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

6 Months Ended

Nov. 30, 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	November 30, 2013		May 31, 2013
Land and improvements	$	8.1	$	8.1
Buildings and improvements	100.6		99.2
Data processing equipment	177.6		175.6
Software	326.8		290.1
Furniture, fixtures, and equipment	145.5		145.2
Leasehold improvements	101.3		99.5
Construction in progress	18.3		32.8
Total property and equipment, gross	878.2		850.5
Less: Accumulated depreciation and amortization	526.8		504.5
Property and equipment, net of accumulated depreciation	$	351.4	$	346.0

Depreciation expense was $22.2 million and $42.9 million for the three and six months ended November 30, 2013, respectively, compared to $19.5 million and $38.9 million, respectively, for the three and six months ended November 30, 2012.

- 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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