Stock Analysis on Net

Automatic Data Processing Inc. (NASDAQ:ADP)

This company has been moved to the archive! The financial data has not been updated since April 29, 2022.

Adjustments to Financial Statements

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Adjustments to Current Assets

Automatic Data Processing Inc., adjusted current assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Current assets 40,741,800  31,564,100  34,342,300  32,050,000  32,658,700  39,500,400 
Adjustments
Add: Allowance for doubtful accounts 79,600  92,500  54,900  51,300  49,600  38,100 
After Adjustment
Adjusted current assets 40,821,400  31,656,600  34,397,200  32,101,300  32,708,300  39,538,500 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).


Adjustments to Total Assets

Automatic Data Processing Inc., adjusted total assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Total assets 48,772,500  39,165,500  41,887,700  37,088,700  37,180,000  43,670,000 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  542,858  484,694  428,436  445,608 
Add: Allowance for doubtful accounts 79,600  92,500  54,900  51,300  49,600  38,100 
Less: Long-term deferred tax assets (included in Other assets)2 48,300  38,800  64,000  90,100  93,400  100,300 
After Adjustment
Adjusted total assets 48,803,800  39,219,200  42,421,458  37,534,594  37,564,636  44,053,408 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax assets (included in Other assets). See details »


Adjustments to Current Liabilities

Automatic Data Processing Inc., adjusted current liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Current liabilities 38,094,800  30,126,600  32,627,700  30,413,600  29,815,900  35,847,400 
Adjustments
Less: Short-term deferred revenues 203,900  212,500  220,700  226,500  232,900  233,200 
After Adjustment
Adjusted current liabilities 37,890,900  29,914,100  32,407,000  30,187,100  29,583,000  35,614,200 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).


Adjustments to Total Liabilities

Automatic Data Processing Inc., adjusted total liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Total liabilities 43,102,400  33,413,300  36,487,800  33,629,100  33,203,000  39,188,400 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  542,858  484,694  428,436  445,608 
Less: Long-term deferred tax liabilities2 482,900  731,900  659,900  107,300  163,100  251,100 
Less: Deferred revenues 566,300  583,100  620,000  604,300  624,300  614,300 
After Adjustment
Adjusted total liabilities 42,053,200  32,098,300  35,750,758  33,402,194  32,844,036  38,768,608 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Automatic Data Processing Inc., adjusted stockholders’ equity

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Stockholders’ equity 5,670,100  5,752,200  5,399,900  3,459,600  3,977,000  4,481,600 
Adjustments
Less: Net deferred tax assets (liabilities)1 (434,700) (693,200) (595,900) (17,200) (69,700) (150,800)
Add: Allowance for doubtful accounts 79,600  92,500  54,900  51,300  49,600  38,100 
Add: Deferred revenues 566,300  583,100  620,000  604,300  624,300  614,300 
After Adjustment
Adjusted stockholders’ equity 6,750,700  7,121,000  6,670,700  4,132,400  4,720,600  5,284,800 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Automatic Data Processing Inc., adjusted capitalization table

US$ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Obligations under reverse repurchase agreements 23,500  13,600  262,000  —  —  — 
Short-term debt —  1,001,800  —  —  —  — 
Long-term debt 2,985,000  1,002,800  2,002,200  2,002,400  2,002,400  2,007,700 
Total reported debt 3,008,500  2,018,200  2,264,200  2,002,400  2,002,400  2,007,700 
Stockholders’ equity 5,670,100  5,752,200  5,399,900  3,459,600  3,977,000  4,481,600 
Total reported capital 8,678,600  7,770,400  7,664,100  5,462,000  5,979,400  6,489,300 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  542,858  484,694  428,436  445,608 
Add: Current operating lease liability (recorded within Accrued expenses and other current liabilities)2 94,700  95,500  —  —  —  — 
Add: Long-term operating lease liabilities3 343,200  344,400  —  —  —  — 
Adjusted total debt 3,446,400  2,458,100  2,807,058  2,487,094  2,430,836  2,453,308 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 (434,700) (693,200) (595,900) (17,200) (69,700) (150,800)
Add: Allowance for doubtful accounts 79,600  92,500  54,900  51,300  49,600  38,100 
Add: Deferred revenues 566,300  583,100  620,000  604,300  624,300  614,300 
Adjusted stockholders’ equity 6,750,700  7,121,000  6,670,700  4,132,400  4,720,600  5,284,800 
After Adjustment
Adjusted total capital 10,197,100  9,579,100  9,477,758  6,619,494  7,151,436  7,738,108 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liability (recorded within Accrued expenses and other current liabilities). See details »

3 Long-term operating lease liabilities. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Automatic Data Processing Inc., adjusted revenues

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Revenues 15,005,400  14,589,800  14,175,200  13,325,800  12,379,800  11,667,800 
Adjustment
Add: Increase (decrease) in deferred revenues (16,800) (36,900) (53,800) (20,000) 10,000  23,000 
After Adjustment
Adjusted revenues 14,988,600  14,552,900  14,121,400  13,305,800  12,389,800  11,690,800 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).


Adjustments to Reported Income

Automatic Data Processing Inc., adjusted net earnings

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
As Reported
Net earnings 2,598,500  2,466,500  2,292,800  1,620,800  1,733,400  1,492,500 
Adjustments
Add: Deferred income tax expense (benefit)1 (251,100) 26,000  9,300  500  8,100  700 
Add: Increase (decrease) in allowance for doubtful accounts (12,900) 37,600  3,600  1,700  11,500  2,600 
Add: Increase (decrease) in deferred revenues (16,800) (36,900) (53,800) (20,000) 10,000  23,000 
Less: Net loss from discontinued operations —  —  —  —  —  (900)
Add: Other comprehensive income (loss), net of tax 25,400  242,500  422,500  (259,300) (164,100) 45,500 
After Adjustment
Adjusted net earnings 2,343,100  2,735,700  2,674,400  1,343,700  1,598,900  1,565,200 

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Deferred income tax expense (benefit). See details »