Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income/(Loss)

v3.20.1
Accumulated Other Comprehensive Income/(Loss)
 9 Months Ended
Feb. 29, 2020
Accumulated Other Comprehensive Income/(Loss) [Abstract]  
Accumulated Other Comprehensive Income/(Loss)


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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 nine months ended

February 29,

February 28,

February 29,

February 28,

In millions

2020

2019

2020

2019

Beginning balance

$

11.6

$

(47.4)

$

0.1

$

(36.2)

Other comprehensive income:

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

34.6

27.5

50.2

22.1

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

(0.5)

(0.1)

(1.8)

0.1

Foreign currency translation adjustment

(0.5)

0.7

(3.3)

(5.3)

Total other comprehensive income, net of tax

33.6

28.1

45.1

16.9

Ending balance

$

45.2

$

(19.3)

$

45.2

$

(19.3)

Total tax expense included in other comprehensive income

$

11.2

$

9.1

$

16.0

$

6.8

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.