Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

May 31, 2022

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 May 31, 2021	$	2	$	(435)	$	115	$	(62)	$	(380)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	(522)		1,222		—		28		728
Reclassifications to net income of previously deferred (gains) losses(3)	—		(8)		—		(22)		(30)
Total other comprehensive income (loss)	(522)		1,214		—		6		698
Balance at May 31, 2022	$	(520)	$	779	$	115	$	(56)	$	318

(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, $(114) million, $0 million, $(9) million and $(123) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $11 million, $0 million, $9 million and $20 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)	499		(788)		—		(8)		(297)
Reclassifications to net income of previously deferred (gains) losses(3)	(3)		(37)		—		13		(27)
Total other comprehensive income (loss)	496		(825)		—		5		(324)
Balance at May 31, 2021	$	2	$	(435)	$	115	$	(62)	$	(380)

(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, $(6) million, $0 million, $(1) million and $(7) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $8 million, $0 million, $0 million and $8 million, respectively.

Reclassification Out of Accumulated Other Comprehensive Income

The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the 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
	YEAR ENDED MAY 31,
(Dollars in millions)	2022		2021
Gains (losses) on foreign currency translation adjustment	$	—	$	3	Other (income) expense, net
Total before tax			3
Tax (expense) benefit	—		—
Gain (loss) net of tax	—		3
Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	$	(82)	45		Revenues
Foreign exchange forwards and options	(23)		51		Cost of sales
Foreign exchange forwards and options	1		3		Demand creation expense
Foreign exchange forwards and options	130		(47)		Other (income) expense, net
Interest rate swaps	(7)		(7)		Interest expense (income), net
Total before tax	19		45
Tax (expense) benefit	(11)		(8)
Gain (loss) net of tax	8		37
Gains (losses) on other	31		(13)		Other (income) expense, net
Total before tax	31		(13)
Tax (expense) benefit	(9)		—
Gain (loss) net of tax	22		(13)
Total net gain (loss) reclassified for the period	$	30	$	27