Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income/(Loss)

v3.20.2
Accumulated Other Comprehensive Income/(Loss)
 12 Months Ended
May 31, 2020
Accumulated Other Comprehensive Income/(Loss) [Abstract]  
Accumulated Other Comprehensive Income/(Loss)  

Note M — Accumulated Other Comprehensive Income/(Loss)

The changes in accumulated other comprehensive income/(loss) on the Company’s Consolidated Balance Sheets are as follows:

Year ended May 31,

In millions

2020

2019

2018

Beginning balance

$

0.1

$

(36.2)

$

20.0

Other comprehensive income/(loss):

Unrealized gains/(losses) on securities, net of tax

68.9

44.0

(47.6)

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

(8.5)

—

—

Foreign currency translation adjustment

(4.0)

(7.7)

(8.6)

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

56.4

36.3

(56.2)

Ending balance

$

56.5

$

0.1

$

(36.2)

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

$

19.8

$

14.2

$

(22.6)

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 other (expense)/income, net on the Consolidated Statements of Income and Comprehensive Income.