自动数据处理 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Quarterly Period Ended December 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 1-5397__________________________ AUTOMATIC DATA PROCESSING, INC.(Exact name of registrant as specified in its charter)__________________________ Registrant's telephone number, including area code:(973) 974-5000__________________________ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90days.YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreportingcompany,”and"emerginggrowthcompany"inRule12b-2oftheExchangeAct. Large Accelerated Filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of theExchange Act).Yes☐No The number of shares outstanding of the registrant’s common stock as of January26, 2026 was 402,644,364. Table of Contents Item1.Financial Statements (Unaudited)Statements of Consolidated EarningsThree and six months ended December 31, 2025 and 20243Statements of Consolidated Comprehensive IncomeThree and six months ended December 31, 2025 and 20244Consolidated Balance SheetsAt December 31, 2025 and June 30, 20255Statements of Consolidated Cash FlowsSix months ended December 31, 2025 and 20246Notes to the Consolidated Financial Statements7Item2.Management’s Discussion and Analysis of Financial Condition and Resultsof Operations27Item3.Quantitative and Qualitative Disclosures About Market Risk42Item4.Controls and Procedures42PART II – OTHER INFORMATIONItem1.Legal Proceedings42Item1A.Risk Factors43Item2.Unregistered Sales of Equity Securities and Use of Proceeds43Item 5.Other Information43Item6.Exhibits44Signatures45 (A) As of December31, 2025, $45.7 millionof short-term marketable securities and $0.1 million of cash and cash equivalents have been pledged as collateral under theCompany's reverse repurchase agreements. As of June30, 2025, $38.4 millionof short-term marketable securities have been pledged as collateral under the Company'sreverse repurchase agreements (see Note 10). See notes to the Consolidated Financial Statements. Automatic Data Processing, Inc. and SubsidiariesStatements of Consolidated Cash Flows(In millions)(Unaudited) Automatic Data Processing, Inc. and SubsidiariesNotes to the Consolidated Financial Statements(Tabular dollars in millions, except per share amounts or where otherwise stated) (Unaudited)Note 1.Basis of Presentation The accompanying Consolidated Financial Statements and footnotes thereto of Automatic Data Processing, Inc., its subsidiaries andvariable interest entity (“ADP” or the “Company”) have been prepared in accordance with accounting principles generally accepted inthe United States of America (“U.S. GAAP”). Intercompany balances and transactions have been eliminated in consolidation.TheConsolidated Financial Statements and footnotes thereto are unaudited.In the opinion of the Company’s management, theConsolidated Financial Statements reflect all adjustments, which are of a normal recurring nature, that are necessary for a fairpresentation of the Company’s interim financial results. The Company has a grantor trust, which holds the majority of the funds provided by its clients pending remittance to employees ofthose clients, tax authorities, and other payees.The Company is the sole beneficial owner of the trust.The trust meets the criteria inAccounting Standards Codification (“ASC”) 810, “Consolidation” to be characterized as a variable interest entity (“VIE”).TheCompany has determined that it has a controlling financial interest in the trust because it has both (1) the power to direct the activitiesthat most significantly impact the economic performance of the trust (including the p