| NOTE\u00a01 \u2014 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
| NOTE\u00a02 \u2014 PROPERTY, PLANT AND EQUIPMENT |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Land and improvements | $ | 334\u00a0 | $ | 329\u00a0 | ||||
| Buildings | 3,510\u00a0 | 3,439\u00a0 | ||||||
| Machinery and equipment | 2,954\u00a0 | 3,123\u00a0 | ||||||
| Internal-use software | 1,693\u00a0 | 1,807\u00a0 | ||||||
| Leasehold improvements | 2,037\u00a0 | 2,023\u00a0 | ||||||
| Construction in process | 404\u00a0 | 193\u00a0 | ||||||
| Total property, plant and equipment, gross | 10,932\u00a0 | 10,914\u00a0 | ||||||
Less accumulated depreciation and amortization | 6,104\u00a0 | 5,914\u00a0 | ||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT, NET | $ | 4,828\u00a0 | $ | 5,000\u00a0 |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Land and improvements | $ | 334\u00a0 | $ | 329\u00a0 | ||||
| Buildings | 3,510\u00a0 | 3,439\u00a0 | ||||||
| Machinery and equipment | 2,954\u00a0 | 3,123\u00a0 | ||||||
| Internal-use software | 1,693\u00a0 | 1,807\u00a0 | ||||||
| Leasehold improvements | 2,037\u00a0 | 2,023\u00a0 | ||||||
| Construction in process | 404\u00a0 | 193\u00a0 | ||||||
| Total property, plant and equipment, gross | 10,932\u00a0 | 10,914\u00a0 | ||||||
Less accumulated depreciation and amortization | 6,104\u00a0 | 5,914\u00a0 | ||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT, NET | $ | 4,828\u00a0 | $ | 5,000\u00a0 |
| NOTE\u00a03 \u2014 ACCRUED LIABILITIES |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Sales-related reserves | $ | 1,834\u00a0 | $ | 1,282\u00a0 | ||||
| Compensation and benefits, excluding taxes | 1,245\u00a0 | 1,291\u00a0 | ||||||
| Dividends payable | 598\u00a0 | 563\u00a0 | ||||||
| Endorsement compensation | 481\u00a0 | 578\u00a0 | ||||||
| Other | 1,753\u00a0 | 2,011\u00a0 | ||||||
| TOTAL ACCRUED LIABILITIES | $ | 5,911\u00a0 | $ | 5,725\u00a0 |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Sales-related reserves | $ | 1,834\u00a0 | $ | 1,282\u00a0 | ||||
| Compensation and benefits, excluding taxes | 1,245\u00a0 | 1,291\u00a0 | ||||||
| Dividends payable | 598\u00a0 | 563\u00a0 | ||||||
| Endorsement compensation | 481\u00a0 | 578\u00a0 | ||||||
| Other | 1,753\u00a0 | 2,011\u00a0 | ||||||
| TOTAL ACCRUED LIABILITIES | $ | 5,911\u00a0 | $ | 5,725\u00a0 |
| NOTE\u00a04 \u2014 FAIR VALUE MEASUREMENTS |
| MAY 31, 2025 | |||||||||||
(Dollars in millions) | ASSETS AT FAIR VALUE | CASH AND EQUIVALENTS | SHORT-TERM INVESTMENTS | ||||||||
| Cash | $ | 1,221\u00a0 | $ | 1,221\u00a0 | $ | \u2014\u00a0 | |||||
| Level 1: | |||||||||||
| U.S. Treasury securities | 1,046\u00a0 | \u2014\u00a0 | 1,046\u00a0 | ||||||||
| Level 2: | |||||||||||
| Commercial paper and bonds | 675\u00a0 | 45\u00a0 | 630\u00a0 | ||||||||
| Money market funds | 5,902\u00a0 | 5,902\u00a0 | \u2014\u00a0 | ||||||||
| Time deposits | 297\u00a0 | 295\u00a0 | 2\u00a0 | ||||||||
| U.S. Agency securities | 10\u00a0 | 1\u00a0 | 9\u00a0 | ||||||||
| Total Level 2 | 6,884\u00a0 | 6,243\u00a0 | 641\u00a0 | ||||||||
| TOTAL | $ | 9,151\u00a0 | $ | 7,464\u00a0 | $ | 1,687\u00a0 |
| MAY 31, 2024 | |||||||||||
(Dollars in millions) | ASSETS AT FAIR VALUE | CASH AND EQUIVALENTS | SHORT-TERM INVESTMENTS | ||||||||
| Cash | $ | 1,222\u00a0 | $ | 1,222\u00a0 | $ | \u2014\u00a0 | |||||
| Level 1: | |||||||||||
| U.S. Treasury securities | 1,175\u00a0 | 155\u00a0 | 1,020\u00a0 | ||||||||
| Level 2: | |||||||||||
| Commercial paper and bonds | 591\u00a0 | 17\u00a0 | 574\u00a0 | ||||||||
| Money market funds | 8,119\u00a0 | 8,119\u00a0 | \u2014\u00a0 | ||||||||
| Time deposits | 440\u00a0 | 347\u00a0 | 93\u00a0 | ||||||||
| U.S. Agency securities | 35\u00a0 | \u2014\u00a0 | 35\u00a0 | ||||||||
| Total Level 2 | 9,185\u00a0 | 8,483\u00a0 | 702\u00a0 | ||||||||
| TOTAL | $ | 11,582\u00a0 | $ | 9,860\u00a0 | $ | 1,722\u00a0 |
| MAY 31, 2025 | |||||||||||||||||||||||
| DERIVATIVE ASSETS | DERIVATIVE LIABILITIES | ||||||||||||||||||||||
| (Dollars in millions) | |||||||||||||||||||||||
| Level 2: | |||||||||||||||||||||||
Foreign exchange forwards and options(1) | $ | 107\u00a0 | $ | 85\u00a0 | $ | 22\u00a0 | $ | 368\u00a0 | $ | 226\u00a0 | $ | 142\u00a0 | |||||||||||
Interest rate swaps(1) | 24\u00a0 | \u2014\u00a0 | 24\u00a0 | 3\u00a0 | \u2014\u00a0 | 3\u00a0 | |||||||||||||||||
TOTAL | $ | 131\u00a0 | $ | 85\u00a0 | $ | 46\u00a0 | $ | 371\u00a0 | $ | 226\u00a0 | $ | 145\u00a0 |
| MAY 31, 2024 | |||||||||||||||||||||||
| 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) | $ | 343\u00a0 | $ | 299\u00a0 | $ | 44\u00a0 | $ | 120\u00a0 | $ | 115\u00a0 | $ | 5\u00a0 | |||||||||||
Interest rate swaps(1) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 31\u00a0 | \u2014\u00a0 | 31\u00a0 | |||||||||||||||||
TOTAL | $ | 343\u00a0 | $ | 299\u00a0 | $ | 44\u00a0 | $ | 151\u00a0 | $ | 115\u00a0 | $ | 36\u00a0 |
| MAY 31, 2025 | |||||||||||
(Dollars in millions) | ASSETS AT FAIR VALUE | CASH AND EQUIVALENTS | SHORT-TERM INVESTMENTS | ||||||||
| Cash | $ | 1,221\u00a0 | $ | 1,221\u00a0 | $ | \u2014\u00a0 | |||||
| Level 1: | |||||||||||
| U.S. Treasury securities | 1,046\u00a0 | \u2014\u00a0 | 1,046\u00a0 | ||||||||
| Level 2: | |||||||||||
| Commercial paper and bonds | 675\u00a0 | 45\u00a0 | 630\u00a0 | ||||||||
| Money market funds | 5,902\u00a0 | 5,902\u00a0 | \u2014\u00a0 | ||||||||
| Time deposits | 297\u00a0 | 295\u00a0 | 2\u00a0 | ||||||||
| U.S. Agency securities | 10\u00a0 | 1\u00a0 | 9\u00a0 | ||||||||
| Total Level 2 | 6,884\u00a0 | 6,243\u00a0 | 641\u00a0 | ||||||||
| TOTAL | $ | 9,151\u00a0 | $ | 7,464\u00a0 | $ | 1,687\u00a0 |
| MAY 31, 2024 | |||||||||||
(Dollars in millions) | ASSETS AT FAIR VALUE | CASH AND EQUIVALENTS | SHORT-TERM INVESTMENTS | ||||||||
| Cash | $ | 1,222\u00a0 | $ | 1,222\u00a0 | $ | \u2014\u00a0 | |||||
| Level 1: | |||||||||||
| U.S. Treasury securities | 1,175\u00a0 | 155\u00a0 | 1,020\u00a0 | ||||||||
| Level 2: | |||||||||||
| Commercial paper and bonds | 591\u00a0 | 17\u00a0 | 574\u00a0 | ||||||||
| Money market funds | 8,119\u00a0 | 8,119\u00a0 | \u2014\u00a0 | ||||||||
| Time deposits | 440\u00a0 | 347\u00a0 | 93\u00a0 | ||||||||
| U.S. Agency securities | 35\u00a0 | \u2014\u00a0 | 35\u00a0 | ||||||||
| Total Level 2 | 9,185\u00a0 | 8,483\u00a0 | 702\u00a0 | ||||||||
| TOTAL | $ | 11,582\u00a0 | $ | 9,860\u00a0 | $ | 1,722\u00a0 |
| MAY 31, 2025 | |||||||||||||||||||||||
| DERIVATIVE ASSETS | DERIVATIVE LIABILITIES | ||||||||||||||||||||||
| (Dollars in millions) | |||||||||||||||||||||||
| Level 2: | |||||||||||||||||||||||
Foreign exchange forwards and options(1) | $ | 107\u00a0 | $ | 85\u00a0 | $ | 22\u00a0 | $ | 368\u00a0 | $ | 226\u00a0 | $ | 142\u00a0 | |||||||||||
Interest rate swaps(1) | 24\u00a0 | \u2014\u00a0 | 24\u00a0 | 3\u00a0 | \u2014\u00a0 | 3\u00a0 | |||||||||||||||||
TOTAL | $ | 131\u00a0 | $ | 85\u00a0 | $ | 46\u00a0 | $ | 371\u00a0 | $ | 226\u00a0 | $ | 145\u00a0 |
| MAY 31, 2024 | |||||||||||||||||||||||
| 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) | $ | 343\u00a0 | $ | 299\u00a0 | $ | 44\u00a0 | $ | 120\u00a0 | $ | 115\u00a0 | $ | 5\u00a0 | |||||||||||
Interest rate swaps(1) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 31\u00a0 | \u2014\u00a0 | 31\u00a0 | |||||||||||||||||
TOTAL | $ | 343\u00a0 | $ | 299\u00a0 | $ | 44\u00a0 | $ | 151\u00a0 | $ | 115\u00a0 | $ | 36\u00a0 |
| \u00a0 | DERIVATIVE ASSETS | ||||||||||
| BALANCE SHEET LOCATION | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | |||||||||
| Derivatives\u00a0formally designated as hedging instruments: | |||||||||||
| Foreign exchange forwards and options | Prepaid expenses and other current assets | $ | 75\u00a0 | $ | 269\u00a0 | ||||||
