| COMPREHENSIVE INCOME (LOSS) |
| 15. |
COMPREHENSIVE INCOME (LOSS): |
Comprehensive income (loss) consists of net income, foreign currency translation adjustments, net unrealized losses on
derivative instruments, net unrealized losses on AFS debt securities and pension/postretirement adjustments. The reconciliation of net income to comprehensive income is as follows:
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Before Tax
Amount
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Tax (Expense)
Benefit
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Net of Tax
Amount
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(in millions)
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For the Nine Months Ended November 30, 2011
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Net income
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$ |
342.0 |
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Other comprehensive (loss) income:
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|
|
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Foreign currency translation adjustments:
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Net losses
|
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$ |
(46.1 |
) |
|
$ |
1.0 |
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|
(45.1 |
) |
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Reclassification adjustments
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6.3 |
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- |
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6.3 |
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Net loss recognized in other comprehensive income
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(39.8 |
) |
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1.0 |
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(38.8 |
) |
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Unrealized loss on cash flow hedges:
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Net derivative losses
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(28.4 |
) |
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12.6 |
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(15.8 |
) |
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Reclassification adjustments
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(6.2 |
) |
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0.8 |
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(5.4 |
) |
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Net loss recognized in other comprehensive income
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(34.6 |
) |
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13.4 |
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(21.2 |
) |
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Unrealized loss on AFS debt securities:
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Net AFS debt securities gains
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1.5 |
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|
- |
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1.5 |
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Reclassification adjustments
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(3.2 |
) |
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|
- |
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(3.2 |
) |
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Net loss recognized in other comprehensive income
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(1.7 |
) |
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- |
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(1.7 |
) |
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Pension/postretirement adjustments:
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Net gains arising during the period
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0.6 |
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(0.2 |
) |
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0.4 |
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Reclassification adjustments
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0.3 |
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|
- |
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0.3 |
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Net gain recognized in other comprehensive income
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0.9 |
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(0.2 |
) |
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0.7 |
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Other comprehensive loss
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$ |
(75.2 |
) |
|
$ |
14.2 |
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|
(61.0 |
) |
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Total comprehensive income
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$ |
281.0 |
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For the Nine Months Ended November 30, 2010
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|
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Net income
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|
|
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$ |
279.7 |
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Other comprehensive income (loss):
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Foreign currency translation adjustments:
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Net gains
|
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$ |
100.2 |
|
|
$ |
(7.3 |
) |
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|
92.9 |
|
|
Reclassification adjustments
|
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|
- |
|
|
|
- |
|
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|
- |
|
| |
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Net gain recognized in other comprehensive income
|
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|
100.2 |
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|
(7.3 |
) |
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|
92.9 |
|
|
Unrealized loss on cash flow hedges:
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|
|
|
|
|
|
|
|
|
|
|
|
Net derivative losses
|
|
|
(3.7 |
) |
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|
0.3 |
|
|
|
(3.4 |
) |
|
Reclassification adjustments
|
|
|
(19.9 |
) |
|
|
5.0 |
|
|
|
(14.9 |
) |
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|
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Net loss recognized in other comprehensive income
|
|
|
(23.6 |
) |
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|
5.3 |
|
|
|
(18.3 |
) |
|
Pension/postretirement adjustments:
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|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses arising during the period
|
|
|
(3.1 |
) |
|
|
1.9 |
|
|
|
(1.2 |
) |
|
Reclassification adjustments
|
|
|
7.4 |
|
|
|
(2.1 |
) |
|
|
5.3 |
|
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|
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Net gain recognized in other comprehensive income
|
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|
4.3 |
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|
|
(0.2 |
) |
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|
4.1 |
|
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Other comprehensive income
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|
$ |
80.9 |
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|
$ |
(2.2 |
) |
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|
78.7 |
|
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|
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|
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Total comprehensive income
|
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|
$ |
358.4 |
|
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|
$000,000,000 |
|
|
|
$000,000,000 |
|
|
|
$000,000,000 |
|
| |
|
Before Tax
Amount
|
|
|
Tax (Expense)
Benefit |
|
|
Net of Tax
Amount
|
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended November 30, 2011
|
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|
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|
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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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
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|
Net loss recognized in other comprehensive income
|
|
|
(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 income
|
|
|
(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 income
|
|
|
(1.5 |
) |
|
|
- |
|
|
|
(1.5 |
) |
|
Pension/postretirement adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains arising during the period
|
|
|
0.6 |
|
|
|
(0.2 |
) |
|
|
0.4 |
|
|
Reclassification adjustments
|
|
|
0.1 |
|
|
|
- |
|
|
|
0.1 |
|
| |
|
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|
|
|
|
|
|
|
|
|
Net gain recognized in other comprehensive income
|
|
|
0.7 |
|
|
|
(0.2 |
) |
|
|
0.5 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive loss
|
|
$ |
(92.5 |
) |
|
$ |
3.5 |
|
|
|
(89.0 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
|
|
|
|
|
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|
$ |
15.8 |
|
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|
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|
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|
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|
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|
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|
|
|
|
For the Three Months Ended November 30, 2010
|
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|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
|
|
|
|
|
|
$ |
139.3 |
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gains
|
|
$ |
114.5 |
|
|
$ |
(5.7 |
) |
|
|
108.8 |
|
|
Reclassification adjustments
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain recognized in other comprehensive income
|
|
|
114.5 |
|
|
|
(5.7 |
) |
|
|
108.8 |
|
|
Unrealized gain on cash flow hedges:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net derivative gains
|
|
|
15.4 |
|
|
|
(4.8 |
) |
|
|
10.6 |
|
|
Reclassification adjustments
|
|
|
(6.6 |
) |
|
|
1.6 |
|
|
|
(5.0 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain recognized in other comprehensive income
|
|
|
8.8 |
|
|
|
(3.2 |
) |
|
|
5.6 |
|
|
Pension/postretirement adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net losses arising during the period
|
|
|
(2.4 |
) |
|
|
1.5 |
|
|
|
(0.9 |
) |
|
Reclassification adjustments
|
|
|
2.5 |
|
|
|
(0.7 |
) |
|
|
1.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net gain recognized in other comprehensive income
|
|
|
0.1 |
|
|
|
0.8 |
|
|
|
0.9 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
|
|
$ |
123.4 |
|
|
$ |
(8.1 |
) |
|
|
115.3 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
$ |
254.6 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (“AOCI”), net of income tax effect, includes the following components:
| |
|
|
$000,000,000 |
|
|
|
$000,000,000 |
|
|
|
$000,000,000 |
|
|
|
$000,000,000 |
|
|
|
$000,000,000 |
|
| |
|
Foreign
Currency
Translation
Adjustments
|
|
|
Net
Unrealized
Gains
(Losses) on
Derivatives
|
|
|
Net
Unrealized
Gains (Losses)
on AFS Debt
Securities
|
|
|
Pension/
Postretirement
Adjustments
|
|
|
Accumulated
Other
Comprehensive
Income
|
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, February 28, 2011
|
|
$ |
193.2 |
|
|
$ |
4.2 |
|
|
$ |
0.8 |
|
|
$ |
(9.4 |
) |
|
$ |
188.8 |
|
|
Current period change
|
|
|
(38.8 |
) |
|
|
(21.2 |
) |
|
|
(1.7 |
) |
|
|
0.7 |
|
|
|
(61.0 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, November 30, 2011
|
|
$ |
154.4 |
|
|
$ |
(17.0 |
) |
|
$ |
(0.9 |
) |
|
$ |
(8.7 |
) |
|
$ |
127.8 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|