Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	May 31, 2018	Jul. 20, 2018	Nov. 30, 2017
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	NKE
Entity Registrant Name	NIKE INC
Entity Central Index Key	0000320187
Current Fiscal Year End Date	--05-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Public Float (In Dollars)			$ 82,568,152,391
Class A Convertible Common Stock
Document Information [Line Items]
Entity Public Float (In Dollars)			4,475,052,736
Entity Common Stock Shares Outstanding (In Shares)		320,065,752
Class B Common Stock
Document Information [Line Items]
Entity Public Float (In Dollars)			$ 78,093,099,655
Entity Common Stock Shares Outstanding (In Shares)		1,280,488,786

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	May 31, 2018	May 31, 2017	May 31, 2016
Income Statement [Abstract]
Revenues	$ 36,397	$ 34,350	$ 32,376
Cost of sales	20,441	19,038	17,405
Gross profit	15,956	15,312	14,971
Demand creation expense	3,577	3,341	3,278
Operating overhead expense	7,934	7,222	7,191
Total selling and administrative expense	11,511	10,563	10,469
Interest expense (income), net	54	59	19
Other expense (income), net	66	(196)	(140)
Income before income taxes	4,325	4,886	4,623
Income tax expense	2,392	646	863
NET INCOME	$ 1,933	$ 4,240	$ 3,760
Earnings per common share:
Basic (in dollars per share)	$ 1.19	$ 2.56	$ 2.21
Diluted (in dollars per share)	1.17	2.51	2.16
Dividends declared per common share (in dollars per share)	$ 0.78	$ 0.70	$ 0.62

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 1,933	$ 4,240	$ 3,760
Other comprehensive income (loss), net of tax:
Change in net foreign currency translation adjustment	(6)	16	(176)
Change in net gains (losses) on cash flow hedges	76	(515)	(757)
Change in net gains (losses) on other	34	(32)	5
Total other comprehensive income (loss), net of tax	104	(531)	(928)
TOTAL COMPREHENSIVE INCOME	$ 2,037	$ 3,709	$ 2,832

Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Current assets:
Cash and equivalents	$ 4,249	$ 3,808
Short-term investments	996	2,371
Accounts receivable, net	3,498	3,677
Inventories	5,261	5,055
Prepaid expenses and other current assets	1,130	1,150
Total current assets	15,134	16,061
Property, plant and equipment, net	4,454	3,989
Identifiable intangible assets, net	285	283
Goodwill	154	139
Deferred income taxes and other assets	2,509	2,787
TOTAL ASSETS	22,536	23,259
Current liabilities:
Current portion of long-term debt	6	6
Notes payable	336	325
Accounts payable	2,279	2,048
Accrued liabilities	3,269	3,011
Income taxes payable	150	84
Total current liabilities	6,040	5,474
Long-term debt	3,468	3,471
Deferred income taxes and other liabilities	3,216	1,907
Commitments and contingencies (Note 15)
Redeemable preferred stock	0	0
Shareholders’ equity:
Capital in excess of stated value	6,384	5,710
Accumulated other comprehensive loss	(92)	(213)
Retained earnings	3,517	6,907
Total shareholders’ equity	9,812	12,407
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	22,536	23,259
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

Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	May 31, 2018	May 31, 2017
Class A Convertible Common Stock
Common Stock, shares outstanding	329	329
Class B Common Stock
Common Stock, shares outstanding	1,273	1,314

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Cash provided by operations:
Net income	$ 1,933	$ 4,240	$ 3,760
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	747	706	649
Deferred income taxes	647	(273)	(80)
Stock-based compensation	218	215	236
Amortization and other	27	10	13
Net foreign currency adjustments	(99)	(117)	98
Changes in certain working capital components and other assets and liabilities:
Decrease (increase) in accounts receivable	187	(426)	60
(Increase) in inventories	(255)	(231)	(590)
Decrease (increase) in prepaid expenses and other current and non-current assets	35	(120)	(161)
Increase (decrease) in accounts payable, accrued liabilities and other current and non-current liabilities	1,515	(158)	(586)
Cash provided by operations	4,955	3,846	3,399
Cash provided (used) by investing activities:
Purchases of short-term investments	(4,783)	(5,928)	(5,367)
Maturities of short-term investments	3,613	3,623	2,924
Sales of short-term investments	2,496	2,423	2,386
Investments in reverse repurchase agreements	0	0	150
Additions to property, plant and equipment	(1,028)	(1,105)	(1,143)
Disposals of property, plant and equipment	3	13	10
Other investing activities	(25)	(34)	6
Cash provided (used) by investing activities	276	(1,008)	(1,034)
Cash used by financing activities:
Net proceeds from long-term debt issuance	0	1,482	981
Long-term debt payments, including current portion	(6)	(44)	(106)
Increase (decrease) in notes payable	13	327	(67)
Payments on capital lease and other financing obligations	(23)	(17)	(7)
Proceeds from exercise of stock options and other stock issuances	733	489	507
Repurchase of common stock	(4,254)	(3,223)	(3,238)
Dividends — common and preferred	(1,243)	(1,133)	(1,022)
Tax payments for net share settlement of equity awards	(55)	(29)	(22)
Cash used by financing activities	(4,835)	(2,148)	(2,974)
Effect of exchange rate changes on cash and equivalents	45	(20)	(105)
Net increase (decrease) in cash and equivalents	441	670	(714)
Cash and equivalents, beginning of year	3,808	3,138	3,852
CASH AND EQUIVALENTS, END OF YEAR	4,249	3,808	3,138
Cash paid during the year for:
Interest, net of capitalized interest	125	98	70
Income taxes	529	703	748
Non-cash additions to property, plant and equipment	294	266	252
Dividends declared and not paid	$ 320	$ 300	$ 271

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Capital in Excess of Stated Value	Accumulated Other Comprehensive Income	Retained Earnings	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Beginning Balance (in shares) at May. 31, 2015						355		1,357
Beginning balance at May. 31, 2015	$ 12,707	$ 4,165	$ 1,246	$ 7,293		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								22
Stock options exercised	680	680
Conversion to Class B Common Stock (in shares)						(2)		2
Conversion to Class B Common Stock	0
Repurchase of Class B Common Stock (in shares)								(55)
Repurchase of Class B Common Stock	(3,238)	(148)		(3,090)
Dividends on common stock and preferred stock	(1,053)			(1,053)
Issuance of shares to employees, net of shares withheld for employee taxes (in shares)								3
Issuance of shares to employees, net of shares withheld for employee taxes	94	105		(11)
Stock-based compensation	236	236
Net income	3,760			3,760
Other comprehensive income (loss)	(928)		(928)
Ending Balance (in shares) at May. 31, 2016						353		1,329
Ending balance at May. 31, 2016	12,258	5,038	318	6,899		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								17
Stock options exercised	525	525
Conversion to Class B Common Stock (in shares)						(24)		24
Conversion to Class B Common Stock	0
Repurchase of Class B Common Stock (in shares)								(60)
Repurchase of Class B Common Stock	(3,249)	(189)		(3,060)
Dividends on common stock and preferred stock	(1,159)			(1,159)
Issuance of shares to employees, net of shares withheld for employee taxes (in shares)								4
Issuance of shares to employees, net of shares withheld for employee taxes	108	121		(13)
Stock-based compensation	215	215
Net income	4,240			4,240
Other comprehensive income (loss)	(531)		(531)
Ending Balance (in shares) at May. 31, 2017					329	329	1,314	1,314
Ending balance at May. 31, 2017	12,407	5,710	(213)	6,907		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								24
Stock options exercised	600	600
Conversion to Class B Common Stock (in shares)						0		0
Conversion to Class B Common Stock	0
Repurchase of Class B Common Stock (in shares)								(70)
Repurchase of Class B Common Stock	(4,267)	(254)		(4,013)
Dividends on common stock and preferred stock	(1,265)			(1,265)
Issuance of shares to employees, net of shares withheld for employee taxes (in shares)								4
Issuance of shares to employees, net of shares withheld for employee taxes	82	110		(28)
Stock-based compensation	218	218
Net income	1,933			1,933
Other comprehensive income (loss)	104		104
Ending Balance (in shares) at May. 31, 2018					329	329	1,273	1,272
Ending balance at May. 31, 2018	$ 9,812	$ 6,384	(92)	3,517		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassifications to retained earnings in accordance with ASU 2018-02 \| Accounting Standards Update 2018-02			$ 17	$ (17)

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.78	$ 0.70	$ 0.62
Dividends declared per preferred share (in dollars per share)	$ 0.10	$ 0.10	$ 0.10

Summary of Significant Accounting Policies

12 Months Ended

May 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 1 — Summary of Significant Accounting Policies

Description of Business

NIKE, Inc. is a worldwide leader in the design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and services. NIKE, Inc. portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse. The NIKE Brand is focused on performance athletic footwear, apparel, equipment, accessories and services across a wide range of sport categories, amplified with sport-inspired sportswear products carrying the Swoosh trademark, as well as other NIKE Brand trademarks. The Jordan Brand is focused on athletic and casual footwear, apparel and accessories using the Jumpman trademark. Sales and operating results of Jordan Brand products are reported within the respective NIKE Brand geographic operating segments. The Hurley brand is focused on surf and action sports and youth lifestyle footwear, apparel and accessories, using the Hurley trademark. Sales and operating results of Hurley brand products are reported within the NIKE Brand’s North America geographic operating segment. Converse designs, distributes, markets and sells casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell trademarks. In some markets outside the U.S., these trademarks are licensed to third parties who design, distribute, market and sell similar products. Operating results of the Converse brand are reported on a stand-alone basis.

Basis of Consolidation

The Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

On November 19, 2015, the Company announced a two-for-one split of both NIKE Class A and Class B Common Stock. The stock split was in the form of a 100 percent stock dividend payable on December 23, 2015 to shareholders of record at the close of business on December 9, 2015. Common stock began trading at the split-adjusted price on December 24, 2015. All share and per share amounts presented reflect the stock split.

Reclassifications

Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation, including reclassified geographic operating segment data to reflect the changes in the Company’s operating structure, which became effective on June 1, 2017. Refer to Note 17 — Operating Segments and Related Information for additional information.

During the fourth quarter of fiscal 2018, management identified a misstatement related to the historical allocation of repurchases of Class B Common stock between Capital in excess of stated value and Retained earnings. The Company assessed the materiality of these misstatements on prior period financial statements in accordance with U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 99, Materiality, codified in ASC 250, Presentation of Financial Statements, and concluded that these misstatements were not material to any prior annual or interim period. As such, the Company has revised the Consolidated Balance Sheets as of May 31, 2017, and has reduced Capital in excess of stated value by $2.9 billion and increased Retained earnings by the same amount. Within the Consolidated Statements of Shareholders’ Equity, the Company has made corresponding revisions of $2.6 billion, $0.1 billion and $0.2 billion for the periods ended May 31, 2015, 2016 and, 2017, respectively.

Revenue Recognition

Wholesale revenues are recognized when title and the risks and rewards of ownership have passed to the customer, based on the terms of sale. This occurs upon shipment or upon receipt by the customer depending on the country of the sale and the agreement with the customer. Retail store revenues are recorded at the time of sale and digital commerce revenues are recorded upon delivery to the customer. Amounts collected from customers for sales or value added tax are recorded on a net basis. Provisions for post-invoice sales discounts, returns and miscellaneous claims from customers are estimated and recorded as a reduction to revenue at the time of sale. Post-invoice sales discounts consist of contractual programs with certain customers or discretionary discounts expected to be granted to certain customers at a later date. Estimates of discretionary discounts, returns and claims are based on (1) historical rates, (2) specific identification of outstanding claims and outstanding returns not yet received from customers and (3) estimated discounts, returns and claims expected, but not yet finalized with customers. As of May 31, 2018 and 2017, the Company’s reserve balances for post-invoice sales discounts, returns and miscellaneous claims were $675 million and $643 million, respectively.

Cost of Sales

Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), third-party royalties, certain foreign currency hedge gains and losses and product design costs. Outbound shipping and handling costs are expensed as incurred and included in Cost of sales.

Demand Creation Expense

Demand creation expense consists of advertising and promotion costs, including costs of endorsement contracts, complimentary product, television, digital and print advertising and media costs, brand events and retail brand presentation. Advertising production costs are expensed the first time an advertisement is run. Advertising media costs are expensed when the advertisement appears. Costs related to brand events are expensed when the event occurs. Costs related to retail brand presentation are expensed when the presentation is complete and delivered.

A significant amount of the Company’s promotional expenses result from payments under endorsement contracts. In general, endorsement payments are expensed on a straight-line basis over the term of the contract. However, certain contract elements may be accounted for differently based upon the facts and circumstances of each individual contract. Prepayments made under contracts are included in Prepaid expenses and other current assets or Deferred income taxes and other assets depending on the period to which the prepayment applies.

Certain contracts provide for contingent payments to endorsers based upon specific achievements in their sports (e.g., winning a championship). The Company records Demand creation expense for these amounts when the endorser achieves the specific goal.

Certain contracts provide for variable payments based upon endorsers maintaining a level of performance in their sport over an extended period of time (e.g., maintaining a specified ranking in a sport for a year). When the Company determines payments are probable, the amounts are reported in Demand creation expense ratably over the contract period based on the Company’s best estimate of the endorser’s performance. In these instances, to the extent actual payments to the endorser differ from the Company’s estimate due to changes in the endorser’s performance, adjustments to Demand creation expense may be recorded in a future period.

Certain contracts provide for royalty payments to endorsers based upon a predetermined percent of sales of particular products. The Company expenses these payments in Cost of sales as the related sales occur. In certain contracts, the Company offers minimum guaranteed royalty payments. For contracts the Company estimates will not meet the minimum guaranteed amount of royalty fees through sales of product, the Company records the amount of the guaranteed payment in excess of that earned through sales of product in Demand creation expense uniformly over the contract period.

Through cooperative advertising programs, the Company reimburses customers for certain costs of advertising the Company’s products. The Company records these costs in Demand creation expense at the point in time when it is obligated to its customers for the costs. This obligation may arise prior to the related advertisement being run.

Total advertising and promotion expenses, which the Company refers to as Demand creation expense, were $3,577 million, $3,341 million and $3,278 million for the years ended May 31, 2018, 2017 and 2016, respectively. Prepaid advertising and promotion expenses totaled $730 million and $558 million at May 31, 2018 and 2017, respectively, of which $359 million and $311 million, respectively, was recorded in Prepaid expenses and other current assets, and $371 million and $247 million, respectively, was recorded in Deferred income taxes and other assets, depending on the period to which the prepayment applies.

Operating Overhead Expense

Operating overhead expense consists primarily of wage and benefit-related expenses, research and development costs, as well as other administrative expenses, such as rent, depreciation and amortization, professional services, meetings and travel.

Cash and Equivalents

Cash and equivalents represent cash and short-term, highly liquid investments, that are both readily convertible to known amounts of cash, and so near their maturity they present insignificant risk of changes in value because of changes in interest rates, including commercial paper, U.S. Treasury, U.S. Agency, money market funds, time deposits and corporate debt securities with maturities of 90 days or less at the date of purchase.

Short-Term Investments

Short-term investments consist of highly liquid investments, including commercial paper, U.S. Treasury, U.S. Agency, time deposits and corporate debt securities, with maturities over 90 days at the date of purchase. Debt securities the Company has the ability and positive intent to hold to maturity are carried at amortized cost. At May 31, 2018 and 2017, the Company did not hold any short-term investments classified as trading or held-to-maturity.

At May 31, 2018 and 2017, Short-term investments consisted of available-for-sale securities. Available-for-sale securities are recorded at fair value with unrealized gains and losses reported, net of tax, in Accumulated other comprehensive income, unless unrealized losses are determined to be other than temporary. Realized gains and losses on the sale of securities are determined by specific identification. The Company considers all available-for-sale securities, including those with maturity dates beyond 12 months, as available to support current operational liquidity needs and, therefore, classifies all securities with maturity dates beyond 90 days at the date of purchase as current assets within Short-term investments on the Consolidated Balance Sheets.

Refer to Note 6 — Fair Value Measurements for more information on the Company’s short-term investments.

Allowance for Uncollectible Accounts Receivable

Accounts receivable, net consist primarily of amounts receivable from customers. The Company makes ongoing estimates relating to the collectability of its accounts receivable and maintains an allowance for estimated losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance, the Company considers historical levels of credit losses and makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations. Accounts receivable with anticipated collection dates greater than 12 months from the balance sheet date and related allowances are considered non-current and recorded in Deferred income taxes and other assets. The allowance for uncollectible accounts receivable was $30 million and $19 million at May 31, 2018 and 2017, respectively.

Inventory Valuation

Inventories are stated at lower of cost and net realizable value, and valued on either an average or a specific identification cost basis. In some instances, we ship product directly from our supplier to the customer, with the related inventory and cost of sales recognized on a specific identification basis. Inventory costs primarily consist of product cost from the Company’s suppliers, as well as inbound freight, import duties, taxes, insurance and logistics and other handling fees.

Property, Plant and Equipment and Depreciation

Property, plant and equipment are recorded at cost. Depreciation is determined on a straight-line basis for land improvements, buildings and leasehold improvements over 2 to 40 years and for machinery and equipment over 2 to 15 years.

Depreciation and amortization of assets used in manufacturing, warehousing and product distribution are recorded in Cost of sales. Depreciation and amortization of all other assets are recorded in Operating overhead expense.

Software Development Costs

Internal Use Software: Expenditures for major software purchases and software developed for internal use are capitalized and amortized over a 2 to 12-year period on a straight-line basis. The Company’s policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred.

Computer Software to be Sold, Leased or Otherwise Marketed: Development costs of computer software to be sold, leased or otherwise marketed as an integral part of a product are subject to capitalization beginning when a product’s technological feasibility has been established and ending when a product is available for general release to customers. In most instances, the Company’s products are released soon after technological feasibility has been established. Therefore, software development costs incurred subsequent to achievement of technological feasibility are usually not significant, and generally most software development costs have been expensed as incurred.

Impairment of Long-Lived Assets

The Company reviews the carrying value of long-lived assets or asset groups to be used in operations whenever events or changes in circumstances indicate the carrying amount of the assets might not be recoverable. Factors that would necessitate an impairment assessment include a significant adverse change in the extent or manner in which an asset is used, a significant adverse change in legal factors or the business climate that could affect the value of the asset or a significant decline in the observable market value of an asset, among others. If such facts indicate a potential impairment, the Company would assess the recoverability of an asset group by determining if the carrying value of the asset group exceeds the sum of the projected undiscounted cash flows expected to result from the use and eventual disposition of the assets over the remaining economic life of the primary asset in the asset group. If the recoverability test indicates that the carrying value of the asset group is not recoverable, the Company will estimate the fair value of the asset group using appropriate valuation methodologies, which would typically include an estimate of discounted cash flows. Any impairment would be measured as the difference between the asset group’s carrying amount and its estimated fair value.

Goodwill and Indefinite-Lived Intangible Assets

The Company performs annual impairment tests on goodwill and intangible assets with indefinite lives in the fourth quarter of each fiscal year or when events occur or circumstances change that would, more likely than not, reduce the fair value of a reporting unit or an intangible asset with an indefinite life below its carrying value. Events or changes in circumstances that may trigger interim impairment reviews include significant changes in business climate, operating results, planned investments in the reporting unit, planned divestitures or an expectation the carrying amount may not be recoverable, among other factors. The Company may first assess qualitative factors to determine whether it is more likely than not the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, the Company determines it is more likely than not the fair value of the reporting unit is greater than its carrying amount, the two-step impairment test is unnecessary. The two-step impairment test first requires the Company to estimate the fair value of its reporting units. If the carrying value of a reporting unit exceeds its fair value, the goodwill of that reporting unit is potentially impaired and the Company proceeds to step two of the impairment analysis. In step two of the analysis, the Company measures and records an impairment loss equal to the excess of the carrying value of the reporting unit’s goodwill over its implied fair value, if any.

Indefinite-lived intangible assets primarily consist of acquired trade names and trademarks. The Company may first perform a qualitative assessment to determine whether it is more likely than not an indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, the Company determines it is more likely than not that the indefinite-lived intangible asset is not impaired, no quantitative fair value measurement is necessary. If a quantitative fair value measurement calculation is required for these intangible assets, the Company utilizes the relief-from-royalty method. This method assumes trade names and trademarks have value to the extent their owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires the Company to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital.

Operating Leases

The Company leases retail store space, certain distribution and warehouse facilities, office space, equipment and other non-real estate assets under operating leases. Operating lease agreements may contain rent escalation clauses, renewal options, rent holidays or certain landlord incentives, including tenant improvement allowances. Rent expense for non-cancelable operating leases with scheduled rent increases or landlord incentives are recognized on a straight-line basis over the lease term, beginning with the effective lease commencement date, which is generally the date in which the Company takes possession of or controls the physical use of the property. Certain leases also provide for contingent rent, which is generally determined as a percent of sales in excess of specified levels. A contingent rent liability is recognized together with the corresponding rent expense when specified levels have been achieved or when the Company determines that achieving the specified levels during the period is probable.

Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives and available-for-sale securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach).

The levels of the fair value hierarchy are described below:


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Inputs other than observable quoted prices for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.


•	Level 3: Unobservable inputs with little or no market data available, which require the reporting entity to develop its own assumptions.

The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement.

