Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Automatic Data Processing Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015
Accounts payable	81,700)	103,500)	77,800)	141,100)	112,200)	113,900)	111,200)	102,000)	115,500)	132,900)	108,800)	125,500)	156,300)	151,300)	131,800)	135,400)	105,700)	136,800)	112,600)	149,700)	126,500)	137,400)	117,800)	152,300)	158,400)	138,700)	146,500)
Accrued expenses and other current liabilities	2,100,600)	1,937,000)	1,796,100)	1,963,300)	2,000,900)	1,778,100)	1,900,200)	1,980,700)	1,978,700)	2,051,500)	1,994,600)	1,759,000)	1,678,700)	2,057,800)	1,603,500)	1,547,700)	1,505,300)	1,583,900)	1,440,400)	1,381,900)	1,336,200)	1,420,300)	1,279,600)	1,246,800)	1,344,700)	1,121,800)	1,252,200)
Accrued payroll and payroll-related expenses	765,600)	590,100)	552,700)	910,200)	762,100)	587,400)	494,700)	557,000)	564,000)	428,700)	443,600)	721,100)	607,400)	445,100)	446,900)	667,700)	595,800)	496,600)	441,100)	562,500)	527,100)	444,700)	413,200)	616,700)	514,700)	491,700)	405,600)
Dividends payable	431,700)	433,600)	389,500)	390,800)	392,700)	394,400)	387,100)	387,300)	387,900)	389,300)	339,100)	340,100)	340,000)	341,000)	298,800)	298,900)	275,100)	275,200)	249,000)	250,500)	251,000)	253,200)	237,300)	238,400)	238,800)	239,600)	225,700)
Short-term deferred revenues	197,500)	189,400)	191,600)	203,900)	200,700)	207,700)	205,000)	212,500)	215,800)	210,400)	213,100)	220,700)	228,300)	224,000)	229,000)	226,500)	235,400)	227,500)	230,500)	232,900)	227,200)	215,400)	220,600)	233,200)	243,900)	215,200)	218,100)
Obligations under reverse repurchase agreements	—)	—)	45,800)	23,500)	—)	—)	—)	13,600)	—)	—)	428,600)	262,000)	—)	—)	453,000)	—)	—)	—)	129,400)	—)	—)	—)	—)	—)	—)	—)	—)
Obligations under commercial paper borrowings	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	3,536,700)	—)	—)	1,206,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Short-term debt	—)	—)	—)	—)	—)	—)	—)	1,001,800)	1,001,800)	1,001,600)	1,001,300)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Income taxes payable	141,500)	63,800)	179,300)	58,200)	103,600)	28,900)	133,000)	40,100)	50,100)	38,100)	123,700)	54,800)	99,700)	29,400)	75,400)	43,900)	80,200)	22,800)	87,000)	49,000)	133,800)	82,700)	101,700)	28,200)	68,600)	23,400)	99,000)
Current liabilities before client funds obligations	3,718,600)	3,317,400)	3,232,800)	3,691,000)	3,572,200)	3,110,400)	3,231,200)	4,295,000)	4,313,800)	4,252,500)	8,189,500)	3,483,200)	3,110,400)	4,454,600)	3,238,400)	2,920,100)	2,797,500)	2,742,800)	2,690,000)	2,626,500)	2,601,800)	2,553,700)	2,370,200)	2,515,600)	2,569,100)	2,230,400)	2,347,100)
Client funds obligations	59,387,900)	45,766,600)	46,437,100)	34,403,800)	41,043,000)	36,066,100)	29,098,400)	25,831,600)	30,359,000)	36,269,900)	21,011,400)	29,144,500)	36,055,600)	25,842,300)	25,798,900)	27,493,500)	33,943,700)	34,508,100)	25,596,600)	27,189,400)	33,816,700)	30,402,600)	24,349,100)	33,331,800)	40,681,300)	30,237,700)	24,240,200)
Current liabilities	63,106,500)	49,084,000)	49,669,900)	38,094,800)	44,615,200)	39,176,500)	32,329,600)	30,126,600)	34,672,800)	40,522,400)	29,200,900)	32,627,700)	39,166,000)	30,296,900)	29,037,300)	30,413,600)	36,741,200)	37,250,900)	28,286,600)	29,815,900)	36,418,500)	32,956,300)	26,719,300)	35,847,400)	43,250,400)	32,468,100)	26,587,300)
