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v3.19.1

Funds Held for Clients and Corporate Investments (Tables) | 9 Months Ended
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Feb. 28, 2019
Funds Held for Clients and Corporate Investments [Abstract] |
Funds Held for Clients and Corporate Investments | ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | February 28, 2019
﻿ |  |  |  |  | Gross |  | Gross |  |  |
﻿ |  | Amortized |  | unrealized |  | unrealized |  | Fair
﻿In millions |  | cost |  | gains |  | losses |  | value
﻿Type of issue: |  |  |  |  |  |  |  |  |  |  |  |
﻿Funds held for clients’ money market securities and other cash equivalents |  | $ | 2,874.7 |  | $ | — |  | $ | — |  | $ | 2,874.7
﻿Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
﻿Corporate bonds |  |  | 410.9 |  |  | 1.5 |  |  | (4.3) |  |  | 408.1
﻿General obligation municipal bonds |  |  | 870.1 |  |  | 3.6 |  |  | (2.6) |  |  | 871.1
﻿Pre-refunded municipal bonds(1) |  |  | 47.8 |  |  | 0.2 |  |  | — |  |  | 48.0
﻿Revenue municipal bonds |  |  | 562.7 |  |  | 2.1 |  |  | (1.9) |  |  | 562.9
﻿U.S. government agency securities |  |  | 493.7 |  |  | 0.6 |  |  | (9.0) |  |  | 485.3
﻿Variable rate demand notes |  |  | 181.9 |  |  | — |  |  | — |  |  | 181.9
﻿Total available-for-sale securities |  |  | 2,567.1 |  |  | 8.0 |  |  | (17.8) |  |  | 2,557.3
﻿Other |  |  | 27.3 |  |  | 2.0 |  |  | (0.2) |  |  | 29.1
﻿Total funds held for clients and corporate investments |  | $ | 5,469.1 |  | $ | 10.0 |  | $ | (18.0) |  | $ | 5,461.1
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | May 31, 2018
﻿ |  |  |  |  | Gross |  | Gross |  |  |
﻿ |  | Amortized |  | unrealized |  | unrealized |  | Fair
﻿In millions |  | cost |  | gains |  | losses |  | value
﻿Type of issue: |  |  |  |  |  |  |  |  |  |  |  |
﻿Funds held for clients’ money market securities and other cash equivalents |  | $ | 1,942.3 |  | $ | — |  | $ | — |  | $ | 1,942.3
﻿Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
﻿Corporate bonds |  |  | 328.6 |  |  | 0.1 |  |  | (7.3) |  |  | 321.4
﻿General obligation municipal bonds |  |  | 1,231.6 |  |  | 1.3 |  |  | (11.2) |  |  | 1,221.7
﻿Pre-refunded municipal bonds(1) |  |  | 50.9 |  |  | 0.1 |  |  | (0.1) |  |  | 50.9
﻿Revenue municipal bonds |  |  | 813.5 |  |  | 0.9 |  |  | (8.0) |  |  | 806.4
﻿U.S. government agency securities |  |  | 410.2 |  |  | — |  |  | (14.1) |  |  | 396.1
﻿Variable rate demand notes |  |  | 308.3 |  |  | — |  |  | — |  |  | 308.3
﻿Total available-for-sale securities |  |  | 3,143.1 |  |  | 2.4 |  |  | (40.7) |  |  | 3,104.8
﻿Other |  |  | 16.1 |  |  | 2.1 |  |  | — |  |  | 18.2
﻿Total funds held for clients and corporate investments |  | $ | 5,101.5 |  | $ | 4.5 |  | $ | (40.7) |  | $ | 5,065.3
﻿ (1) Pre-refunded municipal bonds are secured by an escrow fund of U.S. government obligations.
