Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
 12 Months Ended
May 31, 2013
Fair Value Disclosures [Abstract]  
Financial assets and liabilities measured at fair value on a recurring basis
The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows:
 
 
May 31, 2013
In millions
 
Carrying
value
(Fair value)
 
Quoted
prices in
active
markets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
General obligation municipal bonds
 
$
1,456.8

 
$
—

 
$
1,456.8

 
$
—

Pre-refunded municipal bonds
 
203.9

 
—

 
203.9

 
—

Revenue municipal bonds
 
754.0

 
—

 
754.0

 
—

Variable rate demand notes
 
1,276.7

 
—

 
1,276.7

 
—

Total available-for-sale securities
 
$
3,691.4

 
$
—

 
$
3,691.4

 
$
—

Other securities
 
$
10.7

 
$
10.7

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
 
Other long-term liabilities
 
$
10.7

 
$
10.7

 
$
—

 
$
—


 
 
May 31, 2012
In millions
 
Carrying
value
(Fair value)
 
Quoted
prices in
active
markets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
General obligation municipal bonds
 
$
1,333.9

 
$
—

 
$
1,333.9

 
$
—

Pre-refunded municipal bonds
 
334.3

 
—

 
334.3

 
—

Revenue municipal bonds
 
501.0

 
—

 
501.0

 
—

Variable rate demand notes
 
889.8

 
—

 
889.8

 
—

Total available-for-sale securities
 
$
3,059.0

 
$
—

 
$
3,059.0

 
$
—

Other securities
 
$
9.2

 
$
9.2

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
 
Other long-term liabilities
 
$
9.2

 
$
9.2

 
$
—

 
$
—