Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income/(Loss)

v3.19.2
Accumulated Other Comprehensive Income/(Loss)
 12 Months Ended
May 31, 2019
Accumulated Other Comprehensive Income/(Loss) [Abstract]  
Accumulated Other Comprehensive Income/(Loss)

Note L — Accumulated Other Comprehensive Income/(Loss)

The change in unrealized gains and losses, net of applicable taxes, related to investments in available-for-sale securities and foreign currency translation adjustments are the primary components reported in accumulated other comprehensive income/(loss) in the Company’s Consolidated Balance Sheets. The changes in accumulated other comprehensive income/(loss) are as follows:







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions

 

2019

 

2018

 

2017

Beginning balance

 

$

 (36.2)

 

$

 20.0 

 

$

 29.2 

Other comprehensive income/(loss):

 

 

 

 

 

 

 

 

 

Unrealized holding gains/(losses)

 

 

 58.2 

 

 

 (70.2)

 

 

 (14.7)

Income tax (expense)/benefit related to unrealized holding gains/(losses)

 

 

 (14.2)

 

 

 22.6 

 

 

 5.6 

Reclassification adjustment for the net gain on sale of available-for-sale
   securities realized in net income

 

 

 —

 

 

 —

 

 

 (0.1)

Foreign currency translation adjustment

 

 

 (7.7)

 

 

 (8.6)

 

 

 —

Total other comprehensive income/(loss), net of tax

 

 

 36.3 

 

 

 (56.2)

 

 

 (9.2)

Ending balance

 

$

 0.1 

 

$

 (36.2)

 

$

 20.0 



 

 

 

 

 

 

 

 

 

Total tax expense/(benefit) included in other comprehensive income/(loss)

 

$

 14.2 

 

$

 (22.6)

 

$

 (5.6)



Reclassification adjustments out of accumulated other comprehensive income/(loss) are for realized gains and losses on the sale of available-for-sale securities and are reflected in interest on funds held for clients and interest (expense)/income on the Consolidated Statements of Income and Comprehensive Income.