NIKE, INC., 10-Q filed on 10/7/2024
Quarterly Report
v3.24.3
Cover Page - shares
 3 Months Ended
Aug. 31, 2024
Sep. 30, 2024
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Aug. 31, 2024  
Document Transition Report false  
Entity File Number 1-10635  
Entity Registrant Name NIKE, Inc.  
Entity Incorporation, State or Country Code OR  
Entity Tax Identification Number 93-0584541  
Entity Address, Address Line One One Bowerman Drive  
Entity Address, City or Town Beaverton  
Entity Address, State or Province OR  
Entity Address, Postal Zip Code 97005-6453  
City Area Code 503  
Local Phone Number 671-6453  
Title of 12(b) Security Class B Common Stock  
Trading Symbol NKE  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0000320187  
Current Fiscal Year End Date --05-31  
Class A Common Stock    
Document Information [Line Items]    
Entity Common Stock Shares Outstanding   297,897,252
Class B Common Stock    
Document Information [Line Items]    
Entity Common Stock Shares Outstanding   1,190,598,484
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Income Statement [Abstract]    
Revenues $ 11,589 $ 12,939
Cost of sales 6,332 7,219
Gross profit 5,257 5,720
Demand creation expense 1,226 1,069
Operating overhead expense 2,822 3,047
Total selling and administrative expense 4,048 4,116
Interest expense (income), net (43) (34)
Other (income) expense, net (55) (10)
Income before income taxes 1,307 1,648
Income tax expense 256 198
NET INCOME $ 1,051 $ 1,450
Earnings per common share:    
Basic (in dollars per share) $ 0.70 $ 0.95
Diluted (in dollars per share) $ 0.70 $ 0.94
Weighted average common shares outstanding:    
Basic (in shares) 1,497.7 1,528.4
Diluted (in shares) 1,502.0 1,543.3
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net income $ 1,051 $ 1,450
Other comprehensive income (loss), net of tax:    
Change in net foreign currency translation adjustment 138 36
Change in net gains (losses) on cash flow hedges (227) (134)
Change in net gains (losses) on other 9 3
Total other comprehensive income (loss), net of tax (80) (95)
TOTAL COMPREHENSIVE INCOME $ 971 $ 1,355
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Current assets:    
Cash and equivalents $ 8,485 $ 9,860
Short-term investments 1,809 1,722
Accounts receivable, net 4,764 4,427
Inventories 8,253 7,519
Prepaid expenses and other current assets 1,729 1,854
Total current assets 25,040 25,382
Property, plant and equipment, net 4,948 5,000
Operating lease right-of-use assets, net 2,792 2,718
Identifiable intangible assets, net 259 259
Goodwill 240 240
Deferred income taxes and other assets 4,588 4,511
TOTAL ASSETS 37,867 38,110
Current liabilities:    
Current portion of long-term debt 1,000 1,000
Notes payable 12 6
Accounts payable 3,357 2,851
Current portion of operating lease liabilities 491 477
Accrued liabilities 5,075 5,725
Income taxes payable 693 534
Total current liabilities 10,628 10,593
Long-term debt 7,998 7,903
Operating lease liabilities 2,625 2,566
Deferred income taxes and other liabilities 2,672 2,618
Commitments and contingencies (Note 11)
Redeemable preferred stock 0 0
Shareholders' equity:    
Capital in excess of stated value 13,557 13,409
Accumulated other comprehensive income (loss) (27) 53
Retained earnings 411 965
Total shareholders' equity 13,944 14,430
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 37,867 38,110
Class A Convertible Common Stock    
Shareholders' equity:    
Common stock at stated value 0 0
Class B Common Stock    
Shareholders' equity:    
Common stock at stated value $ 3 $ 3
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares
shares in Millions
Aug. 31, 2024
May 31, 2024
Class A Convertible Common Stock    
Shareholders' equity:    
Common stock, outstanding (in shares) 298 298
Class B Common Stock    
Shareholders' equity:    
Common stock, outstanding (in shares) 1,193 1,205
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Cash provided (used) by operations:    
Net income $ 1,051 $ 1,450
Adjustments to reconcile net income to net cash provided (used) by operations:    
Depreciation 188 191
Deferred income taxes (53) (68)
Stock-based compensation 183 196
Amortization, impairment and other (4) (5)
Net foreign currency adjustments (7) (7)
Changes in certain working capital components and other assets and liabilities:    
(Increase) decrease in accounts receivable (312) (621)
(Increase) decrease in inventories (679) (263)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets (265) (225)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities 292 (714)
Cash provided (used) by operations 394 (66)
Cash provided (used) by investing activities:    
Purchases of short-term investments (968) (1,144)
Maturities of short-term investments 144 778
Sales of short-term investments 778 1,038
Additions to property, plant and equipment (120) (253)
Other investing activities 0 (1)
Cash provided (used) by investing activities (166) 418
Cash provided (used) by financing activities:    
Increase (decrease) in notes payable, net 6 0
Proceeds from exercise of stock options and other stock issuances 131 99
Repurchase of common stock (1,184) (1,133)
Dividends — common and preferred (558) (524)
Other financing activities (17) (41)
Cash provided (used) by financing activities (1,622) (1,599)
Effect of exchange rate changes on cash and equivalents 19 (16)
Net increase (decrease) in cash and equivalents (1,375) (1,263)
Cash and equivalents, beginning of period 9,860 7,441
CASH AND EQUIVALENTS, END OF PERIOD 8,485 6,178
Supplemental disclosure of cash flow information:    
Non-cash additions to property, plant and equipment 48 148
Dividends declared and not paid $ 554 $ 519
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
CAPITAL IN EXCESS OF STATED VALUE
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
RETAINED EARNINGS
Class A Common Stock
Class A Common Stock
COMMON STOCK
Class B Common Stock
Class B Common Stock
COMMON STOCK
Beginning Balance (in shares) at May. 31, 2023           305   1,227
Beginning Balance at May. 31, 2023 $ 14,004 $ 12,412 $ 231 $ 1,358       $ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock options exercised (in shares)               2
Stock options exercised 106 106            
Conversion to Class B Common Stock (in shares)           (7)   7
Repurchase of Class B Common Stock (in shares)               (10)
Repurchase of Class B Common Stock (1,132) (85)   (1,047)        
Dividends on common stock and preferred stock (519)     (519)        
Issuance of shares to employees, net of shares withheld for employee taxes (39) (39)            
Stock-based compensation 196 196            
Net income 1,450     1,450        
Other comprehensive income (loss) (95)   (95)          
Ending Balance (in shares) at Aug. 31, 2023           298   1,226
Ending Balance at Aug. 31, 2023 13,971 12,590 136 1,242       $ 3
Beginning Balance (in shares) at May. 31, 2024         298 298 1,205 1,205
Beginning Balance at May. 31, 2024 14,430 13,409 53 965       $ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock options exercised (in shares)               3
Stock options exercised 124 124            
Repurchase of Class B Common Stock (in shares)               (15)
Repurchase of Class B Common Stock (1,193) (132)   (1,061)        
Dividends on common stock and preferred stock (554)     (554)        
Issuance of shares to employees, net of shares withheld for employee taxes (17) (27)   10        
Stock-based compensation 183 183            
Net income 1,051     1,051        
Other comprehensive income (loss) (80)   (80)          
Ending Balance (in shares) at Aug. 31, 2024         298 298 1,193 1,193
Ending Balance at Aug. 31, 2024 $ 13,944 $ 13,557 $ (27) $ 411       $ 3
v3.24.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Statement of Stockholders' Equity [Abstract]    
Dividends declared per common share (in dollars per share) $ 0.370 $ 0.340
Dividends declared per preferred share (in dollars per share) $ 0.10 $ 0.10
v3.24.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 3 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the "Company" or "NIKE") and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results of operations for the interim period. The year-end Condensed Consolidated Balance Sheet data as of May 31, 2024, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial information and notes thereto should be read in conjunction with the Company's latest Annual Report on Form 10-K for the fiscal year ended May 31, 2024 (the "Annual Report"). The results of operations for the three months ended August 31, 2024, are not necessarily indicative of results to be expected for the entire fiscal year.
RECENTLY ISSUED ACCOUNTING STANDARDS AND DISCLOSURE RULES
In November 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The amendments will require public entities to disclose significant segment expenses regularly provided to the chief operating decision maker and included within segment profit and loss. The amendments are effective for the Company's annual periods beginning June 1, 2024, and interim periods beginning June 1, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company's annual periods beginning June 1, 2025, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.
