investments on the Consolidated Balance Sheets is as follows:
June 30,20252024
Corporate investments:  
Cash and cash equivalents$3,347.8 $2,913.4 
Short-term marketable securities4,498.8 384.0 
Total corporate investments$7,846.6 $3,297.4 
Schedule of Investment of Funds Held for Clients
Funds held for clients have been invested in the following categories:
June 30,20252024
Funds held for clients:  
Restricted cash and cash equivalents held to satisfy client funds obligations$1,706.8 $7,172.6 
Restricted short-term marketable securities held to satisfy client funds obligations3,155.7 5,538.1 
Restricted long-term marketable securities held to satisfy client funds obligations26,123.2 25,285.4 
Total funds held for clients$30,985.7 $37,996.1 
Schedule of Expected Maturities of Available-for-Sale Securities
Expected maturities of available-for-sale securities at June 30, 2025 are as follows:
One year or less$7,654.5 
One year to two years5,888.4 
Two years to three years4,322.9 
Three years to four years5,106.0 
After four years10,805.9 
Total available-for-sale securities$33,777.7 
v3.25.2
Property, Plant and Equipment (Tables)
 12 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment at cost and accumulated depreciation at June 30, 2025 and 2024 are as follows:
June 30,20252024
Property, plant and equipment:
Land and buildings$637.2 $648.1 
Data processing equipment1,264.5 1,185.2 
Furniture, leaseholds and other675.7 670.0 
2,577.4 2,503.3 
Less: accumulated depreciation(1,922.0)(1,817.7)
Property, plant and equipment, net$655.4 $685.6 
v3.25.2
Leases (Tables)
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Lease, Cost
The components of operating lease expense were as follows:
Year ended
June 30,
202520242023
Operating lease cost$111.8 $125.0 $135.2 
Short-term lease cost1.2 1.4 2.0 
Variable lease cost20.3 18.3 16.1 
Total operating lease cost$133.3 $144.7 $153.3 
The following table provides supplemental cash flow information related to the Company's leases:
Year ended
June 30,
202520242023
Cash paid for operating lease liabilities$127.5 $125.5 $129.2 
Operating lease ROU assets obtained in exchange for new operating lease liabilities$100.7 $97.4 $90.5 

Other information related to our operating lease liabilities is as follows:
June 30,June 30,
20252024
Weighted-average remaining lease term (in years)65
Weighted-average discount rate3.6 %3.3 %
Current operating lease liability$100.8 $92.2 
Schedule of Lessee, Operating Lease, Liability, Maturity
As of June 30, 2025, maturities of operating lease liabilities are as follows:
Twelve months ending June 30, 2026$107.8 
Twelve months ending June 30, 202798.6 
Twelve months ending June 30, 202876.9 
Twelve months ending June 30, 202953.1 
Twelve months ending June 30, 203042.4 
Thereafter90.4 
Total undiscounted lease obligations469.2 
Less: Imputed interest(47.2)
Net lease obligations$422.0 
v3.25.2
Goodwill And Intangible Assets, Net (Tables)
 12 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill
Changes in goodwill for the fiscal years ended June 30, 2025 and 2024 are as follows:
Employer
Services		PEO
Services		Total
Balance at June 30, 2023$2,334.6 $4.8 $2,339.4 
Additions and other adjustments24.4 — 24.4 
Currency translation adjustments(10.2)— (10.2)
Balance at June 30, 2024$2,348.8 $4.8 $2,353.6 
Additions and other adjustments887.0 — 887.0 
Currency translation adjustments32.9 — 32.9 
Balance at June 30, 2025$3,268.7 $4.8 $3,273.5 
Schedule of Finite-Lived Intangible Assets The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:
Estimated Fair ValueEstimated Useful Life
(in years)
Technology$115.0 7
Customer/Partner relationships$170.0 8
Tradename$7.0 4
Components of intangible assets, net, are as follows:
June 30,20252024
Intangible assets:  
Software and software licenses$4,103.6 $3,803.7 
Customer contracts and lists1,429.4 1,181.6 
Other intangibles249.8 242.0 
 5,782.8 5,227.3 
Less accumulated amortization:  
Software and software licenses(2,830.3)(2,642.6)
Customer contracts and lists(1,105.6)(1,007.6)
Other intangibles(243.9)(241.1)
 (4,179.8)(3,891.3)
Intangible assets, net$1,603.0 $1,336.0 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Estimated future amortization expenses of the Company's existing intangible assets are as follows:
 Amount
Twelve months ending June 30, 2026$575.5 
Twelve months ending June 30, 2027$251.0 
Twelve months ending June 30, 2028$208.2 
Twelve months ending June 30, 2029$176.6 
Twelve months ending June 30, 2030$133.4 
v3.25.2
Short-Term Financing (Tables)
 12 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Commercial Paper Program Details of the borrowings under the commercial paper program are as follows:
Years ended June 30,20252024
Average daily borrowings (in billions)$4.1 $3.5 
Weighted average interest rates4.8 %5.3 %
Weighted average maturity (approximately in days)2 days2 days
Schedule of Reverse Repurchase Agreement Details of the reverse repurchase agreements are as follows:
Years ended June 30,20252024
Average outstanding balances (in billions)$2.9 $1.8 
Weighted average interest rates4.8 %5.5 %
v3.25.2
Debt (Tables)
 12 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
The principal amounts and associated effective interest rates of the Notes and other debt as of June 30, 2025 and 2024 are as follows:
Debt instrumentEffective Interest RateJune 30, 2025June 30, 2024
Fixed-rate 3.375% notes due September 15, 2025
3.47%$— $1,000.0 
Fixed-rate 1.700% notes due May 15, 2028
1.85%1,000.0 1,000.0 
Fixed-rate 1.250% notes due September 1, 2030
1.83%1,000.0 1,000.0 
Fixed-rate 4.750% notes due May 8, 2032
4.95%1,000.0 — 
Fixed-rate 4.450% notes due September 9, 2034
4.75%1,000.0 — 
Other2.9 4.1 
4,002.9 3,004.1 
Less: current portion (a)(1.0)(1.1)
Less: unamortized discount and debt issuance costs(27.2)(11.7)
Total long-term debt$3,974.7 $2,991.3 

(a) - Current portion of long-term debt as of June 30, 2025 is included within accrued expenses and other current liabilities on the Consolidated Balance Sheets.
v3.25.2
Employee Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Stock-Based Compensation Expense
The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2025, 2024, and 2023, respectively:
Years ended June 30,202520242023
Operating expenses$36.0 $30.0 $24.6 
Selling, general and administrative expenses193.7 179.5 165.0 
Research and development36.4 34.0 30.8 
Total pretax stock-based compensation expense$266.1 $243.5 $220.4 
Income tax benefit$66.0 $60.2 $54.5 
Schedule of Changes in Stock Options Outstanding
Stock Options:
Number
of Options
(in thousands)		Weighted
Average Price
(in dollars)
Options outstanding at July 1, 20242,042 $159 
Options granted— $— 
Options exercised(1,004)$154 
Options forfeited/cancelled(3)$207 
Options outstanding at June 30, 20251,035 $164 
Options exercisable at June 30, 2025882 $157 
Schedule of Time Based Restricted Shares and Units
Time-Based Restricted Stock and Time-Based Restricted Stock Units:
Number of Shares
(in thousands)		Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2024124 1,053 
Restricted shares/units granted— 618 
Restricted shares/units vested(124)(435)
Restricted shares/units forfeited— (62)
Restricted shares/units outstanding at June 30, 2025— 1,174 
Schedule of Performance Based Restricted Shares and Units
Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:
Number of Shares
(in thousands)		Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 202488 753 
Restricted shares/units granted— 305 
Restricted shares/units vested(58)(293)
Restricted shares/units forfeited(3)(14)
Restricted shares/units outstanding at June 30, 202527 751 
Schedule of Weighted Average Fair Value of Restricted Stock Granted
The weighted average fair values of shares/units granted were as follows:
Years ended June 30,202520242023
(in dollars)
Performance-based restricted shares/units$283.84 $262.56 $245.96 
Time-based restricted shares/units$277.10 $255.29 $214.75 
Schedule of Net Funded Status
The Company's pension plans' funded status as of June 30, 2025 and 2024 is as follows:
June 30,20252024
Change in plan assets:
Fair value of plan assets at beginning of year$1,879.6 $1,854.4 
Actual return on plan assets147.7 106.8 
Employer contributions20.1 13.4 
Currency translation adjustments3.7 0.6 
Benefits paid(112.9)(95.6)
Fair value of plan assets at end of year$1,938.2 $1,879.6 
Change in benefit obligation:
Benefit obligation at beginning of year$1,706.2 $1,725.8 
Service cost6.0 5.2 
Interest cost87.4 84.6 
Actuarial loss/(gain) (a)26.0 (14.6)
Currency translation adjustments5.9 0.8 
Curtailments and special termination benefits(0.3)— 
Benefits paid(112.6)(95.6)
Projected benefit obligation at end of year$1,718.6 $1,706.2 
Funded status - plan assets less benefit obligations$219.6 $173.4 
(a) The actuarial loss for fiscal 2025 was primarily due to changes in the discount rate.
