XML 28 R17.htm IDEA: XBRL DOCUMENT v3.3.1.900
Accumulated Other Comprehensive Income
 9 Months Ended
Feb. 29, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
NOTE 11 — Accumulated Other Comprehensive Income
The changes in Accumulated other comprehensive income, net of tax, for the three and nine months ended February 29, 2016 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)
 
Cash Flow Hedges
 
Net Investment Hedges(1)
 
Other
 
Total
Balance at November 30, 2015
 
$
(141
)
 
$
1,181

 
$
115

 
$
(48
)
 
$
1,107

Other comprehensive gains (losses) before reclassifications(2)
 
(113
)
 
(151
)
 
—

 
3

 
(261
)
Reclassifications to net income of previously deferred (gains) losses(3)
 
2

 
(199
)
 
—

 
(4
)
 
(201
)
Other comprehensive income (loss)
 
(111
)
 
(350
)
 
—

 
(1
)
 
(462
)
Balance at February 29, 2016
 
$
(252
)
 
$
831

 
$
115

 
$
(49
)
 
$
645

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Net of tax benefit (expense) of $0 million, $24 million, $0 million, $(1) million and $23 million, respectively.
(3)
Net of tax (benefit) expense of $0 million, $3 million, $0 million, $0 million and $3 million, respectively.
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at May 31, 2015
 
$
(31
)
 
$
1,220

 
$
115

 
$
(58
)
 
$
1,246

Other comprehensive gains (losses) before reclassifications(3)
 
(223
)
 
132

 
—

 
14

 
(77
)
Reclassifications to net income of previously deferred (gains) losses(4)
 
2

 
(521
)
 
—

 
(5
)
 
(524
)
Other comprehensive income (loss)
 
(221
)
 
(389
)
 
—

 
9

 
(601
)
Balance at February 29, 2016
 
$
(252
)
 
$
831

 
$
115

 
$
(49
)
 
$
645

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $0 million, $40 million, $0 million, $(3) million and $37 million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $4 million, $0 million, $0 million and $4 million, respectively.
The changes in Accumulated other comprehensive income, net of tax, for the three and nine months ended February 28, 2015 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at November 30, 2014
 
$
(43
)
 
$
500

 
$
115

 
$
(47
)
 
$
525

Other comprehensive gains (losses) before reclassifications(3)
 
15

 
661

 
—

 
15

 
691

Reclassifications to net income of previously deferred (gains) losses(4)
 
—

 
(92
)
 
—

 
(13
)
 
(105
)
Other comprehensive income (loss)
 
15

 
569

 
—

 
2

 
586

Balance at February 28, 2015
 
$
(28
)
 
$
1,069

 
$
115

 
$
(45
)
 
$
1,111

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning and ending balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $(3) million, $(61) million, $0 million, $(5) million and $(69) million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $7 million, $0 million, $4 million and $11 million, respectively.
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at May 31, 2014
 
$
(11
)
 
$
32

 
$
115

 
$
(51
)
 
$
85

Other comprehensive gains (losses) before reclassifications(3)
 
(17
)
 
1,131

 
—

 
29

 
1,143

Reclassifications to net income of previously deferred (gains) losses(4)
 
—

 
(94
)
 
—

 
(23
)
 
(117
)
Other comprehensive income (loss)
 
(17
)
 
1,037

 
—

 
6

 
1,026

Balance at February 28, 2015
 
$
(28
)
 
$
1,069

 
$
115

 
$
(45
)
 
$
1,111


(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning and ending balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $(3) million, $(88) million, $0 million, $(8) million and $(99) million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $0 million, $0 million, $7 million and $7 million, respectively.
The following table summarizes the reclassifications from Accumulated other comprehensive income to the Unaudited Condensed Consolidated Statements of Income:
 
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
 
 
Three Months Ended
 
Nine Months Ended
 
(In millions)
 
February 29, 2016
 
February 28, 2015
 
February 29, 2016
 
February 28, 2015
 
Gains (losses) on foreign currency translation adjustment
 
$
(2
)
 
$
—

 
$
(2
)
 
$
—

 
Other (income) expense, net
Total before tax
 
(2
)
 
—

 
(2
)
 
—

 
 
Tax (expense) benefit
 
—

 
—

 
—

 
—

 
 
Gain (loss) net of tax
 
(2
)
 
—

 
(2
)
 
—

 
 
Gains (losses) on cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Foreign exchange forwards and options
 
$
(24
)
 
$
(17
)
 
$
(99
)
 
$
(53
)
 
Revenues
Foreign exchange forwards and options
 
153

 
74

 
451

 
87

 
Cost of sales
Foreign exchange forwards and options
 
73

 
42

 
173

 
60

 
Other (income) expense, net
Total before tax
 
202

 
99

 
525

 
94

 
 
Tax (expense) benefit
 
(3
)
 
(7
)
 
(4
)
 
—

 
 
Gain (loss) net of tax
 
199

 
92

 
521

 
94

 
 
Gains (losses) on other
 
4

 
17

 
5

 
30

 
Other (income) expense, net
Total before tax
 
4

 
17

 
5

 
30

 
 
Tax (expense) benefit
 
—

 
(4
)
 
—

 
(7
)
 
 
Gain (loss) net of tax
 
4

 
13

 
5

 
23

 
 
Total net gain (loss) reclassified for the period
 
$
201

 
$
105

 
$
524

 
$
117