In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule would require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the final rule as a result of pending and legal challenges. The disclosure requirements would apply to the Company's fiscal year beginning June 1, 2025, pending resolution of the stay. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.
v3.24.3
ACCRUED LIABILITIES
 3 Months Ended
Aug. 31, 2024
Accrued Liabilities, Current [Abstract]  
ACCRUED LIABILITIES
NOTE 2 — ACCRUED LIABILITIES
Accrued liabilities included the following:
AUGUST 31,MAY 31,
(Dollars in millions)20242024
Compensation and benefits, excluding taxes
$1,073 $1,291 
Sales-related reserves1,200 1,282 
Dividends payable559 563 
Endorsement compensation
283 578 
Other1,960 2,011
TOTAL ACCRUED LIABILITIES$5,075 $5,725 
v3.24.3
FAIR VALUE MEASUREMENTS
 3 Months Ended
Aug. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 3 — FAIR VALUE MEASUREMENTS
The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities and available-for-sale debt securities.
The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2024 and May 31, 2024, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2024
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,768 $1,768 $— 
Level 1:
U.S. Treasury securities1,194 13 1,181 
Level 2:
Commercial paper and bonds615 19 596 
Money market funds6,456 6,456 — 
Time deposits236 229 7 
U.S. Agency securities25 — 25 
Total Level 27,332 6,704 628 
TOTAL$10,294 $8,485 $1,809 
MAY 31, 2024
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,222 $1,222 $— 
Level 1:
U.S. Treasury securities1,175 155 1,020 
Level 2:
Commercial paper and bonds591 17 574 
Money market funds8,119 8,119 — 
Time deposits440 347 93 
U.S. Agency securities35 — 35 
Total Level 29,185 8,483 702 
TOTAL$11,582 $9,860 $1,722 
As of August 31, 2024, the Company held $1,038 million of available-for-sale debt securities with maturity dates within one year and $771 million with maturity dates greater than one year and less than five years in Short-term investments on the Unaudited Condensed Consolidated Balance Sheets. The fair value of the Company's available-for-sale debt securities approximates their amortized cost.
Included in Interest expense (income), net was interest income related to the Company's investment portfolio of $120 million and $99 million for the three months ended August 31, 2024 and 2023, respectively.
The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$175 $165 $10 $198 $167 $31 
Interest rate swaps(1)
63 — 63 — — — 
TOTAL
$238 $165 $73 $198 $167 $31 
(1)If the derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $141 million as of August 31, 2024. As of that date, the Company received $34 million of cash collateral and $12 million of securities from various counterparties on the derivative asset balance and posted $45 million cash collateral on the derivative liability balance.
MAY 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$343 $299 $44 $120 $115 $5 
Interest rate swaps(1)
— — — 31 — 31 
TOTAL$343 $299 $44 $151 $115 $36 
(1)If the derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $142 million as of May 31, 2024. As of that date, the Company received $112 million of cash collateral from various counterparties on the derivative asset balance and posted $10 million cash collateral on the derivative liability balance.
For additional information related to the Company's derivative financial instruments and credit risk, refer to Note 7 — Risk Management and Derivatives.
The carrying amounts of other current financial assets and other current financial liabilities approximate fair value.
FINANCIAL ASSETS AND LIABILITIES NOT RECORDED AT FAIR VALUE
The Company's Long-term debt is recorded at adjusted cost, net of unamortized premiums, discounts, debt issuance costs and interest rate swap fair value adjustments. The fair value of long-term debt is estimated based upon quoted prices for similar instruments or quoted prices for identical instruments in inactive markets (Level 2). The fair value of the Company's Long-term debt was approximately $7,932 million at August 31, 2024 and $7,631 million at May 31, 2024.
v3.24.3
INCOME TAXES
 3 Months Ended
Aug. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE 4 — INCOME TAXES
The effective tax rate was 19.6% and 12.0% for the three months ended August 31, 2024 and 2023, respectively. The increase in the Company's effective tax rate was primarily due to a one-time benefit recognized in the first three months of fiscal 2024 from the impact of temporary relief provided by the Internal Revenue Service ("IRS") relating to U.S. foreign tax credit regulations. On July 21, 2023, the IRS issued Notice 2023-55 which specifically delayed the application of certain U.S. foreign tax credit regulations that had previously limited the Company's ability to claim credits on certain foreign taxes for the fiscal year ended May 31, 2023. As a result of this guidance, the Company recognized a one-time tax benefit related to fiscal 2023 tax positions in the first three months of fiscal 2024.
The Organization for Economic Co-operation and Development (OECD) and the G20 Inclusive Framework on Base Erosion and Profit Shifting (the “Inclusive Framework”) have put forth Pillar Two proposals that ensure a minimal level of taxation. Several countries in which the Company operates, including several European Union member states, have adopted domestic legislation to implement the Inclusive Framework’s global corporate minimum tax rate of fifteen percent. This legislation became effective for the Company beginning June 1, 2024. Based on the Company’s current analysis of Pillar Two provisions, these tax law changes did not have a material impact on the Company's financial statements for the first three months of fiscal 2025 and are not expected to for fiscal 2025.
As of August 31, 2024, total gross unrecognized tax benefits, excluding related interest and penalties, were $999 million, $709 million of which would affect the Company's effective tax rate if recognized in future periods. The majority of the total gross unrecognized tax benefits are long-term in nature and included within Deferred income taxes and other liabilities on the Unaudited Condensed Consolidated Balance Sheets. As of May 31, 2024, total gross unrecognized tax benefits, excluding related interest and penalties, were $990 million. As of August 31, 2024 and May 31, 2024, accrued interest and penalties related to uncertain tax positions were $346 million and $332 million, respectively, (excluding federal benefit) and included within Deferred income taxes and other liabilities on the Unaudited Condensed Consolidated Balance Sheets.
The Company is subject to taxation in the U.S., as well as various state and foreign jurisdictions. The Company is currently under audit by the U.S. IRS for fiscal years 2017 through 2019. The Company has closed all U.S. federal income tax matters through fiscal 2016, with the exception of certain transfer pricing adjustments.
Tax years after 2011 remain open in certain major foreign jurisdictions. Although the timing of resolution of audits is not certain, the Company evaluates all domestic and foreign audit issues in the aggregate, along with the expiration of applicable statutes of limitations, and estimates that it is reasonably possible the total gross unrecognized tax benefits could decrease by up to $20 million within the next 12 months.
In January 2019, the European Commission opened a formal investigation to examine whether the Netherlands has breached State Aid rules when granting certain tax rulings to the Company. The Company believes the investigation is without merit. If this matter is adversely resolved, the Netherlands may be required to assess additional amounts with respect to prior periods, and the Company's income taxes related to prior periods in the Netherlands could increase.
v3.24.3
STOCK-BASED COMPENSATION
 3 Months Ended
Aug. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
STOCK-BASED COMPENSATION
NOTE 5 — STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION
The NIKE, Inc. Stock Incentive Plan (the "Stock Incentive Plan") provides for the issuance of up to 798 million previously unissued shares of Class B Common Stock in connection with equity awards granted under the Stock Incentive Plan. The Stock Incentive Plan authorizes the grant of non-statutory stock options, incentive stock options, stock appreciation rights and stock awards, including restricted stock and restricted stock units. Restricted stock units include both time-vesting restricted stock units ("RSUs") as well as performance-based restricted stock units ("PSUs"). In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount from the market price under employee stock purchase plans ("ESPPs").
The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable: 
 THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
Stock options(1)
$71 $76 
ESPPs13 21 
Restricted stock and restricted stock units(1)(2)
99 99 
TOTAL STOCK-BASED COMPENSATION EXPENSE$183 $196 
(1)Expense for stock options includes the expense associated with stock appreciation rights.
(2)Expense for restricted stock units includes an immaterial amount of expense for PSUs.
STOCK OPTIONS
As of August 31, 2024, the Company had $324 million of unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.4 years.
RESTRICTED STOCK AND RESTRICTED STOCK UNITS
As of August 31, 2024, the Company had $517 million of unrecognized compensation costs from restricted stock and restricted stock units, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.3 years.
v3.24.3
EARNINGS PER SHARE
 3 Months Ended
Aug. 31, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 6 — EARNINGS PER SHARE
The following is a reconciliation from basic earnings per common share to diluted earnings per common share. The computations of diluted earnings per common share exclude restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an estimated additional 61.1 million and 33.7 million shares of common stock outstanding for the three months ended August 31, 2024 and 2023, respectively, because the awards were assumed to be anti-dilutive.
