Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net of Accumulated Depreciation

v3.21.2
Property and Equipment, Net of Accumulated Depreciation
 12 Months Ended
May 31, 2021
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

2021

2020

Land and improvements

$

10.3

$

10.8

Buildings and improvements

158.3

166.5

Data processing equipment

211.4

222.4

Software (1)

748.3

690.9

Furniture, fixtures, and equipment

99.8

116.3

Leasehold improvements

83.5

110.6

Construction in progress (1)

50.3

47.1

Total property and equipment, gross

1,361.9

1,364.6

Less: Accumulated depreciation

966.1

957.2

Property and equipment, net of accumulated depreciation

$

395.8

$

407.4

(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 $123.4 million, $127.8 million, and $125.7 million for fiscal 2021, 2020, and 2019, respectively. During the three months ended August 31, 2020, the Company disposed of certain furniture and fixtures associated with abandoned leased property and recorded a loss on disposal of $5.1 million. The loss was included in selling, general and administrative expenses on the Consolidated Statements of Income and Comprehensive Income.