STOCKHOLDERS' EQUITY

12 Months Ended

May 31, 2012

Stockholders' Equity [Abstract]

STOCKHOLDERS' EQUITY

13. STOCKHOLDERS’ EQUITY

Stock Repurchases

Our Board of Directors has approved a program for us to repurchase shares of our common stock. On December 20, 2011, we announced that our Board of Directors approved an expansion of our stock repurchase program by an additional $5.0 billion. On June 18, 2012, we announced that our Board of Directors approved a further expansion by an additional $10.0 billion. As of May 31, 2012, approximately $3.1 billion remained available for stock repurchases under the stock repurchase program prior to the June 2012 additional amount authorized. We repurchased 207.3 million shares for $6.0 billion (including 5.2 million shares for $136 million that were repurchased but not settled), 40.4 million shares for $1.2 billion and 43.3 million shares for $1.0 billion in fiscal 2012, 2011 and 2010, respectively, under the stock repurchase program.

Our stock repurchase authorization does not have an expiration date and the pace of our repurchase activity will depend on factors such as our working capital needs, our cash requirements for acquisitions and dividend payments, our debt repayment obligations or repurchase of our debt, our stock price and economic and market conditions. Our stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.

Dividends on Common Stock

During fiscal 2012, 2011 and 2010, our Board of Directors declared cash dividends of $0.24, $0.21, and $0.20 per share of our outstanding common stock, respectively, which we paid during the same period.

In June 2012, our Board of Directors declared a quarterly cash dividend of $0.06 per share of our outstanding common stock payable on August 3, 2012 to stockholders of record as of the close of business on July 13, 2012. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our Board of Directors.

Accumulated Other Comprehensive Income

The following table summarizes, as of each balance sheet date, the components of our accumulated other comprehensive income, net of income taxes:

	May 31,
(in millions)	2012		2011
Foreign currency translation gains, net	$	251	$	649
Unrealized losses on derivative financial instruments, net		(131)		(131)
Unrealized gains on marketable securities, net		100		30
Unrealized losses on defined benefit plans, net		(108)		(6)
Total accumulated other comprehensive income	$	112	$	542