Long-term debt	2,986,600)	2,986,100)	2,985,500)	2,985,000)	1,994,300)	1,994,100)	1,993,900)	1,002,800)	1,002,800)	1,003,000)	1,003,400)	2,002,200)	2,002,300)	2,002,300)	2,002,400)	2,002,400)	2,002,400)	2,002,400)	2,002,100)	2,002,400)	2,002,500)	2,002,500)	2,007,700)	2,007,700)	2,007,700)	1,994,800)	1,995,200)
Long-term operating lease liabilities	344,900)	363,500)	345,700)	343,200)	360,900)	357,400)	330,400)	344,400)	361,200)	360,200)	355,400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other liabilities	954,200)	843,600)	813,600)	834,100)	806,500)	812,500)	813,900)	837,000)	745,600)	726,000)	707,900)	798,700)	759,800)	752,500)	736,400)	728,000)	795,800)	824,800)	835,500)	830,200)	836,100)	770,600)	734,000)	701,100)	707,500)	675,500)	648,000)
Deferred income taxes	135,600)	434,300)	469,300)	482,900)	592,000)	711,500)	743,000)	731,900)	732,200)	702,400)	708,200)	659,900)	615,800)	580,500)	533,200)	107,300)	105,500)	148,600)	196,000)	163,100)	108,900)	85,100)	244,500)	251,100)	281,600)	192,000)	162,900)
Long-term deferred revenues	347,400)	341,500)	352,500)	362,400)	364,900)	373,900)	370,400)	370,600)	378,100)	381,000)	378,200)	399,300)	406,200)	410,200)	428,600)	377,800)	391,400)	387,600)	387,500)	391,400)	386,800)	369,800)	381,800)	381,100)	375,200)	362,900)	356,700)
Noncurrent liabilities	4,768,700)	4,969,000)	4,966,600)	5,007,600)	4,118,600)	4,249,400)	4,251,600)	3,286,700)	3,219,900)	3,172,600)	3,153,100)	3,860,100)	3,784,100)	3,745,500)	3,700,600)	3,215,500)	3,295,100)	3,363,400)	3,421,100)	3,387,100)	3,334,300)	3,228,000)	3,368,000)	3,341,000)	3,372,000)	3,225,200)	3,162,800)
Total liabilities	67,875,200)	54,053,000)	54,636,500)	43,102,400)	48,733,800)	43,425,900)	36,581,200)	33,413,300)	37,892,700)	43,695,000)	32,354,000)	36,487,800)	42,950,100)	34,042,400)	32,737,900)	33,629,100)	40,036,300)	40,614,300)	31,707,700)	33,203,000)	39,752,800)	36,184,300)	30,087,300)	39,188,400)	46,622,400)	35,693,300)	29,750,100)
Preferred stock, $1.00 par value; issued, none	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.10 par value	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)	63,900)
Capital in excess of par value	1,736,800)	1,664,700)	1,579,100)	1,531,300)	1,479,800)	1,407,600)	1,348,400)	1,333,800)	1,315,100)	1,253,700)	1,213,700)	1,183,200)	1,140,200)	1,076,100)	1,035,100)	1,014,800)	964,100)	903,500)	869,800)	867,800)	833,500)	784,200)	750,400)	768,100)	735,800)	694,700)	659,600)
Retained earnings	20,504,500)	20,011,800)	19,754,800)	19,451,100)	19,307,500)	18,893,600)	18,644,700)	18,436,300)	18,416,500)	17,987,600)	17,729,600)	17,500,600)	17,368,600)	16,959,100)	16,741,100)	15,271,300)	15,466,100)	15,060,100)	14,872,400)	14,728,200)	14,717,700)	14,384,700)	14,130,200)	14,003,300)	13,957,200)	13,666,300)	13,568,600)
Treasury stock, at cost	(16,850,000)	(16,362,400)	(15,924,200)	(15,386,800)	(14,919,600)	(14,505,400)	(14,264,000)	(14,067,000)	(14,070,400)	(13,709,600)	(13,412,600)	(13,090,500)	(12,914,600)	(12,720,200)	(12,421,200)	(12,209,600)	(11,826,100)	(11,663,700)	(11,508,100)	(11,303,700)	(10,998,800)	(10,851,000)	(10,448,000)	(10,138,600)	(10,093,700)	(9,839,600)	(9,414,500)
