Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net of Accumulated Depreciation

v3.20.1
Property and Equipment, Net of Accumulated Depreciation
9 Months Ended
Feb. 29, 2020
Property and Equipment, Net of Accumulated Depreciation [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:

February 29,

May 31,

In millions

2020

2019

Land and improvements

$

10.8

$

10.8

Buildings and improvements

166.3

162.9

Data processing equipment

225.3

221.6

Software (1)

678.4

626.6

Furniture, fixtures, and equipment

113.8

117.2

Leasehold improvements

106.3

105.4

Construction in progress (1)

37.7

30.3

Total property and equipment, gross

1,338.6

1,274.8

Less: Accumulated depreciation

934.8

866.1

Property and equipment, net of accumulated depreciation

$

403.8

$

408.7

(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 $30.7 million and $95.6 million for the three and nine months ended February 29, 2020, respectively, compared to $32.1 million and $91.7 million for the three and nine months ended February 28, 2019, respectively.