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, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment, Net of Accumulated Depreciation

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



In millions	August 31, 2013		May 31, 2013
Land and improvements	$	8.1	$	8.1
Buildings and improvements	100.3		99.2
Data processing equipment	182.4		175.6
Software	300.9		290.1
Furniture, fixtures, and equipment	144.6		145.2
Leasehold improvements	100.6		99.5
Construction in progress	35.9		32.8
Total property and equipment, gross	872.8		850.5
Less: Accumulated depreciation and amortization	522.3		504.5
Property and equipment, net of accumulated depreciation	$	350.5	$	346.0

Depreciation expense was $20.7 million and $19.4 million for the three months ended August 31, 2013 and 2012, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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