Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)

12 Months Ended

May 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Change in Goodwill

Goodwill and changes in goodwill as of and for the years ended May 31, 2022 and May 31, 2021 were as follows:

	May 31,
In millions	2022			2021
Balance, beginning of fiscal year	$	1,820.7		$	1,791.1
Changes during the period:
Goodwill acquired		27.7			19.6
Currency translation adjustment		(16.9	)		10.0
Balance, end of fiscal year	$	1,831.5		$	1,820.7

Components of Intangible Assets, at Cost

The Company had certain intangible assets on its Consolidated Balance Sheets. The components of intangible assets, at cost, consisted of the following:

	May 31,
In millions	2022		2021
Client lists	$	637.4	$	632.3
Other intangible assets		23.0		24.1
Total intangible assets, gross		660.4		656.4
Less: Accumulated amortization		435.8		380.6
Intangible assets, net of accumulated amortization	$	224.6	$	275.8

Estimated Amortization Expense

The estimated amortization expense for the next five fiscal years relating to intangible asset balances is as follows:

In millions		Estimated amortization
Year ending May 31,	expense
2023	$		59.4
2024			56.5
2025			53.5
2026			37.8
2027			4.5