| Foreign exchange forwards and options | Deferred income taxes and other assets | 22\u00a0 | 44\u00a0 | ||||||||
| Interest rate swaps | Deferred income taxes and other assets | 24\u00a0 | \u2014\u00a0 | ||||||||
| Total derivatives formally designated as hedging instruments | 121\u00a0 | 313\u00a0 | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||
Foreign exchange forwards and options | Prepaid expenses and other current assets | 10\u00a0 | 30\u00a0 | ||||||||
| Total derivatives not designated as hedging instruments | 10\u00a0 | 30\u00a0 | |||||||||
| TOTAL DERIVATIVE ASSETS | $ | 131\u00a0 | $ | 343\u00a0 |
| \u00a0 | DERIVATIVE LIABILITIES | ||||||||||
| BALANCE SHEET LOCATION | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | |||||||||
| Derivatives\u00a0formally designated as hedging instruments: | |||||||||||
| Foreign exchange forwards and options | Accrued\u00a0liabilities | $ | 216\u00a0 | $ | 110\u00a0 | ||||||
| Foreign exchange forwards and options | Deferred income taxes and other liabilities | 142\u00a0 | 5\u00a0 | ||||||||
| Interest rate swaps | Deferred income taxes and other liabilities | 3\u00a0 | 31\u00a0 | ||||||||
| Total derivatives formally designated as hedging instruments | 361\u00a0 | 146\u00a0 | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||
Foreign exchange forwards and options | Accrued liabilities | 10\u00a0 | 5\u00a0 | ||||||||
| Total derivatives not designated as hedging instruments | 10\u00a0 | 5\u00a0 | |||||||||
| TOTAL DERIVATIVE LIABILITIES | $ | 371\u00a0 | $ | 151\u00a0 |
| NOTE\u00a05 \u2014 SHORT-TERM BORROWINGS AND CREDIT LINES |
| NOTE\u00a06 \u2014 LONG-TERM DEBT |
| BOOK VALUE OUTSTANDING AS OF MAY\u00a031, | |||||||||||||||||
Scheduled Maturity (Dollars in millions) | ORIGINAL PRINCIPAL | INTEREST RATE | INTEREST PAYMENTS | 2025 | 2024 | ||||||||||||
Corporate Term Debt:(1)(2) | |||||||||||||||||
| March 27, 2025 | 1,000\u00a0 | 2.40\u00a0 | % | Semi-Annually | $ | \u2014\u00a0 | $ | 999\u00a0 | |||||||||
| November 1, 2026 | 1,000\u00a0 | 2.38\u00a0 | % | Semi-Annually | 999\u00a0 | 998\u00a0 | |||||||||||
| March 27, 2027 | 1,000\u00a0 | 2.75\u00a0 | % | Semi-Annually | 999\u00a0 | 998\u00a0 | |||||||||||
| March 27, 2030 | 1,500\u00a0 | 2.85\u00a0 | % | Semi-Annually | 1,495\u00a0 | 1,494\u00a0 | |||||||||||
March 27, 2040(3) | 1,000\u00a0 | 3.25\u00a0 | % | Semi-Annually | 993\u00a0 | 966\u00a0 | |||||||||||
May 1, 2043(3) | 500\u00a0 | 3.63\u00a0 | % | Semi-Annually | 502\u00a0 | 488\u00a0 | |||||||||||
November 1, 2045(3) | 1,000\u00a0 | 3.88\u00a0 | % | Semi-Annually | 997\u00a0 | 986\u00a0 | |||||||||||
| November 1, 2046 | 500\u00a0 | 3.38\u00a0 | % | Semi-Annually | 493\u00a0 | 492\u00a0 | |||||||||||
| March 27, 2050 | 1,500\u00a0 | 3.38\u00a0 | % | Semi-Annually | 1,483\u00a0 | 1,482\u00a0 | |||||||||||
| Total | 7,961\u00a0 | 8,903\u00a0 | |||||||||||||||
| Less Current Portion of Long-Term Debt | \u2014\u00a0 | 1,000\u00a0 | |||||||||||||||
| TOTAL LONG-TERM DEBT | $ | 7,961\u00a0 | $ | 7,903\u00a0 |
| BOOK VALUE OUTSTANDING AS OF MAY\u00a031, | |||||||||||||||||
Scheduled Maturity (Dollars in millions) | ORIGINAL PRINCIPAL | INTEREST RATE | INTEREST PAYMENTS | 2025 | 2024 | ||||||||||||
Corporate Term Debt:(1)(2) | |||||||||||||||||
| March 27, 2025 | 1,000\u00a0 | 2.40\u00a0 | % | Semi-Annually | $ | \u2014\u00a0 | $ | 999\u00a0 | |||||||||
| November 1, 2026 | 1,000\u00a0 | 2.38\u00a0 | % | Semi-Annually | 999\u00a0 | 998\u00a0 | |||||||||||
| March 27, 2027 | 1,000\u00a0 | 2.75\u00a0 | % | Semi-Annually | 999\u00a0 | 998\u00a0 | |||||||||||
| March 27, 2030 | 1,500\u00a0 | 2.85\u00a0 | % | Semi-Annually | 1,495\u00a0 | 1,494\u00a0 | |||||||||||
March 27, 2040(3) | 1,000\u00a0 | 3.25\u00a0 | % | Semi-Annually | 993\u00a0 | 966\u00a0 | |||||||||||
