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v2.3.0.11

Funds Held for Clients and Corporate Investments (Tables) | 12 Months Ended
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May 31, 2011
Funds Held for Clients and Corporate Investments (Tables) [Abstract] |
Funds held for clients and corporate investments |
|  | May 31, 2011 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Fair |
In millions |  | cost |  |  | gains |  |  | losses |  |  | value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market securities and other cash equivalents |  | $ | 1,372.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,372.9 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  |  | 1,017.5 |  |  |  | 33.1 |  |  |  | (0.1 | ) |  |  | 1,050.5 |
Pre-refunded municipal bonds(1) |  |  | 470.5 |  |  |  | 14.2 |  |  |  | — |  |  |  | 484.7 |
Revenue municipal bonds |  |  | 361.6 |  |  |  | 12.1 |  |  |  | — |  |  |  | 373.7 |
Variable rate demand notes |  |  | 828.3 |  |  |  | — |  |  |  | — |  |  |  | 828.3 |
Total available-for-sale securities |  |  | 2,677.9 |  |  |  | 59.4 |  |  |  | (0.1 | ) |  |  | 2,737.2 |
Other |  |  | 8.3 |  |  |  | 0.6 |  |  |  | — |  |  |  | 8.9 |
Total funds held for clients and corporate investments |  | $ | 4,059.1 |  |  | $ | 60.0 |  |  | $ | (0.1 | ) |  | $ | 4,119.0 |
|  | May 31, 2010 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Fair |
In millions |  | cost |  |  | gains |  |  | losses |  |  | value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market securities and other cash equivalents |  | $ | 1,754.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,754.5 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  |  | 951.1 |  |  |  | 33.7 |  |  |  | (0.3 | ) |  |  | 984.5 |
Pre-refunded municipal bonds(1) |  |  | 539.8 |  |  |  | 19.5 |  |  |  | — |  |  |  | 559.3 |
Revenue municipal bonds |  |  | 368.0 |  |  |  | 13.8 |  |  |  | (0.1 | ) |  |  | 381.7 |
Variable rate demand notes |  |  | 226.3 |  |  |  | — |  |  |  | — |  |  |  | 226.3 |
Total available-for-sale securities |  |  | 2,085.2 |  |  |  | 67.0 |  |  |  | (0.4 | ) |  |  | 2,151.8 |
Other |  |  | 7.5 |  |  |  | — |  |  |  | (0.2 | ) |  |  | 7.3 |
Total funds held for clients and corporate investments |  | $ | 3,847.2 |  |  | $ | 67.0 |  |  | $ | (0.6 | ) |  | $ | 3,913.6 |
(1) |  | Pre-refunded municipal bonds are secured by an escrow fund of U.S. government obligations.
Classification of investments on the Consolidated Balance Sheets |
|  | May 31, |
In millions |  | 2011 |  |  | 2010 |
Funds held for clients |  | $ | 3,566.7 |  |  | $ | 3,541.0 |
Corporate investments |  |  | 345.0 |  |  |  | 82.5 |
Long-term corporate investments |  |  | 207.3 |  |  |  | 290.1 |
Total funds held for clients and corporate investments |  | $ | 4,119.0 |  |  | $ | 3,913.6 |
Securities in unrealized loss position |
|  | May 31, 2011 |
|  | Less than |  |  | More than |  |  |  |
|  | twelve months |  |  | twelve months |  |  | Total |
|  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |
|  | unrealized |  |  | Fair |  |  | unrealized |  |  | Fair |  |  | unrealized |  |  | Fair |
In millions |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  | $ | (0.1 | ) |  | $ | 37.3 |  |  | $ | — |  |  | $ | — |  |  | $ | (0.1 | ) |  | $ | 37.3 |
Pre-refunded municipal bonds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Revenue municipal bonds |  |  | — |  |  |  | 14.4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14.4 |
Total |  | $ | (0.1 | ) |  | $ | 51.7 |  |  | $ | — |  |  | $ | — |  |  | $ | (0.1 | ) |  | $ | 51.7 |
|  | May 31, 2010 |
|  | Less than |  |  | More than |  |  |  |
|  | twelve months |  |  | twelve months |  |  | Total |
|  | Gross |  |  |  |  |  | Gross |  |  |  |  |  | Gross |  |  |  |
|  | unrealized |  |  | Fair |  |  | unrealized |  |  | Fair |  |  | unrealized |  |  | Fair |
In millions |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General obligation municipal bonds |  | $ | (0.3 | ) |  | $ | 44.0 |  |  | $ | — |  |  | $ | — |  |  | $ | (0.3 | ) |  | $ | 44.0 |
Pre-refunded municipal bonds |  |  | — |  |  |  | 4.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4.1 |
Revenue municipal bonds |  |  | (0.1 | ) |  |  | 25.5 |  |  |  | — |  |  |  | — |  |  |  | (0.1 | ) |  |  | 25.5 |
Total |  | $ | (0.4 | ) |  | $ | 73.6 |  |  | $ | — |  |  | $ | — |  |  | $ | (0.4 | ) |  | $ | 73.6 |
Realized gains and losses on the sales of available-for-sale securities |
|  | Year ended May 31, |
In millions |  | 2011 |  |  | 2010 |  |  | 2009 |
Gross realized gains |  | $ | 1.3 |  |  | $ | 3.2 |  |  | $ | 1.2 |
Gross realized losses |  |  | — |  |  |  | — |  |  |  | (0.1 | )
Net realized gains |  | $ | 1.3 |  |  | $ | 3.2 |  |  | $ | 1.1 |
Amortized cost and fair value of available-for-sale securities having contractual maturity |
|  | May 31, 2011 |
|  | Amortized |  |  | Fair |
In millions |  | cost |  |  | value |
Maturity date: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 408.7 |  |  | $ | 412.3 |
Due after one year through three years |  |  | 603.0 |  |  |  | 626.9 |
Due after three years through five years |  |  | 570.8 |  |  |  | 592.7 |
Due after five years |  |  | 1,095.4 |  |  |  | 1,105.3 |
Total |  | $ | 2,677.9 |  |  | $ | 2,737.2 |

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- Definition This item represents the entire disclosure related to the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments of such investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 7, 13, 16, 22 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 21 -Subparagraph d Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 12 -Subparagraph a, b + Details
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