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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
May 31, 2014
Disclosure Summary Of Significant Accounting Policies Additional Information [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The following are selected line items from the Company's Consolidated Financial Statements illustrating the effect of these corrections and the correction of other immaterial errors:
 
 
NIKE, Inc. Consolidated Statements of Income
 
 
Year Ended May 31, 2013
 
Year Ended May 31, 2012
(In millions, except per share data)
 
As Reported
 
Adjustment
 
As Revised
 
As Reported
 
Adjustment
 
As Revised
Total selling and administrative expense
 
$
7,780

 
$
16

 
$
7,796

 
$
7,065

 
$
14

 
$
7,079

Income before income taxes
 
3,272

 
(16
)
 
3,256

 
3,025

 
(14
)
 
3,011

Income tax expense
 
808

 
(3
)
 
805

 
756

 
(2
)
 
754

NET INCOME FROM CONTINUING OPERATIONS
 
2,464

 
(13
)
 
2,451

 
2,269

 
(12
)
 
2,257

NET INCOME
 
$
2,485

 
$
(13
)
 
$
2,472

 
$
2,223

 
$
(12
)
 
$
2,211

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
$
2.75

 
$
(0.01
)
 
$
2.74

 
$
2.47

 
$
(0.02
)
 
$
2.45

Diluted earnings per common share
 
$
2.69

 
$
(0.01
)
 
$
2.68

 
$
2.42

 
$
(0.02
)
 
$
2.40

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share for NIKE Inc.
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
 
$
2.77

 
$
(0.01
)
 
$
2.76

 
$
2.42

 
$
(0.02
)
 
$
2.40

Diluted earnings per common share
 
$
2.71

 
$
(0.01
)
 
$
2.70

 
$
2.37

 
$
(0.02
)
 
$
2.35

 
 
NIKE, Inc. Consolidated Statements of Comprehensive Income
 
 
Year Ended May 31, 2013
 
Year Ended May 31, 2012
(In millions)
 
As Reported
 
Adjustment
 
As Revised
 
As Reported
 
Adjustment
 
As Revised
Net income
 
$
2,485

 
$
(13
)
 
$
2,472

 
$
2,223

 
$
(12
)
 
$
2,211

TOTAL COMPREHENSIVE INCOME
 
$
2,610

 
$
(13
)
 
$
2,597

 
$
2,277

 
$
(12
)
 
$
2,265

 
 
NIKE, Inc. Consolidated Balance Sheet
 
 
May 31, 2013
(In millions)
 
As Reported
 
Adjustment
 
As Revised
ASSETS
 
 
 
 
 
 
Inventories
 
$
3,434

 
$
50

 
$
3,484

Prepaid expenses and other current assets
 
802

 
(46
)
 
756

Total current assets
 
13,626

 
4

 
13,630

Identifiable intangible assets, net
 
382

 
(93
)
 
289

Deferred income taxes and other assets
 
993

 
50

 
1,043

TOTAL ASSETS
 
$
17,584

 
$
(39
)
 
$
17,545

LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
Notes payable
 
$
121

 
$
(23
)
 
$
98

Accounts payable
 
1,646

 
23

 
1,669

Accrued liabilities
 
1,986

 
50

 
2,036

Income taxes payable
 
98

 
(14
)
 
84

Total current liabilities
 
3,926

 
36

 
3,962

Retained earnings
 
5,695

 
(75
)
 
5,620

Total shareholders’ equity
 
11,156

 
(75
)
 
11,081

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
 
$
17,584

 
$
(39
)
 
$
17,545

 
 
NIKE, Inc. Consolidated Statements of Cash Flows
 
 
Year Ended May 31, 2013
 
Year Ended May 31, 2012
(In millions)
 
As Reported
 
Adjustment
 
As Revised
 
As Reported
 
Adjustment
 
As Revised
Cash provided by operations:
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
2,485

 
$
(13
)
 
$
2,472

 
$
2,223

 
$
(12
)
 
$
2,211

Income charges (credits) not affecting cash:
 
 
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
 
21

 
(1
)
 
20

 
(60
)
 
1

 
(59
)
Amortization and other
 
75

 
(9
)
 
66

 
32

 
(9
)
 
23

(Increase) in inventories
 
(197
)
 
(22
)
 
(219
)
 
(805
)
 
(10
)
 
(815
)
Increase in accounts payable, accrued liabilities and income taxes payable
 
41

 
(14
)
 
27

 
470

 
(45
)
 
425

Cash provided by operations
 
3,027

 
(59
)
 
2,968

 
1,899

 
(75
)
 
1,824

Cash (used) provided by investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Purchases of short-term investments
 
(3,702
)
 
(431
)
 
(4,133
)
 
(2,705
)
 
(540
)
 
(3,245
)
Maturities of short-term investments
 
1,501

 
162

 
1,663

 
2,585

 
78

 
2,663

Sales of short-term investments
 
998

 
332

 
1,330

 
1,244

 
477

 
1,721

Additions to property, plant and equipment
 
(636
)
 
38

 
(598
)
 
(597
)
 
34

 
(563
)
Increase in other assets, net of other liabilities
 
(28
)
 
26

 
(2
)
 
(37
)
 
23

 
(14
)
Cash (used) provided by investing activities
 
(1,067
)
 
127

 
(940
)
 
514

 
72

 
586

Cash used by financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Increase (decrease) in notes payable
 
15

 
(5
)
 
10

 
(65
)
 
18

 
(47
)
Cash used by financing activities
 
(1,040
)
 
(5
)
 
(1,045
)
 
(2,118
)
 
18

 
(2,100
)
Net (decrease) increase in cash and equivalents
 
1,020

 
63

 
1,083

 
362

 
15

 
377

Cash and equivalents, beginning of year
 
2,317

 
(63
)
 
2,254

 
1,955

 
(78
)
 
1,877

CASH AND EQUIVALENTS, END OF YEAR
 
$
3,337

 
$
—

 
$
3,337

 
$
2,317

 
$
(63
)
 
$
2,254

 
 
NIKE, Inc. Consolidated Statements of Shareholders' Equity
 
 
Retained Earnings
 
Total Shareholders' Equity
(In millions)
 
As Reported
 
Adjustment
 
As Revised
 
As Reported
 
Adjustment
 
As Revised
Balance at May 31, 2011
 
$
5,801

 
$
(50
)
 
$
5,751

 
$
9,843

 
$
(50
)
 
$
9,793

Net income
 
2,223

 
(12
)
 
2,211

 
2,223

 
(12
)
 
2,211

Balance at May 31, 2012
 
$
5,588

 
$
(62
)
 
$
5,526

 
$
10,381

 
$
(62
)
 
$
10,319

Net income
 
2,485

 
(13
)
 
2,472

 
2,485

 
(13
)
 
2,472

Balance at May 31, 2013
 
$
5,695

 
$
(75
)
 
$
5,620

 
$
11,156

 
$
(75
)
 
$
11,081