DEFERRED REVENUES

3 Months Ended

Aug. 31, 2022

Deferred Revenue Disclosure [Abstract]

DEFERRED REVENUES

7. DEFERRED REVENUES

Deferred revenues consisted of the following:

(in millions)	August 31, 2022		May 31, 2022
Cloud services and license support	$	9,382	$	7,406
Hardware		589		555
Services		453		360
Cloud license and on-premise license		49		36
Deferred revenues, current		10,473		8,357
Deferred revenues, non-current (in other non-current liabilities)		788		753
Total deferred revenues	$	11,261	$	9,110

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.