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OPERATING SEGMENTS
 6 Months Ended
Nov. 30, 2022
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 NOVEMBER 30,SIX MONTHS ENDED NOVEMBER 30,
(Dollars in millions)
2022202120222021
REVENUES
North America$5,830 $4,477 $11,340 $9,356 
Europe, Middle East & Africa3,489 3,142 6,822 6,449 
Greater China1,788 1,844 3,444 3,826 
Asia Pacific & Latin America1,599 1,347 3,134 2,812 
Global Brand Divisions18 6 32 13 
Total NIKE Brand12,724 10,816 24,772 22,456 
Converse586 557 1,229 1,186 
Corporate5 (16)1 (37)
TOTAL NIKE, INC. REVENUES$13,315 $11,357 $26,002 $23,605 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,497 $1,235 $2,874 $2,669 
Europe, Middle East & Africa990 806 1,965 1,681 
Greater China511 569 1,052 1,270 
Asia Pacific & Latin America485 388 985 869 
Global Brand Divisions(1,226)(1,071)(2,413)(2,058)
Converse153 132 362 336 
Corporate(744)(503)(1,318)(1,048)
Interest expense (income), net16 55 29 112 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,650 $1,501 $3,478 $3,607 
NOVEMBER 30,MAY 31,
(Dollars in millions)
20222022
ACCOUNTS RECEIVABLE, NET
North America$2,365 $1,850 
Europe, Middle East & Africa1,647 1,351 
Greater China225 406 
Asia Pacific & Latin America(1)
804 664 
Global Brand Divisions87 113 
Total NIKE Brand5,128 4,384 
Converse244 230 
Corporate65 53 
TOTAL ACCOUNTS RECEIVABLE, NET$5,437 $4,667 
INVENTORIES
North America$4,299 $4,098 
Europe, Middle East & Africa2,112 1,887 
Greater China1,083 1,044 
Asia Pacific & Latin America(1)
890 686 
Global Brand Divisions214 197 
Total NIKE Brand8,598 7,912 
Converse353 279 
Corporate375 229 
TOTAL INVENTORIES$9,326 $8,420 
NOVEMBER 30,MAY 31,
(Dollars in millions)
20222022
PROPERTY, PLANT AND EQUIPMENT, NET
North America$720 $639 
Europe, Middle East & Africa902 920 
Greater China284 303 
Asia Pacific & Latin America(1)
269 274 
Global Brand Divisions794 789 
Total NIKE Brand2,969 2,925 
Converse41 49 
Corporate1,844 1,817 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,854 $4,791 
(1)Excludes assets held-for-sale as of May 31, 2022. See Note 13 — Acquisitions and Divestitures for additional information.