Pricing vendors are utilized for a majority of Level 1 and Level 2 investments. These vendors either provide a quoted market price in an active market or use observable inputs without applying significant adjustments in their pricing. Observable inputs include broker quotes, interest rates and yield curves observable at commonly quoted intervals, volatilities and credit risks. The fair value of derivative contracts is determined using observable market inputs such as the daily market foreign currency rates, forward pricing curves, currency volatilities, currency correlations and interest rates and considers nonperformance risk of the Company and its counterparties.

Level 1 investments include U.S. Treasury securities. Assets and liabilities included within Level 2 include commercial paper, U.S. Agency securities, money market funds, time deposits, corporate debt securities and derivative contracts. Level 3 investments are valued using internally developed models with unobservable inputs and are an immaterial portion of our portfolio.

The Company’s fair value measurement process includes comparing fair values to another independent pricing vendor to ensure appropriate fair values are recorded.

Refer to Note 6 — Fair Value Measurements for additional information.

Foreign Currency Translation and Foreign Currency Transactions

Adjustments resulting from translating foreign functional currency financial statements into U.S. Dollars are included in the foreign currency translation adjustment, a component of Accumulated other comprehensive income in Total shareholders’ equity.

The Company’s global subsidiaries have various assets and liabilities, primarily receivables and payables, which are denominated in currencies other than their functional currency. These balance sheet items are subject to re-measurement, the impact of which is recorded in Other expense (income), net, within the Consolidated Statements of Income.

Accounting for Derivatives and Hedging Activities

The Company uses derivative financial instruments to reduce its exposure to changes in foreign currency exchange rates and interest rates. All derivatives are recorded at fair value on the Consolidated Balance Sheets and changes in the fair value of derivative financial instruments are either recognized in Accumulated other comprehensive income (a component of Total shareholders’ equity), Long-term debt or Net income depending on the nature of the underlying exposure, whether the derivative is formally designated as a hedge and, if designated, the extent to which the hedge is effective. The Company classifies the cash flows at settlement from derivatives in the same category as the cash flows from the related hedged items. For undesignated hedges and designated cash flow hedges, this is primarily within the Cash provided by operations component of the Consolidated Statements of Cash Flows. For designated net investment hedges, this is within the Cash used by investing activities component of the Consolidated Statements of Cash Flows. For the Company’s fair value hedges, which are interest rate swaps used to mitigate the change in fair value of its fixed-rate debt attributable to changes in interest rates, the related cash flows from periodic interest payments are reflected within the Cash provided by operations component of the Consolidated Statements of Cash Flows. Refer to Note 16 — Risk Management and Derivatives for additional information on the Company’s risk management program and derivatives.

Stock-Based Compensation

The Company accounts for stock-based compensation by estimating the fair value of options and stock appreciation rights granted under the NIKE, Inc. Stock Incentive Plan and employees’ purchase rights under the employee stock purchase plans (ESPPs) using the Black-Scholes option pricing model. The Company recognizes this fair value as Cost of sales or Operating overhead expense, as applicable, in the Consolidated Statements of Income over the vesting period using the straight-line method.

Refer to Note 11 — Common Stock and Stock-Based Compensation for additional information on the Company’s stock-based compensation programs.

Income Taxes

The Company accounts for income taxes using the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The Company records a valuation allowance to reduce deferred tax assets to the amount management believes is more likely than not to be realized.

The Company recognizes a tax benefit from uncertain tax positions in the financial statements only when it is more likely than not the position will be sustained upon examination by relevant tax authorities. The Company recognizes interest and penalties related to income tax matters in Income tax expense.

Refer to Note 9 — Income Taxes for further discussion.

Earnings Per Share

Basic earnings per common share is calculated by dividing Net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated by adjusting weighted average outstanding shares, assuming conversion of all potentially dilutive stock options and awards.

Refer to Note 12 — Earnings Per Share for further discussion.

Management Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates, including estimates relating to assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Recently Adopted Accounting Standards

In February 2018, the FASB issued Accounting Standards Update (ASU) No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The standard allows for reclassification of stranded tax effects on items resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from Accumulated other comprehensive income to Retained earnings. Tax effects unrelated to the Tax Act are released from Accumulated other comprehensive income using either the specific identification approach or the portfolio approach based on the nature of the underlying item.

The Company early adopted the ASU in the third quarter of fiscal 2018. As a result of the adoption, Retained earnings decreased by $17 million, with a corresponding increase to Accumulated other comprehensive income due to the reduction in the corporate tax rate from 35% to 21%. Refer to Note 9 — Income Taxes for additional information on the impact of the Tax Act.

In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which changes how companies account for certain aspects of share-based payment awards to employees. The Company adopted the ASU in the first quarter of fiscal 2018. The updated guidance requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the income statement. Previously, excess tax benefits and deficiencies were recognized in shareholders’ equity on the balance sheet. This change is required to be applied prospectively. As a result of the adoption, during fiscal 2018, the Company recognized $230 million of excess tax benefits related to share-based payment awards in Income tax expense in the Consolidated Statements of Income.

Additionally, ASU 2016-09 modified the classification of certain share-based payment activities within the statement of cash flows, which the Company applied retrospectively. As a result, for fiscal 2017 and fiscal 2016, the Company reclassified cash inflows of $177 million and $281 million, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations, and reclassified cash outflows of $29 million and $22 million, for the respective periods, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows.

Recently Issued Accounting Standards

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The update to the standard is effective for the Company on June 1, 2019, with early adoption permitted in any interim period. The Company is currently evaluating the updated guidance, but does not expect the adoption to have a material impact on the Consolidated Financial Statements.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. The updated guidance requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company will adopt the standard on June 1, 2018, using a modified retrospective approach, with the cumulative effect of applying the new standard recognized in retained earnings at the date of adoption. Upon adoption, the Company will record a cumulative effect adjustment reducing Retained earnings, Deferred income taxes and other assets, and Prepaid expenses and other current assets by $507 million, $422 million and $45 million, respectively, and increasing Deferred income taxes and other liabilities by $40 million.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which replaces existing lease accounting guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. The new guidance will require the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company will adopt the standard on June 1, 2019. The ASU is required to be applied using a modified retrospective approach at the beginning of the earliest period presented, with optional practical expedients. The Company continues to assess the effect the guidance will have on its existing accounting policies and the Consolidated Financial Statements and expects there will be an increase in assets and liabilities on the Consolidated Balance Sheets at adoption due to the recording of right-of-use assets and corresponding lease liabilities, which may be material. Refer to Note 15 — Commitments and Contingencies for information about the Company’s lease obligations.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The updated guidance enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The update to the standard is effective for the Company beginning June 1, 2018. The Company does not expect the adoption to have a material impact on the Consolidated Financial Statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which replaces existing revenue recognition guidance. The updated guidance requires companies to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires reporting companies to disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt the standard on June 1, 2018 using a modified retrospective approach with the cumulative effect of initially applying the new standard recognized in retained earnings at the date of adoption.

While the Company does not expect the adoption of this standard to have a material impact on the Company’s net Revenues in the Consolidated Statements of Income, revenues for certain wholesale transactions and substantially all digital commerce sales will be recognized upon shipment rather than upon delivery to the customer. Accordingly, the Company will record a cumulative effect adjustment increasing Retained earnings by approximately $23 million on June 1, 2018.

Additionally, provisions for post-invoice sales discounts, returns and miscellaneous claims will be recognized as accrued liabilities rather than as reductions to Accounts receivable, net; and the estimated cost of inventory associated with the provision for sales returns will be recorded within Prepaid expenses and other current assets on the Consolidated Balance Sheets. The remaining provisions of the standard are not expected to have a material impact on the Company’s Consolidated Financial Statements.

Inventories

12 Months Ended

May 31, 2018

Inventory Disclosure [Abstract]

Inventories

NOTE 2 — Inventories

Inventory balances of $5,261 million and $5,055 million at May 31, 2018 and 2017, respectively, were substantially all finished goods.

Property, Plant and Equipment

12 Months Ended

May 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

NOTE 3 — Property, Plant and Equipment

Property, plant and equipment, net included the following:



	As of May 31,
(In millions)	2018		2017
Land and improvements	$	331	$	285
Buildings	2,195		1,564
Machinery, equipment and internal-use software	4,230		3,867
Leasehold improvements	1,494		1,484
Construction in process	641		758
Total property, plant and equipment, gross	8,891		7,958
Less accumulated depreciation	4,437		3,969
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,454	$	3,989

Capitalized interest was not material for the years ended May 31, 2018, 2017 and 2016.

Identifiable Intangible Assets and Goodwill

12 Months Ended

May 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Identifiable Intangible Assets and Goodwill

NOTE 4 — Identifiable Intangible Assets and Goodwill

Identifiable intangible assets, net consist of indefinite-lived trademarks, which are not subject to amortization, and acquired trademarks and other intangible assets, which are subject to amortization.

The following table summarizes the Company’s Identifiable intangible assets, net balances as of May 31, 2018 and 2017:



	As of May 31,
	2018						2017
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired trademarks and other	$	22	$	18	$	4	$	19	$	17	$	2
Indefinite-lived trademarks	281		—		281		281		—		281
INDENTIFIABLE INTANGIBLE ASSETS, NET	$	303	$	18	$	285	$	300	$	17	$	283

Goodwill was $154 million and $139 million at May 31, 2018 and 2017, respectively, of which $65 million was included in the Converse segment for both periods. The remaining amounts were included in Global Brand Divisions for segment reporting purposes. There were no accumulated impairment balances for goodwill as of either period end.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accrued Liabilities

12 Months Ended

May 31, 2018

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

NOTE 5 — Accrued Liabilities

Accrued liabilities included the following:



	As of May 31,
(In millions)	2018		2017
Compensation and benefits, excluding taxes	$	897	$	871
Endorsement compensation	425		396
Dividends payable	320		300
Import and logistics costs	268		257
Taxes other than income taxes payable	224		196
Fair value of derivatives	184		168
Advertising and marketing	140		125
Collateral received from counterparties to hedging instruments	23		—
Other⁽¹⁾	788		698
TOTAL ACCRUED LIABILITIES	$	3,269	$	3,011


(1)	Other consists of various accrued expenses with no individual item accounting for more than 5% of the total Accrued liabilities balance at May 31, 2018 and 2017.

Fair Value Measurements

12 Months Ended

May 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 6 — Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of May 31, 2018 and 2017, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Refer to Note 1 — Summary of Significant Accounting Policies for additional detail regarding the Company’s fair value measurement methodology.



	As of May 31, 2018
(In millions)	Assets at Fair Value		Cash Equivalents		Short-term Investments		Other Long-term Assets
Cash	$	415	$	415	$	—	$	—
Level 1:
U.S. Treasury securities	1,178		500		678		—
Level 2:
Time deposits	925		907		18		—
U.S. Agency securities	102		100		2		—
Commercial paper and bonds	451		153		298		—
Money market funds	2,174		2,174		—		—
Total level 2	3,652		3,334		318		—
Level 3:
Non-marketable preferred stock	11		—		—		11
TOTAL	$	5,256	$	4,249	$	996	$	11



	As of May 31, 2017
(In millions)	Assets at Fair Value		Cash Equivalents		Short-term Investments		Other Long-term Assets
Cash	$	505	$	505	$	—	$	—
Level 1:
U.S. Treasury securities	1,545		159		1,386		—
Level 2:
Time deposits	813		769		44		—
U.S. Agency securities	522		150		372		—
Commercial paper and bonds	820		251		569		—
Money market funds	1,974		1,974		—		—
Total level 2	4,129		3,144		985		—
Level 3:
Non-marketable preferred stock	10		—		—		10
TOTAL	$	6,189	$	3,808	$	2,371	$	10

The Company elects to record the gross assets and liabilities of its derivative financial instruments on the Consolidated Balance Sheets. The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. Any amounts of cash collateral received related to these instruments associated with the Company’s credit-related contingent features are recorded in Cash and equivalents and Accrued liabilities, the latter of which would further offset against the Company’s derivative asset balance (refer to Note 16 — Risk Management and Derivatives). Any amounts of cash collateral posted related to these instruments associated with the Company’s credit-related contingent features are recorded in Prepaid expenses and other current assets, which would further offset against the Company’s derivative liability balance (refer to Note 16 — Risk Management and Derivatives). Cash collateral received or posted related to the Company’s credit related contingent features is presented in the Cash provided by operations component of the Consolidated Statements of Cash Flows. Any amounts of non-cash collateral received, such as securities, are not recorded on the Consolidated Balance Sheets pursuant to U.S. GAAP.

The following tables present information about the Company’s derivative assets and liabilities measured at fair value on a recurring basis as of May 31, 2018 and 2017, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement.



	As of May 31, 2018
	Derivative Assets						Derivative Liabilities
(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⁾	$	389	$	237	$	152	$	182	$	182	$	—
Embedded derivatives	11		3		8		8		2		6
TOTAL	$	400	$	240	$	160	$	190	$	184	$	6

(1)

If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $182 million as of May 31, 2018. As of that date, the Company had received $23 million of cash collateral from various counterparties related to these foreign exchange derivative instruments. No amount of collateral was posted on the Company’s derivative liability balance as of May 31, 2018.



	As of May 31, 2017
	Derivative Assets						Derivative Liabilities
(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⁾	$	231	$	216	$	15	$	246	$	166	$	80
Embedded derivatives	10		1		9		8		2		6
TOTAL	$	241	$	217	$	24	$	254	$	168	$	86


(1)	If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balance related to these foreign exchange derivative instruments.

Available-for-sale securities comprise investments in U.S. Treasury and Agency securities, time deposits, money market funds, corporate commercial paper and bonds. These securities are valued using market prices on both active markets (Level 1) and less active markets (Level 2). As of May 31, 2018, the Company held $960 million of available-for-sale securities with maturity dates within one year and $36 million with maturity dates over one year and less than five years within Short-term investments on the Consolidated Balance Sheets. The gross realized gains and losses on sales of available-for-sale securities were immaterial for the fiscal years ended May 31, 2018 and 2017. Unrealized gains and losses on available-for-sale securities included in Accumulated other comprehensive income were immaterial as of May 31, 2018 and 2017. The Company regularly reviews its available-for-sale securities for other-than-temporary impairment. For the years ended May 31, 2018 and 2017, the Company did not consider its securities to be other-than-temporarily impaired, and accordingly, did not recognize any impairment losses.

Included in Interest expense (income), net was interest income related to the Company’s available-for-sale securities of $70 million, $27 million and $12 million for the years ended May 31, 2018, 2017 and 2016, respectively.

The Company’s Level 3 assets comprise investments in certain non-marketable preferred stock. These Level 3 investments are an immaterial portion of the Company’s portfolio. Changes in Level 3 investment assets were immaterial during the years ended May 31, 2018 and 2017.

No transfers among the levels within the fair value hierarchy occurred during the years ended May 31, 2018 or 2017.

For additional information related to the Company’s derivative financial instruments, refer to Note 16 — Risk Management and Derivatives. For fair value information regarding Notes Payable and Long-term debt, refer to Note 7 — Short-Term Borrowings and Credit Lines and Note 8 — Long-Term Debt, respectively. The carrying amounts of other current financial assets and other current financial liabilities approximate fair value.

As of May 31, 2018 and 2017, assets or liabilities required to be measured at fair value on a non-recurring basis were immaterial.

- 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

Short-Term Borrowings and Credit Lines

12 Months Ended

May 31, 2018

Debt Disclosure [Abstract]

Short-Term Borrowings and Credit Lines

NOTE 7 — Short-Term Borrowings and Credit Lines

Notes payable and interest-bearing accounts payable to Sojitz Corporation of America (“Sojitz America”) as of May 31, 2018 and 2017 are summarized below:



	As of May 31,
	2018					2017
(Dollars in millions)	Borrowings		Interest Rate			Borrowings		Interest Rate
Notes payable:
Commercial paper	$	325	1.77	%		$	325	0.86	%
U.S. operations	1		0.00	%	⁽¹⁾	—		0.00	%	⁽¹⁾
Non-U.S. operations	10		18.11	%	⁽¹⁾	—		0.00	%	⁽¹⁾
TOTAL NOTES PAYABLE	$	336				$	325
Interest-bearing accounts payable:
Sojitz America	$	61	2.82	%		$	51	1.78	%


(1)	Weighted average interest rate includes non-interest bearing overdrafts.

The carrying amounts reflected in the Consolidated Balance Sheets for Notes payable approximate fair value.

The Company purchases through Sojitz America certain NIKE Brand products it acquires from non-U.S. suppliers. These purchases are for products sold in certain countries in the Company’s Asia Pacific & Latin America geographic operating segment and Canada, excluding products produced and sold in the same country. Accounts payable to Sojitz America are generally due up to 60 days after shipment of goods from the foreign port. The interest rate on such accounts payable is the 60-day London Interbank Offered Rate (“LIBOR”) as of the beginning of the month of the invoice date, plus 0.75%.

As of May 31, 2018 and 2017, the Company had $325 million outstanding under its $2 billion commercial paper program at weighted average interest rates of 1.77% and 0.86%, respectively.

On August 28, 2015, the Company entered into a committed credit facility agreement with a syndicate of banks which provides for up to $2 billion of borrowings. The facility matures August 28, 2020, with a one-year extension option prior to any anniversary of the closing date, provided that in no event shall it extend beyond August 28, 2022. Based on the Company’s current long-term senior unsecured debt ratings of AA- and A1 from Standard and Poor’s Corporation and Moody’s Investor Services, respectively, the interest rate charged on any outstanding borrowings would be the prevailing LIBOR plus 0.455%. The facility fee is 0.045% of the total commitment. Under the committed credit facility, the Company must maintain certain financial ratios, among other things, with which the Company was in compliance at May 31, 2018. No amounts were outstanding under the committed credit facility as of May 31, 2018 or 2017.

Long-Term Debt

12 Months Ended

May 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

NOTE 8 — Long-Term Debt

Long-term debt, net of unamortized premiums, discounts and debt issuance costs, comprises the following:



						Book Value Outstanding as of May 31,
Scheduled Maturity (Dollars and Yen in millions)	Original Principal		Interest Rate		Interest Payments	2018		2017
Corporate Bond Payables:⁽¹⁾⁽²⁾
May 1, 2023	$	500	2.25	%	Semi-Annually	$	498	$	497
November 1, 2026	$	1,000	2.38	%	Semi-Annually	994		993
May 1, 2043	$	500	3.63	%	Semi-Annually	495		495
November 1, 2045	$	1,000	3.88	%	Semi-Annually	982		981
November 1, 2046	$	500	3.38	%	Semi-Annually	490		490
Japanese Yen Notes:⁽³⁾
August 20, 2001 through November 20, 2020	¥	9,000	2.60	%	Quarterly	10		14
August 20, 2001 through November 20, 2020	¥	4,000	2.00	%	Quarterly	5		7
Total						3,474		3,477
Less current maturities						6		6
TOTAL LONG-TERM DEBT						$	3,468	$	3,471


(1)	These senior unsecured obligations rank equally with the Company’s other unsecured and unsubordinated indebtedness.

(2)

The bonds are redeemable at the Company’s option up to three months prior to the scheduled maturity date for the bonds maturing in 2023 and 2026, and up to six months prior to the scheduled maturity date for the bonds maturing in 2043, 2045 and 2046, at a price equal to the greater of (i) 100% of the aggregate principal amount of the notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments, plus in each case, accrued and unpaid interest. Within three and six months to scheduled maturity, respectively, the bonds also feature a par call provision, which allows for the bonds to be redeemed at a price equal to 100% of the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest.


(3)	NIKE Logistics YK assumed a total of ¥13.0 billion in loans as part of its agreement to purchase a distribution center in Japan, which serves as collateral for the loans. These loans mature in equal quarterly installments during the period August 20, 2001 through November 20, 2020.

The scheduled maturity of Long-term debt in each of the years ending May 31, 2019 through 2023 are $6 million, $6 million, $3 million, $0 million and $500 million, respectively, at face 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 $3,294 million at May 31, 2018 and $3,401 million at May 31, 2017.

Income Taxes

12 Months Ended

May 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 9 — Income Taxes

Income before income taxes is as follows:



	Year Ended May 31,
(In millions)	2018		2017		2016
Income before income taxes:
United States	$	744	$	1,240	$	956
Foreign	3,581		3,646		3,667
TOTAL INCOME BEFORE INCOME TAXES	$	4,325	$	4,886	$	4,623

The provision for income taxes is as follows:



	Year Ended May 31,
(In millions)	2018		2017			2016
Current:
United States
Federal	$	1,167	$	398		$	304
State	45		82			71
Foreign	533		439			568
Total	1,745		919			943
Deferred:
United States
Federal	595		(279		)	(57		)
State	25		(9		)	(16		)
Foreign	27		15			(7		)
Total	647		(273		)	(80		)
TOTAL INCOME TAX EXPENSE	$	2,392	$	646		$	863

On December 22, 2017, the United States enacted the Tax Act, which significantly changes previous U.S. tax laws, including provisions for a one-time transition tax on deemed repatriation of undistributed foreign earnings, a reduction in the corporate tax rate from 35% to 21%, as well as other changes. Under U.S. GAAP, accounting for the effect of tax legislation is required in the period of enactment. For fiscal 2018, the change in the corporate tax rate, effective January 1, 2018, results in a blended U.S. federal statutory rate for the Company of approximately 29%. The Tax Act also includes provisions not yet effective for the Company, including a provision to tax global intangible low-taxed income (GILTI) of foreign subsidiaries, which will be effective for the Company beginning June 1, 2018. In accordance with U.S. GAAP, the Company has made an accounting policy election to treat taxes due under the GILTI provision as a current period expense.

