Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income/(Loss)

v2.4.0.8
Accumulated Other Comprehensive Income/(Loss)
 6 Months Ended
Nov. 30, 2013
Equity [Abstract]  
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income/(Loss)
The change in unrealized gains and losses, net of applicable taxes, related to available-for-sale securities is the primary component reported in accumulated other comprehensive income/(loss) in the Consolidated Balance Sheets.
The changes in accumulated other comprehensive income/(loss) are as follows:
  
For the three months ended
November 30,
 
For the six months ended
November 30,
In millions
2013
 
2012
 
2013
 
2012
Beginning balance
$
(4.9
)
 
$
37.3

 
$
22.0

 
$
37.7

Other comprehensive income/(loss):
 
 
 
 
 
 
 
Unrealized gains/(losses) on available-for-sale securities, net of tax
18.6

 
2.5

 
(8.2
)
 
2.2

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

 
(0.1
)
 
(0.1
)
 
(0.2
)
Total other comprehensive income/(loss), net of tax
18.6

 
2.4

 
(8.3
)
 
2.0

Ending balance
$
13.7

 
$
39.7

 
$
13.7

 
$
39.7


The total tax impact in other comprehensive income/(loss) for the three and six months ended November 30, 2013 was tax expense of $10.8 million and tax benefit of $4.8 million, respectively. The total tax impact in other comprehensive income/(loss) for the three and six months ended November 30, 2012 was tax expense of $1.6 million and $1.3 million, respectively.
Reclassification adjustments out of accumulated other comprehensive income/(loss) are for realized gains on the sales of available-for-sale securities. For the three and six months ended November 30, 2013 and 2012, these reclassification adjustments impacted interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.