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OPERATING SEGMENTS
 9 Months Ended
Feb. 29, 2024
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. For the three and nine months ended February 29, 2024, Corporate also includes pre-tax restructuring charges recognized as a result of the Company taking steps to streamline the organization. These pre-tax charges primarily reflect employee severance costs and accelerated stock-based compensation expense. For more information, refer to Note 14 — Restructuring.
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 ENDEDNINE MONTHS ENDED
(Dollars in millions)
FEBRUARY 29, 2024FEBRUARY 28, 2023FEBRUARY 29, 2024FEBRUARY 28, 2023
REVENUES
North America$5,070 $4,913 $16,118 $16,253 
Europe, Middle East & Africa3,138 3,246 10,315 10,068 
Greater China2,084 1,994 5,682 5,438 
Asia Pacific & Latin America1,647 1,601 5,024 4,735 
Global Brand Divisions9 12 34 44 
Total NIKE Brand11,948 11,766 37,173 36,538 
Converse495 612 1,602 1,841 
Corporate(14)12 (19)13 
TOTAL NIKE, INC. REVENUES$12,429 $12,390 $38,756 $38,392 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,400 $1,190 $4,360 $4,064 
Europe, Middle East & Africa734 785 2,591 2,750 
Greater China722 702 1,761 1,754 
Asia Pacific & Latin America471 485 1,406 1,470 
Global Brand Divisions(1,199)(1,160)(3,572)(3,573)
Converse98 164 380 526 
Corporate(874)(696)(2,060)(2,014)
Interest expense (income), net(52)(7)(108)22 
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,404 $1,477 $4,974 $4,955 
FEBRUARY 29,MAY 31,
(Dollars in millions)
20242023
ACCOUNTS RECEIVABLE, NET
North America$1,872 $1,653 
Europe, Middle East & Africa1,336 1,197 
Greater China197 162 
Asia Pacific & Latin America750 700 
Global Brand Divisions96 96 
Total NIKE Brand4,251 3,808 
Converse219 235 
Corporate56 88 
TOTAL ACCOUNTS RECEIVABLE, NET$4,526 $4,131 
INVENTORIES
North America$3,201 $3,806 
Europe, Middle East & Africa2,046 2,167 
Greater China1,121 973 
Asia Pacific & Latin America889 894 
Global Brand Divisions180 232 
Total NIKE Brand7,437 8,072 
Converse289 305 
Corporate— 77 
TOTAL INVENTORIES(1)
$7,726 $8,454 
(1)Inventories as of February 29, 2024 and May 31, 2023, were substantially all finished goods.
FEBRUARY 29,MAY 31,
(Dollars in millions)
20242023
PROPERTY, PLANT AND EQUIPMENT, NET
North America$760 $794 
Europe, Middle East & Africa1,068 1,009 
Greater China264 292 
Asia Pacific & Latin America
292 279 
Global Brand Divisions886 840 
Total NIKE Brand3,270 3,214 
Converse30 38 
Corporate1,782 1,829 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$5,082 $5,081