A reconciliation from the U.S. statutory federal income tax rate to the effective income tax rate is as follows:



	Year Ended May 31,
	2018		2017		2016
Federal income tax rate	29.2	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.2	%	1.1	%	1.1	%
Foreign earnings	-18.4	%	-20.7	%	-18.2	%
Transition tax related to the Tax Act	43.3	%	—	%	—	%
Remeasurement of deferred tax assets and liabilities related to the Tax Act	3.7	%	—	%	—	%
Excess tax benefits from share-based compensation	-5.3	%	—	%	—	%
Resolution of a U.S. tax matter	—	%	-3.2	%	—	%
Other, net	1.6	%	1.0	%	0.8	%
EFFECTIVE INCOME TAX RATE	55.3	%	13.2	%	18.7	%

The effective tax rate for the year ended May 31, 2018 was higher than the effective tax rate for the year ended May 31, 2017 primarily due to the enactment of the Tax Act, which included provisional expense of $1,875 million for the one-time transition tax on the deemed repatriation of undistributed foreign earnings, and $158 million due to the remeasurement of deferred tax assets and liabilities. The remaining provisions of the Tax Act, which were a net benefit to the effective tax rate, did not have a material impact on the Company’s Consolidated Financial Statements during fiscal 2018. Additionally, the increase in the effective tax rate was partially offset by the tax benefit from share-based compensation in the current period as a result of the adoption of ASU 2016-09 in the first quarter of fiscal 2018. During the years ended May 31, 2017 and 2016, income tax benefits of $177 million and $281 million, respectively, attributable to employee share-based compensation were allocated to Total shareholders’ equity. As a result of the adoption of ASU 2016-09, beginning in fiscal 2018, income tax benefits from share-based compensation are reported in the Consolidated Statements of Income.

The effective tax rate for the year ended May 31, 2017 was 550 basis points lower than the effective tax rate for the year ended May 31, 2016 primarily due to a one-time benefit in the first quarter of the fiscal year related to the resolution with the U.S. Internal Revenue Service (IRS) of a foreign tax credit matter and a decrease in foreign earnings taxed in the United States.

In accordance with U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 118 (“SAB 118”), the provisional amounts recorded represent reasonable estimates of the effects of the Tax Act for which the analysis is not yet complete. As the Company completes its analysis of the Tax Act, including collecting, preparing and analyzing necessary information, performing and refining calculations and obtaining additional guidance from the IRS, U.S. Treasury Department, FASB or other standard setting and regulatory bodies on the Tax Act, it may record adjustments to the provisional amounts, which may be material. In accordance with SAB 118, the Company’s accounting for the tax effects of the Tax Act will be completed during the measurement period, which should not extend beyond one year from the enactment date. At May 31, 2018, there were no provisions for which the Company was unable to record a reasonable estimate of the impact.

Transition Tax

During the third quarter of fiscal 2018, the Company recorded a provisional expense of $2,010 million related to the one-time transition tax on the deemed repatriation of undistributed foreign earnings. During the fourth quarter of fiscal 2018, as a result of further analysis of the provisions of the Tax Act and additional guidance, this provisional tax expense decreased by $135 million. The transition tax is based on the Company’s estimated total post-1986 undistributed foreign earnings at a tax rate of 15.5% for foreign cash and certain other specified assets, and 8% on the remaining earnings. The Company expects to pay the transition tax in installments over an eight-year period. Accordingly, the non-current portion of the provisional expense for the transition tax of $1,078 million, net of applicable foreign tax credits the Company expects to utilize, has been recorded in Deferred income taxes and other liabilities on the Consolidated Balance Sheets.

Impact of Changes in the Tax Rate

As a result of the reduction in the corporate tax rate from 35% to 21%, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to be realized. The total provisional expense recorded during the period for the remeasurement of deferred tax assets and liabilities was $158 million.

Deferred tax assets and liabilities comprise the following:



	As of May 31,
(In millions)	2018			2017
Deferred tax assets:
Inventories	$	73		$	90
Sales return reserves	104			130
Deferred compensation	250			348
Stock-based compensation	135			225
Reserves and accrued liabilities	102			88
Net operating loss carry-forwards	88			84
Foreign tax credit carry-forwards	—			208
Undistributed earnings of foreign subsidiaries	—			173
Other	106			106
Total deferred tax assets	858			1,452
Valuation allowance	(95		)	(82		)
Total deferred tax assets after valuation allowance	763			1,370
Deferred tax liabilities:
Foreign withholding tax on undistributed earnings of foreign subsidiaries	(155		)	—
Property, plant and equipment	(167		)	(254		)
Intangibles	(77		)	(90		)
Other	(26		)	(2		)
Total deferred tax liabilities	(425		)	(346		)
NET DEFERRED TAX ASSET	$	338		$	1,024

The following is a reconciliation of the changes in the gross balance of unrecognized tax benefits:



	As of May 31,
(In millions)	2018			2017			2016
Unrecognized tax benefits, beginning of the period	$	461		$	506		$	438
Gross increases related to prior period tax positions	19			31			49
Gross decreases related to prior period tax positions	(12		)	(163		)	(20		)
Gross increases related to current period tax positions	249			115			81
Settlements	—			(12		)	(13		)
Lapse of statute of limitations	(20		)	(21		)	(17		)
Changes due to currency translation	1			5			(12		)
UNRECOGNIZED TAX BENEFITS, END OF THE PERIOD	$	698		$	461		$	506

As of May 31, 2018, total gross unrecognized tax benefits, excluding related interest and penalties, were $698 million, $478 million of which would affect the Company’s effective tax rate if recognized in future periods.

The Company recognizes interest and penalties related to income tax matters in Income tax expense. The liability for payment of interest and penalties decreased by $14 million during the year ended May 31, 2018, decreased by $38 million during the year ended May 31, 2017 and increased by $45 million during the year ended May 31, 2016. As of May 31, 2018 and 2017, accrued interest and penalties related to uncertain tax positions were $157 million and $171 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 has closed all U.S. federal income tax matters through fiscal 2014, with the exception of certain transfer pricing adjustments. The Company is currently under audit by the IRS for fiscal years 2015 and 2016.

The Company’s major foreign jurisdictions, China and the Netherlands, have concluded substantially all income tax matters through calendar 2007 and fiscal 2012, respectively. 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 $163 million within the next 12 months.

The Company historically provided for U.S. income taxes on the undistributed earnings of foreign subsidiaries unless they were considered indefinitely reinvested outside the United States. At May 31, 2017, the indefinitely reinvested earnings in foreign subsidiaries upon which United States income taxes had not been provided were approximately $12.2 billion. These undistributed foreign earnings were subject to the U.S. one-time mandatory transition tax and are eligible to be repatriated to the U.S. without additional U.S. tax under the Tax Act. The Company has reevaluated its historic indefinite reinvestment assertion as a result of the enactment of the Tax Act and determined that any historical or future undistributed earnings of foreign subsidiaries are no longer considered to be indefinitely reinvested.

A portion of the Company’s foreign operations are benefiting from a tax holiday, which is set to expire in 2021. This tax holiday may be extended when certain conditions are met or may be terminated early if certain conditions are not met. The tax benefit attributable to this tax holiday was $126 million, $187 million and $173 million for the fiscal years ended May 31, 2018, 2017 and 2016, respectively. The benefit of the tax holiday on diluted earnings per common share was $0.08, $0.11 and $0.10 for the fiscal years ended May 31, 2018, 2017 and 2016, respectively.

Deferred tax assets at May 31, 2018 and 2017 were reduced by a valuation allowance primarily relating to tax benefits of certain entities with operating losses. There was a $13 million net increase in the valuation allowance for the year ended May 31, 2018, compared to a $30 million net increase for the year ended May 31, 2017 and $43 million net increase for the year ended May 31, 2016.

The Company no longer has recorded deferred tax assets for foreign tax credit carry-forwards; the $208 million recorded at May 31, 2017 was fully utilized to offset the impacts of transition tax.

The Company has available domestic and foreign loss carry-forwards of $289 million at May 31, 2018. Such losses will expire as follows:



	Year Ending May 31,
(In millions)	2019		2020		2021		2022		2023-2039		Indefinite		Total
Net operating losses	$	1	$	5	$	2	$	1	$	91	$	189	$	289

Redeemable Preferred Stock

12 Months Ended

May 31, 2018

Temporary Equity Disclosure [Abstract]

Redeemable Preferred Stock

NOTE 10 — Redeemable Preferred Stock

Sojitz America is the sole owner of the Company’s authorized redeemable preferred stock, $1 par value, which is redeemable at the option of Sojitz America or the Company at par value aggregating $0.3 million. A cumulative dividend of $0.10 per share is payable annually on May 31 and no dividends may be declared or paid on the common stock of the Company unless dividends on the redeemable preferred stock have been declared and paid in full. There have been no changes in the redeemable preferred stock in the three years ended May 31, 2018, 2017 and 2016. As the holder of the redeemable preferred stock, Sojitz America does not have general voting rights, but does have the right to vote as a separate class on the sale of all or substantially all of the assets of the Company and its subsidiaries, on merger, consolidation, liquidation or dissolution of the Company, or on the sale or assignment of the NIKE trademark for athletic footwear sold in the United States. The redeemable preferred stock has been fully issued to Sojitz America and is not blank check preferred stock. The Company’s articles of incorporation do not permit the issuance of additional preferred stock.

Common Stock and Stock-Based Compensation

12 Months Ended

May 31, 2018

Share-based Compensation [Abstract]

Common Stock and Stock-Based Compensation

NOTE 11 — Common Stock and Stock-Based Compensation

The authorized number of shares of Class A Common Stock, no par value, and Class B Common Stock, no par value, are 400 million and 2,400 million, respectively. Each share of Class A Common Stock is convertible into one share of Class B Common Stock. Voting rights of Class B Common Stock are limited in certain circumstances with respect to the election of directors. There are no differences in the dividend and liquidation preferences or participation rights of the holders of Class A and Class B Common Stock. From time to time, the Company’s Board of Directors authorizes share repurchase programs for the repurchase of Class B Common Stock. The value of repurchased shares is deducted from Total shareholders‘ equity through allocation to Capital in excess of stated value and Retained earnings.

The NIKE, Inc. Stock Incentive Plan (the “Stock Incentive Plan”) provides for the issuance of up to 718 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. The exercise price for stock options and stock appreciation rights may not be less than the fair market value of the underlying shares on the date of grant. A committee of the Board of Directors administers the Stock Incentive Plan. The committee has the authority to determine the employees to whom awards will be made, the amount of the awards and the other terms and conditions of the awards. Substantially all stock option grants outstanding under the Stock Incentive Plan are granted in the first quarter of each fiscal year, vest ratably over four years and expire ten years from the date of grant.

The following table summarizes the Company’s total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable:



	Year Ended May 31,
(In millions)	2018		2017		2016
Stock options⁽¹⁾	$	149	$	145	$	171
ESPPs	34		36		31
Restricted stock	35		34		34
TOTAL STOCK-BASED COMPENSATION EXPENSE	$	218	$	215	$	236


(1)	Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is recorded for employees eligible for accelerated stock option vesting upon retirement. Accelerated stock option expense was $18 million, $14 million and $30 million for the years ended May 31, 2018, 2017 and 2016, respectively.

As of May 31, 2018, the Company had $195 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 2.0 years.

The weighted average fair value per share of the options granted during the years ended May 31, 2018, 2017 and 2016, computed as of the grant date using the Black-Scholes pricing model, was $9.82, $9.38 and $12.66, respectively. The weighted average assumptions used to estimate these fair values are as follows:



	Year Ended May 31,
	2018		2017		2016
Dividend yield	1.2	%	1.1	%	1.0	%
Expected volatility	16.4	%	17.4	%	23.6	%
Weighted average expected life (in years)	6.0		6.0		5.8
Risk-free interest rate	2.0	%	1.3	%	1.7	%

The Company estimates the expected volatility based on the implied volatility in market traded options on the Company’s common stock with a term greater than one year, along with 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.

The following summarizes the stock option transactions under the plan discussed above:



	Shares⁽¹⁾		Weighted Average Option Price
	(In millions)
Options outstanding May 31, 2015	116.2		$	23.50
Exercised	(22.5	)	17.75
Forfeited	(2.3	)	39.96
Granted	20.6		56.41
Options outstanding May 31, 2016	112.0		30.38
Exercised	(17.1	)	20.42
Forfeited	(2.3	)	49.47
Granted	12.2		57.81
Options outstanding May 31, 2017	104.8		34.79
Exercised	(24.1	)	25.07
Forfeited	(4.3	)	55.31
Granted	16.8		59.08
Options outstanding May 31, 2018	93.2		$	40.73
Options exercisable at May 31,
2016	66.5		$	21.48
2017	67.9		26.03
2018	58.5		31.60


(1)	Includes stock appreciation rights transactions.

The weighted average contractual life remaining for options outstanding and options exercisable at May 31, 2018 was 5.7 years and 4.4 years, respectively. The aggregate intrinsic value for options outstanding and exercisable at May 31, 2018 was $2,896 million and $2,352 million, respectively. The aggregate intrinsic value was the amount by which the market value of the underlying stock exceeded the exercise price of the options. The total intrinsic value of the options exercised during the years ended May 31, 2018, 2017 and 2016 was $889 million, $594 million and $946 million, respectively.

In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount to the market price under employee stock purchase plans (ESPPs). Subject to the annual statutory limit, employees are eligible to participate through payroll deductions of up to 10% of their compensation. At the end of each six-month offering period, shares are purchased by the participants at 85% of the lower of the fair market value at the beginning or the end of the offering period. Employees purchased 3.1 million, 3.1 million and 2.5 million shares during each of the three years ended May 31, 2018, 2017 and 2016, respectively.

From time to time, the Company grants restricted stock and restricted stock units to key employees under the Stock Incentive Plan. The number of shares underlying such awards granted to employees during the years ended May 31, 2018, 2017 and 2016 were 1.8 million, 0.4 million and 1.0 million, respectively, with weighted average values per share of $62.51, $57.59 and $54.87, respectively. Recipients of restricted stock are entitled to cash dividends and to vote their respective shares throughout the period of restriction. Recipients of restricted stock units are entitled to dividend equivalent cash payments upon vesting. The value of all grants of restricted stock and restricted stock units was established by the market price on the date of grant. During the years ended May 31, 2018, 2017 and 2016, the aggregate fair value of restricted stock and restricted stock units vested was $113 million, $60 million and $49 million, respectively, determined as of the date of vesting. As of May 31, 2018, the Company had $104 million of unrecognized compensation costs from restricted stock and restricted stock units to be recognized in Operating overhead expense over a weighted average period of 2.4 years.

Earnings Per Share

12 Months Ended

May 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 12 — 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 options, including shares under employee stock purchase plans, to purchase an additional 42.9 million, 30.5 million and 0.2 million shares of common stock outstanding for the years ended May 31, 2018, 2017 and 2016, respectively, because the options were anti-dilutive.



	Year Ended May 31,
(In millions, except per share data)	2018		2017		2016
Determination of shares:
Weighted average common shares outstanding	1,623.8		1,657.8		1,697.9
Assumed conversion of dilutive stock options and awards	35.3		34.2		44.6
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,659.1		1,692.0		1,742.5

Earnings per common share:
Basic	$	1.19	$	2.56	$	2.21
Diluted	$	1.17	$	2.51	$	2.16

Benefit Plans

12 Months Ended

May 31, 2018

Retirement Benefits [Abstract]

Benefit Plans

NOTE 13 — Benefit Plans

The Company has a qualified 401(k) Savings and Profit Sharing Plan, in which all U.S. employees are able to participate. The Company matches a portion of employee contributions to the savings plan. Company contributions to the savings plan were $80 million, $75 million and $72 million and included in Cost of sales or Operating overhead expense, as applicable, for the years ended May 31, 2018, 2017 and 2016, respectively. The terms of the plan also allow for annual discretionary profit sharing contributions, as determined by the Board of Directors, to the accounts of eligible U.S. employees who work at least 1,000 hours in a year. Profit sharing contributions of $59 million, $68 million and $64 million were made to the plan and included in Cost of sales or Operating overhead expense, as applicable, for the years ended May 31, 2018, 2017 and 2016, respectively.

The Company also has a Long-Term Incentive Plan (LTIP) adopted by the Board of Directors and approved by shareholders in September 1997 and later amended and approved in fiscal 2007 and fiscal 2012. The Company recognized $33 million, $21 million and $85 million of Operating overhead expense related to cash awards under the LTIP during the years ended May 31, 2018, 2017 and 2016, respectively.

The Company allows certain highly compensated employees and non-employee directors of the Company to defer compensation under a nonqualified deferred compensation plan. Deferred compensation plan liabilities were $641 million and $569 million at May 31, 2018 and 2017, respectively, and primarily classified as non-current in Deferred income taxes and other liabilities.

The Company has pension plans in various countries worldwide. The pension plans are only available to local employees and are generally government mandated. The liability related to the unfunded pension liabilities of the plans was $70 million and $107 million at May 31, 2018 and 2017, respectively, and primarily classified as non-current in Deferred income taxes and other liabilities.

Accumulated Other Comprehensive Income

12 Months Ended

May 31, 2018

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

Accumulated Other Comprehensive Income

NOTE 14 — Accumulated Other Comprehensive Income

The changes in Accumulated other comprehensive income, net of tax, were as follows:



(In millions)	Foreign Currency Translation Adjustment⁽¹⁾			Cash Flow Hedges			Net Investment Hedges⁽¹⁾		Other			Total
Balance at May 31, 2017	$	(191	)	$	(52	)	$	115	$	(85	)	$	(213	)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications⁽²⁾	(6		)	(52		)	—		2			(56		)
Reclassifications to net income of previously deferred (gains) losses⁽³⁾	—			128			—		32			160
Total other comprehensive income (loss)	(6		)	76			—		34			104
Reclassifications to retained earnings in accordance with ASU 2018-02⁽⁴⁾	24			(7		)	—		—			17
Balance at May 31, 2018	$	(173	)	$	17		$	115	$	(51	)	$	(92	)


(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 $(24) million, $(3) million, $0 million, $(4) million and $(31) million, respectively.


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


(4)	Refer to Note 1 — Summary of Significant Accounting Policies for additional information on the adoption of ASU 2018-02 during the third quarter of fiscal 2018.



(In millions)	Foreign Currency Translation Adjustment⁽¹⁾			Cash Flow Hedges			Net Investment Hedges⁽¹⁾		Other			Total
Balance at May 31, 2016	$	(207	)	$	463		$	115	$	(53	)	$	318
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications⁽²⁾	15			118			—		(14		)	119
Reclassifications to net income of previously deferred (gains) losses⁽³⁾	1			(633		)	—		(18		)	(650		)
Total other comprehensive income (loss)	16			(515		)	—		(32		)	(531		)
Balance at May 31, 2017	$	(191	)	$	(52	)	$	115	$	(85	)	$	(213	)


(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, $24 million, $0 million, $3 million and $27 million, respectively.


(3)	Net of tax (benefit) expense of $0 million, $(3) million, $0 million, $(3) million and $(6) million, respectively.

The following table summarizes the reclassifications from Accumulated other comprehensive income to the Consolidated Statements of Income:



	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income						Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income

	Year Ended May 31,
(In millions)	2018			2017
Gains (losses) on foreign currency translation adjustment	$	—		$	(1	)	Other expense (income), net
Total before tax	—			(1		)
Tax (expense) benefit	—			—
Gain (loss) net of tax	—			(1		)
Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	34			96			Revenues
Foreign exchange forwards and options	(90		)	339			Cost of sales
Foreign exchange forwards and options	1			—			Total selling and administrative expense
Foreign exchange forwards and options	(69		)	199			Other expense (income), net
Interest rate swaps	(7		)	(4		)	Interest expense (income), net
Total before tax	(131		)	630
Tax (expense) benefit	3			3
Gain (loss) net of tax	(128		)	633
Gains (losses) on other	(32		)	15			Other expense (income), net
Total before tax	(32		)	15
Tax (expense) benefit	—			3
Gain (loss) net of tax	(32		)	18
Total net gain (loss) reclassified for the period	$	(160	)	$	650

Refer to Note 16 — Risk Management and Derivatives for more information on the Company’s risk management program and derivatives.

Commitments and Contingencies

12 Months Ended

May 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 15 — Commitments and Contingencies

The Company leases retail store space, certain distribution and warehouse facilities, office space, equipment and other non-real estate assets under operating leases expiring from 1 to 17 years after May 31, 2018. Rent expense, excluding executory costs, was $820 million, $731 million and $661 million for the years ended May 31, 2018, 2017 and 2016, respectively. Amounts of minimum future annual commitments under non-cancelable operating and capital leases are as follows (in millions):



	2019		2020		2021		2022		2023		Thereafter		Total
Operating leases	$	589	$	523	$	472	$	412	$	361	$	1,608	$	3,965
Capital leases and other financing obligations⁽¹⁾	$	44	$	37	$	40	$	38	$	36	$	229	$	424


(1)	Capital leases and other financing obligations include payments related to build-to-suit lease arrangements.

As of May 31, 2018 and 2017, the Company had letters of credit outstanding totaling $165 million and $152 million, respectively. These letters of credit were generally issued for the purchase of inventory and guarantees of the Company’s performance under certain self-insurance and other programs.

In connection with various contracts and agreements, the Company provides routine indemnification relating to the enforceability of intellectual property rights, coverage for legal issues that arise and other items where the Company is acting as the guarantor. Currently, the Company has several such agreements in place. However, based on the Company’s historical experience and the estimated probability of future loss, the Company has determined the fair value of such indemnification is not material to the Company’s financial position or results of operations.

In the ordinary course of its business, the Company is involved in various legal proceedings involving contractual and employment relationships, product liability claims, trademark rights and a variety of other matters. While the Company cannot predict the outcome of its pending legal matters with certainty, the Company does not believe any currently identified claim, proceeding or litigation, either individually or in aggregate, will have a material impact on the Company’s results of operations, financial position or cash flows.

Risk Management and Derivatives

12 Months Ended

May 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Risk Management and Derivatives

NOTE 16 — 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. The Company does not hold or issue derivatives for trading or speculative purposes.

The Company may elect to designate certain derivatives as hedging instruments under the accounting standards for derivatives and hedging. The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to either recognized assets or liabilities or forecasted transactions.

The majority of derivatives outstanding as of May 31, 2018 are designated as foreign currency cash flow hedges, primarily for Euro/U.S. Dollar, British Pound/Euro and Japanese Yen/U.S. Dollar currency pairs. All derivatives are recognized on the Consolidated Balance Sheets at fair value and classified based on the instrument’s maturity date.

The following table presents the fair values of derivative instruments included within the Consolidated Balance Sheets as of May 31, 2018 and 2017:



	Derivative Assets					Derivative Liabilities
(In millions)	Balance Sheet Location	2018		2017		Balance Sheet Location	2018		2017
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	118	$	113	Accrued liabilities	$	156	$	59
Foreign exchange forwards and options	Deferred income taxes and other assets	152		13		Deferred income taxes and other liabilities	—		73
Total derivatives formally designated as hedging instruments		270		126			156		132
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	119		103		Accrued liabilities	26		107
Embedded derivatives	Prepaid expenses and other current assets	3		1		Accrued liabilities	2		2
Foreign exchange forwards and options	Deferred income taxes and other assets	—		2		Deferred income taxes and other liabilities	—		7
Embedded derivatives	Deferred income taxes and other assets	8		9		Deferred income taxes and other liabilities	6		6
Total derivatives not designated as hedging instruments		130		115			34		122
TOTAL DERIVATIVES		$	400	$	241		$	190	$	254

The following tables present the amounts affecting the Consolidated Statements of Income for the years ended May 31, 2018, 2017 and 2016:



(In millions)	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives⁽¹⁾									Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income⁽¹⁾
	Year Ended May 31,									Location of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	Year Ended May 31,

	2018			2017			2016				2018			2017			2016
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	19		$	72		$	90		Revenues	$	34		$	96		$	(88	)
Foreign exchange forwards and options	(50		)	43			(57		)	Cost of sales	(90		)	339			586
Foreign exchange forwards and options	1			(4		)	—			Total selling and administrative expense	1			—			—
Foreign exchange forwards and options	(19		)	37			(25		)	Other expense (income), net	(69		)	199			219
Interest rate swaps⁽²⁾	—			(54		)	(83		)	Interest expense (income), net	(7		)	(4		)	—
Total designated cash flow hedges	$	(49	)	$	94		$	(75	)		$	(131	)	$	630		$	717


(1)	For the years ended May 31, 2018, 2017 and 2016, the amounts recorded in Other expense (income), net as a result of hedge ineffectiveness and 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, 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
	Year Ended May 31,
(In millions)	2018			2017			2016
Derivatives designated as fair value hedges:
Interest rate swaps⁽¹⁾	$	—		$	—		$	2		Interest expense (income), net
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	(57		)	(44		)	(68		)	Other expense (income), net
Embedded derivatives	$	(4	)	$	(2	)	$	(2	)	Other expense (income), net


(1)	All interest rate swaps designated as fair value hedges meet the shortcut method requirements under the accounting standards for derivatives and hedging. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. Refer to “Fair Value Hedges” in this note for additional detail.

Cash Flow Hedges

All changes in fair value of derivatives designated as cash flow hedges, excluding any ineffective portion, are recorded in Accumulated other comprehensive income until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified within the Consolidated Statements of Income in the same manner as the underlying exposure. The ineffective portion of the unrealized gains and losses on these contracts, if any, is recorded immediately in earnings. Derivative instruments designated as cash flow hedges must be discontinued when it is no longer probable the forecasted hedged transaction will occur in the initially identified time period. The gains and losses associated with discontinued derivative instruments in Accumulated other comprehensive income will be recognized immediately in Other expense (income), 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 all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will account for the derivative as an undesignated instrument as discussed below.

The purpose of the Company’s foreign exchange risk management program is to lessen both the positive and negative effects of currency fluctuations on the Company’s consolidated results of operations, financial position and cash flows. Foreign currency exposures the Company may elect to hedge in this manner include product cost exposures, non-functional currency denominated external and intercompany revenues, selling and administrative expenses, investments in U.S. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions.

Product cost exposures are primarily generated through non-functional currency denominated product purchases and the foreign currency adjustment program described below. NIKE entities primarily purchase products in two ways: (1) Certain NIKE entities purchase product from the NIKE Trading Company (NTC), a wholly owned sourcing hub that buys NIKE branded products from third party factories, predominantly in U.S. Dollars. The NTC, whose functional currency is the U.S. Dollar, then sells the product to NIKE entities in their respective functional currencies. NTC sales to a NIKE entity with a different functional currency results in a foreign currency exposure for the NTC. (2) Other NIKE entities purchase product directly from third party factories in U.S. Dollars. These purchases generate a foreign currency exposure for those NIKE entities with a functional currency other than the U.S. Dollar.

The Company operates a foreign currency adjustment program with certain factories. The program is designed to more effectively manage foreign currency risk by assuming certain of the factories’ foreign currency exposures, some of which are natural offsets to the Company’s existing foreign currency exposures. Under this program, the Company’s payments to these factories are adjusted for rate fluctuations in the basket of currencies (“factory currency exposure index”) in which the labor, materials and overhead costs incurred by the factories in the production of NIKE branded products (“factory input costs”) are denominated. For the portion of the indices denominated in the local or functional currency of the factory, the Company may elect to place formally designated cash flow hedges. For all currencies within the indices, excluding the U.S. Dollar and the local or functional currency of the factory, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order. Embedded derivative contracts are separated from the related purchase order, as further described within the Embedded Derivatives section below.

The Company’s policy permits the utilization of derivatives to reduce its foreign currency exposures where internal netting or other strategies cannot be effectively employed. Typically, the Company may enter into hedge contracts starting up to 12 to 24 months in advance of the forecasted transaction and may place incremental hedges up to 100% of the exposure by the time the forecasted transaction occurs. The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was $12.2 billion as of May 31, 2018.

As of May 31, 2018, $96 million of deferred net gains (net of tax) on both outstanding and matured derivatives in Accumulated other comprehensive income 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 May 31, 2018, the maximum term over which the Company is hedging exposures to the variability of cash flows for its forecasted transactions was 24 months.

Fair Value Hedges

The Company has, in the past, been exposed to the risk of changes in the fair value of certain fixed-rate debt attributable to changes in interest rates. Derivatives used by the Company to hedge this risk are receive-fixed, pay-variable interest rate swaps. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. The Company recorded no ineffectiveness from its interest rate swaps designated as fair value hedges for the years ended May 31, 2018, 2017 or 2016. The Company had no interest rate swaps designated as fair value hedges as of May 31, 2018.

Net Investment Hedges

The Company has, in the past, hedged and may, in the future, hedge the risk of variability in foreign currency-denominated net investments in wholly-owned international operations. All changes in fair value of the derivatives designated as net investment hedges, except ineffective portions, are reported in Accumulated other comprehensive income along with the foreign currency translation adjustments on those investments. The ineffective portion of the unrealized gains and losses on these contracts, if any, are recorded immediately in earnings. The Company recorded no ineffectiveness from net investment hedges for the years ended May 31, 2018, 2017 or 2016. The Company had no outstanding net investment hedges as of May 31, 2018.

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 Consolidated Balance Sheets and/or the embedded derivative contracts. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Consolidated Balance Sheets with their corresponding change in fair value recognized in Other expense (income), net, together with the re-measurement gain or loss from the hedged balance sheet position and/or embedded derivative contract. The total notional amount of outstanding undesignated derivative instruments was $6.1 billion as of May 31, 2018.

Embedded Derivatives

As part of the foreign currency adjustment program described above, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order for currencies within the factory currency exposure indices that are neither the U.S. Dollar nor the local or functional currency of the factory. In addition, embedded derivative contracts are created when the Company enters into certain other contractual agreements which have payments that are indexed to currencies that are not the functional currency of either substantial party to the contracts. Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related purchase order and recorded at fair value as a derivative asset or liability on the Consolidated Balance Sheets with their corresponding change in fair value recognized in Other expense (income), net, through the date the foreign currency fluctuations cease to exist.

At May 31, 2018, the total notional amount of all embedded derivatives outstanding was approximately $260 million.

Credit Risk

The Company is exposed to credit-related losses in the event of nonperformance by counterparties to hedging instruments. The counterparties to all derivative transactions are major financial institutions with investment grade credit ratings; however, this does not eliminate the Company’s exposure to credit risk with these institutions. This credit risk is limited to the unrealized gains in such contracts should any of these counterparties fail to perform as contracted. To manage this risk, the Company has established strict counterparty credit guidelines that are continually monitored.

The Company’s derivative contracts contain credit risk-related contingent features designed to protect against significant deterioration in counterparties’ creditworthiness and their ultimate ability to settle outstanding derivative contracts in the normal course of business. 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 also trigger collateral requirements. As of May 31, 2018, the Company was in compliance with all credit risk-related contingent features and had no derivative instruments with credit risk-related contingent features in a net liability position. Accordingly, the Company was not required to post any collateral as a result of these contingent features. Further, as of May 31, 2018, the Company had received $23 million of cash collateral from various counterparties to its derivative contracts (refer to Note 6 — Fair Value Measurements). The Company considers the impact of the risk of counterparty default to be immaterial.

Operating Segments and Related Information

12 Months Ended

May 31, 2018

Segment Reporting [Abstract]

Operating Segments and Related Information

NOTE 17 — Operating Segments and Related Information

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. In June 2017, NIKE, Inc. announced a new company alignment designed to allow NIKE to better serve the consumer personally, at scale. As a result of this organizational realignment, the Company’s reportable operating segments for the NIKE Brand are: North America; Europe, Middle East & Africa; Greater China; and Asia Pacific & Latin America, and include results for the NIKE, Jordan and Hurley brands. Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation. This includes reclassified operating segment data to reflect the changes in the Company’s operating structure, which became effective June 1, 2017. These changes had no impact on previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of shareholders’ equity.

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 casual 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 primarily represents NIKE Brand licensing businesses that are not part of a geographic operating segment, and demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand.

Corporate consists largely 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 (commonly referred to as “EBIT”), which represents Net income before Interest expense (income), net and Income tax expense in the 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, therefore, are provided below. Additions to long-lived assets as presented in the following table represent capital expenditures.



	Year Ended May 31,
(In millions)	2018			2017			2016
REVENUES
North America	$	14,855		$	15,216		$	14,764
Europe, Middle East & Africa	9,242			7,970			7,568
Greater China	5,134			4,237			3,785
Asia Pacific & Latin America	5,166			4,737			4,317
Global Brand Divisions	88			73			73
Total NIKE Brand	34,485			32,233			30,507
Converse	1,886			2,042			1,955
Corporate	26			75			(86		)
TOTAL NIKE, INC. REVENUES	$	36,397		$	34,350		$	32,376
EARNINGS BEFORE INTEREST AND TAXES
North America	$	3,600		$	3,875		$	3,763
Europe, Middle East & Africa	1,587			1,507			1,787
Greater China	1,807			1,507			1,372
Asia Pacific & Latin America	1,189			980			1,002
Global Brand Divisions	(2,658		)	(2,677		)	(2,596		)
Total NIKE Brand	5,525			5,192			5,328
Converse	310			477			487
Corporate	(1,456		)	(724		)	(1,173		)
Total NIKE, Inc. Earnings Before Interest and Taxes	4,379			4,945			4,642
Interest expense (income), net	54			59			19
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES	$	4,325		$	4,886		$	4,623
ADDITIONS TO LONG-LIVED ASSETS
North America	$	196		$	223		$	242
Europe, Middle East & Africa	240			173			234
Greater China	76			51			44
Asia Pacific & Latin America	49			59			62
Global Brand Divisions	286			278			258
Total NIKE Brand	847			784			840
Converse	22			30			39
Corporate	325			387			312
TOTAL ADDITIONS TO LONG-LIVED ASSETS	$	1,194		$	1,201		$	1,191
DEPRECIATION
North America	$	160		$	140		$	133
Europe, Middle East & Africa	116			106			85
Greater China	56			54			48
Asia Pacific & Latin America	55			54			42
Global Brand Divisions	217			233			230
Total NIKE Brand	604			587			538
Converse	33			28			27
Corporate	110			91			84
TOTAL DEPRECIATION	$	747		$	706		$	649



	As of May 31,
(In millions)	2018			2017
ACCOUNTS RECEIVABLE, NET
North America	$	1,443		$	1,798
Europe, Middle East & Africa	870			690
Greater China	101			102
Asia Pacific & Latin America	720			693
Global Brand Divisions	102			86
Total NIKE Brand	3,236			3,369
Converse	240			297
Corporate	22			11
TOTAL ACCOUNTS RECEIVABLE, NET	$	3,498		$	3,677
INVENTORIES
North America	$	2,270		$	2,218
Europe, Middle East & Africa	1,433			1,327
Greater China	580			463
Asia Pacific & Latin America	687			694
Global Brand Divisions	91			68
Total NIKE Brand	5,061			4,770
Converse	268			286
Corporate	(68		)	(1		)
TOTAL INVENTORIES	$	5,261		$	5,055
PROPERTY, PLANT AND EQUIPMENT, NET
North America	$	848		$	819
Europe, Middle East & Africa	849			709
Greater China	256			225
Asia Pacific & Latin America	339			340
Global Brand Divisions	597			533
Total NIKE Brand	2,889			2,626
Converse	115			125
Corporate	1,450			1,238
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,454		$	3,989

Revenues by Major Product Lines

Revenues from external customers for NIKE Brand products are attributable to sales of footwear, apparel and equipment. Other revenues from external customers consist primarily of sales by Converse.



	Year Ended May 31,
(In millions)	2018		2017		2016
Footwear	$	22,268	$	21,081	$	19,871
Apparel	10,733		9,654		9,067
Equipment	1,396		1,425		1,496
Other	2,000		2,190		1,942
TOTAL NIKE, INC. REVENUES	$	36,397	$	34,350	$	32,376

Revenues and Long-Lived Assets by Geographic Area

After allocation of revenues for Global Brand Divisions, Converse and Corporate to geographical areas based on the location where the sales originated, revenues by geographical area are essentially the same as reported above for the NIKE Brand operating segments with the exception of the United States. Revenues derived in the United States were $15,314 million, $15,778 million and $15,304 million for the years ended May 31, 2018, 2017 and 2016, respectively. The Company’s largest concentrations of long-lived assets primarily consist of the Company’s world headquarters and distribution facilities in the United States and distribution facilities in Belgium, China and Japan. Long-lived assets attributable to operations in the United States, which are primarily composed of net property, plant & equipment, were $2,930 million and $2,629 million at May 31, 2018 and 2017, respectively. Long-lived assets attributable to operations in Belgium were $534 million and $390 million at May 31, 2018 and 2017, respectively. Long-lived assets attributable to operations in China were $262 million and $232 million at May 31, 2018 and 2017, respectively. Long-lived assets attributable to operations in Japan were $237 million and $223 million at May 31, 2018 and 2017, respectively.

Major Customers

No customer accounted for 10% or more of the Company’s net revenues during the years ended May 31, 2018, 2017 and 2016.

Schedule II - Valuation and qualifying accounts

12 Months Ended

May 31, 2018

Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - Valuation and qualifying accounts

SCHEDULE II — Valuation and Qualifying Accounts



(In millions)	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts⁽¹⁾			Write-Offs, Net			Balance at End of Period
Sales returns reserve
For the year ended May 31, 2016	$	379	$	788	$	(15	)	$	(708	)	$	444
For the year ended May 31, 2017	444		696		3			(800		)	343
For the year ended May 31, 2018	343		640		5			(658		)	330
Allowance for doubtful accounts⁽²⁾
For the year ended May 31, 2016	$	78	$	52	$	(2	)	$	(85	)	$	43
For the year ended May 31, 2017	43		16		—			(40		)	19
For the year ended May 31, 2018	19		19		—			(8		)	30


(1)	Amounts included in this column primarily relate to foreign currency translation.


(2)	Includes both current and non-current portions of the allowance for doubtful accounts. The non-current portion is included in Deferred income taxes and other assets on the Consolidated Balance Sheets.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

May 31, 2018

Accounting Policies [Abstract]

Basis of Consolidation

The Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

On November 19, 2015, the Company announced a two-for-one split of both NIKE Class A and Class B Common Stock. The stock split was in the form of a 100 percent stock dividend payable on December 23, 2015 to shareholders of record at the close of business on December 9, 2015. Common stock began trading at the split-adjusted price on December 24, 2015. All share and per share amounts presented reflect the stock split.

Reclassifications

Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation, including reclassified geographic operating segment data to reflect the changes in the Company’s operating structure, which became effective on June 1, 2017. Refer to Note 17 — Operating Segments and Related Information for additional information.

Revenue Recognition

Wholesale revenues are recognized when title and the risks and rewards of ownership have passed to the customer, based on the terms of sale. This occurs upon shipment or upon receipt by the customer depending on the country of the sale and the agreement with the customer. Retail store revenues are recorded at the time of sale and digital commerce revenues are recorded upon delivery to the customer. Amounts collected from customers for sales or value added tax are recorded on a net basis. Provisions for post-invoice sales discounts, returns and miscellaneous claims from customers are estimated and recorded as a reduction to revenue at the time of sale. Post-invoice sales discounts consist of contractual programs with certain customers or discretionary discounts expected to be granted to certain customers at a later date. Estimates of discretionary discounts, returns and claims are based on (1) historical rates, (2) specific identification of outstanding claims and outstanding returns not yet received from customers and (3) estimated discounts, returns and claims expected, but not yet finalized with customers.

Cost of Sales

Cost of sales consists primarily of inventory costs, as well as warehousing costs (including the cost of warehouse labor), third-party royalties, certain foreign currency hedge gains and losses and product design costs. Outbound shipping and handling costs are expensed as incurred and included in Cost of sales.

Demand Creation Expense

Demand creation expense consists of advertising and promotion costs, including costs of endorsement contracts, complimentary product, television, digital and print advertising and media costs, brand events and retail brand presentation. Advertising production costs are expensed the first time an advertisement is run. Advertising media costs are expensed when the advertisement appears. Costs related to brand events are expensed when the event occurs. Costs related to retail brand presentation are expensed when the presentation is complete and delivered.

A significant amount of the Company’s promotional expenses result from payments under endorsement contracts. In general, endorsement payments are expensed on a straight-line basis over the term of the contract. However, certain contract elements may be accounted for differently based upon the facts and circumstances of each individual contract. Prepayments made under contracts are included in Prepaid expenses and other current assets or Deferred income taxes and other assets depending on the period to which the prepayment applies.

Certain contracts provide for contingent payments to endorsers based upon specific achievements in their sports (e.g., winning a championship). The Company records Demand creation expense for these amounts when the endorser achieves the specific goal.

Certain contracts provide for variable payments based upon endorsers maintaining a level of performance in their sport over an extended period of time (e.g., maintaining a specified ranking in a sport for a year). When the Company determines payments are probable, the amounts are reported in Demand creation expense ratably over the contract period based on the Company’s best estimate of the endorser’s performance. In these instances, to the extent actual payments to the endorser differ from the Company’s estimate due to changes in the endorser’s performance, adjustments to Demand creation expense may be recorded in a future period.

Certain contracts provide for royalty payments to endorsers based upon a predetermined percent of sales of particular products. The Company expenses these payments in Cost of sales as the related sales occur. In certain contracts, the Company offers minimum guaranteed royalty payments. For contracts the Company estimates will not meet the minimum guaranteed amount of royalty fees through sales of product, the Company records the amount of the guaranteed payment in excess of that earned through sales of product in Demand creation expense uniformly over the contract period.

Through cooperative advertising programs, the Company reimburses customers for certain costs of advertising the Company’s products. The Company records these costs in Demand creation expense at the point in time when it is obligated to its customers for the costs. This obligation may arise prior to the related advertisement being run.

Operating Overhead Expense

Operating overhead expense consists primarily of wage and benefit-related expenses, research and development costs, as well as other administrative expenses, such as rent, depreciation and amortization, professional services, meetings and travel.

Cash and Equivalents

Cash and equivalents represent cash and short-term, highly liquid investments, that are both readily convertible to known amounts of cash, and so near their maturity they present insignificant risk of changes in value because of changes in interest rates, including commercial paper, U.S. Treasury, U.S. Agency, money market funds, time deposits and corporate debt securities with maturities of 90 days or less at the date of purchase.

Short-Term Investments

Short-term investments consist of highly liquid investments, including commercial paper, U.S. Treasury, U.S. Agency, time deposits and corporate debt securities, with maturities over 90 days at the date of purchase. Debt securities the Company has the ability and positive intent to hold to maturity are carried at amortized cost. At May 31, 2018 and 2017, the Company did not hold any short-term investments classified as trading or held-to-maturity.

