DEFERRED REVENUES

12 Months Ended

May 31, 2022

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

9. DEFERRED REVENUES

Deferred revenues consisted of the following:

	May 31,
(in millions)	2022		2021
Cloud services and license support	$	7,406	$	7,728
Hardware		555		618
Services		360		399
Cloud license and on-premise license		36		30
Deferred revenues, current		8,357		8,775
Deferred revenues, non-current (in other non-current liabilities)		753		679
Total deferred revenues	$	9,110	$	9,454

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 or based upon customer usage over the respective 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.