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Funds Held for Clients and Corporate Investments (Tables) | 12 Months Ended
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May 31, 2020
Funds Held for Clients and Corporate Investments [Abstract] |
Funds Held for Clients and Corporate Investments |
|  | May 31, 2020
|  |  |  |  | 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 |  | $ | 683.5 |  | $ | — |  | $ | — |  | $ | 683.5
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | 68.0 |  |  | 1.7 |  |  | — |  |  | 69.7
Corporate bonds |  |  | 649.6 |  |  | 34.1 |  |  | (0.1) |  |  | 683.6
Municipal bonds |  |  | 1,373.8 |  |  | 37.4 |  |  | (1.6) |  |  | 1,409.6
U.S. government agency and treasury securities |  |  | 565.8 |  |  | 28.5 |  |  | — |  |  | 594.3
Total available-for-sale securities |  |  | 2,657.2 |  |  | 101.7 |  |  | (1.7) |  |  | 2,757.2
Other |  |  | 25.4 |  |  | 2.2 |  |  | (0.4) |  |  | 27.2
Total funds held for clients and corporate investments |  | $ | 3,366.1 |  | $ | 103.9 |  | $ | (2.1) |  | $ | 3,467.9
|  | May 31, 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 |  | $ | 204.5 |  | $ | — |  | $ | — |  | $ | 204.5
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | 5.3 |  |  | — |  |  | — |  |  | 5.3
Corporate bonds |  |  | 442.1 |  |  | 5.3 |  |  | (0.9) |  |  | 446.5
Municipal bonds |  |  | 1,411.6 |  |  | 12.4 |  |  | (0.5) |  |  | 1,423.5
U.S. government agency and treasury securities |  |  | 612.5 |  |  | 4.7 |  |  | (1.3) |  |  | 615.9
Variable rate demand notes |  |  | 1,129.6 |  |  | — |  |  | — |  |  | 1,129.6
Total available-for-sale securities |  |  | 3,601.1 |  |  | 22.4 |  |  | (2.7) |  |  | 3,620.8
Other |  |  | 26.3 |  |  | 1.7 |  |  | (0.3) |  |  | 27.7
Total funds held for clients and corporate investments |  | $ | 3,831.9 |  | $ | 24.1 |  | $ | (3.0) |  | $ | 3,853.0
Classification of Investments on Consolidated Balance Sheets |
|  | May 31,
In millions |  | 2020 |  | 2019
Funds held for clients |  | $ | 3,430.5 |  | $ | 3,803.8
Corporate investments |  |  | 27.2 |  |  | 39.0
Long-term corporate investments |  |  | 10.2 |  |  | 10.2
Total funds held for clients and corporate investments |  | $ | 3,467.9 |  | $ | 3,853.0
Securities in Unrealized Loss Position |
|  | May 31, 2020
|  | 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) |  | $ | 6.5 |  | $ | — |  | $ | — |  | $ | (0.1) |  | $ | 6.5
Municipal bonds |  |  | (1.6) |  |  | 60.3 |  |  | — |  |  | — |  |  | (1.6) |  |  | 60.3
Total |  | $ | (1.7) |  | $ | 66.8 |  | $ | — |  | $ | — |  | $ | (1.7) |  | $ | 66.8
|  | May 31, 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 |  | $ | — |  | $ | 1.5 |  | $ | (0.9) |  | $ | 133.8 |  | $ | (0.9) |  | $ | 135.3
Municipal bonds |  |  | — |  |  | 3.2 |  |  | (0.5) |  |  | 249.1 |  |  | (0.5) |  |  | 252.3
U.S. government agency and treasury securities |  |  | — |  |  | 4.7 |  |  | (1.3) |  |  | 175.6 |  |  | (1.3) |  |  | 180.3
Total |  | $ | — |  | $ | 9.4 |  | $ | (2.7) |  | $ | 558.5 |  | $ | (2.7) |  | $ | 567.9
Realized Gains and Losses from Sale of Available-for-sale Securities |
|  | Year ended May 31,
In millions |  | 2020 |  | 2019 |  | 2018
Gross realized gains |  | $ | 11.6 |  | $ | 0.6 |  | $ | 0.3
Gross realized losses |  |  | (0.3) |  |  | (0.6) |  |  | (0.2)
Net realized gains |  | $ | 11.3 |  | $ | — |  | $ | 0.1
Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity |
|  | May 31, 2020
|  | Amortized |  | Fair
In millions |  | cost |  | value
Maturity date: |  |  |  |  |  |
Due in one year or less |  | $ | 353.4 |  | $ | 355.7
Due after one year through three years |  |  | 700.9 |  |  | 723.5
Due after three years through five years |  |  | 812.0 |  |  | 850.0
Due after five years |  |  | 790.9 |  |  | 828.0
Total |  | $ | 2,657.2 |  | $ | 2,757.2

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