v3.22.2
NOTES PAYABLE AND OTHER BORROWINGS (Details)
€ in Millions, $ in Millions
 12 Months Ended
May 31, 2022
USD ($)
May 31, 2022
EUR (€)
May 31, 2021
USD ($)
Jul. 10, 2013
EUR (€)
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 76,234      
Notes payable and other borrowings 76,166   $ 84,529  
Unamortized discount/issuance costs (284)   (315)  
Hedge accounting fair value adjustments [1],[2] (23)   31  
Total notes payable and other borrowings 75,859   84,245  
Notes payable, current 3,749   8,250  
Notes payable and other borrowings, non-current 72,110   75,995  
2.80% senior notes due July 2021 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value [2] $ 1,500      
Stated interest rate percentage 2.80% 2.80%    
Maturity date [2] Jul. 08, 2021      
Date of issuance [2] Jul. 08, 2014      
Notes payable and other borrowings [2]     $ 1,500  
Effective interest rate [2]     2.82%  
1.90% senior notes due September 2021 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 4,250      
Stated interest rate percentage 1.90% 1.90%    
Maturity date Sep. 15, 2021      
Date of issuance Jul. 07, 2016      
Notes payable and other borrowings     $ 4,250  
Effective interest rate     1.94%  
2.50% senior notes due May 2022 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,500      
Stated interest rate percentage 2.50% 2.50%    
Maturity date May 15, 2022      
Date of issuance May 05, 2015      
Notes payable and other borrowings     $ 2,500  
Effective interest rate     2.56%  
2.50% senior notes due October 2022 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,500      
Stated interest rate percentage 2.50% 2.50%    
Maturity date Oct. 15, 2022      
Date of issuance Oct. 25, 2012      
Notes payable and other borrowings $ 2,500   $ 2,500  
Effective interest rate 2.51% 2.51% 2.51%  
2.625% senior notes due February 2023 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 2.625% 2.625%    
Maturity date Feb. 15, 2023      
Date of issuance Nov. 09, 2017      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 2.64% 2.64% 2.64%  
3.625% senior notes due July 2023 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,000      
Stated interest rate percentage 3.625% 3.625%    
Maturity date Jul. 23, 2023      
Date of issuance Jul. 16, 2013      
Notes payable and other borrowings $ 1,000   $ 1,000  
Effective interest rate 3.73% 3.73% 3.73%  
2.40% senior notes due September 2023 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,500      
Stated interest rate percentage 2.40% 2.40%    
Maturity date Sep. 15, 2023      
Date of issuance Jul. 07, 2016      
Notes payable and other borrowings $ 2,500   $ 2,500  
Effective interest rate 2.40% 2.40% 2.40%  
3.40% senior notes due July 2024 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,000      
Stated interest rate percentage 3.40% 3.40%    
Maturity date Jul. 08, 2024      
Date of issuance Jul. 08, 2014      
Notes payable and other borrowings $ 2,000   $ 2,000  
Effective interest rate 3.43% 3.43% 3.43%  
2.50% senior notes due April 2025 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,500      
Stated interest rate percentage 2.50% 2.50%    
Maturity date Apr. 01, 2025      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 3,500   $ 3,500  
Effective interest rate 2.51% 2.51% 2.51%  
2.95% senior notes due May 2025 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,500      
Stated interest rate percentage 2.95% 2.95%    
Maturity date May 15, 2025      
Date of issuance May 05, 2015      
Notes payable and other borrowings $ 2,500   $ 2,500  
Effective interest rate 3.00% 3.00% 3.00%  
1.65% senior notes due March 2026 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,750      
Stated interest rate percentage 1.65% 1.65%    
Maturity date Mar. 25, 2026      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 2,750   $ 2,750  
Effective interest rate 1.66% 1.66% 1.66%  
2.95% senior notes due November 2024 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,000      
Stated interest rate percentage 2.95% 2.95%    
Maturity date Nov. 15, 2024      
Date of issuance Nov. 09, 2017      
Notes payable and other borrowings $ 2,000   $ 2,000  
Effective interest rate 2.98% 2.98% 2.98%  
3.125% senior notes due July 2025 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value | €   € 750 [1],[3]   € 750
Stated interest rate percentage 3.125% 3.125%    
Maturity date [1],[3] Jul. 10, 2025      
Date of issuance [1],[3] Jul. 10, 2013      
Notes payable and other borrowings [1],[3] $ 803   $ 916  
Effective interest rate [1],[3] 3.17% 3.17% 3.17%  
