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REVENUES
 12 Months Ended
May 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES
NOTE 14 — REVENUES
DISAGGREGATION OF REVENUES
The following tables present the Company's Revenues disaggregated by reportable operating segment, major product line and distribution channel:
YEAR ENDED MAY 31, 2025
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINA
ASIA PACIFIC & LATIN AMERICA
GLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$12,684 $7,569 $4,805 $4,452 $— $29,510 $1,457 $— $30,967 
Apparel5,837 3,971 1,616 1,541 — 12,965 80 — 13,045 
Equipment1,051 717 165 258 — 2,191 32 — 2,223 
Other— — — — 48 48 123 (97)74 
TOTAL REVENUES$19,572 $12,257 $6,586 $6,251 $48 $44,714 $1,692 $(97)$46,309 
Revenues by:
Sales to Wholesale Customers$10,484 $8,022 $3,699 $3,678 $— $25,883 $875 $— $26,758 
Sales through Direct to Consumer9,088 4,235 2,887 2,573 — 18,783 694 — 19,477 
Other— — — — 48 48 123 (97)74 
TOTAL REVENUES$19,572 $12,257 $6,586 $6,251 $48 $44,714 $1,692 $(97)$46,309 

YEAR ENDED MAY 31, 2024
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINA
ASIA PACIFIC & LATIN AMERICA
GLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$14,537 $8,473 $5,552 $4,865 $— $33,427 $1,800 $— $35,227 
Apparel5,953 4,380 1,828 1,614 — 13,775 93 — 13,868 
Equipment906 754 165 250 — 2,075 37 — 2,112 
Other— — — — 45 45 152 (42)155 
TOTAL REVENUES$21,396 $13,607 $7,545 $6,729 $45 $49,322 $2,082 $(42)$51,362 
Revenues by:
Sales to Wholesale Customers$11,004 $8,562 $4,262 $3,930 $— $27,758 $1,098 $— $28,856 
Sales through Direct to Consumer10,392 5,045 3,283 2,799 — 21,519 832 — 22,351 
Other— — — — 45 45 152 (42)155 
TOTAL REVENUES$21,396 $13,607 $7,545 $6,729 $45 $49,322 $2,082 $(42)$51,362 
YEAR ENDED MAY 31, 2023
(Dollars in millions)
NORTH AMERICAEUROPE, MIDDLE EAST & AFRICAGREATER CHINA
ASIA PACIFIC & LATIN AMERICA
GLOBAL BRAND DIVISIONSTOTAL NIKE BRANDCONVERSECORPORATETOTAL NIKE, INC.
Revenues by:
Footwear$14,897 $8,260 $5,435 $4,543 $— $33,135 $2,155 $— $35,290 
Apparel5,947 4,566 1,666 1,664 — 13,843 90 — 13,933 
Equipment764 592 147 224 — 1,727 28 — 1,755 
Other— — — — 58 58 154 27 239 
TOTAL REVENUES$21,608 $13,418 $7,248 $6,431 $58 $48,763 $2,427 $27 $51,217 
Revenues by:
Sales to Wholesale Customers$11,273 $8,522 $3,866 $3,736 $— $27,397 $1,299 $— $28,696 
Sales through Direct to Consumer10,335 4,896 3,382 2,695 — 21,308 974 — 22,282 
Other— — — — 58 58 154 27 239 
TOTAL REVENUES$21,608 $13,418 $7,248 $6,431 $58 $48,763 $2,427 $27 $51,217 
Global Brand Divisions revenues included NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment. Converse Other revenues were primarily attributable to licensing businesses. Corporate revenues primarily consisted of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse but managed through the Company's central foreign exchange risk management program.
As of May 31, 2025 and 2024, the Company did not have any contract assets and had an immaterial amount of contract liabilities recorded in Accrued liabilities on the Consolidated Balance Sheets.
SALES-RELATED RESERVES
As of May 31, 2025 and 2024, the Company's sales-related reserve balance, which includes returns, post-invoice sales discounts and claims, was $1,834 million and $1,282 million, respectively, recorded in Accrued liabilities on the Consolidated Balance Sheets. As of May 31, 2025 and 2024, the Company's sales returns reserve balance, included within sales-related reserves, was $1,277 million and $799 million, respectively. The related estimated cost of inventory for expected product returns was $528 million and $331 million as of May 31, 2025 and 2024, respectively, and was recorded in Prepaid expenses and other current assets on the Consolidated Balance Sheets.