118.5

99.4

^[1]

986.1

898.9

3,323.2

3,077.2

Costs of revenues:

1,709.9

1,630.7

158.0

158.2

72.6

62.6

TOTAL COSTS OF REVENUES

1,940.5

1,851.5

713.9

675.4

35.9

28.0

2,690.3

2,554.9

Other income, net

(13.9)

(42.6)

646.8

564.9

141.4

152.3

BASIC EARNINGS PER SHARE (in US$ per share)

$ 505.4

$ 412.6

$ 1.16

$ 0.93

DILUTED EARNINGS PER SHARE (in US$ per share)

$ 1.15

$ 0.93

Basic weighted average shares outstanding (shares)

436.8

442.2

Diluted weighted average shares outstanding (shares)

439.9

445.0

Dividends declared per common share (in US$ per share)

$ 0.69

$ 0.57

[1]	Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $9,629.4 million and $8,738.5 million for the three months ended September 30, 2018 and 2017, respectively.

Statements of Consolidated Earnings (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Direct pass-through costs PEO revenues	$ 9,629.4	$ 8,738.5

Statements of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Consolidated Statement of Comprehensive Income [Abstract]
Net earnings	$ 505.4	$ 412.6
Other comprehensive income/loss:
Currency translation adjustments	(22.9)	52.8
Unrealized net losses on available-for-sale securities	(50.4)	(12.8)
Tax effect	12.3	3.5
Reclassification of net losses on available-for-sale securities to net earnings	0.9	0.0
Tax effect	(0.2)	0.0
Reclassification of pension liability adjustment to net earnings	0.2	2.3
Tax effect	(0.2)	(0.9)
Other comprehensive (loss)/income, net of tax	(60.3)	44.9
Comprehensive income	$ 445.1	$ 457.5

Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Jun. 30, 2018
Current assets:
Cash and cash equivalents	$ 1,490,300,000	$ 2,170,000,000
Accounts receivable, net of allowance for doubtful accounts of $52.2 and $51.3, respectively	2,216,400,000	1,984,200,000
Other current assets	846,500,000	531,300,000
Total current assets before funds held for clients	4,553,200,000	4,685,500,000
Funds held for clients	25,402,700,000	27,137,800,000
Total current assets	29,955,900,000	31,823,300,000
Long-term receivables, net of allowance for doubtful accounts of $0.6 and $0.5, respectively	25,200,000	25,500,000
Property, plant and equipment, net	787,700,000	793,700,000
Deferred contract costs	2,352,300,000	2,377,400,000
Other assets	1,053,400,000	699,300,000
Goodwill	2,325,000,000	2,243,500,000
Intangible assets, net	917,200,000	886,400,000
Total assets	37,416,700,000	38,849,100,000
Current liabilities:
Accounts payable	131,800,000	135,400,000
Accrued expenses and other current liabilities	1,603,500,000	1,547,600,000
Accrued payroll and payroll-related expenses	446,900,000	667,700,000
Dividends payable	298,800,000	298,900,000
Short-term deferred revenues	229,000,000	225,700,000
Income taxes payable	75,400,000	43,900,000
Total current liabilities before client funds obligations	3,238,400,000	2,919,200,000
Client funds obligations	25,798,900,000	27,493,500,000
Total current liabilities	29,037,300,000	30,412,700,000
Long-term debt	2,002,400,000	2,002,400,000
Other liabilities	736,400,000	728,000,000
Deferred income taxes	533,200,000	522,000,000
Long-term deferred revenues	428,600,000	448,100,000
Total liabilities	32,737,900,000	34,113,200,000
Commitments and contingencies (Note 14)
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 September 30, 2018 and June 30, 2018; outstanding, 438.2 and 438.8 shares at September 30, 2018 and June 30, 2018, respectively	63,900,000	63,900,000
Capital in excess of par value	1,035,100,000	1,014,800,000
Retained earnings	16,741,100,000	16,546,600,000
Treasury stock - at cost: 200.5 and 199.9 shares at September 30, 2018 and June 30, 2018, respectively	(12,421,200,000)	(12,209,600,000)
Accumulated other comprehensive loss	(740,100,000)	(679,800,000)
Total stockholders’ equity	4,678,800,000	4,735,900,000
Total liabilities and stockholders’ equity	37,416,700,000	38,849,100,000
Obligations under reverse repurchase agreements (A)	$ 453,000,000	$ 0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts - trade receivables - Current	$ 52.2	$ 51.3
Allowance for doubtful accounts - trade receivables - Long-term	$ 0.6	$ 0.5
Preferred stock, par value (in US$ per share)	$ 1.0	$ 1.00
Preferred stock, shares authorized (in shares)	300,000.0	300,000.0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in US$ per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000.0
Common stock, shares issued (in shares)	638,700,000	638,700,000
Common stock, shares outstanding (in shares)	438,200,000	438,800,000
Treasury stock, (in shares)	200,500,000	199,900,000
Short-term Marketable Securities Under Reverse Repurchase Agreements	$ 123.8	$ 0.0
Long-term Marketable Securities Under Reverse Repurchase Agreements	328.6	0.0
Cash And Cash Equivalents Under Reverse Repurchase Agreements	$ 0.6	$ 0.0

Statements Of Consolidated Cash Flows - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities:
Net earnings	$ 505.4	$ 412.6
Adjustments to reconcile net earnings to cash flows provided by operating activities:
Depreciation and amortization	99.0	87.2
Amortization of deferred contract costs	216.9	204.7
Deferred income taxes	26.4	55.4
Stock-based compensation expense	38.4	39.0
Net pension expense	17.1	2.7
Net amortization of premiums and accretion of discounts on available-for-sale securities	14.3	19.4
Impairment of intangible assets	12.1	0.0
Other	10.1	9.6
Changes in operating assets and liabilities, net of effects from acquisitions:
Increase in accounts receivable	(239.2)	(81.7)
Increase in other assets	(471.2)	(460.7)
Decrease in accounts payable	(2.3)	(24.5)
Decrease in accrued expenses and other liabilities	(77.8)	(19.0)
Net cash flows provided by operating activities	149.2	244.7
Cash Flows from Investing Activities:
Purchases of corporate and client funds marketable securities	(755.8)	(1,157.3)
Proceeds from the sales and maturities of corporate and client funds marketable securities	539.8	1,007.7
Capital expenditures	(43.2)	(73.3)
Additions to intangibles	(73.8)	(69.7)
Acquisitions of businesses, net of cash acquired	(119.7)	0.0
Net cash flows used in investing activities	(452.7)	(292.6)
Cash Flows from Financing Activities:
Net decrease in client funds obligations	(1,711.5)	(1,674.3)
Payments of debt	(0.5)	(0.9)
Repurchases of common stock	(227.1)	(250.1)
Net proceeds from stock purchase plan and stock-based compensation plans	(24.4)	(15.1)
Dividends paid	(302.6)	(253.7)
Net proceeds from reverse repurchase agreements	448.4	129.4
Net cash flows used in financing activities	(1,817.7)	(2,064.7)
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents	(12.6)	14.2
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents	(2,133.8)	(2,098.4)
Cash, cash equivalents, restricted cash, and restricted cash equivalents, beginning of period	6,542.1	8,181.6
Cash, cash equivalents, restricted cash, and restricted cash equivalents, end of period	4,408.3	6,083.2
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	6,542.1	8,181.6
Supplemental disclosures of cash flow information:
Cash paid for interest	49.4	41.4
Cash paid for income taxes, net of income tax refunds	$ 39.3	$ 41.9

Basis of Presentation	3 Months Ended
Basis of Presentation	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation 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”). The Consolidated Financial Statements and footnotes thereto are unaudited. In the opinion of the Company’s management, the Consolidated Financial Statements reflect all adjustments, which are of a normal recurring nature, that are necessary for a fair presentation of the Company’s interim financial results. 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 8, “Corporate Investments and Funds Held for Clients.” Restatements Effective July 1, 2018, certain prior period amounts have been restated to conform to the current period presentation in connection with the adoption of Accounting Standards Update ("ASU") 2014-09, “Revenue from Contracts with Customers (ASC 606)” and ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost.” Also, beginning in the first quarter of the fiscal year ended June 30, 2019 ("fiscal 2019"), the Company's chief operating decision maker ("CODM") reviews segment results reported at actual interest rates and the results of the PEO segment inclusive of the results of ADP Indemnity, and with changes to certain corporate allocations. Refer to Note 2 and Note 16 for additional information. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the assets, liabilities, revenue, expenses, and accumulated other comprehensive income that are reported in the Consolidated Financial Statements and footnotes thereto. Actual results may differ from those estimates. Interim financial results are not necessarily indicative of financial results for a full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018 (“fiscal 2018”).

New Accounting Pronouncements

3 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Effective July 1, 2018, the Company adopted ASU 2014-09, “Revenue from Contracts with Customers (ASC 606)” on a retrospective basis. ASU 2014-09 requires an entity to recognize revenue depicting the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 resulted in enhanced revenue related disclosures. The standard primarily impacted the manner in which it treats certain costs to fulfill contracts (i.e., implementation costs) and costs to acquire new contracts (i.e., selling costs). The provisions of the new standard require the Company to capitalize and amortize additional implementation costs than those capitalized and amortized under previous U.S. GAAP. Under previous U.S. GAAP, the Company immediately expensed all selling expenses. The adoption of provisions of the new standard did not materially impact the timing or amount of revenue the Company recognized and did not result in significant changes in its business processes or systems. Refer to Note 3 for further details. Refer to the table below for a summary of the restatements required, as a result of this change, on the Company's consolidated results of operations, statements of financial condition, and cash flows for the three months ended September 30, 2017.

Effective July 1, 2018, the Company adopted ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost”. ASU 2017-07 requires reporting the service cost component in the same line item or items as other compensation costs arising during the period in the Statements of Consolidated Earnings. The other components of net periodic pension cost are required to be presented in the Statements of Consolidated Earnings separately from the service cost component. The Company retrospectively adopted the new standard, and as a result reclassified the non-service cost components of the net periodic benefit cost from within the respective line items of our Statements of Consolidated Earnings to Other income, net. Refer to the table below for a summary of the reclassification required, as a result of this change, on the Company's consolidated results of operations for the three months ended September 30, 2017. The adoption of the new accounting rules only impacted the classification of expenses on the Statements of Consolidated Earnings and did not impact the Company’s consolidated income, statements of financial condition, or cash flows.

Adoption of ASC 606 and ASU 2017-07 impacted the Company's prior period Statements of Consolidated Earnings, Consolidated Balance Sheets, and Consolidated Cash Flows as follows:

Statements of Consolidated Earnings



	Three Months Ended
	September 30, 2017
	As reported			Adjustments ASC 606			Adjustments ASU 2017-07			As adjusted
Revenues, other than interest on funds held for clients and PEO revenues	$	2,080.9		$	(2.0	)	$	—		$	2,078.9
Interest on funds held for clients	99.4			—			—			99.4
PEO revenues	898.5			0.4			—			898.9
TOTAL REVENUES	3,078.8			(1.6		)	—			3,077.2
Operating expenses	1,646.9			(25.3		)	9.3			1,630.7
Systems development and programming costs	156.9			—			1.3			158.2
Depreciation and amortization	62.6			—			—			62.6
Selling, general, and administrative expenses	662.4			7.0			5.9			675.4
Interest expense	28.0			—			—			28.0
Total Expenses	2,556.8			(18.3		)	16.5			2,554.9
Other income, net	(26.2		)	—			(16.5		)	(42.6		)
EARNINGS BEFORE INCOME TAXES	548.2			16.7			—			564.9
Provision for income taxes	146.7			5.6			—			152.3
NET EARNINGS	$	401.5		$	11.1		$	—		$	412.6

Consolidated Balance Sheets



	June 30,					June 30,
	2018		Adjustments ASC 606			2018
	As reported		Adjustments ASC 606			As adjusted
Assets
Current assets:
Other current assets	$	758.0	$	(226.7	)	$	531.3
Total current assets	32,050.0		(226.7		)	31,823.3
Deferred contract costs	—		2,377.4			2,377.4
Other assets	1,089.6		(390.3		)	699.3
Total assets	$	37,088.7	$	1,760.4		$	38,849.1

Liabilities and Stockholders' Equity
Current liabilities:
Short-term deferred revenues	226.5		(0.8		)	225.7
Total current liabilities	30,413.6		(0.8		)	30,412.7
Deferred income taxes	107.3		414.7			522.0
Long-term deferred revenues	377.8		70.2			448.1
Total liabilities	33,629.1		484.1			34,113.2

Stockholders' equity:
Retained earnings	15,271.3		1,275.3			16,546.6
Total stockholders’ equity	3,459.6		1,276.3			4,735.9
Total liabilities and stockholders’ equity	$	37,088.7	$	1,760.4		$	38,849.1

Statements of Consolidated Cash Flows



	Three Months Ended
	September 30,
	2017			Adjustments ASC 606			2017
	As reported			Adjustments ASC 606			As adjusted
Cash Flows from Operating Activities:
Net earnings	$	401.5		$	11.1		$	412.6
Adjustments to reconcile net earnings to cash flows provided by operating activities:
Amortization of deferred contract costs	—			204.7			204.7
Deferred income taxes	46.4			9.0			55.4
Changes in operating assets and liabilities, net of effects from acquisitions:
Increase in other assets	(259.5		)	(201.2		)	(460.7		)
Decrease in accrued expenses and other liabilities	4.6			(23.6		)	(19.0		)
Net cash flows provided by operating activities	$	244.7		$	—		$	244.7

Recently Issued Accounting Pronouncements

The following table summarizes recent ASU's issued by the Financial Accounting Standards Board ("FASB") that could have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.



