Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income

v2.4.0.8
Accumulated Other Comprehensive Income
 12 Months Ended
May 31, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
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 in the Consolidated Balance Sheets. The changes in accumulated other comprehensive income are as follows:
 
 
Year ended May 31,
In millions
 
2014
 
2013
 
2012
Beginning balance
 
$
22.0

 
$
37.7

 
$
37.5

Other comprehensive (loss)/income:
 
 
 
 
 
 
Unrealized holding gains/(losses)
 
0.3

 
(24.1
)
 
1.3

Income tax (expense)/benefit related to unrealized holding gains/(losses)
 
(0.4
)
 
9.0

 
(0.4
)
Reclassification adjustment for the net gain on sale of available-for-sale securities realized in net income
 
(0.6
)
 
(0.9
)
 
(1.0
)
Income tax expense on reclassification adjustment for the net gain on sale of available-for-sale securities
 
0.2

 
0.3

 
0.3

Total other comprehensive (loss)/income, net of tax
 
(0.5
)
 
(15.7
)
 
0.2

Ending balance
 
$
21.5

 
$
22.0

 
$
37.7


The total tax impact in other comprehensive (loss)/income was tax expense of $0.2 million, tax benefit of $9.3 million, and tax expense of $0.1 million for fiscal years 2014, 2013, and 2012, respectively. Reclassification adjustments out of accumulated other comprehensive income are for realized gains on the sales of available-for-sale securities and impacted interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.