Paychex, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net of Accumulated Depreciation

Property and Equipment, Net of Accumulated Depreciation

9 Months Ended

Feb. 29, 2012

Property and Equipment, Net of Accumulated Depreciation [Abstract]

Property and Equipment, Net of Accumulated Depreciation

Note E: Property and Equipment, Net of Accumulated Depreciation

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


In millions	February 29, 2012		May 31, 2011
Land and improvements	$	7.0	$	7.0
Buildings and improvements		95.7		95.2
Data processing equipment		212.1		204.6
Software		254.2		231.2
Furniture, fixtures, and equipment		155.4		152.0
Leasehold improvements		97.9		93.3
Construction in progress		24.2		20.9

Total property and equipment, gross		846.5		804.2
Less: Accumulated depreciation and amortization		529.7		495.5

Property and equipment, net of accumulated depreciation	$	316.8	$	308.7

Depreciation expense was $18.8 million and $55.7 million for the three and nine months ended February 29, 2012, respectively, as compared with $17.4 million and $49.6 million for the three and nine months ended February 28, 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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