Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income/(Loss)

v3.19.3
Accumulated Other Comprehensive Income/(Loss)
3 Months Ended
Aug. 31, 2019
Accumulated Other Comprehensive Income/(Loss) [Abstract]  
Accumulated Other Comprehensive Income/(Loss) Note K: Accumulated Other Comprehensive Income/(Loss)

The change in unrealized gains and losses, net of applicable taxes, related to investments in available-for-sale securities and foreign currency translation adjustments are the primary components reported in accumulated other comprehensive income on the Company’s Consolidated Balance Sheets. The changes in accumulated other comprehensive income/(loss) are as follows:

For the three months ended

August 31,

In millions

2019

2018

Beginning balance

$

0.1

$

(36.2)

Other comprehensive income/(loss):

Unrealized gains on available-for-sale securities, net of tax

26.1

2.2

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

(0.7)

(0.1)

Foreign currency translation adjustment

1.0

(1.7)

Total other comprehensive income, net of tax

26.4

0.4

Ending balance

$

26.5

$

(35.8)

Total tax expense included in other comprehensive income

$

8.3

$

0.5

Reclassification adjustments out of accumulated other comprehensive income/(loss) for realized gains, net of tax, on the sale of available-for-sale securities are reflected in interest on funds held for clients and other (expense)/income, net on the Consolidated Statements of Income and Comprehensive Income.