 THREE MONTHS ENDED AUGUST 31,
(In millions, except per share data)
20242023
Net income available to common stockholders$1,051 $1,450 
Determination of shares:
Weighted average common shares outstanding1,497.7 1,528.4 
Assumed conversion of dilutive stock options and awards4.3 14.9 
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING1,502.0 1,543.3 
Earnings per common share:
Basic$0.70 $0.95 
Diluted$0.70 $0.94 
v3.24.3
RISK MANAGEMENT AND DERIVATIVES
 3 Months Ended
Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
RISK MANAGEMENT AND DERIVATIVES
NOTE 7 — RISK MANAGEMENT AND DERIVATIVES
The Company is exposed to global market risks, including the effect of changes in foreign currency exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. As of and for the three months ended August 31, 2024, there have been no material changes to the Company's hedging program or strategy from what was disclosed within the Annual Report.
The majority of derivatives outstanding as of August 31, 2024, are designated as foreign currency cash flow hedges, primarily for Euro/U.S. Dollar, British Pound/Euro, Chinese Yuan/U.S. Dollar and Japanese Yen/U.S. Dollar currency pairs. All derivatives are recognized on the Unaudited Condensed Consolidated Balance Sheets at fair value and classified based on the instrument's maturity date.
The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:
 DERIVATIVE ASSETS
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets$139 $269 
Foreign exchange forwards and optionsDeferred income taxes and other assets10 44 
Interest rate swaps
Deferred income taxes and other assets
63 — 
Total derivatives formally designated as hedging instruments212 313 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets26 30 
Total derivatives not designated as hedging instruments26 30 
TOTAL DERIVATIVE ASSETS$238 $343 
DERIVATIVE LIABILITIES
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities$161 $110 
Foreign exchange forwards and optionsDeferred income taxes and other liabilities31 5 
Interest rate swaps
Deferred income taxes and other liabilities
— 31 
Total derivatives formally designated as hedging instruments192 146 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities6 5 
Total derivatives not designated as hedging instruments6 5 
TOTAL DERIVATIVE LIABILITIES$198 $151 
The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income:

(Dollars in millions)
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES(1)
AMOUNT OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE
INCOME (LOSS) INTO INCOME(1)
THREE MONTHS ENDED AUGUST 31,LOCATION OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE INCOME
(LOSS) INTO INCOME		THREE MONTHS ENDED AUGUST 31,
2024202320242023
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options$(44)$(18)Revenues$(21)$1 
Foreign exchange forwards and options(98)(2)Cost of sales70 86 
Foreign exchange forwards and options— — Demand creation expense— — 
Foreign exchange forwards and options(29)(10)Other (income) expense, net30 35 
Interest rate swaps(2)
— — Interest expense (income), net(2)(2)
TOTAL DESIGNATED CASH FLOW HEDGES $(171)$(30)$77 $120 
(1)For the three months ended August 31, 2024 and 2023, the amounts recorded in Other (income) expense, net as a result of the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial.
(2)Gains and losses associated with terminated interest rate swaps, which were previously designated as cash flow hedges and recorded in Accumulated other comprehensive income (loss), will be released through Interest expense (income), net over the term of the issued debt.

AMOUNT OF GAIN (LOSS) RECOGNIZED
IN INCOME ON DERIVATIVES		LOCATION OF GAIN (LOSS)
RECOGNIZED IN INCOME
ON DERIVATIVES
THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options
$— $(27)Other (income) expense, net
CASH FLOW HEDGES
The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was approximately $16.6 billion and $16.2 billion as of August 31, 2024 and May 31, 2024, respectively. Approximately $63 million of deferred net gains (net of tax) on both outstanding and matured derivatives in Accumulated other comprehensive income (loss) as of August 31, 2024, are expected to be reclassified to Net income during the next 12 months concurrent with the underlying hedged transactions also being recorded in Net income. Actual amounts ultimately reclassified to Net income are dependent on the exchange rates in effect when derivative contracts currently outstanding mature. As of August 31, 2024, the maximum term over which the Company hedges exposures to the variability of cash flows for its forecasted transactions was 27 months.
FAIR VALUE HEDGES
The total notional amount of outstanding interest rate swap contracts designated as fair value hedges was $1.8 billion as of August 31, 2024 and May 31, 2024.
UNDESIGNATED DERIVATIVE INSTRUMENTS
The total notional amount of outstanding undesignated derivative instruments was $3.8 billion and $4.4 billion as of August 31, 2024 and May 31, 2024, respectively.
CREDIT RISK
As of August 31, 2024, the Company was in compliance with all credit risk-related contingent features and considers the impact of the risk of counterparty default to be immaterial. For additional information related to the Company's derivative financial instruments and collateral, refer to Note 3 — Fair Value Measurements
v3.24.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Aug. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 8 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The changes in Accumulated other comprehensive income (loss), net of tax, were as follows:
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)
CASH FLOW HEDGES
NET INVESTMENT HEDGES(1)
OTHERTOTAL
Balance at May 31, 2024$(256)$247 $115 $(53)$53 
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)
137 (151)— 7 (7)
Reclassifications to net income of previously deferred (gains) losses(2)(3)
1 (76)— 2 (73)
Total other comprehensive income (loss)138 (227)— 9 (80)
Balance at August 31, 2024$(118)$20 $115 $(44)$(27)
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)Net of immaterial tax impact.
(3)Reclassifications to net income of previously deferred (gains) losses are recorded within Other (income) expense, net for foreign currency translation adjustment, net investment hedges, and other.
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)
CASH FLOW HEDGES
NET INVESTMENT HEDGES(1)
OTHERTOTAL
Balance at May 31, 2023$(253)$431 $115 $(62)$231 
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)
36 (23)— — 13 
Reclassifications to net income of previously deferred (gains) losses(2)(3)
— (111)— 3 (108)
Total other comprehensive income (loss)36 (134)— 3 (95)
Balance at August 31, 2023$(217)$297 $115 $(59)$136 
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)Net of immaterial tax impact.
(3)Reclassifications to net income of previously deferred (gains) losses are recorded within Other (income) expense, net for foreign currency translation adjustment, net investment hedges, and other.
For additional information related to the Company's cash flow hedges refer to Note 7 — Risk Management and Derivatives.
v3.24.3
REVENUES
 3 Months Ended
Aug. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 9 — REVENUES
DISAGGREGATION OF REVENUES
The following tables present the Company's Revenues disaggregated by reportable operating segment, major product line and distribution channel:
THREE MONTHS ENDED AUGUST 31, 2024
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINAASIA PACIFIC & LATIN AMERICAGLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$3,212 $1,952 $1,246 $1,052 $— $7,462 $436 $— $7,898 
Apparel1,331 993 360 348 — 3,032 17 — 3,049 
Equipment283 198 60 62 — 603 12 — 615 
Other— — — — 14 14 36 (23)27 
TOTAL REVENUES$4,826 $3,143 $1,666 $1,462 $14 $11,111 $501 $(23)$11,589 
Revenues by:
Sales to Wholesale Customers$2,475 $2,074 $971 $890 $— $6,410 $275 $— $6,685 
Sales through Direct to Consumer2,351 1,069 695 572 — 4,687 190 — 4,877 
Other— — — — 14 14 36 (23)27 
TOTAL REVENUES$4,826 $3,143 $1,666 $1,462 $14 $11,111 $501 $(23)$11,589 

THREE MONTHS ENDED AUGUST 31, 2023
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINAASIA PACIFIC & LATIN AMERICAGLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$3,733 $2,260 $1,287 $1,141 $— $8,421 $522 $— $8,943 
Apparel1,479 1,137 401 371 — 3,388 20 — 3,408 
Equipment211 213 47 60 — 531 11 — 542 
Other— — — — 13 13 35 (2)46 
TOTAL REVENUES$5,423 $3,610 $1,735 $1,572 $13 $12,353 $588 $(2)$12,939 
Revenues by:
Sales to Wholesale Customers$2,772 $2,379 $895 $937 $— $6,983 $329 $— $7,312 
Sales through Direct to Consumer2,651 1,231 840 635 — 5,357 224 — 5,581 
Other— — — — 13 13 35 (2)46 
TOTAL REVENUES$5,423 $3,610 $1,735 $1,572 $13 $12,353 $588 $(2)$12,939 
Global Brand Divisions revenues included NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Converse Other revenues were primarily attributable to licensing businesses. Corporate revenues primarily consisted of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company's central foreign exchange risk management program.
As of August 31, 2024 and May 31, 2024, the Company did not have any contract assets and had an immaterial amount of contract liabilities recorded in Accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets.
v3.24.3
OPERATING SEGMENTS
 3 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
OPERATING SEGMENTS
NOTE 10 — OPERATING SEGMENTS
The Company's operating segments are evidence of the structure of the Company's internal organization. The NIKE Brand segments are defined by geographic regions for operations participating in NIKE Brand sales activity.
