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Accumulated Other Comprehensive Income
 3 Months Ended
Aug. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
Note 10 — Accumulated Other Comprehensive Income
The changes in Accumulated other comprehensive income, net of tax, for the three months ended August 31, 2017 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)
 
Cash Flow Hedges
 
Net Investment Hedges(1)
 
Other
 
Total
Balance at May 31, 2017
 
$
(191
)
 
$
(52
)
 
$
115

 
$
(85
)
 
$
(213
)
Other comprehensive gains (losses) before reclassifications(2)
 
22

 
(347
)
 
—

 
(18
)
 
(343
)
Reclassifications to net income of previously deferred (gains) losses(3)
 
—

 
(48
)
 
—

 
18

 
(30
)
Other comprehensive income (loss)
 
22

 
(395
)
 
—

 
—

 
(373
)
Balance at August 31, 2017
 
$
(169
)
 
$
(447
)
 
$
115

 
$
(85
)
 
$
(586
)
(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 $(19) million, $3 million, $0 million, $0 million and $(16) million, respectively.
(3)
Net of tax (benefit) expense of $0 million, $(1) million, $0 million, $0 million and $(1) million, respectively.
The changes in Accumulated other comprehensive income, net of tax, for the three months ended August 31, 2016 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)
 
Cash Flow Hedges
 
Net Investment Hedges(1)
 
Other
 
Total
Balance at May 31, 2016
 
$
(207
)
 
$
463

 
$
115

 
$
(53
)
 
$
318

Other comprehensive gains (losses) before reclassifications(2)
 
3

 
(60
)
 
—

 
13

 
(44
)
Reclassifications to net income of previously deferred (gains) losses(3)
 
—

 
(180
)
 
—

 
(9
)
 
(189
)
Other comprehensive income (loss)
 
3

 
(240
)
 
—

 
4

 
(233
)
Balance at August 31, 2016
 
$
(204
)
 
$
223

 
$
115

 
$
(49
)
 
$
85

(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, $46 million, $0 million, $1 million and $47 million, respectively.
(3)
Net of tax (benefit) expense of $0 million, $0 million, $0 million, $(1) million and $(1) 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 August 31,
 
(In millions)
 
2017
 
2016
 
Gains (losses) on cash flow hedges:
 
 
 
 
 
 
Foreign exchange forwards and options
 
$
2

 
$
33

 
Revenues
Foreign exchange forwards and options
 
45

 
104

 
Cost of sales
Foreign exchange forwards and options
 
2

 
43

 
Other expense (income), net
Interest rate swaps
 
(2
)
 
—

 
Interest expense (income), net
Total before tax
 
47

 
180

 
 
Tax (expense) benefit
 
1

 
—

 
 
Gain (loss) net of tax
 
48

 
180

 
 
Gains (losses) on other
 
(18
)
 
8

 
Other expense (income), net
Total before tax
 
(18
)
 
8

 
 
Tax (expense) benefit
 
—

 
1

 
 
Gain (loss) net of tax
 
(18
)
 
9

 
 
Total net gain (loss) reclassified for the period
 
$
30

 
$
189