ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Nov. 30, 2023

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

Schedule of Accumulated Other Comprehensive Income (Loss)

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, 2023	$	(217)	$	297	$	115	$	(59)	$	136
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	37		48		—		11		96
Reclassifications to net income of previously deferred (gains) losses(2)	2		(103)		—		(10)		(111)
Total other comprehensive income (loss)	39		(55)		—		1		(15)
Balance at November 30, 2023	$	(178)	$	242	$	115	$	(58)	$	121

(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 immaterial tax impact.

(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at August 31, 2022	$	(746)	$	1,334	$	115	$	(67)	$	636
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	45		(138)		—		(24)		(117)
Reclassifications to net income of previously deferred (gains) losses(2)	309		(263)		—		(6)		40
Total other comprehensive income (loss)	354		(401)		—		(30)		(77)
Balance at November 30, 2022	$	(392)	$	933	$	115	$	(97)	$	559

(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 immaterial tax impact.

(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at May 31, 2023	$	(253)	$	431	$	115	$	(62)	$	231
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	73		25		—		11		109
Reclassifications to net income of previously deferred (gains) losses(2)	2		(214)		—		(7)		(219)
Total other comprehensive income (loss)	75		(189)		—		4		(110)
Balance at November 30, 2023	$	(178)	$	242	$	115	$	(58)	$	121

(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 immaterial tax impact.

(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at May 31, 2022	$	(520)	$	779	$	115	$	(56)	$	318
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	(227)		578		—		(27)		324
Reclassifications to net income of previously deferred (gains) losses(2)	355		(424)		—		(14)		(83)
Total other comprehensive income (loss)	128		154		—		(41)		241
Balance at November 30, 2022	$	(392)	$	933	$	115	$	(97)	$	559

(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 immaterial tax impact.

Reclassification Out of Accumulated Other Comprehensive Income (Loss)

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)	2023		2022		2023		2022
Gains (losses) on foreign currency translation adjustment	$	(2)	$	(325)	$	(2)	$	(371)	Other (income) expense, net
Total before tax	(2)		(325)		(2)		(371)
Tax (expense) benefit	—		16		—		16
Gain (loss) net of tax	(2)		(309)		(2)		(355)
Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	2		4		3		(5)		Revenues
Foreign exchange forwards and options	65		173		151		282		Cost of sales
Foreign exchange forwards and options	—		(2)		—		(3)		Demand creation expense
Foreign exchange forwards and options	51		125		86		207		Other (income) expense, net
Interest rate swaps	(2)		(2)		(4)		(4)		Interest expense (income), net
Total before tax	116		298		236		477
Tax (expense) benefit	(13)		(35)		(22)		(53)
Gain (loss) net of tax	103		263		214		424
Gains (losses) on other	14		9		10		20		Other (income) expense, net
Total before tax	14		9		10		20
Tax (expense) benefit	(4)		(3)		(3)		(6)
Gain (loss) net of tax	10		6		7		14
Total net gain (loss) reclassified for the period	$	111	$	(40)	$	219	$	83