Rendering

Component: (Network and Table)
Network
2323301 - Disclosure - Employee Benefit Plans (Tables)
(http://www.adp.com/role/EmployeeBenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2015-07-01 - 2016-06-30
Compensation and Retirement Disclosure [Abstract]
 
Components Of Stock-Based Compensation Expense
Years ended June 30,
 
2016
 
2015
 
2014
Operating expenses
 
$
23.1

 
$
27.0

 
$
21.7

Selling, general and administrative expenses
 
97.4

 
95.8

 
79.5

System development and programming costs
 
17.1

 
20.4

 
15.9

Total pretax stock-based compensation expense
 
$
137.6

 
$
143.2

 
$
117.1

 
 
 
 
 
 
 
Income tax benefit
 
$
49.6

 
$
51.1

 
$
42.2

 
 
Changes In Stock Options Outstanding
 
 
Number
of Options
(in thousands)
 
Weighted
Average Price
(in dollars)
Options outstanding at July 1, 2015
 
5,888

 
$
55

Options granted
 
1,138

 
$
75

Options exercised
 
(1,982
)
 
$
41

Options canceled
 
(175
)
 
$
70

Options outstanding at June 30, 2016
 
4,869

 
$
65

Options exercisable at June 30, 2016
 
2,197

 
$
54

Shares available for future grants, end of year
 
20,469

 
 
Shares reserved for issuance under stock option plans, end of year
 
25,338

 
 
 
 
Time Based Restricted Shares and Units
 
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2015
 
2,137

 
486

Restricted shares/units granted
 
1,018

 
244

Restricted shares/units vested
 
(1,134
)
 
(245
)
Restricted shares/units forfeited
 
(132
)
 
(51
)
Restricted shares/units outstanding at June 30, 2016
 
1,889

 
434

 
 
Performance Based Restricted shares and units
 
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2015
 
903

 
534

Restricted shares/units granted
 
286

 
358

Restricted shares/units vested
 
(540
)
 
(37
)
Restricted shares/units forfeited
 
(75
)
 
(44
)
Restricted shares/units outstanding at June 30, 2016
 
574

 
811

 
 
Assumptions Used To Estimate Fair Value For Stock Options Granted
 
2016
 
2015
 
2014
Risk-free interest rate
1.6
%
 
1.5
%
 
1.7
%
Dividend yield
2.6
%
 
2.3
%
 
2.4
%
Weighted average volatility factor
25.6
%
 
23.4
%
 
23.8
%
Weighted average expected life (in years)
5.4

 
5.4

 
5.4

Weighted average fair value (in dollars) (A)
$
13.16

 
$
14.29

 
$
11.89

 
 
Weighted average fair value of restricted stock granted
Year ended June 30,
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
Performance-based restricted stock (A)
 
$
75.95

 
$
64.91

 
$
53.08

Time-based restricted stock (A)
 
$
76.09

 
$
73.83

 
$
62.85

 
 
Schedule of Net Funded Status
June 30,
 
2016
 
2015
 
 
 
 
 
Change in plan assets:
 
 
 
 
Fair value of plan assets at beginning of year
 
$
2,009.8

 
$
2,024.1

Actual return on plan assets
 
61.2

 
60.6

Employer contributions
 
11.0

 
9.9

Currency translation adjustments
 
(8.7
)
 
(8.8
)
Benefits paid
 
(67.0
)
 
(76.0
)
Fair value of plan assets at end of year
 
$
2,006.3

 
$
2,009.8

 
 
 
 
 
Change in benefit obligation:
 
 
 
 
Benefit obligation at beginning of year
 
$
1,661.0

 
$
1,598.7

Service cost
 
70.4

 
68.4

Interest cost
 
67.4

 
62.8

Actuarial losses
 
145.3

 
21.7

Currency translation adjustments
 
(7.6
)
 
(17.5
)
Plan changes
 
(25.6
)
 

Curtailments and special termination benefits
 

 
2.9

Benefits paid
 
(67.0
)
 
(76.0
)
Projected benefit obligation at end of year
 
$
1,843.9

 
$
1,661.0

 
 
 
 
 
Funded status - plan assets less benefit obligations
 
$
162.4

 
$
348.8

 
 
Schedule of Amounts Recognized in Balance Sheet
June 30,
 
2016
 
2015
 
 
 
 
 
Noncurrent assets
 
$
306.5

 
$
475.7

Current liabilities
 
(6.9
)
 
(5.9
)
Noncurrent liabilities
 
(137.2
)
 
(121.0
)
Net amount recognized
 
$
162.4

 
$
348.8

 
 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
June 30,
 
2016
 
2015
 
 
 
 
 
Projected benefit obligation
 
$
165.7

 
$
131.5

Accumulated benefit obligation
 
$
148.2

 
$
117.4

Fair value of plan assets
 
$
21.6

 
$
4.5

 
 
Components Of Net Pension Expense
 
 
2016
 
2015
 
2014
Service cost – benefits earned during the period
 
$
70.4

 
$
68.4

 
$
66.4

Interest cost on projected benefits
 
67.4

 
62.8

 
62.6

Expected return on plan assets
 
(131.2
)
 
(129.7
)
 
(119.4
)
Net amortization and deferral
 
11.0

 
17.2

 
20.1

Special termination benefits and plan curtailments
 
0.1

 
3.2

 

Net pension expense
 
$
17.7

 
$
21.9

 
$
29.7

 
 
Schedule of Assumptions Used
Years ended June 30,
 
2016
 
2015
 
 
 
 
 
Discount rate
 
3.40
%
 
4.25
%
Increase in compensation levels
 
4.00
%
 
4.00
%
 
 
Defined Benefit Plan Assumptions Used Calculating Net Pension Expense
Years ended June 30,
 
2016
 
2015
 
2014
 
 
 
 
 
 
 
Discount rate
 
4.25
%
 
4.05
%
 
4.50
%
Expected long-term rate of return on assets
 
7.00
%
 
7.25
%
 
7.25
%
Increase in compensation levels
 
4.00
%
 
4.00
%
 
4.00
%
 
 
Schedule of Allocation of Plan Assets
 
 
2016
 
2015
 
 
 
 
 
Cash and cash equivalents
 
3
%
 
9
%
Fixed income securities
 
42
%
 
33
%
U.S. equity securities
 
18
%
 
17
%
International equity securities
 
14
%
 
19
%
Global equity securities
 
23
%
 
22
%
 
 
100
%
 
100
%
 
 
Defined Benefit Plan Target Allocation Percentage
U.S. fixed income securities
35% - 45%
U.S. equity securities
14% - 24%
International equity securities
11% - 21%
Global equity securities
20% - 30%
 
 
Fair Value, Measurement Inputs, Disclosure
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$

 
$
1,029.2

 
$

 
$
1,029.2

Government securities
 

 
371.5

 

 
371.5

Mutual funds
 
76.6

 

 

 
76.6

Corporate and municipal bonds
 

 
433.4

 

 
433.4

Mortgage-backed security bonds
 

 
35.3

 

 
35.3

Total pension asset investments
 
$
76.6

 
$
1,869.4

 
$

 
$
1,946.0


In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $60.3 million as of June 30, 2016, which have been classified as Level 1 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2015:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$

 
$
1,082.7

 
$

 
$
1,082.7

U.S. government securities
 

 
270.7

 

 
270.7

Mutual funds
 
89.0

 

 

 
89.0

Corporate and municipal bonds
 

 
347.5

 

 
347.5

Mortgage-backed security bonds
 

 
34.5

 

 
34.5

Total pension asset investments
 
$
89.0

 
$
1,735.4

 
$

 
$
1,824.4