NIKE (NKE) 10-Q6 Oct 232024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Aug. 31, 2023	Sep. 30, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2023
Document Transition Report	false
Entity File Number	1-10635
Entity Registrant Name	NIKE, Inc.
Entity Incorporation, State or Country Code	OR
Entity Tax Identification Number	93-0584541
Entity Address, Address Line One	One Bowerman Drive
Entity Address, City or Town	Beaverton
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97005-6453
City Area Code	503
Local Phone Number	671-6453
Title of 12(b) Security	Class B Common Stock
Trading Symbol	NKE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000320187
Current Fiscal Year End Date	--05-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock Shares Outstanding		297,897,252
Class B Common Stock
Document Information [Line Items]
Entity Common Stock Shares Outstanding		1,224,012,873

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income Statement [Abstract]
Revenues	$ 12,939	$ 12,687
Cost of sales	7,219	7,072
Gross profit	5,720	5,615
Demand creation expense	1,069	943
Operating overhead expense	3,047	2,977
Total selling and administrative expense	4,116	3,920
Interest expense (income), net	(34)	13
Other (income) expense, net	(10)	(146)
Income before income taxes	1,648	1,828
Income tax expense	198	360
NET INCOME	$ 1,450	$ 1,468
Earnings per common share:
Basic (in dollars per share)	$ 0.95	$ 0.94
Diluted (in dollars per share)	$ 0.94	$ 0.93
Weighted average common shares outstanding:
Basic (in shares)	1,528.4	1,567.1
Diluted (in shares)	1,543.3	1,585.8

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,450	$ 1,468
Other comprehensive income (loss), net of tax:
Change in net foreign currency translation adjustment	36	(226)
Change in net gains (losses) on cash flow hedges	(134)	555
Change in net gains (losses) on other	3	(11)
Total other comprehensive income (loss), net of tax	(95)	318
TOTAL COMPREHENSIVE INCOME	$ 1,355	$ 1,786

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Current assets:
Cash and equivalents	$ 6,178	$ 7,441
Short-term investments	2,612	3,234
Accounts receivable, net	4,749	4,131
Inventories	8,698	8,454
Prepaid expenses and other current assets	2,013	1,942
Total current assets	24,250	25,202
Property, plant and equipment, net	5,109	5,081
Operating lease right-of-use assets, net	2,939	2,923
Identifiable intangible assets, net	272	274
Goodwill	281	281
Deferred income taxes and other assets	3,935	3,770
TOTAL ASSETS	36,786	37,531
Current liabilities:
Current portion of long-term debt	0	0
Notes payable	6	6
Accounts payable	2,738	2,862
Current portion of operating lease liabilities	435	425
Accrued liabilities	4,987	5,723
Income taxes payable	295	240
Total current liabilities	8,461	9,256
Long-term debt	8,929	8,927
Operating lease liabilities	2,807	2,786
Deferred income taxes and other liabilities	2,618	2,558
Commitments and contingencies (Note 11)
Redeemable preferred stock	0	0
Shareholders' equity:
Capital in excess of stated value	12,590	12,412
Accumulated other comprehensive income (loss)	136	231
Retained earnings	1,242	1,358
Total shareholders' equity	13,971	14,004
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	36,786	37,531
Class A Convertible Common Stock
Shareholders' equity:
Common stock at stated value	0	0
Class B Common Stock
Shareholders' equity:
Common stock at stated value	$ 3	$ 3

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Aug. 31, 2023	May 31, 2023
Class A Convertible Common Stock
Common stock, shares outstanding (in shares)	298	305
Class B Common Stock
Common stock, shares outstanding (in shares)	1,226	1,227

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash provided (used) by operations:
Net income	$ 1,450	$ 1,468
Adjustments to reconcile net income to net cash provided (used) by operations:
Depreciation	191	169
Deferred income taxes	(68)	(43)
Stock-based compensation	196	170
Amortization, impairment and other	(5)	(9)
Net foreign currency adjustments	(7)	16
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable	(621)	(415)
(Increase) decrease in inventories	(263)	(1,363)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets	(225)	(128)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities	(714)	492
Cash provided (used) by operations	(66)	357
Cash provided (used) by investing activities:
Purchases of short-term investments	(1,144)	(2,469)
Maturities of short-term investments	778	1,432
Sales of short-term investments	1,038	948
Additions to property, plant and equipment	(253)	(264)
Other investing activities	(1)	139
Cash provided (used) by investing activities	418	(214)
Cash provided (used) by financing activities:
Increase (decrease) in notes payable, net	0	(1)
Proceeds from exercise of stock options and other stock issuances	99	82
Repurchase of common stock	(1,133)	(983)
Dividends — common and preferred	(524)	(480)
Other financing activities	(41)	(22)
Cash provided (used) by financing activities	(1,599)	(1,404)
Effect of exchange rate changes on cash and equivalents	(16)	(87)
Net increase (decrease) in cash and equivalents	(1,263)	(1,348)
Cash and equivalents, beginning of period	7,441	8,574
CASH AND EQUIVALENTS, END OF PERIOD	6,178	7,226
Supplemental disclosure of cash flow information:
Non-cash additions to property, plant and equipment	148	124
Dividends declared and not paid	$ 519	$ 482

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	CAPITAL IN EXCESS OF STATED VALUE	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	RETAINED EARNINGS	Class A Common Stock	Class A Common Stock COMMON STOCK	Class B Common Stock	Class B Common Stock COMMON STOCK
Beginning Balance (in shares) at May. 31, 2022						305		1,266
Beginning balance at May. 31, 2022	$ 15,281	$ 11,484	$ 318	$ 3,476		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								2
Stock options exercised	80	80
Repurchase of Class B Common Stock (in shares)								(9)
Repurchase of Class B Common Stock	(991)	(66)		(925)
Dividends on common stock	(482)			(482)
Issuance of shares to employees, net of shares withheld for employee taxes	(22)	(20)		(2)
Stock-based compensation	170	170
Net income	1,468			1,468
Other comprehensive income (loss)	318		318
Ending Balance (in shares) at Aug. 31, 2022						305		1,259
Ending balance at Aug. 31, 2022	15,822	11,648	636	3,535		$ 0		$ 3
Beginning Balance (in shares) at May. 31, 2023					305	305	1,227	1,227
Beginning balance at May. 31, 2023	14,004	12,412	231	1,358		$ 0		$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)								2
Stock options exercised	106	106
Conversion to Class B Common Stock (in shares)						(7)		7
Repurchase of Class B Common Stock (in shares)								(10)
Repurchase of Class B Common Stock	(1,132)	(85)		(1,047)
Dividends on common stock	(519)			(519)
Issuance of shares to employees, net of shares withheld for employee taxes	(39)	(39)
Stock-based compensation	196	196
Net income	1,450			1,450
Other comprehensive income (loss)	(95)		(95)
Ending Balance (in shares) at Aug. 31, 2023					298	298	1,226	1,226
Ending balance at Aug. 31, 2023	$ 13,971	$ 12,590	$ 136	$ 1,242		$ 0		$ 3

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.340	$ 0.305
Dividends declared per preferred share (in dollars per share)	$ 0.10	$ 0.10

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Aug. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the "Company" or "NIKE") and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results of operations for the interim period. The year-end Condensed Consolidated Balance Sheet data as of May 31, 2023, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial information and notes thereto should be read in conjunction with the Company's latest Annual Report on Form 10-K for the fiscal year ended May 31, 2023 (the "Annual Report"). The results of operations for the three months ended August 31, 2023, are not necessarily indicative of results to be expected for the entire fiscal year. RECENTLY ADOPTED ACCOUNTING STANDARDS In September 2022, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. The new guidance requires qualitative and quantitative disclosure sufficient to enable users of the financial statements to understand the nature, activity during the period, changes from period to period and potential magnitude of such programs. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted the required guidance in the first quarter of fiscal 2024.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	3 Months Ended
ACCRUED LIABILITIES	Aug. 31, 2023
Accrued Liabilities, Current [Abstract]
ACCRUED LIABILITIES	NOTE 2 — ACCRUED LIABILITIES Accrued liabilities included the following: AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Compensation and benefits, excluding taxes $ 1,133 $ 1,737 Sales-related reserves 1,003 994 Dividends payable 526 529 Import and logistics 439 370 Endorsement compensation 303 552 Other 1,583 1,541 TOTAL ACCRUED LIABILITIES $ 4,987 $ 5,723

