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Income Taxes (Tables) | 12 Months Ended
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May 31, 2014
Income Tax Disclosure [Abstract] |
Components of deferred tax assets and liabilities | The components of deferred tax assets and liabilities are as follows:
|  | May 31,
In millions |  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Compensation and employee benefit liabilities |  | $ | 18.7 |  |  | $ | 16.3 |
Other current liabilities |  | 6.9 |  |  | 6.3 |
Tax credit carry forward |  | 38.3 |  |  | 35.3 |
Depreciation |  | 8.3 |  |  | 8.5 |
Stock-based compensation |  | 21.1 |  |  | 24.6 |
Other |  | 15.4 |  |  | 16.6 |
Gross deferred tax assets |  | 108.7 |  |  | 107.6 |
Deferred tax liabilities: |  |  |  |
Capitalized software |  | 50.1 |  |  | 45.8 |
Depreciation |  | 12.2 |  |  | 20.2 |
Goodwill and Intangible assets |  | 46.7 |  |  | 41.0 |
Revenue not subject to current taxes |  | 12.6 |  |  | 11.7 |
Unrealized gains on available-for-sale securities |  | 13.2 |  |  | 13.3 |
Other |  | 0.4 |  |  | 0.6 |
Gross deferred tax liabilities |  | 135.2 |  |  | 132.6 |
Net deferred tax liability |  | $ | (26.5 | ) |  | $ | (25.0 | )
Components of provision for income taxes | The components of the provision for income taxes are as follows:
|  | Year ended May 31,
In millions |  | 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |  |
Federal |  | $ | 314.5 |  |  | $ | 274.2 |  |  | $ | 259.8 |
State |  | 51.0 |  |  | 62.9 |  |  | 40.8 |
Total current |  | 365.5 |  |  | 337.1 |  |  | 300.6 |
Deferred: |  |  |  |  |  |
Federal |  | (3.5 | ) |  | 5.5 |  |  | 9.3 |
State |  | (1.4 | ) |  | (0.2 | ) |  | 2.4 |
Total deferred |  | (4.9 | ) |  | 5.3 |  |  | 11.7 |
Provision for income taxes |  | $ | 360.6 |  |  | $ | 342.4 |  |  | $ | 312.3 |
Reconciliation of U.S. federal statutory tax rate | A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:
|  | Year ended May 31,
|  | 2014 |  | 2013 |  | 2012
Federal statutory tax rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Increase/(decrease) resulting from: |  |  |  |  |  |
State income taxes, net of federal tax benefit |  | 3.3 | % |  | 3.0 | % |  | 3.3 | %
Tax settlement |  | — | % |  | 1.5 | % |  | — | %
Tax-exempt municipal bond interest |  | (1.5 | )% |  | (1.7 | )% |  | (1.8 | )%
Other items |  | (0.3 | )% |  | (0.2 | )% |  | (0.2 | )%
Effective income tax rate |  | 36.5 | % |  | 37.6 | % |  | 36.3 | %
Reconciliation of gross unrecognized tax benefits, not including interest or other potential offsetting effects | A reconciliation of the beginning and ending amounts of the Company’s gross unrecognized tax benefits, not including interest or other potential offsetting effects, is as follows:
|  | Year ended May 31,
In millions |  | 2014 |  | 2013 |  | 2012
Balance as of beginning of fiscal year |  | $ | 26.7 |  |  | $ | 41.7 |  |  | $ | 41.2 |
Additions for tax positions of the current year |  | 11.2 |  |  | 28.5 |  |  | 0.4 |
Additions for tax positions of prior years |  | 4.2 |  |  | 12.2 |  |  | 1.3 |
Reductions for tax positions of prior years |  | (1.8 | ) |  | (0.5 | ) |  | (0.1 | )
Settlements with tax authorities |  | — |  |  | (55.0 | ) |  | (0.7 | )
Expiration of the statute of limitations |  | (0.3 | ) |  | (0.2 | ) |  | (0.4 | )
Balance as of end of fiscal year |  | $ | 40.0 |  |  | $ | 26.7 |  |  | $ | 41.7 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
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