Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

v2.4.0.8
Comprehensive Income
 9 Months Ended
Nov. 30, 2013
Equity [Abstract]  
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME:

Comprehensive income consists of net income, foreign currency translation adjustments, net unrealized gains (losses) on derivative instruments, net unrealized losses (gains) on AFS debt securities and pension/postretirement adjustments. The reconciliation of net income to comprehensive income is as follows:
 
Before Tax
Amount
 
Tax (Expense)Benefit
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Nine Months Ended November 30, 2013
 
 
 
 
 
Net income
 
 
 
 
$
1,785.9

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(39.0
)
 
$
(2.4
)
 
(41.4
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(39.0
)
 
(2.4
)
 
(41.4
)
Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative gains
2.0

 
(0.7
)
 
1.3

Reclassification adjustments
5.3

 
(2.4
)
 
2.9

Net gain recognized in other comprehensive loss
7.3

 
(3.1
)
 
4.2

Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(1.8
)
 
(0.3
)
 
(2.1
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(1.8
)
 
(0.3
)
 
(2.1
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.7

 
(0.2
)
 
0.5

Reclassification adjustments
0.9

 
(0.2
)
 
0.7

Net gain recognized in other comprehensive loss
1.6

 
(0.4
)
 
1.2

Other comprehensive loss
$
(31.9
)
 
$
(6.2
)
 
(38.1
)
Total comprehensive income
 
 
 
 
$
1,747.8

 
 
 
 
 
 
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 (Expense)Benefit
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Three Months Ended November 30, 2013
 
 
 
 
 
Net income
 
 
 
 
$
211.0

Other comprehensive income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net gains
$
27.4

 
$
(0.8
)
 
26.6

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
27.4

 
(0.8
)
 
26.6

Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative losses
(0.4
)
 
1.1

 
0.7

Reclassification adjustments
1.7

 
(0.8
)
 
0.9

Net gain recognized in other comprehensive income
1.3

 
0.3

 
1.6

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

 
(0.2
)
 
0.9

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
1.1

 
(0.2
)
 
0.9

Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.1

 
—

 
0.1

Reclassification adjustments
0.3

 
(0.1
)
 
0.2

Net gain recognized in other comprehensive income
0.4

 
(0.1
)
 
0.3

Other comprehensive income
$
30.2

 
$
(0.8
)
 
29.4

Total comprehensive income
 
 
 
 
$
240.4

 
 
 
 
 
 
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



Accumulated other comprehensive income (“AOCI”), net of income tax effect, includes the following components:
 
Foreign
Currency
Translation
Adjustments
 
Net
Unrealized
(Losses) Gains on
Derivative Instruments
 
Net
Unrealized
Gains (Losses)
on AFS Debt
Securities
 
Pension/
Postretirement
Adjustments
 
Accumulated
Other
Comprehensive
Income
(in millions)
 
 
 
 
 
 
 
 
 
Balance, February 28, 2013
$
170.4

 
$
(20.2
)
 
$
1.4

 
$
(19.5
)
 
$
132.1

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassification adjustments
(41.4
)
 
1.3

 
(2.1
)
 
0.5

 
(41.7
)
Amounts reclassified from accumulated other comprehensive income
—

 
2.9

 
—

 
0.7

 
3.6

Other comprehensive (loss) income
(41.4
)
 
4.2

 
(2.1
)
 
1.2

 
(38.1
)
Balance, November 30, 2013
$
129.0

 
$
(16.0
)
 
$
(0.7
)
 
$
(18.3
)
 
$
94.0