v3.3.1.900
Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Nov. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income
The changes in Accumulated other comprehensive income, net of tax, for the three and six months ended November 30, 2015 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at August 31, 2015
 
$
(112
)
 
$
891

 
$
115

 
$
(61
)
 
$
833

Other comprehensive gains (losses) before reclassifications(3)
 
(29
)
 
425

 
—

 
11

 
407

Reclassifications to net income of previously deferred (gains) losses(4)
 
—

 
(135
)
 
—

 
2

 
(133
)
Other comprehensive income (loss)
 
(29
)
 
290

 
—

 
13

 
274

Balance at November 30, 2015
 
$
(141
)
 
$
1,181

 
$
115

 
$
(48
)
 
$
1,107

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $0 million, $18 million, $0 million, $(2) million and $16 million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $0 million, $0 million, $0 million and $0 million, respectively.
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges(3)
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at May 31, 2015
 
$
(31
)
 
$
1,220

 
$
115

 
$
(58
)
 
$
1,246

Other comprehensive gains (losses) before reclassifications(4)
 
(110
)
 
283

 
—

 
11

 
184

Reclassifications to net income of previously deferred (gains) losses(5)
 
—

 
(322
)
 
—

 
(1
)
 
(323
)
Other comprehensive income (loss)
 
(110
)
 
(39
)
 
—

 
10

 
(139
)
Balance at November 30, 2015
 
$
(141
)
 
$
1,181

 
$
115

 
$
(48
)
 
$
1,107

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Certain amounts have been updated to reflect the proper classification of $40 million between Other comprehensive gains (losses) before reclassifications and Reclassifications to net income of previously deferred (gains) losses for the three months ended August 31, 2015.
(4)
Net of tax benefit (expense) of $0 million, $16 million, $0 million, $(2) million and $14 million, respectively.
(5)
Net of tax (benefit) expense of $0 million, $1 million, $0 million, $0 million and $1 million, respectively.
The changes in Accumulated other comprehensive income, net of tax, for the three and six months ended November 30, 2014 were as follows:
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at August 31, 2014
 
$
(9
)
 
$
167

 
$
115

 
$
(49
)
 
$
224

Other comprehensive gains (losses) before reclassifications(3)
 
(34
)
 
351

 
—

 
9

 
326

Reclassifications to net income of previously deferred (gains) losses(4)
 
—

 
(18
)
 
—

 
(7
)
 
(25
)
Other comprehensive income (loss)
 
(34
)
 
333

 
—

 
2

 
301

Balance at November 30, 2014
 
$
(43
)
 
$
500

 
$
115

 
$
(47
)
 
$
525

(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning and ending balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $11 million, $(28) million, $0 million, $(1) million and $(18) million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $(3) million, $0 million, $2 million and $(1) million, respectively.
(In millions)
 
Foreign Currency Translation Adjustment(1)(2)
 
Cash Flow Hedges
 
Net Investment Hedges(1)(2)
 
Other
 
Total
Balance at May 31, 2014
 
$
(11
)
 
$
32

 
$
115

 
$
(51
)
 
$
85

Other comprehensive gains (losses) before reclassifications(3)
 
(32
)
 
470

 
—

 
14

 
452

Reclassifications to net income of previously deferred (gains) losses(4)
 
—

 
(2
)
 
—

 
(10
)
 
(12
)
Other comprehensive income (loss)
 
(32
)
 
468

 
—

 
4

 
440

Balance at November 30, 2014
 
$
(43
)
 
$
500

 
$
115

 
$
(47
)
 
$
525


(1)
The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)
Beginning and ending balances have been updated to reflect the proper classification of $20 million of deferred tax balances between Foreign Currency Translation Adjustment and Net Investment Hedges.
(3)
Net of tax benefit (expense) of $0 million, $(27) million, $0 million, $(3) million and $(30) million, respectively.
(4)
Net of tax (benefit) expense of $0 million, $(7) million, $0 million, $3 million and $(4) million, respectively.
Reclassification out of Accumulated Other Comprehensive Income
The following table summarizes the reclassifications from Accumulated other comprehensive income to the Unaudited Condensed Consolidated Statements of Income:
 
 
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
 
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
 
 
Three Months Ended November 30,
 
Six Months Ended November 30,
 
(In millions)
 
2015
 
2014
 
2015(1)
 
2014
 
Gains (losses) on cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Foreign exchange forwards and options
 
$
(29
)
 
$
(19
)
 
$
(75
)
 
$
(36
)
 
Revenues
Foreign exchange forwards and options
 
125

 
21

 
298

 
13

 
Cost of sales
Foreign exchange forwards and options
 
—

 
—

 
—

 
—

 
Total selling and administrative expense
Foreign exchange forwards and options
 
39

 
13

 
100

 
18

 
Other (income) expense, net
Total before tax
 
135

 
15

 
323

 
(5
)
 
 
Tax (expense) benefit
 
—

 
3

 
(1
)
 
7

 
 
Gain (loss) net of tax
 
135

 
18

 
322

 
2

 
 
Gains (losses) on other
 
(2
)
 
9

 
1

 
13

 
Other (income) expense, net
Total before tax
 
(2
)
 
9

 
1

 
13

 
 
Tax (expense)
 
—

 
(2
)
 
—

 
(3
)
 
 
Gain (loss) net of tax
 
(2
)
 
7

 
1

 
10

 
 
Total net gain (loss) reclassified for the period
 
$
133

 
$
25

 
$
323

 
$
12

 
 

(1) Certain amounts have been updated to reflect the proper classification of $40 million between Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income for cash flow hedges for the three months ended August 31, 2015.