Each NIKE Brand geographic segment operates predominantly in one industry: the design, development, marketing and selling of athletic footwear, apparel and equipment. The Company's reportable operating segments for the NIKE Brand are: North America; Europe, Middle East & Africa ("EMEA"); Greater China; and Asia Pacific & Latin America ("APLA"), and include results for the NIKE and Jordan brands.
The Company's NIKE Direct operations are managed within each NIKE Brand geographic operating segment. Converse is also a reportable segment for the Company and operates in one industry: the design, marketing, licensing and selling of athletic lifestyle sneakers, apparel and accessories.
Global Brand Divisions is included within the NIKE Brand for presentation purposes to align with the way management views the Company. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Global Brand Divisions costs represent demand creation and operating overhead expense that include product creation and design expenses centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology.
Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses.
The primary financial measure used by the Company to evaluate performance of individual operating segments is earnings before interest and taxes ("EBIT"), which represents Net income before Interest expense (income), net, and Income taxes in the Unaudited Condensed Consolidated Statements of Income.
As part of the Company's centrally managed foreign exchange risk management program, standard foreign currency rates are assigned twice per year to each NIKE Brand entity in the Company's geographic operating segments and to Converse. These rates are set approximately nine and twelve months in advance of the future selling seasons to which they relate (specifically, for each currency, one standard rate applies to the fall and holiday selling seasons, and one standard rate applies to the spring and summer selling seasons) based on average market spot rates in the calendar month preceding the date they are established. Inventories and Cost of sales for geographic operating segments and Converse reflect the use of these standard rates to record non-functional currency product purchases in the entity's functional currency. Differences between assigned standard foreign currency rates and actual market rates are included in Corporate, together with foreign currency hedge gains and losses generated from the Company's centrally managed foreign exchange risk management program and other conversion gains and losses.
Accounts receivable, net, Inventories and Property, plant and equipment, net for operating segments are regularly reviewed by management and are therefore provided below.
 THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
REVENUES
North America$4,826 $5,423 
Europe, Middle East & Africa3,143 3,610 
Greater China1,666 1,735 
Asia Pacific & Latin America1,462 1,572 
Global Brand Divisions14 13 
Total NIKE Brand11,111 12,353 
Converse501 588 
Corporate(23)(2)
TOTAL NIKE, INC. REVENUES$11,589 $12,939 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,216 $1,434 
Europe, Middle East & Africa792 930 
Greater China502 525 
Asia Pacific & Latin America402 414 
Global Brand Divisions(1,227)(1,205)
Converse121 167 
Corporate(542)(651)
Interest expense (income), net(43)(34)
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,307 $1,648 
AUGUST 31,MAY 31,
(Dollars in millions)
20242024
ACCOUNTS RECEIVABLE, NET
North America$1,730 $1,723 
Europe, Middle East & Africa1,466 1,239 
Greater China426 327 
Asia Pacific & Latin America793 792 
Global Brand Divisions103 103 
Total NIKE Brand4,518 4,184 
Converse226 201 
Corporate20 42 
TOTAL ACCOUNTS RECEIVABLE, NET$4,764 $4,427 
INVENTORIES
North America$3,519 $3,134 
Europe, Middle East & Africa2,064 2,028 
Greater China1,234 1,070 
Asia Pacific & Latin America977 810 
Global Brand Divisions158 166 
Total NIKE Brand7,952 7,208 
Converse313 296 
Corporate(12)15 
TOTAL INVENTORIES(1)
$8,253 $7,519 
(1)Inventories as of August 31, 2024 and May 31, 2024, were substantially all finished goods.
AUGUST 31,MAY 31,
(Dollars in millions)
20242024
PROPERTY, PLANT AND EQUIPMENT, NET
North America$716 $744 
Europe, Middle East & Africa1,121 1,089 
Greater China252 258 
Asia Pacific & Latin America
292 282 
Global Brand Divisions807 842 
Total NIKE Brand3,188 3,215 
Converse23 27 
Corporate1,737 1,758 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,948 $5,000 
v3.24.3
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Aug. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
NOTE 11 — COMMITMENTS AND CONTINGENCIES
In the ordinary course of business, the Company is subject to various legal proceedings, claims and government investigations relating to its business, products and actions of its employees and representatives, including contractual and employment relationships, product liability, antitrust, customs, tax, intellectual property and other matters. The outcome of these legal matters is inherently uncertain, and the Company cannot predict the eventual outcome of currently pending matters, the timing of their ultimate resolution or the eventual losses, fines, penalties or consequences relating to those matters. When a loss related to a legal proceeding or claim is probable and reasonably estimable, the Company accrues its best estimate for the ultimate resolution of the matter. If one or more legal matters were to be resolved against the Company in a reporting period for amounts above management's expectations, the Company's financial position, operating results and cash flows for that reporting period could be materially adversely affected. In the opinion of management, based on its current knowledge and after consultation with counsel, the Company does not believe any currently pending legal matters will have a material adverse impact on the Company's results of operations, financial position or cash flows, except as described below.
BELGIAN CUSTOMS CLAIM
The Company has received claims for certain years from Belgian Customs and other government authorities for alleged underpaid duties related to products imported beginning in fiscal 2018. The Company disputes these claims and has engaged in the appellate process. The Company has issued bank guarantees in order to appeal the claims. At this time, the Company is unable to estimate the range of loss and cannot predict the final outcome as it could take several years to reach a resolution on this matter. If this matter is ultimately resolved against the Company, the amounts owed, including fines, penalties and other consequences relating to the matter, could have a material adverse effect on the Company's results of operations, financial position and cash flows.
v3.24.3
RESTRUCTURING
 3 Months Ended
Aug. 31, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING
NOTE 12 — RESTRUCTURING
During the third quarter of fiscal 2024, the Company announced a multi-year enterprise initiative designed to accelerate its future growth. As part of this initiative, management streamlined the organization which resulted in a net reduction in the Company's global workforce. During the three months ended August 31, 2024, the Company recognized an immaterial amount of pre-tax restructuring charges and made cash payments, primarily related to employee severance, of $217 million. Cash payments related to the restructuring are expected to be substantially paid by the end of the first half of fiscal 2025. As of August 31, 2024 and May 31, 2024, the amounts within Accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets related to the pre-tax restructuring charges were $56 million and $267 million, respectively
v3.24.3
SUPPLIER FINANCE PROGRAMS
 3 Months Ended
Aug. 31, 2024
Payables and Accruals [Abstract]  
SUPPLIER FINANCE PROGRAMS
NOTE 13 — SUPPLIER FINANCE PROGRAMS
Certain financial institutions offer voluntary supplier finance programs facilitated through a third-party platform that provide participating suppliers the option to finance valid payment obligations from the Company. The Company is not a party to agreements negotiated between participating suppliers and third-party financial institutions. The Company's obligations to its suppliers, including amounts due and payment terms, are not affected by a supplier's decision to participate in these programs and the Company does not provide guarantees to third parties in connection with these programs. As of August 31, 2024 and May 31, 2024, the Company had $970 million and $840 million, respectively, of outstanding supplier obligations confirmed as valid under these programs. These amounts are included within Accounts payable on the Unaudited Condensed Consolidated Balance Sheets.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Pay vs Performance Disclosure    
Net income $ 1,051 $ 1,450
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Aug. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 3 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
BASIS OF PRESENTATION
The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the "Company" or "NIKE") and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results of operations for the interim period. The year-end Condensed Consolidated Balance Sheet data as of May 31, 2024, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial information and notes thereto should be read in conjunction with the Company's latest Annual Report on Form 10-K for the fiscal year ended May 31, 2024 (the "Annual Report"). The results of operations for the three months ended August 31, 2024, are not necessarily indicative of results to be expected for the entire fiscal year.
RECENTLY ISSUED ACCOUNTING STANDARDS AND DISCLOSURE RULES
In November 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The amendments will require public entities to disclose significant segment expenses regularly provided to the chief operating decision maker and included within segment profit and loss. The amendments are effective for the Company's annual periods beginning June 1, 2024, and interim periods beginning June 1, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company's annual periods beginning June 1, 2025, with early adoption permitted, and may be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company's disclosures.
In March 2024, the U.S. Securities and Exchange Commission ("SEC") adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule would require registrants to disclose certain climate-related information in registration statements and annual reports. In April 2024, the SEC voluntarily stayed the final rule as a result of pending and legal challenges. The disclosure requirements would apply to the Company's fiscal year beginning June 1, 2025, pending resolution of the stay. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.
FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities and available-for-sale debt securities.
v3.24.3
ACCRUED LIABILITIES (Tables)
 3 Months Ended
Aug. 31, 2024
Accrued Liabilities, Current [Abstract]  
Schedule of Accrued Liabilities
Accrued liabilities included the following:
AUGUST 31,MAY 31,
(Dollars in millions)20242024
Compensation and benefits, excluding taxes
$1,073 $1,291 
Sales-related reserves1,200 1,282 
Dividends payable559 563 
Endorsement compensation
283 578 
Other1,960 2,011
TOTAL ACCRUED LIABILITIES$5,075 $5,725 
v3.24.3
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Aug. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2024 and May 31, 2024, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2024
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,768 $1,768 $— 
Level 1:
U.S. Treasury securities1,194 13 1,181 
Level 2:
Commercial paper and bonds615 19 596 
Money market funds6,456 6,456 — 
Time deposits236 229 7 
U.S. Agency securities25 — 25 
Total Level 27,332 6,704 628 
TOTAL$10,294 $8,485 $1,809 
MAY 31, 2024
(Dollars in millions)
ASSETS AT FAIR VALUECASH AND EQUIVALENTSSHORT-TERM INVESTMENTS
Cash$1,222 $1,222 $— 
Level 1:
U.S. Treasury securities1,175 155 1,020 
Level 2:
Commercial paper and bonds591 17 574 
Money market funds8,119 8,119 — 
Time deposits440 347 93 
U.S. Agency securities35 — 35 
Total Level 29,185 8,483 702 
TOTAL$11,582 $9,860 $1,722 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$175 $165 $10 $198 $167 $31 
Interest rate swaps(1)
63 — 63 — — — 
TOTAL
$238 $165 $73 $198 $167 $31 
(1)If the derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $141 million as of August 31, 2024. As of that date, the Company received $34 million of cash collateral and $12 million of securities from various counterparties on the derivative asset balance and posted $45 million cash collateral on the derivative liability balance.
MAY 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$343 $299 $44 $120 $115 $5 
Interest rate swaps(1)
— — — 31 — 31 
TOTAL$343 $299 $44 $151 $115 $36 
(1)If the derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $142 million as of May 31, 2024. As of that date, the Company received $112 million of cash collateral from various counterparties on the derivative asset balance and posted $10 million cash collateral on the derivative liability balance.
The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:
 DERIVATIVE ASSETS
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets$139 $269 
Foreign exchange forwards and optionsDeferred income taxes and other assets10 44 
Interest rate swaps
Deferred income taxes and other assets
63 — 
Total derivatives formally designated as hedging instruments212 313 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets26 30 
Total derivatives not designated as hedging instruments26 30 
TOTAL DERIVATIVE ASSETS$238 $343 
DERIVATIVE LIABILITIES
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities$161 $110 
Foreign exchange forwards and optionsDeferred income taxes and other liabilities31 5 
Interest rate swaps
Deferred income taxes and other liabilities
— 31 
Total derivatives formally designated as hedging instruments192 146 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities6 5 
Total derivatives not designated as hedging instruments6 5 
TOTAL DERIVATIVE LIABILITIES$198 $151 
v3.24.3
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Aug. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Share-based Compensation Arrangements by Share-based Payment Award
The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable: 
 THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
Stock options(1)
$71 $76 
ESPPs13 21 
Restricted stock and restricted stock units(1)(2)
99 99 
TOTAL STOCK-BASED COMPENSATION EXPENSE$183 $196 
(1)Expense for stock options includes the expense associated with stock appreciation rights.
(2)Expense for restricted stock units includes an immaterial amount of expense for PSUs.
v3.24.3
EARNINGS PER SHARE (Tables)
 3 Months Ended
Aug. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following is a reconciliation from basic earnings per common share to diluted earnings per common share. The computations of diluted earnings per common share exclude restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an estimated additional 61.1 million and 33.7 million shares of common stock outstanding for the three months ended August 31, 2024 and 2023, respectively, because the awards were assumed to be anti-dilutive.
 THREE MONTHS ENDED AUGUST 31,
(In millions, except per share data)
20242023
Net income available to common stockholders$1,051 $1,450 
Determination of shares:
Weighted average common shares outstanding1,497.7 1,528.4 
Assumed conversion of dilutive stock options and awards4.3 14.9 
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING1,502.0 1,543.3 
Earnings per common share:
Basic$0.70 $0.95 
Diluted$0.70 $0.94 
v3.24.3
RISK MANAGEMENT AND DERIVATIVES (Tables)
 3 Months Ended
Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:
AUGUST 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$175 $165 $10 $198 $167 $31 
Interest rate swaps(1)
63 — 63 — — — 
TOTAL
$238 $165 $73 $198 $167 $31 
(1)If the derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $141 million as of August 31, 2024. As of that date, the Company received $34 million of cash collateral and $12 million of securities from various counterparties on the derivative asset balance and posted $45 million cash collateral on the derivative liability balance.
MAY 31, 2024
DERIVATIVE ASSETSDERIVATIVE LIABILITIES
(Dollars in millions)
ASSETS AT FAIR VALUEOTHER CURRENT ASSETSOTHER LONG-TERM ASSETSLIABILITIES AT FAIR VALUEACCRUED LIABILITIESOTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)
$343 $299 $44 $120 $115 $5 
Interest rate swaps(1)
— — — 31 — 31 
TOTAL$343 $299 $44 $151 $115 $36 
(1)If the derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $142 million as of May 31, 2024. As of that date, the Company received $112 million of cash collateral from various counterparties on the derivative asset balance and posted $10 million cash collateral on the derivative liability balance.
The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:
 DERIVATIVE ASSETS
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets$139 $269 
Foreign exchange forwards and optionsDeferred income taxes and other assets10 44 
Interest rate swaps
Deferred income taxes and other assets
63 — 
Total derivatives formally designated as hedging instruments212 313 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsPrepaid expenses and other current assets26 30 
Total derivatives not designated as hedging instruments26 30 
TOTAL DERIVATIVE ASSETS$238 $343 
DERIVATIVE LIABILITIES
BALANCE SHEET LOCATIONAUGUST 31,MAY 31,
(Dollars in millions)
20242024
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities$161 $110 
Foreign exchange forwards and optionsDeferred income taxes and other liabilities31 5 
Interest rate swaps
Deferred income taxes and other liabilities
— 31 
Total derivatives formally designated as hedging instruments192 146 
Derivatives not designated as hedging instruments:
Foreign exchange forwards and optionsAccrued liabilities6 5 
Total derivatives not designated as hedging instruments6 5 
TOTAL DERIVATIVE LIABILITIES$198 $151 
Schedule of Derivative Instruments, Gain (Loss) In Statement of Income
The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income:

(Dollars in millions)
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES(1)
AMOUNT OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE
INCOME (LOSS) INTO INCOME(1)
THREE MONTHS ENDED AUGUST 31,LOCATION OF GAIN (LOSS)
RECLASSIFIED FROM ACCUMULATED
OTHER COMPREHENSIVE INCOME
(LOSS) INTO INCOME		THREE MONTHS ENDED AUGUST 31,
2024202320242023
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options$(44)$(18)Revenues$(21)$1 
Foreign exchange forwards and options(98)(2)Cost of sales70 86 
Foreign exchange forwards and options— — Demand creation expense— — 
Foreign exchange forwards and options(29)(10)Other (income) expense, net30 35 
Interest rate swaps(2)
— — Interest expense (income), net(2)(2)
TOTAL DESIGNATED CASH FLOW HEDGES $(171)$(30)$77 $120 
(1)For the three months ended August 31, 2024 and 2023, the amounts recorded in Other (income) expense, net as a result of the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial.
(2)Gains and losses associated with terminated interest rate swaps, which were previously designated as cash flow hedges and recorded in Accumulated other comprehensive income (loss), will be released through Interest expense (income), net over the term of the issued debt.

AMOUNT OF GAIN (LOSS) RECOGNIZED
IN INCOME ON DERIVATIVES		LOCATION OF GAIN (LOSS)
RECOGNIZED IN INCOME
ON DERIVATIVES
THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options
$— $(27)Other (income) expense, net
v3.24.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Aug. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in Accumulated other comprehensive income (loss), net of tax, were as follows:
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)
CASH FLOW HEDGES
NET INVESTMENT HEDGES(1)
OTHERTOTAL
Balance at May 31, 2024$(256)$247 $115 $(53)$53 
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)
137 (151)— 7 (7)
Reclassifications to net income of previously deferred (gains) losses(2)(3)
1 (76)— 2 (73)
Total other comprehensive income (loss)138 (227)— 9 (80)
Balance at August 31, 2024$(118)$20 $115 $(44)$(27)
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)Net of immaterial tax impact.
(3)Reclassifications to net income of previously deferred (gains) losses are recorded within Other (income) expense, net for foreign currency translation adjustment, net investment hedges, and other.
