Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

v2.4.0.6
Comprehensive Income
 9 Months Ended
Nov. 30, 2012
Equity [Abstract]  
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME:

Comprehensive income consists of net income, foreign currency translation adjustments, net unrealized (losses) gains on derivative instruments, net unrealized gains (losses) on AFS debt securities and pension/postretirement adjustments. The reconciliation of net income to comprehensive income is as follows:

 
Before Tax
Amount
 
Tax Benefit
(Expense)
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Nine Months Ended November 30, 2012
 
 
 
 
 
Net income
 
 
 
 
$
306.1

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(11.0
)
 
$
5.4

 
(5.6
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(11.0
)
 
5.4

 
(5.6
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(10.0
)
 
4.0

 
(6.0
)
Reclassification adjustments
4.5

 
(2.5
)
 
2.0

Net loss recognized in other comprehensive loss
(5.5
)
 
1.5

 
(4.0
)
Unrealized gain on AFS debt securities:
 
 
 
 
 
Net AFS debt securities gains
1.1

 
(0.4
)
 
0.7

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive loss
1.1

 
(0.4
)
 
0.7

Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.1

 
—

 
0.1

Reclassification adjustments
0.6

 
(0.2
)
 
0.4

Net gain recognized in other comprehensive loss
0.7

 
(0.2
)
 
0.5

Other comprehensive loss
$
(14.7
)
 
$
6.3

 
(8.4
)
Total comprehensive income
 
 
 
 
$
297.7

 
 
 
 
 
 
 
Before Tax
Amount
 
Tax Benefit
(Expense)
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Nine Months Ended November 30, 2011
 
 
 
 
 
Net income
 
 
 
 
$
342.0

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(46.1
)
 
$
1.0

 
(45.1
)
Reclassification adjustments
6.3

 
—

 
6.3

Net loss recognized in other comprehensive loss
(39.8
)
 
1.0

 
(38.8
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(28.4
)
 
12.6

 
(15.8
)
Reclassification adjustments
(6.2
)
 
0.8

 
(5.4
)
Net loss recognized in other comprehensive loss
(34.6
)
 
13.4

 
(21.2
)
Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities gains
1.5

 
—

 
1.5

Reclassification adjustments
(3.2
)
 
—

 
(3.2
)
Net loss recognized in other comprehensive loss
(1.7
)
 
—

 
(1.7
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.6

 
(0.2
)
 
0.4

Reclassification adjustments
0.3

 
—

 
0.3

Net gain recognized in other comprehensive loss
0.9

 
(0.2
)
 
0.7

Other comprehensive loss
$
(75.2
)
 
$
14.2

 
(61.0
)
Total comprehensive income
 
 
 
 
$
281.0

 
 
 
 
 
 
For the Three Months Ended November 30, 2012
 
 
 
 
 
Net income
 
 
 
 
$
109.5

Other comprehensive income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net gains
$
1.4

 
$
1.9

 
3.3

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
1.4

 
1.9

 
3.3

Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative gains
2.8

 
(0.7
)
 
2.1

Reclassification adjustments
2.2

 
(1.0
)
 
1.2

Net gain recognized in other comprehensive income
5.0

 
(1.7
)
 
3.3

Unrealized gain on AFS debt securities:
 
 
 
 
 
Net AFS debt securities gains
1.1

 
(0.3
)
 
0.8

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
1.1

 
(0.3
)
 
0.8

Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.2

 
(0.1
)
 
0.1

Reclassification adjustments
0.2

 
(0.1
)
 
0.1

Net gain recognized in other comprehensive income
0.4

 
(0.2
)
 
0.2

Other comprehensive income
$
7.9

 
$
(0.3
)
 
7.6

Total comprehensive income
 
 
 
 
$
117.1

 
 
 
 
 
 
 
Before Tax
Amount
 
Tax Benefit
(Expense)
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Three Months Ended November 30, 2011
 
 
 
 
 
Net income
 
 
 
 
$
104.8

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(88.1
)
 
$
1.5

 
(86.6
)
Reclassification adjustments
6.3

 
—

 
6.3

Net loss recognized in other comprehensive loss
(81.8
)
 
1.5

 
(80.3
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(8.8
)
 
2.4

 
(6.4
)
Reclassification adjustments
(1.1
)
 
(0.2
)
 
(1.3
)
Net loss recognized in other comprehensive loss
(9.9
)
 
2.2

 
(7.7
)
Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities gains
1.7

 
—

 
1.7

Reclassification adjustments
(3.2
)
 
—

 
(3.2
)
Net loss recognized in other comprehensive loss
(1.5
)
 
—

 
(1.5
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.6

 
(0.2
)
 
0.4

Reclassification adjustments
0.1

 
—

 
0.1

Net gain recognized in other comprehensive loss
0.7

 
(0.2
)
 
0.5

Other comprehensive loss
$
(92.5
)
 
$
3.5

 
(89.0
)
Total comprehensive income
 
 
 
 
$
15.8


Accumulated other comprehensive income (“AOCI”), net of income tax effect, includes the following components:

 
Foreign
Currency
Translation
Adjustments
 
Net
Unrealized
Losses on
Derivatives
 
Net
Unrealized
Gains
on AFS Debt
Securities
 
Pension/
Postretirement
Adjustments
 
Accumulated
Other
Comprehensive
Income
(in millions)
 
 
 
 
 
 
 
 
 
Balance, February 29, 2012
$
207.8

 
$
(20.5
)
 
$
1.0

 
$
(14.6
)
 
$
173.7

Current period change
(5.6
)
 
(4.0
)
 
0.7

 
0.5

 
(8.4
)
Balance, November 30, 2012
$
202.2

 
$
(24.5
)
 
$
1.7

 
$
(14.1
)
 
$
165.3