ADP Files 2024 Annual Report on Form 10-K

Ticker: ADP · Form: 10-K · Filed: Aug 7, 2024 · CIK: 8670

Sentiment: neutral

Topics: annual-report, sec-filing, compliance

Related Tickers: ADP

TL;DR

ADP filed its 2024 10-K, confirming compliance with SEC reporting. All good.

AI Summary

Automatic Data Processing, Inc. (ADP) filed its annual report for the fiscal year ended June 30, 2024. The company, incorporated in Delaware with its principal executive offices in Roseland, NJ, is registered with the SEC under file number 1-5397. Its common stock is traded on the NASDAQ Global Select Market under the symbol ADP. The filing confirms ADP has met all reporting requirements for the preceding 12 months and submitted all interactive data files.

Why It Matters

This filing provides a comprehensive overview of ADP's financial performance and operational status for the fiscal year 2024, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a routine annual report and does not indicate any immediate or significant new risks.

Key Numbers

Key Players & Entities

FAQ

What is the fiscal year end date for this 10-K filing?

The fiscal year end date for this 10-K filing is June 30, 2024.

What is the trading symbol for Automatic Data Processing, Inc.'s common stock?

The trading symbol for Automatic Data Processing, Inc.'s common stock is ADP.

On which exchange is ADP's common stock registered?

ADP's common stock is registered on the NASDAQ Global Select Market.

In which state was Automatic Data Processing, Inc. incorporated?

Automatic Data Processing, Inc. was incorporated in Delaware.

What is the address of ADP's principal executive offices?

The address of ADP's principal executive offices is One ADP Boulevard, Roseland, NJ 07068.

Filing Stats: 4,423 words · 18 min read · ~15 pages · Grade level 14.9 · Accepted 2024-08-07 15:06:59

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 17

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 24

Cybersecurity

Item 1C. Cybersecurity 24

Properties

Item 2. Properties 25

Legal Proceedings

Item 3. Legal Proceedings 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26 Part II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 27

Selected Financial Data

Item 6. Selected Financial Data 28

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 42

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 43

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78

Controls and Procedures

Item 9A. Controls and Procedures 78

Other Information

Item 9B. Other Information 82

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 82 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 83

Executive Compensation

Item 11. Executive Compensation 84

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 85

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 85

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 85 Part IV.

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 85 Signatures 90 2 Part I

Business

Item 1. Business CORPORATE BACKGROUND General In 1949, our founders established ADP to shape the world of work with a simple, innovative idea: help clients focus on their business by solving their payroll challenges. Today, we are one of the world's leading global technology companies providing comprehensive cloud-based human capital management (HCM) solutions that unite HR, payroll, talent, time, tax and benefits administration. Our unmatched experience, expertise, insights and cutting-edge technology have transformed HCM from an administrative challenge to a strategic business advantage. Tailored to meet the needs of businesses of all sizes, we help them work smarter today so they can have more success tomorrow. We serve over 1.1 million clients and pay over 42 million workers in over 140 countries and territories. Our common stock is listed on the NASDAQ Global Select Market under the symbol "ADP." When we refer to "we," "us," "our," "ADP," or the "Company" in this Annual Report on Form 10-K, we mean Automatic Data Processing, Inc. and its consolidated subsidiaries. 3 BUSINESS OVERVIEW ADP's Mission Our mission is to power organizations with insightful Human Capital Management (HCM) solutions that meet the changing needs of our clients and their workers. Data, digital technology, artificial intelligence, globalization, new business models and other significant events and disruptions continuously reshape the way people work. Our HCM technology, industry and compliance expertise and data insights deliver measurable results and peace-of-mind, and contribute to an engaged, productive workforce. Our leading technology and commitment to service excellence are at the core of our relationship with each one of our clients, whether it's a small, mid-sized or large organization operating in one or multiple countries around the world. We are always designing better ways to work through cutting-edge products, premium services and exceptional experiences that enab

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing