Cover Page - shares	3 Months Ended
Cover Page - shares	Aug. 31, 2021	Sep. 28, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2021
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
Entity Central Index Key	0000320187
Current Fiscal Year End Date	--05-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Convertible Common Stock
Document Information [Line Items]
Entity Common Stock Shares Outstanding (In Shares)		305,011,252
Class B Common Stock
Document Information [Line Items]
Entity Common Stock Shares Outstanding (In Shares)		1,277,806,465

Unaudited Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Income Statement [Abstract]
Revenues	$ 12,248	$ 10,594
Cost of sales	6,552	5,853
Gross profit	5,696	4,741
Demand creation expense	918	677
Operating overhead expense	2,654	2,298
Total selling and administrative expense	3,572	2,975
Interest expense (income), net	57	65
Other (income) expense, net	(39)	(14)
Income before income taxes	2,106	1,715
Income tax expense	232	197
NET INCOME	$ 1,874	$ 1,518
Earnings per common share:
Basic (in dollars per share)	$ 1.18	$ 0.97
Diluted (in dollars per share)	$ 1.16	$ 0.95
Weighted average common shares outstanding:
Basic (in shares)	1,581.9	1,561.8
Diluted (in shares)	1,619.6	1,593.3

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 1,874	$ 1,518
Other comprehensive income (loss), net of tax:
Change in net foreign currency translation adjustment	(128)	318
Change in net gains (losses) on cash flow hedges	438	(658)
Change in net gains (losses) on other	3	(5)
Total other comprehensive income (loss), net of tax	313	(345)
TOTAL COMPREHENSIVE INCOME	$ 2,187	$ 1,173

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Current assets:
Cash and equivalents	$ 10,720	$ 9,889
Short-term investments	2,975	3,587
Accounts receivable, net	4,341	4,463
Inventories	6,699	6,854
Prepaid expenses and other current assets	1,655	1,498
Total current assets	26,390	26,291
Property, plant and equipment, net	4,869	4,904
Operating lease right-of-use assets, net	3,078	3,113
Identifiable intangible assets, net	267	269
Goodwill	242	242
Deferred income taxes and other assets	3,071	2,921
TOTAL ASSETS	37,917	37,740
Current liabilities:
Current portion of long-term debt	0	0
Notes payable	15	2
Accounts payable	2,135	2,836
Current portion of operating lease liabilities	462	467
Accrued liabilities	5,296	6,063
Income taxes payable	361	306
Total current liabilities	8,269	9,674
Long-term debt	9,415	9,413
Operating lease liabilities	2,898	2,931
Deferred income taxes and other liabilities	2,992	2,955
Redeemable preferred stock	0	0
Shareholders' equity:
Capital in excess of stated value	10,521	9,965
Accumulated other comprehensive income (loss)	(67)	(380)
Retained earnings (deficit)	3,886	3,179
Total shareholders' equity	14,343	12,767
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	37,917	37,740
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

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Aug. 31, 2021	May 31, 2021
Class A Convertible Common Stock
Common Stock, shares outstanding (in shares)	305	305
Class B Common Stock
Common Stock, shares outstanding (in shares)	1,278	1,273

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Cash provided (used) by operations:
Net income	$ 1,874	$ 1,518
Adjustments to reconcile net income to net cash provided (used) by operations:
Depreciation	177	176
Deferred income taxes	(145)	(220)
Stock-based compensation	136	136
Amortization, impairment and other	(9)	41
Net foreign currency adjustments	43	(45)
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable	36	(990)
(Increase) decrease in inventories	101	689
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets	(242)	(338)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities	(860)	(85)
Cash provided (used) by operations	1,111	882
Cash provided (used) by investing activities:
Purchases of short-term investments	(2,550)	(1,401)
Maturities of short-term investments	2,096	302
Sales of short-term investments	1,037	384
Additions to property, plant and equipment	(184)	(176)
Other investing activities	102	2
Cash provided (used) by investing activities	501	(889)
Cash provided (used) by financing activities:
Increase (decrease) in notes payable	13	(30)
Repayment of borrowings	0	(83)
Proceeds from exercise of stock options and other stock issuances	473	302
Repurchase of common stock	(752)	0
Dividends — common and preferred	(435)	(384)
Other financing activities	(42)	(53)
Cash provided (used) by financing activities	(743)	(248)
Effect of exchange rate changes on cash and equivalents	(38)	55
Net increase (decrease) in cash and equivalents	831	(200)
Cash and equivalents, beginning of period	9,889	8,348
CASH AND EQUIVALENTS, END OF PERIOD	10,720	8,148
Supplemental disclosure of cash flow information:
Non-cash additions to property, plant and equipment	103	114
Dividends declared and not paid	$ 436	$ 383

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 (DEFICIT)	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, 2020						315		1,243
Beginning balance at May. 31, 2020	$ 8,055	$ 8,299	$ (56)	$ (191)		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								7
Stock options exercised	291	291
Dividends on common stock and preferred stock	(383)			(383)
Issuance of shares to employees, net of shares withheld for employee taxes	(48)	(31)		(17)
Stock-based compensation	136	136
Net income	1,518			1,518
Other comprehensive income (loss)	(345)		(345)
Ending Balance (in shares) at Aug. 31, 2020						315		1,250
Ending balance at Aug. 31, 2020	9,224	8,695	(401)	927		$ 0		$ 3
Beginning Balance (in shares) at May. 31, 2021					305	305	1,273	1,273
Beginning balance at May. 31, 2021	12,767	9,965	(380)	3,179		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								10
Stock options exercised	469	469
Repurchase of Class B Common Stock (in shares)								(5)
Repurchase of Class B common stock	(742)	(29)		(713)
Dividends on common stock and preferred stock	(435)			(435)
Issuance of shares to employees, net of shares withheld for employee taxes	(39)	(20)		(19)
Stock-based compensation	136	136
Net income	1,874			1,874
Other comprehensive income (loss)	313		313
Ending Balance (in shares) at Aug. 31, 2021					305	305	1,278	1,278
Ending balance at Aug. 31, 2021	$ 14,343	$ 10,521	$ (67)	$ 3,886		$ 0		$ 3

Unaudited Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.275	$ 0.245
Dividends declared per preferred share (in dollars per share)	$ 0.10	$ 0.10

Summary of Significant Accounting Policies

3 Months Ended

Aug. 31, 2021

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, 2021, 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, 2021. The results of operations for the three months ended August 31, 2021, are not necessarily indicative of results to be expected for the entire fiscal year.

The extent to which the evolving COVID-19 pandemic impacts the Company's financial statements will depend on a number of factors, including the magnitude and duration of the pandemic. There may be developments outside our control that require us to adjust our operating plan, such as our assumption on the pace of reopening and return to full production of factories in Vietnam and the planned shift of production capacity to other countries following factory closures in Vietnam and Indonesia. Such developments and other impacts of COVID-19, such as new or prolonged factory closures, higher inventory levels or inventory shortages in various markets, other adverse impacts on the global supply chain, revised payment terms with certain of our wholesale customers, higher sales-related reserves, factory cancellation costs and a volatile effective tax rate driven by changes in the mix of earnings across our jurisdictions, among other factors, could have material adverse impacts on our revenue growth as well as our overall profitability in future periods.

Inventories

3 Months Ended

Aug. 31, 2021

Inventory Disclosure [Abstract]

Inventories


NOTE 2 — INVENTORIES

Inventory balances of $6,699 million and $6,854 million at August 31, 2021 and May 31, 2021, respectively, were substantially all finished goods.

Accrued Liabilities

3 Months Ended

Aug. 31, 2021

Accrued Liabilities, Current [Abstract]

Accrued Liabilities


NOTE 3 — ACCRUED LIABILITIES

Accrued liabilities included the following:


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
Compensation and benefits, excluding taxes	$	1,039	$	1,472
Sales-related reserves	1,029		1,077
Taxes other than income taxes payable	505		468
Import and logistics costs	491		393
Dividends payable	437		436
Allowance for expected loss on sale(1)	344		358
Other	1,451		1,859
TOTAL ACCRUED LIABILITIES	$	5,296	$	6,063

(1)Refer to Note 12 — Acquisitions and Divestitures for additional information.