Schedule of Amounts Recognized in Balance Sheet
The amounts recognized on the Consolidated Balance Sheets as of June 30, 2025 and 2024 consisted of:
June 30,20252024
Noncurrent assets$334.2 $286.3 
Current liabilities(5.9)(11.1)
Noncurrent liabilities(108.7)(101.8)
Net amount recognized$219.6 $173.4 
Schedule of Defined Benefit Plan, Plan With Projected Benefit Obligation in Excess of Plan Assets
The Company's pension plans with projected benefit obligations in excess of plan assets as of June 30, 2025 and 2024 had the following projected benefit obligation and fair value of plan assets:
June 30,20252024
Projected benefit obligation$151.3 $143.7 
Fair value of plan assets$36.7 $30.8 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The Company's pension plans with accumulated benefit obligations in excess of plan assets as of June 30, 2025 and 2024 had the following accumulated benefit obligation and fair value of plan assets:
June 30,20252024
Accumulated benefit obligation$107.9 $108.6 
Fair value of plan assets$9.2 $7.6 
Schedule of Net Pension (Income)/ Expense
The components of net pension (income)/expense were as follows:
 202520242023
Service cost – benefits earned during the year$6.0 $5.2 $4.8 
Interest cost on projected benefits87.4 84.6 78.2 
Expected return on plan assets(116.0)(115.9)(127.5)
Net amortization and deferral3.2 2.9 1.9 
Special termination benefits, plan curtailments, and settlement charges(0.3)0.3 — 
Net pension (income)/expense$(19.7)$(22.9)$(42.6)
Schedule of Assumptions Used
Assumptions used to determine the actuarial present value of benefit obligations were:
Years ended June 30,20252024
Discount rate5.35 %5.40 %
Interest crediting rate3.85 %3.70 %
Increase in compensation levelsN/AN/A
Schedule of Defined Benefit Plan Assumptions Used Calculating Net Pension (Income)/Expense
Assumptions used to determine the net pension (income)/expense generally were:
Years ended June 30,202520242023
Discount rate5.40 %5.10 %4.60 %
Interest crediting rate3.70 %3.50 %3.25 %
Expected long-term rate of return on assets6.00 %6.00 %6.75 %
Increase in compensation levelsN/AN/AN/A
Schedule of Allocation of Plan Assets
The Company's pension plans' asset allocations at June 30, 2025 and 2024 by asset category were as follows:
20252024
Cash and cash equivalents5 %— %
Fixed income securities69 %63 %
U.S. equity securities10 %12 %
International equity securities5 %10 %
Global equity securities11 %15 %
100 %100 %
Schedule of Defined Benefit Plan Target Allocation Percentage
The target asset allocation ranges for the U.S. plan are generally as follows:
U.S. fixed income securities
60% - 70%
U.S. equity securities
7% - 17%
International equity securities
5% - 15%
Global equity securities
8% - 18%
Schedule of Fair Value, Assets Measured on Recurring Basis
The following table presents the investments of the pension plans measured at fair value at June 30, 2025:
Level 1Level 2Level 3Total
Commingled trusts$— $501.6 $— $501.6 
Government securities— 532.4 — 532.4 
Corporate and municipal bonds— 783.6 — 783.6 
Mortgage-backed security bonds— 15.7 — 15.7 
Total pension asset investments$— $1,833.3 $— $1,833.3 
The following table presents the investments of the pension plans measured at fair value at June 30, 2024:
Level 1Level 2Level 3Total
Commingled trusts$— $679.5 $— $679.5 
Government securities— 490.4 — 490.4 
Corporate and municipal bonds— 695.4 — 695.4 
Mortgage-backed security bonds— 3.9 — 3.9 
Total pension asset investments$— $1,869.2 $— $1,869.2 
v3.25.2
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Tax From Continuing Operations Provision for Income Tax Components Disclosure
Earnings before income taxes shown below are based on the geographic location to which such earnings are attributable.
Years ended June 30,202520242023
Earnings before income taxes:
United States$4,825.6 $4,408.0 $4,091.4 
Foreign484.5 464.3 346.2 
$5,310.1 $4,872.3 $4,437.6 
Schedule of Components of Provision (Benefit) for Income Taxes
The provision (benefit) for income taxes consists of the following components:
Years ended June 30,202520242023
Current:
Federal$880.5 $847.4 $840.0 
Foreign136.0 132.8 104.6 
State176.9 177.5 161.1 
Total current1,193.4 1,157.7 1,105.7 
Deferred:
Federal0.7 (18.7)(77.4)
Foreign19.4 (6.6)4.3 
State16.9 (12.1)(7.0)
Total deferred37.0 (37.4)(80.1)
Total provision for income taxes$1,230.4 $1,120.3 $1,025.6 
Schedule of Reconciliation Between Federal Statutory Tax and Effective Tax Rate
A reconciliation between the Company's effective tax rate and the U.S. federal statutory rate is as follows:
Years ended June 30,2025%2024%2023%
Provision for taxes at U.S. statutory rate$1,115.1 21.0 $1,023.2 21.0 $931.9 21.0 
Increase/(decrease) in provision from:
State taxes, net of federal tax benefit128.0 2.4 120.6 2.5 111.2 2.5 
Foreign rate differential39.0 0.7 41.0 0.9 33.1 0.7 
Excess tax benefit - Stock-based compensation(24.3)(0.4)(17.1)(0.4)(19.0)(0.4)
Other(27.4)(0.5)(47.4)(1.0)(31.6)(0.7)
$1,230.4 23.2 $1,120.3 23.0 $1,025.6 23.1 
Summary of Deferred Tax Assets and Liabilities
The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows:
Years ended June 30,20252024
Deferred tax assets:
Accrued expenses not currently deductible$256.7 $237.4 
Stock-based compensation expense56.0 51.3 
Foreign tax credits8.8 12.0 
Fixed and intangible assets 216.8 194.9 
Net operating losses59.3 41.7 
Disallowed business interest expense carryforward30.9 — 
Unrealized investment losses, net98.4 351.4 
Other28.5 39.1 
755.4 927.8 
Less: valuation allowances(23.8)(11.1)
Deferred tax assets, net$731.6 $916.7 
Deferred tax liabilities:
Deferred contract costs$654.0 $620.7 
Prepaid expenses103.1 88.8 
Prepaid retirement benefits53.1 40.3 
Tax on unrepatriated earnings12.0 10.2 
Other16.9 20.8 
Deferred tax liabilities839.1 780.8 
Net deferred tax (liabilities)/assets$(107.5)$135.9 
Summary of Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
202520242023
Unrecognized tax benefits at beginning of the year$126.9 $116.9 $98.1 
Additions for tax positions29.5 17.2 11.3 
Additions for tax positions of prior periods26.7 17.8 16.8 
Reductions for tax positions of prior periods(1.8)(12.8)(5.0)
Settlement with tax authorities(0.1)(9.0)(1.8)
Expiration of the statute of limitations(17.5)(2.9)(1.0)
Impact of foreign exchange rate fluctuations(0.7)(0.3)(1.5)
Unrecognized tax benefit at end of year$163.0 $126.9 $116.9 
Summary of Income Tax Examinations Examinations in progress in which the Company has significant business operations are as follows:
Taxing JurisdictionFiscal Years under Examination
U.S. (IRS)
2023 - 2025
Arizona
2016 - 2020
Massachusetts
2016 - 2022
Michigan
2020 - 2023
New Jersey
2020 - 2022
New York City
2016 - 2021
New York State
2019 - 2021
India
2014 - 2022
v3.25.2
Reclassification out of Accumulated Other Comprehensive Income ("AOCI") (Tables)
 12 Months Ended
Jun. 30, 2025
Reclassification out of Accumulated Other Comprehensive Income [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Income (“AOCI”) Changes in AOCI by component are as follows:
Currency Translation AdjustmentNet Gains/(Losses) on Available-for-sale SecuritiesCash Flow Hedging ActivitiesPension LiabilityAccumulated Other Comprehensive Income/(Loss)
Balance at June 30, 2022$(354.2)$(1,330.0)$(26.6)$(282.9)$(1,993.7)
Other comprehensive income/(loss) before reclassification adjustments13.4 (500.3)— 60.3 (426.6)
Tax effect— 113.3 — (13.3)100.0 
Reclassification adjustments to net earnings— 14.7 (A)4.4 (C)(0.4)(B)18.7 
Tax effect— (3.3)(1.1)0.2 (4.2)
Balance at June 30, 2023$(340.8)$(1,705.6)$(23.3)$(236.1)$(2,305.8)
Other comprehensive (loss)/income before reclassification adjustments(38.0)685.2 — 5.6 652.8 
Tax effect— (162.2)— (1.1)(163.3)
Reclassification adjustments to net earnings— 5.9 (A)4.4 (C)0.1 (B)10.4 
Tax effect— (1.3)(1.1)— (2.4)
Balance at June 30, 2024$(378.8)$(1,178.0)$(20.0)$(231.5)$(1,808.3)
Other comprehensive income/(loss) before reclassification adjustments89.0 1,088.4 (15.6)8.5 1,170.3 
Tax effect— (250.7)3.8 (2.1)(249.0)
Reclassification adjustments to net earnings— 1.7 (A)5.4 (C)(2.4)(B)4.7 
Tax effect— (0.3)(1.3)0.5 (1.1)
Balance at June 30, 2025$(289.8)$(338.9)$(27.7)$(227.0)$(883.4)

(A) Reclassification adjustments out of AOCI are included within Other (income)/expense, net, on the Statements of Consolidated Earnings.

(B) Reclassification adjustments out of AOCI are included in Net pension (income)/expense (see Note 11).