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Aug. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 3 — FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities and available-for-sale debt securities. For additional information about the Company's fair value policies, refer to Note 1 — Summary of Significant Accounting Policies within the Annual Report. The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2023 and May 31, 2023, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: AUGUST 31, 2023 (Dollars in millions) ASSETS AT FAIR VALUE CASH AND EQUIVALENTS SHORT-TERM INVESTMENTS Cash $ 1,432 $ 1,432 $ — Level 1: U.S. Treasury securities 2,022 4 2,018 Level 2: Commercial paper and bonds 549 13 536 Money market funds 4,154 4,154 — Time deposits 581 575 6 U.S. Agency securities 52 — 52 Total Level 2 5,336 4,742 594 TOTAL $ 8,790 $ 6,178 $ 2,612 MAY 31, 2023 (Dollars in millions) ASSETS AT FAIR VALUE CASH AND EQUIVALENTS SHORT-TERM INVESTMENTS Cash $ 1,767 $ 1,767 $ — Level 1: U.S. Treasury securities 2,655 — 2,655 Level 2: Commercial paper and bonds 543 15 528 Money market funds 5,157 5,157 — Time deposits 507 502 5 U.S. Agency securities 46 — 46 Total Level 2 6,253 5,674 579 TOTAL $ 10,675 $ 7,441 $ 3,234 As of August 31, 2023, the Company held $1,945 million of available-for-sale debt securities with maturity dates within one year and $667 million with maturity dates greater than one year and less than five years in Short-term investments on the Unaudited Condensed Consolidated Balance Sheets. The fair value of the Company's available-for-sale debt securities approximates their amortized cost. Included in Interest expense (income), net was interest income related to the Company's investment portfolio of $99 million and $65 million for the three months ended August 31, 2023 and 2022, respectively. The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: AUGUST 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 491 $ 420 $ 71 $ 235 $ 177 $ 58 (1) If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $233 million as of August 31, 2023. As of that date, the Company received $7 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of August 31, 2023. MAY 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 557 $ 493 $ 64 $ 180 $ 128 $ 52 (1) If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $178 million as of May 31, 2023. As of that date, the Company received $36 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of May 31, 2023. For additional information related to the Company's derivative financial instruments and credit risk, refer to Note 7 — Risk Management and Derivatives. The carrying amounts of other current financial assets and other current financial liabilities approximate fair value. FINANCIAL ASSETS AND LIABILITIES NOT RECORDED AT FAIR VALUE The Company's Long-term debt is recorded at adjusted cost, net of unamortized premiums, discounts and debt issuance costs. The fair value of long-term debt is estimated based upon quoted prices for similar instruments or quoted prices for identical instruments in inactive markets (Level 2). The fair value of the Company's Long-term debt, including the current portion, was approximately $7,768 million at August 31, 2023 and $7,889 million at May 31, 2023. The carrying amounts reflected on the Unaudited Condensed Consolidated Balance Sheets for Notes payable approximate fair value.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Aug. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4 — INCOME TAXES The effective tax rate was 12.0% and 19.7% for the three months ended August 31, 2023 and 2022, respectively. The decrease in the Company's effective tax rate was primarily due to the impact of temporary relief provided by the Internal Revenue Service ("IRS") relating to U.S. foreign tax credit regulations. On July 21, 2023, the IRS issued Notice 2023-55 which specifically delayed the application of certain U.S. foreign tax credit regulations that had previously limited the Company's ability to claim credits on certain foreign taxes for the fiscal year ended May 31, 2023. As a result of this new guidance, the Company recognized a one-time tax benefit related to prior year tax positions in the first three months of fiscal 2024. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 that included, among other provisions, changes to the U.S. corporate income tax system, including a fifteen percent minimum tax based on "adjusted financial statement income," which was effective for the Company beginning June 1, 2023. Based on the Company's current analysis of the provisions, these tax law changes are not expected to have a material impact on the Company's financial statements for fiscal 2024. As of August 31, 2023, total gross unrecognized tax benefits, excluding related interest and penalties, were $931 million, $644 million of which would affect the Company's effective tax rate if recognized in future periods. The majority of the total gross unrecognized tax benefits are long-term in nature and included within Deferred income taxes and other liabilities on the Unaudited Condensed Consolidated Balance Sheets. As of May 31, 2023, total gross unrecognized tax benefits, excluding related interest and penalties, were $936 million. As of August 31, 2023 and May 31, 2023, accrued interest and penalties related to uncertain tax positions were $274 million and $268 million, respectively, (excluding federal benefit) and included within Deferred income taxes and other liabilities on the Unaudited Condensed Consolidated Balance Sheets. The Company is subject to taxation in the U.S., as well as various state and foreign jurisdictions. The Company is currently under audit by the U.S. IRS for fiscal years 2017 through 2019. The Company has closed all U.S. federal income tax matters through fiscal 2016, with the exception of certain transfer pricing adjustments. Tax years after 2011 remain open in certain major foreign jurisdictions. Although the timing of resolution of audits is not certain, the Company evaluates all domestic and foreign audit issues in the aggregate, along with the expiration of applicable statutes of limitations, and estimates that it is reasonably possible the total gross unrecognized tax benefits could decrease by up to $20 million within the next 12 months. In January 2019, the European Commission opened a formal investigation to examine whether the Netherlands has breached State Aid rules when granting certain tax rulings to the Company. The Company believes the investigation is without merit. If this matter is adversely resolved, the Netherlands may be required to assess additional amounts with respect to prior periods, and the Company's income taxes related to prior periods in the Netherlands could increase.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Aug. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	NOTE 5 — STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION The NIKE, Inc. Stock Incentive Plan (the "Stock Incentive Plan") provides for the issuance of up to 798 million previously unissued shares of Class B Common Stock in connection with equity awards granted under the Stock Incentive Plan. The Stock Incentive Plan authorizes the grant of non-statutory stock options, incentive stock options, stock appreciation rights and stock awards, including restricted stock and restricted stock units. Restricted stock units include both time-vesting restricted stock units ("RSUs") as well as performance-based restricted stock units ("PSUs"). In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount from the market price under employee stock purchase plans ("ESPPs"). For additional information, refer to Note 9 — Common Stock and Stock-Based Compensation within the Annual Report. The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable: THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Stock options (1) $ 76 $ 75 ESPPs 21 15 Restricted stock and restricted stock units (1)(2) 99 80 TOTAL STOCK-BASED COMPENSATION EXPENSE $ 196 $ 170 (1) Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is primarily recorded for employees meeting certain retirement eligibility requirements. (2) Restricted stock units include RSUs and PSUs. The income tax benefit related to stock-based compensation expense was $17 million and $20 million for the three months ended August 31, 2023 and 2022, respectively, and reported within Income tax expense. STOCK OPTIONS The weighted average fair value per share of stock options granted during the three months ended August 31, 2023 and 2022, computed as of the grant date using the Black-Scholes pricing model, was $34.79 and $32.13, respectively. The weighted average assumptions used to estimate these fair values were as follows: THREE MONTHS ENDED AUGUST 31, 2023 2022 Dividend yield 1.1 % 0.8 % Expected volatility 29.2 % 27.0 % Weighted average expected life (in years) 5.8 5.8 Risk-free interest rate 4.2 % 2.7 % Expected volatilities are based on an analysis of the historical volatility of the Company's common stock, the implied volatility in market-traded options on the Company's common stock with a term greater than one year, as well as other factors. The weighted average expected life of stock options is based on an analysis of historical and expected future exercise patterns. The interest rate is based on the U.S. Treasury (constant maturity) risk-free rate in effect at the date of grant for periods corresponding with the expected term of the stock options. As of August 31, 2023, the Company had $387 million of unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.4 years. RESTRICTED STOCK AND RESTRICTED STOCK UNITS The weighted average fair value per share of restricted stock and restricted stock units granted for the three months ended August 31, 2023 and 2022, computed as of the grant date, was $106.85 and $127.16, respectively. As of August 31, 2023, the Company had $676 million of unrecognized compensation costs from restricted stock and restricted stock units, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.3 years.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Aug. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 6 — EARNINGS PER SHARE The following is a reconciliation from basic earnings per common share to diluted earnings per common share. The computations of diluted earnings per common share exclude restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an estimated additional 33.7 million and 23.8 million shares of common stock outstanding for the three months ended August 31, 2023 and 2022, respectively, because the awards were assumed to be anti-dilutive. THREE MONTHS ENDED AUGUST 31, (In millions, except per share data) 2023 2022 Net income available to common stockholders $ 1,450 $ 1,468 Determination of shares: Weighted average common shares outstanding 1,528.4 1,567.1 Assumed conversion of dilutive stock options and awards 14.9 18.7 DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 1,543.3 1,585.8 Earnings per common share: Basic $ 0.95 $ 0.94 Diluted $ 0.94 $ 0.93

