Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v2.4.0.8
Accumulated Other Comprehensive Income
9 Months Ended
Feb. 28, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
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.
The changes in accumulated other comprehensive income are as follows:
  
For the three months ended
February 28,
 
For the nine months ended
February 28,
In millions
2014
 
2013
 
2014
 
2013
Beginning balance
$
13.7

 
$
39.7

 
$
22.0

 
$
37.7

Other comprehensive income/(loss):
 
 
 
 
 
 
 
Unrealized gains/(losses) on available-for-sale securities, net of tax
11.0

 
(6.6
)
 
2.9

 
(4.4
)
Reclassification adjustment for the net gain on sale of available-for-sale securities realized in net income, net of tax
(0.1
)
 
(0.4
)
 
(0.3
)
 
(0.6
)
Total other comprehensive income/(loss), net of tax
10.9

 
(7.0
)
 
2.6

 
(5.0
)
Ending balance
$
24.6

 
$
32.7

 
$
24.6

 
$
32.7


The total tax impact in other comprehensive income/(loss) for the three and nine months ended February 28, 2014 was tax expense of $6.5 million and $1.7 million, respectively. The total tax impact in other comprehensive income/(loss) for the three and nine months ended February 28, 2013 was tax benefit of $4.0 million and $2.7 million, respectively.
Reclassification adjustments out of accumulated other comprehensive income are for realized gains on the sales of available-for-sale securities. For the three and nine months ended February 28, 2014 and 2013, these reclassification adjustments impacted interest on funds held for clients on the Consolidated Statements of Income and Comprehensive Income.