At May 31, 2018 and 2017, Short-term investments consisted of available-for-sale securities. Available-for-sale securities are recorded at fair value with unrealized gains and losses reported, net of tax, in Accumulated other comprehensive income, unless unrealized losses are determined to be other than temporary. Realized gains and losses on the sale of securities are determined by specific identification. The Company considers all available-for-sale securities, including those with maturity dates beyond 12 months, as available to support current operational liquidity needs and, therefore, classifies all securities with maturity dates beyond 90 days at the date of purchase as current assets within Short-term investments on the Consolidated Balance Sheets.

Allowance for Uncollectible Accounts Receivable

Accounts receivable, net consist primarily of amounts receivable from customers. The Company makes ongoing estimates relating to the collectability of its accounts receivable and maintains an allowance for estimated losses resulting from the inability of its customers to make required payments. In determining the amount of the allowance, the Company considers historical levels of credit losses and makes judgments about the creditworthiness of significant customers based on ongoing credit evaluations. Accounts receivable with anticipated collection dates greater than 12 months from the balance sheet date and related allowances are considered non-current and recorded in Deferred income taxes and other assets.

Inventory Valuation

Inventories are stated at lower of cost and net realizable value, and valued on either an average or a specific identification cost basis. In some instances, we ship product directly from our supplier to the customer, with the related inventory and cost of sales recognized on a specific identification basis. Inventory costs primarily consist of product cost from the Company’s suppliers, as well as inbound freight, import duties, taxes, insurance and logistics and other handling fees.

Property, Plant and Equipment and Depreciation

Property, plant and equipment are recorded at cost. Depreciation is determined on a straight-line basis for land improvements, buildings and leasehold improvements over 2 to 40 years and for machinery and equipment over 2 to 15 years.

Depreciation and amortization of assets used in manufacturing, warehousing and product distribution are recorded in Cost of sales. Depreciation and amortization of all other assets are recorded in Operating overhead expense.

Software Development Costs

Internal Use Software: Expenditures for major software purchases and software developed for internal use are capitalized and amortized over a 2 to 12-year period on a straight-line basis. The Company’s policy provides for the capitalization of external direct costs of materials and services associated with developing or obtaining internal use computer software. In addition, the Company also capitalizes certain payroll and payroll-related costs for employees who are directly associated with internal use computer software projects. The amount of capitalizable payroll costs with respect to these employees is limited to the time directly spent on such projects. Costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred.

Computer Software to be Sold, Leased or Otherwise Marketed

Computer Software to be Sold, Leased or Otherwise Marketed: Development costs of computer software to be sold, leased or otherwise marketed as an integral part of a product are subject to capitalization beginning when a product’s technological feasibility has been established and ending when a product is available for general release to customers. In most instances, the Company’s products are released soon after technological feasibility has been established. Therefore, software development costs incurred subsequent to achievement of technological feasibility are usually not significant, and generally most software development costs have been expensed as incurred.

Impairment of Long-Lived Assets

The Company reviews the carrying value of long-lived assets or asset groups to be used in operations whenever events or changes in circumstances indicate the carrying amount of the assets might not be recoverable. Factors that would necessitate an impairment assessment include a significant adverse change in the extent or manner in which an asset is used, a significant adverse change in legal factors or the business climate that could affect the value of the asset or a significant decline in the observable market value of an asset, among others. If such facts indicate a potential impairment, the Company would assess the recoverability of an asset group by determining if the carrying value of the asset group exceeds the sum of the projected undiscounted cash flows expected to result from the use and eventual disposition of the assets over the remaining economic life of the primary asset in the asset group. If the recoverability test indicates that the carrying value of the asset group is not recoverable, the Company will estimate the fair value of the asset group using appropriate valuation methodologies, which would typically include an estimate of discounted cash flows. Any impairment would be measured as the difference between the asset group’s carrying amount and its estimated fair value.

Goodwill and Indefinite-Lived Intangible Assets

The Company performs annual impairment tests on goodwill and intangible assets with indefinite lives in the fourth quarter of each fiscal year or when events occur or circumstances change that would, more likely than not, reduce the fair value of a reporting unit or an intangible asset with an indefinite life below its carrying value. Events or changes in circumstances that may trigger interim impairment reviews include significant changes in business climate, operating results, planned investments in the reporting unit, planned divestitures or an expectation the carrying amount may not be recoverable, among other factors. The Company may first assess qualitative factors to determine whether it is more likely than not the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, the Company determines it is more likely than not the fair value of the reporting unit is greater than its carrying amount, the two-step impairment test is unnecessary. The two-step impairment test first requires the Company to estimate the fair value of its reporting units. If the carrying value of a reporting unit exceeds its fair value, the goodwill of that reporting unit is potentially impaired and the Company proceeds to step two of the impairment analysis. In step two of the analysis, the Company measures and records an impairment loss equal to the excess of the carrying value of the reporting unit’s goodwill over its implied fair value, if any.

Indefinite-lived intangible assets primarily consist of acquired trade names and trademarks. The Company may first perform a qualitative assessment to determine whether it is more likely than not an indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, the Company determines it is more likely than not that the indefinite-lived intangible asset is not impaired, no quantitative fair value measurement is necessary. If a quantitative fair value measurement calculation is required for these intangible assets, the Company utilizes the relief-from-royalty method. This method assumes trade names and trademarks have value to the extent their owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires the Company to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital.

Operating Leases

The Company leases retail store space, certain distribution and warehouse facilities, office space, equipment and other non-real estate assets under operating leases. Operating lease agreements may contain rent escalation clauses, renewal options, rent holidays or certain landlord incentives, including tenant improvement allowances. Rent expense for non-cancelable operating leases with scheduled rent increases or landlord incentives are recognized on a straight-line basis over the lease term, beginning with the effective lease commencement date, which is generally the date in which the Company takes possession of or controls the physical use of the property. Certain leases also provide for contingent rent, which is generally determined as a percent of sales in excess of specified levels. A contingent rent liability is recognized together with the corresponding rent expense when specified levels have been achieved or when the Company determines that achieving the specified levels during the period is probable.

Fair Value Measurements

The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives and available-for-sale securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach).

The levels of the fair value hierarchy are described below:


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Inputs other than observable quoted prices for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.


•	Level 3: Unobservable inputs with little or no market data available, which require the reporting entity to develop its own assumptions.

The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement.

Pricing vendors are utilized for a majority of Level 1 and Level 2 investments. These vendors either provide a quoted market price in an active market or use observable inputs without applying significant adjustments in their pricing. Observable inputs include broker quotes, interest rates and yield curves observable at commonly quoted intervals, volatilities and credit risks. The fair value of derivative contracts is determined using observable market inputs such as the daily market foreign currency rates, forward pricing curves, currency volatilities, currency correlations and interest rates and considers nonperformance risk of the Company and its counterparties.

Level 1 investments include U.S. Treasury securities. Assets and liabilities included within Level 2 include commercial paper, U.S. Agency securities, money market funds, time deposits, corporate debt securities and derivative contracts. Level 3 investments are valued using internally developed models with unobservable inputs and are an immaterial portion of our portfolio.

The Company’s fair value measurement process includes comparing fair values to another independent pricing vendor to ensure appropriate fair values are recorded.

Foreign Currency Translation and Foreign Currency Transactions

Adjustments resulting from translating foreign functional currency financial statements into U.S. Dollars are included in the foreign currency translation adjustment, a component of Accumulated other comprehensive income in Total shareholders’ equity.

The Company’s global subsidiaries have various assets and liabilities, primarily receivables and payables, which are denominated in currencies other than their functional currency. These balance sheet items are subject to re-measurement, the impact of which is recorded in Other expense (income), net, within the Consolidated Statements of Income.

Accounting for Derivatives and Hedging Activities

The Company uses derivative financial instruments to reduce its exposure to changes in foreign currency exchange rates and interest rates. All derivatives are recorded at fair value on the Consolidated Balance Sheets and changes in the fair value of derivative financial instruments are either recognized in Accumulated other comprehensive income (a component of Total shareholders’ equity), Long-term debt or Net income depending on the nature of the underlying exposure, whether the derivative is formally designated as a hedge and, if designated, the extent to which the hedge is effective. The Company classifies the cash flows at settlement from derivatives in the same category as the cash flows from the related hedged items. For undesignated hedges and designated cash flow hedges, this is primarily within the Cash provided by operations component of the Consolidated Statements of Cash Flows. For designated net investment hedges, this is within the Cash used by investing activities component of the Consolidated Statements of Cash Flows. For the Company’s fair value hedges, which are interest rate swaps used to mitigate the change in fair value of its fixed-rate debt attributable to changes in interest rates, the related cash flows from periodic interest payments are reflected within the Cash provided by operations component of the Consolidated Statements of Cash Flows.

Hedging Derivatives

The Company elects to record the gross assets and liabilities of its derivative financial instruments on the Consolidated Balance Sheets. The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. Any amounts of cash collateral received related to these instruments associated with the Company’s credit-related contingent features are recorded in Cash and equivalents and Accrued liabilities, the latter of which would further offset against the Company’s derivative asset balance (refer to Note 16 — Risk Management and Derivatives). Any amounts of cash collateral posted related to these instruments associated with the Company’s credit-related contingent features are recorded in Prepaid expenses and other current assets, which would further offset against the Company’s derivative liability balance (refer to Note 16 — Risk Management and Derivatives). Cash collateral received or posted related to the Company’s credit related contingent features is presented in the Cash provided by operations component of the Consolidated Statements of Cash Flows. Any amounts of non-cash collateral received, such as securities, are not recorded on the Consolidated Balance Sheets pursuant to U.S. GAAP.

Cash Flow Hedges

All changes in fair value of derivatives designated as cash flow hedges, excluding any ineffective portion, are recorded in Accumulated other comprehensive income until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified within the Consolidated Statements of Income in the same manner as the underlying exposure. The ineffective portion of the unrealized gains and losses on these contracts, if any, is recorded immediately in earnings. Derivative instruments designated as cash flow hedges must be discontinued when it is no longer probable the forecasted hedged transaction will occur in the initially identified time period. The gains and losses associated with discontinued derivative instruments in Accumulated other comprehensive income will be recognized immediately in Other expense (income), 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 all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will account for the derivative as an undesignated instrument as discussed below.

The purpose of the Company’s foreign exchange risk management program is to lessen both the positive and negative effects of currency fluctuations on the Company’s consolidated results of operations, financial position and cash flows. Foreign currency exposures the Company may elect to hedge in this manner include product cost exposures, non-functional currency denominated external and intercompany revenues, selling and administrative expenses, investments in U.S. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions.

Product cost exposures are primarily generated through non-functional currency denominated product purchases and the foreign currency adjustment program described below. NIKE entities primarily purchase products in two ways: (1) Certain NIKE entities purchase product from the NIKE Trading Company (NTC), a wholly owned sourcing hub that buys NIKE branded products from third party factories, predominantly in U.S. Dollars. The NTC, whose functional currency is the U.S. Dollar, then sells the product to NIKE entities in their respective functional currencies. NTC sales to a NIKE entity with a different functional currency results in a foreign currency exposure for the NTC. (2) Other NIKE entities purchase product directly from third party factories in U.S. Dollars. These purchases generate a foreign currency exposure for those NIKE entities with a functional currency other than the U.S. Dollar.

The Company operates a foreign currency adjustment program with certain factories. The program is designed to more effectively manage foreign currency risk by assuming certain of the factories’ foreign currency exposures, some of which are natural offsets to the Company’s existing foreign currency exposures. Under this program, the Company’s payments to these factories are adjusted for rate fluctuations in the basket of currencies (“factory currency exposure index”) in which the labor, materials and overhead costs incurred by the factories in the production of NIKE branded products (“factory input costs”) are denominated. For the portion of the indices denominated in the local or functional currency of the factory, the Company may elect to place formally designated cash flow hedges. For all currencies within the indices, excluding the U.S. Dollar and the local or functional currency of the factory, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order. Embedded derivative contracts are separated from the related purchase order, as further described within the Embedded Derivatives section below.

The Company’s policy permits the utilization of derivatives to reduce its foreign currency exposures where internal netting or other strategies cannot be effectively employed. Typically, the Company may enter into hedge contracts starting up to 12 to 24 months in advance of the forecasted transaction and may place incremental hedges up to 100% of the exposure by the time the forecasted transaction occurs.

Net Investment Hedges

The Company has, in the past, hedged and may, in the future, hedge the risk of variability in foreign currency-denominated net investments in wholly-owned international operations. All changes in fair value of the derivatives designated as net investment hedges, except ineffective portions, are reported in Accumulated other comprehensive income along with the foreign currency translation adjustments on those investments. The ineffective portion of the unrealized gains and losses on these contracts, if any, are recorded immediately in earnings.

Fair Value Hedges

The Company has, in the past, been exposed to the risk of changes in the fair value of certain fixed-rate debt attributable to changes in interest rates. Derivatives used by the Company to hedge this risk are receive-fixed, pay-variable interest rate swaps. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt.

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 Consolidated Balance Sheets and/or the embedded derivative contracts. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Consolidated Balance Sheets with their corresponding change in fair value recognized in Other expense (income), net, together with the re-measurement gain or loss from the hedged balance sheet position and/or embedded derivative contract.

Embedded Derivatives

As part of the foreign currency adjustment program described above, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order for currencies within the factory currency exposure indices that are neither the U.S. Dollar nor the local or functional currency of the factory. In addition, embedded derivative contracts are created when the Company enters into certain other contractual agreements which have payments that are indexed to currencies that are not the functional currency of either substantial party to the contracts. Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related purchase order and recorded at fair value as a derivative asset or liability on the Consolidated Balance Sheets with their corresponding change in fair value recognized in Other expense (income), net, through the date the foreign currency fluctuations cease to exist.

Stock-Based Compensation

The Company accounts for stock-based compensation by estimating the fair value of options and stock appreciation rights granted under the NIKE, Inc. Stock Incentive Plan and employees’ purchase rights under the employee stock purchase plans (ESPPs) using the Black-Scholes option pricing model. The Company recognizes this fair value as Cost of sales or Operating overhead expense, as applicable, in the Consolidated Statements of Income over the vesting period using the straight-line method.

From time to time, the Company’s Board of Directors authorizes share repurchase programs for the repurchase of Class B Common Stock. The value of repurchased shares is deducted from Total shareholders‘ equity through allocation to Capital in excess of stated value and Retained earnings.

Income Taxes

The Company accounts for income taxes using the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The Company records a valuation allowance to reduce deferred tax assets to the amount management believes is more likely than not to be realized.

The Company recognizes a tax benefit from uncertain tax positions in the financial statements only when it is more likely than not the position will be sustained upon examination by relevant tax authorities. The Company recognizes interest and penalties related to income tax matters in Income tax expense.

Earnings Per Share

Basic earnings per common share is calculated by dividing Net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated by adjusting weighted average outstanding shares, assuming conversion of all potentially dilutive stock options and awards.

Management Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates, including estimates relating to assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Recently Adopted and Recently Issued Accounting Standards

Recently Adopted Accounting Standards

In February 2018, the FASB issued Accounting Standards Update (ASU) No. 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The standard allows for reclassification of stranded tax effects on items resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from Accumulated other comprehensive income to Retained earnings. Tax effects unrelated to the Tax Act are released from Accumulated other comprehensive income using either the specific identification approach or the portfolio approach based on the nature of the underlying item.

The Company early adopted the ASU in the third quarter of fiscal 2018. As a result of the adoption, Retained earnings decreased by $17 million, with a corresponding increase to Accumulated other comprehensive income due to the reduction in the corporate tax rate from 35% to 21%. Refer to Note 9 — Income Taxes for additional information on the impact of the Tax Act.

In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which changes how companies account for certain aspects of share-based payment awards to employees. The Company adopted the ASU in the first quarter of fiscal 2018. The updated guidance requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the income statement. Previously, excess tax benefits and deficiencies were recognized in shareholders’ equity on the balance sheet. This change is required to be applied prospectively. As a result of the adoption, during fiscal 2018, the Company recognized $230 million of excess tax benefits related to share-based payment awards in Income tax expense in the Consolidated Statements of Income.

Additionally, ASU 2016-09 modified the classification of certain share-based payment activities within the statement of cash flows, which the Company applied retrospectively. As a result, for fiscal 2017 and fiscal 2016, the Company reclassified cash inflows of $177 million and $281 million, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations, and reclassified cash outflows of $29 million and $22 million, for the respective periods, related to tax payments for the net settlement of share-based payment awards, from Cash provided by operations to Cash used by financing activities within the Consolidated Statements of Cash Flows.

Recently Issued Accounting Standards

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The update to the standard is effective for the Company on June 1, 2019, with early adoption permitted in any interim period. The Company is currently evaluating the updated guidance, but does not expect the adoption to have a material impact on the Consolidated Financial Statements.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. The updated guidance requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company will adopt the standard on June 1, 2018, using a modified retrospective approach, with the cumulative effect of applying the new standard recognized in retained earnings at the date of adoption. Upon adoption, the Company will record a cumulative effect adjustment reducing Retained earnings, Deferred income taxes and other assets, and Prepaid expenses and other current assets by $507 million, $422 million and $45 million, respectively, and increasing Deferred income taxes and other liabilities by $40 million.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which replaces existing lease accounting guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. The new guidance will require the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company will adopt the standard on June 1, 2019. The ASU is required to be applied using a modified retrospective approach at the beginning of the earliest period presented, with optional practical expedients. The Company continues to assess the effect the guidance will have on its existing accounting policies and the Consolidated Financial Statements and expects there will be an increase in assets and liabilities on the Consolidated Balance Sheets at adoption due to the recording of right-of-use assets and corresponding lease liabilities, which may be material. Refer to Note 15 — Commitments and Contingencies for information about the Company’s lease obligations.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The updated guidance enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The update to the standard is effective for the Company beginning June 1, 2018. The Company does not expect the adoption to have a material impact on the Consolidated Financial Statements.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which replaces existing revenue recognition guidance. The updated guidance requires companies to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires reporting companies to disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt the standard on June 1, 2018 using a modified retrospective approach with the cumulative effect of initially applying the new standard recognized in retained earnings at the date of adoption.

While the Company does not expect the adoption of this standard to have a material impact on the Company’s net Revenues in the Consolidated Statements of Income, revenues for certain wholesale transactions and substantially all digital commerce sales will be recognized upon shipment rather than upon delivery to the customer. Accordingly, the Company will record a cumulative effect adjustment increasing Retained earnings by approximately $23 million on June 1, 2018.

Additionally, provisions for post-invoice sales discounts, returns and miscellaneous claims will be recognized as accrued liabilities rather than as reductions to Accounts receivable, net; and the estimated cost of inventory associated with the provision for sales returns will be recorded within Prepaid expenses and other current assets on the Consolidated Balance Sheets. The remaining provisions of the standard are not expected to have a material impact on the Company’s Consolidated Financial Statements.

Property, Plant and Equipment (Tables)

12 Months Ended

May 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment, net included the following:



	As of May 31,
(In millions)	2018		2017
Land and improvements	$	331	$	285
Buildings	2,195		1,564
Machinery, equipment and internal-use software	4,230		3,867
Leasehold improvements	1,494		1,484
Construction in process	641		758
Total property, plant and equipment, gross	8,891		7,958
Less accumulated depreciation	4,437		3,969
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,454	$	3,989

Identifiable Intangible Assets and Goodwill (Tables)

12 Months Ended

May 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

The following table summarizes the Company’s Identifiable intangible assets, net balances as of May 31, 2018 and 2017:



	As of May 31,
	2018						2017
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired trademarks and other	$	22	$	18	$	4	$	19	$	17	$	2
Indefinite-lived trademarks	281		—		281		281		—		281
INDENTIFIABLE INTANGIBLE ASSETS, NET	$	303	$	18	$	285	$	300	$	17	$	283

Schedule of Finite-Lived Intangible Assets

The following table summarizes the Company’s Identifiable intangible assets, net balances as of May 31, 2018 and 2017:



	As of May 31,
	2018						2017
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired trademarks and other	$	22	$	18	$	4	$	19	$	17	$	2
Indefinite-lived trademarks	281		—		281		281		—		281
INDENTIFIABLE INTANGIBLE ASSETS, NET	$	303	$	18	$	285	$	300	$	17	$	283

Accrued Liabilities (Tables)

12 Months Ended

May 31, 2018

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities included the following:



	As of May 31,
(In millions)	2018		2017
Compensation and benefits, excluding taxes	$	897	$	871
Endorsement compensation	425		396
Dividends payable	320		300
Import and logistics costs	268		257
Taxes other than income taxes payable	224		196
Fair value of derivatives	184		168
Advertising and marketing	140		125
Collateral received from counterparties to hedging instruments	23		—
Other⁽¹⁾	788		698
TOTAL ACCRUED LIABILITIES	$	3,269	$	3,011


(1)	Other consists of various accrued expenses with no individual item accounting for more than 5% of the total Accrued liabilities balance at May 31, 2018 and 2017.

Fair Value Measurements (Tables)

12 Months Ended

May 31, 2018

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 and liabilities measured at fair value on a recurring basis as of May 31, 2018 and 2017, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Refer to Note 1 — Summary of Significant Accounting Policies for additional detail regarding the Company’s fair value measurement methodology.



