Annual report [Section 13 and 15(d), not S-K Item 405]

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

v3.25.2
Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)
 12 Months Ended
May 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Change in Goodwill

Goodwill and changes in goodwill as of and for the years ended May 31, 2025 and May 31, 2024 were as follows:

 

 

 

May 31,

 

In millions

 

2025

 

 

2024

 

Balance, beginning of fiscal year

 

$

 

1,882.7

 

 

$

 

1,834.0

 

Changes during the period:

 

 

 

 

 

 

 

 

Goodwill acquired

 

 

 

2,626.5

 

 

 

 

46.7

 

Currency translation adjustment

 

 

 

4.9

 

 

 

 

2.0

 

Balance, end of fiscal year

 

$

 

4,514.1

 

 

$

 

1,882.7

 
Components of Intangible Assets, at Cost

The Company had certain intangible assets on its Consolidated Balance Sheets. The components of intangible assets, at cost, consisted of the following:

 

 

 

May 31,

 

In millions

 

2025

 

 

2024

 

Client lists

 

$

 

1,797.9

 

 

$

 

675.1

 

Acquired developed software

 

 

 

410.5

 

 

 

 

—

 

Other intangible assets

 

 

 

314.7

 

 

 

 

23.1

 

Total intangible assets, gross

 

 

 

2,523.1

 

 

 

 

698.2

 

Less: Accumulated amortization

 

 

 

575.8

 

 

 

 

503.7

 

Intangible assets, net of accumulated amortization

 

$

 

1,947.3

 

 

$

 

194.5

 
Estimated Amortization Expense

The estimated amortization expense for the next five fiscal years relating to intangible asset balances is as follows:

 

In millions

 

 

Estimated
amortization

 

Year ending May 31,

 

expense

 

2026

 

$

 

295.7

 

2027

 

 

 

274.1

 

2028

 

 

 

255.4

 

2029

 

 

 

225.9

 

2030

 

 

 

196.5