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Comprehensive Income
3 Months Ended
Aug. 31, 2011
Comprehensive Income  
Comprehensive Income

8.             Comprehensive Income

 

Total comprehensive income represents the net change in shareholders’ equity during a period from sources other than transactions with shareholders and, as such, includes net income.  For Cintas, the only components of other comprehensive income are the change in cumulative foreign currency translation adjustments, the change in the fair value of derivatives, the amortization of interest rate lock agreements and the change in the fair value of available-for-sale securities.  The components of comprehensive income are as follows:

 

(In thousands)

 

Three Months Ended

 

 

 

 

August 31,
2011

 

August 31,
2010

 

 

 

 

 

 

 

Net income

 

$ 68,638

 

$ 61,277

 

 

 

 

 

 

 

Other comprehensive income:

 

 

 

 

 

Foreign currency translation adjustment

 

218

 

3,349

 

Change in fair value of derivatives*

 

153

 

(606)

 

Amortization of interest rate lock agreements

 

377

 

192

 

Change in fair value of available-for-sale securities**

 

18

 

27

 

 

 

 

 

 

 

Comprehensive income

 

$ 69,404

 

$ 64,239

 

 

*   Net of less than $0.1 million and ($0.4) million of tax expense (benefit) for the three months ended August 31, 2011 and 2010, respectively.

 

** Net of less than $0.1 million of tax expense for both the three months ended August 31, 2011 and 2010, respectively.