RISK MANAGEMENT AND DERIVATIVES

RISK MANAGEMENT AND DERIVATIVES	3 Months Ended
RISK MANAGEMENT AND DERIVATIVES	Aug. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND DERIVATIVES	NOTE 7 — RISK MANAGEMENT AND DERIVATIVES The Company is exposed to global market risks, including the effect of changes in foreign currency exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. As of and for the three months ended August 31, 2023, there have been no material changes to the Company's hedging program or strategy from what was disclosed within the Annual Report. For additional information about the Company's derivatives and hedging policies, refer to Note 1 — Summary of Significant Accounting Policies and Note 12 — Risk Management and Derivatives within the Annual Report. The majority of derivatives outstanding as of August 31, 2023, are designated as foreign currency cash flow hedges, primarily for Euro/U.S. Dollar, British Pound/Euro, Chinese Yuan/U.S. Dollar and Japanese Yen/U.S. Dollar currency pairs. All derivatives are recognized on the Unaudited Condensed Consolidated Balance Sheets at fair value and classified based on the instrument's maturity date. The following tables present the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets: DERIVATIVE ASSETS BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 406 $ 480 Foreign exchange forwards and options Deferred income taxes and other assets 71 64 Total derivatives formally designated as hedging instruments 477 544 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 14 13 Total derivatives not designated as hedging instruments 14 13 TOTAL DERIVATIVE ASSETS $ 491 $ 557 DERIVATIVE LIABILITIES BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities $ 142 $ 93 Foreign exchange forwards and options Deferred income taxes and other liabilities 58 52 Total derivatives formally designated as hedging instruments 200 145 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities 35 35 Total derivatives not designated as hedging instruments 35 35 TOTAL DERIVATIVE LIABILITIES $ 235 $ 180 The following tables present the amounts in the Unaudited Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items: THREE MONTHS ENDED AUGUST 31, 2023 2022 (Dollars in millions) TOTAL AMOUNT OF GAIN (LOSS) TOTAL AMOUNT OF GAIN (LOSS) Revenues $ 12,939 $ 1 $ 12,687 $ (9) Cost of sales 7,219 86 7,072 109 Demand creation expense 1,069 — 943 (1) Other (income) expense, net (10) 35 (146) 82 Interest expense (income), net (34) (2) 13 (2) The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income: (Dollars in millions) AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER (1) AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME (1) THREE MONTHS ENDED AUGUST 31, LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, 2023 2022 2023 2022 Derivatives designated as cash flow hedges: Foreign exchange forwards and options $ (18) $ 25 Revenues $ 1 $ (9) Foreign exchange forwards and options (2) 487 Cost of sales 86 109 Foreign exchange forwards and options — (5) Demand creation expense — (1) Foreign exchange forwards and options (10) 293 Other (income) expense, net 35 82 Interest rate swaps (2) — — Interest expense (income), net (2) (2) TOTAL DESIGNATED CASH FLOW HEDGES $ (30) $ 800 $ 120 $ 179 (1) For the three months ended August 31, 2023 and 2022, the amounts recorded in Other (income) expense, net as a result of the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial. (2) Gains and losses associated with terminated interest rate swaps, which were previously designated as cash flow hedges and recorded in Accumulated other comprehensive income (loss), will be released through Interest expense (income), net over the term of the issued debt. AMOUNT OF GAIN (LOSS) RECOGNIZED LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Derivatives not designated as hedging instruments: Foreign exchange forwards and options and embedded derivatives $ (27) $ 61 Other (income) expense, net CASH FLOW HEDGES All changes in fair value of derivatives designated as cash flow hedge instruments are recorded in Accumulated other comprehensive income (loss) until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified in the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. When it is no longer probable the forecasted hedged transaction will occur in the initially identified time period, hedge accounting is discontinued and the Company accounts for the associated derivative as an undesignated instrument as discussed below. Additionally, the gains and losses associated with derivatives no longer designated as cash flow hedge instruments in Accumulated other comprehensive income (loss) are recognized immediately in Other (income) expense, net, if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional two-month period thereafter. In rare circumstances, the additional period of time may exceed two months due to extenuating circumstances related to the nature of the forecasted transaction that are outside the control or influence of the Company. The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was approximately $18.3 billion as of August 31, 2023. Approximately $313 million of deferred net gains (net of tax) on both outstanding and matured derivatives in Accumulated other comprehensive income (loss) as of August 31, 2023, are expected to be reclassified to Net income during the next 12 months concurrent with the underlying hedged transactions also being recorded in Net income. Actual amounts ultimately reclassified to Net income are dependent on the exchange rates in effect when derivative contracts currently outstanding mature. As of August 31, 2023, the maximum term over which the Company hedges exposures to the variability of cash flows for its forecasted transactions was 27 months. UNDESIGNATED DERIVATIVE INSTRUMENTS The Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Unaudited Condensed Consolidated Balance Sheets. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, together with the remeasurement gain or loss from the hedged balance sheet position. The total notional amount of outstanding undesignated derivative instruments was $3.7 billion as of August 31, 2023. CREDIT RISK The Company's bilateral credit-related contingent features generally require the owing entity, either the Company or the derivative counterparty, to post collateral for the portion of the fair value in excess of $50 million should the fair value of outstanding derivatives per counterparty be greater than $50 million. Additionally, a certain level of decline in credit rating of either the Company or the counterparty could trigger collateral requirements. As of August 31, 2023, the Company was in compliance with all credit risk-related contingent features, and derivative instruments with such features were in a net asset position of approximately $256 million. Accordingly, the Company was not required to post cash collateral as a result of these contingent features. Further, $7 million of collateral was received on the Company's derivative asset balance as of August 31, 2023. The Company considers the impact of the risk of counterparty default to be immaterial.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Aug. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 8 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in Accumulated other comprehensive income (loss), net of tax, were as follows: (Dollars in millions) FOREIGN CURRENCY TRANSLATION ADJUSTMENT (1) CASH FLOW HEDGES NET INVESTMENT HEDGES (1) OTHER TOTAL Balance at May 31, 2023 $ (253) $ 431 $ 115 $ (62) $ 231 Other comprehensive income (loss): Other comprehensive gains (losses) before reclassifications (2) 36 (23) — — 13 Reclassifications to net income of previously deferred (gains) losses (3) — (111) — 3 (108) Total other comprehensive income (loss) 36 (134) — 3 (95) Balance at August 31, 2023 $ (217) $ 297 $ 115 $ (59) $ 136 (1) The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2) Net of tax benefit (expense) of $0 million, $7 million, $0 million, $0 million and $7 million, respectively. (3) Net of tax (benefit) expense of $0 million, $9 million, $0 million, $(1) million and $8 million, respectively. (Dollars in millions) FOREIGN CURRENCY TRANSLATION ADJUSTMENT (1) CASH FLOW HEDGES NET INVESTMENT HEDGES (1) OTHER TOTAL Balance at May 31, 2022 $ (520) $ 779 $ 115 $ (56) $ 318 Other comprehensive income (loss): Other comprehensive gains (losses) before reclassifications (2) (272) 716 — (3) 441 Reclassifications to net income of previously deferred (gains) losses (3) 46 (161) — (8) (123) Total other comprehensive income (loss) (226) 555 — (11) 318 Balance at August 31, 2022 $ (746) $ 1,334 $ 115 $ (67) $ 636 (1) The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2) Net of tax benefit (expense) of $0 million, $(84) million, $0 million, $1 million and $(83) million, respectively. (3) Net of tax (benefit) expense of $0 million, $18 million, $0 million, $3 million and $21 million, respectively. The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income: AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Gains (losses) on foreign currency translation adjustment $ — $ (46) Other (income) expense, net Total before tax — (46) Tax (expense) benefit — — Gain (loss) net of tax — (46) Gains (losses) on cash flow hedges: Foreign exchange forwards and options 1 (9) Revenues Foreign exchange forwards and options 86 109 Cost of sales Foreign exchange forwards and options — (1) Demand creation expense Foreign exchange forwards and options 35 82 Other (income) expense, net Interest rate swaps (2) (2) Interest expense (income), net Total before tax 120 179 Tax (expense) benefit (9) (18) Gain (loss) net of tax 111 161 Gains (losses) on other (4) 11 Other (income) expense, net Total before tax (4) 11 Tax (expense) benefit 1 (3) Gain (loss) net of tax (3) 8 Total net gain (loss) reclassified for the period $ 108 $ 123

