Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2024

Stock Based Compensation Tables [Abstract]

Stock-based compensation expense

Our total stock-based compensation expense for the years ended May 31 was as follows (in millions):

	2024		2023		2022
Stock-based compensation expense	$	163	$	182	$	190

Schedule of Stock Based Compensation Key Assumptions for Valuation

The following table includes the weighted-average Black-Scholes value per share of our stock option grants, the intrinsic value of options exercised (in millions), and the key weighted-average assumptions used in the valuation calculations for options granted during the years ended May 31, followed by a discussion of our methodology for developing each of the assumptions used in the valuation model:

	2024			2023			2022
Weighted-average Black-Scholes value per share	$	79.48		$	63.44		$	80.21
Intrinsic value of options exercised	$	290		$	160		$	150
Black-Scholes assumptions:
Expected lives	6.4 years			6.4 years			6.4 years
Expected volatility		35	%		34	%		32	%
Risk-free interest rate		3.94	%		1.68	%		0.65	%
Dividend yield		2.030	%		1.694	%		0.983	%

Schedule of Stock Option Activity

The following table summarizes information regarding stock option activity for the year ended May 31, 2024:

	Stock Options
	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in millions)(1)
Outstanding at June 1, 2023		15,191,189		$	199.89
Granted		1,837,624		$	234.69
Exercised		(2,927,083	)	$	167.76
Forfeited		(643,740	)	$	225.82
Outstanding at May 31, 2024		13,457,990		$	210.35		5.9	$	665
Exercisable		9,110,750		$	204.61		4.8	$	508
Expected to vest		3,930,202		$	222.43		8.1	$	143
Available for future grants		11,967,683

(1)Only presented for options with market value at May 31, 2024 in excess of the exercise price of the option.

Schedule of Vested and Unvested Restricted Stock and RSUs

The following table summarizes information regarding vested and unvested restricted stock and RSUs for the year ended May 31, 2024:

	Restricted Stock and RSUs
	Shares/Units			Weighted- Average Grant Date Fair Value
Unvested at June 1, 2023		379,934		$	199.91
Granted		169,371		$	239.33
Vested		(187,241	)	$	192.34
Forfeited		(12,092	)	$	215.85
Unvested at May 31, 2024		349,972		$	226.11
Available for future grants		751,017

Schedule of Stock Option Vesting

Stock option vesting during the years ended May 31 was as follows:

	Stock Options
	Vested during the year		Fair value (in millions)
2024		2,599,042	$	137
2023		2,711,215	$	137
2022		3,005,727	$	138