Accumulated other comprehensive income (loss)	(1,262,300)	(328,400)	(122,900)	10,600)	(257,700)	40,300)	15,900)	(14,800)	(234,400)	(231,200)	(233,900)	(257,300)	(411,900)	(615,000)	(740,100)	(680,800)	(638,800)	(432,600)	(344,600)	(379,200)	(513,200)	(566,700)	(246,400)	(215,100)	(160,000)	(379,100)	(247,400)
Stockholders’ equity	4,192,900)	5,049,600)	5,350,700)	5,670,100)	5,673,900)	5,900,000)	5,808,900)	5,752,200)	5,490,700)	5,364,400)	5,360,700)	5,399,900)	5,246,200)	4,763,900)	4,678,800)	3,459,600)	4,029,200)	3,931,200)	3,953,400)	3,977,000)	4,103,100)	3,815,100)	4,250,100)	4,481,600)	4,503,200)	4,206,200)	4,630,200)
Total liabilities and stockholders’ equity	72,068,100)	59,102,600)	59,987,200)	48,772,500)	54,407,700)	49,325,900)	42,390,100)	39,165,500)	43,383,400)	49,059,400)	37,714,700)	41,887,700)	48,196,300)	38,806,300)	37,416,700)	37,088,700)	44,065,500)	44,545,500)	35,661,100)	37,180,000)	43,855,900)	39,999,400)	34,337,400)	43,670,000)	51,125,600)	39,899,500)	34,380,300)

Accounts Payable: The accounts payable balance exhibits notable fluctuations across the periods analyzed, with an overall downward trend from $146.5 million in September 2015 to a low of $77.8 million in September 2021, followed by an increase to approximately $81.7 million by March 2022. This variability indicates changes in short-term trade obligations and payment cycles.
Accrued Expenses and Other Current Liabilities: These liabilities trend upward overall, increasing from roughly $1.25 billion in September 2015 to over $2.1 billion by the end of March 2022. This steady rise suggests growing operational expenses accruing before payment, possibly due to business expansion or increased service activities.
Accrued Payroll and Payroll-Related Expenses: Accrued payroll expenses show pronounced seasonal and periodic volatility, peaking notably during certain quarters, such as June 2019 ($721 million) and December 2021 ($910 million). Despite fluctuations, there is an upward trajectory over the full period, indicating increased payroll obligations.
Dividends Payable: Dividends payable remain relatively stable, averaging around $300 million with a gradual increase to approximately $431.7 million in March 2022. This reflects consistent dividend policies with incremental growth in distributions.
Short-Term Deferred Revenues: Short-term deferred revenues stay fairly stable over the entire timeline, fluctuating near $200 million with minor decreases towards the latter periods. This stability reflects consistent recognition timing of short-term customer payments received in advance.
Obligations under Reverse Repurchase Agreements and Commercial Paper Borrowings: These categories appear intermittently and exhibit sharp spikes when recorded, for example, commercial paper borrowings spike to $1.2 billion in December 2016 and $3.5 billion in March 2017. Such volatility indicates reliance on short-term financing instruments at specific intervals, possibly for liquidity management.
Short-Term Debt: Short-term debt figures are primarily observed from 2019 onwards, remaining stable around $1 billion, suggesting a consistent usage or refinancing of short-term credit facilities during this period.