(C) Reclassification adjustments out of AOCI are included in Interest expense on the Statements of Consolidated Earnings (see Note 10).
v3.25.2
Financial Data By Segment And Geographic Area (Tables)
 12 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables present the Company's revenues, significant segment expenses, and earnings before income taxes by reportable segment:

Year ended June 30, 2025Employer ServicesPEO ServicesTotal
Revenues from external customers$12,692.2 $6,679.6 $19,371.8 
Interest on funds held for clients1,178.3 10.8 1,189.1 
Intercompany revenues 12.6 — 12.6 
Total segment revenues13,883.1 6,690.4 20,573.5 
Reconciliation of revenues:
Intercompany eliminations(12.6)
Total consolidated revenues$20,560.9 
Less segment expenses: (a)
Selling and marketing2,177.1 362.8 
Zero-margin benefits pass-through costs— 4,289.0 
Worker's compensation coverage and state unemployment taxes— 681.3 
Other segment expenses (b)6,697.5 406.8 
Total segment earnings before income taxes5,008.5 950.5 5,959.0 
Reconciliation of earnings before income taxes:
Other (c)(648.9)
Total consolidated earnings before income taxes$5,310.1 

Year ended June 30, 2024Employer ServicesPEO ServicesTotal
Revenues from external customers$11,953.6 $6,224.3 $18,177.9 
Interest on funds held for clients1,015.4 9.3 1,024.7 
Intercompany revenues 11.8 — 11.8 
Total segment revenues12,980.8 6,233.6 19,214.4 
Reconciliation of revenues:
Intercompany eliminations(11.8)
Total consolidated revenues$19,202.6 
Less segment expenses: (a)
Selling and marketing2,025.0 330.5 
Zero-margin benefits pass-through costs— 3,975.9 
Worker's compensation coverage and state unemployment taxes— 613.4 
Other segment expenses (b)6,400.3 392.3 
Total segment earnings before income taxes4,555.5 921.5 5,477.0 
Reconciliation of earnings before income taxes:
Other (c)(604.7)
Total consolidated earnings before income taxes$4,872.3 
Year ended June 30, 2023Employer ServicesPEO ServicesTotal
Revenues from external customers$11,222.0 $5,976.8 $17,198.8 
Interest on funds held for clients806.0 7.4 813.4 
Intercompany revenues 14.6 — 14.6 
Total segment revenues12,042.6 5,984.2 18,026.8 
Reconciliation of revenues:
Intercompany eliminations(14.6)
Total consolidated revenues$18,012.2 
Less segment expenses: (a)
Selling and marketing1,885.3 307.4 
Zero-margin benefits pass-through costs— 3,800.9 
Worker's compensation coverage and state unemployment taxes— 606.3 
Other segment expenses (b)6,183.1 292.3 
Total segment earnings before income taxes3,974.2 977.3 4,951.5 
Reconciliation of earnings before income taxes:
Other (c)(513.9)
Total consolidated earnings before income taxes$4,437.6 
(a) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Intercompany expenses are included in the amounts shown.
(b) Other segment expenses for both reportable segments include operating, research and development, depreciation and amortization, and other general and administrative expenses.
(c) Other represents certain corporate overhead charges and expenses that have not been allocated to the reportable segments, including corporate functions, legal settlements, severance costs, non-recurring gains and losses, the elimination of intercompany transactions, and interest income and expense.

The following table presents the Company's depreciation and amortization included in earnings before income taxes for each reportable segment:

Years ended June 30,202520242023
Employer Services$512.4 $486.6 $467.6 
PEO Services6.7 6.8 7.5 
Other63.3 68.5 74.2 
Total depreciation and amortization$582.4 $561.9 $549.3 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
The following table presents the Company's revenues and assets by geographic area:
United StatesEuropeCanadaOtherTotal
Year ended June 30, 2025
Revenues$18,179.2 $1,533.5 $489.3 $358.9 $20,560.9 
Assets$46,763.0 $3,025.5 $2,750.7 $830.1 $53,369.3 
Year ended June 30, 2024
Revenues$16,934.2 $1,451.4 $473.7 $343.3 $19,202.6 
Assets$47,989.9 $2,800.8 $2,796.6 $775.4 $54,362.7 
Year ended June 30, 2023
Revenues$15,950.9 $1,309.2 $427.5 $324.6 $18,012.2 
Assets$44,565.9 $2,602.2 $3,022.0 $780.9 $50,971.0 
v3.25.2
Summary of Significant Accounting Policies - Narrative (Details)
shares in Millions
 1 Months Ended 12 Months Ended
Jul. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
segment
note
shares
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2023
USD ($)
shares
Jun. 30, 2022
USD ($)
Summary of Significant Accounting Policies [Line Items]          
Number of reportable segments | segment   2      
Percent of level two investment pricing inputs provided by independent pricing service (over)   99.00%      
Number of notes issued | note   4      
Debt instrument, face amount   $ 4,000,000,000.0      
Options excluded from the calculation of diluted earnings per share because their exercise prices exceeded the average market price (in shares) | shares   0.0 0.0 0.2  
Weighted average remaining useful life   5 years      
Unrecognized tax benefits   $ 163,000,000.0 $ 126,900,000 $ 116,900,000 $ 98,100,000
Threshold of coverage for all losses per occurrence covered by reinsurance arrangement, next fiscal year   1,000,000      
Concentration risk, credit risk, financial instruments, off-balance sheet risk   351,000,000      
Letters of credit outstanding, amount   0 $ 0    
Payments for reinsurance   276,000,000      
Threshold for reinsurance per occurrence (up to)   $ 1,000,000      
Subsequent Event          
Summary of Significant Accounting Policies [Line Items]          
Payments for reinsurance $ 278,000,000        
Internal Use Software          
Summary of Significant Accounting Policies [Line Items]          
Weighted average remaining useful life   10 years      
Minimum          
Summary of Significant Accounting Policies [Line Items]          
Revenue, service agreements, term   30 days      
Revenue, remaining performance obligation, expected timing of satisfaction   5 years      
Collection period   30 days      
Revenue, incremental costs of obtaining a contract, period of recognition   3 years      
Revenue, capitalized costs fulfillment period   3 years      
Debt instrument, term   7 years      
Minimum | Internal Use Software          
Summary of Significant Accounting Policies [Line Items]          
Weighted average remaining useful life   3 years      
Maximum          
Summary of Significant Accounting Policies [Line Items]          
Revenue, service agreements, term   7 years      
Revenue, remaining performance obligation, expected timing of satisfaction   7 years      
Collection period   60 days      
Revenue, incremental costs of obtaining a contract, period of recognition   8 years      
Revenue, capitalized costs fulfillment period   8 years      
Debt instrument, term   10 years      
Maximum | Internal Use Software          
Summary of Significant Accounting Policies [Line Items]          
Weighted average remaining useful life   5 years      
v3.25.2
Summary of Significant Accounting Policies - Estimated Useful Lives (Details)
Jun. 30, 2025
Minimum | Data processing equipment  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
Minimum | Buildings  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 20 years
Minimum | Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 4 years
Maximum | Data processing equipment  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 10 years
Maximum | Buildings  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 40 years
Maximum | Furniture and fixtures  
Property, Plant and Equipment [Line Items]  
Property, plant and equipment, useful life 7 years
v3.25.2
Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Accounting Policies [Abstract]      
Net earnings $ 4,079.7 $ 3,752.0 $ 3,412.0
Basic weighted average shares outstanding (in shares) 407.1 410.6 413.7
Effect of Employee Stock Option Shares (in shares) 0.6 0.7 0.9
Effect of Employee Restricted Stock Shares (in shares) 1.0 0.9 1.1
Diluted weighted average shares outstanding (in shares) 408.7 412.2 415.7
EPS from continuing operations, Basic (in dollars per share) $ 10.02 $ 9.14 $ 8.25
EPS from continuing operations, Diluted (in dollars per share) $ 9.98 $ 9.10 $ 8.21
v3.25.2
Revenue - Narrative (Details)
 12 Months Ended
Jun. 30, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Deferred costs, impairment loss $ 0
v3.25.2
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Disaggregation of Revenue [Line Items]      
Revenues $ 20,560.9 $ 19,202.6 $ 18,012.2
Other      
Disaggregation of Revenue [Line Items]      
Revenues (12.6) (11.8) (14.6)
Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 13,883.1 12,980.8 12,042.6
PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 6,690.4 6,233.6 5,984.2
HCM      
Disaggregation of Revenue [Line Items]      
Revenues 8,674.5 8,155.7 7,716.1
HCM | Other      
Disaggregation of Revenue [Line Items]      
Revenues (10.0) (8.5) (8.6)
HCM | Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 8,684.5 8,164.2 7,724.7
HCM | PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
HRO, excluding PEO zero-margin benefits pass-throughs      
Disaggregation of Revenue [Line Items]      
Revenues 3,782.3 3,544.2 3,386.0
HRO, excluding PEO zero-margin benefits pass-throughs | Other      
Disaggregation of Revenue [Line Items]      
Revenues (2.6) (3.3) (6.0)
HRO, excluding PEO zero-margin benefits pass-throughs | Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 1,394.3 1,299.1 1,216.1
HRO, excluding PEO zero-margin benefits pass-throughs | PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 2,390.6 2,248.4 2,175.9
PEO zero-margin benefits pass-throughs      
Disaggregation of Revenue [Line Items]      
Revenues 4,289.0 3,975.9 3,800.9
PEO zero-margin benefits pass-throughs | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
PEO zero-margin benefits pass-throughs | Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues   0.0 0.0
PEO zero-margin benefits pass-throughs | PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues   3,975.9 3,800.9
Global      
Disaggregation of Revenue [Line Items]      
Revenues 2,626.0 2,502.1 2,295.8
Global | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
Global | Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 2,626.0 2,502.1 2,295.8
Global | PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
