Paychex (Paychex) Interest Expense

: $-37 Mil (TTM As of Feb. 2024)

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Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Paychex's interest expense for the three months ended in Feb. 2024 was $ -10 Mil. Its interest expense for the trailing twelve months (TTM) ended in Feb. 2024 was $-37 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Paychex's Operating Income for the three months ended in Feb. 2024 was $ 650 Mil. Paychex's Interest Expense for the three months ended in Feb. 2024 was $ -10 Mil. Paychex's Interest Coverage for the quarter that ended in Feb. 2024 was 65.64. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Paychex Interest Expense Historical Data

The historical data trend for Paychex's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Paychex Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

Interest Expense

-17.60

-38.80

-35.80

-36.60

-36.70

Paychex Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Interest Expense																-9.00	-9.40	-9.40	-8.50	-9.90

Paychex Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Feb. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-37 Mil.

Paychex (NAS:PAYX) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Paychex's Interest Expense for the three months ended in Feb. 2024 was $-10 Mil. Its Operating Income for the three months ended in Feb. 2024 was $650 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Feb. 2024 was $850 Mil.

Paychex's Interest Coverage for the quarter that ended in Feb. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Feb. 2024 )	/	Interest Expense (Q: Feb. 2024 )
	=	-1	*	649.8	/	-9.9
	=	65.64

The higher the ratio, the stronger the company's financial strength is.

Paychex (Paychex) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Paychex Inc (NAS:PAYX) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

PCX:Germany PCX:Germany PCX:Germany

Address

911 Panorama Trail South, Rochester, NY, USA, 14625-2396

Website

https://www.paychex.com

Paychex is a leading provider of payroll, human capital management, and insurance solutions servicing small and midsize clients primarily in the United States. The company, established in 1979, services over 740,000 clients and pays over 1 in 12 U.S. private-sector workers. Alongside its traditional payroll services, Paychex offers HCM solutions such as benefits administration and time and attendance software, as well as human resources outsourcing and insurance agency services.

Executives

Flaschen David J S	director	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Christopher C Simmons	officer: VP, Controller & Treasurer	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Michael E Gioja	officer: Sr. Vice President	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Efrain Rivera	officer: Sr. Vice President, CFO	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Martin Mucci	officer: Sr. Vice President	911 PANORAMA TRAIL S, ROCHESTER NY 14625
Joseph M Tucci	director	EMC CORPORATION, 176 SOUTH STREET, HOPKINTON MA 01748
Joseph M Velli	director
Elizabeth Roaldsen	officer: Sr. Vice President	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Karen E. Saunders-mcclendon	officer: VP, Chief Human Resources Offi	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Theresa M. Payton	director	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
John B Gibson	officer: Sr. VP, Service	CONVERGYS CORPORATION, 201 EAST FOURTH STREET, CINCINNATI OH 45202
Mark Anthony Bottini	officer: Sr. VP of Sales	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Robert L. Schrader	officer: VP/Controller	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Stephanie L Schaeffer	officer: Chief Legal Officer	911 PANORAMA TRAIL SOUTH, ROCHESTER NY 14625
Joseph Doody	director	CASELLA WASTE SYSTEMS INC, 25 GREENS HILL LANE PO BOX 866, RUTLAND VT 05701