REVENUES

REVENUES	3 Months Ended
REVENUES	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	NOTE 9 — REVENUES DISAGGREGATION OF REVENUES The following tables present the Company's Revenues disaggregated by reportable operating segment, major product line and distribution channel: THREE MONTHS ENDED AUGUST 31, 2023 (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 $ 3,733 $ 2,260 $ 1,287 $ 1,141 $ — $ 8,421 $ 522 $ — $ 8,943 Apparel 1,479 1,137 401 371 — 3,388 20 — 3,408 Equipment 211 213 47 60 — 531 11 — 542 Other — — — — 13 13 35 (2) 46 TOTAL REVENUES $ 5,423 $ 3,610 $ 1,735 $ 1,572 $ 13 $ 12,353 $ 588 $ (2) $ 12,939 Revenues by: Sales to Wholesale Customers $ 2,772 $ 2,379 $ 895 $ 937 $ — $ 6,983 $ 329 $ — $ 7,312 Sales through Direct to Consumer 2,651 1,231 840 635 — 5,357 224 — 5,581 Other — — — — 13 13 35 (2) 46 TOTAL REVENUES $ 5,423 $ 3,610 $ 1,735 $ 1,572 $ 13 $ 12,353 $ 588 $ (2) $ 12,939 THREE MONTHS ENDED AUGUST 31, 2022 (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 $ 3,805 $ 2,012 $ 1,233 $ 1,064 $ — $ 8,114 $ 577 $ — $ 8,691 Apparel 1,494 1,153 374 413 — 3,434 20 — 3,454 Equipment 211 168 49 58 — 486 8 — 494 Other — — — — 14 14 38 (4) 48 TOTAL REVENUES $ 5,510 $ 3,333 $ 1,656 $ 1,535 $ 14 $ 12,048 $ 643 $ (4) $ 12,687 Revenues by: Sales to Wholesale Customers $ 3,027 $ 2,203 $ 839 $ 914 $ — $ 6,983 $ 344 $ — $ 7,327 Sales through Direct to Consumer 2,483 1,130 817 621 — 5,051 261 — 5,312 Other — — — — 14 14 38 (4) 48 TOTAL REVENUES $ 5,510 $ 3,333 $ 1,656 $ 1,535 $ 14 $ 12,048 $ 643 $ (4) $ 12,687 For the three months ended August 31, 2023 and 2022, Global Brand Divisions revenues include 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, 2023 and May 31, 2023, 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.

OPERATING SEGMENTS

OPERATING SEGMENTS	3 Months Ended
OPERATING SEGMENTS	Aug. 31, 2023
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 tax expense 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 AUGUST 31, (Dollars in millions) 2023 2022 REVENUES North America $ 5,423 $ 5,510 Europe, Middle East & Africa 3,610 3,333 Greater China 1,735 1,656 Asia Pacific & Latin America 1,572 1,535 Global Brand Divisions 13 14 Total NIKE Brand 12,353 12,048 Converse 588 643 Corporate (2) (4) TOTAL NIKE, INC. REVENUES $ 12,939 $ 12,687 EARNINGS BEFORE INTEREST AND TAXES North America $ 1,434 $ 1,377 Europe, Middle East & Africa 930 975 Greater China 525 541 Asia Pacific & Latin America 414 500 Global Brand Divisions (1,205) (1,187) Converse 167 209 Corporate (651) (574) Interest expense (income), net (34) 13 TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES $ 1,648 $ 1,828 AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 ACCOUNTS RECEIVABLE, NET North America $ 1,932 $ 1,653 Europe, Middle East & Africa 1,562 1,197 Greater China 161 162 Asia Pacific & Latin America 687 700 Global Brand Divisions 84 96 Total NIKE Brand 4,426 3,808 Converse 240 235 Corporate 83 88 TOTAL ACCOUNTS RECEIVABLE, NET $ 4,749 $ 4,131 INVENTORIES North America $ 3,761 $ 3,806 Europe, Middle East & Africa 2,220 2,167 Greater China 1,182 973 Asia Pacific & Latin America 1,072 894 Global Brand Divisions 222 232 Total NIKE Brand 8,457 8,072 Converse 300 305 Corporate (59) 77 TOTAL INVENTORIES (1) $ 8,698 $ 8,454 (1) Inventories as of August 31, 2023 and May 31, 2023, were substantially all finished goods. AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 PROPERTY, PLANT AND EQUIPMENT, NET North America $ 792 $ 794 Europe, Middle East & Africa 1,043 1,009 Greater China 276 292 Asia Pacific & Latin America 275 279 Global Brand Divisions 889 840 Total NIKE Brand 3,275 3,214 Converse 36 38 Corporate 1,798 1,829 TOTAL PROPERTY, PLANT AND EQUIPMENT, NET $ 5,109 $ 5,081

CONTINGENCIES

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Aug. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 11 — CONTINGENCIES In the ordinary course of business, the Company is subject to various legal proceedings, claims and government investigations relating to its business, products and actions of its employees and representatives, including contractual and employment relationships, product liability, antitrust, customs, tax, intellectual property and other matters. The outcome of these legal matters is inherently uncertain, and the Company cannot predict the eventual outcome of currently pending matters, the timing of their ultimate resolution or the eventual losses, fines, penalties or consequences relating to those matters. When a loss related to a legal proceeding or claim is probable and reasonably estimable, the Company accrues its best estimate for the ultimate resolution of the matter. If one or more legal matters were to be resolved against the Company in a reporting period for amounts above management's expectations, the Company's financial position, operating results and cash flows for that reporting period could be materially adversely affected. In the opinion of management, based on its current knowledge and after consultation with counsel, the Company does not believe any currently pending legal matters will have a material adverse impact on the Company's results of operations, financial position or cash flows, except as described below. BELGIAN CUSTOMS CLAIM The Company has received claims for certain years from Belgian Customs and other government authorities for alleged underpaid duties related to products imported beginning in fiscal 2018. The Company disputes these claims and has engaged in the appellate process. The Company has issued bank guarantees in order to appeal the claims. At this time, the Company is unable to estimate the range of loss and cannot predict the final outcome as it could take several years to reach a resolution on this matter. If this matter is ultimately resolved against the Company, the amounts owed, including fines, penalties and other consequences relating to the matter, could have a material adverse effect on the Company's results of operations, financial position and cash flows.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022
Pay vs Performance Disclosure
Net income	$ 1,450	$ 1,468

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 31, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Robert Swan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On July 3, 2023, Robert Swan, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement for the purchase of shares of our Class B Common Stock, subject to certain conditions, at an aggregate purchase price of up to $1,500,000.The arrangement's expiration date is July 3, 2024.
Name	Robert Swan
Title	member of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 3, 2023
Arrangement Duration	366 days
Monique Matheson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 1, 2023, Monique Matheson, Executive Vice President, Chief Human Resources Officer, adopted a Rule 10b5-1 trading arrangement for the sale of up to 30,000 shares of our Class B Common Stock, subject to certain conditions. The arrangement's expiration date is August 1, 2024.
Name	Monique Matheson
Title	Executive Vice President, Chief Human Resources Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 1, 2023
Arrangement Duration	366 days
Aggregate Available	30,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Aug. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONThe Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the "Company" or "NIKE") and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results of operations for the interim period. The year-end Condensed Consolidated Balance Sheet data as of May 31, 2023, was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial information and notes thereto should be read in conjunction with the Company's latest Annual Report on Form 10-K for the fiscal year ended May 31, 2023 (the "Annual Report"). The results of operations for the three months ended August 31, 2023, are not necessarily indicative of results to be expected for the entire fiscal year.
RECENTLY ADOPTED ACCOUNTING STANDARDS	RECENTLY ADOPTED ACCOUNTING STANDARDS In September 2022, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. The new guidance requires qualitative and quantitative disclosure sufficient to enable users of the financial statements to understand the nature, activity during the period, changes from period to period and potential magnitude of such programs. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal periods, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted the required guidance in the first quarter of fiscal 2024.
FAIR VALUE MEASUREMENTS	The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities and available-for-sale debt securities.
CASH FLOW HEDGES	CASH FLOW HEDGESAll changes in fair value of derivatives designated as cash flow hedge instruments are recorded in Accumulated other comprehensive income (loss) until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified in the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. When it is no longer probable the forecasted hedged transaction will occur in the initially identified time period, hedge accounting is discontinued and the Company accounts for the associated derivative as an undesignated instrument as discussed below. Additionally, the gains and losses associated with derivatives no longer designated as cash flow hedge instruments in Accumulated other comprehensive income (loss) are recognized immediately in Other (income) expense, net, if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional two-month period thereafter. In rare circumstances, the additional period of time may exceed two months due to extenuating circumstances related to the nature of the forecasted transaction that are outside the control or influence of the Company.
UNDESIGNATED DERIVATIVE INSTRUMENTS	UNDESIGNATED DERIVATIVE INSTRUMENTSThe Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Unaudited Condensed Consolidated Balance Sheets. These undesignated instruments are recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in Other (income) expense, net, together with the remeasurement gain or loss from the hedged balance sheet position.

