v3.26.1
Goodwill and Intangible Assets, Net of Accumulated Amortization (Tables)
 12 Months Ended
May 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Change in Goodwill

Goodwill and changes in goodwill as of and for the years ended May 31, 2026 and May 31, 2025 were as follows:

 

 

 

May 31,

 

In millions

 

2026

 

 

2025

 

Balance, beginning of fiscal year

 

$

 

4,514.1

 

 

$

 

1,882.7

 

Changes during the period:

 

 

 

 

 

 

 

 

Goodwill acquired

 

 

 

10.2

 

 

 

 

2,626.5

 

Currency translation adjustment

 

 

 

3.1

 

 

 

 

4.9

 

Balance, end of fiscal year

 

$

 

4,527.4

 

 

$

 

4,514.1

 
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

 

2026

 

 

2025

 

Customer lists

 

$

 

1,835.5

 

 

$

 

1,797.9

 

Acquired developed software

 

 

 

408.5

 

 

 

 

410.5

 

Other intangible assets

 

 

 

315.0

 

 

 

 

314.7

 

Total intangible assets, gross

 

 

 

2,559.0

 

 

 

 

2,523.1

 

Less: Accumulated amortization

 

 

 

875.0

 

 

 

 

575.8

 

Intangible assets, net of accumulated amortization

 

$

 

1,684.0

 

 

$

 

1,947.3

 
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

 

2027

 

$

 

277.7

 

2028

 

 

 

258.5

 

2029

 

 

 

228.3

 

2030

 

 

 

198.5

 

2031

 

 

 

181.1