Income Taxes Payable: This liability fluctuates considerably, with some quarters showing spikes such as September 2019 ($123.7 million) and March 2022 ($179.3 million). The variability is indicative of changing taxable income and timing differences in tax payment obligations.
Current Liabilities before Client Funds Obligations: This measure shows general growth from approximately $2.35 billion in September 2015 to a peak around $8.19 billion in September 2019, followed by volatile decreases and increases thereafter. The stark rise in 2019 notably aligns with certain operational or financial events that temporarily increased liabilities.
Client Funds Obligations: Client funds obligations demonstrate substantial volatility with large swings between periods, peaking significantly in March 2022 at nearly $59.4 billion. These large balances reflect substantial fiduciary responsibilities, with fluctuations possibly linked to client cash flow cycles or regulatory changes.
Current Liabilities: Overall current liabilities track similarly to client funds obligations, aggregating over $63 billion by March 2022. The variations reveal dynamic management of short-term financial obligations, heavily influenced by client fund movements.
Long-Term Debt: Long-term debt remains mostly stable around $2 billion until the first half of 2019, when it drops to approximately $1 billion, followed by an increase to about $3 billion by the end of the dataset. This pattern suggests refinancing activities or issuance/redemption events impacting the company's long-term financing structure.
Long-Term Operating Lease Liabilities: These liabilities appear starting mid-2019 and maintain a value near $350 million to $360 million, showing modest fluctuations. This consistency indicates ongoing commitments related to leased assets.
Other Liabilities: Other liabilities rise gradually from $648 million in 2015 to close to $954 million by early 2022, reflecting increasing miscellaneous financial obligations that may relate to long-term contingencies or deferred items.
Deferred Income Taxes: This balance varies widely, exhibiting significant increases especially between 2017 and 2019, peaking above $700 million, but declines sharply in 2022 to about $135 million. The fluctuations likely relate to changes in tax laws, valuation reserves, or timing differences in book versus tax reporting.
Long-Term Deferred Revenues: Long-term deferred revenues remain relatively stable between $340 million and $430 million, suggesting steady recognition of revenues earned over longer periods.
Noncurrent Liabilities: Noncurrent liabilities generally increase from approximately $3.16 billion in 2015 to over $5 billion in 2021, before declining slightly by 2022. This trend points to growth in long-term obligations which may include debt, leases, or other liabilities.
Total Liabilities: Total liabilities show considerable volatility, ranging from $29.75 billion in 2015 to peaks exceeding $67.9 billion in early 2022. These swings largely correspond to the movements in client funds obligations and other sizeable liabilities, indicating substantial variations in the company's obligations over time.
Stockholders' Equity: Equity fluctuates between approximately $4.2 billion and $5.8 billion, peaking near mid-2020 before decreasing to about $4.2 billion by March 2022. The net decrease towards the end of the period could reflect dividend payments, share repurchases, or other equity transactions.
Common Stock and Capital in Excess of Par Value: The common stock value remains constant, while capital in excess of par shows consistent growth from roughly $660 million to $1.74 billion, indicating ongoing equity injections or retained capital increases.
Retained Earnings: Retained earnings demonstrate steady growth over the entire period, increasing from $13.5 billion to over $20.5 billion, reflecting ongoing profitability and accumulation of earnings net of distributions.
Treasury Stock: Treasury stock steadily increases in absolute value (negative equity adjustment), moving from -$9.4 billion to -$16.8 billion, indicating aggressive share repurchase programs reducing total outstanding shares.
Accumulated Other Comprehensive Income (Loss): This account shows significant volatility, primarily in the negative, reaching lows of approximately -$1.26 billion in early 2022. These fluctuations likely correspond to unrealized losses on investments, foreign currency translation adjustments, or other comprehensive income components.
Total Liabilities and Stockholders’ Equity: This combined figure aligns closely with total assets and grows from about $34.4 billion to a peak of $72.1 billion in March 2022, evidencing an overall expansion of the company's balance sheet over the analyzed quarters.

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Automatic Data Processing Inc. (NASDAQ:ADP)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data