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FAIR VALUE MEASUREMENTS
 3 Months Ended
Aug. 31, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 3 — FAIR VALUE MEASUREMENTS
The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities and available-for-sale debt securities.
The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2026 and May 31, 2026, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2026
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,568$1,568$—
Level 1:
U.S. Treasury securities7553752
Level 2:
Commercial paper and bonds72815713
Money market funds4,9664,966—
Time deposits351351—
Total Level 26,0455,332713
TOTAL$8,368$6,903$1,465
MAY 31, 2026
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,719$1,719$—
Level 1:
U.S. Treasury securities7692767
Level 2:
Commercial paper and bonds71013697
Money market funds5,6015,601—
Time deposits228228—
Total Level 26,5395,842697
TOTAL$9,027$7,563$1,464
As of August 31, 2026, the Company held $599 million of available-for-sale debt securities with maturity dates within one year and $866 million with maturity dates greater than one year and less than five years in Short-term investments on the Unaudited Condensed Consolidated Balance Sheets. The fair value of the Company's available-for-sale debt securities approximates their amortized cost.
Included in Interest (income) expense, net was interest income related to the Company's investment portfolio of $71 million and $83 million for the three months ended August 31, 2026 and 2025, respectively.
For information related to the Company's derivative financial instruments, refer to Note 7 — Risk Management and Derivatives. The carrying amounts of other current financial assets and other current financial liabilities approximate fair value.
FINANCIAL ASSETS AND LIABILITIES NOT RECORDED AT FAIR VALUE
The Company's Long-term debt is recorded at adjusted cost, net of unamortized premiums, discounts, debt issuance costs and interest rate swap fair value adjustments. The fair value of long-term debt is estimated based upon quoted prices for similar instruments or quoted prices for identical instruments in inactive markets (Level 2). The fair value of the Company's Long-term debt, excluding interest rate swap fair value adjustments, was approximately $6.7 billion at August 31, 2026 and $6.8 billion at May 31, 2026.