|
Condensed Consolidated and Combined Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash Flows from Operating Activities: |
|
|
| Net earnings |
$ 143.6 |
$ 181.2 |
| Adjustments to reconcile net earnings to cash flows provided by operating activities: |
|
|
| Depreciation and amortization |
57.1 |
39.6 |
| Deferred income taxes |
(2.0) |
(14.1) |
| Stock-based compensation expense |
22.0 |
15.0 |
| Pension expense |
0.8 |
2.9 |
| Other |
(5.9) |
(7.1) |
| Changes in operating assets and liabilities, net of effects from acquisitions and divestitures of businesses: |
|
|
| Increase in accounts receivable |
(55.6) |
(36.0) |
| Increase in other assets |
(19.1) |
(11.7) |
| Increase/(decrease) in accounts payable |
4.7 |
(2.5) |
| Increase/(decrease) in accrued expenses and other liabilities |
14.6 |
(24.7) |
| Net cash flows provided by operating activities |
160.2 |
142.6 |
| Cash Flows from Investing Activities: |
|
|
| Capital expenditures |
(27.2) |
(30.4) |
| Proceeds from sale of property, plant and equipment |
0.9 |
0 |
| Capitalized software |
(7.5) |
(4.6) |
| Acquisitions of businesses, net of cash acquired |
0 |
(25.7) |
| Contributions to investments |
(14.6) |
0 |
| Proceeds from (advances) on notes receivable from ADP and its affiliates |
40.6 |
(2.5) |
| Net cash flows used in investing activities |
(7.8) |
(63.2) |
| Cash Flows from Financing Activities: |
|
|
| Repayments of notes payable to ADP and its affiliates |
(21.9) |
(2.1) |
| Borrowings on notes payable to ADP and its affiliates |
0 |
1.0 |
| Net transactions of parent company investment |
(240.8) |
12.1 |
| Proceeds from long-term debt |
1,750.0 |
0 |
| Repayments of long-term debt |
(756.2) |
0 |
| Dividend paid to ADP at separation |
(825.0) |
0 |
| Dividends paid to stockholders |
(38.8) |
0 |
| Repurchases of common stock |
(32.2) |
0 |
| Proceeds from exercises of stock options |
6.9 |
0 |
| Excess tax benefit from stock-based compensation awards |
9.7 |
7.2 |
| Withholding tax payment for stock-based compensation awards |
(0.9) |
0 |
| Payment of deferred financing costs |
(9.2) |
0 |
| Dividend payments of CVR to noncontrolling owners |
(5.4) |
(8.0) |
| Net cash flows (used in) provided by financing activities |
(163.8) |
10.2 |
| Effect of exchange rate changes on cash and cash equivalents |
(22.9) |
(5.9) |
| Net change in cash and cash equivalents |
(34.3) |
83.7 |
| Cash and cash equivalents, beginning of period |
402.8 |
276.3 |
| Cash and cash equivalents, end of period |
368.5 |
360.0 |
| Cash paid for: |
|
|
| Income taxes and foreign withholding taxes, net of refunds |
67.3 |
13.2 |
| Interest |
$ 2.7 |
$ 0.7 |