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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2021
May 31, 2020
May 31, 2019
OPERATING ACTIVITIES      
Net income $ 5,231 $ 1,286 $ 540
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 3,793 3,615 3,353
Provision for uncollectible accounts 577 442 295
Other noncash items including leases and deferred income tax 2,887 2,449 (233)
Stock-based compensation 200 168 174
Retirement plans mark-to-market adjustments (1,176) 794 3,882
Loss on extinguishment of debt 393    
Gain from sale of business     (8)
Business realignment costs 102   101
Goodwill and other asset impairment charges   435  
Changes in assets and liabilities:      
Receivables (1,389) (1,331) (873)
Other current assets (40) (59) (25)
Pension and postretirement healthcare assets and liabilities, net (317) (908) (909)
Accounts payable and other liabilities 71 (1,787) (571)
Other, net (197) (7) (113)
Cash provided by operating activities 10,135 5,097 5,613
INVESTING ACTIVITIES      
Capital expenditures (5,884) (5,868) (5,490)
Business acquisitions, net of cash acquired (228)   (66)
Proceeds from asset dispositions and other 102 22 83
Cash used in investing activities (6,010) (5,846) (5,473)
FINANCING ACTIVITIES      
Payments on debt (6,318) (2,548) (1,436)
Proceeds from debt issuances 4,212 6,556 2,463
Proceeds from stock issuances 740 64 101
Dividends paid (686) (679) (683)
Purchase of treasury stock   (3) (1,480)
Other, net (38) (9) (4)
Cash (used in) provided by financing activities (2,090) 3,381 (1,039)
Effect of exchange rate changes on cash 171 (70) (47)
Net increase (decrease) in cash and cash equivalents 2,206 2,562 (946)
Cash and cash equivalents at beginning of period 4,881 2,319 3,265
Cash and cash equivalents at end of period $ 7,087 $ 4,881 $ 2,319