DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 31, 2020

Derivative Instrument Detail [Abstract]

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

		Fair Value as of
(in millions)	Balance Sheet Location	August 31, 2020		May 31, 2020
Derivative assets:
Interest rate swap agreements designated as fair value hedges	Other current assets	$	24	$	—
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current assets		55		—
Interest rate swap agreements designated as fair value hedges	Other non-current assets		—		29
Total derivative assets		$	79	$	29
Derivative liabilities:
Cross-currency swap agreements designated as cash flow hedges	Other current liabilities	$	143	$	251
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current liabilities		—		17
Total derivative liabilities		$	143	$	268

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

(in millions)	August 31, 2020		May 31, 2020
Notes payable, current:
Carrying amount of hedged item	$	1,524	$	—
Cumulative hedging adjustment included in the carrying amount	$	24	$	—
Notes payable and other borrowings, non-current:
Carrying amounts of hedged items	$	2,216	$	3,680
Cumulative hedging adjustments included in the carrying amount	$	110	$	75

Effects of Derivative Instruments Designated as Hedges on Income

	Three Months Ended August 31,
	2020						2019
(in millions)	Non-operating (expenses) income, net			Interest expense			Non-operating (expenses) income, net			Interest expense
Condensed consolidated statements of operations line amounts in which the hedge effects were recorded	$	(2	)	$	(614	)	$	99		$	(494	)
Gain (loss) on hedges recognized in income:
Interest rate swaps agreements designated as fair value hedges:
Derivative instruments	$	—		$	(5	)	$	—		$	16
Hedged items		—			5			—			(16	)
Cross-currency interest rate swaps agreements designated as fair value hedges:
Derivative instruments		72			2			(18	)		23
Hedged items		(63	)		(2	)		15			(23	)
Cross-currency swap agreements designated as cash flow hedges:
Amount of gain (loss) reclassified from accumulated OCI		103			—			(8	)		—
Total gain (loss) on hedges recognized in income	$	112		$	—		$	(11	)	$	—

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

	Three Months Ended August 31,
(in millions)	2020		2019
Cross-currency swap agreements designated as cash flow hedges	$	108	$	(32	)