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Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2020

Stock Based Compensation Tables [Abstract]

Our total stock-based compensation expense for the years ended May 31 was as follows (in millions):

		2020				2019				2018
Stock-based compensation expense		$	168			$	174			$	167

Schedule of Stock Based Compensation Key Assumptions for Valuation

The following table includes the weighted-average Black-Scholes value of our stock option grants, the intrinsic value of options exercised (in millions) and the key weighted-average assumptions used in the valuation calculations for options granted during the years ended May 31, followed by a discussion of our methodology for developing each of the assumptions used in the valuation model:

	2020			2019			2018
Weighted-average Black-Scholes value	$	33.97		$	61.42		$	55.72
Intrinsic value of options exercised	$	44		$	122		$	359
Black-Scholes Assumptions:
Expected lives	6.4 years			6.4 years			6.5 years
Expected volatility		23	%		21	%		23	%
Risk-free interest rate		1.91	%		2.94	%		2.07	%
Dividend yield		1.630	%		0.935	%		0.796	%

Schedule of Stock Option Activity

The following table summarizes information regarding stock option activity for the year ended May 31, 2020:

	Stock Options
	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value (in millions)⁽¹⁾
Outstanding at June 1, 2019		13,622,515		$	166.89
Granted		3,839,144			159.77
Exercised		(763,104	)		83.70
Forfeited		(573,810	)		192.34
Outstanding at May 31, 2020		16,124,745		$	167.79		6.2	$	118
Exercisable		9,654,040		$	154.19		4.7	$	118
Expected to vest		5,975,696		$	188.09		8.4	$	—
Available for future grants		27,415,296

⁽¹⁾	Only presented for options with market value at May 31, 2020 in excess of the exercise price of the option.

Schedule of Vested and Unvested Restricted Stock

The following table summarizes information regarding vested and unvested restricted stock for the year ended May 31, 2020:

	Restricted Stock
	Shares			Weighted- Average Grant Date Fair Value
Unvested at June 1, 2019		324,478		$	217.76
Granted		207,012			158.58
Vested		(154,449	)		200.84
Forfeited		(5,351	)		197.07
Unvested at May 31, 2020		371,690		$	192.19

Schedule of Stock Option Vesting

Stock option vesting during the years ended May 31 was as follows:

	Stock Options
	Vested during the year		Fair value (in millions)
2020		2,073,310	$	99
2019		2,249,301	$	115
2018		2,465,493	$	112