	As of May 31, 2018
(In millions)	Assets at Fair Value		Cash Equivalents		Short-term Investments		Other Long-term Assets
Cash	$	415	$	415	$	—	$	—
Level 1:
U.S. Treasury securities	1,178		500		678		—
Level 2:
Time deposits	925		907		18		—
U.S. Agency securities	102		100		2		—
Commercial paper and bonds	451		153		298		—
Money market funds	2,174		2,174		—		—
Total level 2	3,652		3,334		318		—
Level 3:
Non-marketable preferred stock	11		—		—		11
TOTAL	$	5,256	$	4,249	$	996	$	11



	As of May 31, 2017
(In millions)	Assets at Fair Value		Cash Equivalents		Short-term Investments		Other Long-term Assets
Cash	$	505	$	505	$	—	$	—
Level 1:
U.S. Treasury securities	1,545		159		1,386		—
Level 2:
Time deposits	813		769		44		—
U.S. Agency securities	522		150		372		—
Commercial paper and bonds	820		251		569		—
Money market funds	1,974		1,974		—		—
Total level 2	4,129		3,144		985		—
Level 3:
Non-marketable preferred stock	10		—		—		10
TOTAL	$	6,189	$	3,808	$	2,371	$	10

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 as of May 31, 2018 and 2017, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement.



	As of May 31, 2018
	Derivative Assets						Derivative Liabilities
(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⁾	$	389	$	237	$	152	$	182	$	182	$	—
Embedded derivatives	11		3		8		8		2		6
TOTAL	$	400	$	240	$	160	$	190	$	184	$	6

(1)

If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $182 million as of May 31, 2018. As of that date, the Company had received $23 million of cash collateral from various counterparties related to these foreign exchange derivative instruments. No amount of collateral was posted on the Company’s derivative liability balance as of May 31, 2018.



	As of May 31, 2017
	Derivative Assets						Derivative Liabilities
(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⁾	$	231	$	216	$	15	$	246	$	166	$	80
Embedded derivatives	10		1		9		8		2		6
TOTAL	$	241	$	217	$	24	$	254	$	168	$	86


(1)	If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balance related to these foreign exchange derivative instruments.

The following table presents the fair values of derivative instruments included within the Consolidated Balance Sheets as of May 31, 2018 and 2017:



	Derivative Assets					Derivative Liabilities
(In millions)	Balance Sheet Location	2018		2017		Balance Sheet Location	2018		2017
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	118	$	113	Accrued liabilities	$	156	$	59
Foreign exchange forwards and options	Deferred income taxes and other assets	152		13		Deferred income taxes and other liabilities	—		73
Total derivatives formally designated as hedging instruments		270		126			156		132
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	119		103		Accrued liabilities	26		107
Embedded derivatives	Prepaid expenses and other current assets	3		1		Accrued liabilities	2		2
Foreign exchange forwards and options	Deferred income taxes and other assets	—		2		Deferred income taxes and other liabilities	—		7
Embedded derivatives	Deferred income taxes and other assets	8		9		Deferred income taxes and other liabilities	6		6
Total derivatives not designated as hedging instruments		130		115			34		122
TOTAL DERIVATIVES		$	400	$	241		$	190	$	254

Short-Term Borrowings and Credit Lines (Tables)

12 Months Ended

May 31, 2018

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Notes payable and interest-bearing accounts payable to Sojitz Corporation of America (“Sojitz America”) as of May 31, 2018 and 2017 are summarized below:



	As of May 31,
	2018					2017
(Dollars in millions)	Borrowings		Interest Rate			Borrowings		Interest Rate
Notes payable:
Commercial paper	$	325	1.77	%		$	325	0.86	%
U.S. operations	1		0.00	%	⁽¹⁾	—		0.00	%	⁽¹⁾
Non-U.S. operations	10		18.11	%	⁽¹⁾	—		0.00	%	⁽¹⁾
TOTAL NOTES PAYABLE	$	336				$	325
Interest-bearing accounts payable:
Sojitz America	$	61	2.82	%		$	51	1.78	%


(1)	Weighted average interest rate includes non-interest bearing overdrafts.

Long-Term Debt (Tables)

12 Months Ended

May 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt, net of unamortized premiums, discounts and debt issuance costs, comprises the following:



						Book Value Outstanding as of May 31,
Scheduled Maturity (Dollars and Yen in millions)	Original Principal		Interest Rate		Interest Payments	2018		2017
Corporate Bond Payables:⁽¹⁾⁽²⁾
May 1, 2023	$	500	2.25	%	Semi-Annually	$	498	$	497
November 1, 2026	$	1,000	2.38	%	Semi-Annually	994		993
May 1, 2043	$	500	3.63	%	Semi-Annually	495		495
November 1, 2045	$	1,000	3.88	%	Semi-Annually	982		981
November 1, 2046	$	500	3.38	%	Semi-Annually	490		490
Japanese Yen Notes:⁽³⁾
August 20, 2001 through November 20, 2020	¥	9,000	2.60	%	Quarterly	10		14
August 20, 2001 through November 20, 2020	¥	4,000	2.00	%	Quarterly	5		7
Total						3,474		3,477
Less current maturities						6		6
TOTAL LONG-TERM DEBT						$	3,468	$	3,471


(1)	These senior unsecured obligations rank equally with the Company’s other unsecured and unsubordinated indebtedness.

(2)

The bonds are redeemable at the Company’s option up to three months prior to the scheduled maturity date for the bonds maturing in 2023 and 2026, and up to six months prior to the scheduled maturity date for the bonds maturing in 2043, 2045 and 2046, at a price equal to the greater of (i) 100% of the aggregate principal amount of the notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments, plus in each case, accrued and unpaid interest. Within three and six months to scheduled maturity, respectively, the bonds also feature a par call provision, which allows for the bonds to be redeemed at a price equal to 100% of the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest.


(3)	NIKE Logistics YK assumed a total of ¥13.0 billion in loans as part of its agreement to purchase a distribution center in Japan, which serves as collateral for the loans. These loans mature in equal quarterly installments during the period August 20, 2001 through November 20, 2020.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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+ Details

Income Taxes (Tables)

12 Months Ended

May 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes is as follows:



	Year Ended May 31,
(In millions)	2018		2017		2016
Income before income taxes:
United States	$	744	$	1,240	$	956
Foreign	3,581		3,646		3,667
TOTAL INCOME BEFORE INCOME TAXES	$	4,325	$	4,886	$	4,623

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes is as follows:



	Year Ended May 31,
(In millions)	2018		2017			2016
Current:
United States
Federal	$	1,167	$	398		$	304
State	45		82			71
Foreign	533		439			568
Total	1,745		919			943
Deferred:
United States
Federal	595		(279		)	(57		)
State	25		(9		)	(16		)
Foreign	27		15			(7		)
Total	647		(273		)	(80		)
TOTAL INCOME TAX EXPENSE	$	2,392	$	646		$	863

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation from the U.S. statutory federal income tax rate to the effective income tax rate is as follows:



	Year Ended May 31,
	2018		2017		2016
Federal income tax rate	29.2	%	35.0	%	35.0	%
State taxes, net of federal benefit	1.2	%	1.1	%	1.1	%
Foreign earnings	-18.4	%	-20.7	%	-18.2	%
Transition tax related to the Tax Act	43.3	%	—	%	—	%
Remeasurement of deferred tax assets and liabilities related to the Tax Act	3.7	%	—	%	—	%
Excess tax benefits from share-based compensation	-5.3	%	—	%	—	%
Resolution of a U.S. tax matter	—	%	-3.2	%	—	%
Other, net	1.6	%	1.0	%	0.8	%
EFFECTIVE INCOME TAX RATE	55.3	%	13.2	%	18.7	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities comprise the following:



	As of May 31,
(In millions)	2018			2017
Deferred tax assets:
Inventories	$	73		$	90
Sales return reserves	104			130
Deferred compensation	250			348
Stock-based compensation	135			225
Reserves and accrued liabilities	102			88
Net operating loss carry-forwards	88			84
Foreign tax credit carry-forwards	—			208
Undistributed earnings of foreign subsidiaries	—			173
Other	106			106
Total deferred tax assets	858			1,452
Valuation allowance	(95		)	(82		)
Total deferred tax assets after valuation allowance	763			1,370
Deferred tax liabilities:
Foreign withholding tax on undistributed earnings of foreign subsidiaries	(155		)	—
Property, plant and equipment	(167		)	(254		)
Intangibles	(77		)	(90		)
Other	(26		)	(2		)
Total deferred tax liabilities	(425		)	(346		)
NET DEFERRED TAX ASSET	$	338		$	1,024

Unrecognized Tax Benefits Reconciliation

The following is a reconciliation of the changes in the gross balance of unrecognized tax benefits:



	As of May 31,
(In millions)	2018			2017			2016
Unrecognized tax benefits, beginning of the period	$	461		$	506		$	438
Gross increases related to prior period tax positions	19			31			49
Gross decreases related to prior period tax positions	(12		)	(163		)	(20		)
Gross increases related to current period tax positions	249			115			81
Settlements	—			(12		)	(13		)
Lapse of statute of limitations	(20		)	(21		)	(17		)
Changes due to currency translation	1			5			(12		)
UNRECOGNIZED TAX BENEFITS, END OF THE PERIOD	$	698		$	461		$	506

Summary of Operating Loss Carryforwards

The Company has available domestic and foreign loss carry-forwards of $289 million at May 31, 2018. Such losses will expire as follows:



	Year Ending May 31,
(In millions)	2019		2020		2021		2022		2023-2039		Indefinite		Total
Net operating losses	$	1	$	5	$	2	$	1	$	91	$	189	$	289

Common Stock and Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2018

Share-based Compensation [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following table summarizes the Company’s total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable:



	Year Ended May 31,
(In millions)	2018		2017		2016
Stock options⁽¹⁾	$	149	$	145	$	171
ESPPs	34		36		31
Restricted stock	35		34		34
TOTAL STOCK-BASED COMPENSATION EXPENSE	$	218	$	215	$	236


(1)	Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is recorded for employees eligible for accelerated stock option vesting upon retirement. Accelerated stock option expense was $18 million, $14 million and $30 million for the years ended May 31, 2018, 2017 and 2016, respectively.

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

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



	Year Ended May 31,
	2018		2017		2016
Dividend yield	1.2	%	1.1	%	1.0	%
Expected volatility	16.4	%	17.4	%	23.6	%
Weighted average expected life (in years)	6.0		6.0		5.8
Risk-free interest rate	2.0	%	1.3	%	1.7	%

Schedule of Share-based Compensation, Stock Options, Activity

The following summarizes the stock option transactions under the plan discussed above:



	Shares⁽¹⁾		Weighted Average Option Price
	(In millions)
Options outstanding May 31, 2015	116.2		$	23.50
Exercised	(22.5	)	17.75
Forfeited	(2.3	)	39.96
Granted	20.6		56.41
Options outstanding May 31, 2016	112.0		30.38
Exercised	(17.1	)	20.42
Forfeited	(2.3	)	49.47
Granted	12.2		57.81
Options outstanding May 31, 2017	104.8		34.79
Exercised	(24.1	)	25.07
Forfeited	(4.3	)	55.31
Granted	16.8		59.08
Options outstanding May 31, 2018	93.2		$	40.73
Options exercisable at May 31,
2016	66.5		$	21.48
2017	67.9		26.03
2018	58.5		31.60


(1)	Includes stock appreciation rights transactions.

Earnings Per Share (Tables)

12 Months Ended

May 31, 2018

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 options, including shares under employee stock purchase plans, to purchase an additional 42.9 million, 30.5 million and 0.2 million shares of common stock outstanding for the years ended May 31, 2018, 2017 and 2016, respectively, because the options were anti-dilutive.



	Year Ended May 31,
(In millions, except per share data)	2018		2017		2016
Determination of shares:
Weighted average common shares outstanding	1,623.8		1,657.8		1,697.9
Assumed conversion of dilutive stock options and awards	35.3		34.2		44.6
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,659.1		1,692.0		1,742.5

Earnings per common share:
Basic	$	1.19	$	2.56	$	2.21
Diluted	$	1.17	$	2.51	$	2.16

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

May 31, 2018

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

Schedule of Accumulated Other Comprehensive Income

The changes in Accumulated other comprehensive income, net of tax, were as follows:



(In millions)	Foreign Currency Translation Adjustment⁽¹⁾			Cash Flow Hedges			Net Investment Hedges⁽¹⁾		Other			Total
Balance at May 31, 2017	$	(191	)	$	(52	)	$	115	$	(85	)	$	(213	)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications⁽²⁾	(6		)	(52		)	—		2			(56		)
Reclassifications to net income of previously deferred (gains) losses⁽³⁾	—			128			—		32			160
Total other comprehensive income (loss)	(6		)	76			—		34			104
Reclassifications to retained earnings in accordance with ASU 2018-02⁽⁴⁾	24			(7		)	—		—			17
Balance at May 31, 2018	$	(173	)	$	17		$	115	$	(51	)	$	(92	)


(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 $(24) million, $(3) million, $0 million, $(4) million and $(31) million, respectively.


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


(4)	Refer to Note 1 — Summary of Significant Accounting Policies for additional information on the adoption of ASU 2018-02 during the third quarter of fiscal 2018.



(In millions)	Foreign Currency Translation Adjustment⁽¹⁾			Cash Flow Hedges			Net Investment Hedges⁽¹⁾		Other			Total
Balance at May 31, 2016	$	(207	)	$	463		$	115	$	(53	)	$	318
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications⁽²⁾	15			118			—		(14		)	119
Reclassifications to net income of previously deferred (gains) losses⁽³⁾	1			(633		)	—		(18		)	(650		)
Total other comprehensive income (loss)	16			(515		)	—		(32		)	(531		)
Balance at May 31, 2017	$	(191	)	$	(52	)	$	115	$	(85	)	$	(213	)


(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, $24 million, $0 million, $3 million and $27 million, respectively.


(3)	Net of tax (benefit) expense of $0 million, $(3) million, $0 million, $(3) million and $(6) million, respectively.

Reclassification out of Accumulated Other Comprehensive Income

The following table summarizes the reclassifications from Accumulated other comprehensive income to the Consolidated Statements of Income:



	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income						Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income

	Year Ended May 31,
(In millions)	2018			2017
Gains (losses) on foreign currency translation adjustment	$	—		$	(1	)	Other expense (income), net
Total before tax	—			(1		)
Tax (expense) benefit	—			—
Gain (loss) net of tax	—			(1		)
Gains (losses) on cash flow hedges:
Foreign exchange forwards and options	34			96			Revenues
Foreign exchange forwards and options	(90		)	339			Cost of sales
Foreign exchange forwards and options	1			—			Total selling and administrative expense
Foreign exchange forwards and options	(69		)	199			Other expense (income), net
Interest rate swaps	(7		)	(4		)	Interest expense (income), net
Total before tax	(131		)	630
Tax (expense) benefit	3			3
Gain (loss) net of tax	(128		)	633
Gains (losses) on other	(32		)	15			Other expense (income), net
Total before tax	(32		)	15
Tax (expense) benefit	—			3
Gain (loss) net of tax	(32		)	18
Total net gain (loss) reclassified for the period	$	(160	)	$	650

Commitments and Contingencies (Tables)

12 Months Ended

May 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases

Amounts of minimum future annual commitments under non-cancelable operating and capital leases are as follows (in millions):



	2019		2020		2021		2022		2023		Thereafter		Total
Operating leases	$	589	$	523	$	472	$	412	$	361	$	1,608	$	3,965
Capital leases and other financing obligations⁽¹⁾	$	44	$	37	$	40	$	38	$	36	$	229	$	424


(1)	Capital leases and other financing obligations include payments related to build-to-suit lease arrangements.

Schedule of Future Minimum Lease Payments for Operating Leases

Amounts of minimum future annual commitments under non-cancelable operating and capital leases are as follows (in millions):



	2019		2020		2021		2022		2023		Thereafter		Total
Operating leases	$	589	$	523	$	472	$	412	$	361	$	1,608	$	3,965
Capital leases and other financing obligations⁽¹⁾	$	44	$	37	$	40	$	38	$	36	$	229	$	424


(1)	Capital leases and other financing obligations include payments related to build-to-suit lease arrangements.

Risk Management and Derivatives (Tables)

12 Months Ended

May 31, 2018

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 as of May 31, 2018 and 2017, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement.



	As of May 31, 2018
	Derivative Assets						Derivative Liabilities
(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⁾	$	389	$	237	$	152	$	182	$	182	$	—
Embedded derivatives	11		3		8		8		2		6
TOTAL	$	400	$	240	$	160	$	190	$	184	$	6

(1)

If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $182 million as of May 31, 2018. As of that date, the Company had received $23 million of cash collateral from various counterparties related to these foreign exchange derivative instruments. No amount of collateral was posted on the Company’s derivative liability balance as of May 31, 2018.



	As of May 31, 2017
	Derivative Assets						Derivative Liabilities
(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⁾	$	231	$	216	$	15	$	246	$	166	$	80
Embedded derivatives	10		1		9		8		2		6
TOTAL	$	241	$	217	$	24	$	254	$	168	$	86


(1)	If the foreign exchange derivative instruments had been netted in the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017. As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balance related to these foreign exchange derivative instruments.

The following table presents the fair values of derivative instruments included within the Consolidated Balance Sheets as of May 31, 2018 and 2017:



	Derivative Assets					Derivative Liabilities
(In millions)	Balance Sheet Location	2018		2017		Balance Sheet Location	2018		2017
Derivatives formally designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	$	118	$	113	Accrued liabilities	$	156	$	59
Foreign exchange forwards and options	Deferred income taxes and other assets	152		13		Deferred income taxes and other liabilities	—		73
Total derivatives formally designated as hedging instruments		270		126			156		132
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	Prepaid expenses and other current assets	119		103		Accrued liabilities	26		107
Embedded derivatives	Prepaid expenses and other current assets	3		1		Accrued liabilities	2		2
Foreign exchange forwards and options	Deferred income taxes and other assets	—		2		Deferred income taxes and other liabilities	—		7
Embedded derivatives	Deferred income taxes and other assets	8		9		Deferred income taxes and other liabilities	6		6
Total derivatives not designated as hedging instruments		130		115			34		122
TOTAL DERIVATIVES		$	400	$	241		$	190	$	254

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

The following tables present the amounts affecting the Consolidated Statements of Income for the years ended May 31, 2018, 2017 and 2016:



(In millions)	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives⁽¹⁾									Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income⁽¹⁾
	Year Ended May 31,									Location of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	Year Ended May 31,

	2018			2017			2016				2018			2017			2016
Derivatives designated as cash flow hedges:
Foreign exchange forwards and options	$	19		$	72		$	90		Revenues	$	34		$	96		$	(88	)
Foreign exchange forwards and options	(50		)	43			(57		)	Cost of sales	(90		)	339			586
Foreign exchange forwards and options	1			(4		)	—			Total selling and administrative expense	1			—			—
Foreign exchange forwards and options	(19		)	37			(25		)	Other expense (income), net	(69		)	199			219
Interest rate swaps⁽²⁾	—			(54		)	(83		)	Interest expense (income), net	(7		)	(4		)	—
Total designated cash flow hedges	$	(49	)	$	94		$	(75	)		$	(131	)	$	630		$	717


(1)	For the years ended May 31, 2018, 2017 and 2016, the amounts recorded in Other expense (income), net as a result of hedge ineffectiveness and 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, 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
	Year Ended May 31,
(In millions)	2018			2017			2016
Derivatives designated as fair value hedges:
Interest rate swaps⁽¹⁾	$	—		$	—		$	2		Interest expense (income), net
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	(57		)	(44		)	(68		)	Other expense (income), net
Embedded derivatives	$	(4	)	$	(2	)	$	(2	)	Other expense (income), net


(1)	All interest rate swaps designated as fair value hedges meet the shortcut method requirements under the accounting standards for derivatives and hedging. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. Refer to “Fair Value Hedges” in this note for additional detail.

Operating Segments and Related Information (Tables)

12 Months Ended

May 31, 2018

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, therefore, are provided below. Additions to long-lived assets as presented in the following table represent capital expenditures.