Interest on funds held for clients      
Disaggregation of Revenue [Line Items]      
Revenues 1,189.1 1,024.7 813.4
Interest on funds held for clients | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 1,189.1 1,024.7 813.4
Interest on funds held for clients | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0.0 0.0 0.0
Interest on funds held for clients | Employer Services | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues 1,178.3 1,015.4 806.0
Interest on funds held for clients | PEO | Operating Segments      
Disaggregation of Revenue [Line Items]      
Revenues $ 10.8 $ 9.3 $ 7.4
v3.25.2
Revenue- Change in Deferred Revenue (Details)
$ in Millions
 12 Months Ended
Jun. 30, 2025
USD ($)
Contract Liability  
Contract liability, July 1, 2024 $ 491.6
Recognition of revenue included in beginning of year contract liability (134.1)
Contract liability, net of revenue recognized on contracts during the year 140.4
Currency translation adjustments 22.3
Contract liability, June 30, 2025 $ 520.2
v3.25.2
Revenue - Summary of Deferred Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Capitalized Contract Cost [Line Items]      
Deferred contract costs $ 3,154.1 $ 2,965.0  
Amortization of deferred contract costs 1,145.3 1,067.6 $ 992.9
Deferred costs to obtain a contract      
Capitalized Contract Cost [Line Items]      
Deferred contract costs 1,438.6 1,353.0  
Deferred costs to fulfill a contract      
Capitalized Contract Cost [Line Items]      
Deferred contract costs $ 1,715.5 $ 1,612.0  
v3.25.2
Acquisition - Schedule of Purchase Price, Net of Cash Acquired (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Oct. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Business Combination [Line Items]        
Cash paid for acquisition of business, net of cash acquired   $ 1,165.1 $ 33.6 $ 32.4
WorkForce Software        
Business Combination [Line Items]        
Purchase price $ 1,170.8      
Less: cash acquired (12.5)      
Cash paid for acquisition of business, net of cash acquired $ 1,158.3      
v3.25.2
Acquisition - Schedule of Preliminary Purchase Price Allocation (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Oct. 31, 2024
Jun. 30, 2024
Jun. 30, 2023
Business Combination [Line Items]        
Goodwill $ 3,273.5   $ 2,353.6 $ 2,339.4
WorkForce Software        
Business Combination [Line Items]        
Cash   $ 12.5    
Accounts receivable, net of allowance for doubtful accounts   20.0    
Identifiable intangible assets   292.0    
Goodwill   880.4    
Deferred income taxes, net of valuation allowance   51.2    
All other assets   14.8    
Total assets acquired   1,270.9    
Deferred revenue   39.6    
All other liabilities   60.5    
Total liabilities assumed   100.1    
Total net assets acquired   $ 1,170.8    
v3.25.2
Acquisition - Schedule of Estimated Fair Value of Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Oct. 31, 2024
Business Combination [Line Items]    
Estimated Useful Life (in years) 5 years  
WorkForce Software    
Business Combination [Line Items]    
Estimated Fair Value   $ 292.0
WorkForce Software | Technology    
Business Combination [Line Items]    
Estimated Fair Value   $ 115.0
Estimated Useful Life (in years)   7 years
WorkForce Software | Customer/Partner relationships    
Business Combination [Line Items]    
Estimated Fair Value   $ 170.0
Estimated Useful Life (in years)   8 years
WorkForce Software | Tradename    
Business Combination [Line Items]    
Estimated Fair Value   $ 7.0
Estimated Useful Life (in years)   4 years
v3.25.2
Acquisitions - Narrative (Details)
Oct. 31, 2024
USD ($)
WorkForce Software  
Business Combination [Line Items]  
Expected tax deductible amount $ 0
v3.25.2
Other (Income)/Expense, Net - Summary of Other Income, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Other Income, Net [Abstract]      
Interest income on corporate funds $ (319.5) $ (241.3) $ (149.5)
Realized losses on available-for-sale securities, net 1.7 5.9 14.7
Impairment of assets 0.0 0.0 2.1
Gain on sale of assets (5.0) (17.1) 0.0
Non-service components of pension income, net (31.3) (34.2) (50.8)
Other income, net $ (354.1) $ (286.7) $ (183.5)
v3.25.2
Other (Income)/Expense, Net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Other Income, Net [Abstract]      
Corporate funds average investment balance $ 9,200.0 $ 7,400.0  
Average interest rates related to corporate funds 3.50% 3.30%  
Gain from sale of buildings $ 5.0 $ 17.1 $ 0.0
v3.25.2
Corporate Investments and Funds Held For Clients - Corporate Investments and Funds Held for Clients (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Debt Securities, Available-for-sale [Line Items]      
Money market securities, cash and other cash equivalents - amortized cost $ 3,347.8 $ 2,913.4 $ 2,083.5
Amortized Cost 34,203.4 32,723.3  
Gross Unrealized  Gains 256.6 30.9  
Gross Unrealized Losses (682.3) (1,546.7)  
Fair market value 33,777.7 31,207.5  
Total corporate investments and funds held for clients - amortized cost 39,258.0 42,809.3  
Total corporate investments and funds held for clients - gross unrealized gains 256.6 30.9  
Total corporate investments and funds held for clients - gross unrealized losses (682.3) (1,546.7)  
Total corporate investments and funds held for clients - fair market value 38,832.3 41,293.5  
Corporate bonds      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 17,515.2 16,833.3  
Gross Unrealized  Gains 108.7 11.5  
Gross Unrealized Losses (420.2) (944.8)  
Fair market value 17,203.7 15,900.0  
U.S. Treasury securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 8,416.8 7,701.2  
Gross Unrealized  Gains 85.6 9.0  
Gross Unrealized Losses (43.7) (164.5)  
Fair market value 8,458.7 7,545.7  
Canadian government obligations and Canadian government agency obligations      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 1,972.0 2,130.7  
Gross Unrealized  Gains 16.4 1.7  
Gross Unrealized Losses (32.4) (86.6)  
Fair market value 1,956.0 2,045.8  
Asset-backed securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 1,837.8 1,394.9  
Gross Unrealized  Gains 22.6 3.9  
Gross Unrealized Losses (15.5) (43.0)  
Fair market value 1,844.9 1,355.8  
U.S. government agency securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 1,328.5 1,645.0  
Gross Unrealized  Gains 2.3 0.5  
Gross Unrealized Losses (80.0) (140.6)  
Fair market value 1,250.8 1,504.9  
Canadian provincial bonds      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 1,155.8 1,116.3  
Gross Unrealized  Gains 13.8 2.3  
Gross Unrealized Losses (27.7) (56.2)  
Fair market value 1,141.9 1,062.4  
Commercial mortgage-backed securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost   535.9  
Gross Unrealized  Gains   0.0  
Gross Unrealized Losses   (35.1)  
Fair market value 438.6 500.8  
Other securities      
Debt Securities, Available-for-sale [Line Items]      
Amortized Cost 1,977.3 1,366.0  
Gross Unrealized  Gains 7.2 2.0  
Gross Unrealized Losses (62.8) (75.9)  
Fair market value 1,921.7 1,292.1  
Corporate Investments      
Debt Securities, Available-for-sale [Line Items]      
Fair market value 4,498.8 384.0  
Funds held for clients      
Debt Securities, Available-for-sale [Line Items]      
Fair market value 29,278.9 30,823.5  
Money market securities, cash and other cash equivalents      
Debt Securities, Available-for-sale [Line Items]      
Money market securities, cash and other cash equivalents - amortized cost 5,054.6 10,086.0  
Money market securities and other cash equivalents - fair market value $ 5,054.6 $ 10,086.0  
v3.25.2
Corporate Investments and Funds Held For Clients - Narrative (Details) - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale $ 33,777,700,000 $ 31,207,500,000
Client fund obligation repayment period 1 year  
Client funds obligations $ 31,343,300,000 39,503,900,000
Funds held for clients held-in grantor trust $ 27,355,200,000  
Client funds investments with original maturities 90 days  
Asset Backed Auto Loan Receivables    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale $ 824,800,000  
Fixed Rate Credit Card    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 549,300,000  
Asset-Backed Securities, Device Payment Plan Agreement Receivables    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 254,800,000  
Federal Farm Credit Banks    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 922,100,000  
Federal Home Loan Banks    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 267,200,000  
Municipal Bonds    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 536,000,000.0  
Debt Security, Corporate, Non-US    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 550,800,000  
Commercial Mortgage-Backed Securities    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 438,600,000 $ 500,800,000
Supranational Bonds    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 230,300,000  
Fair Value, Inputs, Level 1    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale 0  
Fair Value, Inputs, Level 3    
Debt Securities, Available-for-sale [Line Items]    
Debt securities, available-for-sale $ 0  
v3.25.2
Corporate Investments and Funds Held For Clients - Available-for-Sale Securities That Have Been in an Unrealized Loss Position (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses $ (10.2) $ (66.8)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (672.1) (1,479.9)
Total, Gross Unrealized Losses (682.3) (1,546.7)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 1,963.9 5,560.0
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 16,184.9 22,249.9
Total, Fair Market Value 18,148.8 27,809.9
Corporate bonds    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (5.4) (25.8)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (414.8) (919.0)
Total, Gross Unrealized Losses (420.2) (944.8)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 690.4 2,173.6
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 10,218.8 12,413.4
Total, Fair Market Value 10,909.2 14,587.0
U.S. Treasury securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (0.8) (23.1)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (42.9) (141.4)
Total, Gross Unrealized Losses (43.7) (164.5)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 732.2 2,186.2
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 1,801.7 4,076.9
