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Long-Term Debt (Tables)
 12 Months Ended
May 31, 2021
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 PRINCIPALINTEREST RATEINTEREST PAYMENTS20212020
Corporate Term Debt:(1)(2)
May 1, 2023$500 2.25 %Semi-Annually$499 $499 
March 27, 20251,000 2.40 %Semi-Annually995 994 
November 1, 20261,000 2.38 %Semi-Annually996 995 
March 27, 20271,000 2.75 %Semi-Annually995 994 
March 27, 20301,500 2.85 %Semi-Annually1,490 1,489 
March 27, 20401,000 3.25 %Semi-Annually986 985 
May 1, 2043500 3.63 %Semi-Annually496 495 
November 1, 20451,000 3.88 %Semi-Annually984 984 
November 1, 2046500 3.38 %Semi-Annually491 491 
March 27, 20501,500 3.38 %Semi-Annually1,481 1,480 
Japanese Yen Notes:(3)
August 20, 2001 through November 20, 2020
¥9,000 2.60 %Quarterly$— $2 
August 20, 2001 through November 20, 2020
4,000 2.00 %Quarterly— 1 
Total9,413 9,409 
Less current maturities— 3 
TOTAL LONG-TERM DEBT$9,413 $9,406 
(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 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. However, 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 on or after the Par Call Date, as defined in the respective notes.
(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 matured in equal quarterly installments during the period August 20, 2001 through November 20, 2020.