v3.25.2
LONG-TERM DEBT (Tables)
 12 Months Ended
May 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt, net of unamortized premiums, discounts, debt issuance costs, and interest rate swap fair value adjustments comprises the following: 
BOOK VALUE OUTSTANDING
AS OF MAY 31,
Scheduled Maturity (Dollars in millions)
ORIGINAL PRINCIPALINTEREST RATEINTEREST PAYMENTS20252024
Corporate Term Debt:(1)(2)
March 27, 20251,000 2.40 %Semi-Annually$— $999 
November 1, 20261,000 2.38 %Semi-Annually999 998 
March 27, 20271,000 2.75 %Semi-Annually999 998 
March 27, 20301,500 2.85 %Semi-Annually1,495 1,494 
March 27, 2040(3)
1,000 3.25 %Semi-Annually993 966 
May 1, 2043(3)
500 3.63 %Semi-Annually502 488 
November 1, 2045(3)
1,000 3.88 %Semi-Annually997 986 
November 1, 2046500 3.38 %Semi-Annually493 492 
March 27, 20501,500 3.38 %Semi-Annually1,483 1,482 
Total7,961 8,903 
Less Current Portion of Long-Term Debt— 1,000 
TOTAL LONG-TERM DEBT$7,961 $7,903 
(1)These senior unsecured obligations rank equally with the Company's other unsecured and unsubordinated indebtedness.
(2)The bonds are redeemable at the Company's option at a price equal to the greater of (i) 100% of the aggregate principal amount of the notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments, plus in each case, accrued and unpaid interest. However, the bonds also feature a par call provision, which allows for the bonds to be redeemed at a price equal to 100% of the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest on or after the Par Call Date, which can range from one to six months prior to the scheduled maturity, as defined in the respective notes.
(3)The Company entered into interest rate swap agreements pursuant to which the Company receives fixed interest payments at the same rate as the term debt and pays variable interest payments based on SOFR plus a fixed spread. At May 31, 2025, the notional amount outstanding of these swaps was $2.4 billion and had interest rates payable that ranged from 3.6% to 4.5%. These swaps mature during fiscal 2034 and 2035.