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Retirement Plans (Tables) | 12 Months Ended
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May 31, 2016
Retirement Plan (Tables) [Abstract] |
Schedule of Retirement Plan Costs |
|  | 2016 |  | 2015 |  | 2014
Defined benefit pension plans | $ | 214 |  | $ | (41) |  | $ | 99
Defined contribution plans |  | 416 |  |  | 385 |  |  | 363
Postretirement healthcare plans |  | 82 |  |  | 81 |  |  | 78
Retirement plans mark-to-market adjustment |  | 1,498 |  |  | 2,190 |  |  | 15
|  | $ | 2,210 |  | $ | 2,615 |  | $ | 555
The components of the pre-tax mark-to-market losses are as follows (in millions): |  |  |
|  | 2016 |  | 2015 |  | 2014
Actual versus expected return on assets | $ | 1,285 |  | $ | (35) |  | $ | (1,013)
Discount rate changes |  | 1,129 |  |  | 791 |  |  | 705
Demographic assumption experience |  | (916) |  |  | 1,434 |  |  | 323
Total mark-to-market loss | $ | 1,498 |  | $ | 2,190 |  | $ | 15
Schedule of Weighted-Average Actuarial Assumptions for Primary U.S. Retirement Plans |
Weighted-average actuarial assumptions for our primary U.S. retirement plans, which represent substantially all of our PBO and accumulated postretirement benefit obligation ("APBO"), are as follows:
|  | Pension Plans |  | Postretirement Healthcare Plans
|  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014
Discount rate used to determine benefit obligation | 4.13 | % |  | 4.42 | % |  | 4.60 | % |  | 4.41 | % |  | 4.60 | % |  | 4.70 | %
Discount rate used to determine net periodic benefit cost | 4.42 |  |  | 4.60 |  |  | 4.79 |  |  | 4.60 |  |  | 4.70 |  |  | 4.91 |
Rate of increase in future compensation levels |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| used to determine benefit obligation | 4.46 |  |  | 4.62 |  |  | 4.56 |  |  | - |  |  | - |  |  | - |
Rate of increase in future compensation levels |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| used to determine net periodic benefit cost | 4.62 |  |  | 4.56 |  |  | 4.54 |  |  | - |  |  | - |  |  | - |
Expected long-term rate of return on assets - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Consolidated | 6.50 |  |  | 7.75 |  |  | 7.75 |  |  | - |  |  | - |  |  | - |
Expected long-term rate of return on assets - Segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Reporting | 6.50 |  |  | 6.50 |  |  | 6.50 |  |  | - |  |  | - |  |  | - |
Schedule of Plan Assets at Measurement Date |
|  | Plan Assets at Measurement Date
|  | 2016
|  |  |  |  |  | Target |  | Quoted Prices in Active Markets |  | Other Observable Inputs |  | Unobservable Inputs
Asset Class | Fair Value |  | Actual % |  | Range % |  | Level 1 |  | Level 2 |  | Level 3
Cash and cash equivalents | $ | 568 |  | 2 | % |  | 0-5 | % |  | $ | 76 |  | $ | 492 |  |  |
Equities |  |  |  |  |  |  | 35-55 |  |  |  |  |  |  |  |  |  |
| U.S. large cap equity(1) |  | 3,257 |  | 14 |  |  |  |  |  |  | 750 |  |  |  |  |  |
| International equities(1) |  | 3,381 |  | 15 |  |  |  |  |  |  | 2,685 |  |  | 121 |  |  |
| Global equities(1) |  | 2,794 |  | 12 |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. SMID cap equity |  | 913 |  | 4 |  |  |  |  |  |  | 913 |  |  |  |  |  |
Fixed income securities |  |  |  |  |  |  | 45-65 |  |  |  |  |  |  |  |  |  |
| Corporate |  | 6,608 |  | 29 |  |  |  |  |  |  |  |  |  | 6,608 |  |  |
| Government |  | 5,148 |  | 22 |  |  |  |  |  |  |  |  |  | 5,148 |  |  |
| Mortgage backed and other(1) |  | 347 |  | 2 |  |  |  |  |  |  |  |  |  | 146 |  |  |
Alternative investments(1) |  | 322 |  | 1 |  |  | 0-5 |  |  |  |  |  |  |  |  |  | 48
Other |  | (321) |  | (1) |  |  |  |  |  |  | (305) |  |  | (16) |  |  |
|  | $ | 23,017 |  | 100 | % |  |  |  |  | $ | 4,119 |  | $ | 12,499 |  | $ | 48
(1) | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total.