Fair Value Measurements

3 Months Ended

Aug. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements


NOTE 4 — 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. For additional information about the Company's fair value policies, refer to Note 1 — Summary of Significant Accounting Policies of the Annual Report on Form 10-K for the fiscal year ended May 31, 2021.

The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2021 and May 31, 2021, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:


	AUGUST 31, 2021
(Dollars in millions)	ASSETS AT FAIR VALUE		CASH AND EQUIVALENTS		SHORT-TERM INVESTMENTS
Cash	$	759	$	759	$	—
Level 1:
U.S. Treasury securities	2,888		601		2,287
Level 2:
Commercial paper and bonds	759		74		685
Money market funds	8,122		8,122		—
Time deposits	1,167		1,164		3

Total Level 2	10,048		9,360		688
TOTAL	$	13,695	$	10,720	$	2,975


	MAY 31, 2021
(Dollars in millions)	ASSETS AT FAIR VALUE		CASH AND EQUIVALENTS		SHORT-TERM INVESTMENTS
Cash	$	840	$	840	$	—
Level 1:
U.S. Treasury securities	2,892		—		2,892
Level 2:
Commercial paper and bonds	748		57		691
Money market funds	7,701		7,701		—
Time deposits	1,293		1,291		2
U.S. Agency securities	2		—		2
Total Level 2	9,744		9,049		695
TOTAL	$	13,476	$	9,889	$	3,587

As of August 31, 2021, the Company held $2,308 million of available-for-sale debt securities with maturity dates within one year and $667 million with maturity dates over 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 $17 million and $7 million for the three months ended August 31, 2021 and 2020, 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, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	247	$	178	$	69	$	127	$	127	$	—
Embedded derivatives	—		—		—		4		4		—
TOTAL	$	247	$	178	$	69	$	131	$	131	$	—

(1)If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $116 million as of August 31, 2021. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments.


	MAY 31, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	92	$	76	$	16	$	456	$	415	$	41
Embedded derivatives	—		—		—		1		1		—
TOTAL	$	92	$	76	$	16	$	457	$	416	$	41

(1)If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $93 million as of May 31, 2021. As of that date, the Company had posted $39 million of cash collateral to various counterparties related to foreign exchange derivative instruments. No amount of collateral was received on the Company's derivative asset balance as of May 31, 2021.

For additional information related to the Company's derivative financial instruments and credit risk, refer to Note 8 — 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 and debt issuance costs. 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, including the current portion, was approximately $10,575 million at August 31, 2021 and $10,275 million at May 31, 2021.

The carrying amounts reflected on the Unaudited Condensed Consolidated Balance Sheets for Notes payable approximate fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

3 Months Ended

Aug. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes


NOTE 5 — INCOME TAXES

The effective tax rate was 11.0% and 11.5% for the three months ended August 31, 2021 and 2020, respectively. The decrease in the Company's effective tax rate was primarily due to a more favorable impact from stock-based compensation and discrete items such as the recognition of a reserve in the first quarter of fiscal 2021 related to Altera Corp. v. Commissioner. The decrease in the Company's effective tax rate was partially offset by a change in the proportion of earnings taxed in the U.S.

As of August 31, 2021, total gross unrecognized tax benefits, excluding related interest and penalties, were $906 million, $627 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, 2021, total gross unrecognized tax benefits, excluding related interest and penalties, were $896 million. The liability for payment of interest and penalties increased by $9 million during the three months ended August 31, 2021. As of August 31, 2021 and May 31, 2021, accrued interest and penalties related to uncertain tax positions were $212 million and $203 million, respectively (excluding federal benefit).

The Company is subject to taxation in the United States, as well as various state and foreign jurisdictions. The Company is currently under audit by the U.S. Internal Revenue Service ("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 2010 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 current and prior periods, and the Company's Netherlands income taxes in the future could increase.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Stock-Based Compensation

3 Months Ended

Aug. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation


NOTE 6 — 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, restricted stock, restricted stock units and performance-based awards. 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). Refer to Note 11 — Common Stock and Stock-Based Compensation of the Annual Report on Form 10-K for the fiscal year ended May 31, 2021 for further information.

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)	2021		2020
Stock options(1)	$	65	$	70
ESPPs	15		18
Restricted stock and restricted stock units(1)(2)	56		48
TOTAL STOCK-BASED COMPENSATION EXPENSE	$	136	$	136

(1)Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is primarily recorded for employees meeting certain retirement eligibility requirements.

(2)Includes expense for performance-based restricted stock units granted during the three months ended August 31, 2021.

The income tax benefit related to stock-based compensation expense was $186 million and $81 million for the three months ended August 31, 2021 and 2020, respectively.

STOCK OPTIONS

The weighted average fair value per share of the options granted during the three months ended August 31, 2021 and 2020, computed as of the grant date using the Black-Scholes pricing model, was $38.64 and $22.55, respectively. The weighted average assumptions used to estimate these fair values were as follows:


	THREE MONTHS ENDED AUGUST 31,
	2021		2020
Dividend yield	0.7	%	1.0	%
Expected volatility	25.2	%	27.2	%
Weighted average expected life (in years)	5.9		6.0
Risk-free interest rate	0.8	%	0.3	%

Expected volatilities are based on the historical volatility of the Company's common stock, the implied volatility in market-traded options on the Company's common stock with a term greater than one year, as well as other factors. The weighted average expected life of options is based on an analysis of historical and expected future exercise patterns. The interest rate is based on the U.S. Treasury (constant maturity) risk-free rate in effect at the date of grant for periods corresponding with the expected term of the options.

As of August 31, 2021, the Company had $382 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

The weighted average fair value per share of restricted stock and restricted stock units granted for the three months ended August 31, 2021 and 2020, computed as of the grant date, was $161.46 and $98.47, respectively.

During the three months ended August 31, 2021, under the Stock Incentive Plan, the Company granted performance-based restricted stock units (PSUs), which were historically in the form of cash-based long-term incentive awards under the Company's Long-Term Incentive Plan. The Company estimates the fair value of these PSUs as of the grant date using a Monte Carlo simulation. The weighted average fair value per share of PSUs granted for the three months ended August 31, 2021, computed as of the grant date, was $247.06. The impact of granting PSUs during the period was not material to the Company's Unaudited Condensed Consolidated Financial Statements.

As of August 31, 2021, the Company had $527 million of unrecognized compensation costs from restricted stock, restricted stock units and PSUs, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.5 years.

Earnings Per Share

3 Months Ended

Aug. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share


NOTE 7 — 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 excluded restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an additional 1.1 million and 2.1 million shares of common stock outstanding for the three months ended August 31, 2021 and 2020, respectively, because the awards were anti-dilutive.


	THREE MONTHS ENDED AUGUST 31,
(In millions, except per share data)	2021		2020
Net income available to common stockholders	$	1,874	$	1,518
Determination of shares:
Weighted average common shares outstanding	1,581.9		1,561.8
Assumed conversion of dilutive stock options and awards	37.7		31.5
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,619.6		1,593.3
Earnings per common share:
Basic	$	1.18	$	0.97
Diluted	$	1.16	$	0.95

Risk Management and Derivatives

3 Months Ended

Aug. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Risk Management and Derivatives


NOTE 8 — 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, 2021, there have been no material changes to the Company's hedging program or strategy from what was disclosed within the Annual Report on Form 10-K. For additional information about the Company's derivatives and hedging policies refer to Note 1 — Summary of Significant Accounting Policies and Note 14 — Risk Management and Derivatives of the Annual Report on Form 10-K for the fiscal year ended May 31, 2021.

