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. 28, 2014

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	February 28, 2014		May 31, 2013
Land and improvements	$	8.1	$	8.1
Buildings and improvements	100.8		99.2
Data processing equipment	179.4		175.6
Software	340.5		290.1
Furniture, fixtures, and equipment	146.1		145.2
Leasehold improvements	101.0		99.5
Construction in progress	13.9		32.8
Total property and equipment, gross	889.8		850.5
Less: Accumulated depreciation and amortization	544.7		504.5
Property and equipment, net of accumulated depreciation	$	345.1	$	346.0

Depreciation expense was $22.1 million and $65.0 million for the three and nine months ended February 28, 2014, respectively, compared to $20.1 million and $59.0 million, respectively, for the three and nine months ended February 28, 2013.

- 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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