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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
May 31, 2018
Derivative Instrument Detail [Abstract]  
Fair Values of Derivative and Non-Derivative Instruments Designated as Hedges in Consolidated Balance Sheets

 

 

 

 

 

Fair Value as of May 31,

 

(in millions)

 

Balance Sheet Location

 

2018

 

 

2017

 

Interest rate swap agreements designated as fair value hedges

 

Other current liabilities

 

$

(7

)

 

$

 

Interest rate swap agreements designated as fair value hedges

 

Other non-current assets

 

$

29

 

 

$

40

 

Interest rate swap agreements designated as fair value hedges

 

Other non-current liabilities

 

$

(48

)

 

$

 

Cross-currency swap agreements designated as cash flow hedges

 

Other non-current liabilities

 

$

(103

)

 

$

(191

)

Foreign currency borrowings designated as net investment hedge

 

Notes payable, non-current

 

$

 

 

$

(980

)

 

Effects of Derivative and Non-Derivative Instruments Designated as Hedges on Income and Other Comprehensive Income (OCI) or Loss (OCL)

 

 

 

Amount of Gain (Loss) Recognized in Accumulated OCI or OCL (Effective Portion)

 

 

 

Year Ended May 31,

 

(in millions)

 

2018

 

 

2017

 

 

2016

 

Cross-currency swap agreements designated as cash flow hedges

 

$

88

 

 

$

27

 

 

$

26

 

Foreign currency borrowings designated as net investment hedge

 

$

(30

)

 

$

(1

)

 

$

(25

)

 

 

 

Amount of Gain (Loss) Reclassified from Accumulated OCI or OCL into Income (Effective Portion)

 

 

 

 

 

Year Ended May 31,

 

(in millions)

 

Location

 

2018

 

 

2017

 

 

2016

 

Cross-currency swap agreements designated as cash flow hedges

 

Non-operating income (expense), net

 

$

51

 

 

$

2

 

 

$

41

 

 

 

 

Amount of Gain (Loss) Recognized in Income on Derivative

 

 

 

 

 

Year Ended May 31,

 

(in millions)

 

Location

 

2018

 

 

2017

 

 

2016

 

Interest rate swap agreements designated as fair value hedges

 

Interest expense

 

$

(66

)

 

$

(82

)

 

$

48

 

 

 

 

Amount of Gain (Loss) on Hedged Item Recognized in Income Attributable to Risk Being Hedged

 

 

 

 

 

Year Ended May 31,

 

(in millions)

 

Location

 

2018

 

 

2017

 

 

2016

 

Interest rate swap agreements designated as fair value hedges

 

Interest expense

 

$

66

 

 

$

82

 

 

$

(48

)