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	3 Months Ended
ACCRUED LIABILITIES (Tables)	Aug. 31, 2023
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities included the following: AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Compensation and benefits, excluding taxes $ 1,133 $ 1,737 Sales-related reserves 1,003 994 Dividends payable 526 529 Import and logistics 439 370 Endorsement compensation 303 552 Other 1,583 1,541 TOTAL ACCRUED LIABILITIES $ 4,987 $ 5,723

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Aug. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August 31, 2023 and May 31, 2023, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: AUGUST 31, 2023 (Dollars in millions) ASSETS AT FAIR VALUE CASH AND EQUIVALENTS SHORT-TERM INVESTMENTS Cash $ 1,432 $ 1,432 $ — Level 1: U.S. Treasury securities 2,022 4 2,018 Level 2: Commercial paper and bonds 549 13 536 Money market funds 4,154 4,154 — Time deposits 581 575 6 U.S. Agency securities 52 — 52 Total Level 2 5,336 4,742 594 TOTAL $ 8,790 $ 6,178 $ 2,612 MAY 31, 2023 (Dollars in millions) ASSETS AT FAIR VALUE CASH AND EQUIVALENTS SHORT-TERM INVESTMENTS Cash $ 1,767 $ 1,767 $ — Level 1: U.S. Treasury securities 2,655 — 2,655 Level 2: Commercial paper and bonds 543 15 528 Money market funds 5,157 5,157 — Time deposits 507 502 5 U.S. Agency securities 46 — 46 Total Level 2 6,253 5,674 579 TOTAL $ 10,675 $ 7,441 $ 3,234
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: AUGUST 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 491 $ 420 $ 71 $ 235 $ 177 $ 58 (1) If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $233 million as of August 31, 2023. As of that date, the Company received $7 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of August 31, 2023. MAY 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 557 $ 493 $ 64 $ 180 $ 128 $ 52 (1) If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $178 million as of May 31, 2023. As of that date, the Company received $36 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of May 31, 2023. DERIVATIVE ASSETS BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 406 $ 480 Foreign exchange forwards and options Deferred income taxes and other assets 71 64 Total derivatives formally designated as hedging instruments 477 544 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 14 13 Total derivatives not designated as hedging instruments 14 13 TOTAL DERIVATIVE ASSETS $ 491 $ 557 DERIVATIVE LIABILITIES BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities $ 142 $ 93 Foreign exchange forwards and options Deferred income taxes and other liabilities 58 52 Total derivatives formally designated as hedging instruments 200 145 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities 35 35 Total derivatives not designated as hedging instruments 35 35 TOTAL DERIVATIVE LIABILITIES $ 235 $ 180

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
STOCK-BASED COMPENSATION (Tables)	Aug. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable: THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Stock options (1) $ 76 $ 75 ESPPs 21 15 Restricted stock and restricted stock units (1)(2) 99 80 TOTAL STOCK-BASED COMPENSATION EXPENSE $ 196 $ 170 (1) Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is primarily recorded for employees meeting certain retirement eligibility requirements. (2) Restricted stock units include RSUs and PSUs.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The weighted average assumptions used to estimate these fair values were as follows: THREE MONTHS ENDED AUGUST 31, 2023 2022 Dividend yield 1.1 % 0.8 % Expected volatility 29.2 % 27.0 % Weighted average expected life (in years) 5.8 5.8 Risk-free interest rate 4.2 % 2.7 %

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Aug. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation from basic earnings per common share to diluted earnings per common share. The computations of diluted earnings per common share exclude restricted stock, restricted stock units and options, including shares under ESPPs, to purchase an estimated additional 33.7 million and 23.8 million shares of common stock outstanding for the three months ended August 31, 2023 and 2022, respectively, because the awards were assumed to be anti-dilutive. THREE MONTHS ENDED AUGUST 31, (In millions, except per share data) 2023 2022 Net income available to common stockholders $ 1,450 $ 1,468 Determination of shares: Weighted average common shares outstanding 1,528.4 1,567.1 Assumed conversion of dilutive stock options and awards 14.9 18.7 DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 1,543.3 1,585.8 Earnings per common share: Basic $ 0.95 $ 0.94 Diluted $ 0.94 $ 0.93

RISK MANAGEMENT AND DERIVATIV_2

RISK MANAGEMENT AND DERIVATIVES (Tables)	3 Months Ended
RISK MANAGEMENT AND DERIVATIVES (Tables)	Aug. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: AUGUST 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 491 $ 420 $ 71 $ 235 $ 177 $ 58 (1) If the foreign exchange derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $233 million as of August 31, 2023. As of that date, the Company received $7 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of August 31, 2023. MAY 31, 2023 DERIVATIVE ASSETS DERIVATIVE LIABILITIES (Dollars in millions) ASSETS AT FAIR VALUE OTHER CURRENT ASSETS OTHER LONG-TERM ASSETS LIABILITIES AT FAIR VALUE ACCRUED LIABILITIES OTHER LONG-TERM LIABILITIES Level 2: Foreign exchange forwards and options (1) $ 557 $ 493 $ 64 $ 180 $ 128 $ 52 (1) If the foreign exchange derivative instruments had been netted on the Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $178 million as of May 31, 2023. As of that date, the Company received $36 million of cash collateral from counterparties related to foreign exchange derivative instruments. No amount of collateral was posted on the derivative liability balance as of May 31, 2023. DERIVATIVE ASSETS BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 406 $ 480 Foreign exchange forwards and options Deferred income taxes and other assets 71 64 Total derivatives formally designated as hedging instruments 477 544 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 14 13 Total derivatives not designated as hedging instruments 14 13 TOTAL DERIVATIVE ASSETS $ 491 $ 557 DERIVATIVE LIABILITIES BALANCE SHEET LOCATION AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities $ 142 $ 93 Foreign exchange forwards and options Deferred income taxes and other liabilities 58 52 Total derivatives formally designated as hedging instruments 200 145 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Accrued liabilities 35 35 Total derivatives not designated as hedging instruments 35 35 TOTAL DERIVATIVE LIABILITIES $ 235 $ 180
Schedule of Derivative Instruments, Gain (Loss) and Activity of Cash Flow Hedges In Statement of Income	The following tables present the amounts in the Unaudited Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items: THREE MONTHS ENDED AUGUST 31, 2023 2022 (Dollars in millions) TOTAL AMOUNT OF GAIN (LOSS) TOTAL AMOUNT OF GAIN (LOSS) Revenues $ 12,939 $ 1 $ 12,687 $ (9) Cost of sales 7,219 86 7,072 109 Demand creation expense 1,069 — 943 (1) Other (income) expense, net (10) 35 (146) 82 Interest expense (income), net (34) (2) 13 (2)
Schedule of Derivative Instruments, Gain (Loss) In Statement of Income	The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income: (Dollars in millions) AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER (1) AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME (1) THREE MONTHS ENDED AUGUST 31, LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, 2023 2022 2023 2022 Derivatives designated as cash flow hedges: Foreign exchange forwards and options $ (18) $ 25 Revenues $ 1 $ (9) Foreign exchange forwards and options (2) 487 Cost of sales 86 109 Foreign exchange forwards and options — (5) Demand creation expense — (1) Foreign exchange forwards and options (10) 293 Other (income) expense, net 35 82 Interest rate swaps (2) — — Interest expense (income), net (2) (2) TOTAL DESIGNATED CASH FLOW HEDGES $ (30) $ 800 $ 120 $ 179 (1) For the three months ended August 31, 2023 and 2022, the amounts recorded in Other (income) expense, net as a result of the discontinuance of cash flow hedges because the forecasted transactions were no longer probable of occurring were immaterial. (2) Gains and losses associated with terminated interest rate swaps, which were previously designated as cash flow hedges and recorded in Accumulated other comprehensive income (loss), will be released through Interest expense (income), net over the term of the issued debt. AMOUNT OF GAIN (LOSS) RECOGNIZED LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Derivatives not designated as hedging instruments: Foreign exchange forwards and options and embedded derivatives $ (27) $ 61 Other (income) expense, net

