Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

v2.4.1.9
Comprehensive Income
 9 Months Ended
Nov. 30, 2014
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 (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, 2014
 
 
 
 
 
Net income
 
 
 
 
$
624.7

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(82.1
)
 
$
(2.0
)
 
(84.1
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(82.1
)
 
(2.0
)
 
(84.1
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(14.7
)
 
4.3

 
(10.4
)
Reclassification adjustments
1.4

 
(1.3
)
 
0.1

Net loss recognized in other comprehensive loss
(13.3
)
 
3.0

 
(10.3
)
Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(0.5
)
 
—

 
(0.5
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(0.5
)
 
—

 
(0.5
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.5

 
(0.2
)
 
0.3

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive loss
0.5

 
(0.2
)
 
0.3

Other comprehensive loss
$
(95.4
)
 
$
0.8

 
(94.6
)
Total comprehensive income
 
 
 
 
$
530.1

 
 
 
 
 
 
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

 
 
 
 
 
 
 
Before Tax
Amount
 
Tax (Expense) Benefit
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Three Months Ended November 30, 2014
 
 
 
 
 
Net income
 
 
 
 
$
222.2

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(97.9
)
 
$
(0.8
)
 
(98.7
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(97.9
)
 
(0.8
)
 
(98.7
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(21.1
)
 
5.9

 
(15.2
)
Reclassification adjustments
1.5

 
(0.7
)
 
0.8

Net loss recognized in other comprehensive loss
(19.6
)
 
5.2

 
(14.4
)
Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(0.7
)
 
0.1

 
(0.6
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(0.7
)
 
0.1

 
(0.6
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.5

 
(0.2
)
 
0.3

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive loss
0.5

 
(0.2
)
 
0.3

Other comprehensive loss
$
(117.7
)
 
$
4.3

 
(113.4
)
Total comprehensive income
 
 
 
 
$
108.8

 
 
 
 
 
 
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



Accumulated other comprehensive income (loss) (“AOCI”), net of income tax effect, includes the following components:
 
Foreign
Currency
Translation
Adjustments
 
Net
Unrealized
Losses on
Derivative Instruments
 
Net
Unrealized
Losses
on AFS Debt
Securities
 
Pension/
Postretirement
Adjustments
 
Accumulated
Other
Comprehensive
Income (Loss)
(in millions)
 
 
 
 
 
 
 
 
 
Balance, February 28, 2014
$
103.6

 
$
(8.9
)
 
$
(1.5
)
 
$
(7.2
)
 
$
86.0

Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassification adjustments
(84.1
)
 
(10.4
)
 
(0.5
)
 
0.3

 
(94.7
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
0.1

 
—

 
—

 
0.1

Other comprehensive (loss) income
(84.1
)
 
(10.3
)
 
(0.5
)
 
0.3

 
(94.6
)
Balance, November 30, 2014
$
19.5

 
$
(19.2
)
 
$
(2.0
)
 
$
(6.9
)
 
$
(8.6
)