| INTANGIBLE ASSETS AND GOODWILL |
5.INTANGIBLE ASSETS AND GOODWILL The changes in intangible assets for fiscal 2025 and the net book value of intangible assets as of May 31, 2025 and 2024 were as follows:
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Intangible Assets, Gross |
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Accumulated Amortization |
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Intangible Assets, Net |
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(in millions) |
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May 31,
2024 |
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Retirements |
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May 31,
2025 |
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May 31,
2024 |
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Expense |
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Retirements |
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May 31,
2025 |
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May 31,
2024 |
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May 31,
2025 |
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Developed technology |
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$ |
4,235 |
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$ |
(92 |
) |
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$ |
4,143 |
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$ |
(2,959 |
) |
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$ |
(642 |
) |
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$ |
92 |
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$ |
(3,509 |
) |
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$ |
1,276 |
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$ |
634 |
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Cloud services and license support agreements and related relationships |
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8,460 |
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(1,312 |
) |
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7,148 |
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(5,609 |
) |
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(714 |
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1,312 |
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(5,011 |
) |
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2,851 |
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2,137 |
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Cloud license and on-premise license agreements and related relationships |
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2,563 |
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(41 |
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2,522 |
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(1,039 |
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(462 |
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41 |
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(1,460 |
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1,524 |
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1,062 |
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Other |
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3,533 |
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(710 |
) |
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2,827 |
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(2,294 |
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(489 |
) |
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710 |
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(2,073 |
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1,239 |
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754 |
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Total intangible assets, net |
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$ |
18,791 |
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$ |
(2,155 |
) |
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$ |
16,640 |
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$ |
(11,901 |
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$ |
(2,307 |
) |
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$ |
2,155 |
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$ |
(12,053 |
) |
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$ |
6,890 |
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$ |
4,587 |
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As of May 31, 2025, estimated future amortization expenses related to intangible assets were as follows (in millions):
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Fiscal 2026 |
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$ |
1,639 |
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Fiscal 2027 |
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672 |
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Fiscal 2028 |
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635 |
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Fiscal 2029 |
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561 |
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Fiscal 2030 |
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522 |
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Thereafter |
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558 |
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Total intangible assets, net |
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$ |
4,587 |
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The changes in the carrying amounts of goodwill, which is generally not deductible for tax purposes, for our operating segments for fiscal 2025 and 2024 were as follows:
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(in millions) |
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Cloud and License |
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Hardware |
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Services |
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Total Goodwill |
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Balances as of May 31, 2023 |
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$ |
57,060 |
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$ |
2,732 |
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$ |
2,469 |
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$ |
62,261 |
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Goodwill adjustments, net(1) |
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12 |
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— |
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(43 |
) |
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(31 |
) |
Balances as of May 31, 2024 |
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57,072 |
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2,732 |
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2,426 |
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62,230 |
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Goodwill adjustments, net(1) |
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(23 |
) |
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— |
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— |
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(23 |
) |
Balances as of May 31, 2025 |
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$ |
57,049 |
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$ |
2,732 |
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$ |
2,426 |
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$ |
62,207 |
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