(Dollars in millions)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)
CASH FLOW HEDGES
NET INVESTMENT HEDGES(1)
OTHERTOTAL
Balance at May 31, 2023$(253)$431 $115 $(62)$231 
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)
36 (23)— — 13 
Reclassifications to net income of previously deferred (gains) losses(2)(3)
— (111)— 3 (108)
Total other comprehensive income (loss)36 (134)— 3 (95)
Balance at August 31, 2023$(217)$297 $115 $(59)$136 
(1)The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity.
(2)Net of immaterial tax impact.
(3)Reclassifications to net income of previously deferred (gains) losses are recorded within Other (income) expense, net for foreign currency translation adjustment, net investment hedges, and other.
v3.24.3
REVENUES (Tables)
 3 Months Ended
Aug. 31, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables present the Company's Revenues disaggregated by reportable operating segment, major product line and distribution channel:
THREE MONTHS ENDED AUGUST 31, 2024
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINAASIA PACIFIC & LATIN AMERICAGLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$3,212 $1,952 $1,246 $1,052 $— $7,462 $436 $— $7,898 
Apparel1,331 993 360 348 — 3,032 17 — 3,049 
Equipment283 198 60 62 — 603 12 — 615 
Other— — — — 14 14 36 (23)27 
TOTAL REVENUES$4,826 $3,143 $1,666 $1,462 $14 $11,111 $501 $(23)$11,589 
Revenues by:
Sales to Wholesale Customers$2,475 $2,074 $971 $890 $— $6,410 $275 $— $6,685 
Sales through Direct to Consumer2,351 1,069 695 572 — 4,687 190 — 4,877 
Other— — — — 14 14 36 (23)27 
TOTAL REVENUES$4,826 $3,143 $1,666 $1,462 $14 $11,111 $501 $(23)$11,589 

THREE MONTHS ENDED AUGUST 31, 2023
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINAASIA PACIFIC & LATIN AMERICAGLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$3,733 $2,260 $1,287 $1,141 $— $8,421 $522 $— $8,943 
Apparel1,479 1,137 401 371 — 3,388 20 — 3,408 
Equipment211 213 47 60 — 531 11 — 542 
Other— — — — 13 13 35 (2)46 
TOTAL REVENUES$5,423 $3,610 $1,735 $1,572 $13 $12,353 $588 $(2)$12,939 
Revenues by:
Sales to Wholesale Customers$2,772 $2,379 $895 $937 $— $6,983 $329 $— $7,312 
Sales through Direct to Consumer2,651 1,231 840 635 — 5,357 224 — 5,581 
Other— — — — 13 13 35 (2)46 
TOTAL REVENUES$5,423 $3,610 $1,735 $1,572 $13 $12,353 $588 $(2)$12,939 
v3.24.3
OPERATING SEGMENTS (Tables)
 3 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
 THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20242023
REVENUES
North America$4,826 $5,423 
Europe, Middle East & Africa3,143 3,610 
Greater China1,666 1,735 
Asia Pacific & Latin America1,462 1,572 
Global Brand Divisions14 13 
Total NIKE Brand11,111 12,353 
Converse501 588 
Corporate(23)(2)
TOTAL NIKE, INC. REVENUES$11,589 $12,939 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,216 $1,434 
Europe, Middle East & Africa792 930 
Greater China502 525 
Asia Pacific & Latin America402 414 
Global Brand Divisions(1,227)(1,205)
Converse121 167 
Corporate(542)(651)
Interest expense (income), net(43)(34)
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,307 $1,648 
Reconciliation of Assets from Segment to Consolidated
AUGUST 31,MAY 31,
(Dollars in millions)
20242024
ACCOUNTS RECEIVABLE, NET
North America$1,730 $1,723 
Europe, Middle East & Africa1,466 1,239 
Greater China426 327 
Asia Pacific & Latin America793 792 
Global Brand Divisions103 103 
Total NIKE Brand4,518 4,184 
Converse226 201 
Corporate20 42 
TOTAL ACCOUNTS RECEIVABLE, NET$4,764 $4,427 
INVENTORIES
North America$3,519 $3,134 
Europe, Middle East & Africa2,064 2,028 
Greater China1,234 1,070 
Asia Pacific & Latin America977 810 
Global Brand Divisions158 166 
Total NIKE Brand7,952 7,208 
Converse313 296 
Corporate(12)15 
TOTAL INVENTORIES(1)
$8,253 $7,519 
(1)Inventories as of August 31, 2024 and May 31, 2024, were substantially all finished goods.
AUGUST 31,MAY 31,
(Dollars in millions)
20242024
PROPERTY, PLANT AND EQUIPMENT, NET
North America$716 $744 
Europe, Middle East & Africa1,121 1,089 
Greater China252 258 
Asia Pacific & Latin America
292 282 
Global Brand Divisions807 842 
Total NIKE Brand3,188 3,215 
Converse23 27 
Corporate1,737 1,758 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,948 $5,000 
v3.24.3
ACCRUED LIABILITIES (Details) - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Accrued Liabilities, Current [Abstract]    
Compensation and benefits, excluding taxes $ 1,073 $ 1,291
Sales-related reserves 1,200 1,282
Dividends payable 559 563
Endorsement compensation 283 578
Other 1,960 2,011
TOTAL ACCRUED LIABILITIES $ 5,075 $ 5,725
v3.24.3
FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Assets, Fair Value Disclosure [Abstract]    
SHORT-TERM INVESTMENTS $ 1,809 $ 1,722
Fair Value, Measurements, Recurring    
Assets, Fair Value Disclosure [Abstract]    
Cash 1,768 1,222
ASSETS AT FAIR VALUE 10,294 11,582
CASH AND EQUIVALENTS 8,485 9,860
SHORT-TERM INVESTMENTS 1,809 1,722
Reduction in derivative liabilities if netted 141 142
Reduction in derivative assets if netted 141 142
Sales-related reserves   112
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | U.S. Treasury securities    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 1,194 1,175
CASH AND EQUIVALENTS 13 155
SHORT-TERM INVESTMENTS 1,181 1,020
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 7,332 9,185
CASH AND EQUIVALENTS 6,704 8,483
SHORT-TERM INVESTMENTS 628 702
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Commercial paper and bonds    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 615 591
CASH AND EQUIVALENTS 19 17
SHORT-TERM INVESTMENTS 596 574
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Money market funds    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 6,456 8,119
CASH AND EQUIVALENTS 6,456 8,119
SHORT-TERM INVESTMENTS 0 0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Time deposits    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 236 440
CASH AND EQUIVALENTS 229 347
SHORT-TERM INVESTMENTS 7 93
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | U.S. Agency securities    
Assets, Fair Value Disclosure [Abstract]    
ASSETS AT FAIR VALUE 25 35
CASH AND EQUIVALENTS 0 0
SHORT-TERM INVESTMENTS $ 25 $ 35
v3.24.3
FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
May 31, 2024
Fair Value Disclosures [Abstract]      
Available-for-sale securities with maturity dates within one year from purchase date $ 1,038    
Available-for-sale securities with maturity dates over one year and less than five years from purchase date 771    
Interest income related to cash and equivalents and short-term investments 120 $ 99  
Fair value of long term debt $ 7,932   $ 7,631
v3.24.3
FAIR VALUE MEASUREMENTS - Derivative Assets and Liabilities at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
DERIVATIVE ASSETS    
ASSETS AT FAIR VALUE $ 238 $ 343
OTHER CURRENT ASSETS 165 299
OTHER LONG-TERM ASSETS 73 44
DERIVATIVE LIABILITIES    
LIABILITIES AT FAIR VALUE 198 151
ACCRUED LIABILITIES 167 115
OTHER LONG-TERM LIABILITIES 31 36
Reduction in derivative liabilities if netted 141 142
Reduction in derivative assets if netted 141 142
Cash collateral from counterparties related to derivative instruments   112
Fair value of derivative liability collateral 45 10
Cash    
DERIVATIVE LIABILITIES    
Cash collateral from counterparties related to derivative instruments 34  
Debt Securities    
DERIVATIVE LIABILITIES    
Cash collateral from counterparties related to derivative instruments 12  
Foreign exchange forwards and options | Fair Value, Inputs, Level 2    
DERIVATIVE ASSETS    
ASSETS AT FAIR VALUE 175 343
OTHER CURRENT ASSETS 165 299
OTHER LONG-TERM ASSETS 10 44
DERIVATIVE LIABILITIES    
LIABILITIES AT FAIR VALUE 198 120
ACCRUED LIABILITIES 167 115
OTHER LONG-TERM LIABILITIES 31 5
Interest rate swaps | Fair Value, Inputs, Level 2    
DERIVATIVE ASSETS    
ASSETS AT FAIR VALUE 63 0
OTHER CURRENT ASSETS 0 0
OTHER LONG-TERM ASSETS 63 0
DERIVATIVE LIABILITIES    
LIABILITIES AT FAIR VALUE 0 31
ACCRUED LIABILITIES 0 0
OTHER LONG-TERM LIABILITIES $ 0 $ 31
v3.24.3
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
May 31, 2024
Income Tax Disclosure [Abstract]      
Effective income tax rate 19.60% 12.00%  
Total gross unrecognized tax benefits, excluding related interest and penalties $ 999   $ 990
Total gross unrecognized tax benefits, excluding related interest and penalties, amount which would affect the Company's effective tax rate if recognized in future periods 709    
Accrued interest and penalties related to uncertain tax positions (excluding federal benefit) 346   $ 332
Estimated decrease in total gross unrecognized tax benefits as a result of resolutions of global tax examinations and expiration of applicable statutes of limitations $ 20    
v3.24.3
STOCK-BASED COMPENSATION - Stock-Based Compensation (Details)
Aug. 31, 2024
shares
Stock Incentive Plan | Class B Common Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Shares available for grant (in shares) 798,000,000
v3.24.3
STOCK-BASED COMPENSATION - Total Stock-Based Compensation Expense (Details) - Class B Common Stock - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense $ 183 $ 196
Stock Options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense 71 76
ESPPs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense 13 21
