← Filings of ADP
Tables in the 10-Q of AUTOMATIC DATA PROCESSING INC
67 tables with numbers, filed Jan 29, 2026. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| | Page |
| PART I – FINANCIAL INFORMATION | | |
| Item 1. | Financial Statements (Unaudited) | |
| Statements of Consolidated Earnings Three and six months ended December 31, 2025 and 2024 | 3 |
| Statements of Consolidated Comprehensive IncomeThree and six months ended December 31, 2025 and 2024 | 4 |
| Consolidated Balance SheetsAt December 31, 2025 and June 30, 2025 | 5 |
| Statements of Consolidated Cash Flows Six months ended December 31, 2025 and 2024 | 6 |
| Notes to the Consolidated Financial Statements | 7 |
First 8 of 18 rows. The CSV has all of them.
| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| REVENUES: | | | | | | |
| Revenues, other than interest on funds held for clients and PEO revenues | $3,298.3 | | $3,114.8 | | $6,501.7 | $6,122.0 |
| Interest on funds held for clients | 308.6 | | 272.8 | | 595.5 | 526.1 |
| PEO revenues (A) | 1,752.4 | | 1,660.8 | | 3,437.3 | 3,233.0 |
| TOTAL REVENUES | 5,359.3 | | 5,048.4 | | 10,534.5 | 9,881.1 |
First 8 of 25 rows. The CSV has all of them.
| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Net earnings | $1,062.0 | | $963.2 | | $2,075.1 | $1,919.5 |
| Other comprehensive income/(loss): | | | | | | |
| Currency translation adjustments | 3.9 | | (101.0) | | (11.6) | (51.8) |
| Unrealized net gains/(losses) on available-for-sale securities | 107.5 | | (423.8) | | 323.2 | 440.5 |
| Tax effect | (22.7) | | 94.2 | | (71.0) | (103.6) |
First 8 of 18 rows. The CSV has all of them.
| December 31, | June 30, | |
| 2025 | 2025 | |
| Assets | | | |
| Current assets: | | | |
| Cash and cash equivalents | $2,424.7 | | $3,347.8 |
| Short-term marketable securities (A) | 45.7 | | 4,498.8 |
| Accounts receivable, net of allowance for doubtful accounts of $47.5 and $47.1, respectively | 3,408.5 | | 3,579.1 |
| Other current assets | 1,083.1 | | 840.8 |
First 8 of 47 rows. The CSV has all of them.
| Six Months Ended | | |
| December 31, | | |
| 2025 | 2024 | |
| Cash Flows from Operating Activities: | | | |
| Net earnings | $2,075.1 | | $1,919.5 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: | | | |
| Depreciation and amortization | 292.3 | | 289.7 |
| Amortization of deferred contract costs | 598.1 | | 565.9 |
First 8 of 53 rows. The CSV has all of them.
Table 6 after “Recently Issued Accounting Pronouncements”
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| Standard | Description | Effective Date | Effect on Financial Statements or Other Significant Matters |
| ASU 2025-06 Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software | This update modernizes the accounting guidance for internal-use software costs and requires capitalization of software costs to begin when (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. | July 1, 2028 (fiscal 2029) | The Company is assessing this guidance and has not yet determined the impact of ASU 2025-06 on its consolidated results of operations, financial condition, or cash flows. |
| ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses | This update improves financial reporting by requiring enhanced disclosures of the expense captions in the Income Statement within the Notes to the financial statements. | June 30, 2028 (fiscal 2028) | The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows. |
| ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures | This update enhances the transparency and decision usefulness of income tax disclosures to better assess how an entity’s operations and related tax risks, tax planning and operational opportunities affect its tax rate and prospects for future cash flows. | June 30, 2026 (fiscal 2026) | The Company is assessing this guidance. The adoption will modify disclosures but will not have an impact on the Company's consolidated results of operations, financial condition, or cash flows. |
Table 7 after “The following tables provide details of the Company's revenues and includes a reconciliation to the Company’s reportable segments:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| Types of Revenues | 2025 | 2024 | | 2025 | 2024 | |
| HCM | $2,235.9 | | $2,131.9 | | $4,391.5 | $4,157.3 |
| HRO, excluding PEO zero-margin benefits pass-throughs | 979.3 | | 943.2 | | 1,890.8 | 1,808.4 |
| PEO zero-margin benefits pass-throughs | 1,126.2 | | 1,055.2 | | 2,257.2 | 2,104.4 |
| Global | 709.3 | | 645.3 | | 1,399.5 | 1,284.9 |
| Interest on funds held for clients | 308.6 | | 272.8 | | 595.5 | 526.1 |
First 8 of 9 rows. The CSV has all of them.
