Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

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Accumulated Other Comprehensive Income
 3 Months Ended
Aug. 31, 2017
Accumulated Other Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income

Note J: Accumulated Other Comprehensive Income



The change in unrealized gains and losses, net of applicable taxes, related to investments in available-for-sale securities is the primary component reported in accumulated other comprehensive income on the Company’s Consolidated Balance Sheets.  The changes in accumulated other comprehensive income are as follows:







 

 

 

 

 

 



 

 

 

 

 

 



 

For the three months ended



 

August 31,

In millions

 

2017

 

2016

Beginning balance

 

$

 20.0 

 

$

 29.2 

Other comprehensive income:

 

 

 

 

 

 

Unrealized gains on available-for-sale securities, net of tax

 

 

 4.4 

 

 

 10.0 

Total other comprehensive income, net of tax

 

 

 4.4 

 

 

 10.0 

Ending balance

 

$

 24.4 

 

$

 39.2 



 

 

 

 

 

 

Total tax expense included in other comprehensive income

 

$

 2.4 

 

$

 5.7 



Reclassification adjustments out of accumulated other comprehensive income for realized gains and losses on the sale of available-for-sale securities were insignificant for the three months ended August 31, 2017 and August 31, 2016.  Those reclassification adjustments are reflected in interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.