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Common Stock and Stock-Based Compensation (Tables) | 12 Months Ended
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May 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable:
| YEAR ENDED MAY 31,
(Dollars in millions) | 2023 | 2022 | 2021
Stock options(1) | $ | 311 |  | $ | 297 |  | $ | 323 |
ESPPs | 72 |  | 60 |  | 63 |
Restricted stock and restricted stock units(1)(2) | 372 |  | 281 |  | 225 |
TOTAL STOCK-BASED COMPENSATION EXPENSE | $ | 755 |  | $ | 638 |  | $ | 611 |
(1)Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is primarily recorded for employees meeting certain retirement eligibility requirements and was $64 million, $57 million and $67 million for the fiscal years ended May 31, 2023, 2022 and 2021, respectively. During fiscal 2021, an immaterial amount of accelerated stock option and restricted stock unit expense was also recorded for certain employees impacted by the Company's organizational realignment. For more information, see Note 19 — Restructuring. (2)For the fiscal years ended May 31, 2023 and 2022, expense for restricted stock units includes an immaterial amount of expense for PSUs.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The weighted average assumptions used to estimate these fair values were as follows:
| YEAR ENDED MAY 31,
| 2023 | 2022 | 2021
Dividend yield | 0.9 | % | 0.8 | % | 0.9 | %
Expected volatility | 27.1 | % | 24.9 | % | 27.3 | %
Weighted average expected life (in years) | 5.8 | 5.8 | 6.0
Risk-free interest rate | 3.3 | % | 0.9 | % | 0.4 | %
Schedule of Share-based Compensation, Stock Options, Activity | The following summarizes the stock option transactions under the plan discussed above:
| SHARES(1) | WEIGHTED AVERAGE OPTION PRICE
| (In millions) |
Options outstanding as of May 31, 2022 | 68.0 |  | $ | 88.66 |
Exercised | (7.5) |  | 57.11 |
Forfeited | (1.5) |  | 122.93 |
Granted | 12.0 |  | 107.44 |
Options outstanding as of May 31, 2023 | 71.0 |  | $ | 94.40 |
(1)Includes stock appreciation rights transactions.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following summarizes the restricted stock and restricted stock units transactions under the plan discussed above:
|  | SHARES(1) | WEIGHTED AVERAGE GRANT DATE FAIR VALUE
|  | (In millions) |
Nonvested as of May 31, 2022 |  | 6.7 |  | $ | 130.88
Vested |  | (2.2) |  | 114.85
Forfeited |  | (0.7) |  | 131.10
Granted |  | 4.5 |  | 115.56
Nonvested as of May 31, 2023 |  | 8.3 |  | $ | 126.97
(1) Includes an immaterial amount of PSU transactions

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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