Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

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Comprehensive Income
 9 Months Ended
Feb. 29, 2012
Comprehensive Income [Abstract]  
Comprehensive Income

Note G: Comprehensive Income

Comprehensive income is comprised of two components: net income and other comprehensive income. Comprehensive income includes all changes in equity during a period except those resulting from transactions with owners of the Company. The change in unrealized gains and losses, net of applicable taxes, related to available-for-sale securities is the primary component reported in accumulated other comprehensive income in the Consolidated Balance Sheets.

 

Comprehensive income, net of related tax effects, is as follows:

 

 

                                 
    For the three months ended     For the nine months ended  

In millions

   February 29,
2012		     February 28,
2011		     February 29,
2012		     February 28,
2011		  

Net income

   $ 135.4     $ 130.6     $ 424.7     $ 396.4  

Other comprehensive income/(loss):

                                

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

     9.4       (9.7 )      6.0       (12.8 ) 

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

     (0.2 )      (0.1 )      (0.4 )      (0.3 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Total other comprehensive income/(loss)

     9.2       (9.8 )      5.6       (13.1 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Total comprehensive income

   $ 144.6     $ 120.8     $ 430.3     $ 383.3  
   

 

 

    

 

 

    

 

 

    

 

 

  

As of February 29, 2012, accumulated other comprehensive income was $43.1 million, which was net of taxes of $24.9 million. As of May 31, 2011, accumulated other comprehensive income was $37.5 million, which was net of taxes of $21.7 million.