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

3 Months Ended

Aug. 31, 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	August 31, 2012		May 31, 2012
Land and improvements	$	7.3	$	7.0
Buildings and improvements		97.8		96.8
Data processing equipment		175.6		212.3
Software		279.7		263.5
Furniture, fixtures, and equipment		154.4		154.2
Leasehold improvements		96.6		96.0
Construction in progress		20.1		28.2

Total property and equipment, gross		831.5		858.0
Less: Accumulated depreciation and amortization		504.6		533.7

Property and equipment, net of accumulated depreciation	$	326.9	$	324.3

Depreciation expense was $19.4 million and $18.5 million for the three months ended August 31, 2012 and 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.

+ References + Details