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Property and Equipment
12 Months Ended
Sep. 30, 2016
Property and Equipment  
Property and Equipment

5. Property and Equipment

        Property and equipment, at cost, consists of the following:

                                                                                                                                                                                    

 

 

Fiscal Year Ended

 

 

 

 

September 30,
2016

 

September 30,
2015

 

Useful Lives
(years)

 

 

(in millions)

 

 

Building and land

 

$

57.9

 

$

105.7

 

10 - 45

Leasehold improvements

 

 

381.4

 

 

349.3

 

1 - 20

Computer systems and equipment

 

 

652.0

 

 

627.7

 

3 - 12

Furniture and fixtures

 

 

129.7

 

 

125.8

 

3 - 10

​  

​  

​  

​  

Total

 

 

1,221.0

 

 

1,208.5

 

 

Accumulated depreciation and amortization

 

 

(576.0

)

 

(509.2

)

 

​  

​  

​  

​  

Property and equipment, net

 

$

645.0

 

$

699.3

 

 

​  

​  

​  

​  

​  

​  

​  

​  

        Depreciation expense for the fiscal years ended September 30, 2016, 2015 and 2014 were $171.7 million, $191.3 million, and $69.1 million, respectively. Depreciation is calculated using primarily the straight-line method over the estimated useful lives of the assets, or in the case of leasehold improvements and capitalized leases, the lesser of the remaining term of the lease or its estimated useful life. Included in payments for capital expenditures presented within the Consolidated Statements of Cash Flows, were proceeds from disposals of property and equipment of $54.6 million, $44.9 million, and $4.4 million for the years ended September 30, 2016, 2015 and 2014, respectively.