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RETIREMENT PLANS (Tables)
 12 Months Ended
May 31, 2025
Retirement Benefits [Abstract]  
Schedule of Retirement Plan Costs
A summary of our retirement plan costs for the years ended May 31 is as follows (in millions):
202520242023
Defined benefit pension plans$278 $363 $236 
Defined contribution plans1,144 968 955 
Postretirement healthcare plans87 85 92 
Pension plans MTM gain(515)(561)(650)
$994 $855 $633 
The components of the MTM adjustments for the years ended May 31 are as follows (in millions):
202520242023
Actual versus expected return on assets$75 $(67)$2,492 
Discount rate change(1,024)(1,139)(3,395)
Demographic experience:
Current year actuarial loss196 67 142 
Change in future assumptions247 577 110 
Pension plan amendments, including curtailment gains(9)1 1 
Total MTM gain$(515)$(561)$(650)
Schedule of Weighted-Average Actuarial Assumptions Used to Determine the Benefit Obligations and Net Periodic Benefit Cost of Plans
Weighted-average actuarial assumptions used to determine the benefit obligations and net periodic benefit cost of our plans are as follows:
U.S. Pension PlansInternational Pension PlansPostretirement Healthcare Plans
202520242023202520242023202520242023
Discount rate used to determine benefit obligation5.94 %5.58 %5.20 %4.40 %4.29 %4.21 %5.60 %5.63 %5.37 %
Discount rate used to determine net periodic benefit cost5.58 5.20 4.25 4.29 4.21 3.09 5.63 5.37 4.35 
Rate of increase in future compensation levels used to determine benefit obligation5.36 5.29 5.13 3.11 3.06 3.04 — — — 
Rate of increase in future compensation levels used to determine net periodic benefit cost5.29 5.13 5.11 3.06 3.04 2.89 — — — 
Expected long-term rate of return on assets6.75 6.50 6.50 3.59 3.55 2.26 — — — 
Interest crediting rate used to determine benefit obligation4.10 4.32 4.23 2.30 2.90 2.40 — — — 
Interest crediting rate used to determine net periodic benefit cost4.32 4.23 4.00 2.90 2.40 3.70 — — — 
Schedule of Plan Assets at Measurement Date
The fair values of investments by level and asset category and the weighted-average asset allocations for our U.S. Pension Plans and our most significant international pension plan at the measurement date are presented in the following tables (in millions):
Plan Assets at Measurement Date
2025
Asset Class (U.S. Plan)Fair ValueActual %
Target
Range %(1)
Quoted Prices in
Active Markets
Level 1		Other Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Cash and cash equivalents$641 2 %
0 - 5%
$34 $607 $— 
Equities
25 - 40
U.S. large cap equity(2)
3,804 14 1,678 — — 
International equities(2)
2,869 11 1,994 — — 
Global equities(2)
1,224 5 — — — 
U.S. SMID cap equity671 2 662 9 — 
Fixed-income securities
40 - 60
Corporate6,625 25 — 6,625 — 
Government(2)
4,142 16 — 2,277 — 
Mortgage-backed and other(2)
1,648 6 — 229 — 
Alternative investments(2)
4,972 19 
15 - 25
— — 1,083 
Other5 — (16)21 — 
Total U.S. plan assets$26,601 100 %$4,352 $9,768 $1,083 
Asset Class (International Plan)
Cash and cash equivalents$12 3 %$12 $— $— 
Fixed-income securities
Corporate(2)
118 34 — — — 
Government(2)
184 53 141 — — 
Other(2)
35 10 — — — 
Total international plan assets$349 100 %$153 $— $— 
(1)Target ranges have not been provided for international plan assets as they are managed at an individual country level.
(2)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.
Plan Assets at Measurement Date
2024
Asset Class (U.S. Plan)Fair ValueActual %
Target
Range %(1)
Quoted Prices in
Active Markets
Level 1		Other Observable
Inputs
Level 2		Unobservable
Inputs
Level 3
Cash and cash equivalents$577 2 %
0 - 5%
$130 $447 $— 
Equities
25 - 40
U.S. large cap equity(2)
3,376 13 1,382 — — 
International equities(2)
2,631 10 1,780 — — 
Global equities(2)
1,397 5 — — — 
U.S. SMID cap equity926 4 916 10 — 
Fixed-income securities
40 - 60
Corporate6,502 25 — 6,502 — 
Government(2)
4,194 16 — 2,335 — 
Mortgage-backed and other(2)
1,514 6 — 205 — 
Alternative investments(2)
4,777 19 
15 - 25
— — 1,075 
Other(97)— (111)14 — 
Total U.S. plan assets$25,797 100 %$4,097 $9,513 $1,075 
Asset Class (International Plan)
Cash and cash equivalents$8 2 %$8 $— $— 
Fixed-income securities
Corporate(2)
62 18 — — — 
Government(2)
177 52 149 — — 
Other(2)
94 28 — — — 
Total international plan assets$341 100 %$157 $— $— 
(1)Target ranges have not been provided for international plan assets as they are managed at an individual country level.
