Risk Management and Derivatives (Tables)

3 Months Ended

Aug. 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 August 31, 2013 and May 31, 2013:

	Asset Derivatives					Liability Derivatives
(In millions)	Balance Sheet Location	August 31, 2013		May 31, 2013		Balance Sheet  Location	August 31, 2013		May 31, 2013
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	113	$	141	Accrued liabilities	$	22	$	12
Foreign exchange forwards and options	Deferred income taxes and other long-term assets	49		79		Deferred income taxes and other long-term liabilities	—		—
Interest rate swap contracts	Deferred income taxes and other long-term assets	9		11		Deferred income taxes and other long-term liabilities	—		—
Total derivatives formally designated as hedging instruments		$	171	$	231		$	22	$	12
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	38	$	58	Accrued liabilities	$	11	$	22
Embedded derivatives	Prepaid expenses and other current assets	—		—		Accrued liabilities	—		—
Total derivatives not designated as hedging instruments		$	38	$	58		$	11	$	22
TOTAL DERIVATIVES		$	209	$	289		$	33	$	34

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

The following tables present the amounts affecting the consolidated statements of income for the three month periods endedAugust 31, 2013 and 2012:

(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)
	Three Months Ended August 31,						Location of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income Into Income(1)	Three Months Ended August 31,
	2013			2012				2013		2012
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	(3	)	$	(9	)	Revenue	$	14	$	(14	)
Foreign exchange forwards and options	(24		)	(24		)	Cost of sales	16		32
Foreign exchange forwards and options	1			1			Selling and administrative expense	—		—
Foreign exchange forwards and options	(7		)	(8		)	Other expense (income), net	5		8
Total designated cash flow hedges	$	(33	)	$	(40	)		$	35	$	26
Derivatives designated as net investment hedges:
Foreign exchange forwards and options	$	—		$	—		Other expense (income), net	$	—	$	—

(1) For the three month periods endedAugust 31, 2013 and 2012, the amounts recorded in other expense (income), 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
	Three Months Ended August 31,
(In millions)	2013			2012
Derivatives designated as fair value hedges:
Interest rate swaps(1)	$	1		$	2		Interest expense (income), net
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	(15		)	(29		)	Other expense (income), net
Embedded derivatives	$	—		$	—		Other expense (income), 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.