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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2022
May 31, 2021
May 31, 2020
Cash provided (used) by operations:      
Net income $ 6,046 $ 5,727 $ 2,539
Adjustments to reconcile net income to net cash provided (used) by operations:      
Depreciation 717 744 721
Deferred income taxes (650) (385) (380)
Stock-based compensation 638 611 429
Amortization, impairment and other 123 53 398
Net foreign currency adjustments (26) (138) 23
Changes in certain working capital components and other assets and liabilities:      
(Increase) decrease in accounts receivable (504) (1,606) 1,239
(Increase) decrease in inventories (1,676) 507 (1,854)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets (845) (182) (654)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities 1,365 1,326 24
Cash provided (used) by operations 5,188 6,657 2,485
Cash provided (used) by investing activities:      
Purchases of short-term investments (12,913) (9,961) (2,426)
Maturities of short-term investments 8,199 4,236 74
Sales of short-term investments 3,967 2,449 2,379
Additions to property, plant and equipment (758) (695) (1,086)
Other investing activities (19) 171 31
Cash provided (used) by investing activities (1,524) (3,800) (1,028)
Cash provided (used) by financing activities:      
Proceeds from borrowings, net of debt issuance costs 0 0 6,134
Increase (decrease) in notes payable, net 15 (52) 49
Repayment of borrowings 0 (197) (6)
Proceeds from exercise of stock options and other stock issuances 1,151 1,172 885
Repurchase of common stock (4,014) (608) (3,067)
Dividends — common and preferred (1,837) (1,638) (1,452)
Other financing activities (151) (136) (52)
Cash provided (used) by financing activities (4,836) (1,459) 2,491
Effect of exchange rate changes on cash and equivalents (143) 143 (66)
Net increase (decrease) in cash and equivalents (1,315) 1,541 3,882
Cash and equivalents, beginning of year 9,889 8,348 4,466
CASH AND EQUIVALENTS, END OF YEAR 8,574 9,889 8,348
Cash paid during the year for:      
Interest, net of capitalized interest 290 293 140
Income taxes 1,231 1,177 1,028
Non-cash additions to property, plant and equipment 160 179 121
Dividends declared and not paid $ 480 $ 438 $ 385