The majority of derivatives outstanding as of August 31, 2021, 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 LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	151	$	42
Foreign exchange forwards and options	Deferred income taxes and other assets	69		16
Total derivatives formally designated as hedging instruments		220		58
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	27		34
Embedded derivatives	Prepaid expenses and other current assets	—		—


Total derivatives not designated as hedging instruments		27		34
TOTAL DERIVATIVE ASSETS		$	247	$	92

	DERIVATIVE LIABILITIES
	BALANCE SHEET LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	$	106	$	385
Foreign exchange forwards and options	Deferred income taxes and other liabilities	—		41
Total derivatives formally designated as hedging instruments		106		426
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	21		30
Embedded derivatives	Accrued liabilities	4		1


Total derivatives not designated as hedging instruments		25		31
TOTAL DERIVATIVE LIABILITIES		$	131	$	457

The following table presents the amounts in the Unaudited Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items:


	THREE MONTHS ENDED AUGUST 31,
	2021				2020
(Dollars in millions)	TOTAL		AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY		TOTAL		AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY
Revenues	$	12,248	$	(21)	$	10,594	$	14
Cost of sales	6,552		(66)		5,853		114
Demand creation expense	918		1		677		1
Other (income) expense, net	(39)		(9)		(14)		8
Interest expense (income), net	57		(2)		65		(2)

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,
	2021		2020			2021		2020
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	(6)	$	—	Revenues	$	(21)	$	14
Foreign exchange forwards and options	265		(371)		Cost of sales	(66)		114
Foreign exchange forwards and options	(1)		1		Demand creation expense	1		1
Foreign exchange forwards and options	130		(160)		Other (income) expense, net	(9)		8
Interest rate swaps(2)	—		—		Interest expense (income), net	(2)		(2)
TOTAL DESIGNATED CASH FLOW HEDGES	$	388	$	(530)		$	(97)	$	135

(1)For the three months ended August 31, 2021 and 2020, 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)	2021		2020


Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	$	23	$	(38)		Other (income) expense, net
Embedded derivatives	(5)		(4)			Other (income) expense, net

CASH FLOW HEDGES

All changes in fair value of derivatives designated as cash flow hedge instruments are recorded in Accumulated other comprehensive income (loss) until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified in the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. When it is no longer probable the forecasted hedged transaction will occur in the initially identified time period, hedge accounting is discontinued and the Company accounts for the associated derivative as an undesignated instrument as discussed below. Additionally, the gains and losses associated with derivatives no longer designated as cash flow hedge instruments in Accumulated other comprehensive income (loss) are recognized immediately in Other (income) expense, net, if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional two-month period thereafter. In rare circumstances, the additional period of time may exceed two months due to extenuating circumstances related to the nature of the forecasted transaction that are outside the control or influence of the Company.

The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was approximately $15.2 billion as of August 31, 2021. Approximately $10 million of deferred net losses (net of tax) on both outstanding and matured derivatives in Accumulated other comprehensive income (loss) as of August 31, 2021, 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, 2021, the maximum term over which the Company hedges exposures to the variability of cash flows for its forecasted transactions was 24 months.

UNDESIGNATED DERIVATIVE INSTRUMENTS

The Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Unaudited Condensed Consolidated Balance Sheets and/or embedded derivative contracts. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, together with the remeasurement gain or loss from the hedged balance sheet position and/or embedded derivative contract. The total notional amount of outstanding undesignated derivative instruments was $4.4 billion as of August 31, 2021.

EMBEDDED DERIVATIVES

Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related contract and recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, through the date the foreign currency fluctuations cease to exist.

As of August 31, 2021, the total notional amount of embedded derivatives outstanding was approximately $502 million.

CREDIT RISK

The Company's bilateral credit-related contingent features generally require the owing entity, either the Company or the derivative counterparty, to post collateral for the portion of the fair value in excess of $50 million should the fair value of outstanding derivatives per counterparty be greater than $50 million. Additionally, a certain level of decline in credit rating of either the Company or the counterparty could trigger collateral requirements. As of August 31, 2021, the Company was in compliance with all credit risk-related contingent features, and derivative instruments with such features were in a net liability position of approximately $11 million. Accordingly, the Company was not required to post cash collateral as a result of these contingent features. Further, no amount of collateral was received on the Company's derivative asset balance as of August 31, 2021. The Company 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 4 — Fair Value Measurements.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Aug. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)


NOTE 9 — 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)		OTHER		TOTAL
Balance at May 31, 2021	$	2	$	(435)	$	115	$	(62)	$	(380)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	(128)		349		—		8		229
Reclassifications to net income of previously deferred (gains) losses(3)	—		89		—		(5)		84
Total other comprehensive income (loss)	(128)		438		—		3		313
Balance at August 31, 2021	$	(126)	$	3	$	115	$	(59)	$	(67)

(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 tax benefit (expense) of $0 million, $(39) million, $0 million, $(2) million, and $(41) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $(8) million, $0 million, $1 million and $(7) million, respectively.


(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at May 31, 2020	$	(494)	$	390	$	115	$	(67)	$	(56)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	318		(526)		—		(13)		(221)
Reclassifications to net income of previously deferred (gains) losses(3)	—		(132)		—		8		(124)
Total other comprehensive income (loss)	318		(658)		—		(5)		(345)
Balance at August 31, 2020	$	(176)	$	(268)	$	115	$	(72)	$	(401)

(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 tax benefit (expense) of $0 million, $4 million, $0 million, $1 million and $5 million, respectively.

(3)Net of tax (benefit) expense of $0 million, $3 million, $0 million, $0 million and $3 million, respectively.

The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income:


	AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME				LOCATION OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
	THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)	2021		2020




Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	$	(21)	$	14		Revenues
Foreign exchange forwards and options	(66)		114			Cost of sales
Foreign exchange forwards and options	1		1			Demand creation expense
Foreign exchange forwards and options	(9)		8			Other (income) expense, net
Interest rate swaps	(2)		(2)			Interest expense (income), net
Total before tax	(97)		135
Tax (expense) benefit	8		(3)
Gain (loss) net of tax	(89)		132
Gains (losses) on other	6		(8)			Other (income) expense, net
Total before tax	6		(8)
Tax (expense) benefit	(1)		—
Gain (loss) net of tax	5		(8)
Total net gain (loss) reclassified for the period	$	(84)	$	124

Revenues

3 Months Ended

Aug. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues


NOTE 10 — 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, 2021
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	3,264	$	1,983	$	1,449	$	1,022	$	—	$	7,718	$	567	$	—	$	8,285
Apparel	1,430		1,159		476		385		—		3,450		24		—		3,474
Equipment	185		165		57		58		—		465		9		—		474
Other	—		—		—		—		7		7		29		(21)		15
TOTAL REVENUES	$	4,879	$	3,307	$	1,982	$	1,465	$	7	$	11,640	$	629	$	(21)	$	12,248
Revenues by:
Sales to Wholesale Customers	$	2,678	$	2,224	$	1,114	$	927	$	—	$	6,943	$	369	$	—	$	7,312
Sales through Direct to Consumer	2,201		1,083		868		538		—		4,690		231		—		4,921
Other	—		—		—		—		7		7		29		(21)		15
TOTAL REVENUES	$	4,879	$	3,307	$	1,982	$	1,465	$	7	$	11,640	$	629	$	(21)	$	12,248


	THREE MONTHS ENDED AUGUST 31, 2020
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	2,957	$	1,802	$	1,251	$	758	$	—	$	6,768	$	513	$	—	$	7,281
Apparel	1,125		971		478		301		—		2,875		22		—		2,897
Equipment	143		137		51		40		—		371		9		—		380
Other	—		—		—		—		4		4		19		13		36
TOTAL REVENUES	$	4,225	$	2,910	$	1,780	$	1,099	$	4	$	10,018	$	563	$	13	$	10,594
Revenues by:
Sales to Wholesale Customers	$	2,719	$	1,973	$	964	$	708	$	—	$	6,364	$	373	$	—	$	6,737
Sales through Direct to Consumer	1,506		937		816		391		—		3,650		171		—		3,821
Other	—		—		—		—		4		4		19		13		36
TOTAL REVENUES	$	4,225	$	2,910	$	1,780	$	1,099	$	4	$	10,018	$	563	$	13	$	10,594

For the three months ended August 31, 2021 and 2020, Global Brand Divisions revenues include 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, 2021 and May 31, 2021, 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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Operating Segments

3 Months Ended

Aug. 31, 2021

Segment Reporting [Abstract]

Operating Segments


NOTE 11 — 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 tax expense 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)	2021		2020
REVENUES
North America	$	4,879	$	4,225
Europe, Middle East & Africa	3,307		2,910
Greater China	1,982		1,780
Asia Pacific & Latin America	1,465		1,099
Global Brand Divisions	7		4
Total NIKE Brand	11,640		10,018
Converse	629		563
Corporate	(21)		13
TOTAL NIKE, INC. REVENUES	$	12,248	$	10,594
EARNINGS BEFORE INTEREST AND TAXES
North America	$	1,434	$	1,302
Europe, Middle East & Africa	875		692
Greater China	701		688
Asia Pacific & Latin America	481		280
Global Brand Divisions	(987)		(853)
Converse	204		168
Corporate	(545)		(497)
Interest expense (income), net	57		65
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES	$	2,106	$	1,715


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
ACCOUNTS RECEIVABLE, NET
North America	$	1,445	$	1,777
Europe, Middle East & Africa	1,489		1,349
Greater China	348		288
Asia Pacific & Latin America(1)	681		643
Global Brand Divisions	97		128
Total NIKE Brand	4,060		4,185
Converse	224		225
Corporate	57		53
TOTAL ACCOUNTS RECEIVABLE, NET	$	4,341	$	4,463
INVENTORIES
North America	$	2,851	$	2,851
Europe, Middle East & Africa	1,632		1,821
Greater China	1,148		1,247
Asia Pacific & Latin America(1)	668		667
Global Brand Divisions	188		153
Total NIKE Brand	6,487		6,739
Converse	263		290
Corporate	(51)		(175)
TOTAL INVENTORIES	$	6,699	$	6,854


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
PROPERTY, PLANT AND EQUIPMENT, NET
North America	$	621	$	617
Europe, Middle East & Africa	966		982
Greater China	287		288
Asia Pacific & Latin America(1)	311		304
Global Brand Divisions	786		780
Total NIKE Brand	2,971		2,971
Converse	58		63
Corporate	1,840		1,870
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,869	$	4,904

(1)Excludes assets held-for-sale as of August 31, 2021 and May 31, 2021. See Note 12 — Acquisitions and Divestitures for additional information.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions and Divestitures

3 Months Ended

Aug. 31, 2021

Business Combinations [Abstract]

Acquisitions and Divestitures


NOTE 12 — ACQUISITIONS AND DIVESTITURES

As previously disclosed in the Annual Report on Form 10-K for the fiscal year ended May 31, 2021, the Company remains committed to selling its legal entities in Argentina, Chile and Uruguay and granting distribution rights to third-party distributors. As such, the assets and liabilities of the entities have remained classified as held-for-sale on the Unaudited Condensed Consolidated Balance Sheets.

As of August 31, 2021, held-for-sale assets were $203 million, primarily consisting of $87 million of Accounts receivable, net and $66 million of Inventories; held-for-sale liabilities were $89 million, primarily consisting of $28 million of Accounts payable and $28 million of Accrued liabilities.

As of May 31, 2021, held-for-sale assets were $175 million, primarily consisting of $76 million of Inventories and $59 million of Accounts receivable, net; held-for-sale liabilities were $72 million, primarily consisting of $25 million of Accounts payable and $22 million of Accrued liabilities.

As of August 31, 2021, the Company has recognized total expected net losses related to the Argentina, Chile and Uruguay transaction of $344 million within Other (income) expense, net, classified within Corporate, and a corresponding allowance within Accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets. The initial expected loss of $405 million recognized in fiscal 2020 and the subsequent adjustments for changes in fair value are largely due to the anticipated release of the cumulative foreign currency translation losses. These losses will be reclassified from Accumulated other comprehensive income (loss) to Net income upon sale of the legal entities.

Restructuring

3 Months Ended

Aug. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring


NOTE 13 — RESTRUCTURING

During fiscal 2021, the Company announced a new digitally empowered phase of its Consumer Direct Offense strategy: Consumer Direct Acceleration. During fiscal 2021, the Company substantially completed a series of leadership and operating model changes to streamline and speed up strategic execution of the Consumer Direct Acceleration. During the first quarter of fiscal 2022 and the first quarter of fiscal 2021, the Company recognized an immaterial amount of related employee termination costs and, to a lesser extent, stock-based compensation expense.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Aug. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	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, 2021, 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, 2021. The results of operations for the three months ended August 31, 2021, are not necessarily indicative of results to be expected for the entire fiscal year. The extent to which the evolving COVID-19 pandemic impacts the Company's financial statements will depend on a number of factors, including the magnitude and duration of the pandemic. There may be developments outside our control that require us to adjust our operating plan, such as our assumption on the pace of reopening and return to full production of factories in Vietnam and the planned shift of production capacity to other countries following factory closures in Vietnam and Indonesia. Such developments and other impacts of COVID-19, such as new or prolonged factory closures, higher inventory levels or inventory shortages in various markets, other adverse impacts on the global supply chain, revised payment terms with certain of our wholesale customers, higher sales-related reserves, factory cancellation costs and a volatile effective tax rate driven by changes in the mix of earnings across our jurisdictions, among other factors, could have material adverse impacts on our revenue growth as well as our overall profitability in future periods.
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.
Hedging Derivatives	CASH FLOW HEDGESAll changes in fair value of derivatives designated as cash flow hedge instruments are recorded in Accumulated other comprehensive income (loss) until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified in the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. When it is no longer probable the forecasted hedged transaction will occur in the initially identified time period, hedge accounting is discontinued and the Company accounts for the associated derivative as an undesignated instrument as discussed below. Additionally, the gains and losses associated with derivatives no longer designated as cash flow hedge instruments in Accumulated other comprehensive income (loss) are recognized immediately in Other (income) expense, net, if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional two-month period thereafter. In rare circumstances, the additional period of time may exceed two months due to extenuating circumstances related to the nature of the forecasted transaction that are outside the control or influence of the Company.
Undesignated Derivative Instruments	UNDESIGNATED DERIVATIVE INSTRUMENTSThe Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Unaudited Condensed Consolidated Balance Sheets and/or embedded derivative contracts. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, together with the remeasurement gain or loss from the hedged balance sheet position and/or embedded derivative contract.
Embedded Derivatives	EMBEDDED DERIVATIVESEmbedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related contract and recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, through the date the foreign currency fluctuations cease to exist.

Accrued Liabilities (Tables)

3 Months Ended

Aug. 31, 2021

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities included the following:


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
Compensation and benefits, excluding taxes	$	1,039	$	1,472
Sales-related reserves	1,029		1,077
Taxes other than income taxes payable	505		468
Import and logistics costs	491		393
Dividends payable	437		436
Allowance for expected loss on sale(1)	344		358
Other	1,451		1,859
TOTAL ACCRUED LIABILITIES	$	5,296	$	6,063

(1)Refer to Note 12 — Acquisitions and Divestitures for additional information

Fair Value Measurements (Tables)

3 Months Ended

Aug. 31, 2021

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, 2021 and May 31, 2021, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement:


	AUGUST 31, 2021
(Dollars in millions)	ASSETS AT FAIR VALUE		CASH AND EQUIVALENTS		SHORT-TERM INVESTMENTS
Cash	$	759	$	759	$	—
Level 1:
U.S. Treasury securities	2,888		601		2,287
Level 2:
Commercial paper and bonds	759		74		685
Money market funds	8,122		8,122		—
Time deposits	1,167		1,164		3

Total Level 2	10,048		9,360		688
TOTAL	$	13,695	$	10,720	$	2,975


	MAY 31, 2021
(Dollars in millions)	ASSETS AT FAIR VALUE		CASH AND EQUIVALENTS		SHORT-TERM INVESTMENTS
Cash	$	840	$	840	$	—
Level 1:
U.S. Treasury securities	2,892		—		2,892
Level 2:
Commercial paper and bonds	748		57		691
Money market funds	7,701		7,701		—
Time deposits	1,293		1,291		2
U.S. Agency securities	2		—		2
Total Level 2	9,744		9,049		695
TOTAL	$	13,476	$	9,889	$	3,587

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, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	247	$	178	$	69	$	127	$	127	$	—
Embedded derivatives	—		—		—		4		4		—
TOTAL	$	247	$	178	$	69	$	131	$	131	$	—

(1)If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $116 million as of August 31, 2021. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments.