Standard	Description	Effective Date	Effect on Financial Statements or Other Significant Matters
ASU 2018-15 Intangibles - Goodwill and Other-Internal-Use Software	This update clarifies the accounting and capitalization of implementation costs in cloud computing arrangements that are service arrangements. The amendments in ASU 2018-15 are required to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption.	For fiscal years beginning after December 15, 2019. Early adoption is permitted.	The Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.
ASU 2018-14 Compensation-Retirement Benefits-Defined Benefit Plans	This update modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include (a) the amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year, and (b) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for post-retirement health care benefits. Additional disclosures include descriptions of significant gains and losses affecting the benefit obligation for the period. The amendments in ASU 2018-14 would need to be applied on a retrospective basis.	For fiscal years beginning after December 15, 2020. Early adoption is permitted.	The adoption of this guidance will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.



Standard	Description	Effective Date	Effect on Financial Statements or Other Significant Matters
ASU 2018-13 Fair Value Measurement	This update modifies the disclosure requirements on fair value measurements. Certain disclosures in ASU 2018-13 would need to be applied on a retrospective basis and others on a prospective basis.	For fiscal years beginning after December 15, 2019. Early adoption is permitted.	The adoption of this guidance will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
ASU 2018-09 Codification Improvements	This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification. The transition guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective immediately. However, many of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2018.	The transition and effective date guidance is based on the facts and circumstances of each amendment.	Clarifications which were effective immediately were not applicable and for other amendments the Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.
ASU 2016-02 Leases (Topic 842)	This update amends the existing accounting standards for lease accounting, and requires lessees to recognize most lease assets and lease liabilities on the balance sheet and to disclose key information about leasing arrangements. This ASU requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application.	For fiscal years beginning after December 15, 2018. Early adoption is permitted.	The Company will adopt ASU 2016-02 beginning on July 1, 2019. The Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.

Revenue

3 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue

Based upon similar operational and economic characteristics, the Company’s revenues are disaggregated by its three strategic pillars: U.S. Integrated HCM (“HCM”), HR Outsourcing ("HRO"), and Global with separate disaggregation for PEO 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 the Professional Employer Organization Services (“PEO”). Amounts collected from PEO worksite employers include payroll, 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 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 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. The Company has further disaggregated HRO to separate out its PEO benefits pass-through revenues.

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 5 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 or number of payrolls processed) appropriately depicts our performance towards complete satisfaction of the performance obligation. The fees are typically billed in the period in which services are performed.

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.

Collection of consideration the Company expects to receive typically occurs within 30 to 60 days of billing. We assess the collectability of revenues based primarily on the creditworthiness of the client as determined by credit checks and analysis, as well as the client's payment history.

The following tables provide details of revenue by our strategic pillars with disaggregation for PEO benefits pass-throughs and client fund interest, and includes a reconciliation to the Company’s reportable segments (in millions):



	Three Months Ended
	September 30,
Types of Revenues	2018		2017
HCM	$	1,520.3	$	1,424.1
HRO, excluding PEO benefits pass-throughs	557.5		509.1
PEO benefits pass-throughs	653.4		595.3
Global	473.5		449.3
Client Fund Interest	118.5		99.4
Total Revenues	$	3,323.2	$	3,077.2

Reconciliation of disaggregated revenue to our reportable segments for September 30, 2018:



Types of Revenues	Employer Services		PEO		Other			Total
HCM	$	1,521.8	$	—	$	(1.5	)	$	1,520.3
HRO, excluding PEO benefits pass-throughs	226.1		332.7		(1.3		)	557.5
PEO benefits pass-throughs	—		653.4		—			653.4
Global	473.5		—		—			473.5
Client Fund Interest	116.8		1.7		—			118.5
Total Segment Revenues	$	2,338.2	$	987.8	$	(2.8	)	$	3,323.2

Reconciliation of disaggregated revenue to our reportable segments for September 30, 2017:



Types of Revenues	Employer Services		PEO		Other			Total
HCM	$	1,425.0	$	—	$	(0.9	)	$	1,424.1
HRO, excluding PEO benefits pass-throughs	206.6		303.6		(1.1		)	509.1
PEO benefits pass-throughs	—		595.3		—			595.3
Global	449.3		—		—			449.3
Client Fund Interest	98.5		0.9		—			99.4
Total Segment Revenues	$	2,179.4	$	899.8	$	(2.0	)	$	3,077.2

Contract Balances

The timing of revenue recognition for our HCM, Global and HRO services 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.

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.

Changes in deferred revenue related to set up fees for the three months ended September 30, 2018 were as follows:



Contract Liability
Contract liability, July 1, 2018	$	607.5
Recognition of revenue included in beginning of year contract liability	(47.4		)
Contract liability, net of revenue recognized on contracts during the period	30.8
Currency adjustments	(5.8		)
Contract liability, September 30, 2018	$	585.1

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 Company's business unit. The Company has previously expensed these costs as incurred. Expected renewal periods are only included in the expected client relationship period if commission amounts paid upon renewal are not commensurate with amounts paid on the initial contract. 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 retention by business unit to estimate the pattern during which the service transfers.

Deferred costs are periodically reviewed for impairment. There were no impairment losses incurred during the period.

The balance is as follows:



	September 30,
	2018
Deferred costs to obtain a contract	$	1,445.7
Deferred costs to fulfill a contract	906.6
Total deferred contract costs (1)	$	2,352.3

(1) The amount of total deferred costs amortized during the three months ended September 30, 2018 and for the three months ended September 30, 2017 were $216.9 million and $204.7 million, respectively.

Acquisitions

3 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Acquisitions

In October 2017, the Company acquired 100% of the outstanding shares of Global Cash Card, Inc. ("GCC"), a leader in digital payments, including paycards and other electronic accounts, for approximately $490 million in cash, net of cash acquired. The acquisition of GCC makes ADP the only human capital management provider with a proprietary digital payments processing platform. The results of GCC are reported within the Company’s Employer Services segment.

The final purchase price allocation for GCC is as follows:



Goodwill	$	406.1
Identifiable intangible assets	132.5
Other assets	0.8
Total assets acquired	$	539.4

Total liabilities assumed	$	48.4

The Company determined the purchase price allocations for this acquisition based on estimates of the fair value of tangible and intangible assets acquired and liabilities assumed, utilizing recognized valuation techniques, including the income and market approaches. The goodwill recorded as a result of the GCC transaction represents future economic benefits we expect to achieve as a result of the acquisition and expected cost synergies. None of the goodwill resulting from the acquisition is tax deductible. Intangible assets for GCC, which totaled $132.5 million, included technology and software, and customer contracts and lists which are being amortized over a weighted average life of approximately 8 years.

In January 2018, the Company acquired 100% of the outstanding shares of Work Market, Inc. ("WorkMarket"), a leading provider of cloud-based freelance management solutions, for approximately $125 million in cash.

In July 2018, the Company acquired 100% of outstanding shares of Celergo Holdings, Inc. ("Celergo"), a leading provider of multi-country payroll management services.

These acquisitions, individually or in aggregate, were not material to the Company's results of operations, financial position, or cash flows and, therefore, the pro forma impact of these acquisitions is not presented. The results of these acquisitions are reported within the Company’s Employer Services segment.

Service Alignment Initiative

3 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Service Alignment Initiative

On July 28, 2016, the Company announced a Service Alignment Initiative that simplified the Company's service organization by aligning the Company's service operations to its strategic platforms and locations. In fiscal 2016, the Company entered into leases in Norfolk, Virginia and Maitland, Florida, and in fiscal 2017, the Company entered into a lease in Tempe, Arizona as part of this effort. The Company began incurring charges during the first quarter of fiscal 2017. The charges primarily relate to employee separation benefits recognized under Accounting Standards Codification ("ASC") 712, and also include charges for the relocation of certain current Company employees, lease termination costs, and accelerated depreciation of fixed assets. The Company does not expect to recognize significant pre-tax restructuring charges related to the Service Alignment Initiative for the remainder of fiscal 2019.

The table below summarizes the composition of the Company's Service Alignment Initiative (reversals)/charges:



	Three Months Ended						Cumulative amount from inception through
	September 30,						September 30,
	2018			2017			2018
Employee separation benefits (a)	$	(5.2	)	$	(5.2	)	$	94.3
Other initiative costs (b)	0.8			1.9			11.8
Total (c)	$	(4.4	)	$	(3.3	)	$	106.1

(a) - (Reversals)/charges are recorded in selling, general and administrative expenses on the Statements of Consolidated Earnings.

(b) - Other initiative costs include costs to relocate certain current Company employees to new locations, lease termination charges (both included within selling, general and administrative expenses on the Statements of Consolidated Earnings), and accelerated depreciation on fixed assets (included within depreciation and amortization on the Statements of Consolidated Earnings).

(c) - All charges are included within the Other segment.

Activity for the Service Alignment Initiative liability for the three months ended September 30, 2018 and September 30, 2017, respectively, was as follows:



	Employee separation benefits			Other initiative costs			Total
Balance at June 30, 2018	$	54.0		$	0.5		$	54.5
Charged to expense	4.1			0.8			4.9
Reversals	(9.3		)	—			(9.3		)
Cash payments	(11.1		)	(0.4		)	(11.5		)
Non-cash utilization	—			(0.3		)	(0.3		)
Balance at September 30, 2018	$	37.7		$	0.6		$	38.3

Balance at June 30, 2017	$	73.9		$	0.5		$	74.4
Charged to expense	0.8			1.9			2.7
Reversals	(6.0		)	—			(6.0		)
Cash payments	(9.4		)	(1.2		)	(10.6		)
Non-cash utilization	—			(0.6		)	(0.6		)
Balance at September 30, 2017	$	59.3		$	0.6		$	59.9

Earnings per Share (“EPS”)

3 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings per Share (“EPS”)



	Basic		Effect of Employee Stock Option Shares	Effect of Employee Restricted Stock Shares	Diluted
Three Months Ended September 30, 2018
Net earnings	$	505.4			$	505.4
Weighted average shares (in millions)	436.8		1.4	1.7	439.9
EPS	$	1.16			$	1.15
Three Months Ended September 30, 2017
Net earnings	$	412.6			$	412.6
Weighted average shares (in millions)	442.2		1.0	1.8	445.0
EPS	$	0.93			$	0.93

Options to purchase 0.3 million and 0.4 million shares of common stock for the three months ended September 30, 2018 and 2017, respectively, were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

Other Income, Net

3 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Other Income, Net



	Three Months Ended
	September 30,
	2018			2017
Interest income on corporate funds	$	(28.5	)	$	(25.8	)
Realized gains on available-for-sale securities	(0.4		)	(0.3		)
Realized losses on available-for-sale securities	1.3			0.3
Impairment of intangible assets	12.1			—
Gain on sale of assets	—			(0.4		)
Non-service components of pension expense, net (see Note 2)	1.6			(16.4		)
Other income, net	$	(13.9	)	$	(42.6	)

The charges within non-service components of pension expense, net includes $14.0 million of non-cash settlement charges and $1.3 million of special termination benefits related to the Voluntary Early Retirement Program ("VERP"), partially offset by $13.7 million related to other components of net periodic pension cost. Refer to Note 2 and Note 12 for further information.

The Company wrote down $12.1 million of internally developed software which was determined to have no future use due to redundant software identified as part of a recent acquisition.

Corporate Investments and Funds Held For Clients

3 Months Ended

Sep. 30, 2018

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 September 30, 2018 and June 30, 2018 were as follows:



	September 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value (A)
Type of issue:
Money market securities, cash and other cash equivalents	$	4,408.3	$	—	$	—		$	4,408.3
Available-for-sale securities:
Corporate bonds	9,999.1		15.2		(167.2		)	9,847.1
Asset-backed securities	4,540.6		0.1		(66.2		)	4,474.5
U.S. government agency securities	2,738.9		2.6		(53.2		)	2,688.3
U.S. Treasury securities	2,741.8		0.1		(90.4		)	2,651.5
Canadian government obligations and Canadian government agency obligations	1,132.0		0.3		(24.7		)	1,107.6
Canadian provincial bonds	767.2		3.6		(9.4		)	761.4
Municipal bonds	579.2		1.7		(6.3		)	574.6
Other securities	854.0		1.8		(13.2		)	842.6

Total available-for-sale securities	23,352.8		25.4		(430.6		)	22,947.6

Total corporate investments and funds held for clients	$	27,761.1	$	25.4	$	(430.6	)	$	27,355.9

(A) Included within available-for-sale securities are corporate investments with fair values of $462.9 million and funds held for clients with fair values of $22,484.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.



	June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value (B)
Type of issue:
Money market securities, cash and other cash equivalents	$	6,542.1	$	—	$	—		$	6,542.1
Available-for-sale securities:
Corporate bonds	9,819.4		20.3		(160.9		)	9,678.8
Asset-backed securities	4,555.5		0.3		(64.1		)	4,491.7
U.S. government agency securities	2,787.0		4.0		(47.7		)	2,743.3
U.S. Treasury securities	2,678.9		0.4		(76.9		)	2,602.4
Canadian government obligations and Canadian government agency obligations	1,109.0		0.4		(20.6		)	1,088.8
Canadian provincial bonds	724.5		5.1		(7.4		)	722.2
Municipal bonds	584.6		3.2		(4.3		)	583.5
Other securities	873.0		3.0		(10.5		)	865.5

Total available-for-sale securities	23,131.9		36.7		(392.4		)	22,776.2

Total corporate investments and funds held for clients	$	29,674.0	$	36.7	$	(392.4	)	$	29,318.3

(B) Included within available-for-sale securities are corporate investments with fair values of $10.5 million and funds held for clients with fair values of $22,765.7 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" in the Company's Annual Report on Form 10-K for fiscal 2018. The Company did not transfer any assets between Levels during the three months ended September 30, 2018 or fiscal 2018. In addition, 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 September 30, 2018.

