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Operating Segments
 3 Months Ended
Aug. 31, 2021
Segment Reporting [Abstract]  
Operating Segments
NOTE 11 — OPERATING SEGMENTS
The Company's operating segments are evidence of the structure of the Company's internal organization. The NIKE Brand segments are defined by geographic regions for operations participating in NIKE Brand sales activity.
Each NIKE Brand geographic segment operates predominantly in one industry: the design, development, marketing and selling of athletic footwear, apparel and equipment. The Company's reportable operating segments for the NIKE Brand are: North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA), and include results for the NIKE and Jordan brands.
The Company's NIKE Direct operations are managed within each NIKE Brand geographic operating segment. Converse is also a reportable segment for the Company and operates in one industry: the design, marketing, licensing and selling of athletic lifestyle sneakers, apparel and accessories.
Global Brand Divisions is included within the NIKE Brand for presentation purposes to align with the way management views the Company. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Global Brand Divisions costs represent demand creation and operating overhead expense that include product creation and design expenses centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology.
Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company's headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses.
The primary financial measure used by the Company to evaluate performance of individual operating segments is earnings before interest and taxes (EBIT), which represents Net income before Interest expense (income), net and Income tax expense in the Unaudited Condensed Consolidated Statements of Income.
As part of the Company's centrally managed foreign exchange risk management program, standard foreign currency rates are assigned twice per year to each NIKE Brand entity in the Company's geographic operating segments and to Converse. These rates are set approximately nine and twelve months in advance of the future selling seasons to which they relate (specifically, for each currency, one standard rate applies to the fall and holiday selling seasons and one standard rate applies to the spring and summer selling seasons) based on average market spot rates in the calendar month preceding the date they are established. Inventories and Cost of sales for geographic operating segments and Converse reflect the use of these standard rates to record non-functional currency product purchases in the entity's functional currency. Differences between assigned standard foreign currency rates and actual market rates are included in Corporate, together with foreign currency hedge gains and losses generated from the Company's centrally managed foreign exchange risk management program and other conversion gains and losses.
Accounts receivable, net, Inventories and Property, plant and equipment, net for operating segments are regularly reviewed by management and are therefore provided below.
 THREE MONTHS ENDED AUGUST 31,
(Dollars in millions)
20212020
REVENUES
North America$4,879 $4,225 
Europe, Middle East & Africa3,307 2,910 
Greater China1,982 1,780 
Asia Pacific & Latin America1,465 1,099 
Global Brand Divisions7 4 
Total NIKE Brand11,640 10,018 
Converse629 563 
Corporate(21)13 
TOTAL NIKE, INC. REVENUES$12,248 $10,594 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,434 $1,302 
Europe, Middle East & Africa875 692 
Greater China701 688 
Asia Pacific & Latin America481 280 
Global Brand Divisions(987)(853)
Converse204 168 
Corporate(545)(497)
Interest expense (income), net57 65 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$2,106 $1,715 
AUGUST 31,MAY 31,
(Dollars in millions)
20212021
ACCOUNTS RECEIVABLE, NET
North America$1,445 $1,777 
Europe, Middle East & Africa1,489 1,349 
Greater China348 288 
Asia Pacific & Latin America(1)
681 643 
Global Brand Divisions97 128 
Total NIKE Brand4,060 4,185 
Converse224 225 
Corporate57 53 
TOTAL ACCOUNTS RECEIVABLE, NET$4,341 $4,463 
INVENTORIES
North America$2,851 $2,851 
Europe, Middle East & Africa1,632 1,821 
Greater China1,148 1,247 
Asia Pacific & Latin America(1)
668 667 
Global Brand Divisions188 153 
Total NIKE Brand6,487 6,739 
Converse263 290 
Corporate(51)(175)
TOTAL INVENTORIES$6,699 $6,854 
AUGUST 31,MAY 31,
(Dollars in millions)
20212021
PROPERTY, PLANT AND EQUIPMENT, NET
North America$621 $617 
Europe, Middle East & Africa966 982 
Greater China287 288 
Asia Pacific & Latin America(1)
311 304 
Global Brand Divisions786 780 
Total NIKE Brand2,971 2,971 
Converse58 63 
Corporate1,840 1,870 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,869 $4,904 
(1)Excludes assets held-for-sale as of August 31, 2021 and May 31, 2021. See Note 12 — Acquisitions and Divestitures for additional information.