Restricted stock and restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock-based compensation expense $ 99 $ 99
v3.24.3
STOCK-BASED COMPENSATION - Stock Options (Details) - Stock Options - Stock Incentive Plan
$ in Millions
 3 Months Ended
Aug. 31, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized compensation costs from stock options $ 324
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period 2 years 4 months 24 days
v3.24.3
STOCK-BASED COMPENSATION - Restricted Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units
$ in Millions
 3 Months Ended
Aug. 31, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized compensation costs from restricted stock, net of estimated forfeitures $ 517
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period 2 years 3 months 18 days
v3.24.3
EARNINGS PER SHARE - Additional Information (Details) - shares
shares in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Stock Options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Anti-dilutive options not included in the computation of diluted earnings per share (in shares) 61.1 33.7
v3.24.3
EARNINGS PER SHARE - Reconciliation from Basic Earnings Per Share to Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Earnings Per Share [Abstract]    
Net income available to common stockholders $ 1,051 $ 1,450
Determination of shares:    
Weighted average common shares outstanding (in shares) 1,497.7 1,528.4
Assumed conversion of dilutive stock options and awards (in shares) 4.3 14.9
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares) 1,502.0 1,543.3
Earnings per common share:    
Basic (in dollars per share) $ 0.70 $ 0.95
Diluted (in dollars per share) $ 0.70 $ 0.94
v3.24.3
RISK MANAGEMENT AND DERIVATIVES - FV of Derivative Instruments Included within Consolidated Balance Sheet (Details) - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS $ 238 $ 343
DERIVATIVE LIABILITIES 198 151
Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 212 313
DERIVATIVE LIABILITIES 192 146
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 26 30
DERIVATIVE LIABILITIES 6 5
Prepaid expenses and other current assets | Foreign exchange forwards and options | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 139 269
Prepaid expenses and other current assets | Foreign exchange forwards and options | Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 26 30
Deferred income taxes and other assets | Foreign exchange forwards and options | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 10 44
Deferred income taxes and other assets | Interest rate swaps | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE ASSETS 63 0
Accrued liabilities | Foreign exchange forwards and options | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE LIABILITIES 161 110
Accrued liabilities | Foreign exchange forwards and options | Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE LIABILITIES 6 5
Deferred income taxes and other liabilities | Foreign exchange forwards and options | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE LIABILITIES 31 5
Deferred income taxes and other liabilities | Interest rate swaps | Derivatives formally designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
DERIVATIVE LIABILITIES $ 0 $ 31
v3.24.3
RISK MANAGEMENT AND DERIVATIVES - Amounts Affecting Consolidated Statements of Income (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Derivatives designated as cash flow hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES $ (171) $ (30)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME $ 77 $ 120
Foreign exchange forwards and options    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Foreign exchange forwards and options | Derivatives not designated as hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED 
IN INCOME ON DERIVATIVES $ 0 $ (27)
Foreign exchange forwards and options | Derivatives designated as cash flow hedges | Revenues    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES (44) (18)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME (21) 1
Foreign exchange forwards and options | Derivatives designated as cash flow hedges | Cost of sales    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES (98) (2)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME 70 86
Foreign exchange forwards and options | Derivatives designated as cash flow hedges | Demand creation expense    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES 0 0
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME 0 0
Foreign exchange forwards and options | Derivatives designated as cash flow hedges | Other (income) expense, net    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES (29) (10)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME 30 35
Interest rate swaps | Derivatives designated as cash flow hedges | Interest expense (income), net    
Derivative Instruments, Gain (Loss) [Line Items]    
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER 
COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES 0 0
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME $ (2) $ (2)
v3.24.3
RISK MANAGEMENT AND DERIVATIVES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
May 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Deferred net gains (net of tax) expected to be reclassified to Net Income during the next 12 months $ 63  
Maximum term over which the company hedges exposures to the variability of cash flows for its forecasted transactions 27 months  
Derivatives designated as cash flow hedges | Derivatives formally designated as hedging instruments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total notional amount of outstanding derivatives $ 16,600 $ 16,200
Derivatives designated as cash flow hedges | Derivatives not designated as hedging instruments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total notional amount of outstanding derivatives 3,800 4,400
Fair Value Hedging | Derivatives formally designated as hedging instruments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total notional amount of outstanding derivatives $ 1,800 $ 1,800
v3.24.3
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance $ 14,430 $ 14,004
Other comprehensive income (loss):    
Other comprehensive gains (losses) before reclassifications (7) 13
Reclassifications to net income of previously deferred (gains) losses (73) (108)
Total other comprehensive income (loss), net of tax (80) (95)
Ending Balance 13,944 13,971
TOTAL    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance 53 231
Other comprehensive income (loss):    
Total other comprehensive income (loss), net of tax (80) (95)
Ending Balance (27) 136
FOREIGN CURRENCY TRANSLATION ADJUSTMENT    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance (256) (253)
Other comprehensive income (loss):    
Other comprehensive gains (losses) before reclassifications 137 36
Reclassifications to net income of previously deferred (gains) losses 1 0
Total other comprehensive income (loss), net of tax 138 36
Ending Balance (118) (217)
CASH FLOW HEDGES    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance 247 431
Other comprehensive income (loss):    
Other comprehensive gains (losses) before reclassifications (151) (23)
Reclassifications to net income of previously deferred (gains) losses (76) (111)
Total other comprehensive income (loss), net of tax (227) (134)
Ending Balance 20 297
NET INVESTMENT HEDGES    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance 115 115
Other comprehensive income (loss):    
Other comprehensive gains (losses) before reclassifications 0 0
Reclassifications to net income of previously deferred (gains) losses 0 0
Total other comprehensive income (loss), net of tax 0 0
Ending Balance 115 115
OTHER    
Increase (Decrease) in Stockholders' Equity [Roll Forward]    
Beginning Balance (53) (62)
Other comprehensive income (loss):    
Other comprehensive gains (losses) before reclassifications 7 0
Reclassifications to net income of previously deferred (gains) losses 2 3
Total other comprehensive income (loss), net of tax 9 3
Ending Balance $ (44) $ (59)
v3.24.3
REVENUES (Details) - USD ($)
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
May 31, 2024
Disaggregation of Revenue [Line Items]      
Revenues $ 11,589,000,000 $ 12,939,000,000  
Contract asset 0   $ 0
Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 6,685,000,000 7,312,000,000  
Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 4,877,000,000 5,581,000,000  
Other      
Disaggregation of Revenue [Line Items]      
Revenues 27,000,000 46,000,000  
Footwear      
Disaggregation of Revenue [Line Items]      
Revenues 7,898,000,000 8,943,000,000  
Apparel      
Disaggregation of Revenue [Line Items]      
Revenues 3,049,000,000 3,408,000,000  
Equipment      
Disaggregation of Revenue [Line Items]      
Revenues 615,000,000 542,000,000  
Other      
Disaggregation of Revenue [Line Items]      
Revenues 27,000,000 46,000,000  
Operating Segments | NIKE Brand      
Disaggregation of Revenue [Line Items]      
Revenues 11,111,000,000 12,353,000,000  
Operating Segments | NIKE Brand | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 6,410,000,000 6,983,000,000  
Operating Segments | NIKE Brand | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 4,687,000,000 5,357,000,000  
Operating Segments | NIKE Brand | Other      
Disaggregation of Revenue [Line Items]      
