Leases (Tables)

12 Months Ended

May 31, 2022

Leases [Abstract]

Summary of Components of Net Lease Cost

The following table is a summary of the components of net lease cost for the period ended May 31 (in millions):

	2022		2021
Operating lease cost	$	3,100	$	2,848
Finance lease cost:
Amortization of right-of-use assets		26		23
Interest on lease liabilities		16		17
Total finance lease cost		42		40
Short-term lease cost		556		387
Variable lease cost		1,368		1,318
Net lease cost	$	5,066	$	4,593

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the period ended May 31 is as follows (in millions):

	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	2,981	$	2,750
Operating cash flows paid for interest portion of finance leases		15		16
Financing cash flows paid for principal portion of finance leases		99		75
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,489	$	3,703
Right-of-use assets obtained in exchange for new finance lease liabilities	$	56	$	126

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases as of May 31 is as follows (dollars in millions):

	2022			2021
Operating leases:
Operating lease right-of-use assets, net	$	16,613		$	15,383
Current portion of operating lease liabilities		2,443			2,208
Operating lease liabilities		14,487			13,375
Total operating lease liabilities	$	16,930		$	15,583
Finance leases:
Net property and equipment	$	455		$	504
Current portion of long-term debt		32			96
Long-term debt, less current portion		436			429
Total finance lease liabilities	$	468		$	525
Weighted-average remaining lease term
Operating leases		9.8			9.9
Finance leases		30.8			30.1
Weighted-average discount rate
Operating leases		2.85	%		2.94	%
Finance leases		3.45	%		3.43	%

Summary of Future Minimum Lease Payments, Operating and Finance Leases

A summary of future minimum lease payments under noncancelable operating and finance leases with an initial or remaining term in excess of one year at May 31, 2022 is as follows (in millions):

	Aircraft and Related Equipment			Facilities and Other			Total Operating Leases			Finance Leases			Total Leases
2023	$	198		$	2,621		$	2,819		$	47		$	2,866
2024		117			2,445			2,562			35			2,597
2025		86			2,179			2,265			27			2,292
2026		79			1,919			1,998			22			2,020
2027		78			1,676			1,754			21			1,775
Thereafter		164			7,831			7,995			669			8,664
Total lease payments		722			18,671			19,393			821			20,214
Less imputed interest		(54	)		(2,409	)		(2,463	)		(353	)		(2,816	)
Present value of lease liability	$	668		$	16,262		$	16,930		$	468		$	17,398