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Aug. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income	The changes in Accumulated other comprehensive income (loss), net of tax, were as follows: (Dollars in millions) FOREIGN CURRENCY TRANSLATION ADJUSTMENT (1) CASH FLOW HEDGES NET INVESTMENT HEDGES (1) OTHER TOTAL Balance at May 31, 2023 $ (253) $ 431 $ 115 $ (62) $ 231 Other comprehensive income (loss): Other comprehensive gains (losses) before reclassifications (2) 36 (23) — — 13 Reclassifications to net income of previously deferred (gains) losses (3) — (111) — 3 (108) Total other comprehensive income (loss) 36 (134) — 3 (95) Balance at August 31, 2023 $ (217) $ 297 $ 115 $ (59) $ 136 (1) The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2) Net of tax benefit (expense) of $0 million, $7 million, $0 million, $0 million and $7 million, respectively. (3) Net of tax (benefit) expense of $0 million, $9 million, $0 million, $(1) million and $8 million, respectively. (Dollars in millions) FOREIGN CURRENCY TRANSLATION ADJUSTMENT (1) CASH FLOW HEDGES NET INVESTMENT HEDGES (1) OTHER TOTAL Balance at May 31, 2022 $ (520) $ 779 $ 115 $ (56) $ 318 Other comprehensive income (loss): Other comprehensive gains (losses) before reclassifications (2) (272) 716 — (3) 441 Reclassifications to net income of previously deferred (gains) losses (3) 46 (161) — (8) (123) Total other comprehensive income (loss) (226) 555 — (11) 318 Balance at August 31, 2022 $ (746) $ 1,334 $ 115 $ (67) $ 636 (1) The accumulated foreign currency translation adjustment and net investment hedge gains/losses related to an investment in a foreign subsidiary are reclassified to Net income upon sale or upon complete or substantially complete liquidation of the respective entity. (2) Net of tax benefit (expense) of $0 million, $(84) million, $0 million, $1 million and $(83) million, respectively. (3) Net of tax (benefit) expense of $0 million, $18 million, $0 million, $3 million and $21 million, respectively.
Reclassification Out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications from Accumulated other comprehensive income (loss) to the Unaudited Condensed Consolidated Statements of Income: AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME LOCATION OF GAIN (LOSS) THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 Gains (losses) on foreign currency translation adjustment $ — $ (46) Other (income) expense, net Total before tax — (46) Tax (expense) benefit — — Gain (loss) net of tax — (46) Gains (losses) on cash flow hedges: Foreign exchange forwards and options 1 (9) Revenues Foreign exchange forwards and options 86 109 Cost of sales Foreign exchange forwards and options — (1) Demand creation expense Foreign exchange forwards and options 35 82 Other (income) expense, net Interest rate swaps (2) (2) Interest expense (income), net Total before tax 120 179 Tax (expense) benefit (9) (18) Gain (loss) net of tax 111 161 Gains (losses) on other (4) 11 Other (income) expense, net Total before tax (4) 11 Tax (expense) benefit 1 (3) Gain (loss) net of tax (3) 8 Total net gain (loss) reclassified for the period $ 108 $ 123

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
REVENUES (Tables)	Aug. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present the Company's Revenues disaggregated by reportable operating segment, major product line and distribution channel: THREE MONTHS ENDED AUGUST 31, 2023 (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 $ 3,733 $ 2,260 $ 1,287 $ 1,141 $ — $ 8,421 $ 522 $ — $ 8,943 Apparel 1,479 1,137 401 371 — 3,388 20 — 3,408 Equipment 211 213 47 60 — 531 11 — 542 Other — — — — 13 13 35 (2) 46 TOTAL REVENUES $ 5,423 $ 3,610 $ 1,735 $ 1,572 $ 13 $ 12,353 $ 588 $ (2) $ 12,939 Revenues by: Sales to Wholesale Customers $ 2,772 $ 2,379 $ 895 $ 937 $ — $ 6,983 $ 329 $ — $ 7,312 Sales through Direct to Consumer 2,651 1,231 840 635 — 5,357 224 — 5,581 Other — — — — 13 13 35 (2) 46 TOTAL REVENUES $ 5,423 $ 3,610 $ 1,735 $ 1,572 $ 13 $ 12,353 $ 588 $ (2) $ 12,939 THREE MONTHS ENDED AUGUST 31, 2022 (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 $ 3,805 $ 2,012 $ 1,233 $ 1,064 $ — $ 8,114 $ 577 $ — $ 8,691 Apparel 1,494 1,153 374 413 — 3,434 20 — 3,454 Equipment 211 168 49 58 — 486 8 — 494 Other — — — — 14 14 38 (4) 48 TOTAL REVENUES $ 5,510 $ 3,333 $ 1,656 $ 1,535 $ 14 $ 12,048 $ 643 $ (4) $ 12,687 Revenues by: Sales to Wholesale Customers $ 3,027 $ 2,203 $ 839 $ 914 $ — $ 6,983 $ 344 $ — $ 7,327 Sales through Direct to Consumer 2,483 1,130 817 621 — 5,051 261 — 5,312 Other — — — — 14 14 38 (4) 48 TOTAL REVENUES $ 5,510 $ 3,333 $ 1,656 $ 1,535 $ 14 $ 12,048 $ 643 $ (4) $ 12,687

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	3 Months Ended
OPERATING SEGMENTS (Tables)	Aug. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	THREE MONTHS ENDED AUGUST 31, (Dollars in millions) 2023 2022 REVENUES North America $ 5,423 $ 5,510 Europe, Middle East & Africa 3,610 3,333 Greater China 1,735 1,656 Asia Pacific & Latin America 1,572 1,535 Global Brand Divisions 13 14 Total NIKE Brand 12,353 12,048 Converse 588 643 Corporate (2) (4) TOTAL NIKE, INC. REVENUES $ 12,939 $ 12,687 EARNINGS BEFORE INTEREST AND TAXES North America $ 1,434 $ 1,377 Europe, Middle East & Africa 930 975 Greater China 525 541 Asia Pacific & Latin America 414 500 Global Brand Divisions (1,205) (1,187) Converse 167 209 Corporate (651) (574) Interest expense (income), net (34) 13 TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES $ 1,648 $ 1,828
Reconciliation of Assets from Segment to Consolidated	AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 ACCOUNTS RECEIVABLE, NET North America $ 1,932 $ 1,653 Europe, Middle East & Africa 1,562 1,197 Greater China 161 162 Asia Pacific & Latin America 687 700 Global Brand Divisions 84 96 Total NIKE Brand 4,426 3,808 Converse 240 235 Corporate 83 88 TOTAL ACCOUNTS RECEIVABLE, NET $ 4,749 $ 4,131 INVENTORIES North America $ 3,761 $ 3,806 Europe, Middle East & Africa 2,220 2,167 Greater China 1,182 973 Asia Pacific & Latin America 1,072 894 Global Brand Divisions 222 232 Total NIKE Brand 8,457 8,072 Converse 300 305 Corporate (59) 77 TOTAL INVENTORIES (1) $ 8,698 $ 8,454 (1) Inventories as of August 31, 2023 and May 31, 2023, were substantially all finished goods. AUGUST 31, MAY 31, (Dollars in millions) 2023 2023 PROPERTY, PLANT AND EQUIPMENT, NET North America $ 792 $ 794 Europe, Middle East & Africa 1,043 1,009 Greater China 276 292 Asia Pacific & Latin America 275 279 Global Brand Divisions 889 840 Total NIKE Brand 3,275 3,214 Converse 36 38 Corporate 1,798 1,829 TOTAL PROPERTY, PLANT AND EQUIPMENT, NET $ 5,109 $ 5,081

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Accounting Policies [Abstract]
Outstanding supplier obligations, current	$ 953	$ 834

ACCRUED LIABILITIES (Detail)

ACCRUED LIABILITIES (Detail) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Accrued Liabilities, Current [Abstract]
Compensation and benefits, excluding taxes	$ 1,133	$ 1,737
Sales-related reserves	1,003	994
Dividends payable	526	529
Import and logistics	439	370
Endorsement compensation	303	552
Other	1,583	1,541
Accrued liabilities	$ 4,987	$ 5,723

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Assets, Fair Value Disclosure [Abstract]
SHORT-TERM INVESTMENTS	$ 2,612	$ 3,234
Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Cash	1,432	1,767
ASSETS AT FAIR VALUE	8,790	10,675
CASH AND EQUIVALENTS	6,178	7,441
SHORT-TERM INVESTMENTS	2,612	3,234
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1 \| U.S. Treasury securities
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	2,022	2,655
CASH AND EQUIVALENTS	4	0
SHORT-TERM INVESTMENTS	2,018	2,655
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	5,336	6,253
CASH AND EQUIVALENTS	4,742	5,674
SHORT-TERM INVESTMENTS	594	579
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2 \| Commercial paper and bonds
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	549	543
CASH AND EQUIVALENTS	13	15
SHORT-TERM INVESTMENTS	536	528
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2 \| Money market funds
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	4,154	5,157
CASH AND EQUIVALENTS	4,154	5,157
SHORT-TERM INVESTMENTS	0	0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2 \| Time deposits
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	581	507
CASH AND EQUIVALENTS	575	502
SHORT-TERM INVESTMENTS	6	5
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2 \| U.S. Agency securities
Assets, Fair Value Disclosure [Abstract]
ASSETS AT FAIR VALUE	52	46
CASH AND EQUIVALENTS	0	0
SHORT-TERM INVESTMENTS	$ 52	$ 46

