DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 31, 2020

Derivative Instrument Detail [Abstract]

Fair Values of Derivative Instruments Designated as Hedges in Consolidated Balance Sheets

		Fair Value as of May 31,
(in millions)	Balance Sheet Location	2020		2019
Derivative assets:
Interest rate swap agreements designated as fair value hedges	Other non-current assets	$	29	$	5
Total derivative assets		$	29	$	5
Derivative liabilities:
Cross-currency swap agreements designated as cash flow hedges	Other current liabilities	$	251	$	—
Interest rate swap agreements designated as fair value hedges	Other current liabilities		—		5
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current liabilities		17		17
Cross-currency swap agreements designated as cash flow hedges	Other non-current liabilities		—		208
Total derivative liabilities		$	268	$	230

Effects of Fair Value Hedging Relationships on Hedged Items in Consolidated Balance Sheets

	May 31,
(in millions)	2020		2019
Notes payable, current:
Carrying amount of hedged item	$	—	$	1,994
Cumulative hedging adjustments included in the carrying amount		—		(5	)
Notes payable and other borrowings, non-current:
Carrying amounts of hedged items		3,680		3,652
Cumulative hedging adjustments included in the carrying amount		75		44

Effects of Derivative Instruments Designated as Hedges on Income

	Year Ended May 31,
	2020						2019						2018
(in millions)	Non-operating income, net			Interest expense			Non-operating income, net			Interest expense			Non-operating income, net		Interest expense
Consolidated statements of operations line amounts in which the hedge effects were recorded	$	162		$	(1,995	)	$	815		$	(2,082	)	$	1,185	$	(2,025	)
Gain (loss) on hedges recognized in income:
Interest rate swaps designated as fair value hedges:
Derivative instruments	$	—		$	29		$	—		$	31		$	—	$	(66	)
Hedged items		—			(29	)		—			(31	)		—		66
Cross-currency interest rate swaps designated as fair value hedges:
Derivative instruments		(7	)		7			(38	)		27			—		—
Hedged items		3			(7	)		38			(27	)		—		—
Cross-currency swap agreements designated as cash flow hedges:
Amount of gain (loss) reclassified from accumulated OCI or OCL		(21	)		—			(53	)		—			51		—
Total gain (loss) on hedges recognized in income	$	(25	)	$	—		$	(53	)	$	—		$	51	$	—

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

	Year Ended May 31,
(in millions)	2020			2019			2018
Cross-currency swap agreements designated as cash flow hedges	$	(43	)	$	(105	)	$	88