Table 8 after “Reconciliation of disaggregated revenue to our reportable segments for the three months ended December 31, 2025:”
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| Types of Revenues | Employer Services | PEO | | Other | Total | |
| HCM | $2,238.5 | | $— | | $(2.6) | $2,235.9 |
| HRO, excluding PEO zero-margin benefits pass-throughs | 353.8 | | 626.2 | | (0.7) | 979.3 |
| PEO zero-margin benefits pass-throughs | — | | 1,126.2 | | — | 1,126.2 |
| Global | 709.3 | | — | | — | 709.3 |
| Interest on funds held for clients | 305.8 | | 2.8 | | — | 308.6 |
| Total Segment Revenues | $3,607.4 | | $1,755.2 | | $(3.3) | $5,359.3 |
Table 9 after “Reconciliation of disaggregated revenue to our reportable segments for the three months ended December 31, 2024:”
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| Types of Revenues | Employer Services | PEO | | Other | Total | |
| HCM | $2,134.4 | | $— | | $(2.5) | $2,131.9 |
| HRO, excluding PEO zero-margin benefits pass-throughs | 338.5 | | 605.6 | | (0.9) | 943.2 |
| PEO zero-margin benefits pass-throughs | — | | 1,055.2 | | — | 1,055.2 |
| Global | 645.3 | | — | | — | 645.3 |
| Interest on funds held for clients | 270.3 | | 2.5 | | — | 272.8 |
| Total Segment Revenues | $3,388.5 | | $1,663.3 | | $(3.4) | $5,048.4 |
Table 10 after “Reconciliation of disaggregated revenue to our reportable segments for the six months ended December 31, 2025:”
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| Types of Revenues | Employer Services | PEO | | Other | Total | |
| HCM | $4,396.7 | | $— | | $(5.2) | $4,391.5 |
| HRO, excluding PEO zero-margin benefits pass-throughs | 712.3 | | 1,180.1 | | (1.6) | 1,890.8 |
| PEO zero-margin benefits pass-throughs | — | | 2,257.2 | | — | 2,257.2 |
| Global | 1,399.5 | | — | | — | 1,399.5 |
| Interest on funds held for clients | 590.1 | | 5.4 | | — | 595.5 |
| Total Segment Revenues | $7,098.6 | | $3,442.7 | | $(6.8) | $10,534.5 |
Table 11 after “Reconciliation of disaggregated revenue to our reportable segments for the six months ended December 31, 2024:”
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| Types of Revenues | Employer Services | PEO | | Other | Total | |
| HCM | $4,162.0 | | $— | | $(4.7) | $4,157.3 |
| HRO, excluding PEO zero-margin benefits pass-throughs | 681.3 | | 1,128.6 | | (1.5) | 1,808.4 |
| PEO zero-margin benefits pass-throughs | — | | 2,104.4 | | — | 2,104.4 |
| Global | 1,284.9 | | — | | — | 1,284.9 |
| Interest on funds held for clients | 521.3 | | 4.8 | | — | 526.1 |
| Total Segment Revenues | $6,649.5 | | $3,237.8 | | $(6.2) | $9,881.1 |
Table 12 after “Changes in deferred revenues related to set up fees for the six months ended December 31, 2025 were as follows:”
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| Contract Liability | |
| Contract liability, July 1, 2025 | $520.2 |
| Recognition of revenue included in beginning of year contract liability | (72.7) |
| Contract liability, net of revenue recognized on contracts during the period | 66.1 |
| Currency translation adjustments | 1.0 |
| Contract liability, December 31, 2025 | $514.6 |
Table 13 after “The purchase price allocation for WorkForce Software is as follows:”
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| Cash | $12.5 |
| Accounts receivable, net of allowance for doubtful accounts | 20.0 |
| Identifiable intangible assets (1) | 292.0 |
| Goodwill | 885.8 |
| Deferred income taxes, net of valuation allowance | 45.9 |
| All other assets | 14.8 |
| Total assets acquired | $1,271.0 |
| Deferred revenue | $39.6 |
First 8 of 11 rows. The CSV has all of them.
| Estimated Fair Value | Estimated Useful Life (in years) | |
| Technology | $115.0 | | 7 |
| Customer/Partner relationships | $170.0 | | 8 |
| Tradename | $7.0 | | 4 |
| Basic | Effect of Employee Stock Option Shares | | Effect of Employee Restricted Stock Shares | Diluted | | |
| Three Months Ended December 31, 2025 | | | | | | | |
| Net earnings | $1,062.0 | | | | | $1,062.0 | |
| Weighted average shares (in millions) | 403.8 | | 0.4 | | 0.5 | | 404.7 |
| EPS | $2.63 | | | | | $2.62 | |
| Three Months Ended December 31, 2024 | | | | | | | |
| Net earnings | $963.2 | | | | | $963.2 | |
| Weighted average shares (in millions) | 407.6 | | 0.6 | | 0.8 | | 409.0 |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Interest income on corporate funds | $(96.8) | | $(83.9) | | $(198.3) | $(175.5) |
| Realized (gains)/losses on available-for-sale securities, net | 0.3 | | 0.6 | | (1.2) | 0.8 |
| Gain on sale of assets | — | | — | | — | (2.4) |
| Non-service components of pension income, net (see Note 12) | (7.1) | | (7.8) | | (14.2) | (15.7) |
| Net (gain)/loss on ADP Ventures' investments | (2.2) | | — | | (2.2) | — |
First 8 of 9 rows. The CSV has all of them.
Table 17 after “Corporate investments and funds held for clients at December 31, 2025 and June 30, 2025 were as follows:”
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| December 31, 2025 | | | | | | |
| Amortized Cost | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Market Value (A) | |
| Type of issue: | | | | | | | |
| Money market securities, cash and other cash equivalents | $33,661.7 | | $— | | $— | | $33,661.7 |
| Available-for-sale securities: | | | | | | | |
| Corporate bonds | 17,695.5 | | 156.4 | | (276.2) | | 17,575.7 |
| U.S. Treasury securities | 10,893.0 | | 114.2 | | (17.7) | | 10,989.5 |
| Asset-backed securities | 2,074.6 | | 30.7 | | (8.4) | | 2,096.9 |
First 8 of 14 rows. The CSV has all of them.
