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.