DEFERRED REVENUES

3 Months Ended

Aug. 31, 2024

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

4.DEFERRED REVENUES

Deferred revenues consisted of the following:

(in millions)	August 31,  2024		May 31,  2024
Cloud services and license support	$	10,257	$	8,203
Hardware		660		546
Services		487		512
Cloud license and on-premise license		51		52
Deferred revenues, current		11,455		9,313
Deferred revenues, non-current (in other non-current liabilities)		1,429		1,233
Total deferred revenues	$	12,884	$	10,546

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.