Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)

Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)

9 Months Ended

Feb. 28, 2019

Goodwill and Intangible Assets, Net of Accumulated Amortization [Abstract]

Components of Intangible Assets, at Cost



	February 28,		May 31,
In millions	2019		2018
Client lists(1)	$	608.7	$	308.5
Other intangible assets(1)		23.4		13.3
Total intangible assets, gross		632.1		321.8
Less: Accumulated amortization		211.2		180.4
Intangible assets, net of accumulated amortization	$	420.9	$	141.4

(1) Client lists and other intangible assets include current estimates of amounts acquired from Oasis as of December 20, 2018. Refer to Note D for further details.

Estimated Amortization Expense


In millions	Estimated amortization
Year ending May 31,	expense
2019	$	54.9
2020		80.5
2021		66.6
2022		54.1
2023		43.1