Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Nov. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income

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 August 31, 2020	$	(176)	$	(268)	$	115	$	(72)	$	(401)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	79		(64)		—		(2)		13
Reclassifications to net income of previously deferred (gains) losses(3)	(1)		(39)		—		(1)		(41)
Total other comprehensive income (loss)	78		(103)		—		(3)		(28)
Balance at November 30, 2020	$	(98)	$	(371)	$	115	$	(75)	$	(429)

(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, $(4) million, $0 million, $0 million and $(4) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $4 million, $0 million, $0 million and $4 million, respectively.

(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at August 31, 2019	$	(435)	$	556	$	115	$	(56)	$	180
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	28		(26)		—		(2)		—
Reclassifications to net income of previously deferred (gains) losses(3)	—		(129)		—		1		(128)
Total other comprehensive income (loss)	28		(155)		—		(1)		(128)
Balance at November 30, 2019	$	(407)	$	401	$	115	$	(57)	$	52

(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, $(7) million, $0 million, $0 million and $(7) million, respectively.

(3)Net of tax (benefit) 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 May 31, 2020	$	(494)	$	390	$	115	$	(67)	$	(56)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	397		(590)		—		(15)		(208)
Reclassifications to net income of previously deferred (gains) losses(3)	(1)		(171)		—		7		(165)
Total other comprehensive income (loss)	396		(761)		—		(8)		(373)
Balance at November 30, 2020	$	(98)	$	(371)	$	115	$	(75)	$	(429)

(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, $0 million, $0 million, $1 million and $1 million, respectively.

(3)Net of tax (benefit) expense of $0 million, $7 million, $0 million, $0 million and $7 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)	(61)		137		—		1		77
Reclassifications to net income of previously deferred (gains) losses(3)	—		(256)		—		—		(256)
Total other comprehensive income (loss)	(61)		(119)		—		1		(179)
Balance at November 30, 2019	$	(407)	$	401	$	115	$	(57)	$	52

(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, $(7) million, $0 million, $0 million and $(7) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $1 million, $0 million, $0 million and $1 million, respectively.

Reclassification out of Accumulated Other Comprehensive Income

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 NOVEMBER 30,				SIX MONTHS ENDED NOVEMBER 30,
(Dollars in millions)	2020		2019		2020		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	$	26	$	1	$	40	$	9	Revenues
Foreign exchange forwards and options	31		102		145		177		Cost of sales
Foreign exchange forwards and options	—		(3)		1		(3)		Demand creation expense
Foreign exchange forwards and options	(13)		31		(5)		77		Other (income) expense, net
Interest rate swaps	(1)		(1)		(3)		(3)		Interest expense (income), net
Total before tax	43		130		178		257
Tax (expense)	(4)		(1)		(7)		(1)
Gain (loss) net of tax	39		129		171		256
Gains (losses) on other	1		(1)		(7)		—		Other (income) expense, net
Total before tax	1		(1)		(7)		—
Tax (expense)	—		—		—		—
Gain (loss) net of tax	1		(1)		(7)		—
Total net gain (loss) reclassified for the period	$	41	$	128	$	165	$	256