May 1, 2043(3) | 500\u00a0 | 3.63\u00a0 | % | Semi-Annually | 502\u00a0 | 488\u00a0 | |||||||||||
November 1, 2045(3) | 1,000\u00a0 | 3.88\u00a0 | % | Semi-Annually | 997\u00a0 | 986\u00a0 | |||||||||||
| November 1, 2046 | 500\u00a0 | 3.38\u00a0 | % | Semi-Annually | 493\u00a0 | 492\u00a0 | |||||||||||
| March 27, 2050 | 1,500\u00a0 | 3.38\u00a0 | % | Semi-Annually | 1,483\u00a0 | 1,482\u00a0 | |||||||||||
| Total | 7,961\u00a0 | 8,903\u00a0 | |||||||||||||||
| Less Current Portion of Long-Term Debt | \u2014\u00a0 | 1,000\u00a0 | |||||||||||||||
| TOTAL LONG-TERM DEBT | $ | 7,961\u00a0 | $ | 7,903\u00a0 |
| NOTE\u00a07 \u2014 INCOME TAXES |
| YEAR ENDED MAY\u00a031, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Income before income taxes: | |||||||||||
| United States | $ | 3,220\u00a0 | $ | 5,588\u00a0 | $ | 4,663\u00a0 | |||||
| Foreign | 665\u00a0 | 1,112\u00a0 | 1,538\u00a0 | ||||||||
| TOTAL INCOME BEFORE INCOME TAXES | $ | 3,885\u00a0 | $ | 6,700\u00a0 | $ | 6,201\u00a0 |
| YEAR ENDED MAY\u00a031, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Current: | |||||||||||
| United States | |||||||||||
| Federal | $ | 358\u00a0 | $ | 782\u00a0 | $ | 430\u00a0 | |||||
| State | 121\u00a0 | 201\u00a0 | 184\u00a0 | ||||||||
| Foreign | 475\u00a0 | 514\u00a0 | 634\u00a0 | ||||||||
| Total Current | 954\u00a0 | 1,497\u00a0 | 1,248\u00a0 | ||||||||
| Deferred: | |||||||||||
| United States | |||||||||||
| Federal | (135) | (422) | (162) | ||||||||
| State | (12) | (61) | (25) | ||||||||
| Foreign | (141) | (14) | 70\u00a0 | ||||||||
| Total Deferred | (288) | (497) | (117) | ||||||||
| TOTAL INCOME TAX EXPENSE | $ | 666\u00a0 | $ | 1,000\u00a0 | $ | 1,131\u00a0 |
| \u00a0 | YEAR ENDED MAY\u00a031, | ||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Federal income tax rate | 21.0\u00a0 | % | 21.0\u00a0 | % | 21.0\u00a0 | % | |||||
| State taxes, net of federal benefit | 2.0\u00a0 | % | 1.4\u00a0 | % | 1.5\u00a0 | % | |||||
| Foreign earnings | 1.1\u00a0 | % | -2.5\u00a0 | % | 1.7\u00a0 | % | |||||
U.S. tax regulations - foreign currency losses | -3.4\u00a0 | % | 0.0\u00a0 | % | 0.0\u00a0 | % | |||||
| Foreign-derived intangible income benefit | -5.3\u00a0 | % | -4.8\u00a0 | % | -6.1\u00a0 | % | |||||
Stock-based compensation | 1.5\u00a0 | % | -0.5\u00a0 | % | -1.1\u00a0 | % | |||||
| Income tax audits and contingency reserves | 2.7\u00a0 | % | 1.8\u00a0 | % | 1.0\u00a0 | % | |||||
| U.S. research and development tax credit | -2.1\u00a0 | % | -2.1\u00a0 | % | -1.2\u00a0 | % | |||||
| Other, net | -0.4\u00a0 | % | 0.6\u00a0 | % | 1.4\u00a0 | % | |||||
| EFFECTIVE INCOME TAX RATE | 17.1\u00a0 | % | 14.9\u00a0 | % | 18.2\u00a0 | % |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Deferred tax assets: | ||||||||
Inventories | $ | 98\u00a0 | $ | 69\u00a0 | ||||
Sales return reserves | 205\u00a0 | 125\u00a0 | ||||||
Deferred compensation | 387\u00a0 | 347\u00a0 | ||||||
| Stock-based compensation | 285\u00a0 | 290\u00a0 | ||||||
Reserves and accrued liabilities | 143\u00a0 | 113\u00a0 | ||||||
| Operating lease liabilities | 458\u00a0 | 474\u00a0 | ||||||
| Intangibles | 217\u00a0 | 236\u00a0 | ||||||
| Capitalized research and development expenditures | 923\u00a0 | 878\u00a0 | ||||||
| Net operating loss carry-forwards | 75\u00a0 | 21\u00a0 | ||||||
| Subpart F deferred tax | 315\u00a0 | 409\u00a0 | ||||||
Other | 212\u00a0 | 214\u00a0 | ||||||
| Total deferred tax assets | 3,318\u00a0 | 3,176\u00a0 | ||||||
| Valuation allowance | (51) | (29) | ||||||
| Total deferred tax assets after valuation allowance | 3,267\u00a0 | 3,147\u00a0 | ||||||
| Deferred tax liabilities: | ||||||||
| Foreign withholding tax on undistributed earnings of foreign subsidiaries | (119) | (131) | ||||||
Property, plant and equipment | (225) | (290) | ||||||
| Right-of-use assets | (377) | (397) | ||||||
