Commitments and Contingencies

9 Months Ended

Feb. 28, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 13 — Commitments and Contingencies

At February 28, 2014, the Company had letters of credit outstanding totaling $141 million. These letters of credit were issued primarily for the purchase of inventory and guarantees of the Company’s performance under certain self-insurance and other programs.

As a result of renewals of and additions to outstanding operating leases, commitments under the Company's operating leases have increased from what was previously reported in the Company's Annual Report on Form 10-K as of May 31, 2013. Amounts of minimum future annual rental commitments under non-cancelable operating leases for the remainder of fiscal year 2014 and each of the four years ending May 31, 2015 through 2018 are $124 million, $403 million, $375 million, $344 million, and $295 million, respectively, and $1,238 million in later years.

There have been no other significant subsequent developments relating to the commitments and contingencies reported on the Company's latest Annual Report on Form 10-K.