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

Annual report pursuant to Section 13 and 15(d)

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

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

12 Months Ended

May 31, 2018

Goodwill and Intangible Assets, Net of Accumulated Amortization [Abstract]

Components of Intangible Assets, at Cost



	May 31,
In millions	2018		2017
Client lists(1)	$	308.5	$	293.5
Other intangible assets		13.3		5.4
Total intangible assets, gross		321.8		298.9
Less: Accumulated amortization		180.4		241.3
Intangible assets, net of accumulated amortization	$	141.4	$	57.6

(1)

During fiscal 2018, the Company resolved a contractual dispute within certain licensees. As part of this agreement, the Company acquired rights to certain client lists for approximately $30.0 million. Refer to Note P for further details. In addition, the balance as of May 31, 2018 includes client lists from the HROI and Lessor acquisitions. Refer to Note C for further details.

Estimated Amortization Expense


In millions	Estimated amortization
Year ending May 31,	expense
2019	$	25.5
2020		22.4
2021		19.3
2022		16.4
2023		14.1