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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2023
May 31, 2022
May 31, 2021
OPERATING ACTIVITIES      
Net income $ 3,972 $ 3,826 $ 5,231
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 4,176 3,970 3,793
Provision for uncollectible accounts 696 403 577
Other noncash items including leases and deferred income tax 3,472 2,931 2,887
Stock-based compensation 182 190 200
Retirement plans mark-to-market adjustments (650) 1,578 (1,176)
Loss on extinguishment of debt     393
Goodwill and other asset impairment charges 117    
Business optimization and realignment costs, net of payments 23 53 102
Changes in assets and liabilities:      
Receivables 782 (310) (1,389)
Other current assets 48 (158) (40)
Pension and postretirement healthcare assets and liabilities, net (623) (697) (317)
Accounts payable and other liabilities (3,331) (1,861) 71
Other, net (16) (93) (197)
Cash provided by operating activities 8,848 9,832 10,135
INVESTING ACTIVITIES      
Capital expenditures (6,174) (6,763) (5,884)
Business acquisitions, net of cash acquired     (228)
Purchase of investments (84) (147)  
Proceeds from asset dispositions and other 84 94 102
Cash used in investing activities (6,174) (6,816) (6,010)
FINANCING ACTIVITIES      
Principal payments on debt (152) (161) (6,318)
Proceeds from debt issuances     4,212
Proceeds from stock issuances 231 184 740
Dividends paid (1,177) (793) (686)
Purchase of treasury stock (1,500) (2,248)  
Other, net 1 (1) (38)
Cash used in financing activities (2,597) (3,019) (2,090)
Effect of exchange rate changes on cash (118) (187) 171
Net (decrease) increase in cash and cash equivalents (41) (190) 2,206
Cash and cash equivalents at beginning of period 6,897 7,087 4,881
Cash and cash equivalents at end of period $ 6,856 $ 6,897 $ 7,087