Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income/(Loss)

v3.19.3.a.u2
Accumulated Other Comprehensive Income/(Loss)
 6 Months Ended
Nov. 30, 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

For the six months ended

November 30,

November 30,

In millions

2019

2018

2019

2018

Beginning balance

$

26.5

$

(35.8)

$

0.1

$

(36.2)

Other comprehensive (loss)/income:

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

(10.5)

(7.4)

15.6

(5.4)

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

(0.6)

0.2

(1.3)

0.2

Foreign currency translation adjustment

(3.8)

(4.4)

(2.8)

(6.0)

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

(14.9)

(11.6)

11.5

(11.2)

Ending balance

$

11.6

$

(47.4)

$

11.6

$

(47.4)

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

$

(3.5)

$

(1.8)

$

4.8

$

(2.3)

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.