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, 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	August 31, 2014		May 31, 2014
Land and improvements	$	8.1	$	8.1
Buildings and improvements	101.2		101.1
Data processing equipment	179.5		180.8
Software	360.4		344.8
Furniture, fixtures, and equipment	145.2		145.0
Leasehold improvements	101.6		101.7
Construction in progress	28.4		25.3
Total property and equipment, gross	924.4		906.8
Less: Accumulated depreciation	577.8		564.6
Property and equipment, net of accumulated depreciation	$	346.6	$	342.2

Depreciation expense was $22.7 million for the three months ended August 31, 2014, compared to $20.7 million for the three months ended August 31, 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.

+ References + Details