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Leases (Tables) | 12 Months Ended
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May 31, 2021
Leases [Abstract] |
Lessee, Operating Lease, Liability, Maturity | The undiscounted cash flows for future maturities of the Company’s operating lease liabilities and the reconciliation to the Operating lease liabilities recognized in the Company’s Consolidated Balance Sheets are as follows:
(Dollars in millions) | AS OF MAY 31, 2021(1)
Fiscal 2022 | $ | 534 |
Fiscal 2023 | 530 |
Fiscal 2024 | 490 |
Fiscal 2025 | 437 |
Fiscal 2026 | 357 |
Thereafter | 1,397 |
Total undiscounted future cash flows related to lease payments | $ | 3,745 |
Less: Interest | 347 |
Present value of lease liabilities | $ | 3,398 |
(1)Excludes $78 million as of May 31, 2021, of future operating lease payments for lease agreements signed but not yet commenced.
Lease Term and Discount Rate | The following table includes supplemental information used to calculate the present value of Operating lease liabilities:
| AS OF MAY 31,
| 2021 | 2020
Weighted-average remaining lease term (in years) | 8.3 | 8.7
Weighted-average discount rate | 2.3 | % | 2.4 | %
Lease, Cost | The following table includes supplemental cash and non-cash information related to operating leases:
| YEAR ENDED MAY 31,
(Dollars in millions) | 2021 |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases | $ | 583 |  |  | $ | 532 |  |
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ | 489 |  |  | $ | 705 |  | (1)
(1)Excludes the amount initially capitalized in conjunction with the adoption of Topic 842.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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