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Fair Value Measurements (Tables) | 12 Months Ended
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May 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities 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, 2020 and 2019 and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. Refer to Note 1 — Summary of Significant Accounting Policies for additional detail regarding the Company's fair value measurement methodology.
| MAY 31, 2020
(Dollars in millions) | ASSETS AT FAIR VALUE |  | CASH AND EQUIVALENTS |  | SHORT-TERM INVESTMENTS |
Cash | $ | 596 |  | $ | 596 |  | $ | — |
Level 1: |  |  |
U.S. Treasury securities | 1,204 |  | 800 |  | 404 |
Level 2: |  |  |
Commercial paper and bonds | 32 |  | — |  | 32 |
Money market funds | 5,973 |  | 5,973 |  | — |
Time deposits | 981 |  | 979 |  | 2 |
U.S. Agency securities | 1 |  | — |  | 1 |
Total Level 2 | 6,987 |  | 6,952 |  | 35 |
TOTAL | $ | 8,787 |  | $ | 8,348 |  | $ | 439 |
| MAY 31, 2019
(Dollars in millions) | ASSETS AT FAIR VALUE |  | CASH AND EQUIVALENTS |  | SHORT-TERM INVESTMENTS |
Cash | $ | 853 |  | $ | 853 |  | $ | — |
Level 1: |  |  |
U.S. Treasury securities | 347 |  | 200 |  | 147 |
Level 2: |  |  |
Commercial paper and bonds | 34 |  | 1 |  | 33 |
Money market funds | 1,637 |  | 1,637 |  | — |
Time deposits | 1,791 |  | 1,775 |  | 16 |
U.S. Agency securities | 1 |  | — |  | 1 |
Total Level 2 | 3,463 |  | 3,413 |  | 50 |
TOTAL | $ | 4,663 |  | $ | 4,466 |  | $ | 197 |
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 as of May 31, 2020 and 2019 and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement.
| MAY 31, 2020
| DERIVATIVE ASSETS |  | DERIVATIVE LIABILITIES
(Dollars in millions) | ASSETS AT FAIR VALUE |  | OTHER CURRENT ASSETS |  | OTHER LONG-TERM ASSETS |  |  | LIABILITIES AT FAIR VALUE |  | ACCRUED LIABILITIES |  | OTHER LONG-TERM LIABILITIES |
Level 2: |  |  |  |  |  |  |
Foreign exchange forwards and options(1) | $ | 94 |  | $ | 91 |  | $ | 3 |  |  | $ | 205 |  | $ | 188 |  | $ | 17 |
Embedded derivatives | 1 |  | 1 |  | — |  |  | 2 |  | 2 |  | — |
TOTAL | $ | 95 |  | $ | 92 |  | $ | 3 |  |  | $ | 207 |  | $ | 190 |  | $ | 17 |
(1) | If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions would have been reduced by $76 million as of May 31, 2020. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments.
| MAY 31, 2019
| DERIVATIVE ASSETS |  | DERIVATIVE LIABILITIES
(Dollars in millions) | ASSETS AT FAIR VALUE |  | OTHER CURRENT ASSETS |  | OTHER LONG-TERM ASSETS |  |  | LIABILITIES AT FAIR VALUE |  | ACCRUED LIABILITIES |  | OTHER LONG-TERM LIABILITIES |
Level 2: |  |  |  |  |  |  |
Foreign exchange forwards and options(1) | $ | 611 |  | $ | 611 |  | $ | — |  |  | $ | 51 |  | $ | 51 |  | $ | — |
Embedded derivatives | 11 |  | 5 |  | 6 |  |  | 3 |  | 1 |  | 2 |
TOTAL | $ | 622 |  | $ | 616 |  | $ | 6 |  |  | $ | 54 |  | $ | 52 |  | $ | 2 |
(1) If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $50 million as of May 31, 2019. As of that date, the Company had received $289 million of cash collateral from various counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the Company's derivative liability balance as of May 31, 2019. The following tables present the fair values of derivative instruments included within the Consolidated Balance Sheets as of May 31, 2020 and 2019:
| DERIVATIVE ASSETS
| BALANCE SHEET LOCATION | MAY 31,
(Dollars in millions) | 2020 |  | 2019
Derivatives formally designated as hedging instruments: |  |  |  |
Foreign exchange forwards and options | Prepaid expenses and other current assets | $ | 43 |  |  | $ | 509 |
Foreign exchange forwards and options | Deferred income taxes and other assets | 1 |  |  | — |
Total derivatives formally designated as hedging instruments |  | 44 |  |  | 509 |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange forwards and options | Prepaid expenses and other current assets | 48 |  |  | 102 |
Embedded derivatives | Prepaid expenses and other current assets | 1 |  |  | 5 |
Foreign exchange forwards and options | Deferred income taxes and other assets | 2 |  |  | — |
Embedded derivatives | Deferred income taxes and other assets | — |  |  | 6 |
Total derivatives not designated as hedging instruments |  | 51 |  |  | 113 |
TOTAL DERIVATIVE ASSETS |  | $ | 95 |  |  | $ | 622 |
| DERIVATIVE LIABILITIES
| BALANCE SHEET LOCATION | MAY 31,
(Dollars in millions) | 2020 |  | 2019
Derivatives formally designated as hedging instruments: |  |  |  |
Foreign exchange forwards and options | Accrued liabilities | $ | 173 |  |  | $ | 5 |
Foreign exchange forwards and options | Deferred income taxes and other liabilities | 17 |  |  | — |
Total derivatives formally designated as hedging instruments |  | 190 |  |  | 5 |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange forwards and options | Accrued liabilities | 15 |  |  | 46 |
Embedded derivatives | Accrued liabilities | 2 |  |  | 1 |
Embedded derivatives | Deferred income taxes and other liabilities | — |  |  | 2 |
Total derivatives not designated as hedging instruments |  | 17 |  |  | 49 |
TOTAL DERIVATIVE LIABILITIES |  | $ | 207 |  |  | $ | 54 |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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