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INCOME TAXES (Tables)

12 Months Ended

May 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The components of the provision for income taxes for the years ended May 31 were as follows (in millions):

			2025						2024						2023
Current provision
Domestic:
Federal			$	891					$	1,184					$	579
State and local			146						218						157
Foreign			359						265						209
			1,396						1,667						945
Deferred provision
Domestic:
Federal			(302)						(82)						369
State and local			20						60						37
Foreign			235						(140)						40
			(47)						(162)						446
Total Provision			$	1,349					$	1,505					$	1,391

Schedule of Total Income Tax Expense and Amount Computed by Statutory Federal Income Tax Rate to Income Before Income Taxes

A reconciliation of total income tax expense and the amount computed by applying the statutory federal income tax to income before income taxes for the years ended May 31 is as follows (dollars in millions):

			2025						2024						2023
Taxes computed at federal statutory rate			$	1,143					$	1,226					$	1,126
Increases (decreases) in income tax from:
U.S. and foreign return-to-provision adjustments			5						11						(44)
State and local income taxes, net of federal benefit			137						177						152
Foreign operations			101						65						96
Non-deductible expenses			72						48						40
Uncertain tax positions			(5)						(21)						60
Benefits from share-based payments			(18)						(26)						(18)
Valuation allowance			21						59						59
Foreign tax rate enactments			6						—						3
State deferred tax remeasurement			—						54						—
Goodwill impairment charges			—						—						8
Corporate structuring transactions			(66)						—						—
Other, net			(47)						(88)						(91)
Provision for income taxes			$	1,349					$	1,505					$	1,391
Effective Tax Rate			24.8		%				25.8		%				25.9		%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities as of May 31 were as follows (in millions):

			2025												2024
			Deferred Tax Assets						Deferred Tax Liabilities						Deferred Tax Assets						Deferred Tax Liabilities
Property, equipment, leases, and intangibles			$	4,515					$	10,434					$	4,597					$	10,815
Employee benefits			725						291						744						68
Self-insurance accruals			1,247						—						1,183						—
Other			591						42						561						140
Net operating loss/credit carryforwards			1,123						—						1,306						—
Valuation allowances			(523)						—						(537)						—
			$	7,678					$	10,767					$	7,854					$	11,023

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):

			2025						2024
Noncurrent deferred tax assets(1)			$	1,116					$	1,313
Noncurrent deferred tax liabilities			(4,205)						(4,482)
			$	(3,089)					$	(3,169)

(1)Noncurrent deferred tax assets are included within “Other Assets” in the accompanying consolidated balance sheets.

Schedule of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended May 31 is as follows (in millions):

			2025						2024						2023
Balance at beginning of year			$	186					$	212					$	169
Increases for tax positions taken in the current year			31						5						3
Increases for tax positions taken in prior years			33						4						68
Decreases for tax positions taken in prior years			(11)						(3)						(7)
Settlements			(87)						(31)						(15)
Changes due to currency translation			3						(1)						(6)
Balance at end of year			$	155					$	186					$	212

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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.

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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