DEFERRED REVENUES

12 Months Ended

May 31, 2021

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

9. DEFERRED REVENUES

Deferred revenues consisted of the following:

	May 31,
(in millions)	2021		2020
Cloud services and license support	$	7,728	$	6,996
Hardware		618		613
Services		399		365
Cloud license and on-premise license		30		28
Deferred revenues, current		8,775		8,002
Deferred revenues, non-current (in other non-current liabilities)		679		597
Total deferred revenues	$	9,454	$	8,599

Deferred cloud services and license support revenues and deferred hardware revenues substantially represent customer payments made in advance for cloud or support contracts that are typically billed in advance with corresponding revenues generally being recognized ratably over the contractual periods. Deferred services revenues include prepayments for our services business and revenues for these services are generally recognized as the services are performed. Deferred cloud license and on-premise license revenues typically resulted from customer payments that related to undelivered products and services or specified enhancements.