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 September 30, 2018, are as follows:



	September 30, 2018
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(105.1	)	$	6,919.2	$	(62.1	)	$	1,598.9	$	(167.2	)	$	8,518.1
Asset-backed securities	(39.2		)	2,907.1		(27.0		)	1,544.5		(66.2		)	4,451.6
U.S. government agency securities	(18.8		)	1,312.2		(34.4		)	1,148.9		(53.2		)	2,461.1
U.S. Treasury securities	(20.1		)	847.6		(70.3		)	1,787.6		(90.4		)	2,635.2
Canadian government obligations and Canadian government agency obligations	(24.7		)	1,071.4		—			1.1		(24.7		)	1,072.5
Canadian provincial bonds	(8.3		)	459.7		(1.1		)	50.2		(9.4		)	509.9
Municipal bonds	(5.4		)	391.7		(0.9		)	19.7		(6.3		)	411.4
Other securities	(9.1		)	570.8		(4.1		)	120.6		(13.2		)	691.4
	$	(230.7	)	$	14,479.7	$	(199.9	)	$	6,271.5	$	(430.6	)	$	20,751.2

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, 2018, are as follows:



	June 30, 2018
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(118.2	)	$	7,132.9	$	(42.7	)	$	994.2	$	(160.9	)	$	8,127.1
Asset-backed securities	(47.4		)	3,515.9		(16.7		)	867.7		(64.1		)	4,383.6
U.S. government agency securities	(31.2		)	2,013.8		(16.5		)	431.1		(47.7		)	2,444.9
U.S. Treasury securities	(46.9		)	1,676.8		(30.0		)	864.0		(76.9		)	2,540.8
Canadian government obligations and Canadian government agency obligations	(20.6		)	1,020.3		—			—		(20.6		)	1,020.3
Canadian provincial bonds	(6.3		)	387.7		(1.1		)	50.4		(7.4		)	438.1
Municipal bonds	(3.6		)	285.8		(0.7		)	16.0		(4.3		)	301.8
Other securities	(9.2		)	573.3		(1.3		)	33.4		(10.5		)	606.7
	$	(283.4	)	$	16,606.5	$	(109.0	)	$	3,256.8	$	(392.4	)	$	19,863.3

At September 30, 2018, 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 October 2018 through September 2028.

At September 30, 2018, asset-backed securities include AAA rated senior tranches of securities with predominantly prime collateral of fixed-rate credit card, auto loan, equipment lease, and rate reduction receivables with fair values of $2,018.3 million, $1,799.5 million, $467.6 million, and $189.1 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 September 30, 2018.

At September 30, 2018, U.S. government agency securities primarily include debt directly issued by Federal Home Loan Banks and Federal Farm Credit Banks with fair values of $1,785.7 million and $678.5 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 October 2018 through August 2026.

At September 30, 2018, other securities and their fair value primarily represent: U.S. government agency commercial mortgage-backed securities of $307.8 million issued by Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, Aa2 rated United Kingdom Gilt securities of $195.2 million, AAA and AA rated supranational bonds of $125.4 million, and AAA and AA rated sovereign bonds of $109.8 million.

Classification of corporate investments on the Consolidated Balance Sheets is as follows:



	September 30,		June 30,
	2018		2018
Corporate investments:
Cash and cash equivalents	$	1,490.3	$	2,170.0
Short-term marketable securities (a)	127.1		3.3
Long-term marketable securities (b)	335.8		7.2
Total corporate investments	$	1,953.2	$	2,180.5

(a) - Short-term marketable securities are included within Other current assets on the Consolidated Balance Sheets.

(b) - Long-term marketable securities are included within Other assets on the Consolidated Balance Sheets.

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:



	September 30,		June 30,
	2018		2018
Funds held for clients:
Restricted cash and cash equivalents held to satisfy client funds obligations	$	2,918.0	$	4,372.1
Restricted short-term marketable securities held to satisfy client funds obligations	3,491.0		2,521.4
Restricted long-term marketable securities held to satisfy client funds obligations	18,993.7		20,244.3
Total funds held for clients	$	25,402.7	$	27,137.8

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 $25,798.9 million and $27,493.5 million at September 30, 2018 and June 30, 2018, 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 September 30, 2018 and June 30, 2018, $22,994.7 million and $24,242.9 million, respectively, 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. These amounts have been reconciled to the Consolidated Balance Sheets on the Statements of Consolidated Cash Flows. 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.

Approximately 79% of the available-for-sale securities held a AAA or AA rating at September 30, 2018, as rated by Moody's, Standard & Poor's, DBRS for Canadian denominated securities, and Fitch for asset-backed and commercial mortgage backed securities. All available-for-sale securities were rated as investment grade at September 30, 2018.

Expected maturities of available-for-sale securities at September 30, 2018 are as follows:



One year or less	$	3,618.0
One year to two years	4,663.9
Two years to three years	5,684.7
Three years to four years	4,044.8
After four years	4,936.2
Total available-for-sale securities	$	22,947.6

Goodwill and Intangible Assets, net

3 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles Assets, net

Changes in goodwill for the three months ended September 30, 2018 are as follows:



	Employer Services			PEO Services		Total
Balance at June 30, 2018	$	2,238.7		$	4.8	$	2,243.5
Additions and other adjustments	88.4			—		88.4
Currency translation adjustments	(6.9		)	—		(6.9		)
Balance at September 30, 2018	$	2,320.2		$	4.8	$	2,325.0

Components of intangible assets, net, are as follows:



	September 30,			June 30,
	2018			2018
Intangible assets:
Software and software licenses	$	2,358.8		$	2,292.9
Customer contracts and lists	716.7			708.6
Other intangibles	237.9			236.5
	3,313.4			3,238.0
Less accumulated amortization:
Software and software licenses	(1,643.2		)	(1,606.6		)
Customer contracts and lists	(539.9		)	(533.4		)
Other intangibles	(213.1		)	(211.6		)
	(2,396.2		)	(2,351.6		)
Intangible assets, net	$	917.2		$	886.4

Other intangibles consist primarily of purchased rights, 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, 8 years for customer contracts and lists, and 5 years for other intangibles). Amortization of intangible assets was $53.4 million and $46.6 million for the three months ended September 30, 2018 and 2017, respectively.

Estimated future amortization expenses of the Company's existing intangible assets are as follows:



	Amount
Nine months ending June 30, 2019	$	188.5
Twelve months ending June 30, 2020	$	213.2
Twelve months ending June 30, 2021	$	164.9
Twelve months ending June 30, 2022	$	120.0
Twelve months ending June 30, 2023	$	99.5
Twelve months ending June 30, 2024	$	47.1

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Compensation and Employee Benefit Plans

Short-term Financing	3 Months Ended
Short-term Financing	Sep. 30, 2018
Short-Term Financing [Abstract]
Short-Term Financing	Short-term Financing The Company has a $3.8 billion, 364-day credit agreement that matures in June 2019 with a one year term-out option. The Company also has a $2.25 billion five-year credit facility that matures in June 2022 that also 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 has a five-year $3.75 billion credit facility maturing in June 2023 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 LIBOR, 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 September 30, 2018 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. This commercial paper program provides for the issuance of up to $9.8 billion in aggregate maturity value. The Company’s commercial paper program is rated A-1+ by Standard & Poor’s and Prime-1 by Moody’s. These ratings denote the highest quality commercial paper securities. Maturities of commercial paper can range from overnight to up to 364 days. At September 30, 2018 and June 30, 2018, the Company had no commercial paper outstanding. For the three months ended September 30, 2018 and 2017, the Company had average daily borrowings of $3.7 billion and $3.8 billion, respectively, at weighted average interest rates of 2.0% and 1.2%, respectively. The weighted average maturity of the Company’s commercial paper during the three months ended September 30, 2018 was approximately two 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. At September 30, 2018, the Company had $453.0 million of outstanding obligations related to the reverse repurchase agreements. All outstanding reverse repurchase obligations matured and were fully paid as of October 4, 2018. At June 30, 2018, there were no outstanding obligations related to the reverse repurchase agreements. For the three months ended September 30, 2018 and 2017, the Company had average outstanding balances under reverse repurchase agreements of $495.1 million and $526.2 million, respectively, at weighted average interest rates of 1.7% and 1.1%, respectively.

Long-term Debt

3 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Long-term Debt

The Company has fixed-rate notes with 5-year and 10-year maturities for an aggregate principal amount of $2.0 billion (collectively the “Notes”). The Notes are senior unsecured obligations, and interest is payable in arrears, semi-annually.

The principal amounts and associated effective interest rates of the Notes and other debt as of September 30, 2018 and June 30, 2018, are as follows:



Debt instrument	Effective Interest Rate	September 30, 2018			June 30, 2018
Fixed-rate 2.250% notes due September 15, 2020	2.37%	$	1,000.0		$	1,000.0
Fixed-rate 3.375% notes due September 15, 2025	3.47%	1,000.0			1,000.0
Other		12.5			13.0
		2,012.5			2,013.0
Less: current portion		(2.5		)	(2.5		)
Less: unamortized discount and debt issuance costs		(7.6		)	(8.1		)
Total long-term debt		$	2,002.4		$	2,002.4

The effective interest rates for the Notes include the interest on the Notes and amortization of the discount and debt issuance costs.

As of September 30, 2018, the fair value of the Notes, based on Level 2 inputs, was $1,979.4 million. For a description of the fair value hierarchy and the Company's fair value methodologies, including the use of an independent third-party service, see Note 1 "Summary of Significant Accounting Policies" in the Company's Annual Report on Form 10-K for fiscal 2018.

Employee Benefit Plans

3 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Employee Benefit Plans

Pension Plans

The components of net pension expense were as follows:



	Three Months Ended
	September 30,
	2018			2017
Service cost – benefits earned during the period	$	14.9		$	18.6
Interest cost on projected benefits	19.7			16.3
Expected return on plan assets	(32.9		)	(34.3		)
Net amortization and deferral	0.1			2.1
Settlement charges and special termination benefits	15.3			—
Net pension expense	$	17.1		$	2.7

In fiscal 2018, the Company offered a voluntary early retirement program to certain eligible U.S.-based associates aged 55 or above with at least 10 years of service. The early retirement offer was made to about 3,500 eligible associates, or approximately 6 percent of the Company’s workforce, with approximately 2,200 ADP associates opting to participate. The Company also extended to all employees participating in the VERP the opportunity to continue health care coverage at active employee contribution rates for up to 24 months following retirement. The Company recorded $9.3 million of expenses within selling, general, and administrative expenses related to the continuing health coverage for VERP participants who exited the Company during the three months ended September 30, 2018 and anticipates recording a charge for the remaining participants who will exit and continue health coverage during remainder of fiscal 2019, which may total up to $26 million, but is based on the number of associates electing this benefit and the health care option selected by each associate.

In addition, the Company recorded a $14.0 million non-cash settlement charge and $1.3 million of special termination benefits during the period. The Company anticipates recording additional non-cash settlement charges up to $15 million through the remainder of fiscal 2019, within Other income, net, on the Statements of Consolidated Earnings, contingent on the number of participants electing the lump sum payment option and other actuarial assumptions, including the discount rate and long-term rate of return on assets.

Stock-based Compensation Plans. Stock-based compensation consists of the following:

•

Stock Options. Stock options are granted to employees at exercise prices equal to the fair market value of the Company's common stock on the dates of grant. Stock options generally vest ratably over 4 years and have a term of 10 years. Compensation expense is measured based on the fair value of the stock option on the grant date and recognized on a straight-line basis over the vesting period. Stock options are forfeited if the employee ceases to be employed by the Company prior to vesting.


•	Restricted Stock.

•

Time-Based Restricted Stock and Time-Based Restricted Stock Units. Time-based restricted stock and time-based restricted stock units granted September 1, 2018 and after generally vest ratably over 3 years. Time-based restricted stock and time-based restricted stock units granted prior to September 1, 2018 are generally subject to a vesting period of two years. Awards are forfeited if the employee ceases to be employed by the Company prior to vesting. Compensation expense is measured based on the fair value of the grant at grant date and recognized on a straight-line basis over the vesting period.

Time-based restricted stock cannot be transferred during the vesting period. Compensation expense relating to the issuance of time-based restricted stock 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. Dividends are paid on shares awarded under the time-based restricted stock program.

Time-based restricted stock units are settled in cash and cannot be transferred during the vesting period. Compensation expense relating to the issuance of time-based restricted stock 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. No dividend equivalents are paid on units awarded under the time-based restricted stock unit program.

•

Performance-Based Restricted Stock and Performance-Based Restricted Stock Units. Performance-based restricted stock and 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 150% 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 cannot be transferred during the vesting period. Compensation expense relating to the issuance of performance-based restricted stock is recognized over the vesting period based on the fair value of the award on the grant date with subsequent adjustments to the number of shares awarded during the performance period based on probable and actual performance against targets. After the performance period, if the performance targets are achieved, employees are eligible to receive dividends during the remaining vesting period on shares awarded under the performance-based restricted stock program.

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 for 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.

