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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2021
May 31, 2020
May 31, 2019
Cash provided (used) by operations:      
Net income $ 5,727 $ 2,539 $ 4,029
Adjustments to reconcile net income to net cash provided (used) by operations:      
Depreciation 744 721 705
Deferred income taxes (385) (380) 34
Stock-based compensation 611 429 325
Amortization, impairment and other 53 398 15
Net foreign currency adjustments (138) 23 233
Changes in certain working capital components and other assets and liabilities:      
(Increase) decrease in accounts receivable (1,606) 1,239 (270)
(Increase) decrease in inventories 507 (1,854) (490)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets (182) (654) (203)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities 1,326 24 1,525
Cash provided (used) by operations 6,657 2,485 5,903
Cash provided (used) by investing activities:      
Purchases of short-term investments (9,961) (2,426) (2,937)
Maturities of short-term investments 4,236 74 1,715
Sales of short-term investments 2,449 2,379 2,072
Additions to property, plant and equipment (695) (1,086) (1,119)
Other investing activities 171 31 5
Cash provided (used) by investing activities (3,800) (1,028) (264)
Cash provided (used) by financing activities:      
Proceeds from borrowings, net of debt issuance costs 0 6,134 0
Increase (decrease) in notes payable, net (52) 49 (325)
Repayment of borrowings (197) (6) (6)
Proceeds from exercise of stock options and other stock issuances 1,172 885 700
Repurchase of common stock (608) (3,067) (4,286)
Dividends — common and preferred (1,638) (1,452) (1,332)
Other financing activities (136) (52) (44)
Cash provided (used) by financing activities (1,459) 2,491 (5,293)
Effect of exchange rate changes on cash and equivalents 143 (66) (129)
Net increase (decrease) in cash and equivalents 1,541 3,882 217
Cash and equivalents, beginning of year 8,348 4,466 4,249
CASH AND EQUIVALENTS, END OF YEAR 9,889 8,348 4,466
Cash paid during the year for:      
Interest, net of capitalized interest 293 140 153
Income taxes 1,177 1,028 757
Non-cash additions to property, plant and equipment 179 121 160
Dividends declared and not paid $ 438 $ 385 $ 347