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LONG-TERM DEBT (Tables)
 12 Months Ended
May 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt, net of unamortized premiums, discounts, and debt issuance costs, and swap fair value adjustments comprises the following: 
BOOK VALUE OUTSTANDING
AS OF MAY 31,
Scheduled Maturity (Dollars in millions)
ORIGINAL PRINCIPALINTEREST RATEINTEREST PAYMENTS20242023
Corporate Term Debt:(1)(2)
March 27, 20251,000 2.40 %Semi-Annually$999 $998 
November 1, 20261,000 2.38 %Semi-Annually998 997 
March 27, 20271,000 2.75 %Semi-Annually998 997 
March 27, 20301,500 2.85 %Semi-Annually1,494 1,492 
March 27, 2040(3)
1,000 3.25 %Semi-Annually966 987 
May 1, 2043(3)
500 3.63 %Semi-Annually488 496 
November 1, 2045(3)
1,000 3.88 %Semi-Annually986 986 
November 1, 2046500 3.38 %Semi-Annually492 492 
March 27, 20501,500 3.38 %Semi-Annually1,482 1,482 
Total8,903 8,927 
Less Current Portion of Long-Term Debt1,000 — 
TOTAL LONG-TERM DEBT$7,903 $8,927 
(1)These senior unsecured obligations rank equally with the Company's other unsecured and unsubordinated indebtedness.
(2)The bonds are redeemable at the Company's option at a price equal to the greater of (i) 100% of the aggregate principal amount of the notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments, plus in each case, accrued and unpaid interest. However, the bonds also feature a par call provision, which allows for the bonds to be redeemed at a price equal to 100% of the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest on or after the Par Call Date, which can range from one to six months prior to the scheduled maturity, as defined in the respective notes.
(3)The Company entered into interest rate swap agreements pursuant to which the Company receives fixed interest payments at the same rate as the term debt and pays variable interest payments based on SOFR plus a fixed spread. At May 31, 2024, the notional amount outstanding of these swaps was $1.8 billion and had interest rates payable that ranged from 4.6% to 5.1%. These swaps mature during fiscal 2034.