	MAY 31, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	92	$	76	$	16	$	456	$	415	$	41
Embedded derivatives	—		—		—		1		1		—
TOTAL	$	92	$	76	$	16	$	457	$	416	$	41

(1)If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $93 million as of May 31, 2021. As of that date, the Company had posted $39 million of cash collateral to various counterparties related to foreign exchange derivative instruments. No amount of collateral was received on the Company's derivative asset balance as of May 31, 2021.

The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:


	DERIVATIVE ASSETS
	BALANCE SHEET LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	151	$	42
Foreign exchange forwards and options	Deferred income taxes and other assets	69		16
Total derivatives formally designated as hedging instruments		220		58
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	27		34
Embedded derivatives	Prepaid expenses and other current assets	—		—


Total derivatives not designated as hedging instruments		27		34
TOTAL DERIVATIVE ASSETS		$	247	$	92

	DERIVATIVE LIABILITIES
	BALANCE SHEET LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	$	106	$	385
Foreign exchange forwards and options	Deferred income taxes and other liabilities	—		41
Total derivatives formally designated as hedging instruments		106		426
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	21		30
Embedded derivatives	Accrued liabilities	4		1


Total derivatives not designated as hedging instruments		25		31
TOTAL DERIVATIVE LIABILITIES		$	131	$	457

Stock-Based Compensation (Tables)

3 Months Ended

Aug. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Disclosure 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)	2021		2020
Stock options(1)	$	65	$	70
ESPPs	15		18
Restricted stock and restricted stock units(1)(2)	56		48
TOTAL STOCK-BASED COMPENSATION EXPENSE	$	136	$	136

(1)Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is primarily recorded for employees meeting certain retirement eligibility requirements.

(2)Includes expense for performance-based restricted stock units granted during the three months ended August 31, 2021.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted average assumptions used to estimate these fair values were as follows:


	THREE MONTHS ENDED AUGUST 31,
	2021		2020
Dividend yield	0.7	%	1.0	%
Expected volatility	25.2	%	27.2	%
Weighted average expected life (in years)	5.9		6.0
Risk-free interest rate	0.8	%	0.3	%

Earnings Per Share (Tables)

3 Months Ended

Aug. 31, 2021

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 excluded restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an additional 1.1 million and 2.1 million shares of common stock outstanding for the three months ended August 31, 2021 and 2020, respectively, because the awards were anti-dilutive.


	THREE MONTHS ENDED AUGUST 31,
(In millions, except per share data)	2021		2020
Net income available to common stockholders	$	1,874	$	1,518
Determination of shares:
Weighted average common shares outstanding	1,581.9		1,561.8
Assumed conversion of dilutive stock options and awards	37.7		31.5
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,619.6		1,593.3
Earnings per common share:
Basic	$	1.18	$	0.97
Diluted	$	1.16	$	0.95

Risk Management and Derivatives (Tables)

3 Months Ended

Aug. 31, 2021

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, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	247	$	178	$	69	$	127	$	127	$	—
Embedded derivatives	—		—		—		4		4		—
TOTAL	$	247	$	178	$	69	$	131	$	131	$	—

(1)If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $116 million as of August 31, 2021. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments.


	MAY 31, 2021
	DERIVATIVE ASSETS						DERIVATIVE LIABILITIES
(Dollars in millions)	ASSETS AT FAIR VALUE		OTHER CURRENT ASSETS		OTHER LONG-TERM ASSETS		LIABILITIES AT FAIR VALUE		ACCRUED LIABILITIES		OTHER LONG-TERM LIABILITIES
Level 2:
Foreign exchange forwards and options(1)	$	92	$	76	$	16	$	456	$	415	$	41
Embedded derivatives	—		—		—		1		1		—
TOTAL	$	92	$	76	$	16	$	457	$	416	$	41

(1)If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $93 million as of May 31, 2021. As of that date, the Company had posted $39 million of cash collateral to various counterparties related to foreign exchange derivative instruments. No amount of collateral was received on the Company's derivative asset balance as of May 31, 2021.

The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets:


	DERIVATIVE ASSETS
	BALANCE SHEET LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	151	$	42
Foreign exchange forwards and options	Deferred income taxes and other assets	69		16
Total derivatives formally designated as hedging instruments		220		58
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	27		34
Embedded derivatives	Prepaid expenses and other current assets	—		—


Total derivatives not designated as hedging instruments		27		34
TOTAL DERIVATIVE ASSETS		$	247	$	92

	DERIVATIVE LIABILITIES
	BALANCE SHEET LOCATION	AUGUST 31,		MAY 31,
(Dollars in millions)		2021		2021
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	$	106	$	385
Foreign exchange forwards and options	Deferred income taxes and other liabilities	—		41
Total derivatives formally designated as hedging instruments		106		426
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Accrued liabilities	21		30
Embedded derivatives	Accrued liabilities	4		1


Total derivatives not designated as hedging instruments		25		31
TOTAL DERIVATIVE LIABILITIES		$	131	$	457

Schedule of Derivative Instruments, Gain (Loss) In Statement of Income

The following table presents the amounts in the Unaudited Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items:


	THREE MONTHS ENDED AUGUST 31,
	2021				2020
(Dollars in millions)	TOTAL		AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY		TOTAL		AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY
Revenues	$	12,248	$	(21)	$	10,594	$	14
Cost of sales	6,552		(66)		5,853		114
Demand creation expense	918		1		677		1
Other (income) expense, net	(39)		(9)		(14)		8
Interest expense (income), net	57		(2)		65		(2)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

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,
	2021		2020			2021		2020
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	(6)	$	—	Revenues	$	(21)	$	14
Foreign exchange forwards and options	265		(371)		Cost of sales	(66)		114
Foreign exchange forwards and options	(1)		1		Demand creation expense	1		1
Foreign exchange forwards and options	130		(160)		Other (income) expense, net	(9)		8
Interest rate swaps(2)	—		—		Interest expense (income), net	(2)		(2)
TOTAL DESIGNATED CASH FLOW HEDGES	$	388	$	(530)		$	(97)	$	135

(1)For the three months ended August 31, 2021 and 2020, 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)	2021		2020


Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	$	23	$	(38)		Other (income) expense, net
Embedded derivatives	(5)		(4)			Other (income) expense, net

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Aug. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income

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)		OTHER		TOTAL
Balance at May 31, 2021	$	2	$	(435)	$	115	$	(62)	$	(380)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	(128)		349		—		8		229
Reclassifications to net income of previously deferred (gains) losses(3)	—		89		—		(5)		84
Total other comprehensive income (loss)	(128)		438		—		3		313
Balance at August 31, 2021	$	(126)	$	3	$	115	$	(59)	$	(67)

(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 tax benefit (expense) of $0 million, $(39) million, $0 million, $(2) million, and $(41) million, respectively.

(3)Net of tax (benefit) expense of $0 million, $(8) million, $0 million, $1 million and $(7) million, respectively.


(Dollars in millions)	FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1)		CASH FLOW HEDGES		NET INVESTMENT HEDGES(1)		OTHER		TOTAL
Balance at May 31, 2020	$	(494)	$	390	$	115	$	(67)	$	(56)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications(2)	318		(526)		—		(13)		(221)
Reclassifications to net income of previously deferred (gains) losses(3)	—		(132)		—		8		(124)
Total other comprehensive income (loss)	318		(658)		—		(5)		(345)
Balance at August 31, 2020	$	(176)	$	(268)	$	115	$	(72)	$	(401)

(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 tax benefit (expense) of $0 million, $4 million, $0 million, $1 million and $5 million, respectively.

(3)Net of tax (benefit) expense of $0 million, $3 million, $0 million, $0 million and $3 million, respectively.

