Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net of Accumulated Depreciation

v3.22.2
Property and Equipment, Net of Accumulated Depreciation
 12 Months Ended
May 31, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net of Accumulated Depreciation

Note I — Property and Equipment, Net of Accumulated Depreciation

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

 

 

 

May 31,

 

In millions

 

2022

 

 

2021

 

Land and improvements

 

$

 

10.3

 

 

$

 

10.3

 

Buildings and improvements

 

 

 

157.1

 

 

 

 

158.3

 

Data processing equipment

 

 

 

217.4

 

 

 

 

211.4

 

Software (1)

 

 

 

832.1

 

 

 

 

748.3

 

Furniture, fixtures, and equipment

 

 

 

97.7

 

 

 

 

99.8

 

Leasehold improvements

 

 

 

91.7

 

 

 

 

83.5

 

Construction in progress (1)

 

 

 

50.7

 

 

 

 

50.3

 

Total property and equipment, gross

 

 

 

1,457.0

 

 

 

 

1,361.9

 

Less: Accumulated depreciation

 

 

 

1,055.7

 

 

 

 

966.1

 

Property and equipment, net of accumulated depreciation

 

$

 

401.3

 

 

$

 

395.8

 

 

(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 $133.7 million, $123.4 million, and $127.8 million for fiscal 2022, 2021, and 2020, respectively.