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OPERATING SEGMENTS
 6 Months Ended
Nov. 30, 2024
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)
2024202320242023
REVENUES
North America$5,179 $5,625 $10,005 $11,048 
Europe, Middle East & Africa3,303 3,567 6,446 7,177 
Greater China1,711 1,863 3,377 3,598 
Asia Pacific & Latin America1,744 1,805 3,206 3,377 
Global Brand Divisions13 12 27 25 
Total NIKE Brand11,950 12,872 23,061 25,225 
Converse429 519 930 1,107 
Corporate(25)(3)(48)(5)
TOTAL NIKE, INC. REVENUES$12,354 $13,388 $23,943 $26,327 
EARNINGS BEFORE INTEREST AND TAXES
North America$1,371 $1,526 $2,587 $2,960 
Europe, Middle East & Africa831 927 1,623 1,857 
Greater China375 514 877 1,039 
Asia Pacific & Latin America460 521 862 935 
Global Brand Divisions(1,133)(1,168)(2,360)(2,373)
Converse53 115 174 282 
Corporate(565)(535)(1,107)(1,186)
Interest expense (income), net(24)(22)(67)(56)
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES$1,416 $1,922 $2,723 $3,570 
NOVEMBER 30,MAY 31,
(Dollars in millions)
20242024
ACCOUNTS RECEIVABLE, NET
North America$2,421 $1,723 
Europe, Middle East & Africa1,421 1,239 
Greater China266 327 
Asia Pacific & Latin America871 792 
Global Brand Divisions104 103 
Total NIKE Brand5,083 4,184 
Converse201 201 
Corporate18 42 
TOTAL ACCOUNTS RECEIVABLE, NET$5,302 $4,427 
INVENTORIES
North America$3,414 $3,134 
Europe, Middle East & Africa1,921 2,028 
Greater China1,255 1,070 
Asia Pacific & Latin America907 810 
Global Brand Divisions166 166 
Total NIKE Brand7,663 7,208 
Converse306 296 
Corporate12 15 
TOTAL INVENTORIES(1)
$7,981 $7,519 
(1)Inventories as of November 30, 2024 and May 31, 2024, were substantially all finished goods.
NOVEMBER 30,MAY 31,
(Dollars in millions)
20242024
PROPERTY, PLANT AND EQUIPMENT, NET
North America$694 $744 
Europe, Middle East & Africa1,089 1,089 
Greater China238 258 
Asia Pacific & Latin America
300 282 
Global Brand Divisions807 842 
Total NIKE Brand3,128 3,215 
Converse20 27 
Corporate1,709 1,758 
TOTAL PROPERTY, PLANT AND EQUIPMENT, NET$4,857 $5,000