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Operating Segments
 9 Months Ended
Feb. 28, 2022
Segment Reporting [Abstract]  
Operating Segments
NOTE 12 — 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 FEBRUARY 28,NINE MONTHS ENDED FEBRUARY 28,
(Dollars in millions)
2022202120222021
REVENUES
North America$3,882 $3,564 $13,238 $11,795 
Europe, Middle East & Africa2,779 2,609 9,228 8,477 
Greater China2,160 2,279 5,986 6,357 
Asia Pacific & Latin America1,461 1,315 4,273 3,885 
Global Brand Divisions41 6 54 18 
Total NIKE Brand10,323 9,773 32,779 30,532 
Converse567 570 1,753 1,609 
Corporate(19)14 (56)53 
TOTAL NIKE, INC. REVENUES$10,871 $10,357 $34,476 $32,194 
EARNINGS BEFORE INTEREST AND TAXES
North America$967 $970 $3,636 $3,295 
Europe, Middle East & Africa713 533 2,394 1,885 
Greater China784 973 2,054 2,552 
Asia Pacific & Latin America478 408 1,347 1,112 
Global Brand Divisions(975)(852)(3,033)(2,546)
Converse168 150 504 405 
Corporate(412)(482)(1,460)(1,697)
Interest expense (income), net53 64 165 199 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,670 $1,636 $5,277 $4,807 
FEBRUARY 28,MAY 31,
(Dollars in millions)
20222021
ACCOUNTS RECEIVABLE, NET
North America$1,268 $1,777 
Europe, Middle East & Africa1,189 1,349 
Greater China359 288 
Asia Pacific & Latin America(1)
599 643 
Global Brand Divisions106 128 
Total NIKE Brand3,521 4,185 
Converse256 225 
Corporate50 53 
TOTAL ACCOUNTS RECEIVABLE, NET$3,827 $4,463 
INVENTORIES
North America$3,541 $2,851 
Europe, Middle East & Africa1,737 1,821 
Greater China1,105 1,247 
Asia Pacific & Latin America(1)
721 667 
Global Brand Divisions208 153 
Total NIKE Brand7,312 6,739 
Converse264 290 
Corporate124 (175)
TOTAL INVENTORIES$7,700 $6,854 
FEBRUARY 28,MAY 31,
(Dollars in millions)
20222021
PROPERTY, PLANT AND EQUIPMENT, NET
North America$617 $617 
Europe, Middle East & Africa929 982 
Greater China319 288 
Asia Pacific & Latin America(1)
284 304 
Global Brand Divisions793 780 
Total NIKE Brand2,942 2,971 
Converse52 63 
Corporate1,812 1,870 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,806 $4,904 
(1)Excludes assets held-for-sale as of February 28, 2022 and May 31, 2021. See Note 13 — Acquisitions and Divestitures for additional information.