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Property, Plant and Equipment

12 Months Ended

May 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

The following table summarizes the major classes of assets at cost and accumulated depreciation for the fiscal years ended May 31:

	2019				2018
Land	$	79.1			$	78.9
Buildings	239.1				240.0
Capitalized software	204.0				158.7
Furniture, fixtures and equipment	213.9				215.5
Building and leasehold improvements	212.2				202.7
Total at cost	$	948.3			$	895.8
Less Accumulated depreciation and amortization	(370.6		)		(340.2		)
Property, plant and equipment, net	$	577.7			$	555.6

Depreciation and amortization expense related to property, plant, and equipment was $56.2, $41.8 and $36.2 for the fiscal years ended May 31, 2019, 2018 and 2017, respectively. For the twelve months ended May 31, 2019 and May 31, 2018, the Company capitalized $72.5 and $99.6 of building and leasehold improvements and capitalized software. The Company's construction in progress was $46.8 and $59.3 as of May 31, 2019 and 2018, respectively, related to building and leasehold improvements and capitalized software.

In fiscal 2019, the Company recognized pretax impairment charges of $0.9 related to the abandonment of legacy building improvements. In fiscal 2018, the Company recognized pretax impairment charges of $11.0 related to the abandonment of legacy building improvements and an impairment of $0.2 related to book fairs trucks. In fiscal 2017 the Company recognized a pretax impairment charge related to certain website development assets of $5.7.

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- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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