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 programs. The Company repurchased 1.6 million and 2.2 million shares in the three months ended September 30, 2018 and 2017, respectively. 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.

The following table represents stock-based compensation expense for the three months ended September 30, 2018 and 2017, respectively:



	Three Months Ended
	September 30,
	2018		2017
Operating expenses	$	5.4	$	5.2
Selling, general and administrative expenses	28.0		28.6
System development and programming costs	5.0		5.2
Total stock-based compensation expense	$	38.4	$	39.0

As of September 30, 2018, the total remaining unrecognized compensation cost related to non-vested stock options, restricted stock units, and restricted stock awards amounted to $29.3 million, $83.6 million, and $126.7 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 2.5 years, 1.8 years, and 2.1 years, respectively.

During the three months ended September 30, 2018, 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, 2018	3,983		$	87
Options granted	836		$	147
Options exercised	(284	)	$	78
Options canceled/forfeited	(12	)	$	106
Options outstanding at September 30, 2018	4,523		$	98

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, 2018	1,598		345
Restricted shares/units granted	575		141
Restricted shares/units vested	(759	)	(169	)
Restricted shares/units forfeited	(24	)	(9	)
Restricted shares/units outstanding at September 30, 2018	1,390		308

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, 2018	302		789
Restricted shares/units granted	123		333
Restricted shares/units vested	(151	)	(283	)
Restricted shares/units forfeited	(6	)	(3	)
Restricted shares/units outstanding at September 30, 2018	268		836

The fair value for stock options granted was estimated at the date of grant using the following assumptions:



	Three Months Ended
	September 30,
	2018			2017
Risk-free interest rate	2.7		%	1.8		%
Dividend yield	1.9		%	2.1		%
Weighted average volatility factor	20.9		%	21.7		%
Weighted average expected life (in years)	5.4			5.4
Weighted average fair value (in dollars)	$	26.60		$	17.50

Income Taxes	3 Months Ended
Income Taxes	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended September 30, 2018 and 2017 was 21.9% and 27.0%, respectively. The decrease in the effective tax rate is primarily due to the impacts of the Tax Cuts and Jobs Act ("the Act") in the three months ended September 30, 2018 partially offset by the impact of benefits recognized from a foreign exchange loss realized on a distribution from a foreign subsidiary, the release of reserves for uncertain tax positions, and the usage of foreign tax credits in the three months ended September 30, 2017. The Act reduces the U.S. federal corporate income tax rate from 35% to 21%. In accordance with ASC 740 companies are required to re-measure deferred tax balances using the new enacted tax rates. The Act requires the Company to pay a one-time transition tax on earnings of the Company's foreign subsidiaries that were previously tax deferred for U.S. income taxes and creates new taxes on the Company's foreign sourced earnings. The Company included the estimated impact of the Act in accordance with Staff Accounting Bulletin No. 118, which provides guidance on accounting for the impact of the Act, in the Company's financial results for the year ended June 30, 2018. Income tax expense reported for the three months ended September 30, 2018 includes a benefit of $1.1 million related to the Act. The $1.1 million is comprised of adjustments to the one-time transition tax and valuation allowance against the Company's foreign tax credits which may not be realized. The Act’s foreign tax credit provisions may limit the Company’s ability to utilize existing foreign tax credits in future periods, accordingly we have estimated that approximately $19.2 million could expire unutilized. The Company also accrued $28.3 million in the period ended June 30, 2018 related to foreign withholding taxes on future distributions of earnings and profits ("E&P") that may not be utilizable as foreign tax credits. The accounting for the effects of the rate change on deferred tax balances is not complete and a provisional benefit of $253.3 million (restated for ASC 606) was recognized in the year ended June 30, 2018. During the three months ended September 30, 2018, the Company did not record an adjustment to this provisional amount. The Company is still analyzing certain aspects of the Act and refining calculations, which could potentially affect the re-measurement of these balances or potentially give rise to new deferred tax amounts. The one-time transition tax is based on the total post-1986 E&P that was previously deferred from US income taxes. The Company recorded a provisional amount for the one-time transition tax liability of $22.2 million for the Company's foreign subsidiaries. The Company has not yet completed the calculation of the total post-1986 E&P for these foreign subsidiaries. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified assets. This amount may change when the Company finalizes the calculation of post-1986 foreign E&P previously deferred from US federal taxation and finalizes the amounts held in cash or other specified assets. During the three months ended September 30, 2018, the Company continued to evaluate and analyze its assessment of the Act which involves monitoring guidance from the U.S. tax authorities and refining tax return positions. The Company expects to complete its analysis and provisional estimates during the three months ended December 31, 2018 and record an adjustment to tax expense, if applicable.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In June 2018, a potential class action complaint was filed against ADP in the Circuit Court of Cook County, Illinois. The complaint asserts that ADP violated the Illinois Biometric Privacy Act, was negligent and unjustly enriched itself in connection with its collection, use and storage of biometric data of employees of its clients who are residents of Illinois in connection with certain services provided by ADP to clients in Illinois. The complaint seeks statutory and other unspecified monetary damages, injunctive relief and attorney’s fees. In addition, similar potential class action complaints have been filed in Illinois state courts against ADP and/or certain of its clients with respect to the collection, use and storage of biometric data of the employees of these clients. All of these claims are still in their earliest stages and the Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters. The Company intends to vigorously defend against these lawsuits. 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.

Reclassifications out of Accumulated Other Comprehensive Income ("AOCI")

3 Months Ended

Sep. 30, 2018

Reclassification out of Accumulated Other Comprehensive Income [Abstract]

Reclassifications out of Accumulated Other Comprehensive Income (AOCI)

Reclassifications out of Accumulated Other Comprehensive Income ("AOCI")

Changes in AOCI by component are as follows:



	Three Months Ended
	September 30, 2018
	Currency Translation Adjustment			Net Gains/Losses on Available-for-sale Securities				Pension Liability				Accumulated Other Comprehensive Loss
Balance at June 30, 2018	$	(227.0	)	$	(274.0	)		$	(178.8	)		$	(679.8	)
Other comprehensive loss before reclassification adjustments	(22.9		)	(50.4		)		—				(73.3		)
Tax effect	—			12.3				—				12.3
Reclassification adjustments to net earnings	—			0.9			(A)	0.2			(B)	1.1
Tax effect	—			(0.2		)		(0.2		)		(0.4		)
Balance at September 30, 2018	$	(249.9	)	$	(311.4	)		$	(178.8	)		$	(740.1	)



	Three Months Ended
	September 30, 2017
	Currency Translation Adjustment			Net Gains/Losses on Available-for-sale Securities			Pension Liability				Accumulated Other Comprehensive Loss
Balance at June 30, 2017	$	(234.8	)	$	68.3		$	(216.7	)		$	(383.2	)
Other comprehensive income/(loss) before reclassification adjustments	52.8			(12.8		)	—				40.0
Tax effect	—			3.5			—				3.5
Reclassification adjustments to net earnings	—			—			2.3			(B)	2.3
Tax effect	—			—			(0.9		)		(0.9		)
Balance at September 30, 2017	$	(182.0	)	$	59.0		$	(215.3	)		$	(338.3	)

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

(B) Reclassification adjustments out of AOCI are included in net pension expense (see Note 12).

Interim Financial Data by Segment

3 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Interim Financial Data by Segment

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. The primary components of the “Other” segment are non-recurring gains and losses, miscellaneous processing services, the elimination of intercompany transactions, interest expense, and certain charges and expenses that have not been allocated to the reportable segments. 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. Beginning in the first quarter of fiscal 2019, the Company's chief operating decision maker ("CODM") reviews segment results reported at actual interest rates and the results of the PEO segment inclusive of the results of ADP Indemnity. Additionally, the CODM reviews results with changes to certain corporate allocations. These changes represent a change in the measure of segment performance. Effective July 1, 2018, the Company adopted ASC 606 (see Note 2). The segment results in the table below reflect the impacts of adoption of ASC 606, the inclusion of client funds interest in the segments at actual interest rates, the inclusion of ADP Indemnity in the PEO segment, and changes to certain corporate allocations. The Company reflects these new segment measures beginning in the first quarter of fiscal 2019 and prior period segment results are restated for comparability.

Segment Results:



	Revenues
	Three Months Ended
	September 30,
	2018			2017
Employer Services	$	2,338.2		$	2,179.4
PEO Services	987.8			899.8
Other	(2.8		)	(2.0		)
	$	3,323.2		$	3,077.2



	Earnings before Income Taxes
	Three Months Ended
	September 30,
	2018			2017
Employer Services	$	637.6		$	537.2
PEO Services	145.9			123.3
Other	(136.7		)	(95.6		)
	$	646.8		$	564.9

Subsequent Events	3 Months Ended
Subsequent Events	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events

New Accounting Pronouncements (Tables)

3 Months Ended

Sep. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles



	Three Months Ended
	September 30, 2017
	As reported			Adjustments ASC 606			Adjustments ASU 2017-07			As adjusted
Revenues, other than interest on funds held for clients and PEO revenues	$	2,080.9		$	(2.0	)	$	—		$	2,078.9
Interest on funds held for clients	99.4			—			—			99.4
PEO revenues	898.5			0.4			—			898.9
TOTAL REVENUES	3,078.8			(1.6		)	—			3,077.2
Operating expenses	1,646.9			(25.3		)	9.3			1,630.7
Systems development and programming costs	156.9			—			1.3			158.2
Depreciation and amortization	62.6			—			—			62.6
Selling, general, and administrative expenses	662.4			7.0			5.9			675.4
Interest expense	28.0			—			—			28.0
Total Expenses	2,556.8			(18.3		)	16.5			2,554.9
Other income, net	(26.2		)	—			(16.5		)	(42.6		)
EARNINGS BEFORE INCOME TAXES	548.2			16.7			—			564.9
Provision for income taxes	146.7			5.6			—			152.3
NET EARNINGS	$	401.5		$	11.1		$	—		$	412.6

Consolidated Balance Sheets



	June 30,					June 30,
	2018		Adjustments ASC 606			2018
	As reported		Adjustments ASC 606			As adjusted
Assets
Current assets:
Other current assets	$	758.0	$	(226.7	)	$	531.3
Total current assets	32,050.0		(226.7		)	31,823.3
Deferred contract costs	—		2,377.4			2,377.4
Other assets	1,089.6		(390.3		)	699.3
Total assets	$	37,088.7	$	1,760.4		$	38,849.1

Liabilities and Stockholders' Equity
Current liabilities:
Short-term deferred revenues	226.5		(0.8		)	225.7
Total current liabilities	30,413.6		(0.8		)	30,412.7
Deferred income taxes	107.3		414.7			522.0
Long-term deferred revenues	377.8		70.2			448.1
Total liabilities	33,629.1		484.1			34,113.2

Stockholders' equity:
Retained earnings	15,271.3		1,275.3			16,546.6
Total stockholders’ equity	3,459.6		1,276.3			4,735.9
Total liabilities and stockholders’ equity	$	37,088.7	$	1,760.4		$	38,849.1

Statements of Consolidated Cash Flows



	Three Months Ended
	September 30,
	2017			Adjustments ASC 606			2017
	As reported			Adjustments ASC 606			As adjusted
Cash Flows from Operating Activities:
Net earnings	$	401.5		$	11.1		$	412.6
Adjustments to reconcile net earnings to cash flows provided by operating activities:
Amortization of deferred contract costs	—			204.7			204.7
Deferred income taxes	46.4			9.0			55.4
Changes in operating assets and liabilities, net of effects from acquisitions:
Increase in other assets	(259.5		)	(201.2		)	(460.7		)
Decrease in accrued expenses and other liabilities	4.6			(23.6		)	(19.0		)
Net cash flows provided by operating activities	$	244.7		$	—		$	244.7

Recently Issued Accounting Pronouncements

The following table summarizes recent ASU's issued by the Financial Accounting Standards Board ("FASB") that could have a material impact on the Company's consolidated results of operations, financial condition, or cash flows.



Standard	Description	Effective Date	Effect on Financial Statements or Other Significant Matters
ASU 2018-15 Intangibles - Goodwill and Other-Internal-Use Software	This update clarifies the accounting and capitalization of implementation costs in cloud computing arrangements that are service arrangements. The amendments in ASU 2018-15 are required to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption.	For fiscal years beginning after December 15, 2019. Early adoption is permitted.	The Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.
ASU 2018-14 Compensation-Retirement Benefits-Defined Benefit Plans	This update modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing and adding certain disclosures for these plans. The eliminated disclosures include (a) the amounts in accumulated other comprehensive income expected to be recognized in net periodic benefit costs over the next fiscal year, and (b) the effects of a one percentage point change in assumed health care cost trend rates on the net periodic benefit costs and the benefit obligation for post-retirement health care benefits. Additional disclosures include descriptions of significant gains and losses affecting the benefit obligation for the period. The amendments in ASU 2018-14 would need to be applied on a retrospective basis.	For fiscal years beginning after December 15, 2020. Early adoption is permitted.	The adoption of this guidance will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.