Table 18 after “All available-for-sale securities are included in Level 2 of the fair value hierarchy.”
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| June 30, 2025 | | | | | |
| Amortized Cost | Gross Unrealized Gains | | Gross Unrealized Losses | Fair Market Value (B) | |
| Type of issue: | | | | | | |
| Money market securities, cash and other cash equivalents | $5,054.6 | | $— | | $— | $5,054.6 |
| Available-for-sale securities: | | | | | | |
| Corporate bonds | 17,515.2 | | 108.7 | | (420.2) | 17,203.7 |
| U.S. Treasury securities | 8,416.8 | | 85.6 | | (43.7) | 8,458.7 |
| Canadian government obligations and Canadian government agency obligations | 1,972.0 | | 16.4 | | (32.4) | 1,956.0 |
First 8 of 14 rows. The CSV has all of them.
Table 19 after “The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less th”
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| December 31, 2025 | | | | | | | | | |
| 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 | $(2.5) | | $861.0 | | $(273.7) | | $8,816.4 | | $(276.2) | $9,677.4 |
| U.S. Treasury securities | (2.0) | | 711.9 | | (15.7) | | 1,264.6 | | (17.7) | 1,976.5 |
| Asset-backed securities | (0.2) | | 58.7 | | (8.2) | | 392.7 | | (8.4) | 451.4 |
| Canadian government obligations and Canadian government agency obligations | (1.8) | | 198.2 | | (22.1) | | 657.2 | | (23.9) | 855.4 |
| Canadian provincial bonds | (0.1) | | 55.5 | | (20.3) | | 535.0 | | (20.4) | 590.5 |
First 8 of 11 rows. The CSV has all of them.
Table 20 after “The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less th”
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| June 30, 2025 | | | | | | | | | |
| 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 | $(5.4) | | $690.4 | | $(414.8) | | $10,218.8 | | $(420.2) | $10,909.2 |
| U.S. Treasury securities | (0.8) | | 732.2 | | (42.9) | | 1,801.7 | | (43.7) | 2,533.9 |
| Canadian government obligations and Canadian government agency obligations | (1.4) | | 219.2 | | (31.0) | | 870.2 | | (32.4) | 1,089.4 |
| Asset-backed securities | (0.2) | | 101.4 | | (15.3) | | 481.4 | | (15.5) | 582.8 |
| U.S. government agency securities | (0.1) | | 8.0 | | (79.9) | | 1,093.8 | | (80.0) | 1,101.8 |
First 8 of 11 rows. The CSV has all of them.
Table 21 after “Classification of corporate investments on the Consolidated Balance Sheets is as follows:”
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| December 31, | June 30, | |
| 2025 | 2025 | |
| Corporate investments: | | | |
| Cash and cash equivalents | $2,424.7 | | $3,347.8 |
| Short-term marketable securities | 45.7 | | 4,498.8 |
| Total corporate investments | $2,470.4 | | $7,846.6 |
Table 22 after “Funds held for clients have been invested in the following categories:”
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| December 31, | June 30, | |
| 2025 | 2025 | |
| Funds held for clients: | | | |
| Restricted cash and cash equivalents held to satisfy client funds obligations | $31,237.0 | | $1,706.8 |
| Restricted short-term marketable securities held to satisfy client funds obligations | 7,584.8 | | 3,155.7 |
| Restricted long-term marketable securities held to satisfy client funds obligations | 28,688.3 | | 26,123.2 |
| Total funds held for clients | $67,510.1 | | $30,985.7 |
Table 23 after “Expected maturities of available-for-sale securities at December 31, 2025 are as follows:”
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| One year or less | $7,630.4 |
| One year to two years | 4,675.5 |
| Two years to three years | 6,606.4 |
| Three years to four years | 5,167.3 |
| After four years | 12,239.2 |
| Total available-for-sale securities | $36,318.8 |
Table 24 after “The components of operating lease expense were as follows:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Operating lease cost | $31.4 | | $27.3 | | $61.9 | $54.8 |
| Short-term lease cost | 0.3 | | 0.2 | | 0.7 | 0.5 |
| Variable lease cost | 5.8 | | 4.6 | | 11.5 | 11.2 |
| Total operating lease cost | $37.5 | | $32.1 | | $74.1 | $66.5 |
Table 25 after “The following table provides supplemental cash flow information related to the Company's leases:”
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| Six Months Ended | | |
| December 31, | | |
| 2025 | 2024 | |
| Cash paid for operating lease liabilities | $64.9 | | $59.3 |
| Operating lease ROU assets obtained in exchange for new operating lease liabilities | $89.8 | | $31.7 |
Table 26 after “Other information related to our operating lease liabilities is as follows:”
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| December 31, | June 30, | |
| 2025 | 2025 | |
| Weighted-average remaining lease term (in years) | 6 | 6 | |
| Weighted-average discount rate | 3.9% | | 3.6% |
| Current operating lease liability | $107.0 | | $100.8 |
Table 27 after “As of December 31, 2025, maturities of operating lease liabilities are as follows:”
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| Six months ending June 30, 2026 | $62.6 |
| Twelve months ending June 30, 2027 | 113.4 |
| Twelve months ending June 30, 2028 | 91.1 |
| Twelve months ending June 30, 2029 | 67.2 |
| Twelve months ending June 30, 2030 | 49.1 |
| Thereafter | 126.3 |
| Total undiscounted lease obligations | 509.7 |
| Less: Imputed interest | (55.1) |
First 8 of 9 rows. The CSV has all of them.
