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Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Feb. 28, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of Accumulated Other Comprehensive Income | The changes in Accumulated other comprehensive income (loss), net of tax, were as follows:
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL
Balance at November 30, 2020 | $ | (98) |  | $ | (371) |  | $ | 115 |  | $ | (75) |  | $ | (429) |
Other comprehensive income (loss): |  |  |  |  |
Other comprehensive gains (losses) before reclassifications(2) | 99 |  | (163) |  | — |  | (6) |  | (70) |
Reclassifications to net income of previously deferred (gains) losses(3) | (1) |  | 46 |  | — |  | 8 |  | 53 |
Total other comprehensive income (loss) | 98 |  | (117) |  | — |  | 2 |  | (17) |
Balance at February 28, 2021 | $ | — |  | $ | (488) |  | $ | 115 |  | $ | (73) |  | $ | (446) |
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2)Net of tax benefit (expense) of $0 million, $(3) million, $0 million, $1 million, and $(2) million, respectively. (3)Net of tax (benefit) expense of $0 million, $0 million, $0 million, $0 million and $0 million, respectively.
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL
Balance at November 30, 2019 | $ | (407) |  | $ | 401 |  | $ | 115 |  | $ | (57) |  | $ | 52 |
Other comprehensive income (loss): |  |  |  |  |
Other comprehensive gains (losses) before reclassifications(2) | (43) |  | 63 |  | — |  | 1 |  | 21 |
Reclassifications to net income of previously deferred (gains) losses(3) | 1 |  | (131) |  | — |  | — |  | (130) |
Total other comprehensive income (loss) | (42) |  | (68) |  | — |  | 1 |  | (109) |
Balance at February 29, 2020 | $ | (449) |  | $ | 333 |  | $ | 115 |  | $ | (56) |  | $ | (57) |
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2)Net of tax benefit (expense) of $0 million, $(1) million, $0 million, $0 million and $(1) million, respectively. (3)Net of tax (benefit) expense of $0 million, $0 million, $0 million, $0 million and $0 million, respectively.
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL
Balance at May 31, 2020 | $ | (494) |  | $ | 390 |  | $ | 115 |  | $ | (67) |  | $ | (56) |
Other comprehensive income (loss): |  |  |  |  |
Other comprehensive gains (losses) before reclassifications(2) | 496 |  | (753) |  | — |  | (21) |  | (278) |
Reclassifications to net income of previously deferred (gains) losses(3) | (2) |  | (125) |  | — |  | 15 |  | (112) |
Total other comprehensive income (loss) | 494 |  | (878) |  | — |  | (6) |  | (390) |
Balance at February 28, 2021 | $ | — |  | $ | (488) |  | $ | 115 |  | $ | (73) |  | $ | (446) |
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2)Net of tax benefit (expense) of $0 million, $(3) million, $0 million, $2 million and $(1) million, respectively. (3)Net of tax (benefit) expense of $0 million, $7 million, $0 million, $0 million and $7 million, respectively.
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL
Balance at May 31, 2019 | $ | (346) |  | $ | 520 |  | $ | 115 |  | $ | (58) |  | $ | 231 |
Other comprehensive income (loss): |  |  |  |  |
Other comprehensive gains (losses) before reclassifications(2) | (104) |  | 200 |  | — |  | 2 |  | 98 |
Reclassifications to net income of previously deferred (gains) losses(3) | 1 |  | (387) |  | — |  | — |  | (386) |
Total other comprehensive income (loss) | (103) |  | (187) |  | — |  | 2 |  | (288) |
Balance at February 29, 2020 | $ | (449) |  | $ | 333 |  | $ | 115 |  | $ | (56) |  | $ | (57) |
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2)Net of tax benefit (expense) of $0 million, $(1) million, $0 million, $0 million and (1) million respectively. (3)Net of tax (benefit) expense of $0 million, $0 million, $0 million, $0 million and 0 million respectively.
Reclassification out of Accumulated Other Comprehensive Income | The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income:
| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME | LOCATION OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
| THREE MONTHS ENDED |  | NINE MONTHS ENDED
(Dollars in millions) | FEBRUARY 28, 2021 | FEBRUARY 29, 2020 |  | FEBRUARY 28, 2021 | FEBRUARY 29, 2020
Gains (losses) on foreign currency translation adjustment | $ | 1 |  | $ | (1) |  |  | $ | 2 |  | $ | (1) |  | Other expense (income), net
Total before tax | 1 |  | (1) |  |  | 2 |  | (1) |  |
Tax (expense) benefit | — |  | — |  |  | — |  | — |  |
Gain (loss) net of tax | 1 |  | (1) |  |  | 2 |  | (1) |  |
Gains (losses) on cash flow hedges: |  |  |  |  |  |
Foreign exchange forwards and options | $ | 16 |  | $ | (21) |  |  | $ | 56 |  | $ | (12) |  | Revenues
Foreign exchange forwards and options | (35) |  | 110 |  |  | 110 |  | 287 |  | Cost of sales
Foreign exchange forwards and options | 1 |  | — |  |  | 2 |  | (3) |  | Demand creation expense
Foreign exchange forwards and options | (26) |  | 44 |  |  | (31) |  | 121 |  | Other (income) expense, net
Interest rate swaps | (2) |  | (2) |  |  | (5) |  | (5) |  | Interest expense (income), net
Total before tax | (46) |  | 131 |  |  | 132 |  | 388 |  |
Tax (expense) | — |  | — |  |  | (7) |  | (1) |  |
Gain (loss) net of tax | (46) |  | 131 |  |  | 125 |  | 387 |  |
Gains (losses) on other | (8) |  | — |  |  | (15) |  | — |  | Other (income) expense, net
Total before tax | (8) |  | — |  |  | (15) |  | — |  |
Tax (expense) | — |  | — |  |  | — |  | — |  |
Gain (loss) net of tax | (8) |  | — |  |  | (15) |  | — |  |
Total net gain (loss) reclassified for the period | $ | (53) |  | $ | 130 |  |  | $ | 112 |  | $ | 386 |  |

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