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	May 31, 2023
Fair Value Disclosures [Abstract]
Available-for-sale securities with maturity dates within one year from purchase date	$ 1,945
Available-for-sale securities with maturity dates over one year and less than five years from purchase date	667
Interest income related to cash and equivalents and short-term investments	99	$ 65
Fair value of long term debt	$ 7,768		$ 7,889

FAIR VALUE MEASUREMENTS - Deriv

FAIR VALUE MEASUREMENTS - Derivative Assets and Liabilities at Fair Value (Detail) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Cash and Cash Equivalents
Derivatives, Fair Value [Line Items]
Sales-related reserves	$ 7
Foreign exchange forwards and options \| Cash and Cash Equivalents
Derivatives, Fair Value [Line Items]
Sales-related reserves	7	$ 36
Fair value of derivative liability collateral	0	0
Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Reduction in derivative liabilities if netted	233	178
Reduction in derivative assets if netted	233	178
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring \| Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
ASSETS AT FAIR VALUE	491	557
OTHER CURRENT ASSETS	420	493
OTHER LONG-TERM ASSETS	71	64
LIABILITIES AT FAIR VALUE	235	180
ACCRUED LIABILITIES	177	128
OTHER LONG-TERM LIABILITIES	$ 58	$ 52

INCOME TAXES (Detail)

INCOME TAXES (Detail) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES (Detail) - USD ($) $ in Millions	Aug. 31, 2023	Aug. 31, 2022	May 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	12%	19.70%
Total gross unrecognized tax benefits, excluding related interest and penalties	$ 931		$ 936
Total gross unrecognized tax benefits, excluding related interest and penalties, amount which would affect the Company's effective tax rate if recognized in future periods	644
Accrued interest and penalties related to uncertain tax positions (excluding federal benefit)	274		$ 268
Estimated decrease in total gross unrecognized tax benefits as a result of resolutions of global tax examinations and expiration of applicable statutes of limitations	$ 20

STOCK-BASED COMPENSATION - Tota

STOCK-BASED COMPENSATION - Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit related to stock-based compensation expense	$ 17	$ 20
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	196	170
Class B Common Stock \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	76	75
Class B Common Stock \| ESPPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	21	15
Class B Common Stock \| Restricted stock and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 99	$ 80
Stock Incentive Plan \| Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	798,000,000

STOCK-BASED COMPENSATION - Weig

STOCK-BASED COMPENSATION - Weighted Average Assumptions Used to Estimate Fair Values (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Class B Common Stock \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum term of market traded options for estimates of expected volatility	1 year
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share of the options granted (in dollars per share)	$ 34.79	$ 32.13
Dividend yield	1.10%	0.80%
Expected volatility	29.20%	27%
Weighted average expected life (in years)	5 years 9 months 18 days	5 years 9 months 18 days
Risk-free interest rate	4.20%	2.70%
Stock options \| Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs from stock options	$ 387
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period	2 years 4 months 24 days

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 106,850,000	$ 127,160,000
Unrecognized compensation costs from restricted stock, net of estimated forfeitures	$ 676
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period	2 years 3 months 18 days

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options not included in the computation of diluted earnings per share (in shares)	33.7	23.8

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation from Basic Earnings Per Share to Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 1,450	$ 1,468
Determination of shares:
Weighted average common shares outstanding (in shares)	1,528.4	1,567.1
Assumed conversion of dilutive stock options and awards (in shares)	14.9	18.7
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in shares)	1,543.3	1,585.8
Earnings per common share:
Basic (in dollars per share)	$ 0.95	$ 0.94
Diluted (in dollars per share)	$ 0.94	$ 0.93

RISK MANAGEMENT AND DERIVATIV_3

RISK MANAGEMENT AND DERIVATIVES - FV of Derivative Instruments Included within Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	$ 491	$ 557
DERIVATIVE LIABILITIES	235	180
Derivatives formally designated as hedging instruments
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	477	544
DERIVATIVE LIABILITIES	200	145
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	406	480
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	71	64
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Accrued liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	142	93
Derivatives formally designated as hedging instruments \| Foreign exchange forwards and options \| Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	58	52
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	14	13
DERIVATIVE LIABILITIES	35	35
Derivatives not designated as hedging instruments \| Foreign exchange forwards and options \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
DERIVATIVE ASSETS	14	13
Derivatives not designated as hedging instruments \| Foreign exchange forwards and options \| Accrued liabilities
Derivatives, Fair Value [Line Items]
DERIVATIVE LIABILITIES	$ 35	$ 35

RISK MANAGEMENT AND DERIVATIV_4

RISK MANAGEMENT AND DERIVATIVES - Effects Of Cash Flow Hedges in Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Revenues	$ 12,939	$ 12,687
Cost of sales	7,219	7,072
Demand creation expense	1,069	943
Other (income) expense, net	(10)	(146)
Interest expense (income), net	(34)	13
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	120	179
Foreign exchange forwards and options \| Revenues \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	1	(9)
Foreign exchange forwards and options \| Cost of sales \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	86	109
Foreign exchange forwards and options \| Demand creation expense \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	0	(1)
Foreign exchange forwards and options \| Other (income) expense, net \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	35	82
Interest rate swaps \| Interest expense (income), net \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) ON CASH FLOW HEDGE ACTIVITY	$ (2)	$ (2)

RISK MANAGEMENT AND DERIVATIV_5

RISK MANAGEMENT AND DERIVATIVES - Amounts Affecting Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Foreign exchange forwards and options and embedded derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other (income) expense, net	Other (income) expense, net
Foreign exchange forwards and options and embedded derivatives \| Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED  IN INCOME ON DERIVATIVES	$ (27)	$ 61
Derivatives designated as cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	(30)	800
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	120	179
Derivatives designated as cash flow hedges \| Foreign exchange forwards and options \| Revenues
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	(18)	25
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	1	(9)
Derivatives designated as cash flow hedges \| Foreign exchange forwards and options \| Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	(2)	487
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	86	109
Derivatives designated as cash flow hedges \| Foreign exchange forwards and options \| Demand creation expense
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	0	(5)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	0	(1)
Derivatives designated as cash flow hedges \| Foreign exchange forwards and options \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	(10)	293
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	35	82
Derivatives designated as cash flow hedges \| Interest rate swaps \| Interest expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER  COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES	0	0
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME	$ (2)	$ (2)

RISK MANAGEMENT AND DERIVATIV_6

RISK MANAGEMENT AND DERIVATIVES - Additional Information (Detail)	3 Months Ended
	Aug. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Deferred net gains (net of tax) on both outstanding and matured derivatives accumulated in other comprehensive income are expected to be reclassified to net income during the next twelve months as a result of underlying hedged transactions also being recorded in net income	$ 313,000,000
Maximum term over which the company hedges exposures to the variability of cash flows for its forecasted transactions	27 months
Credit risk related contingent features collateral threshold	$ 50,000,000
Derivative instruments in net asset position	256,000,000
Cash and Cash Equivalents
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Sales-related reserves	7,000,000
Not designated as derivative instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total notional amount of outstanding derivatives	$ 3,700,000,000
Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional period for forecasted transaction expected to occur	2 months
Total notional amount of outstanding derivatives	$ 18,300,000,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 14,004	$ 15,281
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications	13	441
Reclassifications to net income of previously deferred (gains) losses	(108)	(123)
Total other comprehensive income (loss), net of tax	(95)	318
Ending balance	13,971	15,822
Other comprehensive income, before reclassification, tax benefit (expense)	7	(83)
Reclassification from AOCI, current period, tax expense (benefit)	8	21
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	231	318
Other comprehensive income (loss):
Total other comprehensive income (loss), net of tax	(95)	318
Ending balance	136	636
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(253)	(520)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications	36	(272)
Reclassifications to net income of previously deferred (gains) losses	0	46
Total other comprehensive income (loss), net of tax	36	(226)
Ending balance	(217)	(746)
Other comprehensive income, before reclassification, tax benefit (expense)	0	0
Reclassification from AOCI, current period, tax expense (benefit)	0	0
CASH FLOW HEDGES
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	431	779
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications	(23)	716
Reclassifications to net income of previously deferred (gains) losses	(111)	(161)
Total other comprehensive income (loss), net of tax	(134)	555
Ending balance	297	1,334
Other comprehensive income, before reclassification, tax benefit (expense)	7	(84)
Reclassification from AOCI, current period, tax expense (benefit)	9	18
NET INVESTMENT HEDGES
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	115	115
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications	0	0
Reclassifications to net income of previously deferred (gains) losses	0	0
Total other comprehensive income (loss), net of tax	0	0
Ending balance	115	115
Other comprehensive income, before reclassification, tax benefit (expense)	0	0
Reclassification from AOCI, current period, tax expense (benefit)	0	0
OTHER
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(62)	(56)
Other comprehensive income (loss):
Other comprehensive gains (losses) before reclassifications	0	(3)
Reclassifications to net income of previously deferred (gains) losses	3	(8)
Total other comprehensive income (loss), net of tax	3	(11)
Ending balance	(59)	(67)
Other comprehensive income, before reclassification, tax benefit (expense)	0	1
Reclassification from AOCI, current period, tax expense (benefit)	$ (1)	$ 3