Table 28 after “Changes in goodwill for the six months ended December 31, 2025 are as follows:”
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| Employer Services | PEO Services | | Total | |
| Balance at June 30, 2025 | $3,268.7 | | $4.8 | | $3,273.5 |
| Additions and other adjustments | 22.2 | | — | | 22.2 |
| Currency translation adjustments | (1.5) | | — | | (1.5) |
| Balance at December 31, 2025 | $3,289.4 | | $4.8 | | $3,294.2 |
Table 29 after “Components of intangible assets, net, are as follows:”
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| December 31, | June 30, | |
| 2025 | 2025 | |
| Intangible assets: | | | |
| Software and software licenses | $4,259.6 | | $4,103.6 |
| Customer contracts and lists | 1,451.5 | | 1,429.4 |
| Other intangibles | 250.1 | | 249.8 |
| 5,961.2 | | 5,782.8 |
| Less accumulated amortization: | | | |
First 8 of 13 rows. The CSV has all of them.
Table 30 after “Estimated future amortization expenses of the Company's existing intangible assets are as follows:”
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| Amount |
| Six months ending June 30, 2026 | $220.5 |
| Twelve months ending June 30, 2027 | $348.3 |
| Twelve months ending June 30, 2028 | $263.4 |
| Twelve months ending June 30, 2029 | $228.8 |
| Twelve months ending June 30, 2030 | $187.3 |
| Twelve months ending June 30, 2031 | $141.8 |
Table 31 after “Details of the borrowings under the commercial paper program are as follows:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Average daily borrowings (in billions) | $4.4 | | $4.5 | | $4.5 | $4.7 |
| Weighted average interest rates | 4.0% | | 4.8% | | 4.2% | 5.1% |
| Weighted average maturity (approximately in days) | 2 days | 2 days | | 2 days | 2 days | |
Table 32 after “Details of the reverse repurchase agreements are as follows:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Average outstanding balances (in billions) | $4.3 | | $3.7 | | $4.4 | $3.7 |
| Weighted average interest rates | 4.1% | | 4.8% | | 4.3% | 5.0% |
Table 33 after “The principal amounts and associated effective interest rates of the Notes and other debt as of December 31, 2025 and June 30, 2025, are as ”
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| Debt instrument | Effective Interest Rate | December 31, 2025 | June 30, 2025 | |
| Fixed-rate 1.700% notes due May 15, 2028 | 1.85% | 1,000.0 | | 1,000.0 |
| Fixed-rate 1.250% notes due September 1, 2030 | 1.83% | 1,000.0 | | 1,000.0 |
| Fixed-rate 4.750% notes due May 8, 2032 | 4.95% | 1,000.0 | | 1,000.0 |
| Fixed-rate 4.450% notes due September 9, 2034 | 4.75% | 1,000.0 | | 1,000.0 |
| Other | | 2.4 | | 2.9 |
| | 4,002.4 | | 4,002.9 |
| Less: current portion (a) | | (1.1) | | (1.0) |
First 8 of 10 rows. The CSV has all of them.
Table 34 after “The following table represents pre-tax stock-based compensation expense for the three and six months ended December 31, 2025 and 2024, respe”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Operating expenses | $8.5 | | $9.2 | | $17.1 | $18.3 |
| Selling, general and administrative expenses | 55.3 | | 59.6 | | 96.7 | 101.9 |
| Research and development | 9.4 | | 10.3 | | 18.1 | 19.5 |
| Total stock-based compensation expense | $73.2 | | $79.1 | | $131.9 | $139.7 |
Table 35 after “The components of net pension (income)/expense were as follows:”
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| Three Months Ended | | | Six Months Ended | | | |
| December 31, | | | December 31, | | | |
| 2025 | 2024 | | | 2025 | 2024 | |
| Service cost – benefits earned during the period | $2.0 | | $1.5 | | | $4.0 | $3.0 |
| Interest cost on projected benefits | 21.7 | | 21.9 | | | 43.4 | 43.7 |
| Expected return on plan assets | (28.3) | | (29.0) | | | (56.6) | (58.0) |
| Net amortization and deferral | 0.7 | | 0.7 | | | 1.5 | 1.5 |
| Net pension (income)/expense | $(3.9) | | $(4.9) | | | $(7.7) | $(9.8) |
Table 36 after “Changes in stockholders' equity by component are as follows:”
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| Three Months Ended | | | | | | | | | |
| December 31, 2025 | | | | | | | | | |
| Common Stock | Capital in Excess of Par Value | | Retained Earnings | Treasury Stock | AOCI | | Total | | |
| Balance at September 30, 2025 | $63.9 | | $2,868.0 | | $25,622.4 | | $(21,449.8) | | $(730.7) | $6,373.8 |
| Net earnings | — | | — | | 1,062.0 | | — | | — | 1,062.0 |
| Other comprehensive income/(loss) | — | | — | | — | | — | | 91.0 | 91.0 |
| Stock-based compensation expense | — | | 66.3 | | — | | — | | — | 66.3 |
| Issuances relating to stock compensation plans | — | | 2.5 | | — | | 0.4 | | — | 2.9 |
First 8 of 11 rows. The CSV has all of them.
