DEFERRED REVENUES

3 Months Ended

Aug. 31, 2023

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

6.DEFERRED REVENUES

Deferred revenues consisted of the following:

(in millions)	August 31,  2023		May 31,  2023
Cloud services and license support	$	9,911	$	7,983
Hardware		686		535
Services		469		400
Cloud license and on-premise license		54		52
Deferred revenues, current		11,120		8,970
Deferred revenues, non-current (in other non-current liabilities)		1,146		968
Total deferred revenues	$	12,266	$	9,938

Deferred cloud services and license support revenues and deferred hardware revenues substantially represent customer payments made in advance for cloud or support contracts that are typically billed in advance with corresponding revenues generally being recognized ratably or based upon customer usage over the respective contractual periods. Deferred services revenues include prepayments for our services business and revenues for these services are generally recognized as the services are performed. Deferred cloud license and on-premise license revenues typically resulted from customer payments that related to undelivered products and services or specified enhancements.