|  | 2015 |  |  |
|  |  |  |  |  |  |  | Target |  | Quoted Prices in Active Markets |  | Other Observable Inputs |  |
Asset Class | Fair Value |  | Actual % |  | Range % |  | Level 1 |  | Level 2 |  |
Cash and cash equivalents | $ | 738 |  | 3 | % |  | 0-5 | % |  | $ | 36 |  | $ | 702 |  |  |
Equities |  |  |  |  |  |  | 35-55 |  |  |  |  |  |  |  |  |  |
| U.S. large cap equity(1) |  | 4,291 |  | 19 |  |  |  |  |  |  | 302 |  |  |  |  |  |
| International equities(1) |  | 3,064 |  | 14 |  |  |  |  |  |  | 2,429 |  |  | 1 |  |  |
| Global equities(1) |  | 2,579 |  | 11 |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. SMID cap equity |  | 979 |  | 4 |  |  |  |  |  |  | 979 |  |  |  |  |  |
Fixed income securities |  |  |  |  |  |  | 45-65 |  |  |  |  |  |  |  |  |  |
| Corporate |  | 6,455 |  | 28 |  |  |  |  |  |  |  |  |  | 6,455 |  |  |
| Government |  | 4,645 |  | 20 |  |  |  |  |  |  |  |  |  | 4,645 |  |  |
| Mortgage backed and other(1) |  | 213 |  | 1 |  |  |  |  |  |  |  |  |  | 153 |  |  |
Alternative investments(1) |  | 226 |  | 1 |  |  | 0-5 |  |  |  |  |  |  |  |  |  |
Other |  | (184) |  | (1) |  |  |  |  |  |  | (181) |  |  | (3) |  |  |
|  | $ | 23,006 |  | 100 | % |  |  |  |  | $ | 3,565 |  | $ | 11,953 |  |  |
(1) | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total.
Schedule of Change in Fair Value of Level 3 Assets |
|  | 2016 |  |  |  |  |  |
Balance at beginning of year(1) | $ | - |  |  |  |  |  |  |
Actual return on plan assets: |  |  |  |  |  |  |  |  |
| Assets held during current year |  | 2 |  |  |  |  |  |  |
| Assets sold during the year |  | - |  |  |  |  |  |  |
Purchases, sales and settlements |  | 46 |  |  |  |  |  |  |
Balance at end of year | $ | 48 |  |  |  |  |  |  |
(1) | Investments classified in prior years as Level 3 that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have been removed from the fair value hierarchy in accordance with retrospective adoption of recently updated accounting standards. See Note 2 for additional information.
Schedule of Changes in the Pension and Postretirement Healthcare Plans' Benefit Obligation and Fair Value of Assets and Funded Status |
|  |  | Pension Plans |  | Postretirement Healthcare Plans
|  |  | 2016 |  | 2015 |  | 2016 |  | 2015
Accumulated Benefit Obligation ("ABO") | $ | 28,845 |  | $ | 26,793 |  |  |  |  |  |
Changes in Projected Benefit Obligation ("PBO") and |  |  |  |  |  |  |  |  |  |  |
| Accumulated Postretirement Benefit Obligation ("APBO") |  |  |  |  |  |  |  |  |  |  |
PBO/APBO at the beginning of year | $ | 27,512 |  | $ | 24,578 |  | $ | 929 |  | $ | 883
| Service cost |  | 662 |  |  | 653 |  |  | 40 |  |  | 40
| Interest cost |  | 1,180 |  |  | 1,096 |  |  | 42 |  |  | 41
| Actuarial loss |  | 277 |  |  | 2,231 |  |  | (64) |  |  | 6
| Benefits paid |  | (912) |  |  | (815) |  |  | (78) |  |  | (73)
| Business acquisition |  | 907 |  |  | - |  |  | - |  |  | -
| Other |  | (24) |  |  | (231) |  |  | 36 |  |  | 32
PBO/APBO at the end of year | $ | 29,602 |  | $ | 27,512 |  | $ | 905 |  | $ | 929
Change in Plan Assets |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at the beginning of year | $ | 23,505 |  | $ | 21,907 |  | $ | - |  | $ | -
| Actual return on plan assets |  | 223 |  |  | 1,718 |  |  | - |  |  | -
| Company contributions |  | 726 |  |  | 746 |  |  | 42 |  |  | 37
| Benefits paid |  | (912) |  |  | (815) |  |  | (78) |  |  | (73)
| Business acquisition |  | 761 |  |  | - |  |  | - |  |  | -
| Other |  | (32) |  |  | (51) |  |  | 36 |  |  | 36
Fair value of plan assets at the end of year | $ | 24,271 |  | $ | 23,505 |  | $ | - |  | $ | -
Funded Status of the Plans | $ | (5,331) |  | $ | (4,007) |  | $ | (905) |  | $ | (929)
Amount Recognized in the Balance Sheet at May 31: |  |  |  |  |  |  |  |  |  |  |
| Noncurrent asset | $ | 53 |  | $ | 26 |  | $ | - |  | $ | -
| Current pension, postretirement healthcare and other |  |  |  |  |  |  |  |  |  |  |
|  | benefit obligations |  | (31) |  |  | (34) |  |  | (40) |  |  | (42)
| Noncurrent pension, postretirement healthcare and other |  |  |  |  |  |  |  |  |  |  |
|  | benefit obligations |  | (5,353) |  |  | (3,999) |  |  | (865) |  |  | (887)
Net amount recognized | $ | (5,331) |  | $ | (4,007) |  | $ | (905) |  | $ | (929)
