Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive (Loss)/Income

v3.10.0.1
Accumulated Other Comprehensive (Loss)/Income
 6 Months Ended
Nov. 30, 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

 

For the six months ended



 

November 30,

 

November 30,

In millions

 

2018

 

2017

 

2018

 

2017

Beginning balance

 

$

 (35.8)

 

$

 24.4 

 

$

 (36.2)

 

$

 20.0 

Other comprehensive (loss)/income:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 (7.2)

 

 

 (33.6)

 

 

 (5.2)

 

 

 (29.3)

Foreign currency translation adjustment

 

 

 (4.4)

 

 

 —

 

 

 (6.0)

 

 

 0.1 

Total other comprehensive loss, net of tax

 

 

 (11.6)

 

 

 (33.6)

 

 

 (11.2)

 

 

 (29.2)

Ending balance

 

$

 (47.4)

 

$

 (9.2)

 

$

 (47.4)

 

$

 (9.2)



 

 

 

 

 

 

 

 

 

 

 

 

Total tax benefit included in other comprehensive loss

 

$

 (1.8)

 

$

 (19.3)

 

$

 (2.3)

 

$

 (16.8)



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 the three and six months ended November 30, 2018 and November 30, 2017.  Those reclassification adjustments are reflected in interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.