Table 37 after “Changes in stockholders' equity by component are as follows:”
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| Three Months Ended | | | | | | | | | |
| December 31, 2024 | | | | | | | | | |
| Common Stock | Capital in Excess of Par Value | | Retained Earnings | Treasury Stock | AOCI | | Total | | |
| Balance at September 30, 2024 | $63.9 | | $2,528.6 | | $24,001.2 | | $(20,144.9) | | $(1,100.2) | $5,348.6 |
| Net earnings | — | | — | | 963.2 | | — | | — | 963.2 |
| Other comprehensive income/(loss) | — | | — | | — | | — | | (428.5) | (428.5) |
| Stock-based compensation expense | — | | 70.2 | | — | | — | | — | 70.2 |
| Issuances relating to stock compensation plans | — | | 20.8 | | — | | 6.5 | | — | 27.3 |
First 8 of 11 rows. The CSV has all of them.
| Six Months Ended | | | | | | | | | |
| December 31, 2025 | | | | | | | | | |
| Common Stock | Capital in Excess of Par Value | | Retained Earnings | Treasury Stock | AOCI | | Total | | |
| Balance at June 30, 2025 | $63.9 | | $2,788.3 | | $25,240.6 | | $(21,021.4) | | $(883.4) | $6,188.0 |
| Net earnings | — | | — | | 2,075.1 | | — | | — | 2,075.1 |
| Other comprehensive income/(loss) | — | | — | | — | | — | | 243.7 | 243.7 |
| Stock-based compensation expense | — | | 123.6 | | — | | — | | — | 123.6 |
| Issuances relating to stock compensation plans | — | | 24.9 | | — | | 35.7 | | — | 60.6 |
First 8 of 11 rows. The CSV has all of them.
| Six Months Ended | | | | | | | | | |
| December 31, 2024 | | | | | | | | | |
| Common Stock | Capital in Excess of Par Value | | Retained Earnings | Treasury Stock | AOCI | | Total | | |
| Balance at June 30, 2024 | $63.9 | | $2,406.9 | | $23,622.2 | | $(19,737.1) | | $(1,808.3) | $4,547.6 |
| Net earnings | — | | — | | 1,919.5 | | — | | — | 1,919.5 |
| Other comprehensive income/(loss) | — | | — | | — | | — | | 279.6 | 279.6 |
| Stock-based compensation expense | — | | 125.0 | | — | | — | | — | 125.0 |
| Issuances relating to stock compensation plans | — | | 87.7 | | — | | 56.2 | | — | 143.9 |
First 8 of 11 rows. The CSV has all of them.
Table 40 after “Changes in AOCI by component are as follows:”
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| Three Months Ended | | | | | | | | | | |
| December 31, 2025 | | | | | | | | | | |
| Currency Translation Adjustment | Net Gains/Losses on Available-for-sale Securities | | Cash Flow Hedging Activities | | Pension Liability | | | Accumulated Other Comprehensive Income/(Loss) | | |
| Balance at September 30, 2025 | $(305.3) | | $(172.7) | | | $(26.6) | | $(226.1) | | | $(730.7) |
| Other comprehensive income/(loss) before reclassification adjustments | 3.9 | | 107.5 | | | — | | — | | | 111.4 |
| Tax effect | — | | (22.7) | | | — | | — | | | (22.7) |
| Reclassification adjustments to net earnings | — | | 0.3 | | (A) | 1.6 | (C) | 1.1 | | (B) | 3.0 |
| Tax effect | — | | — | | | (0.4) | | (0.3) | | | (0.7) |
First 8 of 9 rows. The CSV has all of them.
Table 41 after “Changes in AOCI by component are as follows:”
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| Three Months Ended | | | | | | | | | | |
| December 31, 2024 | | | | | | | | | | |
| Currency Translation Adjustment | Net Gains/Losses on Available-for-sale Securities | | Cash Flow Hedging Activities | | Pension Liability | | | Accumulated Other Comprehensive Income/(Loss) | | |
| Balance at September 30, 2024 | $(329.6) | | $(511.3) | | | $(28.6) | | $(230.7) | | | $(1,100.2) |
| Other comprehensive income/(loss) before reclassification adjustments | (101.0) | | (423.8) | | | — | | — | | | (524.8) |
| Tax effect | — | | 94.2 | | | — | | — | | | 94.2 |
| Reclassification adjustments to net earnings | — | | 0.6 | | (A) | 1.4 | (C) | 0.7 | | (B) | 2.7 |
| Tax effect | — | | (0.1) | | | (0.3) | | (0.2) | | | (0.6) |
First 8 of 9 rows. The CSV has all of them.
| Six Months Ended | | | | | | | | | | |
| December 31, 2025 | | | | | | | | | | |
| Currency Translation Adjustment | Net Gains/Losses on Available-for-sale Securities | | Cash Flow Hedging Activities | | Pension Liability | | | Accumulated Other Comprehensive Income/(Loss) | | |
| Balance at June 30, 2025 | $(289.8) | | $(338.9) | | | $(27.7) | | $(227.0) | | | $(883.4) |
| Other comprehensive income/(loss) before reclassification adjustments | (11.6) | | 323.2 | | | — | | — | | | 311.6 |
| Tax effect | — | | (71.0) | | | — | | — | | | (71.0) |
| Reclassification adjustments to net earnings | — | | (1.2) | | (A) | 3.0 | (C) | 2.3 | | (B) | 4.1 |
| Tax effect | — | | 0.3 | | | (0.7) | | (0.6) | | | (1.0) |
First 8 of 9 rows. The CSV has all of them.
