Annual report pursuant to Section 13 and 15(d)

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

v3.19.2
Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)
12 Months Ended
May 31, 2019
Goodwill and Intangible Assets, Net of Accumulated Amortization [Abstract]  
Change in Goodwill



 

 

 

 

 

 



 

May 31,

In millions

 

2019

 

2018

Balance, beginning of fiscal year

 

$

814.0 

 

$

657.1 

Changes during the period:

 

 

 

 

 

 

Goodwill acquired

 

 

972.1 

 

 

162.6 

Acquisition accounting adjustments

 

 

1.6 

 

 

 -

Currency translation adjustment

 

 

(5.1)

 

 

(5.7)

Balance, end of fiscal year

 

$

1,782.6 

 

$

814.0 



 

 

 

 

 

 



Components of Intangible Assets, at Cost



 

 

 

 

 

 



 

 

 

 

 

 



 

May 31,

In millions

 

2019

 

2018

Client lists(1)

 

$

608.2 

 

$

308.5 

Other intangible assets

 

 

23.0 

 

 

13.3 

Total intangible assets, gross

 

 

631.2 

 

 

321.8 

Less: Accumulated amortization

 

 

232.1 

 

 

180.4 

Intangible assets, net of accumulated amortization

 

$

399.1 

 

$

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 of this Item 8 for further details.



Estimated Amortization Expense



 

 

 

In millions

 

Estimated amortization

Year ending May 31,

 

expense

2020

 

$

67.1 

2021

 

 

63.8 

2022

 

 

57.4 

2023

 

 

54.1 

2024

 

 

51.7