Standard	Description	Effective Date	Effect on Financial Statements or Other Significant Matters
ASU 2018-13 Fair Value Measurement	This update modifies the disclosure requirements on fair value measurements. Certain disclosures in ASU 2018-13 would need to be applied on a retrospective basis and others on a prospective basis.	For fiscal years beginning after December 15, 2019. Early adoption is permitted.	The adoption of this guidance will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows.
ASU 2018-09 Codification Improvements	This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification. The transition guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective immediately. However, many of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2018.	The transition and effective date guidance is based on the facts and circumstances of each amendment.	Clarifications which were effective immediately were not applicable and for other amendments the Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.
ASU 2016-02 Leases (Topic 842)	This update amends the existing accounting standards for lease accounting, and requires lessees to recognize most lease assets and lease liabilities on the balance sheet and to disclose key information about leasing arrangements. This ASU requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application.	For fiscal years beginning after December 15, 2018. Early adoption is permitted.	The Company will adopt ASU 2016-02 beginning on July 1, 2019. The Company has not yet determined the impact of this ASU on its consolidated results of operations, financial condition, or cash flows.

Revenue (Tables)

3 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables provide details of revenue by our strategic pillars with disaggregation for PEO benefits pass-throughs and client fund interest, and includes a reconciliation to the Company’s reportable segments (in millions):



	Three Months Ended
	September 30,
Types of Revenues	2018		2017
HCM	$	1,520.3	$	1,424.1
HRO, excluding PEO benefits pass-throughs	557.5		509.1
PEO benefits pass-throughs	653.4		595.3
Global	473.5		449.3
Client Fund Interest	118.5		99.4
Total Revenues	$	3,323.2	$	3,077.2

Reconciliation of disaggregated revenue to our reportable segments for September 30, 2017:



Types of Revenues	Employer Services		PEO		Other			Total
HCM	$	1,425.0	$	—	$	(0.9	)	$	1,424.1
HRO, excluding PEO benefits pass-throughs	206.6		303.6		(1.1		)	509.1
PEO benefits pass-throughs	—		595.3		—			595.3
Global	449.3		—		—			449.3
Client Fund Interest	98.5		0.9		—			99.4
Total Segment Revenues	$	2,179.4	$	899.8	$	(2.0	)	$	3,077.2

Reconciliation of disaggregated revenue to our reportable segments for September 30, 2018:



Types of Revenues	Employer Services		PEO		Other			Total
HCM	$	1,521.8	$	—	$	(1.5	)	$	1,520.3
HRO, excluding PEO benefits pass-throughs	226.1		332.7		(1.3		)	557.5
PEO benefits pass-throughs	—		653.4		—			653.4
Global	473.5		—		—			473.5
Client Fund Interest	116.8		1.7		—			118.5
Total Segment Revenues	$	2,338.2	$	987.8	$	(2.8	)	$	3,323.2

Contract with Customer, Liability

Changes in deferred revenue related to set up fees for the three months ended September 30, 2018 were as follows:



Contract Liability
Contract liability, July 1, 2018	$	607.5
Recognition of revenue included in beginning of year contract liability	(47.4		)
Contract liability, net of revenue recognized on contracts during the period	30.8
Currency adjustments	(5.8		)
Contract liability, September 30, 2018	$	585.1

Capitalized Contract Cost

The balance is as follows:



	September 30,
	2018
Deferred costs to obtain a contract	$	1,445.7
Deferred costs to fulfill a contract	906.6
Total deferred contract costs (1)	$	2,352.3

(1) The amount of total deferred costs amortized during the three months ended September 30, 2018 and for the three months ended September 30, 2017 were $216.9 million and $204.7 million

Acquisitions (Tables)

3 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of Business Combination

The final purchase price allocation for GCC is as follows:



Goodwill	$	406.1
Identifiable intangible assets	132.5
Other assets	0.8
Total assets acquired	$	539.4

Total liabilities assumed	$	48.4

Service Alignment Initiative (Tables)

3 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The table below summarizes the composition of the Company's Service Alignment Initiative (reversals)/charges:



	Three Months Ended						Cumulative amount from inception through
	September 30,						September 30,
	2018			2017			2018
Employee separation benefits (a)	$	(5.2	)	$	(5.2	)	$	94.3
Other initiative costs (b)	0.8			1.9			11.8
Total (c)	$	(4.4	)	$	(3.3	)	$	106.1

(a) - (Reversals)/charges are recorded in selling, general and administrative expenses on the Statements of Consolidated Earnings.

(b) - Other initiative costs include costs to relocate certain current Company employees to new locations, lease termination charges (both included within selling, general and administrative expenses on the Statements of Consolidated Earnings), and accelerated depreciation on fixed assets (included within depreciation and amortization on the Statements of Consolidated Earnings).

(c) - All charges are included within the Other segment.

Activity for the Service Alignment Initiative liability for the three months ended September 30, 2018 and September 30, 2017, respectively, was as follows:



	Employee separation benefits			Other initiative costs			Total
Balance at June 30, 2018	$	54.0		$	0.5		$	54.5
Charged to expense	4.1			0.8			4.9
Reversals	(9.3		)	—			(9.3		)
Cash payments	(11.1		)	(0.4		)	(11.5		)
Non-cash utilization	—			(0.3		)	(0.3		)
Balance at September 30, 2018	$	37.7		$	0.6		$	38.3

Balance at June 30, 2017	$	73.9		$	0.5		$	74.4
Charged to expense	0.8			1.9			2.7
Reversals	(6.0		)	—			(6.0		)
Cash payments	(9.4		)	(1.2		)	(10.6		)
Non-cash utilization	—			(0.6		)	(0.6		)
Balance at September 30, 2017	$	59.3		$	0.6		$	59.9

Earnings per Share (“EPS”) (Tables)

3 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted



	Basic		Effect of Employee Stock Option Shares	Effect of Employee Restricted Stock Shares	Diluted
Three Months Ended September 30, 2018
Net earnings	$	505.4			$	505.4
Weighted average shares (in millions)	436.8		1.4	1.7	439.9
EPS	$	1.16			$	1.15
Three Months Ended September 30, 2017
Net earnings	$	412.6			$	412.6
Weighted average shares (in millions)	442.2		1.0	1.8	445.0
EPS	$	0.93			$	0.93

Other Income, Net (Tables)

3 Months Ended

Sep. 30, 2018

Other Income and Expenses [Abstract]

Other Income, net



	Three Months Ended
	September 30,
	2018			2017
Interest income on corporate funds	$	(28.5	)	$	(25.8	)
Realized gains on available-for-sale securities	(0.4		)	(0.3		)
Realized losses on available-for-sale securities	1.3			0.3
Impairment of intangible assets	12.1			—
Gain on sale of assets	—			(0.4		)
Non-service components of pension expense, net (see Note 2)	1.6			(16.4		)
Other income, net	$	(13.9	)	$	(42.6	)

Corporate Investments and Funds Held For Clients (Tables)

3 Months Ended

Sep. 30, 2018

Corporate Investments And Funds Held For Clients [Abstract]

Available-for-sale Securities

Corporate investments and funds held for clients at September 30, 2018 and June 30, 2018 were as follows:



	September 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value (A)
Type of issue:
Money market securities, cash and other cash equivalents	$	4,408.3	$	—	$	—		$	4,408.3
Available-for-sale securities:
Corporate bonds	9,999.1		15.2		(167.2		)	9,847.1
Asset-backed securities	4,540.6		0.1		(66.2		)	4,474.5
U.S. government agency securities	2,738.9		2.6		(53.2		)	2,688.3
U.S. Treasury securities	2,741.8		0.1		(90.4		)	2,651.5
Canadian government obligations and Canadian government agency obligations	1,132.0		0.3		(24.7		)	1,107.6
Canadian provincial bonds	767.2		3.6		(9.4		)	761.4
Municipal bonds	579.2		1.7		(6.3		)	574.6
Other securities	854.0		1.8		(13.2		)	842.6

Total available-for-sale securities	23,352.8		25.4		(430.6		)	22,947.6

Total corporate investments and funds held for clients	$	27,761.1	$	25.4	$	(430.6	)	$	27,355.9

(A) Included within available-for-sale securities are corporate investments with fair values of $462.9 million and funds held for clients with fair values of $22,484.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.



	June 30, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value (B)
Type of issue:
Money market securities, cash and other cash equivalents	$	6,542.1	$	—	$	—		$	6,542.1
Available-for-sale securities:
Corporate bonds	9,819.4		20.3		(160.9		)	9,678.8
Asset-backed securities	4,555.5		0.3		(64.1		)	4,491.7
U.S. government agency securities	2,787.0		4.0		(47.7		)	2,743.3
U.S. Treasury securities	2,678.9		0.4		(76.9		)	2,602.4
Canadian government obligations and Canadian government agency obligations	1,109.0		0.4		(20.6		)	1,088.8
Canadian provincial bonds	724.5		5.1		(7.4		)	722.2
Municipal bonds	584.6		3.2		(4.3		)	583.5
Other securities	873.0		3.0		(10.5		)	865.5

Total available-for-sale securities	23,131.9		36.7		(392.4		)	22,776.2

Total corporate investments and funds held for clients	$	29,674.0	$	36.7	$	(392.4	)	$	29,318.3

(B) Included within available-for-sale securities are corporate investments with fair values of $10.5 million and funds held for clients with fair values of $22,765.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

Available-for-sale Securities, Continuous 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 September 30, 2018, are as follows:



	September 30, 2018
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(105.1	)	$	6,919.2	$	(62.1	)	$	1,598.9	$	(167.2	)	$	8,518.1
Asset-backed securities	(39.2		)	2,907.1		(27.0		)	1,544.5		(66.2		)	4,451.6
U.S. government agency securities	(18.8		)	1,312.2		(34.4		)	1,148.9		(53.2		)	2,461.1
U.S. Treasury securities	(20.1		)	847.6		(70.3		)	1,787.6		(90.4		)	2,635.2
Canadian government obligations and Canadian government agency obligations	(24.7		)	1,071.4		—			1.1		(24.7		)	1,072.5
Canadian provincial bonds	(8.3		)	459.7		(1.1		)	50.2		(9.4		)	509.9
Municipal bonds	(5.4		)	391.7		(0.9		)	19.7		(6.3		)	411.4
Other securities	(9.1		)	570.8		(4.1		)	120.6		(13.2		)	691.4
	$	(230.7	)	$	14,479.7	$	(199.9	)	$	6,271.5	$	(430.6	)	$	20,751.2

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, 2018, are as follows:



	June 30, 2018
	Securities in Unrealized Loss Position Less Than 12 Months					Securities in Unrealized Loss Position Greater Than 12 Months					Total
	Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	(118.2	)	$	7,132.9	$	(42.7	)	$	994.2	$	(160.9	)	$	8,127.1
Asset-backed securities	(47.4		)	3,515.9		(16.7		)	867.7		(64.1		)	4,383.6
U.S. government agency securities	(31.2		)	2,013.8		(16.5		)	431.1		(47.7		)	2,444.9
U.S. Treasury securities	(46.9		)	1,676.8		(30.0		)	864.0		(76.9		)	2,540.8
Canadian government obligations and Canadian government agency obligations	(20.6		)	1,020.3		—			—		(20.6		)	1,020.3
Canadian provincial bonds	(6.3		)	387.7		(1.1		)	50.4		(7.4		)	438.1
Municipal bonds	(3.6		)	285.8		(0.7		)	16.0		(4.3		)	301.8
Other securities	(9.2		)	573.3		(1.3		)	33.4		(10.5		)	606.7
	$	(283.4	)	$	16,606.5	$	(109.0	)	$	3,256.8	$	(392.4	)	$	19,863.3

Classification Of Corporate Investments On The Consolidated Balance Sheets

Classification of corporate investments on the Consolidated Balance Sheets is as follows:



	September 30,		June 30,
	2018		2018
Corporate investments:
Cash and cash equivalents	$	1,490.3	$	2,170.0
Short-term marketable securities (a)	127.1		3.3
Long-term marketable securities (b)	335.8		7.2
Total corporate investments	$	1,953.2	$	2,180.5

Schedule Of Investment Of Funds Held For Clients

Funds held for clients have been invested in the following categories:



	September 30,		June 30,
	2018		2018
Funds held for clients:
Restricted cash and cash equivalents held to satisfy client funds obligations	$	2,918.0	$	4,372.1
Restricted short-term marketable securities held to satisfy client funds obligations	3,491.0		2,521.4
Restricted long-term marketable securities held to satisfy client funds obligations	18,993.7		20,244.3
Total funds held for clients	$	25,402.7	$	27,137.8

Expected Maturities Of Available-For-Sale Securities

Expected maturities of available-for-sale securities at September 30, 2018 are as follows:



One year or less	$	3,618.0
One year to two years	4,663.9
Two years to three years	5,684.7
Three years to four years	4,044.8
After four years	4,936.2
Total available-for-sale securities	$	22,947.6

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles Assets, net (Tables)

3 Months Ended

Sep. 30, 2018

Changes In Goodwill

Changes in goodwill for the three months ended September 30, 2018 are as follows:



	Employer Services			PEO Services		Total
Balance at June 30, 2018	$	2,238.7		$	4.8	$	2,243.5
Additions and other adjustments	88.4			—		88.4
Currency translation adjustments	(6.9		)	—		(6.9		)
Balance at September 30, 2018	$	2,320.2		$	4.8	$	2,325.0

Components Of Finite-Lived Intangible Assets

Components of intangible assets, net, are as follows:



	September 30,			June 30,
	2018			2018
Intangible assets:
Software and software licenses	$	2,358.8		$	2,292.9
Customer contracts and lists	716.7			708.6
Other intangibles	237.9			236.5
	3,313.4			3,238.0
Less accumulated amortization:
Software and software licenses	(1,643.2		)	(1,606.6		)
Customer contracts and lists	(539.9		)	(533.4		)
Other intangibles	(213.1		)	(211.6		)
	(2,396.2		)	(2,351.6		)
Intangible assets, net	$	917.2		$	886.4

Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expenses of the Company's existing intangible assets are as follows:



	Amount
Nine months ending June 30, 2019	$	188.5
Twelve months ending June 30, 2020	$	213.2
Twelve months ending June 30, 2021	$	164.9
Twelve months ending June 30, 2022	$	120.0
Twelve months ending June 30, 2023	$	99.5
Twelve months ending June 30, 2024	$	47.1

Long-term Debt (Tables)

3 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The principal amounts and associated effective interest rates of the Notes and other debt as of September 30, 2018 and June 30, 2018, are as follows:



Debt instrument	Effective Interest Rate	September 30, 2018			June 30, 2018
Fixed-rate 2.250% notes due September 15, 2020	2.37%	$	1,000.0		$	1,000.0
Fixed-rate 3.375% notes due September 15, 2025	3.47%	1,000.0			1,000.0
Other		12.5			13.0
		2,012.5			2,013.0
Less: current portion		(2.5		)	(2.5		)
Less: unamortized discount and debt issuance costs		(7.6		)	(8.1		)
Total long-term debt		$	2,002.4		$	2,002.4

Employee Benefit Plans (Tables)

3 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Components Of Stock-Based Compensation Expense

The following table represents stock-based compensation expense for the three months ended September 30, 2018 and 2017, respectively:



	Three Months Ended
	September 30,
	2018		2017
Operating expenses	$	5.4	$	5.2
Selling, general and administrative expenses	28.0		28.6
System development and programming costs	5.0		5.2
Total stock-based compensation expense	$	38.4	$	39.0

Changes in Stock Options Outstanding

During the three months ended September 30, 2018, 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, 2018	3,983		$	87
Options granted	836		$	147
Options exercised	(284	)	$	78
Options canceled/forfeited	(12	)	$	106
Options outstanding at September 30, 2018	4,523		$	98

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, 2018	1,598		345
Restricted shares/units granted	575		141
Restricted shares/units vested	(759	)	(169	)
Restricted shares/units forfeited	(24	)	(9	)
Restricted shares/units outstanding at September 30, 2018	1,390		308

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, 2018	302		789
Restricted shares/units granted	123		333
Restricted shares/units vested	(151	)	(283	)
Restricted shares/units forfeited	(6	)	(3	)
Restricted shares/units outstanding at September 30, 2018	268		836

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value for stock options granted was estimated at the date of grant using the following assumptions:



	Three Months Ended
	September 30,
	2018			2017
Risk-free interest rate	2.7		%	1.8		%
Dividend yield	1.9		%	2.1		%
Weighted average volatility factor	20.9		%	21.7		%
Weighted average expected life (in years)	5.4			5.4
Weighted average fair value (in dollars)	$	26.60		$	17.50

Schedule of Net Benefit Costs

The components of net pension expense were as follows:



	Three Months Ended
	September 30,
	2018			2017
Service cost – benefits earned during the period	$	14.9		$	18.6
Interest cost on projected benefits	19.7			16.3
Expected return on plan assets	(32.9		)	(34.3		)
Net amortization and deferral	0.1			2.1
Settlement charges and special termination benefits	15.3			—
Net pension expense	$	17.1		$	2.7

Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") (Tables)

3 Months Ended

Sep. 30, 2018

Reclassification out of Accumulated Other Comprehensive Income [Abstract]

Reclassification out of Accumulated Other Comprehensive Income

Changes in AOCI by component are as follows:



	Three Months Ended
	September 30, 2018
	Currency Translation Adjustment			Net Gains/Losses on Available-for-sale Securities				Pension Liability				Accumulated Other Comprehensive Loss
Balance at June 30, 2018	$	(227.0	)	$	(274.0	)		$	(178.8	)		$	(679.8	)
Other comprehensive loss before reclassification adjustments	(22.9		)	(50.4		)		—				(73.3		)
Tax effect	—			12.3				—				12.3
Reclassification adjustments to net earnings	—			0.9			(A)	0.2			(B)	1.1
Tax effect	—			(0.2		)		(0.2		)		(0.4		)
Balance at September 30, 2018	$	(249.9	)	$	(311.4	)		$	(178.8	)		$	(740.1	)



	Three Months Ended
	September 30, 2017
	Currency Translation Adjustment			Net Gains/Losses on Available-for-sale Securities			Pension Liability				Accumulated Other Comprehensive Loss
Balance at June 30, 2017	$	(234.8	)	$	68.3		$	(216.7	)		$	(383.2	)
Other comprehensive income/(loss) before reclassification adjustments	52.8			(12.8		)	—				40.0
Tax effect	—			3.5			—				3.5
Reclassification adjustments to net earnings	—			—			2.3			(B)	2.3
Tax effect	—			—			(0.9		)		(0.9		)
Balance at September 30, 2017	$	(182.0	)	$	59.0		$	(215.3	)		$	(338.3	)

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

(B) Reclassification adjustments out of AOCI are included in net pension expense (see Note 12).

Interim Financial Data by Segment (Tables)

3 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment Results:



	Revenues
	Three Months Ended
	September 30,
	2018			2017
Employer Services	$	2,338.2		$	2,179.4
PEO Services	987.8			899.8
Other	(2.8		)	(2.0		)
	$	3,323.2		$	3,077.2



	Earnings before Income Taxes
	Three Months Ended
	September 30,
	2018			2017
Employer Services	$	637.6		$	537.2
PEO Services	145.9			123.3
Other	(136.7		)	(95.6		)
	$	646.8		$	564.9

New Accounting Pronouncements (Details) - USD ($)
$ in Millions

3 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Jun. 30, 2018

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other current assets

$ 846.5

$ 531.3

2,690.3

$ 2,554.9

Revenues, other than interest on funds held for clients and PEO revenues

(13.9)

(42.6)

2,218.6

2,078.9

Amortization of deferred contract costs

216.9

204.7

Increase (Decrease) in Other Operating Assets

26.4

55.4

(471.2)

(460.7)

Decrease in accrued expenses and other liabilities

(77.8)

(19.0)

Net cash flows provided by operating activities

149.2

244.7

118.5

99.4

^[1]

986.1

898.9

3,323.2

3,077.2

1,709.9

1,630.7

158.0

158.2

72.6

62.6

713.9

675.4

35.9

28.0

646.8

564.9

141.4

152.3

Short-term deferred revenues

505.4

412.6

Assets, Current

29,955.9

31,823.3

Deferred contract costs

2,352.3

2,377.4

Other assets

1,053.4

699.3

Assets

37,416.7

38,849.1

229.0

225.7

Liabilities, Current

29,037.3

30,412.7

Other liabilities

736.4

728.0

Long-term deferred revenues

533.2

522.0

428.6

448.1

Liabilities

32,737.9

34,113.2

Retained earnings

16,741.1

16,546.6

Stockholders' Equity Attributable to Parent

4,678.8

4,735.9

Liabilities and Equity

$ 37,416.7

38,849.1

Scenario, Previously Reported

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other current assets

758.0

2,556.8

Revenues, other than interest on funds held for clients and PEO revenues

(26.2)

2,080.9

Amortization of deferred contract costs

0.0

Increase (Decrease) in Other Operating Assets

46.4

(259.5)

Decrease in accrued expenses and other liabilities

4.6

Net cash flows provided by operating activities

244.7

99.4

898.5

3,078.8

1,646.9

156.9

62.6

662.4

28.0

548.2

146.7

Short-term deferred revenues

401.5

Assets, Current

32,050.0

Deferred contract costs

0.0

Other assets

1,089.6

Assets

37,088.7

226.5

Liabilities, Current

30,413.6

Long-term deferred revenues

107.3

377.8

Liabilities

33,629.1

Retained earnings

15,271.3

Stockholders' Equity Attributable to Parent

3,459.6

Liabilities and Equity

37,088.7

ASU 2017-07 | Restatement Adjustment

Error Corrections and Prior Period Adjustments Restatement [Line Items]

16.5

Revenues, other than interest on funds held for clients and PEO revenues

(16.5)

0.0

0.0

0.0

0.0

9.3

1.3

0.0

5.9

0.0

0.0

0.0

ASC 606 Adjustments | Restatement Adjustment

0.0

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Other current assets

(226.7)

(18.3)

Revenues, other than interest on funds held for clients and PEO revenues

0.0

(2.0)

Amortization of deferred contract costs

204.7

Increase (Decrease) in Other Operating Assets

9.0

(201.2)

Decrease in accrued expenses and other liabilities

(23.6)

Net cash flows provided by operating activities

0.0

0.0

0.4

(1.6)

(25.3)

0.0

0.0

7.0

0.0

16.7

5.6

Short-term deferred revenues

$ 11.1

Assets, Current

(226.7)

Deferred contract costs

2,377.4

Other assets

(390.3)

Assets

1,760.4

(0.8)

Liabilities, Current

(0.8)

Long-term deferred revenues

414.7

70.2

Liabilities

484.1

Retained earnings

1,275.3

Stockholders' Equity Attributable to Parent

1,276.3

Liabilities and Equity

$ 1,760.4

[1]	Professional Employer Organization (“PEO”) revenues are net of direct pass-through costs, primarily consisting of payroll wages and payroll taxes of $9,629.4 million and $8,738.5 million for the three months ended September 30, 2018 and 2017, respectively.

Revenue (Narrative) (Details)	3 Months Ended
Revenue (Narrative) (Details)	Sep. 30, 2018
Schedule Of Revenue From Contract With Customer Periods [Line Items]
Contract liability, recognition period	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.
Capitalized costs, fulfillment period	The expected client relationship period ranges from three to eight years.
Minimum
Schedule Of Revenue From Contract With Customer Periods [Line Items]
Service agreement, term	30 days
Maximum
Schedule Of Revenue From Contract With Customer Periods [Line Items]
Service agreement, term	5 years

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 3,323.2	$ 3,077.2
Employer Services
Disaggregation of Revenue [Line Items]
Revenues	2,338.2	2,179.4
PEO
Disaggregation of Revenue [Line Items]
Revenues	987.8	899.8
Other
Disaggregation of Revenue [Line Items]
Revenues	(2.8)	(2.0)
HCM
Disaggregation of Revenue [Line Items]
Revenues	1,520.3	1,424.1
HCM \| Employer Services
Disaggregation of Revenue [Line Items]
Revenues	1,521.8	1,425.0
HCM \| PEO
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
HCM \| Other
Disaggregation of Revenue [Line Items]
Revenues	(1.5)	(0.9)
HRO, excluding PEO benefits pass-throughs
Disaggregation of Revenue [Line Items]
Revenues	557.5	509.1
HRO, excluding PEO benefits pass-throughs \| Employer Services
Disaggregation of Revenue [Line Items]
Revenues	226.1	206.6
HRO, excluding PEO benefits pass-throughs \| PEO
Disaggregation of Revenue [Line Items]
Revenues	332.7	303.6
HRO, excluding PEO benefits pass-throughs \| Other
Disaggregation of Revenue [Line Items]
Revenues	(1.3)	(1.1)
PEO Benefits Pass-throughs
Disaggregation of Revenue [Line Items]
Revenues	653.4	595.3
PEO Benefits Pass-throughs \| Employer Services
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
PEO Benefits Pass-throughs \| PEO
Disaggregation of Revenue [Line Items]
Revenues	653.4	595.3
PEO Benefits Pass-throughs \| Other
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Global
Disaggregation of Revenue [Line Items]
Revenues	473.5	449.3
Global \| Employer Services
Disaggregation of Revenue [Line Items]
Revenues	473.5	449.3
Global \| PEO
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Global \| Other
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0
Client Fund Interest
Disaggregation of Revenue [Line Items]
Revenues	118.5	99.4
Client Fund Interest \| Employer Services
Disaggregation of Revenue [Line Items]
Revenues	116.8	98.5
Client Fund Interest \| PEO
Disaggregation of Revenue [Line Items]
Revenues	1.7	0.9
Client Fund Interest \| Other
Disaggregation of Revenue [Line Items]
Revenues	$ 0.0	$ 0.0

Revenue (Contract Liability) (Details) $ in Millions	3 Months Ended
Revenue (Contract Liability) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Change In Contract With Customer, Liability [Roll Forward]
Contract liability, July 1, 2018	$ 607.5
Recognition of revenue included in beginning of year contract liability	(47.4)
Contract liability, net of revenue recognized on contracts during the period	30.8
Currency adjustments	(5.8)
Contract liability, September 30, 2018	$ 585.1

Revenue (Deferred Costs) (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Deferred Costs) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 2,352.3		$ 2,377.4
Amortization of deferred contract costs	216.9	$ 204.7
Deferred costs to obtain a contract
Capitalized Contract Cost [Line Items]
Deferred contract costs	1,445.7
Deferred costs to fulfill a contract
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 906.6

Acquisitions (Details) - USD ($) $ in Millions	1 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Jul. 31, 2018	Jan. 31, 2018	Oct. 31, 2017	Sep. 30, 2018	Jul. 30, 2018	Jun. 30, 2018
The preliminary purchase price allocation for GCC is as follows:
Goodwill				$ 2,325.0		$ 2,243.5
Global Cash Card, Inc.
Business Acquisition [Line Items]
Date of acquisition agreement			Oct. 05, 2017
Percentage of shares acquired			100.00%
Acquisition price			$ 490.0
Acquired finite-lived intangible assets, weighted average useful life			8 years
The preliminary purchase price allocation for GCC is as follows:
Goodwill			$ 406.1
Identifiable intangible assets			132.5
Other assets			0.8
Total assets acquired			539.4
Total liabilities assumed			$ 48.4
Word Market, Inc.
Business Acquisition [Line Items]
Date of acquisition agreement		Jan. 19, 2018
Percentage of shares acquired		100.00%
Acquisition price		$ 125.0
Celergo Holdings, Inc.
Business Acquisition [Line Items]
Date of acquisition agreement	Jul. 01, 2018
Percentage of shares acquired					100.00%