| Six Months Ended | | | | | | | | | | |
| December 31, 2024 | | | | | | | | | | |
| Currency Translation Adjustment | Net Gains/Losses on Available-for-sale Securities | | Cash Flow Hedging Activities | | Pension Liability | | | Accumulated Other Comprehensive Income/(Loss) | | |
| Balance at June 30, 2024 | $(378.8) | | $(1,178.0) | | | $(20.0) | | $(231.5) | | | $(1,808.3) |
| Other comprehensive income/(loss) before reclassification adjustments | (51.8) | | 440.5 | | | (12.5) | | — | | | 376.2 |
| Tax effect | — | | (103.6) | | | 3.1 | | — | | | (100.5) |
| Reclassification adjustments to net earnings | — | | 0.8 | | (A) | 2.5 | (C) | 1.8 | | (B) | 5.1 |
| Tax effect | — | | (0.1) | | | (0.6) | | (0.5) | | | (1.2) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended December 31, 2025 | Employer Services | PEO Services | | Total | |
| Revenues from external customers | $3,298.3 | | $1,752.4 | | $5,050.7 |
| Interest on funds held for clients | 305.8 | | 2.8 | | 308.6 |
| Intercompany revenues | 3.3 | | — | | 3.3 |
| Total segment revenues | 3,607.4 | | 1,755.2 | | 5,362.6 |
| Reconciliation of revenues: | | | | | |
| Intercompany eliminations | | | | (3.3) | |
| Total consolidated revenues | | | | $5,359.3 | |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended December 31, 2024 | Employer Services | PEO Services | | Total | |
| Revenues from external customers | $3,114.8 | | $1,660.8 | | $4,775.6 |
| Interest on funds held for clients | 270.3 | | 2.5 | | 272.8 |
| Intercompany revenues | 3.4 | | — | | 3.4 |
| Total segment revenues | 3,388.5 | | 1,663.3 | | 5,051.8 |
| Reconciliation of revenues: | | | | | |
| Intercompany eliminations | | | | (3.4) | |
| Total consolidated revenues | | | | $5,048.4 | |
First 8 of 17 rows. The CSV has all of them.
| Six Months Ended December 31, 2025 | Employer Services | PEO Services | | Total | |
| Revenues from external customers | $6,501.7 | | $3,437.3 | | $9,939.0 |
| Interest on funds held for clients | 590.1 | | 5.4 | | 595.5 |
| Intercompany revenues | 6.8 | | — | | 6.8 |
| Total segment revenues | 7,098.6 | | 3,442.7 | | 10,541.3 |
| Reconciliation of revenues: | | | | | |
| Intercompany eliminations | | | | (6.8) | |
| Total consolidated revenues | | | | $10,534.5 | |
First 8 of 17 rows. The CSV has all of them.
| Six Months Ended December 31, 2024 | Employer Services | PEO Services | | Total | |
| Revenues from external customers | $6,122.0 | | $3,233.0 | | $9,355.0 |
| Interest on funds held for clients | 521.3 | | 4.8 | | 526.1 |
| Intercompany revenues | 6.2 | | — | | 6.2 |
| Total segment revenues | 6,649.5 | | 3,237.8 | | 9,887.3 |
| Reconciliation of revenues: | | | | | |
| Intercompany eliminations | | | | (6.2) | |
| Total consolidated revenues | | | | $9,881.1 | |
First 8 of 17 rows. The CSV has all of them.
Table 48 after “The following table presents the Company's depreciation and amortization included in earnings before income taxes for each reportable segmen”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Employer Services | $130.5 | | $133.3 | | $261.6 | $253.9 |
| PEO Services | 0.5 | | 1.7 | | 1.2 | 3.4 |
| Other | 14.6 | | 16.0 | | 29.5 | 32.4 |
| Total depreciation and amortization | $145.6 | | $151.0 | | $292.3 | $289.7 |
| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Total Revenues | $5,359.3 | | $5,048.4 | | $10,534.5 | $9,881.1 |
| YoY Growth | 6% | | 8% | | 7% | 8% |
| YoY Growth, Organic Constant Currency | 5% | | 8% | | 6% | 7% |
| Three Months Ended | | | | | Six Months Ended | | | | | | |
| December 31, | | | | December 31, | | | | | | | |
| 2025 | 2024 | | % Change | | | 2025 | 2024 | | % Change | | |
| Costs of revenues: | | | | | | | | | | | | |
| Operating expenses | $2,509.0 | | $2,376.1 | | | 6% | | | $4,970.6 | | $4,661.9 | 7% |
| Research and development | 257.8 | | 239.5 | | | 8% | | | 509.0 | | 472.1 | 8% |
| Depreciation and amortization | 122.9 | | 126.9 | | | (3)% | | | 246.2 | | 242.2 | 2% |
| Total costs of revenues | 2,889.7 | | 2,742.5 | | | 5% | | | 5,725.8 | | 5,376.2 | 7% |
First 8 of 11 rows. The CSV has all of them.
| Three Months Ended | | | Six Months Ended | | | | | | |
| December 31, | | | December 31, | | | | | | |
| 2025 | 2024 | | $ Change | 2025 | 2024 | | $ Change | | |
| Interest income on corporate funds | $(96.8) | | $(83.9) | | $12.9 | | $(198.3) | | $(175.5) | $22.8 |
| Realized (gains)/losses on available-for-sale securities, net | 0.3 | | 0.6 | | 0.3 | | (1.2) | | 0.8 | 2.0 |
| Gain on sale of assets | — | | — | | — | | — | | (2.4) | (2.4) |
| Non-service components of pension income, net | (7.1) | | (7.8) | | (0.7) | | (14.2) | | (15.7) | (1.5) |
| Net (gain)/loss on ADP Ventures' investments | (2.2) | | — | | 2.2 | | (2.2) | | — | 2.2 |
First 8 of 9 rows. The CSV has all of them.
