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Income Taxes (Tables) | 12 Months Ended
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May 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes for the years ended May 31 were as follows (in millions):
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current provision (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Domestic: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (230 | ) |  | $ | (107 | ) |  | $ | (540 | )
State and local |  |  | 67 |  |  |  | 64 |  |  |  | 43 |
Foreign |  |  | 198 |  |  |  | 243 |  |  |  | 461 |
|  |  | 35 |  |  |  | 200 |  |  |  | (36 | )
Deferred provision (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Domestic: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 475 |  |  |  | (61 | ) |  |  | 271 |
State and local |  |  | 1 |  |  |  | (7 | ) |  |  | 125 |
Foreign |  |  | (128 | ) |  |  | (17 | ) |  |  | (579 | )
|  |  | 348 |  |  |  | (85 | ) |  |  | (183 | )
|  | $ | 383 |  |  | $ | 115 |  |  | $ | (219 | )
Schedule of Reconciliation of Total Income Tax Expense and Amount Computed by Statutory Federal Income Tax Rate to Income Before Taxes | A reconciliation of total income tax expense and the amount computed by applying the statutory federal income tax rate (21% in 2020, 21% in 2019 and 29.2% in 2018) to income before taxes for the years ended May 31 is as follows (in millions):
|  | 2020 |  |  | 2019 |  |  | 2018 |
Taxes computed at federal statutory rate |  | $ | 350 |  |  | $ | 138 |  |  | $ | 1,271 |
(Decreases) increases in income tax from: |  |  |  |  |  |  |  |  |  |  |  |
Valuation allowance |  |  | (129 | ) |  |  | (79 | ) |  |  | 31 |
Goodwill impairment charge |  |  | 75 |  |  |  | — |  |  |  | 109 |
Benefit from U.S. tax loss carryback to prior years |  |  | (71 | ) |  |  | — |  |  |  | — |
Non-deductible expenses |  |  | 70 |  |  |  | 79 |  |  |  | 81 |
State and local income taxes, net of federal benefit |  |  | 53 |  |  |  | 44 |  |  |  | 119 |
U.S. deferred tax adjustments related to foreign operations |  |  | 51 |  |  |  | — |  |  |  | — |
Foreign operations |  |  | 38 |  |  |  | (1 | ) |  |  | 25 |
Uncertain tax positions |  |  | (14 | ) |  |  | 8 |  |  |  | 86 |
Foreign tax rate enactments |  |  | (10 | ) |  |  | 50 |  |  |  | 6 |
Benefits from share-based payments |  |  | (5 | ) |  |  | (18 | ) |  |  | (60 | )
TCJA(1) |  |  | — |  |  |  | (71 | ) |  |  | (1,354 | )
Foreign tax credits from distributions |  |  | — |  |  |  | (8 | ) |  |  | (225 | )
Corporate structuring transactions(2) |  |  | — |  |  |  | — |  |  |  | (255 | )
Other, net |  |  | (25 | ) |  |  | (27 | ) |  |  | (53 | )
Provision for income taxes (benefit) |  | $ | 383 |  |  | $ | 115 |  |  | $ | (219 | )
Effective Tax Rate |  |  | 23.0 | % |  |  | 17.6 | % |  |  | (5.0 | )%
(1) | Primary components in 2018 were a $1.15 billion benefit from the remeasurement of our net U.S. deferred tax liability and a $204 million one-time benefit from a contribution to our U.S. Pension Plans in 2018.
(2) | The 2018 net benefit consists of foreign deferred tax benefits of $434 million, which were partially offset by U.S. deferred tax expenses of $179 million.
Schedule of Significant Components of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities as of May 31 were as follows (in millions):
|  | 2020 |  |  | 2019 |
|  | Deferred Tax Assets |  |  | Deferred Tax Liabilities |  |  | Deferred Tax Assets |  |  | Deferred Tax Liabilities |
Property, equipment, leases and intangibles(1) |  | $ | 3,819 |  |  | $ | 8,745 |  |  | $ | 592 |  |  | $ | 4,633 |
Employee benefits |  |  | 1,448 |  |  |  | — |  |  |  | 1,256 |  |  |  | — |
Self-insurance accruals |  |  | 647 |  |  |  | — |  |  |  | 585 |  |  |  | — |
Other |  |  | 579 |  |  |  | 375 |  |  |  | 510 |  |  |  | 340 |
Net operating loss/credit carryforwards |  |  | 1,262 |  |  |  | — |  |  |  | 1,139 |  |  |  | — |
Valuation allowances |  |  | (450 | ) |  |  | — |  |  |  | (590 | ) |  |  | — |
|  | $ | 7,305 |  |  | $ | 9,120 |  |  | $ | 3,492 |  |  | $ | 4,973 |
(1) | Includes impact from adoption of the new lease accounting standard in 2020. See Note 7 for additional information.
Schedule of Net Deferred Tax Liabilities | The net deferred tax liabilities as of May 31 have been classified in the balance sheets as follows (in millions):
|  | 2020 |  |  | 2019 |
Noncurrent deferred tax assets(1) |  | $ | 1,347 |  |  | $ | 1,340 |
Noncurrent deferred tax liabilities |  |  | (3,162 | ) |  |  | (2,821 | )
|  | $ | (1,815 | ) |  | $ | (1,481 | )
(1) | Noncurrent deferred tax assets are included in the line item “Other Assets” in our accompanying consolidated balance sheets.
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
|  | 2020 |  |  | 2019 |  |  | 2018 |
Balance at beginning of year |  | $ | 164 |  |  | $ | 161 |  |  | $ | 67 |
Increases for tax positions taken in the current year |  |  | 3 |  |  |  | — |  |  |  | 3 |
Increases for tax positions taken in prior years |  |  | 4 |  |  |  | 31 |  |  |  | 103 |
Increase for business acquisition |  |  | — |  |  |  | — |  |  |  | — |
Decreases for tax positions taken in prior years |  |  | (10 | ) |  |  | (4 | ) |  |  | (10 | )
Settlements |  |  | (31 | ) |  |  | (21 | ) |  |  | (2 | )
Decreases from lapse of statute of limitations |  |  | — |  |  |  | — |  |  |  | — |
Changes due to currency translation |  |  | (1 | ) |  |  | (3 | ) |  |  | — |
Balance at end of year |  | $ | 129 |  |  | $ | 164 |  |  | $ | 161 |

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- Definition For entities that net deferred tax assets and tax liabilities, represents the net amount of deferred tax assets (after reduction for valuation allowance) and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities that are classified as current or noncurrent in the financial statements. + References No definition available. + Details
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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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