v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
May 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of May 31, 2026 and 2025, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement.
MAY 31, 2026
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,719 $1,719 $— 
Level 1:
U.S. Treasury securities769 2 767 
Level 2:
Commercial paper and bonds690 13 677 
Money market funds5,601 5,601 — 
Time deposits228 228 — 
U.S. Agency securities20 — 20 
Total Level 26,539 5,842 697 
TOTAL$9,027 $7,563 $1,464 
MAY 31, 2025
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,221 $1,221 $— 
Level 1:
U.S. Treasury securities1,046 — 1,046 
Level 2:
Commercial paper and bonds675 45 630 
Money market funds5,902 5,902 — 
Time deposits297 295 2 
U.S. Agency securities10 1 9 
Total Level 26,884 6,243 641 
TOTAL$9,151 $7,464 $1,687 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
MAY 31, 2026
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$184 $140 $44 $333 $271 $62 
Interest rate swaps(1)
6 — 6 10 — 10 
TOTAL
$190 $140 $50 $343 $271 $72 
(1)If the foreign exchange and interest rate swap derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $175 million as of May 31, 2026. As of that date, the Company posted $119 million cash collateral to various counterparties on the derivative liability balance and no amount of collateral was received from counterparties on the derivative asset balance.
MAY 31, 2025
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$107 $85 $22 $368 $226 $142 
Interest rate swaps(1)
24 — 24 3 — 3 
TOTAL
$131 $85 $46 $371 $226 $145 
(1)If the foreign exchange and interest rate swap derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $131 million as of May 31, 2025. As of that date, the Company posted $166 million cash collateral to various counterparties on the derivative liability balance and no amount of collateral was received from counterparties on the derivative asset balance.
The following tables present the fair values of derivative instruments included within the Consolidated Balance Sheets:
 DERIVATIVE ASSETS
BALANCE SHEET LOCATIONMAY 31,
(Dollars in millions)
20262025
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets$111 $75 
Foreign exchange forwards and optionsDeferred income taxes and other assets44 22 
Interest rate swaps
Deferred income taxes and other assets
6 24 
Total derivatives formally designated as hedging instruments161 121 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options
Prepaid expenses and other current assets29 10 
Total derivatives not designated as hedging instruments29 10 
TOTAL DERIVATIVE ASSETS$190 $131 
 DERIVATIVE LIABILITIES
BALANCE SHEET LOCATIONMAY 31,
(Dollars in millions)
20262025
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities$253 $216 
Foreign exchange forwards and optionsDeferred income taxes and other liabilities62 142 
Interest rate swapsDeferred income taxes and other liabilities10 3 
Total derivatives formally designated as hedging instruments325 361 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options
Accrued liabilities18 10 
Total derivatives not designated as hedging instruments18 10 
TOTAL DERIVATIVE LIABILITIES$343 $371