Table 52 after “Earnings Before Income Taxes ("EBIT") and Adjusted EBIT”
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| Three Months Ended | | | Six Months Ended | | | | | | | | |
| December 31, | | | December 31, | | | | | | | | |
| 2025 | 2024 | | YoY Growth | 2025 | 2024 | | YoY Growth | | | | |
| EBIT | $1,383.2 | | $1,261.3 | | 10% | | $2,690.7 | | | $2,497.5 | | 8% |
| EBIT Margin | 25.8% | | 25.0% | | 80 bps | 25.5% | | | 25.3% | | 30 bps | |
| Adjusted EBIT | $1,392.8 | | $1,272.0 | | 10% | | $2,711.1 | | | $2,504.5 | | 8% |
| Adjusted EBIT Margin | 26.0% | | 25.2% | | 80 bps | 25.7% | | | 25.3% | | 40 bps | |
Table 53 after “Net Earnings and Diluted EPS, Unadjusted and Adjusted”
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| Three Months Ended | | | | | Six Months Ended | | | | | | |
| December 31, | | | | December 31, | | | | | | | |
| 2025 | 2024 | | YoY Growth | | | 2025 | 2024 | | YoY Growth | | |
| Net earnings | $1,062.0 | | $963.2 | | | 10% | | | $2,075.1 | | $1,919.5 | 8% |
| Diluted EPS | $2.62 | | $2.35 | | | 11% | | | $5.12 | | $4.69 | 9% |
| Adjusted net earnings | $1,059.5 | | $963.2 | | | 10% | | | $2,072.6 | | $1,919.3 | 8% |
| Adjusted diluted EPS | $2.62 | | $2.35 | | | 11% | | | $5.11 | | $4.69 | 9% |
Table 54 after “ANALYSIS OF REPORTABLE SEGMENTS”
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| Revenues | | | | | | | | | | | | | | |
| Three Months Ended | % Change | | Six Months Ended | % Change | | | | | | | | | | |
| December 31, | | December 31, | | | | | | | | | | | | |
| 2025 | 2024 | | As Reported | Organic constant currency | 2025 | | 2024 | As Reported | | Organic constant currency | | | | |
| Employer Services | $3,607.4 | | $3,388.5 | | 6% | | 5% | | $7,098.6 | | | $6,649.5 | | 7% | 5% |
| PEO Services | 1,755.2 | | 1,663.3 | | 6% | | 6% | | 3,442.7 | | | 3,237.8 | | 6% | 6% |
| Other | (3.3) | | (3.4) | | n/m | n/m | | (6.8) | | (6.2) | | | n/m | n/m | |
| $5,359.3 | | $5,048.4 | | 6% | | 5% | | $10,534.5 | | | $9,881.1 | | 7% | 6% |
Table 55 after “ANALYSIS OF REPORTABLE SEGMENTS”
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| Earnings before Income Taxes | | | | | | | | | | | | | |
| Three Months Ended | % Change | | | | Six Months Ended | % Change | | | | | | | |
| December 31, | | | | December 31, | | | | | | | | | |
| 2025 | 2024 | | As Reported | | | 2025 | 2024 | | As Reported | | | | |
| Employer Services | $1,278.8 | | $1,183.0 | | | 8% | | | $2,507.6 | | | $2,347.3 | | 7% |
| PEO Services | 252.9 | | 251.7 | | | —% | | | 471.7 | | | 477.3 | | (1)% |
| Other | (148.5) | | (173.4) | | | n/m | | (288.6) | | | (327.1) | | n/m | |
| $1,383.2 | | $1,261.3 | | | 10% | | | $2,690.7 | | | $2,497.5 | | 8% |
Table 56 after “ANALYSIS OF REPORTABLE SEGMENTS”
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| Margin | | | | | | | | | | |
| Three Months Ended | | | | | Six Months Ended | | | | | |
| December 31, | | | | December 31, | | | | | | |
| 2025 | 2024 | | YoY Growth | | | 2025 | 2024 | YoY Growth | | |
| Employer Services | 35.4% | | 34.9% | | | 50 bps | | 35.3% | | 35.3% | 0 bps |
| PEO Services | 14.4% | | 15.1% | | | (70) bps | | 13.7% | | 14.7% | (100) bps |
| PEO Revenues | | | | | | | | | | | |
| Three Months Ended | Change | | Six Months Ended | Change | | | | | | | |
| December 31, | | December 31, | | | | | | | | | |
| 2025 | 2024 | | $% | | 2025 | 2024 | $% | | | | |
| PEO Services' revenues | $1,755.2 | | $1,663.3 | | $91.9 | | 6% | | $3,442.7 | $3,237.8 | $204.9 | 6% |
| Less: PEO zero-margin benefits pass-throughs | 1,126.2 | | 1,055.2 | | 71.0 | | 7% | | 2,257.2 | 2,104.4 | 152.8 | 7% |
| PEO Services' revenues excluding zero-margin benefits pass-throughs | $629.0 | | $608.1 | | $20.9 | | 3% | | $1,185.5 | $1,133.4 | $52.1 | 5% |
| Three Months Ended | % Change | | | | Six Months Ended | % Change | | | | | | |
| December 31, | | | | December 31, | | | | | | | | |
| 2025 | 2024 | | As Reported | | | 2025 | 2024 | | As Reported | | | |
| Net earnings | $1,062.0 | | $963.2 | | | 10% | | | $2,075.1 | | | $1,919.5 | 8% |
| Adjustments: | | | | | | | | | | | | | |
| Provision for income taxes | 321.2 | | 298.1 | | | | | 615.6 | | | 578.0 | | |
| All other interest expense (a) | 32.8 | | 29.6 | | | | | 66.5 | | | 50.1 | | |
| All other interest income (a) | (19.8) | | (18.9) | | | | | (42.7) | | | (42.8) | | |
First 8 of 33 rows. The CSV has all of them.
