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SEGMENT INFORMATION
 3 Months Ended
Aug. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 10 — SEGMENT INFORMATION
The Company's reportable operating segments reflect the structure of the Company's internal organization and the financial information the Chief Operating Decision Maker ("CODM"), the Company's Chief Executive Officer, regularly reviews to assess Company performance and allocate resources. The CODM evaluates the performance of the Company's segments and allocates resources based on earnings before interest and taxes ("EBIT"), which represents Net income before Interest expense (income), net and Income tax expense in the Unaudited Condensed Consolidated Statements of Income.
The Company's segments are defined as follows:
NIKE BRAND
The NIKE Brand reportable operating segments 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. Each NIKE Brand segment represents a geographic region operating predominantly in one industry: the design, development, marketing and selling of athletic footwear, apparel and equipment.
Global Brand Divisions is included within 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 primarily represents costs, including product creation and design expenses, that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology.
CONVERSE
Converse operates in one industry: the design, marketing, licensing and selling of casual sneakers, apparel and accessories.
CORPORATE
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.
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 segments and to Converse. Inventories and Cost of sales for geographic segments and Converse reflect the use of these standard rates to recognize non-functional currency product purchases in the entity's functional currency. Differences between these standard rates and actual market rates are included in Corporate, together with foreign currency hedge gains and losses and other conversion gains and losses.
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
$5,020 $3,331 $1,512 $1,490 $9 $11,362 $366 $(8)$11,720 
Cost of Sales
2,897 1,900 798 838 168 6,601 193 (17)6,777 
Gross profit
2,123 1,431 714 652 (159)4,761 173 9 4,943 
Demand creation expense
442 313 99 97 203 1,154 33 1 1,188 
Operating overhead expense
547 382 238 208 831 2,206 102 520 2,828 
Total selling and administrative expense
989 695 337 305 1,034 3,360 135 521 4,016 
Other segment items(1)
— 1 — (3)(1)(3)(1)27 23 
EARNINGS (LOSS) BEFORE INTEREST AND TAXES
$1,134 $735 $377 $350 $(1,192)$1,404 $39 $(539)
Interest expense (income), net
(18)
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES
$922 
Supplemental information:
  Depreciation and amortization(2)
$38 39 12 16 54 159 2 29 $190 
(1)At NIKE Brand segments and Converse, other segment items consist of unusual or non-operating transactions that occur outside the normal course of business. At Corporate, this also includes foreign currency conversion gains and losses from the remeasurement of monetary assets and liabilities denominated in non-functional currencies and the impact of certain foreign currency derivative instruments.
(2)The amounts of depreciation and amortization disclosed by segment are included within Cost of sales and Operating overhead expense, as applicable.

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
$4,826 $3,143 $1,666 $1,462 $14 $11,111 $501 $(23)$11,589 
Cost of Sales
2,627 1,695 855 782 153 6,112 233 (13)6,332 
Gross profit
2,199 1,448 811 680 (139)4,999 268 (10)5,257 
Demand creation expense
452 290 114 90 242 1,188 35 3 1,226 
Operating overhead expense
529 366 240 188 846 2,169 113 540 2,822 
Total selling and administrative expense
981 656 354 278 1,088 3,357 148 543 4,048 
Other segment items(1)
2 — (45)— — (43)(1)(11)(55)
EARNINGS (LOSS) BEFORE INTEREST AND TAXES
$1,216 $792 $502 $402 $(1,227)$1,685 $121 $(542)
Interest expense (income), net
(43)
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES
$1,307 
Supplemental information:
  Depreciation and amortization(2)
$36 35 13 11 57 152 4 32 $188 
(1)At NIKE Brand segments and Converse, other segment items consist of unusual or non-operating transactions that occur outside the normal course of business. At Corporate, this also includes foreign currency conversion gains and losses from the remeasurement of monetary assets and liabilities denominated in non-functional currencies and the impact of certain foreign currency derivative instruments.
(2)The amounts of depreciation and amortization disclosed by segment are included within Cost of sales and Operating overhead expense, as applicable.
AUGUST 31,MAY 31,
(Dollars in millions)
20252025
INVENTORIES(1)
North America$3,524 $3,198 
Europe, Middle East & Africa2,128 2,042 
Greater China1,097 951 
Asia Pacific & Latin America1,066 905 
Global Brand Divisions
142 148 
TOTAL NIKE BRAND
7,957 7,244 
Converse247 272 
Corporate
(90)(27)
TOTAL NIKE, INC. INVENTORIES
$8,114 $7,489 
(1)Inventories as of August 31, 2025 and May 31, 2025 were substantially all finished goods.