Service Alignment Initiative (Details) - USD ($) $ in Millions	3 Months Ended		26 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018
Restructuring Reserve [Roll Forward]
Beginning balance	$ 54.5	$ 74.4
Charged to expense	4.9	2.7
Reversals	(9.3)	(6.0)
Restructuring charges, net of reversals	(4.4)	(3.3)
Cumulative amount from inception through			$ 106.1
Cash payments	(11.5)	(10.6)
Non-cash utilization	(0.3)	(0.6)
Ending balance	38.3	59.9	38.3
Employee separation benefits
Restructuring Reserve [Roll Forward]
Beginning balance	54.0	73.9
Charged to expense	4.1	0.8
Reversals	(9.3)	(6.0)
Restructuring charges, net of reversals	(5.2)	(5.2)
Cumulative amount from inception through			94.3
Cash payments	(11.1)	(9.4)
Non-cash utilization	0.0	0.0
Ending balance	37.7	59.3	37.7
Other initiative costs
Restructuring Reserve [Roll Forward]
Beginning balance	0.5	0.5
Charged to expense	0.8	1.9
Reversals	0.0	0.0
Restructuring charges, net of reversals	0.8	1.9
Cumulative amount from inception through			11.8
Cash payments	(0.4)	(1.2)
Non-cash utilization	(0.3)	(0.6)
Ending balance	$ 0.6	$ 0.6	$ 0.6

Earnings per Share (“EPS”) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net earnings	$ 505.4	$ 412.6
Basic weighted average shares outstanding (shares)	436.8	442.2
Effect of Employee Stock Option Shares (shares)	1.4	1.0
Effect of Employee Restricted Stock Shares (shares)	1.7	1.8
Diluted weighted average shares outstanding (shares)	439.9	445.0
Basic EPS from continuing operations (in US$ per share)	$ 1.16	$ 0.93
Diluted EPS from continuing operations (in US$ per share)	$ 1.15	$ 0.93
Options excluded from the calculation of diluted earnings per share (shares)	0.3	0.4

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Schedule of Available-for-sale Securities [Line Items]

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
Other Income, Net (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Other Income and Expenses [Abstract]
Gain (Loss) on Disposition of Assets	$ 0.0	$ 0.4
Interest income on corporate funds	(28.5)	(25.8)
Realized gains on available-for-sale securities	(0.4)	(0.3)
Realized losses on available-for-sale securities	1.3	0.3
Impairment of intangible assets	12.1	0.0
Non-service components of pension expense, net (see Note 2)	1.6	(16.4)
Other income, net	$ (13.9)	$ (42.6)

Other Income, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Non-Service Component [Line Items]
Impairment of intangible assets	$ 12.1	$ 0.0
Non-cash Settlement Charges
Schedule Of Non-Service Component [Line Items]
VERP Expenses	14.0
Special Termination Benefits
Schedule Of Non-Service Component [Line Items]
VERP Expenses	(1.3)
Other Components
Schedule Of Non-Service Component [Line Items]
Other components of net periodic pension cost	$ (13.7)

Corporate Investments and Funds Held For Clients (Corporate Investments And Funds Held For Clients) (Details) - USD ($)
$ in Millions

Sep. 30, 2018

Jun. 30, 2018

Money market securities and other cash equivalents - Amortized Cost

$ 4,408.3

$ 6,542.1

Money market securities and other cash equivalents - Gross Unrealized Gains

0.0

Money market securities and other cash equivalents - Gross Unrealized Losses

0.0

Money market securities and other cash equivalents - Fair Market Value

4,408.3

6,542.1

Available-for-sale securities - Gross Unrealized Gains

23,352.8

23,131.9

25.4

36.7

Available-for-sale securities - Gross Unrealized Losses

(430.6)

(392.4)

Total corporate investments and funds held for clients - Amortized Cost

22,947.6

^[1]

22,776.2

^[2]

27,761.1

29,674.0

Total corporate investments and funds held for clients - Gross Unrealized Gains

25.4

36.7

Total corporate investments and funds held for clients - Gross Unrealized Losses

(430.6)

(392.4)

Total corporate investments and funds held for clients - Fair Market Value

27,355.9

29,318.3

Corporate Investments

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities [Line Items]

462.9

10.5

Funds Held For Clients

Schedule of Available-for-sale Securities [Line Items]

22,484.7

22,765.7

Corporate bonds

Available-for-sale securities - Gross Unrealized Gains

9,999.1

9,819.4

15.2

20.3

Available-for-sale securities - Gross Unrealized Losses

(167.2)

(160.9)

Schedule of Available-for-sale Securities [Line Items]

9,847.1

9,678.8

Asset-backed securities

Available-for-sale securities - Gross Unrealized Gains

4,540.6

4,555.5

0.1

0.3

Available-for-sale securities - Gross Unrealized Losses

(66.2)

(64.1)

U.S. government agency securities

4,474.5

4,491.7

Schedule of Available-for-sale Securities [Line Items]

Available-for-sale securities - Gross Unrealized Gains

2,738.9

2,787.0

2.6

4.0

Available-for-sale securities - Gross Unrealized Losses

(53.2)

(47.7)

Schedule of Available-for-sale Securities [Line Items]

2,688.3

2,743.3

U.S. Treasury securities

Available-for-sale securities - Gross Unrealized Gains

2,741.8

2,678.9

0.1

0.4

Available-for-sale securities - Gross Unrealized Losses

(90.4)

(76.9)

Canadian government obligations and Canadian government agency obligations

2,651.5

2,602.4

Schedule of Available-for-sale Securities [Line Items]

Available-for-sale securities - Gross Unrealized Gains

1,132.0

1,109.0

0.3

0.4

Available-for-sale securities - Gross Unrealized Losses

(24.7)

(20.6)

Canadian provincial bonds

1,107.6

1,088.8

Schedule of Available-for-sale Securities [Line Items]

Available-for-sale securities - Gross Unrealized Gains

767.2

724.5

3.6

5.1

Available-for-sale securities - Gross Unrealized Losses

(9.4)

(7.4)

Schedule of Available-for-sale Securities [Line Items]

761.4

722.2

Municipal bonds

Available-for-sale securities - Gross Unrealized Gains

579.2

584.6

1.7

3.2

Available-for-sale securities - Gross Unrealized Losses

(6.3)

(4.3)

Schedule of Available-for-sale Securities [Line Items]

574.6

583.5

Other securities

Available-for-sale securities - Gross Unrealized Gains

854.0

873.0

1.8

3.0

Available-for-sale securities - Gross Unrealized Losses

(13.2)

(10.5)

Schedule of Available-for-sale Securities [Line Items]

$ 842.6

$ 865.5

[1]	Included within available-for-sale securities are corporate investments with fair values of $462.9 million and funds held for clients with fair values of $22,484.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
[2]	Included within available-for-sale securities are corporate investments with fair values of $10.5 million and funds held for clients with fair values of $22,765.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

Corporate Investments and Funds Held For Clients (Available-For-Sale Securities That Have Been In An Unrealized Loss Position) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	$ (230.7)	$ (283.4)
Fair market value of securities in unrealized loss position less than 12 months	14,479.7	16,606.5
Unrealized losses greater than 12 months	(199.9)	(109.0)
Fair market value of securities in unrealized loss positions greater than 12 months	6,271.5	3,256.8
Total gross unrealized losses	(430.6)	(392.4)
Total fair market value	20,751.2	19,863.3
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(105.1)	(118.2)
Fair market value of securities in unrealized loss position less than 12 months	6,919.2	7,132.9
Unrealized losses greater than 12 months	(62.1)	(42.7)
Fair market value of securities in unrealized loss positions greater than 12 months	1,598.9	994.2
Total gross unrealized losses	(167.2)	(160.9)
Total fair market value	8,518.1	8,127.1
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(39.2)	(47.4)
Fair market value of securities in unrealized loss position less than 12 months	2,907.1	3,515.9
Unrealized losses greater than 12 months	(27.0)	(16.7)
Fair market value of securities in unrealized loss positions greater than 12 months	1,544.5	867.7
Total gross unrealized losses	(66.2)	(64.1)
Total fair market value	4,451.6	4,383.6
U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(18.8)	(31.2)
Fair market value of securities in unrealized loss position less than 12 months	1,312.2	2,013.8
Unrealized losses greater than 12 months	(34.4)	(16.5)
Fair market value of securities in unrealized loss positions greater than 12 months	1,148.9	431.1
Total gross unrealized losses	(53.2)	(47.7)
Total fair market value	2,461.1	2,444.9
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(20.1)	(46.9)
Fair market value of securities in unrealized loss position less than 12 months	847.6	1,676.8
Unrealized losses greater than 12 months	(70.3)	(30.0)
Fair market value of securities in unrealized loss positions greater than 12 months	1,787.6	864.0
Total gross unrealized losses	(90.4)	(76.9)
Total fair market value	2,635.2	2,540.8
Canadian government obligations and Canadian government agency obligations
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(24.7)	(20.6)
Fair market value of securities in unrealized loss position less than 12 months	1,071.4	1,020.3
Unrealized losses greater than 12 months	0.0	0.0
Fair market value of securities in unrealized loss positions greater than 12 months	1.1	0.0
Total gross unrealized losses	(24.7)	(20.6)
Total fair market value	1,072.5	1,020.3
Canadian provincial bonds
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(8.3)	(6.3)
Fair market value of securities in unrealized loss position less than 12 months	459.7	387.7
Unrealized losses greater than 12 months	(1.1)	(1.1)
Fair market value of securities in unrealized loss positions greater than 12 months	50.2	50.4
Total gross unrealized losses	(9.4)	(7.4)
Total fair market value	509.9	438.1
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(5.4)	(3.6)
Fair market value of securities in unrealized loss position less than 12 months	391.7	285.8
Unrealized losses greater than 12 months	(0.9)	(0.7)
Fair market value of securities in unrealized loss positions greater than 12 months	19.7	16.0
Total gross unrealized losses	(6.3)	(4.3)
Total fair market value	411.4	301.8
Other securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses less than 12 months	(9.1)	(9.2)
Fair market value of securities in unrealized loss position less than 12 months	570.8	573.3
Unrealized losses greater than 12 months	(4.1)	(1.3)
Fair market value of securities in unrealized loss positions greater than 12 months	120.6	33.4
Total gross unrealized losses	(13.2)	(10.5)
Total fair market value	$ 691.4	$ 606.7

Corporate Investments and Funds Held For Clients (Narrative) (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2018

Jun. 30, 2018

Earliest Corporate bond debt maturity date

October 2018

Latest corporate debt maturity date

September 2028

Earliest U.S. Treasury maturity date

$ 22,947.6

^[1]

$ 22,776.2

^[2]

October 2018

Latest U.S Treasury maturity date

August 2026

Client Fund obligation repayment period

1 year

Client funds obligations

$ 25,798.9

27,493.5

Client funds held in grantor trust

$ 22,994.7

24,242.9

Client funds investments with original maturities

ninety days or less

Percentage of the available-for-sale securities were rated AAA Or AA

79.00%

Federal Home Loan Banks

Schedule of Available-for-sale Securities [Line Items]

Federal Farm Credit Banks

$ 1,785.7

Schedule of Available-for-sale Securities [Line Items]

U.S. government agency securities

678.5

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities [Line Items]

125.4

Fixed Rate Credit Card

Asset-Backed Auto Loan Receivables

2,018.3

Schedule of Available-for-sale Securities [Line Items]

Asset-Backed Equipment Lease Receivable

1,799.5

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities [Line Items]

467.6

Rate Reduction

Schedule of Available-for-sale Securities [Line Items]

189.1

Supranational Bonds

Commercial Mortgage Backed Securities

195.2

Schedule of Available-for-sale Securities [Line Items]

Schedule of Available-for-sale Securities [Line Items]

307.8

Sovereign Bonds

Schedule of Available-for-sale Securities [Line Items]

109.8

Level 1

Schedule of Available-for-sale Securities [Line Items]

0.0

Level 3

$ 0.0

[1]	Included within available-for-sale securities are corporate investments with fair values of $462.9 million and funds held for clients with fair values of $22,484.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.
[2]	Included within available-for-sale securities are corporate investments with fair values of $10.5 million and funds held for clients with fair values of $22,765.7 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

Corporate Investments and Funds Held For Clients (Classification Of Corporate Investments On The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017
Corporate Investments And Funds Held For Clients [Abstract]
Cash and cash equivalents	$ 1,490.3	$ 2,170.0	$ 2,363.6
Short-term marketable securities	127.1	3.3
Long-term marketable securities	335.8	7.2
Total corporate investments	$ 1,953.2	$ 2,180.5

Corporate Investments and Funds Held For Clients (Schedule Of Investment Of Funds Held For Clients) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017
Corporate Investments And Funds Held For Clients [Abstract]
Restricted cash and cash equivalents held to satisfy client funds obligations	$ 2,918.0	$ 4,372.1	$ 3,719.6
Restricted short-term marketable securities held to satisfy client funds obligations	3,491.0	2,521.4
Restricted long-term marketable securities held to satisfy client funds obligations	18,993.7	20,244.3
Total funds held for clients	$ 25,402.7	$ 27,137.8

Investments in debt and equity securities which are categorized neither as trading securities nor held-to-maturity securities, which are intended be sold or mature within one year from the balance sheet date or the normal operating cycle, whichever is longer, and that are pledged to one or more secured parties who have the right to buy, sell, or re-pledge the collateral.

