DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 31, 2021

Derivative Instrument Detail [Abstract]

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

		May 31,
(in millions)	Balance Sheet Location	2021		2020
Derivative assets:
Interest rate swap agreements designated as fair value hedges	Other current assets	$	3	$	—
Interest rate swap agreements designated as fair value hedges	Other non-current assets		—		29
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current assets		70		—
Total derivative assets		$	73	$	29
Derivative liabilities:
Cross-currency swap agreements designated as cash flow hedges	Other current liabilities	$	—	$	251
Cross-currency interest rate swap agreements designated as fair value hedges	Other non-current liabilities		—		17
Total derivative liabilities		$	—	$	268

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

	May 31,
(in millions)	2021		2020
Notes payable, current:
Carrying amount of hedged item	$	1,503	$	—
Cumulative hedging adjustment included in the carrying amount	$	3	$	—
Notes payable and other borrowings, non-current:
Carrying amounts of hedged items	$	2,229	$	3,680
Cumulative hedging adjustments included in the carrying amount	$	118	$	75

Effects of Derivative Instruments Designated as Hedges on Income

	Year Ended May 31,
	2021						2020						2019
(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	$	282		$	(2,496	)	$	162		$	(1,995	)	$	815		$	(2,082	)
Gain (loss) on hedges recognized in income:
Interest rate swap agreements designated as fair value hedges:
Derivative instruments	$	—		$	(26	)	$	—		$	29		$	—		$	31
Hedged items		—			26			—			(29	)		—			(31	)
Cross-currency interest rate swap agreements designated as fair value hedges:
Derivative instruments		101			(6	)		(7	)		7			(38	)		27
Hedged items		(85	)		6			3			(7	)		38			(27	)
Cross-currency swap agreements designated as cash flow hedges:
Amount of gain (loss) reclassified from accumulated OCI or OCL		137			—			(21	)		—			(53	)		—
Total gain (loss) on hedges recognized in income	$	153		$	—		$	(25	)	$	—		$	(53	)	$	—

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

	Year Ended May 31,
(in millions)	2021		2020			2019
Cross-currency swap agreements designated as cash flow hedges	$	129	$	(43	)	$	(105	)