Consolidated Balance Sheets (In millions, except per share amounts) (A) As of June 30, 2020, $13.6 million of long-term marketable securities have been pledged as collateral under the Company's reverse repurchase agreements. As of June 30, 2019, $261.4 million of long-term marketable securities and $0.6 million of cash and cash equivalents have been pledged as collateral under the Company's reverse repurchase agreements (see Note 8). See notes to the Consolidated Financial Statements. June 30, 2020 2019 Assets Current assets: Cash and cash equivalents $ 1,908.5  $ 1,949.2  Short-term marketable securities —  10.5  Accounts receivable, net of allowance for doubtful accounts of $92.5 and $54.9, respectively 2,441.3  2,439.3  Other current assets 506.2  509.1  Total current assets before funds held for clients 4,856.0  4,908.1  Funds held for clients 26,708.1  29,434.2  Total current assets 31,564.1  34,342.3  Long-term receivables, net of allowance for doubtful accounts of $0.5 and $0.4, respectively 18.6  23.8  Property, plant and equipment, net 703.9  764.2  Operating lease right-of-use asset 493.7  —  Deferred contract costs 2,401.6  2,428.5  Other assets 458.4  934.4  Goodwill 2,309.4  2,323.0  Intangible assets, net 1,215.8  1,071.5  Total assets $ 39,165.5  $ 41,887.7  Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 102.0  $ 125.5  Accrued expenses and other current liabilities 1,980.7  1,759.0  Accrued payroll and payroll-related expenses 557.0  721.1  Dividends payable 387.3  340.1  Short-term deferred revenues 212.5  220.7  Obligations under reverse repurchase agreements (A) 13.6  262.0  Short-term debt 1,001.8  —  Income taxes payable 40.1  54.8  Total current liabilities before client funds obligations 4,295.0  3,483.2  Client funds obligations 25,831.6  29,144.5  Total current liabilities 30,126.6  32,627.7  Long-term debt 1,002.8  2,002.2  Operating lease liabilities 344.4  —  Other liabilities 837.0  798.7  Deferred income taxes 731.9  659.9  Long-term deferred revenues 370.6  399.3  Total liabilities 33,413.3  36,487.8  Commitments and Contingencies (Note 12) Stockholders' equity: Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none —  —  Common stock, $ 0.10 par value: authorized,1,000.0 share s; issued, 638.7 shares at June 30, 2020 and June 30, 2019;  outstanding, 429.9 and  434.2 sh ares at June 30, 2020 and June 30, 2019, respectively 63.9  63.9  Capital in excess of par value 1,333.8  1,183.2  Retained earnings 18,436.3  17,500.6  Treasury stock - at cost: 208.9 and 204.5 shares at June 30, 2020 and June 30, 2019, respectively (14,067.0) (13,090.5) Accumulated other comprehensive loss (14.8) (257.3) Total stockholders’ equity 5,752.2  5,399.9  Total liabilities and stockholders’ equity $ 39,165.5  $ 41,887.7 