COMPUTATION OF EARNINGS PER SHARE (Tables)

12 Months Ended

May 31, 2025

The calculation of basic and diluted earnings per common share for the years ended May 31 was as follows (in millions, except per share amounts):


	2025		2024		2023
Basic earnings per common share:
Net earnings allocable to common shares(1)	$	4,087	$	4,325	$	3,966
Weighted-average common shares	241		248		254
Basic earnings per common share	$	16.96	$	17.41	$	15.60

Diluted earnings per common share:
Net earnings allocable to common shares(1)	$	4,087	$	4,325	$	3,966
Weighted-average common shares	241		248		254
Dilutive effect of share-based awards	2		3		2
Weighted-average diluted shares	243		251		256
Diluted earnings per common share	$	16.81	$	17.21	$	15.48

Anti-dilutive options excluded from diluted earnings per common share	4.9		5.8		7.4

(1)Net earnings available to participating securities were $5 million in 2025, $6 million in 2024, and $6 million in 2023.