LEASES AND OTHER COMMITMENTS

6 Months Ended

Nov. 30, 2025

Leases

We have operating and finance leases that primarily relate to certain of our data centers and facilities.

The components of lease expense were as follows:


	Three Months Ended November 30,				Six Months Ended November 30,
(in millions)	2025		2024		2025		2024
Operating lease cost	$	632	$	408	$	1,207	$	770
Finance lease cost:
Amortization of ROU assets	$	75	$	—	$	134	$	—
Interest on lease liabilities		59		—		107		—
Total finance lease cost	$	134	$	—	$	241	$	—

Supplemental balance sheet information related to leases was as follows:


(in millions)	November 30, 2025		May 31, 2025
Operating leases:
Operating lease ROU assets	$	18,393	$	13,145
Operating lease liabilities:
Operating lease liabilities, current	$	2,368	$	1,914
Operating lease liabilities, non-current		16,311		11,536
Total operating lease liabilities	$	18,679	$	13,450
Finance leases:
Finance lease ROU assets	$	4,875	$	2,874
Finance lease liabilities:
Finance lease liabilities, current	$	400	$	257
Finance lease liabilities, non-current		4,576		2,677
Total finance lease liabilities	$	4,976	$	2,934

Supplemental cash flow information related to leases was as follows:


	Six Months Ended November 30,
(in millions)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$	1,220	$	755
Finance leases	$	199	$	—

As of November 30, 2025, we had $248 billion of additional lease commitments, substantially all related to data centers and cloud capacity arrangements, that are generally expected to commence between the third quarter of fiscal 2026 and fiscal 2028 and for terms of fifteen to nineteen years that were not reflected on our condensed consolidated balance sheets as of November 30, 2025.

Unconditional Obligations

In the ordinary course of business, we enter into certain unconditional purchase obligations with our suppliers. These are agreements that are enforceable and legally binding and specify terms, including: fixed or minimum quantities

to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the payment. As of November 30, 2025, our unconditional purchase and certain other obligations, which were primarily related to cloud capacity arrangements, were $10 billion. This amount excludes certain routine arrangements that are entered into in the ordinary course of business, as they are generally entered into in order to secure pricing or other negotiated terms and are difficult to quantify in a meaningful way or are for terms of less than one year.