Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.3.1.900
Fair Value Measurements (Tables)
 9 Months Ended
Feb. 29, 2016
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:
 
February 29, 2016
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:
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
Commercial paper
$
965.8

 
$
—

 
$
965.8

 
$
—

Time deposits
150.0

 
150.0

 
—

 
—

U.S. government agency securities
200.0

 
—

 
200.0

 
—

Money market securities
0.1

 
0.1

 
—

 
—

Total cash equivalents
$
1,315.9

 
$
150.1

 
$
1,165.8

 
$
—

Available-for-sale securities:
 
 
 
 
 
 
 
Corporate bonds
$
110.4

 
$
—

 
$
110.4

 
$
—

General obligation municipal bonds
1,662.6

 
—

 
1,662.6

 
—

Pre-refunded municipal bonds
69.7

 
—

 
69.7

 
—

Revenue municipal bonds
951.3

 
—

 
951.3

 
—

U.S. government agency securities
121.2

 
—

 
121.2

 
—

Variable rate demand notes
68.0

 
—

 
68.0

 
—

Total available-for-sale securities
$
2,983.2

 
$
—

 
$
2,983.2

 
$
—

Other
$
13.8

 
$
13.8

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
Other long-term liabilities
$
13.8

 
$
13.8

 
$
—

 
$
—


 
May 31, 2015
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:
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
Commercial paper
$
15.0

 
$
—

 
$
15.0

 
$
—

General obligation municipal bonds
55.1

 
—

 
55.1

 
—

Pre-refunded municipal bonds
20.5

 
—

 
20.5

 
—

Revenue municipal bonds
12.3

 
—

 
12.3

 
—

Money market securities
0.2

 
0.2

 
—

 
—

Total cash equivalents
$
103.1

 
$
0.2

 
$
102.9

 
$
—

Available-for-sale securities:
 
 
 
 
 
 
 
General obligation municipal bonds
$
1,703.7

 
$
—

 
$
1,703.7

 
$
—

Pre-refunded municipal bonds
102.7

 
—

 
102.7

 
—

Revenue municipal bonds
963.6

 
—

 
963.6

 
—

Variable rate demand notes
825.6

 
—

 
825.6

 
—

Total available-for-sale securities
$
3,595.6

 
$
—

 
$
3,595.6

 
$
—

Other
$
14.2

 
$
14.2

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
Other long-term liabilities
$
14.2

 
$
14.2

 
$
—

 
$
—