Other | (4) | (9) | ||||||
| Total deferred tax liabilities | (725) | (827) | ||||||
NET DEFERRED TAX ASSET (1) | $ | 2,542\u00a0 | $ | 2,320\u00a0 |
| \u00a0 | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Unrecognized tax benefits, beginning of the period | $ | 990\u00a0 | $ | 936\u00a0 | $ | 848\u00a0 | |||||
| Gross increases related to prior period tax positions | 11\u00a0 | 35\u00a0 | 95\u00a0 | ||||||||
Gross decreases related to prior period tax positions | (10) | (13) | (17) | ||||||||
Gross increases related to current period tax positions | 81\u00a0 | 77\u00a0 | 50\u00a0 | ||||||||
| Settlements | (5) | (22) | (18) | ||||||||
| Lapse of statute of limitations | (45) | (24) | (7) | ||||||||
| Changes due to currency translation | 4\u00a0 | 1\u00a0 | (15) | ||||||||
| UNRECOGNIZED TAX BENEFITS, END OF THE PERIOD | $ | 1,026\u00a0 | $ | 990\u00a0 | $ | 936\u00a0 |
| YEAR ENDED MAY\u00a031, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Income before income taxes: | |||||||||||
| United States | $ | 3,220\u00a0 | $ | 5,588\u00a0 | $ | 4,663\u00a0 | |||||
| Foreign | 665\u00a0 | 1,112\u00a0 | 1,538\u00a0 | ||||||||
| TOTAL INCOME BEFORE INCOME TAXES | $ | 3,885\u00a0 | $ | 6,700\u00a0 | $ | 6,201\u00a0 |
| YEAR ENDED MAY\u00a031, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Current: | |||||||||||
| United States | |||||||||||
| Federal | $ | 358\u00a0 | $ | 782\u00a0 | $ | 430\u00a0 | |||||
| State | 121\u00a0 | 201\u00a0 | 184\u00a0 | ||||||||
| Foreign | 475\u00a0 | 514\u00a0 | 634\u00a0 | ||||||||
| Total Current | 954\u00a0 | 1,497\u00a0 | 1,248\u00a0 | ||||||||
| Deferred: | |||||||||||
| United States | |||||||||||
| Federal | (135) | (422) | (162) | ||||||||
| State | (12) | (61) | (25) | ||||||||
| Foreign | (141) | (14) | 70\u00a0 | ||||||||
| Total Deferred | (288) | (497) | (117) | ||||||||
| TOTAL INCOME TAX EXPENSE | $ | 666\u00a0 | $ | 1,000\u00a0 | $ | 1,131\u00a0 |
| \u00a0 | YEAR ENDED MAY\u00a031, | ||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Federal income tax rate | 21.0\u00a0 | % | 21.0\u00a0 | % | 21.0\u00a0 | % | |||||
| State taxes, net of federal benefit | 2.0\u00a0 | % | 1.4\u00a0 | % | 1.5\u00a0 | % | |||||
| Foreign earnings | 1.1\u00a0 | % | -2.5\u00a0 | % | 1.7\u00a0 | % | |||||
U.S. tax regulations - foreign currency losses | -3.4\u00a0 | % | 0.0\u00a0 | % | 0.0\u00a0 | % | |||||
| Foreign-derived intangible income benefit | -5.3\u00a0 | % | -4.8\u00a0 | % | -6.1\u00a0 | % | |||||
Stock-based compensation | 1.5\u00a0 | % | -0.5\u00a0 | % | -1.1\u00a0 | % | |||||
| Income tax audits and contingency reserves | 2.7\u00a0 | % | 1.8\u00a0 | % | 1.0\u00a0 | % | |||||
| U.S. research and development tax credit | -2.1\u00a0 | % | -2.1\u00a0 | % | -1.2\u00a0 | % | |||||
| Other, net | -0.4\u00a0 | % | 0.6\u00a0 | % | 1.4\u00a0 | % | |||||
| EFFECTIVE INCOME TAX RATE | 17.1\u00a0 | % | 14.9\u00a0 | % | 18.2\u00a0 | % |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| Deferred tax assets: | ||||||||
Inventories | $ | 98\u00a0 | $ | 69\u00a0 | ||||
Sales return reserves | 205\u00a0 | 125\u00a0 | ||||||
Deferred compensation | 387\u00a0 | 347\u00a0 | ||||||
| Stock-based compensation | 285\u00a0 | 290\u00a0 | ||||||
Reserves and accrued liabilities | 143\u00a0 | 113\u00a0 | ||||||
| Operating lease liabilities | 458\u00a0 | 474\u00a0 | ||||||
| Intangibles | 217\u00a0 | 236\u00a0 | ||||||
| Capitalized research and development expenditures | 923\u00a0 | 878\u00a0 | ||||||
| Net operating loss carry-forwards | 75\u00a0 | 21\u00a0 | ||||||
| Subpart F deferred tax | 315\u00a0 | 409\u00a0 | ||||||
Other | 212\u00a0 | 214\u00a0 | ||||||
| Total deferred tax assets | 3,318\u00a0 | 3,176\u00a0 | ||||||
| Valuation allowance | (51) | (29) | ||||||
| Total deferred tax assets after valuation allowance | 3,267\u00a0 | 3,147\u00a0 | ||||||
