REVENUES

3 Months Ended

Aug. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUES

NOTE 9 — REVENUES

DISAGGREGATION OF REVENUES

The following tables present the Company's Revenues by reportable operating segment, disaggregated by major product line and distribution channel:

	THREE MONTHS ENDED AUGUST 31, 2025
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	3,219	$	2,021	$	1,109	$	1,061	$	—	$	7,410	$	321	$	—	$	7,731
Apparel	1,474		1,106		362		371		—		3,313		11		—		3,324
Equipment	327		204		41		58		—		630		8		—		638
Other	—		—		—		—		9		9		26		(8)		27
TOTAL REVENUES	$	5,020	$	3,331	$	1,512	$	1,490	$	9	$	11,362	$	366	$	(8)	$	11,720
Revenues by:
Sales to Wholesale Customers	$	2,736	$	2,261	$	893	$	949	$	—	$	6,839	$	195	$	—	$	7,034
Sales through Direct to Consumer	2,284		1,070		619		541		—		4,514		145		—		4,659
Other	—		—		—		—		9		9		26		(8)		27
TOTAL REVENUES	$	5,020	$	3,331	$	1,512	$	1,490	$	9	$	11,362	$	366	$	(8)	$	11,720

	THREE MONTHS ENDED AUGUST 31, 2024
(Dollars in millions)	NORTH AMERICA		EUROPE, MIDDLE EAST & AFRICA		GREATER CHINA		ASIA PACIFIC & LATIN AMERICA		GLOBAL BRAND DIVISIONS		TOTAL NIKE BRAND		CONVERSE		CORPORATE		TOTAL NIKE, INC.
Revenues by:
Footwear	$	3,212	$	1,952	$	1,246	$	1,052	$	—	$	7,462	$	436	$	—	$	7,898
Apparel	1,331		993		360		348		—		3,032		17		—		3,049
Equipment	283		198		60		62		—		603		12		—		615
Other	—		—		—		—		14		14		36		(23)		27
TOTAL REVENUES	$	4,826	$	3,143	$	1,666	$	1,462	$	14	$	11,111	$	501	$	(23)	$	11,589
Revenues by:
Sales to Wholesale Customers	$	2,475	$	2,074	$	971	$	890	$	—	$	6,410	$	275	$	—	$	6,685
Sales through Direct to Consumer	2,351		1,069		695		572		—		4,687		190		—		4,877
Other	—		—		—		—		14		14		36		(23)		27
TOTAL REVENUES	$	4,826	$	3,143	$	1,666	$	1,462	$	14	$	11,111	$	501	$	(23)	$	11,589

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 August 31, 2025 and May 31, 2025, the Company did not have any contract assets and had an immaterial amount of contract liabilities recorded in Accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets.