Paychex, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net of Accumulated Depreciation

Property and Equipment, Net of Accumulated Depreciation

12 Months Ended

May 31, 2014

Property, Plant and Equipment [Abstract]

Property and Equipment, Net of Accumulated Depreciation

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



	May 31,
In millions	2014		2013
Land and improvements	$	8.1	$	8.1
Buildings and improvements	101.1		99.2
Data processing equipment	180.8		175.6
Software	344.8		290.1
Furniture, fixtures, and equipment	145.0		145.2
Leasehold improvements	101.7		99.5
Construction in progress	25.3		32.8
Total property and equipment, gross	906.8		850.5
Less: Accumulated depreciation	564.6		504.5
Property and equipment, net of accumulated depreciation	$	342.2	$	346.0

Depreciation expense was $89.1 million, $79.2 million, and $74.8 million for fiscal years 2014, 2013, and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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