Identifiable Intangible Assets and Goodwill

12 Months Ended

May 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Identifiable Intangible Assets and Goodwill

NOTE 4 — IDENTIFIABLE INTANGIBLE ASSETS AND GOODWILL

Identifiable intangible assets, net consist of indefinite-lived trademarks, acquired trademarks and other intangible assets. The following table summarizes the Company's Identifiable intangible assets, net balances as of May 31, 2020 and 2019:

	MAY 31,
	2020						2019
(Dollars in millions)	GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		NET CARRYING AMOUNT		GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		NET CARRYING AMOUNT
Indefinite-lived trademarks	$	246	$	—	$	246	$	281	$	—	$	281
Acquired trademarks and other	47		19		28		22		20		2
IDENTIFIABLE INTANGIBLE ASSETS, NET	$	293	$	19	$	274	$	303	$	20	$	283

Goodwill was $223 million and $154 million at May 31, 2020 and 2019, respectively and there were no accumulated impairment losses as of May 31, 2020 and 2019. Additionally, the impact to Goodwill during fiscal 2020 and 2019 as a result of acquisitions and divestitures was not material.