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Funds Held for Clients and Corporate Investments (Tables) | 9 Months Ended
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Feb. 28, 2021
Funds Held for Clients and Corporate Investments [Abstract] |
Funds Held for Clients and Corporate Investments |
|  | February 28, 2021
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | unrealized |  | unrealized |  | Fair
In millions |  | cost |  | gains |  | losses |  | value
Type of issue: |  |  |  |  |  |  |  |  |  |  |  |
Funds held for clients' money market securities and other restricted cash equivalents |  | $ | 1,184.9 |  | $ | — |  | $ | — |  | $ | 1,184.9
AFS securities: |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  |  | 82.3 |  |  | 1.6 |  |  | — |  |  | 83.9
Corporate bonds |  |  | 626.4 |  |  | 30.4 |  |  | (0.2) |  |  | 656.6
Municipal bonds |  |  | 1,699.3 |  |  | 33.9 |  |  | (2.9) |  |  | 1,730.3
U.S. government agency and treasury securities |  |  | 546.2 |  |  | 20.6 |  |  | (1.3) |  |  | 565.5
VRDNs |  |  | 171.1 |  |  | — |  |  | — |  |  | 171.1
Total AFS securities |  |  | 3,125.3 |  |  | 86.5 |  |  | (4.4) |  |  | 3,207.4
Other |  |  | 26.3 |  |  | 6.3 |  |  | — |  |  | 32.6
Total funds held for clients and corporate investments |  | $ | 4,336.5 |  | $ | 92.8 |  | $ | (4.4) |  | $ | 4,424.9
|  | 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 restricted cash equivalents |  | $ | 683.5 |  | $ | — |  | $ | — |  | $ | 683.5
AFS 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 AFS 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
Classification of Investments on Consolidated Balance Sheets |
|  | February 28, |  | May 31,
In millions |  | 2021 |  | 2020
Funds held for clients |  | $ | 4,211.3 |  | $ | 3,430.5
Corporate investments |  |  | 203.7 |  |  | 27.2
Long-term corporate investments |  |  | 9.9 |  |  | 10.2
Total funds held for clients and corporate investments |  | $ | 4,424.9 |  | $ | 3,467.9
Securities in Unrealized Loss Position |
|  | February 28, 2021
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | — |  | $ | 7.1 |  | $ | — |  | $ |  |  | $ | — |  | $ | 7.1
Corporate bonds |  |  | (0.2) |  |  | 22.6 |  |  | — |  |  | — |  |  | (0.2) |  |  | 22.6
Municipal bonds |  |  | (2.9) |  |  | 300.7 |  |  | — |  |  | — |  |  | (2.9) |  |  | 300.7
U.S. government agency and treasury securities |  |  | (1.3) |  |  | 104.8 |  |  | — |  |  | — |  |  | (1.3) |  |  | 104.8
Total |  | $ | (4.4) |  | $ | 435.2 |  | $ | — |  | $ | — |  | $ | (4.4) |  | $ | 435.2
|  | 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
Realized Gains and Losses from Sale of Available-for-sale Securities |
|  | For the three months ended |  | For the nine months ended
|  | February 28, |  | February 29, |  | February 28, |  | February 29,
In millions |  | 2021 |  | 2020 |  | 2021 |  | 2020
Gross realized gains |  | $ | 0.3 |  | $ | 0.6 |  | $ | 1.0 |  | $ | 2.4
Gross realized losses |  |  | — |  |  | — |  |  | — |  |  | —
Net realized gains |  | $ | 0.3 |  | $ | 0.6 |  | $ | 1.0 |  | $ | 2.4
Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity |
|  | February 28, 2021
|  | Amortized |  | Fair
In millions |  | cost |  | value
Maturity date: |  |  |  |  |  |
Due in one year or less |  | $ | 336.0 |  | $ | 338.8
Due after one year through three years |  |  | 769.1 |  |  | 797.3
Due after three years through five years |  |  | 876.4 |  |  | 912.5
Due after five years |  |  | 1,143.8 |  |  | 1,158.8
Total |  | $ | 3,125.3 |  | $ | 3,207.4

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