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

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net of Accumulated Depreciation

Property and Equipment, Net of Accumulated Depreciation

6 Months Ended

Nov. 30, 2012

Property, Plant and Equipment [Abstract]

Property and Equipment, Net of Accumulated Depreciation

Note E: Property and Equipment, Net of Accumulated Depreciation

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



In millions	November 30, 2012		May 31, 2012
Land and improvements	$	7.3	$	7.0
Buildings and improvements	98.1		96.8
Data processing equipment	171.5		212.3
Software	272.5		263.5
Furniture, fixtures, and equipment	152.6		154.2
Leasehold improvements	96.1		96.0
Construction in progress	41.5		28.2
Total property and equipment, gross	839.6		858.0
Less: Accumulated depreciation and amortization	487.8		533.7
Property and equipment, net of accumulated depreciation	$	351.8	$	324.3

Depreciation expense was $19.5 million and $38.9 million for the three and six months ended November 30, 2012, respectively, compared to $18.4 million and $36.9 million, respectively, for the three and six months ended November 30, 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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