DEFERRED REVENUES

6 Months Ended

Nov. 30, 2023

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

6.DEFERRED REVENUES

Deferred revenues consisted of the following:

(in millions)	November 30,  2023		May 31,  2023
Cloud services and license support	$	8,004	$	7,983
Hardware		512		535
Services		306		400
Cloud license and on-premise license		56		52
Deferred revenues, current		8,878		8,970
Deferred revenues, non-current (in other non-current liabilities)		1,251		968
Total deferred revenues	$	10,129	$	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.