Corporate Investments and Funds Held for Clients (Tables)

9 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Debt Securities, Available-for-Sale

Corporate investments and funds held for clients at March 31, 2025 and June 30, 2024 were as follows:


	March 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value (A)
Type of issue:
Money market securities, cash and other cash equivalents	$	8,199.2	$	—	$	—	$	8,199.2
Available-for-sale securities:
Corporate bonds	17,602.6		56.3		(536.7)		17,122.2
U.S. Treasury securities	8,494.6		56.1		(62.5)		8,488.2
Canadian government obligations and Canadian government agency obligations	2,167.1		21.1		(37.0)		2,151.2
U.S. government agency securities	1,588.4		2.0		(91.8)		1,498.6
Asset-backed securities	1,788.1		15.2		(21.1)		1,782.2
Canadian provincial bonds	1,131.8		14.6		(31.6)		1,114.8
Commercial mortgage-backed securities	467.2		0.4		(22.0)		445.6
Other securities	1,304.8		2.5		(53.5)		1,253.8

Total available-for-sale securities	34,544.6		168.2		(856.2)		33,856.6

Total corporate investments and funds held for clients	$	42,743.8	$	168.2	$	(856.2)	$	42,055.8

(A) Included within available-for-sale securities are funds held for clients with fair values of $33,856.6 million. There are no corporate investments included within available-for-sale securities at March 31, 2025. All available-for-sale securities were included in Level 2 of the fair value hierarchy.


	June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value (B)
Type of issue:
Money market securities, cash and other cash equivalents	$	10,086.0	$	—	$	—	$	10,086.0
Available-for-sale securities:
Corporate bonds	16,833.3		11.5		(944.8)		15,900.0
U.S. Treasury securities	7,701.2		9.0		(164.5)		7,545.7
Canadian government obligations and Canadian government agency obligations	2,130.7		1.7		(86.6)		2,045.8
U.S. government agency securities	1,645.0		0.5		(140.6)		1,504.9
Asset-backed securities	1,394.9		3.9		(43.0)		1,355.8
Canadian provincial bonds	1,116.3		2.3		(56.2)		1,062.4
Commercial mortgage-backed securities	535.9		—		(35.1)		500.8
Other securities	1,366.0		2.0		(75.9)		1,292.1

Total available-for-sale securities	32,723.3		30.9		(1,546.7)		31,207.5

Total corporate investments and funds held for clients	$	42,809.3	$	30.9	$	(1,546.7)	$	41,293.5

(B) Included within available-for-sale securities are corporate investments with fair values of $384.0 million and funds held for clients with fair values of $30,823.5 million. All available-for-sale securities were included in Level 2 of the fair value hierarchy.

Summary of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of March 31, 2025, are as follows:


	March 31, 2025
	Securities in Unrealized Loss Position Less Than 12 Months				Securities in Unrealized Loss Position Greater Than 12 Months				Total
	Gross Unrealized Losses		Fair Market Value		Gross Unrealized Losses		Fair Market Value		Gross Unrealized Losses		Fair Market Value
Corporate bonds	$	(18.9)	$	1,724.1	$	(517.8)	$	11,020.7	$	(536.7)	$	12,744.8
U.S. Treasury securities	(4.0)		1,004.4		(58.5)		2,780.4		(62.5)		3,784.8
Canadian government obligations and Canadian government agency obligations	(0.1)		19.9		(36.9)		1,115.6		(37.0)		1,135.5
U.S. government agency securities	(0.1)		22.9		(91.7)		1,304.1		(91.8)		1,327.0
Asset-backed securities	(1.3)		230.8		(19.8)		530.9		(21.1)		761.7
Canadian provincial bonds	(1.4)		68.6		(30.2)		599.1		(31.6)		667.7
Commercial mortgage-backed securities	(0.1)		4.0		(21.9)		419.5		(22.0)		423.5
Other securities	(3.2)		314.6		(50.3)		733.5		(53.5)		1,048.1
	$	(29.1)	$	3,389.3	$	(827.1)	$	18,503.8	$	(856.2)	$	21,893.1

The unrealized losses and fair values of available-for-sale securities that have been in an unrealized loss position for a period of less than and greater than 12 months as of June 30, 2024, are as follows:


	June 30, 2024
	Securities in Unrealized Loss Position Less Than 12 Months				Securities in Unrealized Loss Position Greater Than 12 Months				Total
	Gross Unrealized Losses		Fair Market Value		Gross Unrealized Losses		Fair Market Value		Gross Unrealized Losses		Fair Market Value
Corporate bonds	$	(25.8)	$	2,173.6	$	(919.0)	$	12,413.4	$	(944.8)	$	14,587.0
U.S. Treasury securities	(23.1)		2,186.2		(141.4)		4,076.9		(164.5)		6,263.1
Canadian government obligations and Canadian government agency obligations	(0.9)		304.6		(85.7)		1,591.6		(86.6)		1,896.2
U.S. government agency securities	(0.7)		51.5		(139.9)		1,428.2		(140.6)		1,479.7
Asset-backed securities	(2.3)		351.4		(40.7)		668.0		(43.0)		1,019.4
Canadian provincial bonds	(1.3)		193.0		(54.9)		717.4		(56.2)		910.4
Commercial mortgage-backed securities	(0.5)		11.2		(34.6)		489.6		(35.1)		500.8
Other securities	(12.2)		288.5		(63.7)		864.8		(75.9)		1,153.3
	$	(66.8)	$	5,560.0	$	(1,479.9)	$	22,249.9	$	(1,546.7)	$	27,809.9

Classification of Corporate Investments on the Consolidated Balance Sheets

Classification of corporate investments on the Consolidated Balance Sheets is as follows:


	March 31,		June 30,
	2025		2024
Corporate investments:
Cash and cash equivalents	$	2,680.6	$	2,913.4
Short-term marketable securities (a)	—		384.0
Long-term marketable securities (b)	—		—
Total corporate investments	$	2,680.6	$	3,297.4

(a) - Short-term marketable securities are included within Other current assets on the Consolidated Balance Sheets.

(b) - Long-term marketable securities are included within Other assets on the Consolidated Balance Sheets.

Schedule of Investment of Funds Held for Clients

Funds held for clients have been invested in the following categories:


	March 31,		June 30,
	2025		2024
Funds held for clients:
Restricted cash and cash equivalents held to satisfy client funds obligations	$	5,518.6	$	7,172.6
Restricted short-term marketable securities held to satisfy client funds obligations	8,454.4		5,538.1
Restricted long-term marketable securities held to satisfy client funds obligations	25,402.2		25,285.4
Total funds held for clients	$	39,375.2	$	37,996.1

Schedule of Expected Maturities of Available-for-Sale Securities

Expected maturities of available-for-sale securities at March 31, 2025 are as follows:


One year or less	$	8,454.4
One year to two years	6,522.9
Two years to three years	4,144.1
Three years to four years	5,217.7
After four years	9,517.5
Total available-for-sale securities	$	33,856.6

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

AUTOMATIC DATA PROCESSING INC 10-Q