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Identifiable Intangible Assets and Goodwill | 12 Months Ended
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May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Identifiable Intangible Assets and Goodwill |
NOTE 4 — IDENTIFIABLE INTANGIBLE ASSETS AND GOODWILL
Identifiable intangible assets, net consist of indefinite-lived trademarks, acquired trademarks and other intangible assets. The following table summarizes the Company's Identifiable intangible assets, net balances as of May 31, 2021 and 2020:
| MAY 31,
| 2021 |  | 2020
(Dollars in millions) | GROSS CARRYING AMOUNT | ACCUMULATED AMORTIZATION | NET CARRYING AMOUNT |  | GROSS CARRYING AMOUNT | ACCUMULATED AMORTIZATION | NET CARRYING AMOUNT
Indefinite-lived trademarks | $ | 246 |  | $ | — |  | $ | 246 |  |  | $ | 246 |  | $ | — |  | $ | 246 |
Acquired trademarks and other | 50 |  | 27 |  | 23 |  |  | 47 |  | 19 |  | 28 |
IDENTIFIABLE INTANGIBLE ASSETS, NET | $ | 296 |  | $ | 27 |  | $ | 269 |  |  | $ | 293 |  | $ | 19 |  | $ | 274 |
Goodwill was $242 million and $223 million as of May 31, 2021 and 2020, respectively, and there were no accumulated impairment losses as of May 31, 2021 and 2020. Additionally, the impact to Goodwill during fiscal 2021 and 2020 as a result of acquisitions and divestitures was not material.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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