Paychex, Inc. (PAYX) FY2024 Annual Statement of Cash Flows
2023-06-01 to 2024-05-31
Statement of Cash Flows
2023-06-01 to 2024-05-31
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Chart details
Paychex, Inc. cash flow reconciliation, Jun 1, 2023 through May 31, 2024
Cash flows for Jun 1, 2023 through May 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: May 31, 2023. Ending cash: May 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on May 31, 2023
- 2,134,900,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- 1,897,700,000 US dollars. Net cash provided.
- Net income
- 1,690,400,000 US dollars
- Depreciation and amortization
- 176,500,000 US dollars
- Amortization of premiums and discounts on AFS securities, net
- negative 7,000,000 US dollars
- Net realized losses on disposal of assets
- 32,800,000 US dollars
- Amortization of deferred contract costs
- 231,700,000 US dollars
- Stock-based compensation costs
- 61,100,000 US dollars
- Net realized losses/(gains) on sales of AFS securities
- 2,600,000 US dollars
- (Benefit from)/provision for deferred income taxes
- negative 29,800,000 US dollars
- Provision for credit losses
- 19,800,000 US dollars
- Interest receivable
- 1,100,000 US dollars
- Accounts receivable and PEO unbilled receivables, net
- 113,000,000 US dollars
- Prepaid expenses and other current assets
- negative 25,200,000 US dollars
- Accounts payable and other current liabilities
- negative 127,000,000 US dollars
- Deferred costs
- negative 244,900,000 US dollars
- Net change in other long-term assets and liabilities
- 6,100,000 US dollars
- Net change in operating lease right-of-use assets and liabilities
- negative 3,500,000 US dollars
- Investing activities
- negative 260,900,000 US dollars. Net cash used.
- Purchases of AFS securities
- negative 6,868,500,000 US dollars
- Net change in purchased receivables
- negative 153,800,000 US dollars
- Proceeds from sales and maturities of AFS securities
- 7,161,200,000 US dollars
- Proceeds from sales of property and equipment
- 0 US dollars
- Purchases of property and equipment
- negative 161,400,000 US dollars
- Acquisition of businesses, net of cash acquired
- negative 208,300,000 US dollars
- Purchases of other assets
- negative 30,100,000 US dollars
- Financing activities
- negative 1,874,700,000 US dollars. Net cash used.
- Net change in client fund obligations
- negative 425,300,000 US dollars
- Net proceeds from short-term borrowings
- 9,000,000 US dollars
- Dividends paid
- negative 1,315,300,000 US dollars
- Repurchases of common shares
- negative 169,200,000 US dollars
- Activity related to equity-based plans
- 26,100,000 US dollars
- Operating adjustment reconciliation
- 644,700,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 1,909,800,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 7,422,100,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- 0 US dollars
- Ending cash on May 31, 2024
- 1,897,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 4,032,600,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- negative 237,900,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- 1.12×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- Operating cash flow
- 1,897,700,000 US dollars. Operating cash flow used in the free cash flow calculation.
- Cash purchases of property, plant and equipment
- 161,400,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- 1,736,300,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $207.30M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 1,897,700,000 US dollars minus 161,400,000 US dollars equals 1,736,300,000 US dollars.
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