	Year Ended May 31,
(In millions)	2018			2017			2016
REVENUES
North America	$	14,855		$	15,216		$	14,764
Europe, Middle East & Africa	9,242			7,970			7,568
Greater China	5,134			4,237			3,785
Asia Pacific & Latin America	5,166			4,737			4,317
Global Brand Divisions	88			73			73
Total NIKE Brand	34,485			32,233			30,507
Converse	1,886			2,042			1,955
Corporate	26			75			(86		)
TOTAL NIKE, INC. REVENUES	$	36,397		$	34,350		$	32,376
EARNINGS BEFORE INTEREST AND TAXES
North America	$	3,600		$	3,875		$	3,763
Europe, Middle East & Africa	1,587			1,507			1,787
Greater China	1,807			1,507			1,372
Asia Pacific & Latin America	1,189			980			1,002
Global Brand Divisions	(2,658		)	(2,677		)	(2,596		)
Total NIKE Brand	5,525			5,192			5,328
Converse	310			477			487
Corporate	(1,456		)	(724		)	(1,173		)
Total NIKE, Inc. Earnings Before Interest and Taxes	4,379			4,945			4,642
Interest expense (income), net	54			59			19
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES	$	4,325		$	4,886		$	4,623
ADDITIONS TO LONG-LIVED ASSETS
North America	$	196		$	223		$	242
Europe, Middle East & Africa	240			173			234
Greater China	76			51			44
Asia Pacific & Latin America	49			59			62
Global Brand Divisions	286			278			258
Total NIKE Brand	847			784			840
Converse	22			30			39
Corporate	325			387			312
TOTAL ADDITIONS TO LONG-LIVED ASSETS	$	1,194		$	1,201		$	1,191
DEPRECIATION
North America	$	160		$	140		$	133
Europe, Middle East & Africa	116			106			85
Greater China	56			54			48
Asia Pacific & Latin America	55			54			42
Global Brand Divisions	217			233			230
Total NIKE Brand	604			587			538
Converse	33			28			27
Corporate	110			91			84
TOTAL DEPRECIATION	$	747		$	706		$	649

Reconciliation of Assets from Segment to Consolidated



	As of May 31,
(In millions)	2018			2017
ACCOUNTS RECEIVABLE, NET
North America	$	1,443		$	1,798
Europe, Middle East & Africa	870			690
Greater China	101			102
Asia Pacific & Latin America	720			693
Global Brand Divisions	102			86
Total NIKE Brand	3,236			3,369
Converse	240			297
Corporate	22			11
TOTAL ACCOUNTS RECEIVABLE, NET	$	3,498		$	3,677
INVENTORIES
North America	$	2,270		$	2,218
Europe, Middle East & Africa	1,433			1,327
Greater China	580			463
Asia Pacific & Latin America	687			694
Global Brand Divisions	91			68
Total NIKE Brand	5,061			4,770
Converse	268			286
Corporate	(68		)	(1		)
TOTAL INVENTORIES	$	5,261		$	5,055
PROPERTY, PLANT AND EQUIPMENT, NET
North America	$	848		$	819
Europe, Middle East & Africa	849			709
Greater China	256			225
Asia Pacific & Latin America	339			340
Global Brand Divisions	597			533
Total NIKE Brand	2,889			2,626
Converse	115			125
Corporate	1,450			1,238
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	$	4,454		$	3,989

Revenue from External Customers by Products and Services

Revenues from external customers for NIKE Brand products are attributable to sales of footwear, apparel and equipment. Other revenues from external customers consist primarily of sales by Converse.



	Year Ended May 31,
(In millions)	2018		2017		2016
Footwear	$	22,268	$	21,081	$	19,871
Apparel	10,733		9,654		9,067
Equipment	1,396		1,425		1,496
Other	2,000		2,190		1,942
TOTAL NIKE, INC. REVENUES	$	36,397	$	34,350	$	32,376

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions		12 Months Ended
	Nov. 19, 2015	May 31, 2018 USD ($)	May 31, 2017 USD ($)	May 31, 2016 USD ($)	Jun. 01, 2018 USD ($)	Feb. 28, 2018 USD ($)	Dec. 23, 2015	May 31, 2015 USD ($)
Significant Accounting Policies [Line Items]
Stock split ratio for 100 percent of stock dividend declared	2
Dividend payable as result of stock split (as a percent)							100.00%
Capital in excess of stated value		$ (6,384)	$ (5,710)
Total shareholders’ equity		9,812	12,407	$ 12,258				$ 12,707
Reserve balances for sales discounts, returns and miscellaneous claims		675	643
Total advertising and promotion expenses		3,577	3,341	3,278
Prepaid advertising and promotion expenses		730	558
Allowance for uncollectible accounts receivable		30	19
Excess tax benefit, amount		230
Cash inflow (outflow) from operations		4,955	3,846	3,399
Accumulated other comprehensive income (loss)		(92)	(213)
Cash inflow (outflow) from financing activities		(4,835)	(2,148)	(2,974)
Retained earnings		3,517	6,907
Deferred income taxes and other assets		(2,509)	(2,787)
Prepaid expenses and other current assets		(1,130)	(1,150)
Deferred income taxes and other liabilities		$ 3,216	1,907
Minimum \| Building
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		2 years
Minimum \| Leasehold improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		2 years
Minimum \| Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		2 years
Minimum \| Software and Software Development Costs
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		2 years
Minimum \| Land Improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		2 years
Maximum \| Building
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		40 years
Maximum \| Leasehold improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		40 years
Maximum \| Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		15 years
Maximum \| Software and Software Development Costs
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		12 years
Maximum \| Land Improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, minimum useful life (in years)		40 years
Class B Common Stock
Significant Accounting Policies [Line Items]
Stock split ratio for 100 percent of stock dividend declared	2
Class A Convertible Common Stock
Significant Accounting Policies [Line Items]
Stock split ratio for 100 percent of stock dividend declared	2
Prepaid expenses and other current assets
Significant Accounting Policies [Line Items]
Prepaid advertising and promotion expenses		$ 359	311
Deferred income taxes and other assets
Significant Accounting Policies [Line Items]
Prepaid advertising and promotion expenses		371	247
Accounting Standard Update 2016-09, Excess Tax Benefit Component
Significant Accounting Policies [Line Items]
Cash inflow (outflow) from operations			177	281
Cash inflow (outflow) from financing activities			(177)	(281)
Accounting Standard Update 2016-09, Statutory Tax Withholding Component
Significant Accounting Policies [Line Items]
Cash inflow (outflow) from operations			29	22
Cash inflow (outflow) from financing activities			(29)	(22)
Accounting Standards Update 2018-02
Significant Accounting Policies [Line Items]
Accumulated other comprehensive income (loss)						$ 17
Retained earnings						$ (17)
Subsequent Event \| Accounting Standards Update 2016-16
Significant Accounting Policies [Line Items]
Retained earnings					$ (507)
Deferred income taxes and other assets					422
Prepaid expenses and other current assets					45
Deferred income taxes and other liabilities					40
Subsequent Event \| Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Significant Accounting Policies [Line Items]
Retained earnings					$ 23
Repurchases Of Class B Common Stock \| Restatement Adjustment
Significant Accounting Policies [Line Items]
Capital in excess of stated value			2,900
Retained earnings			2,900
Retained Earnings
Significant Accounting Policies [Line Items]
Total shareholders’ equity		3,517	6,907	6,899				7,293
Retained Earnings \| Repurchases Of Class B Common Stock \| Restatement Adjustment
Significant Accounting Policies [Line Items]
Total shareholders’ equity			200	100				2,600
Capital in Excess of Stated Value
Significant Accounting Policies [Line Items]
Total shareholders’ equity		$ 6,384	5,710	5,038				4,165
Capital in Excess of Stated Value \| Repurchases Of Class B Common Stock \| Restatement Adjustment
Significant Accounting Policies [Line Items]
Total shareholders’ equity			$ (200)	$ (100)				$ (2,600)

Inventories - Additional Information (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Inventory Disclosure [Abstract]
Inventory balances, were substantially all finished goods	$ 5,261	$ 5,055

Property Plant and Equipment (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 8,891	$ 7,958
Less accumulated depreciation	4,437	3,969
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET	4,454	3,989
Land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	331	285
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	2,195	1,564
Machinery, equipment and internal-use software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	4,230	3,867
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	1,494	1,484
Construction in process
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 641	$ 758

Identifiable Intangible Assets and Goodwill - Additional Information (Detail) - USD ($)	May 31, 2018	May 31, 2017
Goodwill and Intangible Assets Disclosure [Line Items]
Accumulated Amortization	$ 18,000,000	$ 17,000,000
Indefinite-lived trademarks	281,000,000	281,000,000
Intangible assets, gross carrying amount	303,000,000	300,000,000
Intangible assets, net carrying amount	285,000,000	283,000,000
Goodwill	154,000,000	139,000,000
Goodwill, impaired, accumulated impairment loss	0
Converse
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	65,000,000	65,000,000
Acquired trademarks and other
Goodwill and Intangible Assets Disclosure [Line Items]
Gross Carrying Amount	22,000,000	19,000,000
Accumulated Amortization	18,000,000	17,000,000
Net Carrying Amount	$ 4,000,000	$ 2,000,000

Accrued Liabilities (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Accrued Liabilities, Current [Abstract]
Compensation and benefits, excluding taxes	$ 897	$ 871
Endorsement compensation	425	396
Dividends payable	320	300
Import and logistics costs	268	257
Taxes other than income taxes payable	224	196
Fair value of derivatives	184	168
Advertising and marketing	140	125
Collateral received from counterparties to hedging instruments	23	0
Other	788	698
TOTAL ACCRUED LIABILITIES	$ 3,269	$ 3,011

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Assets, Fair Value Disclosure [Abstract]
Cash	$ 415	$ 505
Assets at Fair Value	5,256	6,189
Cash Equivalents	4,249	3,808
Short-term Investments	996	2,371
Other Long-term Assets	11	10
Fair Value, Inputs, Level 1 \| U.S. Treasury securities
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	1,178	1,545
Cash Equivalents	500	159
Short-term Investments	678	1,386
Other Long-term Assets	0	0
Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	3,652	4,129
Cash Equivalents	3,334	3,144
Short-term Investments	318	985
Other Long-term Assets	0	0
Fair Value, Inputs, Level 2 \| Time deposits
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	925	813
Cash Equivalents	907	769
Short-term Investments	18	44
Other Long-term Assets	0	0
Fair Value, Inputs, Level 2 \| U.S. Agency securities
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	102	522
Cash Equivalents	100	150
Short-term Investments	2	372
Other Long-term Assets	0	0
Fair Value, Inputs, Level 2 \| Commercial paper and bonds
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	451	820
Cash Equivalents	153	251
Short-term Investments	298	569
Other Long-term Assets	0	0
Fair Value, Inputs, Level 2 \| Money market funds
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	2,174	1,974
Cash Equivalents	2,174	1,974
Short-term Investments	0	0
Other Long-term Assets	0	0
Fair Value, Inputs, Level 3 \| Non-marketable preferred stock
Assets, Fair Value Disclosure [Abstract]
Assets at Fair Value	11	10
Cash Equivalents	0	0
Short-term Investments	0	0
Other Long-term Assets	$ 11	$ 10

Fair Value Measurements - Derivative Assets and Liabilities at Fair Value (Detail) - USD ($)	May 31, 2018	May 31, 2017
Derivatives, Fair Value [Line Items]
Accrued Liabilities	$ 184,000,000	$ 168,000,000
Collateral received from counterparties to hedging instruments	23,000,000	0
Fair Value, Measurements, Recurring
Derivatives, Fair Value [Line Items]
Reduction in derivative assets if netted	182,000,000	187,000,000
Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Reduction in derivative liabilities if netted	182,000,000	187,000,000
Cash and Cash Equivalents
Derivatives, Fair Value [Line Items]
Collateral received from counterparties to hedging instruments	23,000,000
Cash and Cash Equivalents \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Collateral received from counterparties to hedging instruments	23,000,000	0
Derivative liability, fair value of collateral	0	0
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring
Derivatives, Fair Value [Line Items]
Assets at Fair Value	400,000,000	241,000,000
Other Current Assets	240,000,000	217,000,000
Other Long-term Assets	160,000,000	24,000,000
Liabilities at Fair Value	190,000,000	254,000,000
Accrued Liabilities	184,000,000	168,000,000
Other Long-term Liabilities	6,000,000	86,000,000
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Assets at Fair Value	389,000,000	231,000,000
Other Current Assets	237,000,000	216,000,000
Other Long-term Assets	152,000,000	15,000,000
Liabilities at Fair Value	182,000,000	246,000,000
Accrued Liabilities	182,000,000	166,000,000
Other Long-term Liabilities	0	80,000,000
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring \| Embedded derivatives
Derivatives, Fair Value [Line Items]
Assets at Fair Value	11,000,000	10,000,000
Other Current Assets	3,000,000	1,000,000
Other Long-term Assets	8,000,000	9,000,000
Liabilities at Fair Value	8,000,000	8,000,000
Accrued Liabilities	2,000,000	2,000,000
Other Long-term Liabilities	$ 6,000,000	$ 6,000,000

Fair Value Measurements - Additional Information (Detail) - USD ($)	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value transfers between fair value hierarchy levels	$ 0	$ 0
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	960,000,000
Available-for-sale securities with maturity dates over one year and less than five years from purchase date	36,000,000
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	$ 70,000,000	$ 27,000,000	$ 12,000,000

Short-Term Borrowings and Credit Lines - Notes Payable to Banks and Interest Bearing Accounts Payable to Sojitz Corporation of America (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Notes payable:
TOTAL NOTES PAYABLE	$ 336	$ 325
Sojitz America
Interest-bearing accounts payable:
Sojitz America	$ 61	$ 51
Sojitz America - interest rate	2.82%	1.78%
Commercial paper
Notes payable:
TOTAL NOTES PAYABLE	$ 325	$ 325
Notes payable - interest rate	1.77%	0.86%
Notes Payable
Notes payable:
TOTAL NOTES PAYABLE	$ 336	$ 325
Notes Payable \| UNITED STATES
Notes payable:
TOTAL NOTES PAYABLE	$ 1	$ 0
Notes payable - interest rate	0.00%	0.00%
Notes Payable \| Non-U.S. operations
Notes payable:
TOTAL NOTES PAYABLE	$ 10	$ 0
Notes payable - interest rate	18.11%	0.00%

Short Term Borrowings and Credit Lines - Additional Information (Detail) - USD ($)	12 Months Ended
	May 31, 2018	May 31, 2017	Aug. 28, 2015
Short-term Debt [Line Items]
Notes payable	$ 336,000,000	$ 325,000,000
Commercial paper
Short-term Debt [Line Items]
Notes payable	325,000,000	$ 325,000,000
Borrowing capacity	$ 2,000,000,000
Notes payable - interest rate	1.77%	0.86%
Revolving Credit Facility
Short-term Debt [Line Items]
Borrowing capacity			$ 2,000,000,000
Line of credit facility extension period after maturity	1 year
Revolving credit facility, fee	0.045%
Line of credit facility, amount outstanding	$ 0	$ 0
Sojitz America \| Interest Bearing Accounts Payable
Short-term Debt [Line Items]
Accounts payable, due date period (in days)	60 days
60-day London Interbank Offered Rate (LIBOR) \| Interest Bearing Accounts Payable
Short-term Debt [Line Items]
Basis spread on variable rate, above LIBOR	0.75%
London Interbank Offered Rate (LIBOR) \| Revolving Credit Facility
Short-term Debt [Line Items]
Basis spread on variable rate, above LIBOR	0.455%

Long-Term Debt - Net of Unamortized Premiums and Discounts and Swap Fair Value Adjustments (Detail)	12 Months Ended
	May 31, 2018 USD ($)	May 31, 2018 JPY (¥)	May 31, 2017 USD ($)
Debt Instrument [Line Items]
Long Term Debt	$ 3,474,000,000		$ 3,477,000,000
Less current maturities	6,000,000		6,000,000
TOTAL LONG-TERM DEBT	3,468,000,000		3,471,000,000
Corporate Bond Payables \| 2.25% Corporate bond, payable May 1, 2023
Debt Instrument [Line Items]
Long-term debt, original principal	$ 500,000,000
Long-term debt, interest rate	2.25%	2.25%
Long-term debt, interest payment	Semi-Annually
Long Term Debt	$ 498,000,000		497,000,000
Corporate Bond Payables \| 2.38% Corporate bond, payable November 1, 2026
Debt Instrument [Line Items]
Long-term debt, original principal	$ 1,000,000,000
Long-term debt, interest rate	2.375%	2.375%
Long-term debt, interest payment	Semi-Annually
Long Term Debt	$ 994,000,000		993,000,000
Corporate Bond Payables \| 3.63% Corporate bond, payable May 1, 2043
Debt Instrument [Line Items]
Long-term debt, original principal	$ 500,000,000
Long-term debt, interest rate	3.625%	3.625%
Long-term debt, interest payment	Semi-Annually
Long Term Debt	$ 495,000,000		495,000,000
Corporate Bond Payables \| 3.88% Corporate bond, payable November 1, 2045
Debt Instrument [Line Items]
Long-term debt, original principal	$ 1,000,000,000
Long-term debt, interest rate	3.875%	3.875%
Long-term debt, interest payment	Semi-Annually
Long Term Debt	$ 982,000,000		981,000,000
Corporate Bond Payables \| 3.38% Corporate bond, payable November 1, 2046
Debt Instrument [Line Items]
Long-term debt, original principal	$ 500,000,000
Long-term debt, interest rate	3.375%	3.375%
Long-term debt, interest payment	Semi-Annually
Long Term Debt	$ 490,000,000		490,000,000
Notes Payable \| 2.60% Japanese Yen note, maturing August 20, 2001 through November 20, 2020
Debt Instrument [Line Items]
Long-term debt, original principal \| ¥		¥ 9,000,000,000
Long-term debt, interest rate	2.60%	2.60%
Long-term debt, interest payment	Quarterly
Long Term Debt	$ 10,000,000		14,000,000
Notes Payable \| 2.00% Japanese Yen note, maturing August 20, 2001 through November 20, 2020
Debt Instrument [Line Items]
Long-term debt, original principal \| ¥		¥ 4,000,000,000
Long-term debt, interest rate	2.00%	2.00%
Long-term debt, interest payment	Quarterly
Long Term Debt	$ 5,000,000		$ 7,000,000

Long-Term Debt - Narrative (Detail) - 12 months ended May 31, 2018	USD ($)	JPY (¥)
2.6% and 2.0% Japanese Yen note, maturing August 20, 2001 through November 20, 2020
Debt Instrument [Line Items]
Long-term debt, original principal \| ¥		¥ 13,000,000,000
Corporate Bond Payables
Debt Instrument [Line Items]
Percent of aggregate principal amount of the notes to be redeemed	100.00%
Corporate Bond Payables \| 2.25% Corporate bond, payable May 1, 2023
Debt Instrument [Line Items]
Long-term debt, original principal \| $	$ 500,000,000
Corporate Bond Payables \| 3.63% Corporate bond, payable May 1, 2043
Debt Instrument [Line Items]
Long-term debt, original principal \| $	500,000,000
Corporate Bond Payables \| 3.88% Corporate bond, payable November 1, 2045
Debt Instrument [Line Items]
Long-term debt, original principal \| $	$ 1,000,000,000
Notes Payable \| 2.60% Japanese Yen note, maturing August 20, 2001 through November 20, 2020
Debt Instrument [Line Items]
Long-term debt, original principal \| ¥		9,000,000,000
Notes Payable \| 2.00% Japanese Yen note, maturing August 20, 2001 through November 20, 2020
Debt Instrument [Line Items]
Long-term debt, original principal \| ¥		¥ 4,000,000,000

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Debt Instrument [Line Items]
Maturity of long-term debt next fiscal year	$ 6
Maturity of long-term debt in year two	6
Maturity of long-term debt in year three	3
Maturity of long-term debt in year four	0
Maturity of long-term debt in year five	500
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair value of long term debt	$ 3,294	$ 3,401

Income Taxes - Income before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Income before income taxes:
United States	$ 744	$ 1,240	$ 956
Foreign	3,581	3,646	3,667
Income before income taxes	$ 4,325	$ 4,886	$ 4,623

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Current:
Federal	$ 1,167	$ 398	$ 304
State	45	82	71
Foreign	533	439	568
Total	1,745	919	943
Deferred:
Federal	595	(279)	(57)
State	25	(9)	(16)
Foreign	27	15	(7)
Total	647	(273)	(80)
Income tax expense	$ 2,392	$ 646	$ 863

Income Taxes - Reconciliation from United States Statutory Federal Income Tax Rate to Effective Income Tax Rate (Detail)	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax rate	29.20%	35.00%	35.00%
State taxes, net of federal benefit	1.20%	1.10%	1.10%
Foreign earnings	(18.40%)	(20.70%)	(18.20%)
Transition tax related to the Tax Act	43.30%		0.00%
Remeasurement of deferred tax assets and liabilities related to the Tax Act	3.70%		0.00%
Excess tax benefits from share-based compensation	(5.30%)		0.00%
Resolution of a U.S. tax matter	0.00%	(3.20%)	0.00%
Other, net	1.60%	1.00%	0.80%
EFFECTIVE INCOME TAX RATE	55.30%	13.20%	18.70%

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Deferred tax assets:
Inventories	$ 73	$ 90
Sales return reserves	104	130
Deferred compensation	250	348
Stock-based compensation	135	225
Reserves and accrued liabilities	102	88
Net operating loss carry-forwards	88	84
Foreign tax credit carry-forwards	0	208
Undistributed earnings of foreign subsidiaries	0	173
Other	106	106
Total deferred tax assets	858	1,452
Valuation allowance	(95)	(82)
Total deferred tax assets after valuation allowance	763	1,370
Deferred tax liabilities:
Foreign withholding tax on undistributed earnings of foreign subsidiaries	(155)	0
Property, plant and equipment	(167)	(254)
Intangibles	(77)	(90)
Other	(26)	(2)
Total deferred tax liabilities	(425)	(346)
NET DEFERRED TAX ASSET	$ 338	$ 1,024

Income Taxes - Reconciliation of Changes in Gross Balance of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, as of the beginning of the period	$ 461	$ 506	$ 438
Gross increases related to prior period tax positions	19	31	49
Gross decreases related to prior period tax positions	(12)	(163)	(20)
Gross increases related to current period tax positions	249	115	81
Settlements	0	(12)	(13)
Lapse of statute of limitations	(20)	(21)	(17)
Increase due to currency translation	1	5
Decrease due to currency translation			(12)
UNRECOGNIZED TAX BENEFITS, AS OF THE END OF THE PERIOD	$ 698	$ 461	$ 506

