Restructuring

12 Months Ended

May 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring

NOTE 19 — RESTRUCTURING

In fiscal 2021, the Company substantially completed a series of leadership and operating model changes to streamline and speed up the strategic execution of the Consumer Direct Acceleration.

For the fiscal year ended May 31, 2021, the Company recognized employee termination costs of $214 million and $35 million within Operating overhead expense and Cost of sales, respectively, and made cash payments of $212 million. Additionally, the related stock-based compensation expense recorded within Operating overhead expense and Cost of sales was $41 million and $4 million, respectively.

These costs were classified within Corporate.