Total, Fair Market Value 2,533.9 6,263.1
Canadian government obligations and Canadian government agency obligations    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (1.4) (0.9)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (31.0) (85.7)
Total, Gross Unrealized Losses (32.4) (86.6)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 219.2 304.6
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 870.2 1,591.6
Total, Fair Market Value 1,089.4 1,896.2
U.S. government agency securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (0.1) (0.7)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (79.9) (139.9)
Total, Gross Unrealized Losses (80.0) (140.6)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 8.0 51.5
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 1,093.8 1,428.2
Total, Fair Market Value 1,101.8 1,479.7
Asset-backed securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (0.2) (2.3)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (15.3) (40.7)
Total, Gross Unrealized Losses (15.5) (43.0)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 101.4 351.4
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 481.4 668.0
Total, Fair Market Value 582.8 1,019.4
Canadian provincial bonds    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (0.8) (1.3)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (26.9) (54.9)
Total, Gross Unrealized Losses (27.7) (56.2)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 44.3 193.0
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 588.8 717.4
Total, Fair Market Value 633.1 910.4
Commercial mortgage-backed securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses   (0.5)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses   (34.6)
Total, Gross Unrealized Losses   (35.1)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value   11.2
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value   489.6
Total, Fair Market Value   500.8
Other securities    
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Gross Unrealized Losses (1.5) (12.2)
Securities in Unrealized Loss Position Greater Than 12 Months, Gross Unrealized Losses (61.3) (63.7)
Total, Gross Unrealized Losses (62.8) (75.9)
Debt Securities, Available-for-Sale, Unrealized Loss Position [Abstract]    
Securities in Unrealized Loss Position Less Than 12 Months, Fair Market Value 168.4 288.5
Securities in Unrealized Loss Position Greater Than 12 Months, Fair Market Value 1,130.2 864.8
Total, Fair Market Value $ 1,298.6 $ 1,153.3
v3.25.2
Corporate Investments And Funds Held For Clients - Classification of Corporate Investments on the Consolidated Balance Sheet (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Corporate Investments And Funds Held For Clients [Abstract]      
Cash and cash equivalents $ 3,347.8 $ 2,913.4 $ 2,083.5
Short-term marketable securities 4,498.8 384.0  
Total corporate investments $ 7,846.6 $ 3,297.4  
v3.25.2
Corporate Investments And Funds Held For Clients - Schedule of Investment of Funds Held for Clients (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Marketable Securities [Line Items]      
Restricted cash and cash equivalents held to satisfy client funds obligations [1] $ 1,706.8 $ 7,172.6 $ 6,688.0
Total funds held for clients 30,985.7 37,996.1  
Current      
Marketable Securities [Line Items]      
Restricted short-term and long term marketable securities held to satisfy client funds obligations 3,155.7 5,538.1  
Long-term      
Marketable Securities [Line Items]      
Restricted short-term and long term marketable securities held to satisfy client funds obligations $ 26,123.2 $ 25,285.4  
[1] See Note 5 for a reconciliation of restricted cash and restricted cash equivalents in funds held for clients on the Consolidated Balance Sheets.
v3.25.2
Corporate Investments and Funds Held For Clients - Expected Maturities of Available-for-Sale Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Corporate Investments And Funds Held For Clients [Abstract]    
One year or less $ 7,654.5  
One year to two years 5,888.4  
Two years to three years 4,322.9  
Three years to four years 5,106.0  
After four years 10,805.9  
Total available-for-sale securities $ 33,777.7 $ 31,207.5
v3.25.2
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 2,577.4 $ 2,503.3
Less: accumulated depreciation (1,922.0) (1,817.7)
Property, plant and equipment, net 655.4 685.6
Land and buildings    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 637.2 648.1
Data processing equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross 1,264.5 1,185.2
Furniture, leaseholds and other    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, gross $ 675.7 $ 670.0
v3.25.2
Property, Plant and Equipment - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Property, Plant and Equipment [Line Items]      
Depreciation expense $ 201.8 $ 190.3 $ 176.5
Property, Plant and Equipment      
Property, Plant and Equipment [Line Items]      
Assets held-for-sale, long lived, fair value $ 0.0 $ 5.0  
v3.25.2
Leases - Narrative (Details)
Jun. 30, 2025
Jun. 30, 2024
Leases [Abstract]    
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities
Remaining lease term 11 years  
v3.25.2
Leases - Lease Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Leases [Abstract]      
Operating lease cost $ 111.8 $ 125.0 $ 135.2
Short-term lease cost 1.2 1.4 2.0
Variable lease cost 20.3 18.3 16.1
Total operating lease cost $ 133.3 $ 144.7 $ 153.3
v3.25.2
Leases - Right of Use Assets and Operating Lease Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Leases [Abstract]      
Cash paid for operating lease liabilities $ 127.5 $ 125.5 $ 129.2
Operating lease ROU assets obtained in exchange for new operating lease liabilities $ 100.7 $ 97.4 $ 90.5
Weighted-average remaining lease term (in years) 6 years 5 years  
Weighted-average discount rate 3.60% 3.30%  
Current operating lease liability $ 100.8 $ 92.2  
v3.25.2
Leases - Operating Lease Maturities (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Leases [Abstract]  
Twelve months ending June 30, 2026 $ 107.8
Twelve months ending June 30, 2027 98.6
Twelve months ending June 30, 2028 76.9
Twelve months ending June 30, 2029 53.1
Twelve months ending June 30, 2030 42.4
Thereafter 90.4
Total undiscounted lease obligations 469.2
Less: Imputed interest (47.2)
Net lease obligations $ 422.0
v3.25.2
Goodwill And Intangible Assets, Net - Changes in Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Goodwill [Roll Forward]    
Beginning balance $ 2,353.6 $ 2,339.4
Additions and other adjustments 887.0 24.4
Currency translation adjustments 32.9 (10.2)
Ending balance 3,273.5 2,353.6
Employer Services    
Goodwill [Roll Forward]    
Beginning balance 2,348.8 2,334.6
Additions and other adjustments 887.0 24.4
Currency translation adjustments 32.9 (10.2)
Ending balance 3,268.7 2,348.8
PEO Services    
Goodwill [Roll Forward]    
Beginning balance 4.8 4.8
Additions and other adjustments 0.0 0.0
Currency translation adjustments 0.0 0.0
Ending balance $ 4.8 $ 4.8
v3.25.2
Goodwill And Intangible Assets, Net - Components of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Finite-Lived Intangible Assets [Line Items]    
Total - gross $ 5,782.8 $ 5,227.3
Total - accumulated amortization (4,179.8) (3,891.3)
Intangible assets, net 1,603.0 1,336.0
Software and software licenses    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 4,103.6 3,803.7
Total - accumulated amortization (2,830.3) (2,642.6)
Customer contracts and lists    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 1,429.4 1,181.6
Total - accumulated amortization (1,105.6) (1,007.6)
Other intangibles    
Finite-Lived Intangible Assets [Line Items]    
Total - gross 249.8 242.0
Total - accumulated amortization $ (243.9) $ (241.1)
v3.25.2
Goodwill And Intangible Assets, Net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]      
Weighted average remaining useful life 5 years    
Amortization of intangible assets $ 380.6 $ 371.6 $ 372.8
Software and software licenses      
Finite-Lived Intangible Assets [Line Items]      
Weighted average remaining useful life 5 years    
Customer contracts and lists      
Finite-Lived Intangible Assets [Line Items]      
Weighted average remaining useful life 4 years    
Other intangibles      
Finite-Lived Intangible Assets [Line Items]      
Weighted average remaining useful life 3 years    
v3.25.2
Goodwill And Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Twelve months ending June 30, 2026 $ 575.5
Twelve months ending June 30, 2027 251.0
Twelve months ending June 30, 2028 208.2
Twelve months ending June 30, 2029 176.6
Twelve months ending June 30, 2030 $ 133.4
v3.25.2
Short-Term Financing - Narrative (Details) - USD ($)
 12 Months Ended
Jun. 30, 2025
May 31, 2025
Jun. 30, 2024
Short-term Debt [Line Items]      
Line of credit facility, fair value of amount outstanding $ 0   $ 0
Commercial paper outstanding $ 4,769,500,000   0
Maturities of short-term funding agreements (up to) 5 days    
Obligations under reverse repurchase agreements [1] $ 38,400,000   $ 385,400,000
Aggregate committed obligations under reverse repurchase agreements 7,500,000,000    
364-Day Credit Agreement      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities $ 4,600,000,000    
Term of credit 364 days    
Extension option term 1 year    
Credit Facility Expiring In June 2029      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities $ 3,500,000,000    
Term of credit 5 years    
Line of credit facility potentially available increase in maximum borrowing capacity $ 500,000,000    
Credit Facility Expiring In June 2030      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities $ 2,500,000,000    
Term of credit 5 years    
Line of credit facility potentially available increase in maximum borrowing capacity $ 500,000,000    
Commercial Paper      
Short-term Debt [Line Items]      
Maximum borrowing capacity under credit facilities $ 10,600,000,000 $ 10,300,000,000  
Debt instrument, maturity period 364 days    
[1] As of June 30, 2025, $38.4 million of short-term marketable securities have been pledged as collateral under the Company's reverse repurchase agreements. As of June 30, 2024, $384.0 million of short-term marketable securities and $1.4 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 9).