Reclassification out of Accumulated Other Comprehensive Income

The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income:


	AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME				LOCATION OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
	THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)	2021		2020




Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	$	(21)	$	14		Revenues
Foreign exchange forwards and options	(66)		114			Cost of sales
Foreign exchange forwards and options	1		1			Demand creation expense
Foreign exchange forwards and options	(9)		8			Other (income) expense, net
Interest rate swaps	(2)		(2)			Interest expense (income), net
Total before tax	(97)		135
Tax (expense) benefit	8		(3)
Gain (loss) net of tax	(89)		132
Gains (losses) on other	6		(8)			Other (income) expense, net
Total before tax	6		(8)
Tax (expense) benefit	(1)		—
Gain (loss) net of tax	5		(8)
Total net gain (loss) reclassified for the period	$	(84)	$	124

Revenues (Tables)

3 Months Ended

Aug. 31, 2021

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, 2021
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	3,264	$	1,983	$	1,449	$	1,022	$	—	$	7,718	$	567	$	—	$	8,285
Apparel	1,430		1,159		476		385		—		3,450		24		—		3,474
Equipment	185		165		57		58		—		465		9		—		474
Other	—		—		—		—		7		7		29		(21)		15
TOTAL REVENUES	$	4,879	$	3,307	$	1,982	$	1,465	$	7	$	11,640	$	629	$	(21)	$	12,248
Revenues by:
Sales to Wholesale Customers	$	2,678	$	2,224	$	1,114	$	927	$	—	$	6,943	$	369	$	—	$	7,312
Sales through Direct to Consumer	2,201		1,083		868		538		—		4,690		231		—		4,921
Other	—		—		—		—		7		7		29		(21)		15
TOTAL REVENUES	$	4,879	$	3,307	$	1,982	$	1,465	$	7	$	11,640	$	629	$	(21)	$	12,248


	THREE MONTHS ENDED AUGUST 31, 2020
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	2,957	$	1,802	$	1,251	$	758	$	—	$	6,768	$	513	$	—	$	7,281
Apparel	1,125		971		478		301		—		2,875		22		—		2,897
Equipment	143		137		51		40		—		371		9		—		380
Other	—		—		—		—		4		4		19		13		36
TOTAL REVENUES	$	4,225	$	2,910	$	1,780	$	1,099	$	4	$	10,018	$	563	$	13	$	10,594
Revenues by:
Sales to Wholesale Customers	$	2,719	$	1,973	$	964	$	708	$	—	$	6,364	$	373	$	—	$	6,737
Sales through Direct to Consumer	1,506		937		816		391		—		3,650		171		—		3,821
Other	—		—		—		—		4		4		19		13		36
TOTAL REVENUES	$	4,225	$	2,910	$	1,780	$	1,099	$	4	$	10,018	$	563	$	13	$	10,594

Operating Segments (Tables)

3 Months Ended

Aug. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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)	2021		2020
REVENUES
North America	$	4,879	$	4,225
Europe, Middle East & Africa	3,307		2,910
Greater China	1,982		1,780
Asia Pacific & Latin America	1,465		1,099
Global Brand Divisions	7		4
Total NIKE Brand	11,640		10,018
Converse	629		563
Corporate	(21)		13
TOTAL NIKE, INC. REVENUES	$	12,248	$	10,594
EARNINGS BEFORE INTEREST AND TAXES
North America	$	1,434	$	1,302
Europe, Middle East & Africa	875		692
Greater China	701		688
Asia Pacific & Latin America	481		280
Global Brand Divisions	(987)		(853)
Converse	204		168
Corporate	(545)		(497)
Interest expense (income), net	57		65
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES	$	2,106	$	1,715

Reconciliation of Assets from Segment to Consolidated


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
ACCOUNTS RECEIVABLE, NET
North America	$	1,445	$	1,777
Europe, Middle East & Africa	1,489		1,349
Greater China	348		288
Asia Pacific & Latin America(1)	681		643
Global Brand Divisions	97		128
Total NIKE Brand	4,060		4,185
Converse	224		225
Corporate	57		53
TOTAL ACCOUNTS RECEIVABLE, NET	$	4,341	$	4,463
INVENTORIES
North America	$	2,851	$	2,851
Europe, Middle East & Africa	1,632		1,821
Greater China	1,148		1,247
Asia Pacific & Latin America(1)	668		667
Global Brand Divisions	188		153
Total NIKE Brand	6,487		6,739
Converse	263		290
Corporate	(51)		(175)
TOTAL INVENTORIES	$	6,699	$	6,854


	AUGUST 31,		MAY 31,
(Dollars in millions)	2021		2021
PROPERTY, PLANT AND EQUIPMENT, NET
North America	$	621	$	617
Europe, Middle East & Africa	966		982
Greater China	287		288
Asia Pacific & Latin America(1)	311		304
Global Brand Divisions	786		780
Total NIKE Brand	2,971		2,971
Converse	58		63
Corporate	1,840		1,870
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,869	$	4,904

(1)Excludes assets held-for-sale as of August 31, 2021 and May 31, 2021. See Note 12 — Acquisitions and Divestitures for additional information.

Inventories (Detail) - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Inventory Disclosure [Abstract]
Inventory, Finished Goods, Net of Reserves	$ 6,699	$ 6,854

Accrued Liabilities (Detail) - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Accrued Liabilities, Current [Abstract]
Compensation and benefits, excluding taxes	$ 1,039	$ 1,472
Sales-related reserves	1,029	1,077
Taxes other than income taxes payable	505	468
Import and logistics costs	491	393
Dividends payable	437	436
Allowance for expected loss on sale	344	358
Other	1,451	1,859
Accrued liabilities	$ 5,296	$ 6,063

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Assets, Fair Value Disclosure [Abstract]
Cash	$ 759	$ 840
ASSETS AT FAIR VALUE	13,695	13,476
CASH AND EQUIVALENTS	10,720	9,889
SHORT-TERM INVESTMENTS	2,975	3,587
Fair Value, Inputs, Level 1 \| U.S. Treasury securities
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	2,888	2,892
CASH AND EQUIVALENTS	601	0
SHORT-TERM INVESTMENTS	2,287	2,892
Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	10,048	9,744
CASH AND EQUIVALENTS	9,360	9,049
SHORT-TERM INVESTMENTS	688	695
Fair Value, Inputs, Level 2 \| Commercial paper and bonds
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	759	748
CASH AND EQUIVALENTS	74	57
SHORT-TERM INVESTMENTS	685	691
Fair Value, Inputs, Level 2 \| Money market funds
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	8,122	7,701
CASH AND EQUIVALENTS	8,122	7,701
SHORT-TERM INVESTMENTS	0	0
Fair Value, Inputs, Level 2 \| Time deposits
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	1,167	1,293
CASH AND EQUIVALENTS	1,164	1,291
SHORT-TERM INVESTMENTS	$ 3	2
Fair Value, Inputs, Level 2 \| U.S. Agency securities
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE		2
CASH AND EQUIVALENTS		0
SHORT-TERM INVESTMENTS		$ 2

Fair Value Measurements - Derivative Assets and Liabilities at Fair Value (Detail) - USD ($)	Aug. 31, 2021	May 31, 2021
Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Reduction in derivative liabilities if netted	$ 116,000,000	$ 93,000,000
Reduction in derivative assets if netted	116,000,000	93,000,000
Cash and Cash Equivalents
Derivatives, Fair Value [Line Items]
Derivative asset, fair value of collateral	0
Cash and Cash Equivalents \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Fair value of derivative liability collateral	0	39,000,000
Derivative asset, fair value of collateral	0	0
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring
Derivatives, Fair Value [Line Items]
ASSETS AT FAIR VALUE	247,000,000	92,000,000
OTHER CURRENT ASSETS	178,000,000	76,000,000
OTHER LONG-TERM ASSETS	69,000,000	16,000,000
LIABILITIES AT FAIR VALUE	131,000,000	457,000,000
ACCRUED LIABILITIES	131,000,000	416,000,000
OTHER LONG-TERM LIABILITIES	0	41,000,000
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
ASSETS AT FAIR VALUE	247,000,000	92,000,000
OTHER CURRENT ASSETS	178,000,000	76,000,000
OTHER LONG-TERM ASSETS	69,000,000	16,000,000
LIABILITIES AT FAIR VALUE	127,000,000	456,000,000
ACCRUED LIABILITIES	127,000,000	415,000,000
OTHER LONG-TERM LIABILITIES	0	41,000,000
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring \| Embedded derivatives
Derivatives, Fair Value [Line Items]
ASSETS AT FAIR VALUE	0	0
OTHER CURRENT ASSETS	0	0
OTHER LONG-TERM ASSETS	0	0
LIABILITIES AT FAIR VALUE	4,000,000	1,000,000
ACCRUED LIABILITIES	4,000,000	1,000,000
OTHER LONG-TERM LIABILITIES	$ 0	$ 0