2.65% senior notes due July 2026 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,000      
Stated interest rate percentage 2.65% 2.65%    
Maturity date Jul. 15, 2026      
Date of issuance Jul. 07, 2016      
Notes payable and other borrowings $ 3,000   $ 3,000  
Effective interest rate 2.69% 2.69% 2.69%  
2.80% senior notes due April 2027 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,250      
Stated interest rate percentage 2.80% 2.80%    
Maturity date Apr. 01, 2027      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 2,250   $ 2,250  
Effective interest rate 2.83% 2.83% 2.83%  
3.25% senior notes due May 2030 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 500      
Stated interest rate percentage 3.25% 3.25%    
Maturity date May 15, 2030      
Date of issuance May 05, 2015      
Notes payable and other borrowings $ 500   $ 500  
Effective interest rate 3.30% 3.30% 3.30%  
2.30% senior notes due March 2028 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,000      
Stated interest rate percentage 2.30% 2.30%    
Maturity date Mar. 25, 2028      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 2,000   $ 2,000  
Effective interest rate 2.34% 2.34% 2.34%  
4.30% senior notes due July 2034 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,750      
Stated interest rate percentage 4.30% 4.30%    
Maturity date Jul. 08, 2034      
Date of issuance Jul. 08, 2014      
Notes payable and other borrowings $ 1,750   $ 1,750  
Effective interest rate 4.30% 4.30% 4.30%  
3.25% senior notes due November 2027 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,750      
Stated interest rate percentage 3.25% 3.25%    
Maturity date Nov. 15, 2027      
Date of issuance Nov. 09, 2017      
Notes payable and other borrowings $ 2,750   $ 2,750  
Effective interest rate 3.26% 3.26% 3.26%  
2.95% senior notes due April 2030 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,250      
Stated interest rate percentage 2.95% 2.95%    
Maturity date Apr. 01, 2030      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 3,250   $ 3,250  
Effective interest rate 2.96% 2.96% 2.96%  
3.90% senior notes due May 2035 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 3.90% 3.90%    
Maturity date May 15, 2035      
Date of issuance May 05, 2015      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 3.95% 3.95% 3.95%  
3.85% senior notes due July 2036 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 3.85% 3.85%    
Maturity date Jul. 15, 2036      
Date of issuance Jul. 07, 2016      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 3.85% 3.85% 3.85%  
2.875% senior notes due March 2031 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,250      
Stated interest rate percentage 2.875% 2.875%    
Maturity date Mar. 31, 2031      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 3,250   $ 3,250  
Effective interest rate 2.89% 2.89% 2.89%  
6.50% senior notes due April 2038 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 6.50% 6.50%    
Maturity date Apr. 15, 2038      
Date of issuance Apr. 09, 2008      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 6.52% 6.52% 6.52%  
6.125% senior notes due July 2039 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 6.125% 6.125%    
Maturity date Jul. 08, 2039      
Date of issuance Jul. 08, 2009      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 6.19% 6.19% 6.19%  
5.375% senior notes due July 2040 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,250      
Stated interest rate percentage 5.375% 5.375%    
Maturity date Jul. 15, 2040      
Date of issuance Jul. 12, 2010      
Notes payable and other borrowings $ 2,250   $ 2,250  
Effective interest rate 5.45% 5.45% 5.45%  
3.80% senior notes due November 2037 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,750      
Stated interest rate percentage 3.80% 3.80%    
Maturity date Nov. 15, 2037      
Date of issuance Nov. 09, 2017      
Notes payable and other borrowings $ 1,750   $ 1,750  
Effective interest rate 3.83% 3.83% 3.83%  
4.50% senior notes due July 2044 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,000      
Stated interest rate percentage 4.50% 4.50%    
Maturity date Jul. 08, 2044      
Date of issuance Jul. 08, 2014      
Notes payable and other borrowings $ 1,000   $ 1,000  
Effective interest rate 4.50% 4.50% 4.50%  
4.125% senior notes due May 2045 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,000      
Stated interest rate percentage 4.125% 4.125%    
Maturity date May 15, 2045      
Date of issuance May 05, 2015      
Notes payable and other borrowings $ 2,000   $ 2,000  