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	$ 10	$ 146
Revenues	12,939	12,687
Cost of sales	(7,219)	(7,072)
Demand creation expense	(1,069)	(943)
Interest expense (income), net	34	(13)
Income before income taxes	1,648	1,828
Tax (expense) benefit	(198)	(360)
AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total net gain (loss) reclassified for the period	108	123
Gains (losses) on foreign currency translation adjustment \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	0	(46)
Income before income taxes	0	(46)
Tax (expense) benefit	0	0
Total net gain (loss) reclassified for the period	0	(46)
Gain (losses) on cash flow hedges \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	35	82
Revenues	1	(9)
Cost of sales	86	109
Demand creation expense	0	(1)
Interest expense (income), net	(2)	(2)
Income before income taxes	120	179
Tax (expense) benefit	(9)	(18)
Total net gain (loss) reclassified for the period	111	161
OTHER \| AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	(4)	11
Income before income taxes	(4)	11
Tax (expense) benefit	1	(3)
Total net gain (loss) reclassified for the period	$ (3)	$ 8

REVENUES (Details)

REVENUES (Details) - USD ($)	3 Months Ended
REVENUES (Details) - USD ($)	Aug. 31, 2023	Aug. 31, 2022	May 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 12,939,000,000	$ 12,687,000,000
Contract asset	0		$ 0
Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	7,312,000,000	7,327,000,000
Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	5,581,000,000	5,312,000,000
Other
Disaggregation of Revenue [Line Items]
Revenues	46,000,000	48,000,000
Footwear
Disaggregation of Revenue [Line Items]
Revenues	8,943,000,000	8,691,000,000
Apparel
Disaggregation of Revenue [Line Items]
Revenues	3,408,000,000	3,454,000,000
Equipment
Disaggregation of Revenue [Line Items]
Revenues	542,000,000	494,000,000
Other
Disaggregation of Revenue [Line Items]
Revenues	46,000,000	48,000,000
Global Brand Divisions
Disaggregation of Revenue [Line Items]
Revenues	13,000,000	14,000,000
Global Brand Divisions \| Other
Disaggregation of Revenue [Line Items]
Revenues	13,000,000	14,000,000
Global Brand Divisions \| Other
Disaggregation of Revenue [Line Items]
Revenues	13,000,000	14,000,000
Corporate
Disaggregation of Revenue [Line Items]
Revenues	(2,000,000)	(4,000,000)
Corporate \| Other
Disaggregation of Revenue [Line Items]
Revenues	(2,000,000)	(4,000,000)
Corporate \| Other
Disaggregation of Revenue [Line Items]
Revenues	(2,000,000)	(4,000,000)
NIKE Brand \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	12,353,000,000	12,048,000,000
NIKE Brand \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	6,983,000,000	6,983,000,000
NIKE Brand \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	5,357,000,000	5,051,000,000
NIKE Brand \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	13,000,000	14,000,000
NIKE Brand \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	8,421,000,000	8,114,000,000
NIKE Brand \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	3,388,000,000	3,434,000,000
NIKE Brand \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	531,000,000	486,000,000
NIKE Brand \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	13,000,000	14,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	5,423,000,000	5,510,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	2,772,000,000	3,027,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	2,651,000,000	2,483,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	3,733,000,000	3,805,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	1,479,000,000	1,494,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	211,000,000	211,000,000
NIKE Brand \| NORTH AMERICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	3,610,000,000	3,333,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	2,379,000,000	2,203,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	1,231,000,000	1,130,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	2,260,000,000	2,012,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	1,137,000,000	1,153,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	213,000,000	168,000,000
NIKE Brand \| EUROPE, MIDDLE EAST & AFRICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| GREATER CHINA \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	1,735,000,000	1,656,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	895,000,000	839,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	840,000,000	817,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| GREATER CHINA \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	1,287,000,000	1,233,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	401,000,000	374,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	47,000,000	49,000,000
NIKE Brand \| GREATER CHINA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	1,572,000,000	1,535,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	937,000,000	914,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	635,000,000	621,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	1,141,000,000	1,064,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	371,000,000	413,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	60,000,000	58,000,000
NIKE Brand \| ASIA PACIFIC & LATIN AMERICA \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
CONVERSE \| Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	588,000,000	643,000,000
CONVERSE \| Operating Segments \| Sales to Wholesale Customers
Disaggregation of Revenue [Line Items]
Revenues	329,000,000	344,000,000
CONVERSE \| Operating Segments \| Sales through Direct to Consumer
Disaggregation of Revenue [Line Items]
Revenues	224,000,000	261,000,000
CONVERSE \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	35,000,000	38,000,000
CONVERSE \| Operating Segments \| Footwear
Disaggregation of Revenue [Line Items]
Revenues	522,000,000	577,000,000
CONVERSE \| Operating Segments \| Apparel
Disaggregation of Revenue [Line Items]
Revenues	20,000,000	20,000,000
CONVERSE \| Operating Segments \| Equipment
Disaggregation of Revenue [Line Items]
Revenues	11,000,000	8,000,000
CONVERSE \| Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenues	$ 35,000,000	$ 38,000,000

OPERATING SEGMENTS - Informatio

OPERATING SEGMENTS - Information by Operating Segments (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 12,939	$ 12,687
Interest expense (income), net	(34)	13
Income before income taxes	1,648	1,828
Global Brand Divisions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	13	14
EARNINGS BEFORE INTEREST AND TAXES	(1,205)	(1,187)
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	(2)	(4)
EARNINGS BEFORE INTEREST AND TAXES	(651)	(574)
NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	12,353	12,048
CONVERSE \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	588	643
EARNINGS BEFORE INTEREST AND TAXES	167	209
NORTH AMERICA \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	5,423	5,510
EARNINGS BEFORE INTEREST AND TAXES	1,434	1,377
EUROPE, MIDDLE EAST & AFRICA \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,610	3,333
EARNINGS BEFORE INTEREST AND TAXES	930	975
GREATER CHINA \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,735	1,656
EARNINGS BEFORE INTEREST AND TAXES	525	541
ASIA PACIFIC & LATIN AMERICA \| NIKE Brand \| Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,572	1,535
EARNINGS BEFORE INTEREST AND TAXES	$ 414	$ 500

OPERATING SEGMENTS - Accounts R

OPERATING SEGMENTS - Accounts Receivable Net Inventories and Property Plant and Equipment Net by Operating Segments (Detail) - USD ($) $ in Millions	Aug. 31, 2023	May 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	$ 4,749	$ 4,131
Inventories	8,698	8,454
Property, plant and equipment, net	5,109	5,081
Global Brand Divisions
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	84	96
Inventories	222	232
Property, plant and equipment, net	889	840
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	83	88
Inventories	(59)	77
Property, plant and equipment, net	1,798	1,829
NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	4,426	3,808
Inventories	8,457	8,072
Property, plant and equipment, net	3,275	3,214
CONVERSE \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	240	235
Inventories	300	305
Property, plant and equipment, net	36	38
NORTH AMERICA \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	1,932	1,653
Inventories	3,761	3,806
Property, plant and equipment, net	792	794
EUROPE, MIDDLE EAST & AFRICA \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	1,562	1,197
Inventories	2,220	2,167
Property, plant and equipment, net	1,043	1,009
GREATER CHINA \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	161	162
Inventories	1,182	973
Property, plant and equipment, net	276	292
ASIA PACIFIC & LATIN AMERICA \| NIKE Brand \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	687	700
Inventories	1,072	894
Property, plant and equipment, net	$ 275	$ 279