Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Automatic Data Processing Inc., consolidated income statement

US$ in thousands

12 months ended:	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016
Revenues, other than interest on funds held for clients and PEO revenues	9,768,600)	9,538,100)	9,375,800)	8,985,200)	8,518,100)	8,234,000)
Interest on funds held for clients	422,400)	545,200)	561,900)	466,500)	397,400)	377,300)
Professional Employer Organization (PEO) revenues	4,814,400)	4,506,500)	4,237,500)	3,874,100)	3,464,300)	3,056,500)
Revenues	15,005,400)	14,589,800)	14,175,200)	13,325,800)	12,379,800)	11,667,800)
Operating expenses	(7,520,700)	(7,404,100)	(7,145,900)	(6,937,900)	(6,416,100)	(6,025,000)
Systems development and programming costs	(716,600)	(674,100)	(636,300)	(630,200)	(627,500)	(603,700)
Depreciation and amortization	(403,000)	(366,900)	(304,400)	(274,500)	(226,200)	(211,600)
Costs of revenues	(8,640,300)	(8,445,100)	(8,086,600)	(7,842,600)	(7,269,800)	(6,840,300)
Gross profit	6,365,100)	6,144,700)	6,088,600)	5,483,200)	5,110,000)	4,827,500)
Selling, general, and administrative expenses	(3,040,500)	(3,003,000)	(3,064,200)	(2,971,500)	(2,783,200)	(2,637,000)
Operating income	3,324,600)	3,141,700)	3,024,400)	2,511,700)	2,326,800)	2,190,500)
Interest expense	(59,700)	(107,100)	(129,900)	(102,700)	(80,000)	(56,200)
Interest income on corporate funds	36,500)	84,500)	97,600)	83,500)	76,700)	62,400)
Realized gains (losses) on available-for-sale securities, net	11,300)	12,900)	(900)	(2,500)	2,200)	(5,000)
Impairment of assets	(19,900)	(29,900)	(12,100)	—)	—)	—)
Gain on sale of assets	8,100)	5,800)	4,100)	700)	—)	13,900)
Gain on sale of investment	1,700)	200)	15,700)	—)	—)	—)
Gain on sale of business	—)	—)	—)	—)	205,400)	29,100)
Non-service components of pension income (expense), net	58,600)	74,500)	6,700)	(319,600)	—)	—)
Other income (expense), net	96,300)	148,000)	111,100)	(237,900)	284,300)	100,400)
Earnings from continuing operations before income taxes	3,361,200)	3,182,600)	3,005,600)	2,171,100)	2,531,100)	2,234,700)
Provision for income taxes	(762,700)	(716,100)	(712,800)	(550,300)	(797,700)	(741,300)
Net earnings from continuing operations	2,598,500)	2,466,500)	2,292,800)	1,620,800)	1,733,400)	1,493,400)
Net loss from discontinued operations	—)	—)	—)	—)	—)	(900)
Net earnings	2,598,500)	2,466,500)	2,292,800)	1,620,800)	1,733,400)	1,492,500)

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).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Automatic Data Processing Inc. revenues increased from 2019 to 2020 and from 2020 to 2021.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Automatic Data Processing Inc. operating income increased from 2019 to 2020 and from 2020 to 2021.
Earnings from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Automatic Data Processing Inc. earnings from continuing operations before income taxes increased from 2019 to 2020 and from 2020 to 2021.
Net earnings	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Automatic Data Processing Inc. net earnings increased from 2019 to 2020 and from 2020 to 2021.

Automatic Data Processing Inc. (NASDAQ:ADP)

Income Statement