Risk Management and Derivatives (Tables)

12 Months Ended

May 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair values of derivative instruments included within the consolidated balance sheets as of May 31, 2013 and 2012:

	Asset Derivatives					Liability Derivatives
(In millions)	Balance Sheet Location	2013		2012		Balance Sheet  Location	2013		2012
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	141	$	203	Accrued liabilities	$	12	$	35
Foreign exchange forwards and options	Deferred income taxes and other long-term assets	79		7		Deferred income taxes and other long-term liabilities	—		—
Interest rate swap contracts	Deferred income taxes and other long-term assets	11		15		Deferred income taxes and other long-term liabilities	—		—
Total derivatives formally designated as hedging instruments		$	231	$	225		$	12	$	35
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	58	$	55	Accrued liabilities	$	22	$	20
Embedded derivatives	Prepaid expenses and other current assets	—		1		Accrued liabilities	—		—
Total derivatives not designated as hedging instruments		58		56			22		20
TOTAL DERIVATIVES		$	289	$	281		$	34	$	55

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables present the amounts affecting the consolidated statements of income for years ended May 31, 2013, 2012 and 2011:

(In millions)	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives(1)									Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income(1)
	Year Ended May 31,									Location of Gain (Loss) Reclassified From  Accumulated Other Comprehensive Income Into Income(1)	Year Ended May 31,
	2013			2012			2011				2013			2012			2011
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	42		$	(29	)	$	(87	)	Revenue	$	(19	)	$	5		$	(30	)
Foreign exchange forwards and options	67			253			(152		)	Cost of sales	113			(57		)	103
Foreign exchange forwards and options	(3		)	3			(4		)	Selling and administrative expense	2			(2		)	1
Foreign exchange forwards and options	33			36			(65		)	Other (income) expense, net	9			(9		)	34
Total designated cash flow hedges	$	139		$	263		$	(308	)		$	105		$	(63	)	$	108
Derivatives designated as net investment hedges:
Foreign exchange forwards and options	$	—		$	45		$	(85	)	Other (income) expense, net	$	—		$	—		$	—

(1) For the years ended May 31, 2013, 2012, and 2011, the amounts recorded in other (income) expense, net as a result of hedge ineffectiveness and the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial.

	Amount of Gain (Loss) Recognized in Income on Derivatives								Location of Gain (Loss)  Recognized in Income on Derivatives
	Year Ended May 31,
(In millions)	2013			2012		2011
Derivatives designated as fair value hedges:
Interest rate swaps(1)	$	5		$	6	$	6		Interest (income) expense, net
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	51			64		(30		)	Other (income) expense, net
Embedded derivatives	$	(4	)	$	1	$	—		Other (income) expense, net

(1) All interest rate swap agreements meet the shortcut method requirements under the accounting standards for derivatives and hedging. Accordingly, changes in the fair values of the interest rate swap agreements are considered to exactly offset changes in the fair value of the underlying long-term debt. Refer to “Fair Value Hedges” in this note for additional detail.