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Common Stock and Stock-Based Compensation (Tables)
 12 Months Ended
May 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable: 
 
YEAR ENDED MAY 31,
(Dollars in millions)
2020
2019
2018
Stock options(1)
$
237

$
207

$
149

ESPPs
53

40

34

Restricted stock
139

78

35

TOTAL STOCK-BASED COMPENSATION EXPENSE
$
429

$
325

$
218

(1)
Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is recorded for employees meeting certain retirement eligibility requirements. Accelerated stock option expense was $53 million, $41 million and $18 million for the fiscal years ended May 31, 2020, 2019 and 2018, respectively.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The weighted average assumptions used to estimate these fair values were as follows:
 
YEAR ENDED MAY 31,
 
2020
2019
2018
Dividend yield
1.0
%
1.0
%
1.2
%
Expected volatility
23.0
%
26.6
%
16.4
%
Weighted average expected life (in years)
6.0

6.0

6.0

Risk-free interest rate
1.5
%
2.8
%
2.0
%
Schedule of Share-based Compensation, Stock Options, Activity
The following summarizes the stock option transactions under the plan discussed above: 
 
SHARES(1)

WEIGHTED AVERAGE OPTION PRICE

 
(In millions)
 
Options outstanding as of May 31, 2019
91.3

$
50.59

Exercised
(20.1
)
35.26

Forfeited
(2.2
)
75.74

Granted
19.1

85.29

Options outstanding as of May 31, 2020
88.1

$
60.98

(1)
Includes stock appreciation rights transactions.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The following summarizes the restricted stock and restricted stock unit activity under the plan discussed above: 
 
 
SHARES

WEIGHTED AVERAGE GRANT DATE
FAIR VALUE

 
 
(In millions)
 
Nonvested as of May 31, 2019
 
4.4

$
70.93

Vested
 
(1.1
)
72.64

Forfeited
 
(0.3
)
79.62

Granted
 
3.8

88.26

Nonvested as of May 31, 2020
 
6.8

$
79.84