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Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Feb. 29, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
NOTE 10 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The changes in Accumulated other comprehensive income (loss), net of tax, were as follows:
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)

CASH FLOW HEDGES

NET INVESTMENT HEDGES(1)

OTHER

TOTAL

Balance at November 30, 2019
$
(407
)
$
401

$
115

$
(57
)
$
52

Other comprehensive income (loss):
 
 
 
 
 
Other comprehensive gains (losses) before reclassifications(2)
(43
)
63

—

1

21

Reclassifications to net income of previously deferred (gains) losses(3)
1

(131
)
—

—

(130
)
Total other comprehensive income (loss)
(42
)
(68
)
—

1

(109
)
Balance at February 29, 2020
$
(449
)
$
333

$
115

$
(56
)
$
(57
)
(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 (expense) of $0 million, $(1) million, $0 million, $0 million and $(1) million, respectively.
(3)
Net of tax expense of $0 million, $0 million, $0 million, $0 million and $0 million, respectively.
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)

CASH FLOW HEDGES

NET INVESTMENT HEDGES(1)

OTHER

TOTAL

Balance at May 31, 2019
$
(346
)
$
520

$
115

$
(58
)
$
231

Other comprehensive income (loss):
 
 
 
 
 
Other comprehensive gains (losses) before reclassifications(2)
(104
)
200

—

2

98

Reclassifications to net income of previously deferred (gains) losses(3)
1

(387
)
—

—

(386
)
Total other comprehensive income (loss)
(103
)
(187
)
—

2

(288
)
Balance at February 29, 2020
$
(449
)
$
333

$
115

$
(56
)
$
(57
)
(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 (expense) of $0 million, $(8) million, $0 million, $0 million and $(8) million, respectively.
(3)
Net of tax expense of $0 million, $1 million, $0 million, $0 million and $1 million, respectively.
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)

CASH FLOW HEDGES

NET INVESTMENT HEDGES(1)

OTHER

TOTAL

Balance at November 30, 2018
$
(303
)
$
451

$
115

$
(54
)
$
209

Other comprehensive income (loss):
 
 
 
 
 
Other comprehensive gains (losses) before reclassifications(2)
79

(43
)
—

(3
)
33

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

(48
)
—

3

(45
)
Total other comprehensive income (loss)
79

(91
)
—

—

(12
)
Balance at February 28, 2019
$
(224
)
$
360

$
115

$
(54
)
$
197

(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 (expense) of $0 million, $(1) million, $0 million, $0 million and $(1) million, respectively.
(3)
Net of tax expense of $0 million, $3 million, $0 million, $0 million and $3 million, respectively.
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)

CASH FLOW HEDGES

NET INVESTMENT HEDGES(1)

OTHER

TOTAL

Balance at May 31, 2018
$
(173
)
$
17

$
115

$
(51
)
$
(92
)
Other comprehensive income (loss):
 
 
 
 
 
Other comprehensive gains (losses) before reclassifications(2)
(51
)
351

—

5

305

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

(8
)
—

(8
)
(16
)
Total other comprehensive income (loss)
(51
)
343

—

(3
)
289

Balance at February 28, 2019
$
(224
)
$
360

$
115

$
(54
)
$
197

(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 (expense) of $0 million, $(5) million, $0 million, $0 million and $(5) million, respectively.
(3)
Net of tax expense of $0 million, $5 million, $0 million, $0 million and $5 million, respectively.
The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income:
 
AMOUNT OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE INCOME
(LOSS) INTO INCOME
LOCATION OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE INCOME
(LOSS) INTO INCOME
 
THREE MONTHS ENDED
 
NINE MONTHS ENDED
(Dollars in millions)
FEBRUARY 29, 2020
FEBRUARY 28, 2019
 
FEBRUARY 29, 2020
FEBRUARY 28, 2019
Gains (losses) on foreign currency translation adjustment
$
(1
)
$
—

 
$
(1
)
$
—

Other expense (income), net
Total before tax
(1
)
—

 
(1
)
—

 
Tax (expense) benefit
—

—

 
—

—

 
Gain (loss) net of tax
(1
)
—

 
(1
)
—

 
Gains (losses) on cash flow hedges:




 




 
Foreign exchange forwards and options
(21
)
1

 
(12
)
9

Revenues
Foreign exchange forwards and options
110

34

 
287

—

Cost of sales
Foreign exchange forwards and options
—

—

 
(3
)
—

Demand creation expense
Foreign exchange forwards and options
44

18

 
121

9

Other (income) expense, net
Interest rate swaps
(2
)
(2
)
 
(5
)
(5
)
Interest expense (income), net
Total before tax
131

51

 
388

13

 
Tax (expense)
—

(3
)
 
(1
)
(5
)
 
Gain (loss) net of tax
131

48

 
387

8

 
Gains (losses) on other
—

(3
)
 
—

8

Other (income) expense, net
Total before tax
—

(3
)
 
—

8

 
Tax (expense)
—

—

 
—

—

 
Gain (loss) net of tax
—

(3
)
 
—

8

 
Total net gain (loss) reclassified for the period
$
130

$
45

 
$
386

$
16