Microsoft Excel LibreOffice Calc

Adjustments to Financial Statements

Difficulty: Advanced


Adjustments to Current Assets

Automatic Data Processing Inc., adjusted current assets

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Current assets 32,050,000  32,658,700  39,500,400  28,809,200  25,833,400  26,201,000 
Adjustments
Add: Allowance for doubtful accounts 51,300  49,600  38,100  35,500  55,700  50,900 
Less: Current deferred tax assets (included in Other current assets)1 –  –  –  33,000  29,400  26,300 
After Adjustment
Adjusted current assets 32,101,300  32,708,300  39,538,500  28,811,700  25,859,700  26,225,600 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

1 Current deferred tax assets (included in Other current assets). See Details »


Adjustments to Total Assets

Automatic Data Processing Inc., adjusted total assets

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Total assets 37,088,700  37,180,000  43,670,000  33,110,500  32,051,700  32,268,100 
Adjustments
Add: Operating leased assets1 484,694  428,436  445,608  320,900  559,374  501,653 
Add: Allowance for doubtful accounts 51,300  49,600  38,100  35,500  55,700  50,900 
Less: Current deferred tax assets (included in Other current assets)2 –  –  –  33,000  29,400  26,300 
Less: Long-term deferred tax assets (included in Other assets)3 90,100  93,400  100,300  61,900  76,600  89,400 
After Adjustment
Adjusted total assets 37,534,594  37,564,636  44,053,408  33,372,000  32,560,774  32,704,953 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

1 Operating leased assets. See Details »

2 Current deferred tax assets (included in Other current assets). See Details »

3 Long-term deferred tax assets (included in Other assets). See Details »


Adjustments to Current Liabilities

Automatic Data Processing Inc., adjusted current liabilities

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Current liabilities 30,413,600  29,815,900  35,847,400  27,113,700  23,908,000  24,732,800 
Adjustments
Less: Current deferred tax liabilities (included in Accrued expenses and other current liabilities)1 –  –  –  57,000  97,500  138,000 
Less: Short-term deferred revenues 226,500  232,900  233,200  228,600  332,600  316,400 
After Adjustment
Adjusted current liabilities 30,187,100  29,583,000  35,614,200  26,828,100  23,477,900  24,278,400 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

1 Current deferred tax liabilities (included in Accrued expenses and other current liabilities). See Details »


Adjustments to Total Liabilities

Automatic Data Processing Inc., adjusted total liabilities

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Total liabilities 33,629,100  33,203,000  39,188,400  28,302,000  25,381,500  26,078,200 
Adjustments
Add: Operating lease obligations1 484,694  428,436  445,608  320,900  559,374  501,653 
Less: Current deferred tax liabilities (included in Accrued expenses and other current liabilities)2 –  –  –  57,000  97,500  138,000 
Less: Long-term deferred tax liabilities3 107,300  163,100  251,100  172,100  288,800  234,400 
Less: Deferred revenues 604,300  624,300  614,300  591,300  845,800  809,600 
After Adjustment
Adjusted total liabilities 33,402,194  32,844,036  38,768,608  27,802,500  24,708,774  25,397,853 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

1 Operating lease obligations. See Details »

2 Current deferred tax liabilities (included in Accrued expenses and other current liabilities). See Details »

3 Long-term deferred tax liabilities. See Details »


Adjustments to Stockholders' Equity

Automatic Data Processing Inc., adjusted stockholders' equity

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Stockholders' equity 3,459,600  3,977,000  4,481,600  4,808,500  6,670,200  6,189,900 
Adjustments
Less: Net deferred tax assets (liabilities)1 (17,200) (69,700) (150,800) (134,200) (280,300) (256,700)
Add: Allowance for doubtful accounts 51,300  49,600  38,100  35,500  55,700  50,900 
Add: Deferred revenues 604,300  624,300  614,300  591,300  845,800  809,600 
After Adjustment
Adjusted stockholders' equity 4,132,400  4,720,600  5,284,800  5,569,500  7,852,000  7,307,100 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

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


Adjustments to Capitalization Table

Automatic Data Processing Inc., adjusted capitalization table

USD $ in thousands

Microsoft Excel LibreOffice Calc
Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Obligations under reverse repurchase agreements –  –  –  –  –  245,900 
Obligations under commercial paper borrowings –  –  –  –  2,173,000  – 
Long-term debt 2,002,400  2,002,400  2,007,700  9,200  11,500  14,700 
Total reported debt 2,002,400  2,002,400  2,007,700  9,200  2,184,500  260,600 
Stockholders' equity 3,459,600  3,977,000  4,481,600  4,808,500  6,670,200  6,189,900 
Total reported capital 5,462,000  5,979,400  6,489,300  4,817,700  8,854,700  6,450,500 
Adjustments to Debt
Add: Operating lease obligations1 484,694  428,436  445,608  320,900  559,374  501,653 
Adjusted total debt 2,487,094  2,430,836  2,453,308  330,100  2,743,874  762,253 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)2 (17,200) (69,700) (150,800) (134,200) (280,300) (256,700)
Add: Allowance for doubtful accounts 51,300  49,600  38,100  35,500  55,700  50,900 
Add: Deferred revenues 604,300  624,300  614,300  591,300  845,800  809,600 
Adjusted stockholders' equity 4,132,400  4,720,600  5,284,800  5,569,500  7,852,000  7,307,100 
After Adjustment
Adjusted total capital 6,619,494  7,151,436  7,738,108  5,899,600  10,595,874  8,069,353 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

1 Operating lease obligations. See Details »

2 Net deferred tax assets (liabilities). See Details »


Adjustments to Revenues

Automatic Data Processing Inc., adjusted revenues

USD $ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Revenues 13,325,800  12,379,800  11,667,800  10,938,500  12,206,500  11,310,100 
Adjustments
Add: Increase (decrease) in deferred revenues (20,000) 10,000  23,000  (21,000) 38,000  30,200 
After Adjustment
Adjusted revenues 13,305,800  12,389,800  11,690,800  10,917,500  12,244,500  11,340,300 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).


Adjustments to Reported Income

Automatic Data Processing Inc., adjusted net earnings

USD $ in thousands

Microsoft Excel LibreOffice Calc
12 months ended Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015 Jun 30, 2014 Jun 30, 2013
As Reported
Net earnings 1,620,800  1,733,400  1,492,500  1,452,500  1,515,900  1,405,800 
Adjustments
Add: Deferred income tax expense (benefit)1 500  8,100  700  (15,300) (50,300) 24,600 
Add: Increase (decrease) in allowance for doubtful accounts 1,700  11,500  2,600  (7,200) 5,500  4,800 
Add: Increase (decrease) in deferred revenues (20,000) 10,000  23,000  (21,000) 38,000  30,200 
Less: Net earnings (loss) from discontinued operations –  –  (900) 76,000  13,300  41,700 
Add: Other comprehensive income (loss), net of tax (259,300) (164,100) 45,500  (350,600) 162,800  (214,800)
After Adjustment
Adjusted net earnings 1,343,700  1,598,900  1,565,200  982,400  1,658,600  1,208,900 

Based on: 10-K (filing date: 2018-08-03), 10-K (filing date: 2017-08-04), 10-K (filing date: 2016-08-05), 10-K (filing date: 2015-08-07), 10-K (filing date: 2014-08-08), 10-K (filing date: 2013-08-19).

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