Table 59 after “The following table reconciles our reported growth rates to the non-GAAP measure of organic constant currency, which excludes the impact of ”
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| Three Months Ended | Six Months Ended | |
| December 31, | December 31, | |
| 2025 | 2025 | |
| Consolidated revenue growth as reported | 6% | | 7% |
| Adjustments: | | | |
| Impact of acquisitions | —% | | —% |
| Impact of foreign currency | (1)% | | (1)% |
| Consolidated revenue growth, organic constant currency | 5% | | 6% |
First 8 of 13 rows. The CSV has all of them.
Table 60 after “Our cash flows from operating, investing, and financing activities, as reflected in the Statements of Consolidated Cash Flows for the six mo”
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| Six Months Ended | | | | |
| December 31, | | | | |
| 2025 | 2024 | | $ Change | |
| Cash provided by (used in): | | | | | |
| Operating activities | $1,775.2 | | $1,974.7 | | $(199.5) |
| Investing activities | (2,539.5) | | (2,902.3) | | 362.8 |
| Financing activities | 29,342.6 | | 7,482.5 | | 21,860.1 |
| Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents | 28.8 | | (36.7) | | 65.5 |
First 8 of 9 rows. The CSV has all of them.
Table 61 after “of the borrowings under the commercial paper program are as follows:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Average daily borrowings (in billions) | $4.4 | | $4.5 | | $4.5 | $4.7 |
| Weighted average interest rates | 4.0% | | 4.8% | | 4.2% | 5.1% |
| Weighted average maturity (approximately in days) | 2 days | 2 days | | 2 days | 2 days | |
Table 62 after “Our U.S., Canadian, and United Kingdom short-term funding requirements related to client funds obligations are sometimes obtained on a secur”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Average outstanding balances (in billions) | $4.3 | | $3.7 | | $4.4 | $3.7 |
| Weighted average interest rates | 4.1% | | 4.8% | | 4.3% | 5.0% |
Table 63 after “Details regarding our overall investment portfolio are as follows:”
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| Three Months Ended | Six Months Ended | | | | |
| December 31, | December 31, | | | | |
| 2025 | 2024 | | 2025 | 2024 | |
| Average investment balances at cost: | | | | | | |
| Corporate investments | $10,959.0 | | $9,964.9 | | $11,176.4 | $10,317.3 |
| Funds held for clients | 37,566.4 | | 35,281.9 | | 36,247.6 | 34,034.4 |
| Total | $48,525.4 | | $45,246.8 | | $47,424.0 | $44,351.7 |
| Average interest rates earned exclusive of realized (gains)/losses on: | | | | | | |
First 8 of 12 rows. The CSV has all of them.
Table 64 after “Details regarding our overall investment portfolio are as follows:”
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| December 31, 2025 | June 30, 2025 | |
| Net unrealized pre-tax gains/(losses) on available-for-sale securities | $(103.7) | | $(425.7) |
| Total available-for-sale securities at fair value | $36,318.8 | | $33,777.7 |
Table 65 after “Issuer Purchases of Equity Securities”
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| Total Number of Shares Purchased (1) | Average Price Paid per Share (2) | | Total Number of Shares Purchased as Part of the Publicly Announced Common Stock Repurchase Plan (1) | | Maximum Approximate Dollar Value of Shares that may yet be Purchased under the Common Stock Repurchase Plan (1) (2) | |
| Period | | | | | | | |
| October 1 to 31, 2025 | 519,252 | | $284.20 | | | 519,252 | $1,286,258,009 |
| November 1 to 30, 2025 | 674,012 | | $256.23 | | | 674,012 | $1,113,558,970 |
| December 1 to 31, 2025 | 741,860 | | $262.74 | | | 741,860 | $918,641,111 |
| Total | 1,935,124 | | | | 1,935,124 | | |
Table 66 after “Issuer Purchases of Equity Securities”
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| (1) | The Company received the Board of Directors' approval in November 2022 to repurchase $5 billion of its common stock, as reflected in the table above. In January 2026, the Company received the Board of Directors' approval to repurchase $6 billion of its common stock, which replaces in its entirety the previous 2022 authorization. |
| (2) | Inclusive of the impact of the one-percent excise tax under the Inflation Reduction Act of 2022. |
| Exhibit Number | Exhibit |
| 31.1 | Certification by Maria Black pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 |
| 31.2 | Certification by Peter Hadley pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 |
| 32.1 | Certification by Maria Black pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 32.2 | Certification by Peter Hadley pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 101.INS | Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase |
First 8 of 12 rows. The CSV has all of them.