| Deferred tax liabilities: | ||||||||
| Foreign withholding tax on undistributed earnings of foreign subsidiaries | (119) | (131) | ||||||
Property, plant and equipment | (225) | (290) | ||||||
| Right-of-use assets | (377) | (397) | ||||||
Other | (4) | (9) | ||||||
| Total deferred tax liabilities | (725) | (827) | ||||||
NET DEFERRED TAX ASSET (1) | $ | 2,542\u00a0 | $ | 2,320\u00a0 |
| \u00a0 | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Unrecognized tax benefits, beginning of the period | $ | 990\u00a0 | $ | 936\u00a0 | $ | 848\u00a0 | |||||
| Gross increases related to prior period tax positions | 11\u00a0 | 35\u00a0 | 95\u00a0 | ||||||||
Gross decreases related to prior period tax positions | (10) | (13) | (17) | ||||||||
Gross increases related to current period tax positions | 81\u00a0 | 77\u00a0 | 50\u00a0 | ||||||||
| Settlements | (5) | (22) | (18) | ||||||||
| Lapse of statute of limitations | (45) | (24) | (7) | ||||||||
| Changes due to currency translation | 4\u00a0 | 1\u00a0 | (15) | ||||||||
| UNRECOGNIZED TAX BENEFITS, END OF THE PERIOD | $ | 1,026\u00a0 | $ | 990\u00a0 | $ | 936\u00a0 |
| NOTE\u00a08 \u2014 REDEEMABLE PREFERRED STOCK |
| NOTE\u00a09 \u2014 COMMON STOCK AND STOCK-BASED COMPENSATION |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
Stock options(1) | $ | 292\u00a0 | $ | 336\u00a0 | $ | 311\u00a0 | |||||
| ESPPs | 69\u00a0 | 69\u00a0 | 72\u00a0 | ||||||||
Restricted stock and restricted stock units(1)(2) | 348\u00a0 | 399\u00a0 | 372\u00a0 | ||||||||
| TOTAL STOCK-BASED COMPENSATION EXPENSE | $ | 709\u00a0 | $ | 804\u00a0 | $ | 755\u00a0 |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Dividend yield | 1.6\u00a0 | % | 1.2\u00a0 | % | 0.9\u00a0 | % | |||||
| Expected volatility | 31.1\u00a0 | % | 29.3\u00a0 | % | 27.1\u00a0 | % | |||||
| Weighted average expected life (in years) | 6.0 | 5.8 | 5.8 | ||||||||
| Risk-free interest rate | 3.8\u00a0 | % | 4.3\u00a0 | % | 3.3\u00a0 | % |
SHARES(1) | WEIGHTED AVERAGE OPTION PRICE | |||||||
| (In\u00a0millions) | ||||||||
| Options outstanding as of May 31, 2024 | 73.7\u00a0 | $ | 98.10\u00a0 | |||||
| Exercised | (5.4) | 58.50\u00a0 | ||||||
| Forfeited | (6.5) | 101.93\u00a0 | ||||||
| Granted | 13.3\u00a0 | 83.20\u00a0 | ||||||
| Options outstanding as of May 31, 2025 | 75.1\u00a0 | $ | 97.99\u00a0 |
SHARES(1) | WEIGHTED AVERAGE GRANT DATE FAIR VALUE | |||||||
| (In\u00a0millions) | ||||||||
| Nonvested as of May 31, 2024 | 9.1\u00a0 | $ | 117.52 | |||||
| Vested | (3.3) | 116.76 | ||||||
| Forfeited | (1.7) | 105.68 | ||||||
| Granted | 6.6\u00a0 | 82.32 | ||||||
| Nonvested as of May 31, 2025 | 10.7\u00a0 | $ | 94.29 |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
Stock options(1) | $ | 292\u00a0 | $ | 336\u00a0 | $ | 311\u00a0 | |||||
| ESPPs | 69\u00a0 | 69\u00a0 | 72\u00a0 | ||||||||
Restricted stock and restricted stock units(1)(2) | 348\u00a0 | 399\u00a0 | 372\u00a0 | ||||||||
| TOTAL STOCK-BASED COMPENSATION EXPENSE | $ | 709\u00a0 | $ | 804\u00a0 | $ | 755\u00a0 |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
| 2025 | 2024 | 2023 | |||||||||
| Dividend yield | 1.6\u00a0 | % | 1.2\u00a0 | % | 0.9\u00a0 | % | |||||
| Expected volatility | 31.1\u00a0 | % | 29.3\u00a0 | % | 27.1\u00a0 | % | |||||
| Weighted average expected life (in years) | 6.0 | 5.8 | 5.8 | ||||||||
| Risk-free interest rate | 3.8\u00a0 | % | 4.3\u00a0 | % | 3.3\u00a0 | % |
SHARES(1) | WEIGHTED AVERAGE OPTION PRICE | |||||||
| (In\u00a0millions) | ||||||||
| Options outstanding as of May 31, 2024 | 73.7\u00a0 | $ | 98.10\u00a0 | |||||
| Exercised | (5.4) | 58.50\u00a0 | ||||||
| Forfeited | (6.5) | 101.93\u00a0 | ||||||
| Granted | 13.3\u00a0 | 83.20\u00a0 | ||||||
| Options outstanding as of May 31, 2025 | 75.1\u00a0 | $ | 97.99\u00a0 |