Effective interest rate 4.15% 4.15% 4.15%  
4.00% senior notes due July 2046 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,000      
Stated interest rate percentage 4.00% 4.00%    
Maturity date Jul. 15, 2046      
Date of issuance Jul. 07, 2016      
Notes payable and other borrowings $ 3,000   $ 3,000  
Effective interest rate 4.00% 4.00% 4.00%  
3.60% senior notes due April 2040 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,000      
Stated interest rate percentage 3.60% 3.60%    
Maturity date Apr. 01, 2040      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 3,000   $ 3,000  
Effective interest rate 3.62% 3.62% 3.62%  
4.375% senior notes due May 2055 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,250      
Stated interest rate percentage 4.375% 4.375%    
Maturity date May 15, 2055      
Date of issuance May 05, 2015      
Notes payable and other borrowings $ 1,250   $ 1,250  
Effective interest rate 4.40% 4.40% 4.40%  
3.65% senior notes due March 2041 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,250      
Stated interest rate percentage 3.65% 3.65%    
Maturity date Mar. 25, 2041      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 2,250   $ 2,250  
Effective interest rate 3.70% 3.70% 3.70%  
4.00% senior notes due November 2047 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 2,250      
Stated interest rate percentage 4.00% 4.00%    
Maturity date Nov. 15, 2047      
Date of issuance Nov. 09, 2017      
Notes payable and other borrowings $ 2,250   $ 2,250  
Effective interest rate 4.03% 4.03% 4.03%  
3.60% senior notes due April 2050 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 4,500      
Stated interest rate percentage 3.60% 3.60%    
Maturity date Apr. 01, 2050      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 4,500   $ 4,500  
Effective interest rate 3.62% 3.62% 3.62%  
3.85% senior notes due April 2060 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,500      
Stated interest rate percentage 3.85% 3.85%    
Maturity date Apr. 01, 2060      
Date of issuance Apr. 01, 2020      
Notes payable and other borrowings $ 3,500   $ 3,500  
Effective interest rate 3.87% 3.87% 3.87%  
3.95% senior notes due March 2051 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 3,250      
Stated interest rate percentage 3.95% 3.95%    
Maturity date Mar. 25, 2051      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 3,250   $ 3,250  
Effective interest rate 3.96% 3.96% 3.96%  
4.10% senior notes due March 2061 [Member]        
Debt Instrument [Line Items]        
Senior notes and other borrowings, par value $ 1,500      
Stated interest rate percentage 4.10% 4.10%    
Maturity date Mar. 25, 2061      
Date of issuance Mar. 31, 2021      
Notes payable and other borrowings $ 1,500   $ 1,500  
Effective interest rate 4.11% 4.11% 4.11%  
Other borrowings due August 2025 [Member]        
Debt Instrument [Line Items]        
Date of issuance Nov. 07, 2016      
Notes payable and other borrowings $ 113   $ 113  
Effective interest rate 3.53% 3.53% 3.53%  
[1] In fiscal 2018 we entered into certain cross-currency interest rate swap agreements that have the economic effect of converting our fixed-rate, Euro-denominated debt, including annual interest payments and the payment of principal at maturity, to a variable-rate, U.S. Dollar-denominated debt of $871 million based on LIBOR. The effective interest rates as of May 31, 2022 and 2021 after consideration of the cross-currency interest rate swap agreements were 4.10% and 3.15%, respectively, for the July 2025 Notes. Refer to Note 1 for a description of our accounting for fair value hedges.
[2] We entered into certain interest rate swap agreements that had the economic effects of modifying the fixed-interest obligations associated with the 2.80% senior notes that were outstanding as of May 31, 2021 and that were due and were settled in July 2021 (July 2021 Notes) so that the interest payable on these notes effectively became variable based on LIBOR. The effective interest rates after consideration of these fixed to variable interest rate swap agreements was 0.87% for the July 2021 Notes as of May 31, 2021. Refer to Note 1 for a description of our accounting for fair value hedges.
[3] In July 2013, we issued €750 million of 3.125% senior notes due July 2025 (July 2025 Notes). Principal and unamortized discount/issuance costs for the July 2025 Notes in the table above were calculated using foreign currency exchange rates, as applicable, as of May 31, 2022 and May 31, 2021, respectively. The July 2025 Notes are registered and trade on the New York Stock Exchange.