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  "documentTitle": "Automatic Data Processing (ADP) (ADP)",
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  "authorName": "William Ackman",
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  "notes": "The table bridges reported financials to adjusted figures by accounting for float, PEO pass-throughs, and corporate allocations.",
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      "text": "Adjusted EBIT: 25.1%",
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      "text": "Source: ADP Form 10-K (2017), Q4'2017 financial press release. Note: Assumes Clients Funds / Float Income has a 100% profit margin to Operating Profit.",
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