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OPERATING SEGMENTS
 9 Months Ended
Feb. 28, 2023
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)
2023202220232022
REVENUES
North America$4,913 $3,882 $16,253 $13,238 
Europe, Middle East & Africa3,246 2,779 10,068 9,228 
Greater China1,994 2,160 5,438 5,986 
Asia Pacific & Latin America1,601 1,461 4,735 4,273 
Global Brand Divisions12 41 44 54 
Total NIKE Brand11,766 10,323 36,538 32,779 
Converse612 567 1,841 1,753 
Corporate12 (19)13 (56)
TOTAL NIKE, INC. REVENUES$12,390 $10,871 $38,392 $34,476 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,190 $967 $4,064 $3,636 
Europe, Middle East & Africa785 713 2,750 2,394 
Greater China702 784 1,754 2,054 
Asia Pacific & Latin America485 478 1,470 1,347 
Global Brand Divisions(1,160)(975)(3,573)(3,033)
Converse164 168 526 504 
Corporate(696)(412)(2,014)(1,460)
Interest expense (income), net(7)53 22 165 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,477 $1,670 $4,955 $5,277 
FEBRUARY 28,MAY 31,
(Dollars in millions)
20232022
ACCOUNTS RECEIVABLE, NET
North America$1,718 $1,850 
Europe, Middle East & Africa1,392 1,351 
Greater China294 406 
Asia Pacific & Latin America(1)
707 664 
Global Brand Divisions81 113 
Total NIKE Brand4,192 4,384 
Converse263 230 
Corporate58 53 
TOTAL ACCOUNTS RECEIVABLE, NET$4,513 $4,667 
INVENTORIES
North America$4,054 $4,098 
Europe, Middle East & Africa2,066 1,887 
Greater China1,060 1,044 
Asia Pacific & Latin America(1)
957 686 
Global Brand Divisions219 197 
Total NIKE Brand8,356 7,912 
Converse343 279 
Corporate206 229 
TOTAL INVENTORIES$8,905 $8,420 
FEBRUARY 28,MAY 31,
(Dollars in millions)
20232022
PROPERTY, PLANT AND EQUIPMENT, NET
North America$733 $639 
Europe, Middle East & Africa966 920 
Greater China293 303 
Asia Pacific & Latin America(1)
272 274 
Global Brand Divisions802 789 
Total NIKE Brand3,066 2,925 
Converse39 49 
Corporate1,834 1,817 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,939 $4,791 
(1)Excludes assets held-for-sale as of May 31, 2022. See Note 14 — Acquisitions and Divestitures for additional information.