v3.25.2
Short-Term Financing - Commercial Paper and Reverse Repurchase Agreements (Details) - USD ($)
$ in Billions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Commercial Paper    
Short-term Debt [Line Items]    
Short-term debt, average outstanding amount $ 4.1 $ 3.5
Weighted average interest rates 4.80% 5.30%
Weighted average maturity (approximately in days) 2 days 2 days
Reverse Repurchase Agreements    
Short-term Debt [Line Items]    
Short-term debt, average outstanding amount $ 2.9 $ 1.8
Weighted average interest rates 4.80% 5.50%
v3.25.2
Debt - Narrative (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2025
USD ($)
note
Sep. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
note
Jun. 30, 2024
USD ($)
Jun. 30, 2023
USD ($)
Debt Instrument [Line Items]          
Number of fixed rate notes issued | note 4   4    
Debt instrument, face amount $ 4,000.0   $ 4,000.0    
Notional amount of derivatives terminated 1,000.0 $ 1,000.0      
Unamortized loss on cash flow hedges 3.0 12.5 15.6 $ 0.0 $ 0.0
Long-term debt, fair value 3,801.5   $ 3,801.5    
Derivative Instrument, Termination One          
Debt Instrument [Line Items]          
Notional amount of derivatives terminated 300.0 400.0      
Derivative Instrument, Termination Two          
Debt Instrument [Line Items]          
Notional amount of derivatives terminated 100.0 600.0      
Derivative Instrument, Termination Three          
Debt Instrument [Line Items]          
Notional amount of derivatives terminated $ 600.0        
Fixed-rate 4.450% notes due September 9, 2034 | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, face amount   $ 1,000.0      
Interest rate, stated percentage 4.45% 4.45% 4.45%    
Fixed-rate 4.750% notes due May 8, 2032 | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, face amount $ 1,000.0   $ 1,000.0    
Interest rate, stated percentage 4.75%   4.75%    
Fixed-rate 3.375% notes due September 15, 2025 | Senior Notes          
Debt Instrument [Line Items]          
Interest rate, stated percentage 3.375%   3.375%    
Redeemed amount $ 1,000.0   $ 1,000.0    
Minimum          
Debt Instrument [Line Items]          
Debt instrument, term     7 years    
Maximum          
Debt Instrument [Line Items]          
Debt instrument, term     10 years    
v3.25.2
Debt - Schedule of Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Sep. 30, 2024
Jun. 30, 2024
Debt Instrument [Line Items]      
Notes payable $ 4,002.9   $ 3,004.1
Less: current portion (1.0)   (1.1)
Less: unamortized discount and debt issuance costs (27.2)   (11.7)
Total long-term debt $ 3,974.7   2,991.3
Fixed-rate 3.375% notes due September 15, 2025 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage 3.375%    
Effective Interest Rate 3.47%    
Notes payable $ 0.0   1,000.0
Fixed-rate 1.700% notes due May 15, 2028 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage 1.70%    
Effective Interest Rate 1.85%    
Notes payable $ 1,000.0   1,000.0
Fixed-rate 1.250% notes due September 1, 2030 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage 1.25%    
Effective Interest Rate 1.83%    
Notes payable $ 1,000.0   1,000.0
Fixed-rate 4.750% notes due May 8, 2032 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage 4.75%    
Effective Interest Rate 4.95%    
Notes payable $ 1,000.0   0.0
Fixed-rate 4.450% notes due September 9, 2034 | Senior Notes      
Debt Instrument [Line Items]      
Interest rate, stated percentage 4.45% 4.45%  
Effective Interest Rate 4.75%    
Notes payable $ 1,000.0   0.0
Other      
Debt Instrument [Line Items]      
Notes payable $ 2.9   $ 4.1
v3.25.2
Employee Benefit Plans - Narrative (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Treasury stock, shares repurchased (in shares) 4.4   5.1   4.9  
Cash payments for Restricted Stock Units $ 24.0   $ 24.1   $ 23.5  
Aggregate intrinsic value of stock options outstanding and exercisable 149.3          
Options, vested and expected to vest, exercisable, aggregate intrinsic value $ 133.7          
Weighted average remaining life of stock options outstanding and exercisable 4 years          
Options, exercisable, weighted average remaining contractual term 4 years          
Aggregate intrinsic value for options exercised $ 134.0   63.2   80.6  
Defined benefit plan, accumulated benefit obligation 1,694.9   1,688.5      
Accumulated other comprehensive income net gains (losses), after tax 280.2          
Accumulated other comprehensive income net prior service cost (credit), after tax $ 2.2          
Minimum interest crediting rate 3.25%          
Plan assets $ 1,938.2   1,879.6   $ 1,854.4  
Employer contributions 20.1   13.4      
Expected future employer contributions, next fiscal year 9.7          
Expected future plan benefit payment - 2026 142.4          
Expected future plan benefit payment - 2027 154.7          
Expected future plan benefit payment - 2028 157.4          
Expected future plan benefit payment - 2029 130.0          
Expected future plan benefit payment - 2030 130.3          
Expected future plan benefit payment - 2031 to 2035 $ 681.1          
Defined contribution plan, maximum annual contribution per employee, percent 50.00%          
Highly compensated employee contribution percentage to retirement and saving plan 12.00%          
Defined contribution plan, cost   $ 191.2   $ 184.1   $ 163.6
Cash and cash equivalents            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Plan assets $ 104.9   $ 10.4      
Time-based restricted shares/units            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Vesting term options granted 3 years          
Performance Based Restricted Stock and Units            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Minimum percentage that will ultimately vest under performance-based restricted stock awards based on performance target 0.00%          
Maximum percentage that will ultimately vest under performance-based restricted stock awards based on performance target 200.00%          
Performance Based Restricted Stock and Units | Minimum            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Performance period (years) 1 year          
Performance Based Restricted Stock and Units | Maximum            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Vesting term options granted 38 months          
Performance period (years) 3 years          
Employee Stock            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Shares available for future grants (in shares) 4.6          
Authorized for issuance under the employee stock purchase plan (in shares) 70.0          
Purchase price of common stock as percentage of market value 95.00%          
Non-Vested Stock Options            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Total remaining unrecognized compensation cost $ 0.3          
Weighted-average remaining requisite vesting period 2 months 12 days          
Restricted Stock Units (RSUs)            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Total remaining unrecognized compensation cost $ 206.8          
Weighted-average remaining requisite vesting period 1 year 8 months 12 days          
Non-Vested Restricted Stock            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Total remaining unrecognized compensation cost $ 0.8          
Weighted-average remaining requisite vesting period 2 months 12 days          
Stock-Based Compensation Plan            
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Shares available for future grants (in shares) 19.3          
Authorized for issuance under the employee stock purchase plan (in shares) 26.6          
v3.25.2
Employee Benefit Plans - Components of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]      
Total pretax stock-based compensation expense $ 266.1 $ 243.5 $ 220.4
Income tax benefit 66.0 60.2 54.5
Operating expenses      
Defined Benefit Plan Disclosure [Line Items]      
Total pretax stock-based compensation expense 36.0 30.0 24.6
Selling, general and administrative expenses      
Defined Benefit Plan Disclosure [Line Items]      
Total pretax stock-based compensation expense 193.7 179.5 165.0
Research and development      
Defined Benefit Plan Disclosure [Line Items]      
Total pretax stock-based compensation expense $ 36.4 $ 34.0 $ 30.8
v3.25.2
Employee Benefit Plans - Changes in Stock Options Outstanding (Details)
shares in Thousands
 12 Months Ended
Jun. 30, 2025
$ / shares
shares
Number of Options (in thousands)  
Beginning balance, options outstanding (in shares) | shares 2,042
Options granted (in shares) | shares 0
Options exercised (in shares) | shares (1,004)
Options forfeited/cancelled (in shares) | shares (3)
Ending balance, options outstanding (in shares) | shares 1,035
Weighted Average Price (in dollars)  
Weighted Average Price, beginning of period (in dollars per share) | $ / shares $ 159
Weighted Average Price, granted (in dollars per share) | $ / shares 0
Weighted Average Price, exercised (in dollars per share) | $ / shares 154
Weighted Average Price, forfeited/cancelled (in dollars per share) | $ / shares 207
Weighted Average Price, end of period (in dollars per share) | $ / shares $ 164
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]  
Number of Options, options exercisable (in shares) | shares 882
Weighted Average Price, option exercisable (in dollars per share) | $ / shares $ 157
v3.25.2
Employee Benefit Plans - Time-Based Restricted Shares and Units (Details)
shares in Thousands
 12 Months Ended
Jun. 30, 2025
shares
Time-Based Restricted Stock  
Number of Shares/Units (in thousands)  
Restricted shares/units outstanding, beginning balance 124
Restricted shares/units granted 0
Restricted shares/units vested (124)
Restricted shares/units forfeited 0
Restricted shares/units outstanding, ending balance 0
Time-Based Restricted Stock Units  
Number of Shares/Units (in thousands)  
Restricted shares/units outstanding, beginning balance 1,053
Restricted shares/units granted 618
Restricted shares/units vested (435)
Restricted shares/units forfeited (62)
Restricted shares/units outstanding, ending balance 1,174
