Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive (Loss)/Income

v3.19.1
Accumulated Other Comprehensive (Loss)/Income
 9 Months Ended
Feb. 28, 2019
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 are as follows:







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

For the three months ended

 

For the nine months ended



 

February 28,

 

February 28,

In millions

 

2019

 

2018

 

2019

 

2018

Beginning balance

 

$

 (47.4)

 

$

 (9.2)

 

$

 (36.2)

 

$

 20.0 

Other comprehensive income/(loss):

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains/(losses) on available-for-sale securities, net of tax

 

 

 27.4 

 

 

 (17.5)

 

 

 22.2 

 

 

 (46.7)

Foreign currency translation adjustment

 

 

 0.7 

 

 

 —

 

 

 (5.3)

 

 

 —

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

 

 

 28.1 

 

 

 (17.5)

 

 

 16.9 

 

 

 (46.7)

Ending balance

 

$

 (19.3)

 

$

 (26.7)

 

$

 (19.3)

 

$

 (26.7)



 

 

 

 

 

 

 

 

 

 

 

 

Total tax expense/(benefit) included in other comprehensive income/(loss)

 

$

 9.1 

 

$

 (3.2)

 

$

 6.8 

 

$

 (20.1)



Reclassification adjustments out of accumulated other comprehensive loss for realized gains and losses on the sale of available-for-sale securities were insignificant for the three and nine months ended February 28, 2019 and February 28, 2018. Those reclassification adjustments are reflected in interest on funds held for clients and interest (expense)/income, net on the Consolidated Statements of Income and Comprehensive Income.