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	May 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of long term debt	$ 10,575		$ 10,275
Short-term Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities with maturity dates within one year from purchase date	2,308
Available-for-sale securities with maturity dates over one year and less than five years from purchase date	667
Interest (income) expense, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest income related to cash and equivalents and short-term investments	$ 17	$ 7

Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Detail) - USD ($) $ in Millions	Aug. 31, 2021	Aug. 31, 2020	May 31, 2021
Income Tax Disclosure [Abstract]
Federal income tax rate	11.00%	11.50%
Total gross unrecognized tax benefits, excluding related interest and penalties	$ 906		$ 896
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	627
Increase in liability for payment of interest and penalties	9
Accrued interest and penalties related to uncertain tax positions (excluding federal benefit)	212		$ 203
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

Stock-Based Compensation - Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit related to stock-based compensation expense	$ 186	$ 81
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 136	136
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
Stock options \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 65	70
ESPPs \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	15	18
Restricted Stock and Restricted Stock Units \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 56	$ 48

Stock-Based Compensation - Weighted Average Assumptions Used to Estimate Fair Values (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share of the options granted (in dollars per share)	$ 38.64	$ 22.55
Dividend yield	0.70%	1.00%
Expected volatility	25.20%	27.20%
Weighted average expected life	5 years 10 months 24 days	6 years
Risk-free interest rate	0.80%	0.30%
Stock Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs from stock options	$ 382
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period (in years)	2 years 4 months 24 days
Class B Common Stock \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum term of market traded options for estimates of expected volatility	1 year

Stock-Based Compensation - Restricted Stock and Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 161.46	$ 98.47
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period (in years)	2 years 6 months
Performance Based Restricted Stock (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 247.06
Restricted Stock, Restricted Stock Units and Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs from restricted stock, net of estimated forfeitures	$ 527

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
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)	1.1	2.1

Earnings Per Share - Reconciliation from Basic Earnings Per Share to Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 1,874	$ 1,518
Determination of shares:
Weighted average common shares outstanding (in shares)	1,581.9	1,561.8
Assumed conversion of dilutive stock options and awards (in shares)	37.7	31.5
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares)	1,619.6	1,593.3
Earnings per common share:
Basic (in dollars per share)	$ 1.18	$ 0.97
Diluted (in dollars per share)	$ 1.16	$ 0.95

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Risk Management and Derivatives - Additional Information (Detail) - USD ($)	3 Months Ended
	Aug. 31, 2021	May 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Credit risk related contingent features collateral threshold	$ 50,000,000
Deferred net gains (net of tax) on both outstanding and matured derivatives accumulated in other comprehensive income are expected to be reclassified to net income during the next twelve months as a result of underlying hedged transactions also being recorded in net income	$ 10,000,000
Maximum term over which the Company is hedging exposures to the variability of cash flows for its forecasted and recorded transactions (in months)	24 months
Derivative instruments in net liability position	$ 11,000,000
Not designated as derivative instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	4,400,000,000
Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	$ 502,000,000
Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional period for forecasted transaction expected to occur	2 months
Total notional amount of outstanding derivatives	$ 15,200,000,000
Cash and Cash Equivalents
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value of collateral	0
Cash and Cash Equivalents \| Foreign exchange forwards and options
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value of collateral	$ 0	$ 0

Risk Management and Derivatives - FV of Derivative Instruments Included within Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	$ 247	$ 92
DERIVATIVE LIABILITIES	131	457
Derivatives formally designated as hedging instruments
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	220	58
DERIVATIVE LIABILITIES	106	426
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	151	42
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	69	16
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Accrued liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	106	385
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	0	41
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	27	34
DERIVATIVE LIABILITIES	25	31
Derivatives not designated as hedging instruments \| Foreign exchange forwards and options \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	27	34
Derivatives not designated as hedging instruments \| Foreign exchange forwards and options \| Accrued liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	21	30
Derivatives not designated as hedging instruments \| Embedded derivatives \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	0	0
Derivatives not designated as hedging instruments \| Embedded derivatives \| Accrued liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	$ 4	$ 1

Risk Management and Derivatives - Effects Of Cash Flow Hedges in Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Revenues	$ 12,248	$ 10,594
Cost of sales	6,552	5,853
Demand creation expense	918	677
Other (income) expense, net	(39)	(14)
Interest expense (income), net	57	65
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	(97)	135
Foreign exchange forwards and options \| Revenue \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	(21)	14
Foreign exchange forwards and options \| Cost of sales \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	(66)	114
Foreign exchange forwards and options \| Demand creation expense \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	1	1
Foreign exchange forwards and options \| Other (income) expense, net \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	(9)	8
Interest rate swaps \| Interest (income) expense, net \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	$ (2)	$ (2)

Risk Management and Derivatives - Amounts Affecting Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Foreign Exchange Contract \| Other (income) expense, net \| Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED  IN INCOME ON DERIVATIVES	$ 23	$ (38)
Embedded derivatives \| Other (income) expense, net \| Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED  IN INCOME ON DERIVATIVES	(5)	(4)
Derivatives designated as cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	388	(530)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(97)	135
Derivatives designated as cash flow hedges \| Foreign Exchange Contract \| Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(6)	0
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(21)	14
Derivatives designated as cash flow hedges \| Foreign Exchange Contract \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	265	(371)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(66)	114
Derivatives designated as cash flow hedges \| Foreign Exchange Contract \| Demand creation expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(1)	1
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	1	1
Derivatives designated as cash flow hedges \| Foreign Exchange Contract \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	130	(160)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(9)	8
Derivatives designated as cash flow hedges \| Interest rate swaps \| Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	0	0
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	$ (2)	$ (2)

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 12,767	$ 8,055
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	229	(221)
Reclassifications to net income of previously deferred (gains) losses, net of tax	84	(124)
Total other comprehensive income (loss), net of tax	313	(345)
Ending balance	14,343	9,224
Other comprehensive income, before reclassification, tax benefit (expense)	(41)	5
Reclassification from AOCI, current period, tax expense (benefit)	(7)	3
Gains (losses) on foreign currency translation adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2	(494)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	(128)	318
Reclassifications to net income of previously deferred (gains) losses, net of tax	0	0
Total other comprehensive income (loss), net of tax	(128)	318
Ending balance	(126)	(176)
Other comprehensive income, before reclassification, tax benefit (expense)	0	0
Reclassification from AOCI, current period, tax expense (benefit)	0	0
CASH FLOW HEDGES
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(435)	390
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	349	(526)
Reclassifications to net income of previously deferred (gains) losses, net of tax	89	(132)
Total other comprehensive income (loss), net of tax	438	(658)
Ending balance	3	(268)
Other comprehensive income, before reclassification, tax benefit (expense)	(39)	4
Reclassification from AOCI, current period, tax expense (benefit)	(8)	3
Net Investment Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	115	115
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	0	0
Reclassifications to net income of previously deferred (gains) losses, net of tax	0	0
Total other comprehensive income (loss), net of tax	0	0
Ending balance	115	115
Other comprehensive income, before reclassification, tax benefit (expense)	0	0
Reclassification from AOCI, current period, tax expense (benefit)	0	0
OTHER
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(62)	(67)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	8	(13)
Reclassifications to net income of previously deferred (gains) losses, net of tax	(5)	8
Total other comprehensive income (loss), net of tax	3	(5)
Ending balance	(59)	(72)
Other comprehensive income, before reclassification, tax benefit (expense)	(2)	1
Reclassification from AOCI, current period, tax expense (benefit)	1	0
TOTAL
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(380)	(56)
Other comprehensive income (loss):
Ending balance	$ (67)	$ (401)