Amounts Recognized in AOCI and not yet reflected in |  |  |  |  |  |  |  |  |  |  |
| Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |
|  | Prior service credit and other | $ | (546) |  | $ | (668) |  | $ | - |  | $ | -
Amounts Recognized in AOCI and not yet reflected in |  |  |  |  |  |  |  |  |  |  |
| Net Periodic Benefit Cost expected to be amortized in |  |  |  |  |  |  |  |  |  |  |
| next year's Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |
|  | Prior service credit and other | $ | (121) |  | $ | (121) |  | $ | - |  | $ | -
Schedule of Components of Pension Plans |
Our pension plans included the following components at May 31 (in millions):
|  |  |  |  | PBO |  | Fair Value of Plan Assets |  | Funded Status
2016 |  |  |  |  |  |  |  |  |  |  |  |
| Qualified |  |  |  |  | $ | 27,543 |  | $ | 23,017 |  | $ | (4,526)
| Nonqualified |  |  |  |  |  | 261 |  |  | - |  |  | (261)
| International Plans |  |  |  |  |  | 1,798 |  |  | 1,254 |  |  | (544)
| Total |  |  |  |  | $ | 29,602 |  | $ | 24,271 |  | $ | (5,331)
2015 |  |  |  |  |  |  |  |  |  |  |  |
| Qualified |  |  |  |  | $ | 26,365 |  | $ | 23,006 |  | $ | (3,359)
| Nonqualified |  |  |  |  |  | 271 |  |  | - |  |  | (271)
| International Plans |  |  |  |  |  | 876 |  |  | 499 |  |  | (377)
| Total |  |  |  |  | $ | 27,512 |  | $ | 23,505 |  | $ | (4,007)
Schedule of Fair Value of Plan Assets for Pension Plans with an Obligation in Excess of Plan Assets |
|  |  | PBO Exceeds the Fair Value of Plan Assets
|  |  | 2016 |  | 2015
Pension Benefits |  |  |  |  |
| Fair value of plan assets | $ | 23,867 |  | $ | 23,099
| PBO |  | (29,251) |  |  | (27,132)
| Net funded status | $ | (5,384) |  | $ | (4,033)
|  |  | ABO Exceeds the Fair Value of Plan Assets
|  |  | 2016 |  | 2015
Pension Benefits |  |  |  |  |
| ABO(1) | $ | (28,493) |  | $ | (26,413)
| Fair value of plan assets |  | 23,865 |  |  | 23,099
| PBO |  | (29,249) |  |  | (27,132)
| Net funded status | $ | (5,384) |  | $ | (4,033)
(1)ABO not used in determination of funded status.
Schedule of Net Periodic Benefit Cost |
| Pension Plans |  | Postretirement Healthcare Plans
| 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014
Service cost | $ | 662 |  | $ | 653 |  | $ | 657 |  | $ | 40 |  | $ | 40 |  | $ | 38
Interest cost |  | 1,180 |  |  | 1,096 |  |  | 1,055 |  |  | 42 |  |  | 41 |  |  | 40
Expected return on plan assets |  | (1,508) |  |  | (1,678) |  |  | (1,495) |  |  | - |  |  | - |  |  | -
Amortization of prior service credit |  | (121) |  |  | (115) |  |  | (115) |  |  | - |  |  | - |  |  | -
Actuarial losses (gains) and other |  | 1,562 |  |  | 2,190 |  |  | 7 |  |  | (64) |  |  | 6 |  |  | 5
Net periodic benefit cost | $ | 1,775 |  | $ | 2,146 |  | $ | 109 |  | $ | 18 |  | $ | 87 |  | $ | 83
Schedule of Amounts Recognized in Other Comprehensive Income for All Plans |
Amounts recognized in other comprehensive income ("OCI") for all plans for the years ended May 31 were as follows (in millions): |  |  |
|  |  | 2016 |  | 2015
|  |  | Pension Plans |  | Postretirement Healthcare Plans |  | Pension Plans |  | Postretirement Healthcare Plans
|  |  | Gross Amount |  | Net of Tax Amount |  | Gross Amount |  | Net of Tax Amount |  | Gross Amount |  | Net of Tax Amount |  | Gross Amount |  | Net of Tax Amount
Prior service cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| arising during period | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (113) |  | $ | (72) |  | $ | (1) |  | $ | -
Amortizations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Prior services credit |  | 121 |  |  | 76 |  |  | - |  |  | - |  |  | 115 |  |  | 72 |  |  | - |  |  | -
Total recognized in OCI | $ | 121 |  | $ | 76 |  | $ | - |  | $ | - |  | $ | 2 |  | $ | - |  | $ | (1) |  | $ | -
Schedule of Expected Future Benefit Payments |
Benefit payments, which reflect expected future service, are expected to be paid as follows for the years ending May 31 (millions):
| Pension Plans |  | Postretirement Healthcare Plans |
2017 | $ | 982 |  | $ | 40 |
2018 |  | 1,010 |  |  | 41 |
2019 |  | 1,091 |  |  | 43 |
2020 |  | 1,201 |  |  | 42 |
2021 |  | 1,287 |  |  | 43 |
2022-2026 |  | 8,424 |  |  | 240 |

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