Accumulated Other Comprehensive Income

12 Months Ended

May 31, 2021

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income

NOTE 10: ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table provides changes in AOCI, net of tax, reported in the consolidated financial statements for the years ended May 31 (in millions; amounts in parentheses indicate debits to AOCI):

	2021			2020			2019
Foreign currency translation loss:
Balance at beginning of period	$	(1,207	)	$	(954	)	$	(759	)
Translation adjustments		422			(254	)		(195	)
Reclassification to retained earnings due to the adoption of ASU 2018-02		—			1			—
Balance at end of period		(785	)		(1,207	)		(954	)
Retirement plans adjustments:
Balance at beginning of period		60			89			181
Prior service cost (credit) arising during period		—			3			—
Reclassifications from AOCI		(7	)		(82	)		(92	)
Reclassification to retained earnings due to the adoption of ASU 2018-02		—			50			—
Balance at end of period		53			60			89
Accumulated other comprehensive loss at end of period	$	(732	)	$	(1,147	)	$	(865	)

The following table presents details of the reclassifications from AOCI for the years ended May 31 (in millions; amounts in parentheses indicate debits to earnings):

	Amount Reclassified from AOCI									Affected Line Item in the Income Statement
	2021			2020			2019
Amortization of retirement plans prior service    credits, before tax	$	10		$	107		$	120		Other retirement plans income (expense)
Income tax benefit		(3	)		(25	)		(28	)	Provision for income taxes
AOCI reclassifications, net of tax	$	7		$	82		$	92		Net income