- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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Automatic Data Processing Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
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Income Tax Expense (Benefit)
Automatic Data Processing Inc., income tax expense (benefit), continuing operations
US$ in thousands
12 months ended: | Jun 30, 2021 | Jun 30, 2020 | Jun 30, 2019 | Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | |||||||
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Deferred | |||||||||||||
Provision for income taxes |
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Automatic Data Processing Inc. current decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Automatic Data Processing Inc. deferred increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
Provision for income taxes | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Automatic Data Processing Inc. provision for income taxes increased from 2019 to 2020 and from 2020 to 2021. |
Effective Income Tax Rate (EITR)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Item | Description | The company |
---|---|---|
Effective tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Automatic Data Processing Inc. effective tax rate decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Automatic Data Processing Inc. deferred tax assets increased from 2019 to 2020 and from 2020 to 2021. |
Deferred tax assets, net | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Automatic Data Processing Inc. deferred tax assets, net increased from 2019 to 2020 and from 2020 to 2021. |
Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Automatic Data Processing Inc. net deferred tax assets (liabilities) decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Deferred Tax Assets and Liabilities, Classification
Automatic Data Processing Inc., deferred tax assets and liabilities, classification
US$ in thousands
Jun 30, 2021 | Jun 30, 2020 | Jun 30, 2019 | Jun 30, 2018 | Jun 30, 2017 | Jun 30, 2016 | ||
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Long-term deferred tax assets (included in Other assets) | |||||||
Long-term deferred tax liabilities |
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Item | Description | The company |
---|---|---|
Long-term deferred tax assets (included in Other assets) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Automatic Data Processing Inc. long-term deferred tax assets (included in Other assets) decreased from 2019 to 2020 but then slightly increased from 2020 to 2021. |
Long-term deferred tax liabilities | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Automatic Data Processing Inc. long-term deferred tax liabilities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Automatic Data Processing Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
Financial ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Automatic Data Processing Inc. adjusted net profit margin ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Automatic Data Processing Inc. adjusted total asset turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Automatic Data Processing Inc. adjusted financial leverage ratio decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Automatic Data Processing Inc. adjusted ROE improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Automatic Data Processing Inc. adjusted ROA improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Automatic Data Processing Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
2021 Calculations
1 Net profit margin = 100 × Net earnings ÷ Revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net earnings ÷ Revenues
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Automatic Data Processing Inc. adjusted net profit margin ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
2021 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Automatic Data Processing Inc. adjusted total asset turnover ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
2021 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Automatic Data Processing Inc. adjusted financial leverage ratio decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
2021 Calculations
1 ROE = 100 × Net earnings ÷ Stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted stockholders’ equity
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Automatic Data Processing Inc. adjusted ROE improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021 not reaching 2019 level. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).
2021 Calculations
1 ROA = 100 × Net earnings ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Automatic Data Processing Inc. adjusted ROA improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021. |