Classification of Investments on Consolidated Balance Sheets |
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | February 28, |  | May 31,
﻿In millions |  | 2019 |  | 2018
﻿Funds held for clients |  | $ | 5,405.5 |  | $ | 4,703.8
﻿Corporate investments |  |  | 35.6 |  |  | 66.0
﻿Long-term corporate investments |  |  | 20.0 |  |  | 295.5
﻿Total funds held for clients and corporate investments |  | $ | 5,461.1 |  | $ | 5,065.3
﻿
Securities in Unrealized Loss Position | ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | February 28, 2019
﻿ |  | Securities in an unrealized loss position for less than twelve months |  | Securities in an unrealized loss position for more than twelve months |  | Total
﻿ |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |  |  |
﻿ |  | unrealized |  | Fair |  | unrealized |  | Fair |  | unrealized |  | Fair
﻿In millions |  | losses |  | value |  | losses |  | value |  | losses |  | value
﻿Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Corporate bonds |  | $ | (0.1) |  | $ | 23.0 |  | $ | (4.2) |  | $ | 262.4 |  | $ | (4.3) |  | $ | 285.4
﻿General obligation municipal bonds |  |  | (0.1) |  |  | 56.2 |  |  | (2.5) |  |  | 397.8 |  |  | (2.6) |  |  | 454.0
﻿Pre-refunded municipal bonds |  |  | — |  |  | 0.1 |  |  | — |  |  | 5.5 |  |  | — |  |  | 5.6
﻿Revenue municipal bonds |  |  | — |  |  | 13.2 |  |  | (1.9) |  |  | 273.5 |  |  | (1.9) |  |  | 286.7
﻿U.S. government agency securities |  |  | (0.4) |  |  | 41.5 |  |  | (8.6) |  |  | 380.4 |  |  | (9.0) |  |  | 421.9
﻿Total |  | $ | (0.6) |  | $ | 134.0 |  | $ | (17.2) |  | $ | 1,319.6 |  | $ | (17.8) |  | $ | 1,453.6
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | May 31, 2018
﻿ |  | Securities in an unrealized loss position for less than twelve months |  | Securities in an unrealized loss position for more than twelve months |  | Total
﻿ |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |  |  |
﻿ |  | unrealized |  | Fair |  | unrealized |  | Fair |  | unrealized |  | Fair
﻿In millions |  | losses |  | value |  | losses |  | value |  | losses |  | value
﻿Type of issue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Corporate bonds |  | $ | (6.0) |  | $ | 271.5 |  | $ | (1.3) |  | $ | 34.6 |  | $ | (7.3) |  | $ | 306.1
﻿General obligation municipal bonds |  |  | (8.7) |  |  | 856.4 |  |  | (2.5) |  |  | 68.9 |  |  | (11.2) |  |  | 925.3
﻿Pre-refunded municipal bonds |  |  | (0.1) |  |  | 18.5 |  |  | — |  |  | 0.5 |  |  | (0.1) |  |  | 19.0
﻿Revenue municipal bonds |  |  | (6.3) |  |  | 540.9 |  |  | (1.7) |  |  | 50.9 |  |  | (8.0) |  |  | 591.8
﻿U.S. government agency securities |  |  | (6.4) |  |  | 219.7 |  |  | (7.7) |  |  | 176.4 |  |  | (14.1) |  |  | 396.1
﻿Total |  | $ | (27.5) |  | $ | 1,907.0 |  | $ | (13.2) |  | $ | 331.3 |  | $ | (40.7) |  | $ | 2,238.3
﻿
Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity |
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | February 28, 2019
﻿ |  |  |  |  |  |
﻿ |  | Amortized |  | Fair
﻿In millions |  | cost |  | value
﻿Maturity date: |  |  |  |  |  |
﻿Due in one year or less |  | $ | 154.6 |  | $ | 154.5
﻿Due after one year through three years |  |  | 810.0 |  |  | 808.7
﻿Due after three years through five years |  |  | 989.8 |  |  | 984.9
﻿Due after five years |  |  | 612.7 |  |  | 609.2
﻿Total |  | $ | 2,567.1 |  | $ | 2,557.3
﻿

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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