Identifiable Intangible Assets and Goodwill

12 Months Ended

May 31, 2021

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, 2021 and 2020:

	MAY 31,
	2021						2020
(Dollars in millions)	GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		NET CARRYING AMOUNT		GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		NET CARRYING AMOUNT
Indefinite-lived trademarks	$	246	$	—	$	246	$	246	$	—	$	246
Acquired trademarks and other	50		27		23		47		19		28
IDENTIFIABLE INTANGIBLE ASSETS, NET	$	296	$	27	$	269	$	293	$	19	$	274

Goodwill was $242 million and $223 million as of May 31, 2021 and 2020, respectively, and there were no accumulated impairment losses as of May 31, 2021 and 2020. Additionally, the impact to Goodwill during fiscal 2021 and 2020 as a result of acquisitions and divestitures was not material.