DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 30, 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	November 30, 2020		May 31, 2020
Derivative assets:
Interest rate swap agreements designated as fair value hedges	Other current assets	$	17	$	—
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		$	72	$	29
Derivative liabilities:
Cross-currency swap agreements designated as cash flow hedges	Other current liabilities	$	137	$	251
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current liabilities		—		17
Total derivative liabilities		$	137	$	268

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

(in millions)	November 30, 2020		May 31, 2020
Notes payable, current:
Carrying amount of hedged item	$	1,517	$	—
Cumulative hedging adjustment included in the carrying amount	$	17	$	—
Notes payable and other borrowings, non-current:
Carrying amounts of hedged items	$	2,217	$	3,680
Cumulative hedging adjustments included in the carrying amount	$	111	$	75

Effects of Derivative Instruments Designated as Hedges on Income

	Three Months Ended November 30,
	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	$	(11	)	$	(600	)	$	92		$	(465	)
Gain (loss) on hedges recognized in income:
Interest rate swap agreements designated as fair value hedges:
Derivative instruments	$	—		$	(7	)	$	—		$	(4	)
Hedged items		—			7			—			4
Cross-currency interest rate swap agreements designated as fair value hedges:
Derivative instruments		(2	)		2			5			(16	)
Hedged items		1			(2	)		(3	)		16
Cross-currency swap agreements designated as cash flow hedges:
Amount of gain (loss) reclassified from accumulated OCI		12			—			(10	)		—
Total gain (loss) on hedges recognized in income	$	11		$	—		$	(8	)	$	—

	Six Months Ended November 30,
	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	$	(13	)	$	(1,214	)	$	191		$	(959	)
Gain (loss) on hedges recognized in income:
Interest rate swap agreements designated as fair value hedges:
Derivative instruments	$	—		$	(12	)	$	—		$	12
Hedged items		—			12			—			(12	)
Cross-currency interest rate swap agreements designated as fair value hedges:
Derivative instruments		70			4			(13	)		7
Hedged items		(62	)		(4	)		12			(7	)
Cross-currency swap agreements designated as cash flow hedges:
Amount of gain (loss) reclassified from accumulated OCI		115			—			(18	)		—
Total gain (loss) on hedges recognized in income	$	123		$	—		$	(19	)	$	—

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

	Three Months Ended November 30,					Six Months Ended November 30,
(in millions)	2020		2019			2020		2019
Cross-currency swap agreements designated as cash flow hedges	$	6	$	(2	)	$	114	$	(34	)