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Revenues	$ 12,248	$ 10,594
Cost of sales	(6,552)	(5,853)
Demand creation expense	(918)	(677)
Interest expense (income), net	(57)	(65)
Other (income) expense, net	39	14
Income before income taxes	2,106	1,715
Tax benefit (expense)	(232)	(197)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss), net of tax	(84)	124
Gain (losses) on cash flow hedges \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(97)	135
Tax benefit (expense)	8	(3)
Gain (loss), net of tax	(89)	132
Gain (losses) on cash flow hedges \| Foreign exchange forwards and options \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Revenues	(21)	14
Cost of sales	(66)	114
Demand creation expense	1	1
Other (income) expense, net	(9)	8
Gain (losses) on cash flow hedges \| Interest rate swaps \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest expense (income), net	(2)	(2)
OTHER \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	6	(8)
Income before income taxes	6	(8)
Tax benefit (expense)	(1)	0
Gain (loss), net of tax	$ 5	$ (8)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
Revenues (Details) - USD ($) $ in Millions	Aug. 31, 2021	Aug. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 12,248	$ 10,594
Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	7,312	6,737
Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	4,921	3,821
Other
Disaggregation of Revenue [Line Items]
Revenues	15	36
Footwear
Disaggregation of Revenue [Line Items]
Revenues	8,285	7,281
Apparel
Disaggregation of Revenue [Line Items]
Revenues	3,474	2,897
Equipment
Disaggregation of Revenue [Line Items]
Revenues	474	380
Other
Disaggregation of Revenue [Line Items]
Revenues	15	36
Operating Segments \| NIKE Brand
Disaggregation of Revenue [Line Items]
Revenues	11,640	10,018
Operating Segments \| NIKE Brand \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	6,943	6,364
Operating Segments \| NIKE Brand \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	4,690	3,650
Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	7	4
Operating Segments \| NIKE Brand \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	7,718	6,768
Operating Segments \| NIKE Brand \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	3,450	2,875
Operating Segments \| NIKE Brand \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	465	371
Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	7	4
Operating Segments \| Converse
Disaggregation of Revenue [Line Items]
Revenues	629	563
Operating Segments \| Converse \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	369	373
Operating Segments \| Converse \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	231	171
Operating Segments \| Converse \| Other
Disaggregation of Revenue [Line Items]
Revenues	29	19
Operating Segments \| Converse \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	567	513
Operating Segments \| Converse \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	24	22
Operating Segments \| Converse \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	9	9
Operating Segments \| Converse \| Other
Disaggregation of Revenue [Line Items]
Revenues	29	19
Global Brand Divisions
Disaggregation of Revenue [Line Items]
Revenues	7	4
Global Brand Divisions \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	0	0
Global Brand Divisions \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0
Global Brand Divisions \| Other
Disaggregation of Revenue [Line Items]
Revenues	7	4
Global Brand Divisions \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	0	0
Global Brand Divisions \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	0	0
Global Brand Divisions \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	0	0
Global Brand Divisions \| Other
Disaggregation of Revenue [Line Items]
Revenues	7	4
Corporate
Disaggregation of Revenue [Line Items]
Revenues	(21)	13
Corporate \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate \| Other
Disaggregation of Revenue [Line Items]
Revenues	(21)	13
Corporate \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	0	0
Corporate \| Other
Disaggregation of Revenue [Line Items]
Revenues	(21)	13
North America \| Operating Segments \| NIKE Brand
Disaggregation of Revenue [Line Items]
Revenues	4,879	4,225
North America \| Operating Segments \| NIKE Brand \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	2,678	2,719
North America \| Operating Segments \| NIKE Brand \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	2,201	1,506
North America \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
North America \| Operating Segments \| NIKE Brand \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	3,264	2,957
North America \| Operating Segments \| NIKE Brand \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	1,430	1,125
North America \| Operating Segments \| NIKE Brand \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	185	143
North America \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand
Disaggregation of Revenue [Line Items]
Revenues	3,307	2,910
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	2,224	1,973
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	1,083	937
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	1,983	1,802
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	1,159	971
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	165	137
Europe, Middle East & Africa \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Greater China \| Operating Segments \| NIKE Brand
Disaggregation of Revenue [Line Items]
Revenues	1,982	1,780
Greater China \| Operating Segments \| NIKE Brand \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	1,114	964
Greater China \| Operating Segments \| NIKE Brand \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	868	816
Greater China \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Greater China \| Operating Segments \| NIKE Brand \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	1,449	1,251
Greater China \| Operating Segments \| NIKE Brand \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	476	478
Greater China \| Operating Segments \| NIKE Brand \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	57	51
Greater China \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand
Disaggregation of Revenue [Line Items]
Revenues	1,465	1,099
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	927	708
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	538	391
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	1,022	758
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	385	301
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	58	40
Asia Pacific & Latin America \| Operating Segments \| NIKE Brand \| Other
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0

Operating Segments - Information by Operating Segments (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 12,248	$ 10,594
Interest expense (income), net	57	65
Income before income taxes	2,106	1,715
Global Brand Divisions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	7	4
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	(21)	13
EARNINGS BEFORE INTEREST AND TAXES	(545)	(497)
NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	11,640	10,018
Converse \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	629	563
NIKE Brand \| Global Brand Divisions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	7	4
EARNINGS BEFORE INTEREST AND TAXES	(987)	(853)
NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	11,640	10,018
Converse \| Converse \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	629	563
EARNINGS BEFORE INTEREST AND TAXES	204	168
North America \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,879	4,225
North America \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,879	4,225
EARNINGS BEFORE INTEREST AND TAXES	1,434	1,302
Europe, Middle East & Africa \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,307	2,910
Europe, Middle East & Africa \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,307	2,910
EARNINGS BEFORE INTEREST AND TAXES	875	692
Greater China \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,982	1,780
Greater China \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,982	1,780
EARNINGS BEFORE INTEREST AND TAXES	701	688
Asia Pacific & Latin America \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,465	1,099
Asia Pacific & Latin America \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,465	1,099
EARNINGS BEFORE INTEREST AND TAXES	$ 481	$ 280

Operating Segments - Accounts Receivable Net Inventories and Property Plant and Equipment Net by Operating Segments (Detail) - USD ($) $ in Millions	Aug. 31, 2021	May 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	$ 4,341	$ 4,463
Inventories	6,699	6,854
Property, plant and equipment, net	4,869	4,904
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	57	53
Inventories	(51)	(175)
Property, plant and equipment, net	1,840	1,870
Converse \| Converse \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	224	225
Inventories	263	290
Property, plant and equipment, net	58	63
NIKE Brand \| Global Brand Divisions
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	97	128
Inventories	188	153
Property, plant and equipment, net	786	780
NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	4,060	4,185
Inventories	6,487	6,739
Property, plant and equipment, net	2,971	2,971
North America \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	1,445	1,777
Inventories	2,851	2,851
Property, plant and equipment, net	621	617
Europe, Middle East & Africa \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	1,489	1,349
Inventories	1,632	1,821
Property, plant and equipment, net	966	982
Greater China \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	348	288
Inventories	1,148	1,247
Property, plant and equipment, net	287	288
Asia Pacific & Latin America \| NIKE Brand \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	681	643
Inventories	668	667
Property, plant and equipment, net	$ 311	$ 304

Acquisitions And Divestitures (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2021	May 31, 2021	May 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Allowance for expected loss on sale	$ 344	$ 358
Discontinued Operations, Held-for-sale \| Grupo Axo \| Argentina, Chile And Uruguay \| NIKE Brand Businesses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets, held-for-sale	203	175
Accounts receivable, held-for-sale	87	59
Inventories, held-for-sale	66	76
Liabilities, held-for-sale	89	72
Accounts payable, held-for-sale	28	25
Accrued liabilities, held-for-sale	28	$ 22
Other Income (Expense) \| Discontinued Operations, Held-for-sale \| Grupo Axo \| Argentina, Chile And Uruguay \| NIKE Brand Businesses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-recurring impairment charge	$ 344
Allowance for expected loss on sale			$ 405