SHARES(1) | WEIGHTED AVERAGE GRANT DATE FAIR VALUE | |||||||
| (In\u00a0millions) | ||||||||
| Nonvested as of May 31, 2024 | 9.1\u00a0 | $ | 117.52 | |||||
| Vested | (3.3) | 116.76 | ||||||
| Forfeited | (1.7) | 105.68 | ||||||
| Granted | 6.6\u00a0 | 82.32 | ||||||
| Nonvested as of May 31, 2025 | 10.7\u00a0 | $ | 94.29 |
| NOTE\u00a010 \u2014 EARNINGS PER SHARE |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
(In millions, except per share data) | 2025 | 2024 | 2023 | ||||||||
| Net income available to common stockholders | $ | 3,219\u00a0 | $ | 5,700\u00a0 | $ | 5,070\u00a0 | |||||
| Determination of shares: | |||||||||||
| Weighted average common shares outstanding | 1,484.9\u00a0 | 1,517.6\u00a0 | 1,551.6\u00a0 | ||||||||
| Assumed conversion of dilutive stock options and awards | 2.7\u00a0 | 12.1\u00a0 | 18.2\u00a0 | ||||||||
| DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 1,487.6\u00a0 | 1,529.7\u00a0 | 1,569.8\u00a0 | ||||||||
| Earnings per common share: | |||||||||||
| Basic | $ | 2.17\u00a0 | $ | 3.76\u00a0 | $ | 3.27\u00a0 | |||||
| Diluted | $ | 2.16\u00a0 | $ | 3.73\u00a0 | $ | 3.23\u00a0 |
| \u00a0 | YEAR ENDED MAY 31, | ||||||||||
(In millions, except per share data) | 2025 | 2024 | 2023 | ||||||||
| Net income available to common stockholders | $ | 3,219\u00a0 | $ | 5,700\u00a0 | $ | 5,070\u00a0 | |||||
| Determination of shares: | |||||||||||
| Weighted average common shares outstanding | 1,484.9\u00a0 | 1,517.6\u00a0 | 1,551.6\u00a0 | ||||||||
| Assumed conversion of dilutive stock options and awards | 2.7\u00a0 | 12.1\u00a0 | 18.2\u00a0 | ||||||||
| DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 1,487.6\u00a0 | 1,529.7\u00a0 | 1,569.8\u00a0 | ||||||||
| Earnings per common share: | |||||||||||
| Basic | $ | 2.17\u00a0 | $ | 3.76\u00a0 | $ | 3.27\u00a0 | |||||
| Diluted | $ | 2.16\u00a0 | $ | 3.73\u00a0 | $ | 3.23\u00a0 |
| NOTE\u00a011 \u2014 BENEFIT PLANS |
| NOTE\u00a012 \u2014 RISK MANAGEMENT AND DERIVATIVES |
| \u00a0 | DERIVATIVE ASSETS | ||||||||||
| BALANCE SHEET LOCATION | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | |||||||||
| Derivatives\u00a0formally designated as hedging instruments: | |||||||||||
| Foreign exchange forwards and options | Prepaid expenses and other current assets | $ | 75\u00a0 | $ | 269\u00a0 | ||||||
| Foreign exchange forwards and options | Deferred income taxes and other assets | 22\u00a0 | 44\u00a0 | ||||||||
| Interest rate swaps | Deferred income taxes and other assets | 24\u00a0 | \u2014\u00a0 | ||||||||
| Total derivatives formally designated as hedging instruments | 121\u00a0 | 313\u00a0 | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||
Foreign exchange forwards and options | Prepaid expenses and other current assets | 10\u00a0 | 30\u00a0 | ||||||||
| Total derivatives not designated as hedging instruments | 10\u00a0 | 30\u00a0 | |||||||||
| TOTAL DERIVATIVE ASSETS | $ | 131\u00a0 | $ | 343\u00a0 |
| \u00a0 | DERIVATIVE LIABILITIES | ||||||||||
| BALANCE SHEET LOCATION | MAY 31, | ||||||||||
(Dollars in millions) | 2025 | 2024 | |||||||||
| Derivatives\u00a0formally designated as hedging instruments: | |||||||||||
| Foreign exchange forwards and options | Accrued\u00a0liabilities | $ | 216\u00a0 | $ | 110\u00a0 | ||||||
| Foreign exchange forwards and options | Deferred income taxes and other liabilities | 142\u00a0 | 5\u00a0 | ||||||||
| Interest rate swaps | Deferred income taxes and other liabilities | 3\u00a0 | 31\u00a0 | ||||||||
| Total derivatives formally designated as hedging instruments | 361\u00a0 | 146\u00a0 | |||||||||
| Derivatives not designated as hedging instruments: | |||||||||||
Foreign exchange forwards and options | Accrued liabilities | 10\u00a0 | 5\u00a0 | ||||||||
| Total derivatives not designated as hedging instruments | 10\u00a0 | 5\u00a0 | |||||||||