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	May 31, 2018	Feb. 28, 2018	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015
Income Tax Contingency [Line Items]
Federal income tax rate			29.20%	35.00%	35.00%
Tax Cuts And Jobs Act Of 2017, incomplete accounting, transition tax for accumulated foreign earnings, provisional income tax expense		$ 2,010	$ 1,875
Tax Cuts And Jobs Act Of 2017, incomplete accounting, change in tax rate, provisional income tax expense			$ 158
Income tax benefits attributable to employee stock-based compensation				$ 177	$ 281
Effective tax rate, change from prior period				(5.50%)
Tax Cuts And Jobs Act Of 2017, incomplete accounting, transition tax for accumulated foreign earnings, increase (decrease) in provisional income tax expense	$ 135
Tax Cuts And Jobs Act Of 2017, incomplete accounting, transition tax for accumulated foreign earnings, installments period			8 years
Tax Cuts And Jobs Act Of 2017, incomplete accounting, change in tax rate, deferred tax asset, provisional income tax expense, gross			$ 158
Total gross unrecognized tax benefits, excluding related interest and penalties	698		698	$ 461	506	$ 438
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	478		478
Increase (decrease) in liability for payment of interest and penalties	(14)		(14)	(38)	45
Accrued interest and penalties related to uncertain tax positions (excluding federal benefit)	157		157	171
Estimated decrease in total gross unrecognized tax benefits as a result of resolutions of global tax examinations and expiration of applicable statutes of limitations	163		163
Reinvestment of the cumulative undistributed earnings of certain foreign subsidiaries	12,200		$ 12,200
Tax holiday, expiration period			2021
Decrease in income tax expense related to tax holiday			$ 126	$ 187	$ 173
Decrease in income tax expense related to tax holiday per diluted share, (in dollars per share)			$ 0.08	$ 0.11	$ 0.10
Valuation allowance increase (decrease) related to tax benefits of certain subsidiaries with operating losses			$ 13	$ 30	$ 43
Foreign tax credit carry-forwards	0		0	$ 208
Available domestic and foreign loss carry-forwards	$ 289		289
Deferred income taxes and other liabilities
Income Tax Contingency [Line Items]
Tax Cuts And Jobs Act Of 2017, incomplete accounting, transition tax for accumulated foreign earnings, provisional income tax expense			$ 1,078

Income Taxes - Available Domestic and Foreign Loss Carryforwards (Detail) $ in Millions	May 31, 2018 USD ($)
Income Tax Disclosure [Abstract]
2019	$ 1
2020	5
2021	2
2022	1
2023-2039	91
Indefinite	189
Net Operating Losses	$ 289

Redeemable Preferred Stock - Additional Information (Detail) - Non-marketable preferred stock $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2018 USD ($) $ / shares
Temporary Equity [Line Items]
Redeemable preferred stock, par value	$ 1
Redeemable preferred stock, redeemable value (in dollars) \| $	$ 0.3
Redeemable preferred stock, dividends payable annually per share	$ 0.10

Common Stock and Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	May 31, 2018 USD ($) $ / shares shares	May 31, 2017 USD ($) $ / shares shares	May 31, 2016 USD ($) $ / shares shares
Class A Convertible Common Stock
Common Stock and Share Based Compensation [Line Items]
Common stock, no par value \| $ / shares	$ 0
Common stock, number of shares authorized (in shares) \| shares	400,000,000
Common stock conversion	Each share of Class A Common Stock is convertible into one share of Class B Common Stock.
Common stock, Class A conversion ratio to Class B (in shares)	1
Class B Common Stock
Common Stock and Share Based Compensation [Line Items]
Common stock, no par value \| $ / shares	$ 0
Common stock, number of shares authorized (in shares) \| shares	2,400,000,000
Stock Incentive Plan \| Class B Common Stock
Common Stock and Share Based Compensation [Line Items]
Shares available for grant (in shares) \| shares	718,000,000
Stock options vesting period (in years)	4 years
Stock options expiration from the date of grant (in years)	10 years
Minimum term of market traded options for estimates of expected volatility (in years)	1 year
Weighted average remaining contractual life for options outstanding (in years)	5 years 8 months 12 days
Weighted average remaining contractual life for options exercisable (in years)	4 years 4 months 24 days
Aggregate intrinsic value for options outstanding	$ 2,896
Aggregate intrinsic value for options exercisable	2,352
Total intrinsic value of options exercised	889	$ 594	$ 946
Stock options \| Stock Incentive Plan
Common Stock and Share Based Compensation [Line Items]
Unrecognized compensation costs from stock options, net of estimated forfeitures	$ 195
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
Stock options \| Stock Incentive Plan \| Class B Common Stock
Common Stock and Share Based Compensation [Line Items]
Weighted average fair value per share of the options granted (in dollars per share) \| $ / shares	$ 9.82	$ 9.38	$ 12.66
Employee Stock \| Class B Common Stock
Common Stock and Share Based Compensation [Line Items]
Employee stock purchase plans, payroll deductions	10.00%
Employee stock purchase plan offering period	6 months
Shares purchased, price as percentage of lower of the fair market value	85.00%
Purchase of shares by employee (in shares) \| shares	3,100,000	3,100,000	2,500,000
Restricted stock \| Stock Incentive Plan
Common Stock and Share Based Compensation [Line Items]
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
Unrecognized compensation costs from restricted stock, net of estimated forfeitures	$ 104
Restricted stock \| Stock Incentive Plan \| Class B Common Stock
Common Stock and Share Based Compensation [Line Items]
Restricted and unrestricted stock granted to key employees under 1990 Plan, number of shares (in shares) \| shares	1,800,000	400,000	1,000,000
Restricted stock granted to key employees under 1990 Plan, weighted average values per share (in dollars per shares) \| $ / shares	$ 62.51	$ 57.59	$ 54.87
Restricted stock vested, fair value	$ 113	$ 60	$ 49

Common Stock and Stock-Based Compensation - Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 218	$ 215	$ 236
Accelerated stock option expense	18	14	30
Class B Common Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	218	215	236
Class B Common Stock \| Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	149	145	171
Class B Common Stock \| ESPPs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	34	36	31
Class B Common Stock \| Restricted stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 35	$ 34	$ 34

Common Stock and Stock-Based Compensation - Weighted Average Assumptions Used to Estimate Fair Values (Detail) - Stock options	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.20%	1.10%	1.00%
Expected volatility	16.40%	17.40%	23.60%
Weighted average expected life	6 years	6 years	5 years 9 months 18 days
Risk-free interest rate	2.00%	1.30%	1.70%

Common Stock and Stock-Based Compensation - Stock Option Transactions Under Plan (Detail) - Stock Incentive Plan - $ / shares shares in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Options Outstanding - Shares
Beginning Balance (in shares)	104.8	112.0	116.2
Exercised (in shares)	(24.1)	(17.1)	(22.5)
Forfeited (in shares)	(4.3)	(2.3)	(2.3)
Granted (in shares)	16.8	12.2	20.6
Ending Balance (in shares)	93.2	104.8	112.0
Options exercisable (in shares)	58.5	67.9	66.5
Options Outstanding - Weighted-Average Option Price
Beginning Balance (in dollars per share)	$ 34.79	$ 30.38	$ 23.50
Exercised (in dollars per share)	25.07	20.42	17.75
Forfeited (in dollars per share)	55.31	49.47	39.96
Granted (in dollars per share)	59.08	57.81	56.41
Ending Balance (in dollars per share)	40.73	34.79	30.38
Options exercisable (in dollars per share)	$ 31.60	$ 26.03	$ 21.48

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
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	42.9	30.5	0.2

Earnings Per Share - Reconciliation from Basic Earnings Per Share to Diluted Earnings Per Share (Detail) - $ / shares shares in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Determination of shares:
Weighted average common shares outstanding	1,623.8	1,657.8	1,697.9
Assumed conversion of dilutive stock options and awards	35.3	34.2	44.6
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,659.1	1,692.0	1,742.5
Earnings per common share:
Basic (in dollars per share)	$ 1.19	$ 2.56	$ 2.21
Diluted (in dollars per share)	$ 1.17	$ 2.51	$ 2.16

Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Deferred income taxes and other long-term liabilities
Defined Contribution Plan Disclosure [Line Items]
Deferred compensation plan liabilities	$ 641	$ 569
Liability related to the unfunded pension plan	70	107
General and Administrative Expense
Defined Contribution Plan Disclosure [Line Items]
401(k) employee savings plans, expenses	80	75	$ 72
General and Administrative Expense \| Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Contribution and cash award expenses included in selling and administrative expenses	59	68	64
General and Administrative Expense \| Long Term Incentive Plan
Defined Contribution Plan Disclosure [Line Items]
Contribution and cash award expenses included in selling and administrative expenses	$ 33	$ 21	$ 85

Accumulated Other Comprehensive Income - Changes in AOCI (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 12,407	$ 12,258	$ 12,707
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	(56)	119
Reclassifications to net income of previously deferred (gains) losses, net of tax	160	(650)
Total other comprehensive income (loss), net of tax	104	(531)	(928)
Reclassifications to retained earnings in accordance with ASU 2018-02(4)	17
Ending balance	9,812	12,407	12,258
Other comprehensive income, before reclassification, tax benefit (expense)	(31)	27
Reclassification from AOCI, current period, tax expense (benefit)	(3)	(6)
Foreign Currency Translation Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(191)	(207)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	(6)	15
Reclassifications to net income of previously deferred (gains) losses, net of tax	0	1
Total other comprehensive income (loss), net of tax	(6)	16
Reclassifications to retained earnings in accordance with ASU 2018-02(4)	24
Ending balance	(173)	(191)	(207)
Other comprehensive income, before reclassification, tax benefit (expense)	(24)	0
Reclassification from AOCI, current period, tax expense (benefit)	0	0
Cash Flow Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(52)	463
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	(52)	118
Reclassifications to net income of previously deferred (gains) losses, net of tax	128	(633)
Total other comprehensive income (loss), net of tax	76	(515)
Reclassifications to retained earnings in accordance with ASU 2018-02(4)	(7)
Ending balance	17	(52)	463
Other comprehensive income, before reclassification, tax benefit (expense)	(3)	24
Reclassification from AOCI, current period, tax expense (benefit)	(3)	(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
Reclassifications to retained earnings in accordance with ASU 2018-02(4)	0
Ending balance	115	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	(85)	(53)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications, net of tax	2	(14)
Reclassifications to net income of previously deferred (gains) losses, net of tax	32	(18)
Total other comprehensive income (loss), net of tax	34	(32)
Reclassifications to retained earnings in accordance with ASU 2018-02(4)	0
Ending balance	(51)	(85)	(53)
Other comprehensive income, before reclassification, tax benefit (expense)	(4)	3
Reclassification from AOCI, current period, tax expense (benefit)	0	(3)
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(213)	318
Other comprehensive income (loss):
Ending balance	$ (92)	$ (213)	$ 318

Accumulated Other Comprehensive Income - Reclassification out of AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	$ (66)	$ 196	$ 140
Interest expense (income), net	(54)	(59)	(19)
Revenues	36,397	34,350	32,376
Cost of sales	(20,441)	(19,038)	(17,405)
Selling and administrative expense	(11,511)	(10,563)	(10,469)
Income before income taxes	4,325	4,886	4,623
Tax benefit (expense)	(2,392)	(646)	$ (863)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss), net of tax	(160)	650
Gains (losses) on foreign currency translation adjustment \| Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	0	(1)
Income before income taxes	0	(1)
Tax benefit (expense)	0	0
Gain (loss), net of tax	0	(1)
Gain (losses) on cash flow hedges \| Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(131)	630
Tax benefit (expense)	3	3
Gain (loss), net of tax	(128)	633
Gain (losses) on cash flow hedges \| Foreign exchange forwards and options \| Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	(69)	199
Revenues	34	96
Cost of sales	(90)	339
Selling and administrative expense	1	0
Gain (losses) on cash flow hedges \| Interest rate swaps \| Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest expense (income), net	(7)	(4)
Other \| Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	(32)	15
Income before income taxes	(32)	15
Tax benefit (expense)	0	3
Gain (loss), net of tax	$ (32)	$ 18

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Expiration date of operating lease, lower limit	1 year
Expiration date of operating lease, upper limit	17 years
Rent expense	$ 820	$ 731	$ 661
Minimum rental commitments, operating leases, 2019	589
Minimum rental commitments, operating leases, 2020	523
Minimum rental commitments, operating leases, 2021	472
Minimum rental commitments, operating leases, 2022	412
Minimum rental commitments, operating leases, 2023	361
Minimum rental commitments, operating leases, thereafter	1,608
Operating leases	3,965
Minimum commitments, capital leases, 2019	44
Minimum commitments, capital leases, 2020	37
Minimum commitments, capital leases, 2021	40
Minimum commitments, capital leases, 2022	38
Minimum commitments, capital leases, 2023	36
Minimum commitments, capital leases, thereafter	229
Capital leases and other financing obligations	424
Letters of credit outstanding	$ 165	$ 152

Risk Management and Derivatives - Additional Information (Detail) - USD ($)	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Ineffectiveness for cash flow hedges		$ 0	$ 0
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	$ 96,000,000
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
Fair value hedge ineffectiveness		0	0
Ineffectiveness on net investment hedges	$ 0	0	$ 0
Derivative, net liability position, aggregate fair value	0
Collateral received from counterparties to hedging instruments	23,000,000	0
Not designated as derivative instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	6,100,000,000
Embedded derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	260,000,000
Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Minimum fair value of outstanding derivative above which the credit related contingent features require the derivative party to post collateral	$ 50,000,000
Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional period for forecasted transaction expected to occur	2 months
Percentage of anticipated exposures hedged (percent)	100.00%
Total notional amount of outstanding derivatives	$ 12,200,000,000
Derivatives designated as cash flow hedges \| Minimum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Typical time period that anticipated exposures are hedged against (in months)	12 months
Derivatives designated as cash flow hedges \| Maximum
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Typical time period that anticipated exposures are hedged against (in months)	24 months
Derivatives designated as fair value hedges \| Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	$ 0
Fair value hedge ineffectiveness	0
Derivatives designated as net investment hedges \| Foreign Exchange Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets (liabilities), at fair value, net	0
Cash and Cash Equivalents
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Collateral received from counterparties to hedging instruments	23,000,000
Cash and Cash Equivalents \| Foreign Exchange Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Collateral received from counterparties to hedging instruments	$ 23,000,000	$ 0

Risk Management and Derivatives - FV of Derivative Instruments Included within Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 400	$ 241
Derivative Liabilities	190	254
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Assets	270	126
Derivative Liabilities	156	132
Designated as Hedging Instrument \| Foreign Exchange Contract \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	118	113
Designated as Hedging Instrument \| Foreign Exchange Contract \| Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	152	13
Designated as Hedging Instrument \| Foreign Exchange Contract \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	156	59
Designated as Hedging Instrument \| Foreign Exchange Contract \| Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	0	73
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative Assets	130	115
Derivative Liabilities	34	122
Derivatives not designated as hedging instruments \| Foreign Exchange Contract \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	119	103
Derivatives not designated as hedging instruments \| Foreign Exchange Contract \| Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0	2
Derivatives not designated as hedging instruments \| Foreign Exchange Contract \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	26	107
Derivatives not designated as hedging instruments \| Foreign Exchange Contract \| Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	0	7
Derivatives not designated as hedging instruments \| Embedded derivatives \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	3	1
Derivatives not designated as hedging instruments \| Embedded derivatives \| Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	8	9
Derivatives not designated as hedging instruments \| Embedded derivatives \| Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	2	2
Derivatives not designated as hedging instruments \| Embedded derivatives \| Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 6	$ 6

Risk Management and Derivatives - Amounts Affecting Consolidated Statements of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
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	$ (57)	$ (44)	$ (68)
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	(4)	(2)	(2)
Derivatives designated as cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(49)	94	(75)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(131)	630	717
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	19	72	90
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	34	96	(88)
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	(50)	43	(57)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(90)	339	586
Derivatives designated as cash flow hedges \| Foreign Exchange Contract \| Selling and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	1	(4)	0
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	1	0	0
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	(19)	37	(25)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(69)	199	219
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	(54)	(83)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	(7)	(4)	0
Derivatives designated as fair value hedges \| Interest rate swaps \| Interest (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 0	$ 0	$ 2

Operating Segments and Related Information - Information by Operating Segments (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 36,397	$ 34,350	$ 32,376
Earnings Before Interest and Taxes	4,379	4,945	4,642
Interest expense (income), net	54	59	19
Income before income taxes	4,325	4,886	4,623
Additions to Long-lived Assets	1,194	1,201	1,191
Depreciation	747	706	649
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	26	75	(86)
Earnings Before Interest and Taxes	(1,456)	(724)	(1,173)
Additions to Long-lived Assets	325	387	312
Depreciation	110	91	84
NIKE Brand
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	34,485	32,233	30,507
Earnings Before Interest and Taxes	5,525	5,192	5,328
Additions to Long-lived Assets	847	784	840
Depreciation	604	587	538
NIKE Brand \| Global Brand Divisions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	88	73	73
Earnings Before Interest and Taxes	(2,658)	(2,677)	(2,596)
Additions to Long-lived Assets	286	278	258
Depreciation	217	233	230
NIKE Brand \| North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	14,855	15,216	14,764
Earnings Before Interest and Taxes	3,600	3,875	3,763
Additions to Long-lived Assets	196	223	242
Depreciation	160	140	133
NIKE Brand \| Europe, Middle East & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	9,242	7,970	7,568
Earnings Before Interest and Taxes	1,587	1,507	1,787
Additions to Long-lived Assets	240	173	234
Depreciation	116	106	85
NIKE Brand \| Greater China
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,134	4,237	3,785
Earnings Before Interest and Taxes	1,807	1,507	1,372
Additions to Long-lived Assets	76	51	44
Depreciation	56	54	48
NIKE Brand \| Asia Pacific & Latin America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,166	4,737	4,317
Earnings Before Interest and Taxes	1,189	980	1,002
Additions to Long-lived Assets	49	59	62
Depreciation	55	54	42
Converse
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,886	2,042	1,955
Earnings Before Interest and Taxes	310	477	487
Additions to Long-lived Assets	22	30	39
Depreciation	$ 33	$ 28	$ 27

Operating Segments and Related Information - Accounts Receivable Net Inventories and Property Plant and Equipment Net by Operating Segments (Detail) - USD ($) $ in Millions	May 31, 2018	May 31, 2017
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	$ 3,498	$ 3,677
Inventories	5,261	5,055
Property, Plant and Equipment, net	4,454	3,989
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	22	11
Inventories	(68)	(1)
Property, Plant and Equipment, net	1,450	1,238
Converse
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	240	297
Inventories	268	286
Property, Plant and Equipment, net	115	125
NIKE Brand
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	3,236	3,369
Inventories	5,061	4,770
Property, Plant and Equipment, net	2,889	2,626
NIKE Brand \| Global Brand Divisions
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	102	86
Inventories	91	68
Property, Plant and Equipment, net	597	533
NIKE Brand \| North America
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	1,443	1,798
Inventories	2,270	2,218
Property, Plant and Equipment, net	848	819
NIKE Brand \| Europe, Middle East & Africa
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	870	690
Inventories	1,433	1,327
Property, Plant and Equipment, net	849	709
NIKE Brand \| Greater China
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	101	102
Inventories	580	463
Property, Plant and Equipment, net	256	225
NIKE Brand \| Asia Pacific & Latin America
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts Receivable, net	720	693
Inventories	687	694
Property, Plant and Equipment, net	$ 339	$ 340

Operating Segments and Related Information - Revenues by Major Product Line (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Revenue from External Customer [Line Items]
Revenues	$ 36,397	$ 34,350	$ 32,376
Footwear
Revenue from External Customer [Line Items]
Revenues	22,268	21,081	19,871
Apparel
Revenue from External Customer [Line Items]
Revenues	10,733	9,654	9,067
Equipment
Revenue from External Customer [Line Items]
Revenues	1,396	1,425	1,496
Other
Revenue from External Customer [Line Items]
Revenues	$ 2,000	$ 2,190	$ 1,942

Operating Segments and Related Information - Additional Information (Detail) $ in Millions	12 Months Ended
	May 31, 2018 USD ($) customer	May 31, 2017 USD ($) customer	May 31, 2016 USD ($) customer
Sales Revenue, Net
Regional Reporting Disclosure [Line Items]
Number of customers exceeding risk threshold \| customer	0	0	0
Concentration risk percentage	10.00%
UNITED STATES
Regional Reporting Disclosure [Line Items]
Revenue	$ 15,314	$ 15,778	$ 15,304
Long-lived assets attributable to operations (Domestic)	2,930	2,629
Japan
Regional Reporting Disclosure [Line Items]
Long-lived assets attributable to operations (Domestic)	237	223
BELGIUM
Regional Reporting Disclosure [Line Items]
Long-lived assets attributable to operations (Domestic)	534	390
CHINA
Regional Reporting Disclosure [Line Items]
Long-lived assets attributable to operations (Domestic)	$ 262	$ 232

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Millions	12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2016
Allowance for Sales Returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 343	$ 444	$ 379
Charged to Costs and Expenses	640	696	788
Charged to Other Accounts	5	3	(15)
Write-Offs, Net	(658)	(800)	(708)
Balance at End of Period	330	343	444
Allowance for Doubtful Accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	19	43	78
Charged to Costs and Expenses	19	16	52
Charged to Other Accounts	0	0	(2)
Write-Offs, Net	(8)	(40)	(85)
Balance at End of Period	$ 30	$ 19	$ 43