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Short-term Financing (Tables) | 12 Months Ended
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May 31, 2020
Revolving Credit Facility [Member] |
Line of Credit Facility [Line Items] |
Description of Credit Facilities |
|  |  |  | Maximum |  | Amount Outstanding
|  |  |  | Amount |  | May 31,
$ in millions |  | Expiration Date |  | Available |  | 2020 |  | 2019
Credit facilities: |  |  |  |  |  |  |  |  |  |  |
JP Morgan Chase Bank, N.A. ("JPM")(1)(2) |  | July 31, 2024 |  | $ | 1,000.0 |  | $ | - |  | $ | -
JPM (1) |  | August 17, 2022 |  | $ | 500.0 |  |  | - |  |  | -
PNC Bank, National Association (“PNC”) (weighted-average interest rate of 1.28% at May 31, 2020 (3) |  | February 6, 2023 |  | $ | 250.0 |  |  | 5.1 |  |  | -
Outstanding short-term financing (4) |  |  |  |  |  |  | $ | 5.1 |  | $ | -
(1)JPM acts as the administrative agent for this syndicated credit facility. (2)This agreement replaced the Company’s predecessor five-year unsecured $1.0 billion credit facility dated August 5, 2015, which was terminated on July 31, 2019. (3)This agreement replaced the Company’s predecessor four-year unsecured $150.0 million credit facility dated March 17, 2016, which was terminated on February 6, 2020. (4)The total amount available under these credit facilities as of May 31, 2020 was approximately $1.8 billion. Amounts under the PNC credit facility remain outstanding as of the date of this report.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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