Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

v2.4.0.8
Comprehensive Income
 6 Months Ended
Aug. 31, 2014
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 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 (Expense) Benefit
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Six Months Ended August 31, 2014
 
 
 
 
 
Net income
 
 
 
 
$
402.5

Other comprehensive income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net gains
$
15.8

 
$
(1.2
)
 
14.6

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
15.8

 
(1.2
)
 
14.6

Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative gains
6.4

 
(1.6
)
 
4.8

Reclassification adjustments
(0.1
)
 
(0.6
)
 
(0.7
)
Net gain recognized in other comprehensive income
6.3

 
(2.2
)
 
4.1

Unrealized gain on AFS debt securities:
 
 
 
 
 
Net AFS debt securities gains
0.2

 
(0.1
)
 
0.1

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
0.2

 
(0.1
)
 
0.1

Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
—

 
—

 
—

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive income
—

 
—

 
—

Other comprehensive income
$
22.3

 
$
(3.5
)
 
18.8

Total comprehensive income
 
 
 
 
$
421.3

 
 
 
 
 
 
For the Six Months Ended August 31, 2013
 
 
 
 
 
Net income
 
 
 
 
$
1,574.9

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(66.4
)
 
$
(1.6
)
 
(68.0
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(66.4
)
 
(1.6
)
 
(68.0
)
Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative gains
2.4

 
(1.8
)
 
0.6

Reclassification adjustments
3.6

 
(1.6
)
 
2.0

Net gain recognized in other comprehensive loss
6.0

 
(3.4
)
 
2.6

Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(2.9
)
 
(0.1
)
 
(3.0
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(2.9
)
 
(0.1
)
 
(3.0
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.6

 
(0.2
)
 
0.4

Reclassification adjustments
0.6

 
(0.1
)
 
0.5

Net gain recognized in other comprehensive loss
1.2

 
(0.3
)
 
0.9

Other comprehensive loss
$
(62.1
)
 
$
(5.4
)
 
(67.5
)
Total comprehensive income
 
 
 
 
$
1,507.4

 
 
 
 
 
 
 
Before Tax
Amount
 
Tax (Expense) Benefit
 
Net of Tax
Amount
(in millions)
 
 
 
 
 
For the Three Months Ended August 31, 2014
 
 
 
 
 
Net income
 
 
 
 
$
195.8

Other comprehensive loss:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(21.7
)
 
$
(0.5
)
 
(22.2
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(21.7
)
 
(0.5
)
 
(22.2
)
Unrealized loss on cash flow hedges:
 
 
 
 
 
Net derivative losses
(7.2
)
 
2.2

 
(5.0
)
Reclassification adjustments
(1.5
)
 
0.2

 
(1.3
)
Net loss recognized in other comprehensive loss
(8.7
)
 
2.4

 
(6.3
)
Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(0.1
)
 
—

 
(0.1
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(0.1
)
 
—

 
(0.1
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
—

 
—

 
—

Reclassification adjustments
—

 
—

 
—

Net gain recognized in other comprehensive loss
—

 
—

 
—

Other comprehensive loss
$
(30.5
)
 
$
1.9

 
(28.6
)
Total comprehensive income
 
 
 
 
$
167.2

 
 
 
 
 
 
For the Three Months Ended August 31, 2013
 
 
 
 
 
Net income
 
 
 
 
$
1,522.0

Other comprehensive (loss) income:
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Net losses
$
(44.1
)
 
$
(1.1
)
 
(45.2
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(44.1
)
 
(1.1
)
 
(45.2
)
Unrealized gain on cash flow hedges:
 
 
 
 
 
Net derivative gains
2.4

 
(1.3
)
 
1.1

Reclassification adjustments
2.1

 
(0.9
)
 
1.2

Net gain recognized in other comprehensive loss
4.5

 
(2.2
)
 
2.3

Unrealized loss on AFS debt securities:
 
 
 
 
 
Net AFS debt securities losses
(1.7
)
 
—

 
(1.7
)
Reclassification adjustments
—

 
—

 
—

Net loss recognized in other comprehensive loss
(1.7
)
 
—

 
(1.7
)
Pension/postretirement adjustments:
 
 
 
 
 
Net actuarial gains
0.4

 
(0.1
)
 
0.3

Reclassification adjustments
0.3

 
—

 
0.3

Net gain recognized in other comprehensive loss
0.7

 
(0.1
)
 
0.6

Other comprehensive loss
$
(40.6
)
 
$
(3.4
)
 
(44.0
)
Total comprehensive income
 
 
 
 
$
1,478.0



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

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

Other comprehensive income:
 
 
 
 
 
 
 
 
 
Other comprehensive income before reclassification adjustments
14.6

 
4.8

 
0.1

 
—

 
19.5

Amounts reclassified from accumulated other comprehensive income
—

 
(0.7
)
 
—

 
—

 
(0.7
)
Other comprehensive income
14.6

 
4.1

 
0.1

 
—

 
18.8

Balance, August 31, 2014
$
118.2

 
$
(4.8
)
 
$
(1.4
)
 
$
(7.2
)
 
$
104.8