(2)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
The change in fair value of Level 3 assets that use significant unobservable inputs is shown in the table below (in millions):
U.S. Pension Plans
20252024
Balance at beginning of year$1,075 $937 
Actual return on plan assets:
Assets held during current year(63)59 
Assets sold during the year75 30 
Purchases, sales, and settlements, net(4)49 
Balance at end of year$1,083 $1,075 
Schedule of Changes in the Pension and Postretirement Healthcare Plans' Benefit Obligation and Fair Value of Assets and Funded Status
The following tables provide a reconciliation of the changes in the pension and postretirement healthcare plans’ benefit obligations and fair value of assets over the two-year period ended May 31, 2025 and a statement of the funded status as of May 31, 2025 and 2024 (in millions):
U.S. Pension PlansInternational
Pension Plans		Postretirement Healthcare Plans
202520242025202420252024
Accumulated Benefit Obligation (“ABO”)$25,501 $25,756 $938 $885 
Changes in PBO and Accumulated Postretirement Benefit Obligation (“APBO”)
PBO/APBO at the beginning of year$26,284 $26,426 $1,018 $990 $1,162 $1,169 
Service cost499 544 38 38 26 27 
Interest cost1,447 1,362 43 42 65 61 
Actuarial (gain) loss(581)(514)(4)3 2 18 
Benefits paid(1,674)(1,534)(39)(39)(62)(89)
Settlements— — (20)(11)— — 
Other— — 37 (5)2 (24)
PBO/APBO at the end of year$25,975 $26,284 $1,073 $1,018 $1,195 $1,162 
Change in Plan Assets
Fair value of plan assets at the beginning of year$25,797 $24,826 $602 $579 $— $— 
Actual return on plan assets1,661 1,674 6 12 — — 
Company contributions817 831 64 50 59 67 
Benefits paid(1,674)(1,534)(39)(39)(62)(89)
Settlements— — (22)(11)— — 
Other— — 33 11 3 22 
Fair value of plan assets at the end of year$26,601 $25,797 $644 $602 $— $— 
Funded Status of the Plans$626 $(487)$(429)$(416)$(1,195)$(1,162)
Amount Recognized in the Balance Sheet at May 31:
Noncurrent asset$746 $— $88 $73 $— $— 
Current pension, and other benefit obligations(33)(35)(25)(22)(79)(81)
Noncurrent pension, and other benefit obligations(87)(452)(492)(467)(1,116)(1,081)
Net amount recognized$626 $(487)$(429)$(416)$(1,195)$(1,162)
Amounts Recognized in AOCL and not yet reflected in Net Periodic Benefit Cost:
Prior service cost (credit)$(32)$(39)$3 $3 $(39)$(43)
Schedule of Components of Pension Plans
Our pension plans included the following components at May 31 (in millions):
PBOFair Value of
Plan Assets		Funded Status
2025
Qualified$25,855 $26,601 $746 
Nonqualified120 — (120)
International Plans1,073 644 (429)
Total$27,048 $27,245 $197 
2024
Qualified$26,152 $25,797 $(355)
Nonqualified132 — (132)
International Plans1,018 602 (416)
Total$27,302 $26,399 $(903)
Schedule of Fair Value of Plan Assets for Pension Plans with an Obligation in Excess of Plan Assets
The table above provides the PBO, fair value of plan assets, and funded status of our pension plans on an aggregated basis. The following tables present our plans on a disaggregated basis to show those plans (as a group) whose assets did not exceed their liabilities. The fair value of plan assets for pension plans with a PBO or ABO in excess of plan assets at May 31 were as follows (in millions):
PBO Exceeds the Fair Value
of Plan Assets
20252024
U.S. Pension Benefits
Fair value of plan assets$— $25,797 
PBO(120)(26,284)
Net funded status$(120)$(487)
International Pension Benefits
Fair value of plan assets$268 $239 
PBO(784)(728)
Net funded status$(516)$(489)
ABO Exceeds the Fair Value
of Plan Assets
20252024
U.S. Pension Benefits
ABO(1)
$(115)$(124)
Fair value of plan assets— — 
PBO(120)(132)
Net funded status$(120)$(132)
International Pension Benefits
ABO(1)
$(627)$(575)
Fair value of plan assets242 216 
PBO(757)(703)
Net funded status$(515)$(487)
(1)ABO not used in determination of funded status.
Schedule of Contributions to Qualified Pension Plans
Contributions to our qualified U.S. Pension Plans for the years ended May 31 were as follows (in millions):
20252024
Required$— $— 
Voluntary800 800 
$800 $800 
Schedule of Net Periodic Benefit (Income) Cost
Net periodic benefit (income) cost for the years ended May 31 were as follows (in millions):
U.S. Pension PlansInternational Pension PlansPostretirement Healthcare Plans
202520242023202520242023202520242023
Service cost$499 $544 $651 $38 $38 $44 $26 $27 $37 
Interest cost1,447 1,362 1,218 43 42 34 65 61 55 
Expected return on plan assets(1,721)(1,598)(1,688)(21)(18)(14)— — — 
Amortization of prior service credit(8)(7)(7)1 — (2)(4)(3)— 
Actuarial losses (gains) and other(521)(590)(487)4 13 (25)2 16 (138)
Net periodic benefit (income) cost$(304)$(289)$(313)$65 $75 $37 $89 $101 $(46)
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 (in millions):
U.S. Pension PlanInternational
Pension Plans		Postretirement
Healthcare Plans
2026$1,758 $60 $79 
20271,793 56 90 
20281,839 61 100 
20291,879 74 110 
20301,935 81 121 
2031-203510,292 453 672