Leases (Tables)

12 Months Ended

May 31, 2024

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):

	2024		2023
Operating lease cost	$	3,326	$	3,300
Finance lease cost:
Amortization of right-of-use assets		30		36
Interest on lease liabilities		24		18
Total finance lease cost		54		54
Short-term lease cost		494		531
Variable lease cost		1,714		1,435
Net lease cost	$	5,588	$	5,320

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):

	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	3,319	$	3,207
Operating cash flows paid for interest portion of finance leases		15		15
Financing cash flows paid for principal portion of finance leases		80		94
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,083	$	3,317
Right-of-use assets obtained in exchange for new finance lease liabilities	$	10	$	414

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):

	2024			2023
Operating leases:
Operating lease right-of-use assets, net	$	17,115		$	17,347
Current portion of operating lease liabilities		2,463			2,390
Operating lease liabilities		15,053			15,363
Total operating lease liabilities	$	17,516		$	17,753
Finance leases:
Net property and equipment	$	373		$	821
Current portion of long-term debt		18			75
Long-term debt, less current portion		413			725
Total finance lease liabilities	$	431		$	800
Weighted-average remaining lease term
Operating leases		9.5			9.5
Finance leases		29.8			27.5
Weighted-average discount rate
Operating leases		3.79	%		3.42	%
Finance leases		3.63	%		4.22	%

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, 2024 is as follows (in millions):

	Aircraft and Related Equipment			Facilities and Other			Total Operating Leases			Finance Leases			Total Leases
2025	$	123		$	2,909		$	3,032		$	33		$	3,065
2026		119			2,763			2,882			30			2,912
2027		118			2,455			2,573			22			2,595
2028		118			2,123			2,241			21			2,262
2029		111			1,763			1,874			19			1,893
Thereafter		136			8,411			8,547			630			9,177
Total lease payments		725			20,424			21,149			755			21,904
Less imputed interest		(85	)		(3,548	)		(3,633	)		(324	)		(3,957	)
Present value of lease liability	$	640		$	16,876		$	17,516		$	431		$	17,947