Revenues 14,000,000 13,000,000  
Operating Segments | NIKE Brand | NORTH AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 4,826,000,000 5,423,000,000  
Operating Segments | NIKE Brand | NORTH AMERICA | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 2,475,000,000 2,772,000,000  
Operating Segments | NIKE Brand | NORTH AMERICA | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 2,351,000,000 2,651,000,000  
Operating Segments | NIKE Brand | NORTH AMERICA | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA      
Disaggregation of Revenue [Line Items]      
Revenues 3,143,000,000 3,610,000,000  
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 2,074,000,000 2,379,000,000  
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 1,069,000,000 1,231,000,000  
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | NIKE Brand | GREATER CHINA      
Disaggregation of Revenue [Line Items]      
Revenues 1,666,000,000 1,735,000,000  
Operating Segments | NIKE Brand | GREATER CHINA | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 971,000,000 895,000,000  
Operating Segments | NIKE Brand | GREATER CHINA | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 695,000,000 840,000,000  
Operating Segments | NIKE Brand | GREATER CHINA | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 1,462,000,000 1,572,000,000  
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 890,000,000 937,000,000  
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 572,000,000 635,000,000  
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA | Other      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | CONVERSE      
Disaggregation of Revenue [Line Items]      
Revenues 501,000,000 588,000,000  
Operating Segments | CONVERSE | Sales to Wholesale Customers      
Disaggregation of Revenue [Line Items]      
Revenues 275,000,000 329,000,000  
Operating Segments | CONVERSE | Sales through Direct to Consumer      
Disaggregation of Revenue [Line Items]      
Revenues 190,000,000 224,000,000  
Operating Segments | CONVERSE | Other      
Disaggregation of Revenue [Line Items]      
Revenues 36,000,000 35,000,000  
Operating Segments | Footwear | NIKE Brand      
Disaggregation of Revenue [Line Items]      
Revenues 7,462,000,000 8,421,000,000  
Operating Segments | Footwear | NIKE Brand | NORTH AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 3,212,000,000 3,733,000,000  
Operating Segments | Footwear | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA      
Disaggregation of Revenue [Line Items]      
Revenues 1,952,000,000 2,260,000,000  
Operating Segments | Footwear | NIKE Brand | GREATER CHINA      
Disaggregation of Revenue [Line Items]      
Revenues 1,246,000,000 1,287,000,000  
Operating Segments | Footwear | NIKE Brand | ASIA PACIFIC & LATIN AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 1,052,000,000 1,141,000,000  
Operating Segments | Footwear | CONVERSE      
Disaggregation of Revenue [Line Items]      
Revenues 436,000,000 522,000,000  
Operating Segments | Apparel | NIKE Brand      
Disaggregation of Revenue [Line Items]      
Revenues 3,032,000,000 3,388,000,000  
Operating Segments | Apparel | NIKE Brand | NORTH AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 1,331,000,000 1,479,000,000  
Operating Segments | Apparel | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA      
Disaggregation of Revenue [Line Items]      
Revenues 993,000,000 1,137,000,000  
Operating Segments | Apparel | NIKE Brand | GREATER CHINA      
Disaggregation of Revenue [Line Items]      
Revenues 360,000,000 401,000,000  
Operating Segments | Apparel | NIKE Brand | ASIA PACIFIC & LATIN AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 348,000,000 371,000,000  
Operating Segments | Apparel | CONVERSE      
Disaggregation of Revenue [Line Items]      
Revenues 17,000,000 20,000,000  
Operating Segments | Equipment | NIKE Brand      
Disaggregation of Revenue [Line Items]      
Revenues 603,000,000 531,000,000  
Operating Segments | Equipment | NIKE Brand | NORTH AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 283,000,000 211,000,000  
Operating Segments | Equipment | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA      
Disaggregation of Revenue [Line Items]      
Revenues 198,000,000 213,000,000  
Operating Segments | Equipment | NIKE Brand | GREATER CHINA      
Disaggregation of Revenue [Line Items]      
Revenues 60,000,000 47,000,000  
Operating Segments | Equipment | NIKE Brand | ASIA PACIFIC & LATIN AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 62,000,000 60,000,000  
Operating Segments | Equipment | CONVERSE      
Disaggregation of Revenue [Line Items]      
Revenues 12,000,000 11,000,000  
Operating Segments | Other | NIKE Brand      
Disaggregation of Revenue [Line Items]      
Revenues 14,000,000 13,000,000  
Operating Segments | Other | NIKE Brand | NORTH AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | Other | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | Other | NIKE Brand | GREATER CHINA      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | Other | NIKE Brand | ASIA PACIFIC & LATIN AMERICA      
Disaggregation of Revenue [Line Items]      
Revenues 0 0  
Operating Segments | Other | CONVERSE      
Disaggregation of Revenue [Line Items]      
Revenues 36,000,000 35,000,000  
Global Brand Divisions      
Disaggregation of Revenue [Line Items]      
Revenues 14,000,000 13,000,000  
Global Brand Divisions | Other      
Disaggregation of Revenue [Line Items]      
Revenues 14,000,000 13,000,000  
Global Brand Divisions | Other      
Disaggregation of Revenue [Line Items]      
Revenues 14,000,000 13,000,000  
Corporate      
Disaggregation of Revenue [Line Items]      
Revenues (23,000,000) (2,000,000)  
Corporate | Other      
Disaggregation of Revenue [Line Items]      
Revenues (23,000,000) (2,000,000)  
Corporate | Other      
Disaggregation of Revenue [Line Items]      
Revenues $ (23,000,000) $ (2,000,000)  
v3.24.3
OPERATING SEGMENTS - Information by Operating Segments (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues $ 11,589 $ 12,939
Interest expense (income), net (43) (34)
Income before income taxes 1,307 1,648
Operating Segments | NIKE Brand    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 11,111 12,353
Operating Segments | NIKE Brand | NORTH AMERICA    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 4,826 5,423
EARNINGS BEFORE INTEREST AND TAXES 1,216 1,434
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 3,143 3,610
EARNINGS BEFORE INTEREST AND TAXES 792 930
Operating Segments | NIKE Brand | GREATER CHINA    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 1,666 1,735
EARNINGS BEFORE INTEREST AND TAXES 502 525
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 1,462 1,572
EARNINGS BEFORE INTEREST AND TAXES 402 414
Operating Segments | CONVERSE    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 501 588
EARNINGS BEFORE INTEREST AND TAXES 121 167
Global Brand Divisions    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues 14 13
EARNINGS BEFORE INTEREST AND TAXES (1,227) (1,205)
Corporate    
Segment Reporting, Revenue Reconciling Item [Line Items]    
Revenues (23) (2)
EARNINGS BEFORE INTEREST AND TAXES $ (542) $ (651)
v3.24.3
OPERATING SEGMENTS - Accounts Receivable Net Inventories and Property Plant and Equipment Net by Operating Segments (Details) - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net $ 4,764 $ 4,427
Inventories 8,253 7,519
Property, plant and equipment, net 4,948 5,000
Operating Segments | NIKE Brand    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 4,518 4,184
Inventories 7,952 7,208
Property, plant and equipment, net 3,188 3,215
Operating Segments | NIKE Brand | NORTH AMERICA    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 1,730 1,723
Inventories 3,519 3,134
Property, plant and equipment, net 716 744
Operating Segments | NIKE Brand | EUROPE, MIDDLE EAST & AFRICA    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 1,466 1,239
Inventories 2,064 2,028
Property, plant and equipment, net 1,121 1,089
Operating Segments | NIKE Brand | GREATER CHINA    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 426 327
Inventories 1,234 1,070
Property, plant and equipment, net 252 258
Operating Segments | NIKE Brand | ASIA PACIFIC & LATIN AMERICA    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 793 792
Inventories 977 810
Property, plant and equipment, net 292 282
Operating Segments | CONVERSE    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 226 201
Inventories 313 296
Property, plant and equipment, net 23 27
Global Brand Divisions    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 103 103
Inventories 158 166
Property, plant and equipment, net 807 842
Corporate    
Segment Reporting, Asset Reconciling Item [Line Items]    
Accounts receivable, net 20 42
Inventories (12) 15
Property, plant and equipment, net $ 1,737 $ 1,758
v3.24.3
RESTRUCTURING (Details) - USD ($)
$ in Millions
 3 Months Ended
Aug. 31, 2024
May 31, 2024
Restructuring and Related Activities [Abstract]    
Payments for Restructuring $ (217)  
Pre-tax restructuring charges $ 56 $ 267
v3.24.3
SUPPLIER FINANCE PROGRAMS (Details) - USD ($)
$ in Millions
Aug. 31, 2024
May 31, 2024
Payables and Accruals [Abstract]    
Outstanding supplier obligations, current $ 970 $ 840