v3.25.2
Employee Benefit Plans - Performance Based Restricted Shares and Units (Details)
shares in Thousands
 12 Months Ended
Jun. 30, 2025
shares
Performance-Based Restricted Stock  
Number of Shares/Units (in thousands)  
Restricted shares/units outstanding, beginning balance 88
Restricted shares/units granted 0
Restricted shares/units vested (58)
Restricted shares/units forfeited (3)
Restricted shares/units outstanding, ending balance 27
Performance Based Restricted Stock Unit  
Number of Shares/Units (in thousands)  
Restricted shares/units outstanding, beginning balance 753
Restricted shares/units granted 305
Restricted shares/units vested (293)
Restricted shares/units forfeited (14)
Restricted shares/units outstanding, ending balance 751
v3.25.2
Employee Benefit Plans - Weighted Average Fair Value of Restricted Stock Plan Issuances (Details) - $ / shares
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Performance-based restricted shares/units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average fair value (in dollars per share) $ 283.84 $ 262.56 $ 245.96
Time-based restricted shares/units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average fair value (in dollars per share) $ 277.10 $ 255.29 $ 214.75
v3.25.2
Employee Benefit Plans - Funded Status of Pension Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Change in plan assets:      
Fair value of plan assets at beginning of year $ 1,879.6 $ 1,854.4  
Actual return on plan assets 147.7 106.8  
Employer contributions 20.1 13.4  
Currency translation adjustments 3.7 0.6  
Benefits paid (112.9) (95.6)  
Fair value of plan assets at end of year 1,938.2 1,879.6 $ 1,854.4
Change in benefit obligation:      
Benefit obligation at beginning of year 1,706.2 1,725.8  
Service cost 6.0 5.2 4.8
Interest cost 87.4 84.6 78.2
Actuarial loss/(gain) 26.0 (14.6)  
Currency translation adjustments 5.9 0.8  
Curtailments and special termination benefits (0.3) 0.0  
Benefits paid (112.6) (95.6)  
Projected benefit obligation at end of year 1,718.6 1,706.2 $ 1,725.8
Net amount recognized $ 219.6 $ 173.4  
v3.25.2
Employee Benefit Plans - Balance Sheet Impact (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Retirement Benefits [Abstract]    
Noncurrent assets $ 334.2 $ 286.3
Current liabilities (5.9) (11.1)
Noncurrent liabilities (108.7) (101.8)
Net amount recognized $ 219.6 $ 173.4
v3.25.2
Employee Benefit Plans - Pension Plans with Projected Benefit Obligations in Excess of Plan Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Retirement Benefits [Abstract]    
Projected benefit obligation $ 151.3 $ 143.7
Fair value of plan assets $ 36.7 $ 30.8
v3.25.2
Employee Benefit Plans - Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Retirement Benefits [Abstract]    
Accumulated benefit obligation $ 107.9 $ 108.6
Fair value of plan assets $ 9.2 $ 7.6
v3.25.2
Employee Benefit Plans - Components Of Net Pension (Income)/Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Retirement Benefits [Abstract]      
Service cost – benefits earned during the year $ 6.0 $ 5.2 $ 4.8
Interest cost on projected benefits 87.4 84.6 78.2
Expected return on plan assets (116.0) (115.9) (127.5)
Net amortization and deferral 3.2 2.9 1.9
Special termination benefits, plan curtailments, and settlement charges (0.3) 0.3 0.0
Net pension (income)/expense $ (19.7) $ (22.9) $ (42.6)
v3.25.2
Employee Benefit Plan - Defined Benefit Plan Assumptions Used in Calculating Benefit Obligations (Details)
Jun. 30, 2025
Jun. 30, 2024
Retirement Benefits [Abstract]    
Discount rate 5.35% 5.40%
Interest crediting rate 3.85% 3.70%
v3.25.2
Employee Benefit Plans - Assumptions Used in Calculating Net Pension (Income) Expense (Details)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Retirement Benefits [Abstract]      
Discount rate 5.40% 5.10% 4.60%
Interest crediting rate 3.70% 3.50% 3.25%
Expected long-term rate of return on assets 6.00% 6.00% 6.75%
v3.25.2
Employee Benefit Plans - Pension Plan Asset Allocation by Asset Category (Details)
Jun. 30, 2025
Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 100.00% 100.00%
Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 5.00% 0.00%
Fixed income securities    
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 69.00% 63.00%
U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 10.00% 12.00%
International equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 5.00% 10.00%
Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Pension plans' asset allocations 11.00% 15.00%
v3.25.2
Employee Benefit Plans - Pension Plans' Target Asset Allocation Ranges (Details) - United States
Jun. 30, 2025
Minimum | U.S. fixed income securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 60.00%
Minimum | U.S. equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 7.00%
Minimum | International equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 5.00%
Minimum | Global equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 8.00%
Maximum | U.S. fixed income securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 70.00%
Maximum | U.S. equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 17.00%
Maximum | International equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 15.00%
Maximum | Global equity securities  
Defined Benefit Plan Disclosure [Line Items]  
Defined benefit plan, plan assets, investment policy and strategy, 18.00%
v3.25.2
Employee Benefit Plans - Investments of the Plan Measured at Fair Value (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]      
Plan assets $ 1,938.2 $ 1,879.6 $ 1,854.4
Commingled trusts      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 501.6 679.5  
Commingled trusts | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Commingled trusts | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 501.6 679.5  
Commingled trusts | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Government securities      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 532.4 490.4  
Government securities | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Government securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 532.4 490.4  
Government securities | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Corporate and municipal bonds      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 783.6 695.4  
Corporate and municipal bonds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Corporate and municipal bonds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 783.6 695.4  
Corporate and municipal bonds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Mortgage-backed security bonds      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 15.7 3.9  
Mortgage-backed security bonds | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Mortgage-backed security bonds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 15.7 3.9  
Mortgage-backed security bonds | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Total pension asset investments      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 1,833.3 1,869.2  
Total pension asset investments | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 0.0 0.0  
Total pension asset investments | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets 1,833.3 1,869.2  
Total pension asset investments | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Plan assets $ 0.0 $ 0.0  
v3.25.2
Income Taxes - Components of Provision for Income Taxes From Continuing Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Income Tax Disclosure [Abstract]      
United States $ 4,825.6 $ 4,408.0 $ 4,091.4
Foreign 484.5 464.3 346.2
EARNINGS BEFORE INCOME TAXES $ 5,310.1 $ 4,872.3 $ 4,437.6
v3.25.2
Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Current:      
Federal $ 880.5 $ 847.4 $ 840.0
Foreign 136.0 132.8 104.6
State 176.9 177.5 161.1
Total current 1,193.4 1,157.7 1,105.7
Deferred:      
Federal 0.7 (18.7) (77.4)
Foreign 19.4 (6.6) 4.3
State 16.9 (12.1) (7.0)
Total deferred 37.0 (37.4) (80.1)
Total provision for income taxes $ 1,230.4 $ 1,120.3 $ 1,025.6
v3.25.2
Income Taxes - Reconciliation of U.S. Federal Statutory Rate to Effective Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Provision for taxes at U.S. statutory rate $ 1,115.1 $ 1,023.2 $ 931.9
State taxes, net of federal tax benefit 128.0 120.6 111.2
Foreign rate differential 39.0 41.0 33.1
Excess tax benefit - Stock-based compensation (24.3) (17.1) (19.0)
Other (27.4) (47.4) (31.6)
Total provision for income taxes $ 1,230.4 $ 1,120.3 $ 1,025.6
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Provision for taxes at U.S. statutory rate 21.00% 21.00% 21.00%
State taxes, net of federal tax benefit 2.40% 2.50% 2.50%
Foreign rate differential 0.70% 0.90% 0.70%
Excess tax benefit - Stock-based compensation (0.40%) (0.40%) (0.40%)
Other (0.50%) (1.00%) (0.70%)
Provision for income taxes from continuing operations, percent 23.20% 23.00% 23.10%
v3.25.2
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Income Tax Examination [Line Items]        
Provision for income taxes from continuing operations, percent 23.20% 23.00% 23.10%  
Long-term deferred tax assets $ 731.6 $ 916.7    
Undistributed earnings of foreign subsidiaries 55.2      
Deferred tax assets, operating loss carryforwards 59.3 41.7    
Valuation allowance 23.8 11.1    
Income taxes paid 1,198.0 1,185.2 $ 1,080.7  
Unrecognized tax benefits 163.0 126.9 116.9 $ 98.1
Unrecognized tax benefits that would impact effective tax rate 119.0 91.8 83.6  
Unrecognized tax benefits, interest on income taxes expense 4.3 5.7 $ 9.1  
Unrecognized tax benefits, interest on income taxes accrued 36.9 32.6    
Unrecognized tax benefits, income tax penalties accrued 0.3 0.0    
Foreign Tax Authority        
Income Tax Examination [Line Items]        
Deferred tax assets, operating loss carryforwards 117.3      
Deferred tax assets, operating loss carryforwards, subject to expiration 17.8      
Operating loss carry forwards not subject to expiration 99.5      
Domestic Tax Authority        
Income Tax Examination [Line Items]        
