Accumulated Other Comprehensive Income

12 Months Ended

May 31, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

NOTE 10: ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table provides changes in AOCI, net of tax, reported in the consolidated financial statements for the years ended May 31 (in millions; amounts in parentheses indicate debits to AOCI):

	2022			2021			2020
Foreign currency translation loss:
Balance at beginning of period	$	(785	)	$	(1,207	)	$	(954	)
Translation adjustments		(363	)		422			(254	)
Reclassification to retained earnings due to the adoption of ASU 2018-02		—			—			1
Balance at end of period		(1,148	)		(785	)		(1,207	)
Retirement plans adjustments:
Balance at beginning of period		53			60			89
Prior service cost arising during period		—			—			3
Reclassifications from AOCI		(8	)		(7	)		(82	)
Reclassification to retained earnings due to the adoption of ASU 2018-02		—			—			50
Balance at end of period		45			53			60
Accumulated other comprehensive loss at end of period	$	(1,103	)	$	(732	)	$	(1,147	)

The following table presents details of the reclassifications from AOCI for the years ended May 31 (in millions; amounts in parentheses indicate debits to earnings):

	Amount Reclassified from AOCI									Affected Line Item in the Income Statement
	2022			2021			2020
Amortization of retirement plans prior service    credits and other, before tax	$	10		$	10		$	107		Other retirement plans (expense) income
Income tax benefit		(2	)		(3	)		(25	)	Provision for income taxes
AOCI reclassifications, net of tax	$	8		$	7		$	82		Net income