INTANGIBLE ASSETS AND GOODWILL

3 Months Ended

Aug. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

4.INTANGIBLE ASSETS AND GOODWILL

The changes in intangible assets for fiscal 2024 and the net book value of intangible assets as of August 31, 2023 and May 31, 2023 were as follows:

	Intangible Assets, Gross						Accumulated Amortization									Intangible Assets, Net
(in millions)	May 31,  2023		Additions & Adjustments, net		August 31,  2023		May 31,  2023			Expense			August 31,  2023			May 31,  2023		August 31,  2023
Developed technology	$	4,300	$	—	$	4,300	$	(2,407	)	$	(168	)	$	(2,575	)	$	1,893	$	1,725
Cloud services and license support agreements and related relationships		9,456		—		9,456		(5,579	)		(269	)		(5,848	)		3,877		3,608
Cloud license and on-premise license agreements and related relationships		2,688		—		2,688		(697	)		(116	)		(813	)		1,991		1,875
Other		3,582		—		3,582		(1,506	)		(210	)		(1,716	)		2,076		1,866
Total intangible assets, net	$	20,026	$	—	$	20,026	$	(10,189	)	$	(763	)	$	(10,952	)	$	9,837	$	9,074

As of August 31, 2023, estimated future amortization expenses related to intangible assets were as follows (in millions):

Remainder of fiscal 2024	$	2,231
Fiscal 2025		2,283
Fiscal 2026		1,620
Fiscal 2027		664
Fiscal 2028		635
Fiscal 2029		561
Thereafter		1,080
Total intangible assets, net	$	9,074

The changes in the carrying amounts of goodwill, net, which is generally not deductible for tax purposes, for our operating segments for the three months ended August 31, 2023 were as follows:

(in millions)	Cloud and License			Hardware		Services			Total Goodwill, net
Balances as of May 31, 2023	$	57,060		$	2,732	$	2,469		$	62,261
Goodwill adjustments, net(1)		(13	)		—		(42	)		(55	)
Balances as of August 31, 2023	$	57,047		$	2,732	$	2,427		$	62,206

(1)Amounts include any changes in goodwill balances for the period presented that resulted from foreign currency translations and certain other adjustments.