Investments in debt and equity securities which are categorized neither as trading securities nor held-to-maturity securities, which are intended be sold or mature greater than one year from the balance sheet date or the normal operating cycle, whichever is longer, and that are pledged to one or more secured parties who have the right to buy, sell, or re-pledge the collateral.

Corporate Investments and Funds Held For Clients (Expected Maturities Of Available-For-Sale Securities) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Corporate Investments And Funds Held For Clients [Abstract]
One year or less	$ 3,618.0
One year to two years	4,663.9
Two years to three years	5,684.7
Three years to four years	4,044.8
After four years	4,936.2
Total available-for-sale securities	$ 22,947.6

Goodwill and Intangibles Assets, net (Changes In Goodwill) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2018 USD ($)
Goodwill [Roll Forward]
Balance at June 30, 2018	$ 2,243.5
Additions and other adjustments	88.4
Currency translation adjustments	(6.9)
Balance at September 30, 2018	2,325.0
Employer Services
Goodwill [Roll Forward]
Balance at June 30, 2018	2,238.7
Additions and other adjustments	88.4
Currency translation adjustments	(6.9)
Balance at September 30, 2018	2,320.2
PEO Services
Goodwill [Roll Forward]
Balance at June 30, 2018	4.8
Additions and other adjustments	0.0
Currency translation adjustments	0.0
Balance at September 30, 2018	$ 4.8

Goodwill and Intangibles Assets, net (Components Of Finite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Total - gross	$ 3,313.4	$ 3,238.0
Total - accumulated amortization	(2,396.2)	(2,351.6)
Intangible assets, net	$ 917.2	886.4
Software and software licenses
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Total - gross	$ 2,358.8	2,292.9
Total - accumulated amortization	$ (1,643.2)	(1,606.6)
Customer contracts and lists
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years
Total - gross	$ 716.7	708.6
Total - accumulated amortization	$ (539.9)	(533.4)
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Total - gross	$ 237.9	236.5
Total - accumulated amortization	$ (213.1)	$ (211.6)

Goodwill and Intangibles Assets, net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Amortization of intangible assets	$ 53.4	$ 46.6
Software and software licenses
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Customer contracts and lists
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years

Goodwill and Intangibles Assets, net (Schedule Of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Nine months ending June 30, 2019	$ 188.5
Twelve months ending June 30, 2020	213.2
Twelve months ending June 30, 2021	164.9
Twelve months ending June 30, 2022	120.0
Twelve months ending June 30, 2023	99.5
Twelve months ending June 30, 2024	$ 47.1

Short-term Financing (Details) - USD ($)	3 Months Ended
Short-term Financing (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Short-term Debt [Line Items]
Short-term debt	$ 0
Commercial paper	$ 0
Maturities of short-term funding agreements	overnight to up to five business days
Obligations under reverse repurchase agreements (A)	$ 453,000,000		$ 0
364-day credit agreement
Short-term Debt [Line Items]
Maximum borrowing capacity under credit facilities	$ 3,800,000,000
Term of credit agreement	364 days
Expiration date of credit facilities	Jun. 16, 2019
Extension option term	1 year
Credit Facility Expiring In June 2022
Short-term Debt [Line Items]
Maximum borrowing capacity under credit facilities	$ 2,250,000,000
Term of credit agreement	5 years
Expiration date of credit facilities	Jun. 17, 2022
Line of credit facility potentially available increase in maximum borrowing capacity	$ 500,000,000
Credit Facility Expiring In June Two Thousand Twenty Three [Member]
Short-term Debt [Line Items]
Maximum borrowing capacity under credit facilities	$ 3,750,000,000
Term of credit agreement	5 years
Expiration date of credit facilities	Jun. 13, 2023
Line of credit facility potentially available increase in maximum borrowing capacity	$ 500,000,000
Commercial paper program
Short-term Debt [Line Items]
Short-term Debt, Maximum Borrowing Capacity	$ 9,800,000,000
Maturities of commercial paper range	overnight to up to 364 days
Short-term debt, average outstanding amount	$ 3,700,000,000	$ 3,800,000,000
Debt instrument, interest rate during period	2.00%	1.20%
Short Term Commercial Paper Program
Short-term Debt [Line Items]
Commercial paper weighted average maturity	2 days	2 days
Reverse repurchase agreements
Short-term Debt [Line Items]
Short-term debt, average outstanding amount	$ 495,100,000	$ 526,200,000
Debt instrument, interest rate during period	1.70%	1.10%

Long-term Debt (Details) - USD ($)	3 Months Ended
Long-term Debt (Details) - USD ($)	Sep. 30, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Aggregate principal amount	$ 2,000,000,000
Notes payable	2,012,500,000	$ 2,013,000,000
Less: current portion	(2,500,000)	(2,500,000)
Less: unamortized discount and debt issuance costs	(7,600,000)	(8,100,000)
Total long-term debt	2,002,400,000	2,002,400,000
Fair value of notes issued	$ 1,979,400,000
Fixed-rate 2.250% notes due September 15, 2020
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument stated rate (percent)	2.25%
Debt instrument maturity date	Sep. 15, 2020
Debt instrument effective rate (percent)	2.37%
Notes payable	$ 1,000,000,000	1,000,000,000
Fixed-rate 3.375% notes due September 15, 2025
Debt Instrument [Line Items]
Debt instrument, term	10 years
Debt instrument stated rate (percent)	3.375%
Debt instrument maturity date	Sep. 15, 2025
Debt instrument effective rate (percent)	3.47%
Notes payable	$ 1,000,000,000	1,000,000,000
Other
Debt Instrument [Line Items]
Notes payable	$ 12,500,000	$ 13,000,000

Employee Benefit Plans (Narrative) (Details) - shares shares in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Stock options - term for stock options granted, in years			10 years
Stock Repurchased During Period in Treasury, Shares	1.6	2.2
Time Based Restricted Stock granted during Fiscal 2013 [Domain]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years
Performance Based Restricted Stock and Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [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			150.00%
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Percentage of Market Value paid for Company Stock			95.00%
Minimum \| Performance Based Restricted Stock and Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Performance Period			1 year
Maximum \| Performance Based Restricted Stock and Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			38 months
Share Based Compensation Arrangement By Share Based Payment Award Performance Period			3 years

Employee Benefit Plans (Components Of Stock-Based Compensation Expense) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Risk-free interest rate	2.70%	1.80%
Dividend yield	1.90%	2.10%
Weighted average volatility factor	20.90%	21.70%
Weighted average expected life (in years)	5 years 5 months	5 years 5 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	4,523		3,983
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 98		$ 87
Options granted	836
Options granted	$ 147
Options exercised	284
Options exercised	$ 78
Options canceled/forfeited	12
Options canceled/forfeited	$ 106
Total pre-tax stock-based compensation expense	$ 38.4	$ 39.0
Weighted average fair value (in dollars)	$ 26.60	$ 17.50
Operating expenses
Defined Benefit Plan Disclosure [Line Items]
Total pre-tax stock-based compensation expense	$ 5.4	$ 5.2
Selling, general and administrative expenses
Defined Benefit Plan Disclosure [Line Items]
Total pre-tax stock-based compensation expense	28.0	28.6
System development and programming costs
Defined Benefit Plan Disclosure [Line Items]
Total pre-tax stock-based compensation expense	$ 5.0	$ 5.2
Time Based Restriced Stock granted during or after Fiscal 2019 [Domain]
Defined Benefit Plan Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Time Based Restricted Stock granted during Fiscal 2013 [Domain]
Defined Benefit Plan Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years
Nonvested Stock Options [Member]
Defined Benefit Plan Disclosure [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 29.3
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 6 months
Restricted Stock Units (RSUs) [Member]
Defined Benefit Plan Disclosure [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 83.6
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 9 months
Nonvested Restricted Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 126.7
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 1 month

Employee Benefit Plans Components of Stock Options (Details) shares in Thousands	3 Months Ended
	Sep. 30, 2018 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at July 1, 2018 \| shares	3,983
Options granted \| shares	836
Options exercised \| shares	284
Options canceled/forfeited \| shares	12
Options outstanding at September 30, 2018 \| shares	4,523
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Price [Roll Forward]
Options outstanding at July 1, 2018 \| $ / shares	$ 87
Options granted \| $ / shares	147
Options exercised \| $ / shares	78
Options canceled/forfeited \| $ / shares	106
Options outstanding at September 30, 2018 \| $ / shares	$ 98

Employee Benefit Plans Time based restricted stock units (Details) shares in Thousands	3 Months Ended
	Sep. 30, 2018 shares
Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	1,598
Restricted shares/units granted	575
Restricted shares/units vested	(759)
Restricted shares/units forfeited	(24)
Restricted shares/units outstanding at September 30, 2018	1,390
Time-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	345
Restricted shares/units granted	141
Restricted shares/units vested	(169)
Restricted shares/units forfeited	(9)
Restricted shares/units outstanding at September 30, 2018	308

Employee Benefit Plans Employee Benefit Plans (Time Based Restricted Shares and Units) (Details) shares in Thousands	3 Months Ended
	Sep. 30, 2018 shares
Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	1,598
Restricted shares/units granted	575
Restricted shares/units vested	(759)
Restricted shares/units forfeited	(24)
Restricted shares/units outstanding at September 30, 2018	1,390
Time-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	345
Restricted shares/units granted	141
Restricted shares/units vested	(169)
Restricted shares/units forfeited	(9)
Restricted shares/units outstanding at September 30, 2018	308

Employee Benefit Plans Employee Benefit Plans (Performance based restricted shares and units) (Details) shares in Thousands	3 Months Ended
	Sep. 30, 2018 shares
Performance Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	302
Restricted shares/units granted	123
Restricted shares/units vested	151
Restricted shares/units forfeited	6
Restricted shares/units outstanding at September 30, 2018	268
Performance Based Restricted Stock Unit [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares/units outstanding at July 1, 2018	789
Restricted shares/units granted	333
Restricted shares/units vested	283
Restricted shares/units forfeited	3
Restricted shares/units outstanding at September 30, 2018	836

Employee Benefit Plans Employee Benefit Plan (Assumptions Used To Estimate Fair Value For Stock Options Granted) (Details) - $ / shares	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Retirement Benefits [Abstract]
Risk-free interest rate	2.70%	1.80%
Dividend yield	1.90%	2.10%
Weighted average volatility factor	20.90%	21.70%
Weighted average expected life (in years)	5 years 5 months	5 years 5 months
Weighted average fair value (in dollars)	$ 26.60	$ 17.50

Employee Benefit Plans (Components Of Net Pension Expense) (Details) $ in Millions			3 Months Ended		9 Months Ended	12 Months Ended
	May 01, 2018	Mar. 01, 2018	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018
VERP non cash settlement [Line Items]
Associates Opting to Participate in VERP	2,200
VERP, Period of Health Care Coverage Following Retirement						24 months
Service cost – benefits earned during the period			$ 14.9	$ 18.6
Interest cost on projected benefits			19.7	16.3
Expected return on plan assets			(32.9)	(34.3)
Net amortization and deferral			0.1	2.1
Defined Benefit Plan, Benefit Obligation, Payment for Settlement			15.3	0.0
Net pension expense			17.1	$ 2.7
Voluntary early retirement program, minimum age requirement		55 years
Voluntary Early Retirement Program, Minimum Period		10 years
Voluntary early retirement program, number of eligible associates		3,500
Voluntary Early Retirement Program, Percent of Eligible Associates from Total		6.00%
VERP, charge recorded under SG&A			$ 9.3
Subsequent Event [Member]
VERP non cash settlement [Line Items]
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment					$ 15.0
VERP, Anticipated Future Charge					$ 26.0

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	21.90%	27.00%
Incomplete accounting provisional income tax one time benefit, net	$ 1.1
Undistributed accumulated earnings of foreign subsidiary, provisional unrecognized deferred tax liability			$ 19.2
Accrual On Foreign Withholding Taxes			28.3
Change in tax rate, deferred tax liability, provisional income tax expense (benefit)			253.3
Transition tax for accumulated foreign earnings, provisional income tax expense (benefit)			$ 22.2

Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") (Details) - USD ($)
$ in Millions

3 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Accumulated other comprehensive income, beginning balance

$ (679.8)

$ (383.2)

Other comprehensive (loss)/income before reclassification adjustments

(73.3)

40.0

12.3

3.5

1.1

2.3

Accumulated other comprehensive income, ending balance

(0.4)

(0.9)

(740.1)

(338.3)

Currency Translation Adjustment

Accumulated other comprehensive income, beginning balance

(227.0)

(234.8)

Other comprehensive (loss)/income before reclassification adjustments

(22.9)

52.8

0.0

0.0

Accumulated other comprehensive income, ending balance

0.0

(249.9)

(182.0)

Net Gains/Losses on Available-for-sale Securities

Accumulated other comprehensive income, beginning balance

(274.0)

68.3

Other comprehensive (loss)/income before reclassification adjustments

(50.4)

(12.8)

12.3

3.5

0.9

^[1]

0.0

Accumulated other comprehensive income, ending balance

(0.2)

0.0

(311.4)

59.0

Pension Liability

Accumulated other comprehensive income, beginning balance

(178.8)

(216.7)

Other comprehensive (loss)/income before reclassification adjustments

0.0

0.0

^[2]

0.2

2.3