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Stock-Based Compensation (Tables) | 12 Months Ended
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May 31, 2024
Stock Based Compensation Tables [Abstract] |
Stock-based compensation expense | Our total stock-based compensation expense for the years ended May 31 was as follows (in millions):
|  | 2024 |  |  | 2023 |  |  | 2022 |
Stock-based compensation expense |  | $ | 163 |  |  | $ | 182 |  |  | $ | 190 |
Schedule of Stock Based Compensation Key Assumptions for Valuation | The following table includes the weighted-average Black-Scholes value per share of our stock option grants, the intrinsic value of options exercised (in millions), and the key weighted-average assumptions used in the valuation calculations for options granted during the years ended May 31, followed by a discussion of our methodology for developing each of the assumptions used in the valuation model:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Weighted-average Black-Scholes value per share |  | $ | 79.48 |  |  | $ | 63.44 |  |  | $ | 80.21 |
Intrinsic value of options exercised |  | $ | 290 |  |  | $ | 160 |  |  | $ | 150 |
Black-Scholes assumptions: |  |  |  |  |  |  |  |  |
Expected lives |  | 6.4 years |  |  | 6.4 years |  |  | 6.4 years |
Expected volatility |  |  | 35 | % |  |  | 34 | % |  |  | 32 | %
Risk-free interest rate |  |  | 3.94 | % |  |  | 1.68 | % |  |  | 0.65 | %
Dividend yield |  |  | 2.030 | % |  |  | 1.694 | % |  |  | 0.983 | %
Schedule of Stock Option Activity | The following table summarizes information regarding stock option activity for the year ended May 31, 2024:
|  | Stock Options |
|  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value (in millions)(1) |
Outstanding at June 1, 2023 |  |  | 15,191,189 |  |  | $ | 199.89 |  |  |  |  |  |  |
Granted |  |  | 1,837,624 |  |  | $ | 234.69 |  |  |  |  |  |  |
Exercised |  |  | (2,927,083 | ) |  | $ | 167.76 |  |  |  |  |  |  |
Forfeited |  |  | (643,740 | ) |  | $ | 225.82 |  |  |  |  |  |  |
Outstanding at May 31, 2024 |  |  | 13,457,990 |  |  | $ | 210.35 |  |  |  | 5.9 |  |  | $ | 665 |
Exercisable |  |  | 9,110,750 |  |  | $ | 204.61 |  |  |  | 4.8 |  |  | $ | 508 |
Expected to vest |  |  | 3,930,202 |  |  | $ | 222.43 |  |  |  | 8.1 |  |  | $ | 143 |
Available for future grants |  |  | 11,967,683 |  |  |  |  |  |  |  |  |  |
(1) Only presented for options with market value at May 31, 2024 in excess of the exercise price of the option.
Schedule of Vested and Unvested Restricted Stock and RSUs | The following table summarizes information regarding vested and unvested restricted stock and RSUs for the year ended May 31, 2024:
|  | Restricted Stock and RSUs |
|  | Shares/Units |  |  | Weighted- Average Grant Date Fair Value |
Unvested at June 1, 2023 |  |  | 379,934 |  |  | $ | 199.91 |
Granted |  |  | 169,371 |  |  | $ | 239.33 |
Vested |  |  | (187,241 | ) |  | $ | 192.34 |
Forfeited |  |  | (12,092 | ) |  | $ | 215.85 |
Unvested at May 31, 2024 |  |  | 349,972 |  |  | $ | 226.11 |
Available for future grants |  |  | 751,017 |  |  |  |
Schedule of Stock Option Vesting | Stock option vesting during the years ended May 31 was as follows:
|  | Stock Options |
|  | Vested during the year |  |  | Fair value (in millions) |
2024 |  |  | 2,599,042 |  |  | $ | 137 |
2023 |  |  | 2,711,215 |  |  | $ | 137 |
2022 |  |  | 3,005,727 |  |  | $ | 138 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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