Leases (Tables)

12 Months Ended

May 31, 2023

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):

	2023		2022
Operating lease cost	$	3,300	$	3,100
Finance lease cost:
Amortization of right-of-use assets		36		26
Interest on lease liabilities		18		16
Total finance lease cost		54		42
Short-term lease cost		531		556
Variable lease cost		1,435		1,368
Net lease cost	$	5,320	$	5,066

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):

	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	3,207	$	2,981
Operating cash flows paid for interest portion of finance leases		15		15
Financing cash flows paid for principal portion of finance leases		94		99
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,317	$	3,489
Right-of-use assets obtained in exchange for new finance lease liabilities	$	414	$	56

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):

	2023			2022
Operating leases:
Operating lease right-of-use assets, net	$	17,347		$	16,613
Current portion of operating lease liabilities		2,390			2,443
Operating lease liabilities		15,363			14,487
Total operating lease liabilities	$	17,753		$	16,930
Finance leases:
Net property and equipment	$	821		$	455
Current portion of long-term debt		75			32
Long-term debt, less current portion		725			436
Total finance lease liabilities	$	800		$	468
Weighted-average remaining lease term
Operating leases		9.5			9.8
Finance leases		27.5			30.8
Weighted-average discount rate
Operating leases		3.42	%		2.85	%
Finance leases		4.22	%		3.45	%

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, 2023 is as follows (in millions):

	Aircraft and Related Equipment			Facilities and Other			Total Operating Leases			Finance Leases			Total Leases
2024	$	103		$	2,790		$	2,893		$	104		$	2,997
2025		84			2,708			2,792			52			2,844
2026		82			2,419			2,501			46			2,547
2027		81			2,137			2,218			37			2,255
2028		81			1,836			1,917			37			1,954
Thereafter		90			8,411			8,501			1,207			9,708
Total lease payments		521			20,301			20,822			1,483			22,305
Less imputed interest		(35	)		(3,034	)		(3,069	)		(683	)		(3,752	)
Present value of lease liability	$	486		$	17,267		$	17,753		$	800		$	18,553