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OPERATING SEGMENTS
 6 Months Ended
Nov. 30, 2023
Segment Reporting [Abstract]  
OPERATING SEGMENTS
NOTE 10 — 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 taxes 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)
2023202220232022
REVENUES
North America$5,625 $5,830 $11,048 $11,340 
Europe, Middle East & Africa3,567 3,489 7,177 6,822 
Greater China1,863 1,788 3,598 3,444 
Asia Pacific & Latin America1,805 1,599 3,377 3,134 
Global Brand Divisions12 18 25 32 
Total NIKE Brand12,872 12,724 25,225 24,772 
Converse519 586 1,107 1,229 
Corporate(3)5 (5)1 
TOTAL NIKE, INC. REVENUES$13,388 $13,315 $26,327 $26,002 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,526 $1,497 $2,960 $2,874 
Europe, Middle East & Africa927 990 1,857 1,965 
Greater China514 511 1,039 1,052 
Asia Pacific & Latin America521 485 935 985 
Global Brand Divisions(1,168)(1,226)(2,373)(2,413)
Converse115 153 282 362 
Corporate(535)(744)(1,186)(1,318)
Interest expense (income), net(22)16 (56)29 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,922 $1,650 $3,570 $3,478 
NOVEMBER 30,MAY 31,
(Dollars in millions)
20232023
ACCOUNTS RECEIVABLE, NET
North America$1,902 $1,653 
Europe, Middle East & Africa1,369 1,197 
Greater China194 162 
Asia Pacific & Latin America
919 700 
Global Brand Divisions83 96 
Total NIKE Brand4,467 3,808 
Converse228 235 
Corporate87 88 
TOTAL ACCOUNTS RECEIVABLE, NET$4,782 $4,131 
INVENTORIES
North America$3,327 $3,806 
Europe, Middle East & Africa2,013 2,167 
Greater China1,218 973 
Asia Pacific & Latin America
946 894 
Global Brand Divisions204 232 
Total NIKE Brand7,708 8,072 
Converse290 305 
Corporate(19)77 
TOTAL INVENTORIES(1)
$7,979 $8,454 
(1)Inventories as of November 30, 2023 and May 31, 2023, were substantially all finished goods.
NOVEMBER 30,MAY 31,
(Dollars in millions)
20232023
PROPERTY, PLANT AND EQUIPMENT, NET
North America$788 $794 
Europe, Middle East & Africa1,076 1,009 
Greater China275 292 
Asia Pacific & Latin America
298 279 
Global Brand Divisions908 840 
Total NIKE Brand3,345 3,214 
Converse33 38 
Corporate1,775 1,829 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$5,153 $5,081