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Property and Equipment
12 Months Ended
Sep. 30, 2020
Property and Equipment  
Property and Equipment

5.           Property and Equipment

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

Fiscal Year Ended

September 30, 

September 30, 

Useful Lives

    

2020

    

2019

    

(years)

(in millions)

Building and land

$

11.5

$

11.2

 

10

-

45

Leasehold improvements

 

343.2

 

363.5

 

1

-

20

Computer systems and equipment

 

557.4

 

582.3

 

3

-

12

Furniture and fixtures

 

134.8

 

133.0

 

3

-

10

Total

 

1,046.9

 

1,090.0

Accumulated depreciation and amortization

 

(665.2)

 

(684.4)

Property and equipment, net

$

381.7

$

405.6

Depreciation expense for the fiscal years ended September 30, 2020, 2019 and 2018 were $163.4 million, $137.5 million, and $125.5 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.