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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
May 31, 2023
Employee Benefits And Share Based Compensation [Abstract]  
Summary of Restricted Stock Based Award Activity

 

 

Restricted Stock-Based Awards Outstanding

 

(in millions, except fair value)

 

Number of
Shares

 

 

Weighted-Average
Grant Date Fair Value

 

Balance, May 31, 2020

 

 

101

 

 

$

48.36

 

Granted

 

 

54

 

 

$

54.95

 

Vested and issued

 

 

(34

)

 

$

46.88

 

Canceled

 

 

(11

)

 

$

50.40

 

Balance, May 31, 2021

 

 

110

 

 

$

51.87

 

Granted

 

 

65

 

 

$

85.07

 

Vested and issued

 

 

(38

)

 

$

50.52

 

Canceled

 

 

(9

)

 

$

63.25

 

Balance, May 31, 2022

 

 

128

 

 

$

68.34

 

Granted

 

 

76

 

 

$

66.67

 

Assumed

 

 

5

 

 

$

69.02

 

Vested and issued

 

 

(46

)

 

$

62.97

 

Canceled

 

 

(11

)

 

$

69.25

 

Balance, May 31, 2023

 

 

152

 

 

$

69.09

 
Summary of Stock Option Activity

 

 

Options Outstanding

 

(in millions, except exercise price)

 

Shares Under
Stock Option

 

 

Weighted-Average
Exercise Price

 

Balance, May 31, 2020

 

 

176

 

 

$

38.86

 

Granted and assumed

 

 

—

 

 

$

—

 

Exercised

 

 

(52

)

 

$

32.05

 

Canceled

 

 

(17

)

 

$

51.02

 

Balance, May 31, 2021

 

 

107

 

 

$

40.14

 

Granted and assumed

 

 

—

 

 

$

—

 

Exercised

 

 

(10

)

 

$

34.34

 

Canceled

 

 

—

 

 

$

—

 

Balance, May 31, 2022

 

 

97

 

 

$

40.70

 

Granted and assumed

 

 

—

 

 

$

—

 

Exercised

 

 

(33

)

 

$

31.37

 

Canceled

 

 

—

 

 

$

—

 

Balance, May 31, 2023

 

 

64

 

 

$

45.42

 

 

 

Outstanding
Stock Options
(in millions)

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining Contract Term
(in years)

 

 

Aggregate
Intrinsic Value(1) 
(in millions)

 

Vested

 

 

34

 

 

$

40.41

 

 

 

1.87

 

 

$

2,254

 

Expected to vest(2)

 

 

15

 

 

$

51.10

 

 

 

2.29

 

 

 

837

 

Total

 

 

49

 

 

$

43.69

 

 

 

2.00

 

 

$

3,091

 

 

(1)
The aggregate intrinsic value was calculated based on the gross difference between our closing stock price on the last trading day of fiscal 2023 of $105.94 and the exercise prices for all “in-the-money” options outstanding, excluding tax effects.
(2)
The unrecognized compensation expense calculated under the fair value method for shares expected to vest (unvested shares net of expected forfeitures) as of May 31, 2023 was approximately $134 million and is expected to be recognized over a weighted-average period of 1.57 years. Approximately 15 million shares outstanding as of May 31, 2023 were not expected to vest.
Stock-Based Compensation Expense

 

 

Year Ended May 31,

 

(in millions)

 

2023

 

 

2022

 

 

2021

 

Cloud services and license support

 

$

435

 

 

$

205

 

 

$

134

 

Hardware

 

 

18

 

 

 

15

 

 

 

11

 

Services

 

 

137

 

 

 

67

 

 

 

55

 

Sales and marketing

 

 

611

 

 

 

448

 

 

 

313

 

Research and development

 

 

1,983

 

 

 

1,633

 

 

 

1,188

 

General and administrative

 

 

363

 

 

 

245

 

 

 

136

 

Total stock-based compensation

 

 

3,547

 

 

 

2,613

 

 

 

1,837

 

Estimated income tax benefit included in provision for income taxes

 

 

(802

)

 

 

(593

)

 

 

(413

)

Total stock-based compensation, net of estimated income tax benefit

 

$

2,745

 

 

$

2,020

 

 

$

1,424