Deferred tax assets, operating loss carryforwards, subject to expiration 16.4      
Operating loss carry forwards not subject to expiration 90.9      
Operating loss carryforwards 107.3      
State and Local Jurisdiction        
Income Tax Examination [Line Items]        
Operating loss carryforwards 109.2      
Other Assets        
Income Tax Examination [Line Items]        
Long-term deferred tax assets $ 56.1 $ 200.2    
v3.25.2
Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Jun. 30, 2024
Deferred tax assets:    
Accrued expenses not currently deductible $ 256.7 $ 237.4
Stock-based compensation expense 56.0 51.3
Foreign tax credits 8.8 12.0
Fixed and intangible assets 216.8 194.9
Net operating losses 59.3 41.7
Disallowed business interest expense carryforward 30.9 0.0
Unrealized investment losses, net 98.4 351.4
Other 28.5 39.1
Deferred tax assets, gross 755.4 927.8
Less: valuation allowances (23.8) (11.1)
Deferred tax assets, net 731.6 916.7
Deferred tax liabilities:    
Deferred contract costs 654.0 620.7
Prepaid expenses 103.1 88.8
Prepaid retirement benefits 53.1 40.3
Tax on unrepatriated earnings 12.0 10.2
Other 16.9 20.8
Deferred tax liabilities 839.1 780.8
Net deferred tax (liabilities)/assets $ (107.5)  
Net deferred tax (liabilities)/assets   $ 135.9
v3.25.2
Income Taxes - Reconciliation of Beginning and Ending balance of Unrecognized Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits at beginning of the year $ 126.9 $ 116.9 $ 98.1
Additions for tax positions 29.5 17.2 11.3
Additions for tax positions of prior periods 26.7 17.8 16.8
Reductions for tax positions of prior periods (1.8) (12.8) (5.0)
Settlement with tax authorities (0.1) (9.0) (1.8)
Expiration of the statute of limitations (17.5) (2.9) (1.0)
Impact of foreign exchange rate fluctuations (0.7) (0.3) (1.5)
Unrecognized tax benefit at end of year $ 163.0 $ 126.9 $ 116.9
v3.25.2
Commitments And Contingencies (Details)
$ in Millions
Jun. 30, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Purchase commitments $ 1,498.9
Purchase commitments relating to 2026 331.6
Purchase commitments relating to 2027 and 2028 566.6
Purchase commitments relating to 2029 and 2030 $ 211.9
v3.25.2
Reclassification out of Accumulated Other Comprehensive Income ("AOCI") (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), net $ 924.9 $ 497.5 $ (312.1)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance 4,547.6    
Other comprehensive (loss)/income before reclassification adjustments 1,170.3 652.8 (426.6)
Tax effect (249.0) (163.3) 100.0
Reclassification adjustments to net earnings 4.7 10.4 18.7
Tax effect (1.1) (2.4) (4.2)
Ending balance 6,188.0 4,547.6  
Accumulated Other Comprehensive Income/(Loss)      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Other comprehensive income (loss), net 924.9 497.5 (312.1)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (1,808.3) (2,305.8) (1,993.7)
Ending balance (883.4) (1,808.3) (2,305.8)
Currency Translation Adjustment      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (378.8) (340.8) (354.2)
Other comprehensive (loss)/income before reclassification adjustments 89.0 (38.0) 13.4
Tax effect 0.0 0.0 0.0
Reclassification adjustments to net earnings 0.0 0.0 0.0
Tax effect 0.0 0.0 0.0
Ending balance (289.8) (378.8) (340.8)
Net Gains/(Losses) on Available-for-sale Securities      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (1,178.0) (1,705.6) (1,330.0)
Other comprehensive (loss)/income before reclassification adjustments 1,088.4 685.2 (500.3)
Tax effect (250.7) (162.2) 113.3
Reclassification adjustments to net earnings 1.7 5.9 14.7
Tax effect (0.3) (1.3) (3.3)
Ending balance (338.9) (1,178.0) (1,705.6)
Cash Flow Hedging Activities      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (20.0) (23.3) (26.6)
Other comprehensive (loss)/income before reclassification adjustments (15.6) 0.0 0.0
Tax effect 3.8 0.0 0.0
Reclassification adjustments to net earnings 5.4 4.4 4.4
Tax effect (1.3) (1.1) (1.1)
Ending balance (27.7) (20.0) (23.3)
Pension Liability      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Beginning balance (231.5) (236.1) (282.9)
Other comprehensive (loss)/income before reclassification adjustments 8.5 5.6 60.3
Tax effect (2.1) (1.1) (13.3)
Reclassification adjustments to net earnings (2.4) 0.1 (0.4)
Tax effect 0.5 0.0 0.2
Ending balance $ (227.0) $ (231.5) $ (236.1)
v3.25.2
Financial Data By Segment And Geographic Area - Narrative (Details)
 12 Months Ended
Jun. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 2
v3.25.2
Financial Data By Segment And Geographic Area - Revenues, Significant Segment Expenses and Earnings before Income Taxes by Reportable Segments (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting Information [Line Items]      
Revenues $ 20,560.9 $ 19,202.6 $ 18,012.2
Less segment expenses:      
Total consolidated earnings before income taxes 5,310.1 4,872.3 4,437.6
Operating Segments      
Less segment expenses:      
Total consolidated earnings before income taxes 5,959.0 5,477.0 4,951.5
Intercompany eliminations      
Segment Reporting Information [Line Items]      
Revenues (12.6) (11.8) (14.6)
Operating Segments, Excluding Intersegment Elimination      
Segment Reporting Information [Line Items]      
Revenues 20,573.5 19,214.4 18,026.8
Other      
Less segment expenses:      
Total consolidated earnings before income taxes (648.9) (604.7) (513.9)
Employer Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 13,883.1 12,980.8 12,042.6
Less segment expenses:      
Selling and marketing 2,177.1 2,025.0 1,885.3
Zero-margin benefits pass-through costs 0.0 0.0 0.0
Worker's compensation coverage and state unemployment taxes 0.0 0.0 0.0
Other segment expenses 6,697.5 6,400.3 6,183.1
Total consolidated earnings before income taxes 5,008.5 4,555.5 3,974.2
Employer Services | Intercompany eliminations      
Segment Reporting Information [Line Items]      
Revenues (12.6) (11.8) (14.6)
Employer Services | Operating Segments, Excluding Intersegment Elimination      
Segment Reporting Information [Line Items]      
Revenues 13,883.1 12,980.8 12,042.6
PEO Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 6,690.4 6,233.6 5,984.2
Less segment expenses:      
Selling and marketing 362.8 330.5 307.4
Zero-margin benefits pass-through costs 4,289.0 3,975.9 3,800.9
Worker's compensation coverage and state unemployment taxes 681.3 613.4 606.3
Other segment expenses 406.8 392.3 292.3
Total consolidated earnings before income taxes 950.5 921.5 977.3
PEO Services | Intercompany eliminations      
Segment Reporting Information [Line Items]      
Revenues 0.0 0.0 0.0
PEO Services | Operating Segments, Excluding Intersegment Elimination      
Segment Reporting Information [Line Items]      
Revenues 6,690.4 6,233.6 5,984.2
Revenues from external customers | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 19,371.8 18,177.9 17,198.8
Revenues from external customers | Employer Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 12,692.2 11,953.6 11,222.0
Revenues from external customers | PEO Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 6,679.6 6,224.3 5,976.8
Interest on funds held for clients      
Segment Reporting Information [Line Items]      
Revenues 1,189.1 1,024.7 813.4
Interest on funds held for clients | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 1,189.1 1,024.7 813.4
Interest on funds held for clients | Employer Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 1,178.3 1,015.4 806.0
Interest on funds held for clients | PEO Services | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues $ 10.8 $ 9.3 $ 7.4
v3.25.2
Financial Data By Segment And Geographic Area - Financial Data By Segment And Geographic Area - Depreciation and Amortization Included in Earnings before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting Information [Line Items]      
Total depreciation and amortization $ 582.4 $ 561.9 $ 549.3
Other      
Segment Reporting Information [Line Items]      
Total depreciation and amortization 63.3 68.5 74.2
Employer Services | Operating Segments      
Segment Reporting Information [Line Items]      
Total depreciation and amortization 512.4 486.6 467.6
PEO Services | Operating Segments      
Segment Reporting Information [Line Items]      
Total depreciation and amortization $ 6.7 $ 6.8 $ 7.5
v3.25.2
Financial Data By Segment And Geographic Area - Revenues and Assets by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting Information [Line Items]      
Revenues $ 20,560.9 $ 19,202.6 $ 18,012.2
Assets 53,369.3 54,362.7 50,971.0
United States      
Segment Reporting Information [Line Items]      
Revenues 18,179.2 16,934.2 15,950.9
Assets 46,763.0 47,989.9 44,565.9
Europe      
Segment Reporting Information [Line Items]      
Revenues 1,533.5 1,451.4 1,309.2
Assets 3,025.5 2,800.8 2,602.2
Canada      
Segment Reporting Information [Line Items]      
Revenues 489.3 473.7 427.5
Assets 2,750.7 2,796.6 3,022.0
Other      
Segment Reporting Information [Line Items]      
Revenues 358.9 343.3 324.6
Assets $ 830.1 $ 775.4 $ 780.9
v3.25.2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Deferred tax valuation allowance      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year $ 11,119 $ 18,600 $ 18,867
Charged to costs and expenses 809 228 28
Charged to other accounts [1] 12,817 1,216 366
Deductions (981) (8,925) (661)
Balance at end of year 23,764 11,119 18,600
Current | Allowance for doubtful accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 52,223 53,080 56,768
Charged to costs and expenses 24,277 34,642 23,412
Charged to other accounts [1] 316 39 (34)
Deductions [2] (29,716) (35,538) (27,066)
Balance at end of year 47,100 52,223 53,080
Long-term | Allowance for doubtful accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year 113 113 83
Charged to costs and expenses 0 0 0
Charged to other accounts [1] 0 0 30
Deductions [2] 0 0 0
Balance at end of year $ 113 $ 113 $ 113
[1] Includes amounts related to foreign exchange fluctuation.
[2] Doubtful accounts written off, less recoveries on accounts previously written off