Property and Equipment

12 Months Ended

May 31, 2014

Property, Plant and Equipment [Abstract]



(In thousands)	2014		2013

Land	$	116,989	$	112,311
Buildings and improvements	521,113		512,717
Equipment	1,427,356		1,631,213
Leasehold improvements	35,821		27,543
Construction in progress	42,384		58,463
	2,143,663		2,342,247
Less: accumulated depreciation	1,287,961		1,355,544
	$	855,702	$	986,703

Interest expense is net of capitalized interest of $1.3 million for the fiscal year ended May 31, 2012. Interest was not capitalized during the fiscal years ended May 31, 2014 and 2013.

The decreases in property and equipment since May 31, 2013 primarily relate to the consummation of the shredding transaction. See Note 9 entitled Acquisitions and Disposals for more information.

- 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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