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Risk Management and Derivatives (Tables)
 3 Months Ended
Aug. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2021
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$247 $178 $69 $127 $127 $— 
Embedded derivatives— — — 4 4 — 
TOTAL$247 $178 $69 $131 $131 $— 
(1)If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $116 million as of August 31, 2021. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments.
MAY 31, 2021
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$92 $76 $16 $456 $415 $41 
Embedded derivatives— — — 1 1 — 
TOTAL$92 $76 $16 $457 $416 $41 
(1)If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $93 million as of May 31, 2021. As of that date, the Company had posted $39 million of cash collateral to various counterparties related to foreign exchange derivative instruments. No amount of collateral was received on the Company's derivative asset balance as of May 31, 2021.
The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:
 DERIVATIVE ASSETS
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20212021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets$151 $42 
Foreign exchange forwards and optionsDeferred income taxes and other assets69 16 
Total derivatives formally designated as hedging instruments220 58 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets27 34 
Embedded derivativesPrepaid expenses and other current assets— — 
Total derivatives not designated as hedging instruments27 34 
TOTAL DERIVATIVE ASSETS$247 $92 
DERIVATIVE LIABILITIES
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20212021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities$106 $385 
Foreign exchange forwards and optionsDeferred income taxes and other liabilities— 41 
Total derivatives formally designated as hedging instruments106 426 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities21 30 
Embedded derivativesAccrued liabilities4 1 
Total derivatives not designated as hedging instruments25 31 
TOTAL DERIVATIVE LIABILITIES$131 $457 
Schedule of Derivative Instruments, Gain (Loss) In Statement of Income
The following table presents the amounts in the Unaudited Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items:
THREE MONTHS ENDED AUGUST 31,
20212020
(Dollars in millions)
TOTALAMOUNT OF GAIN (LOSS)
ON CASH FLOW
HEDGE ACTIVITY		TOTALAMOUNT OF GAIN (LOSS)
ON CASH FLOW
HEDGE ACTIVITY
Revenues$12,248 $(21)$10,594 $14 
Cost of sales6,552 (66)5,853 114 
Demand creation expense918 1 677 1 
Other (income) expense, net(39)(9)(14)8 
Interest expense (income), net57 (2)65 (2)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income:

(Dollars in millions)
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES(1)
AMOUNT OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE
INCOME (LOSS) INTO INCOME(1)
THREE MONTHS ENDED AUGUST 31,LOCATION OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE INCOME
(LOSS) INTO INCOME		THREE MONTHS ENDED AUGUST 31,
2021202020212020
Derivatives designated as
cash flow hedges:
Foreign exchange forwards
and options
$(6)$— Revenues$(21)$14 
Foreign exchange forwards
and options
265 (371)Cost of sales(66)114 
Foreign exchange forwards
and options
(1)1 Demand creation expense1 1 
Foreign exchange forwards
and options
130 (160)Other (income) expense, net(9)8 
Interest rate swaps(2)
— — Interest expense (income), net(2)(2)
TOTAL DESIGNATED CASH FLOW HEDGES $388 $(530)$(97)$135 
(1)For the three months ended August 31, 2021 and 2020, the amounts recorded in Other (income) expense, net as a result of the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial.
(2)Gains and losses associated with terminated interest rate swaps, which were previously designated as cash flow hedges and recorded in Accumulated other comprehensive income (loss), will be released through Interest expense (income), net over the term of the issued debt.
AMOUNT OF GAIN (LOSS) RECOGNIZED
IN INCOME ON DERIVATIVES		LOCATION OF GAIN (LOSS)
RECOGNIZED IN INCOME
ON DERIVATIVES
THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20212020
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options$23 $(38)Other (income) expense, net
Embedded derivatives(5)(4)Other (income) expense, net