Annual report [Section 13 and 15(d), not S-K Item 405]

Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables)

v3.25.2
Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables)
 12 Months Ended
May 31, 2025
Accounting Policies [Abstract]  
Schedule of Accounts Receivable, Net of Allowance for Credit Losses Accounts receivable balances are shown on the Consolidated Balance Sheets net of the allowance for credit losses as follows:

 

 

May 31,

 

 

May 31,

 

In millions

 

2025

 

 

2024

 

Trade receivables

 

$

 

205.4

 

 

$

 

141.3

 

Purchased receivables

 

 

 

1,151.1

 

 

 

 

939.6

 

Total accounts receivable, gross

 

 

 

1,356.5

 

 

 

 

1,080.9

 

Less: Allowance for credit losses

 

 

 

26.0

 

 

 

 

21.3

 

Accounts receivable, net of allowance for credit losses

 

$

 

1,330.5

 

 

$

 

1,059.6

 

 
Schedule of Allowance for Credit Losses Activity Related to Accounts Receivables

Allowance for credit losses activity related to accounts receivables are as follows:

 

 

 

Year ended May 31,

 

In millions

 

 

2025

 

 

 

2024

 

 

 

2023

 

Balance, beginning of period

 

$

 

21.3

 

 

$

 

20.5

 

 

$

 

18.2

 

Provision for credit losses

 

 

 

24.2

 

 

 

 

19.8

 

 

 

 

17.7

 

Write-offs and recoveries

 

 

 

(19.5

)

 

 

 

(19.0

)

 

 

 

(15.4

)

Balance, end of period

 

$

 

26.0

 

 

$

 

21.3

 

 

$

 

20.5

 
Estimated Useful Lives of Depreciable Assets The estimated useful lives of depreciable assets are generally as follows:

 

Category

 

Depreciable life

Buildings and improvements

 

10 to 35 years or the remaining life, whichever is shorter

Data processing equipment

 

3 to 5 years

Furniture, fixtures, and equipment

 

2 to 7 years

Leasehold improvements

 

10 years or the life of the lease, whichever is shorter

Software

 

3 to 12 years
Summary of Estimated Useful Lives of Amortizable Assets The estimated useful lives of amortizable assets are generally as follows:

 

Category

 

Amortizable life

Client lists

 

3 to 12 years

Acquired developed software

 

5 to 7 years

Other intangibles:

 

 

Finite-lived trade names and trademarks

 

3 to 15 years

Naming rights

 

Over remaining term of underlying agreement