Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive (Loss)/Income

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Accumulated Other Comprehensive (Loss)/Income
 3 Months Ended
Aug. 31, 2018
Accumulated Other Comprehensive (Loss)/Income [Abstract]  
Accumulated Other Comprehensive (Loss)/ Income

Note K: Accumulated Other Comprehensive (Loss)/Income



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





 

 

 

 

 

 



 

 

 

 

 

 



 

For the three months ended



 

August 31,

In millions

 

2018

 

2017

Beginning balance

 

$

 (36.2)

 

$

 20.0 

Other comprehensive (loss)/income:

 

 

 

 

 

 

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

 

 

 2.1 

 

 

 4.3 

Foreign currency translation adjustment

 

 

 (1.7)

 

 

 0.1 

Total other comprehensive income, net of tax

 

 

 0.4 

 

 

 4.4 

Ending balance

 

$

 (35.8)

 

$

 24.4 



 

 

 

 

 

 

Total tax expense included in other comprehensive income

 

$

 0.5 

 

$

 2.4 



Reclassification adjustments out of accumulated other comprehensive (loss)/income for realized gains and losses on the sale of available-for-sale securities were insignificant for each of the three months ended August 31, 2018 and August 31, 2017.  Those reclassification adjustments are reflected in interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.