Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net of Accumulated Depreciation

v3.20.2
Property and Equipment, Net of Accumulated Depreciation
12 Months Ended
May 31, 2020
Property and Equipment, Net of Accumulated Depreciation [Abstract]  
Property and Equipment, Net of Accumulated Depreciation Note J — Property and Equipment, Net of Accumulated Depreciation

The components of property and equipment, at cost, consisted of the following:

May 31,

In millions

2020

2019

Land and improvements

$

10.8

$

10.8

Buildings and improvements

166.5

162.9

Data processing equipment

222.4

221.6

Software (1)

690.9

626.6

Furniture, fixtures, and equipment

116.3

117.2

Leasehold improvements

110.6

105.4

Construction in progress (1)

47.1

30.3

Total property and equipment, gross

1,364.6

1,274.8

Less: Accumulated depreciation

957.2

866.1

Property and equipment, net of accumulated depreciation

$

407.4

$

408.7

(1)Software includes both purchased software and costs capitalized related to internally developed software placed in service. Capitalized costs related to internally developed software that has not yet been placed in service is included in construction in progress.

Depreciation expense was $127.8 million, $125.7 million, and $116.9 million for fiscal years 2020, 2019, and 2018, respectively.