Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
 6 Months Ended
Nov. 30, 2013
Fair Value Disclosures [Abstract]  
Financial assets and liabilities measured at fair value on a recurring basis
The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows:
 
November 30, 2013
In millions
Carrying
value
(Fair value)
 
Quoted
prices  in
active
markets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
General obligation municipal bonds
$
1,655.7

 
$
—

 
$
1,655.7

 
$
—

Pre-refunded municipal bonds
130.0

 
—

 
130.0

 
—

Revenue municipal bonds
846.4

 
—

 
846.4

 
—

Variable rate demand notes
198.4

 
—

 
198.4

 
—

Total available-for-sale securities
$
2,830.5

 
$
—

 
$
2,830.5

 
$
—

Other securities
$
12.7

 
12.7

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
Other long-term liabilities
$
12.7

 
$
12.7

 
$
—

 
$
—


 
May 31, 2013
In millions
Carrying
value
(Fair value)
 
Quoted
prices  in
active
markets
(Level 1)
 
Significant
other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
General obligation municipal bonds
$
1,456.8

 
$
—

 
$
1,456.8

 
$
—

Pre-refunded municipal bonds
203.9

 
—

 
203.9

 
—

Revenue municipal bonds
754.0

 
—

 
754.0

 
—

Variable rate demand notes
1,276.7

 
—

 
1,276.7

 
—

Total available-for-sale securities
$
3,691.4

 
$
—

 
$
3,691.4

 
$
—

Other securities
$
10.7

 
10.7

 
$
—

 
$
—

Liabilities:
 
 
 
 
 
 
 
Other long-term liabilities
$
10.7

 
$
10.7

 
$
—

 
$
—