| TOTAL DERIVATIVE LIABILITIES | $ | 371\u00a0 | $ | 151\u00a0 |
(Dollars in millions) | AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES(1) | AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME(1) | |||||||||||||||||||||||||||
| YEAR ENDED MAY 31, | LOCATION OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME | YEAR ENDED MAY 31, | |||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||||||||||||||||||
Foreign exchange forwards and options | $ | (67) | $ | (66) | $ | 16\u00a0 | Revenues | $ | (93) | $ | (24) | $ | 26\u00a0 | ||||||||||||||||
Foreign exchange forwards and options | (55) | 231\u00a0 | 305\u00a0 | Cost of sales | 295\u00a0 | 294\u00a0 | 581\u00a0 | ||||||||||||||||||||||
Foreign exchange forwards and options | 1\u00a0 | 3\u00a0 | (1) | Demand creation expense | 1\u00a0 | 2\u00a0 | (5) | ||||||||||||||||||||||
Foreign exchange forwards and options | (6) | 102\u00a0 | 207\u00a0 | Other (income) expense, net | 145\u00a0 | 204\u00a0 | 338\u00a0 | ||||||||||||||||||||||
Interest rate swaps(2) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | Interest expense (income), net | (8) | (8) | (8) | ||||||||||||||||||||||
TOTAL DESIGNATED CASH FLOW HEDGES | $ | (127) | $ | 270\u00a0 | $ | 527\u00a0 | $ | 340\u00a0 | $ | 468\u00a0 | $ | 932\u00a0 |
AMOUNT OF GAIN (LOSS) RECOGNIZED IN INCOME ON DERIVATIVES | LOCATION OF GAIN (LOSS) RECOGNIZED IN INCOME ON DERIVATIVES | ||||||||||||||||
| YEAR ENDED MAY 31, | |||||||||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||
| Foreign exchange forwards and options and embedded derivatives | $ | 2\u00a0 | $ | 24\u00a0 | $ | 28\u00a0 |
(Dollars in millions) | AMOUNT OF GAIN (LOSS) RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES(1) | AMOUNT OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME(1) | |||||||||||||||||||||||||||
| YEAR ENDED MAY 31, | LOCATION OF GAIN (LOSS) RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) INTO INCOME | YEAR ENDED MAY 31, | |||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||
Derivatives designated as cash flow hedges: | |||||||||||||||||||||||||||||
Foreign exchange forwards and options | $ | (67) | $ | (66) | $ | 16\u00a0 | Revenues | $ | (93) | $ | (24) | $ | 26\u00a0 | ||||||||||||||||
Foreign exchange forwards and options | (55) | 231\u00a0 | 305\u00a0 | Cost of sales | 295\u00a0 | 294\u00a0 | 581\u00a0 | ||||||||||||||||||||||
Foreign exchange forwards and options | 1\u00a0 | 3\u00a0 | (1) | Demand creation expense | 1\u00a0 | 2\u00a0 | (5) | ||||||||||||||||||||||
Foreign exchange forwards and options | (6) | 102\u00a0 | 207\u00a0 | Other (income) expense, net | 145\u00a0 | 204\u00a0 | 338\u00a0 | ||||||||||||||||||||||
Interest rate swaps(2) | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | Interest expense (income), net | (8) | (8) | (8) | ||||||||||||||||||||||
TOTAL DESIGNATED CASH FLOW HEDGES | $ | (127) | $ | 270\u00a0 | $ | 527\u00a0 | $ | 340\u00a0 | $ | 468\u00a0 | $ | 932\u00a0 |
AMOUNT OF GAIN (LOSS) RECOGNIZED IN INCOME ON DERIVATIVES | LOCATION OF GAIN (LOSS) RECOGNIZED IN INCOME ON DERIVATIVES | ||||||||||||||||
| YEAR ENDED MAY 31, | |||||||||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||
| Foreign exchange forwards and options and embedded derivatives | $ | 2\u00a0 | $ | 24\u00a0 | $ | 28\u00a0 |
| NOTE\u00a013 \u2014 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL | ||||||||||||
| Balance at May 31, 2024 | $ | (256) | $ | 247\u00a0 | $ | 115\u00a0 | $ | (53) | $ | 53\u00a0 | |||||||
| Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive gains (losses) before reclassifications | 142\u00a0 | (132) | \u2014\u00a0 | (5) | 5\u00a0 | ||||||||||||
Reclassifications to net income of previously deferred (gains) losses(2) | \u2014\u00a0 | (322) | \u2014\u00a0 | 6 | (316) | ||||||||||||
| Total other comprehensive income (loss) | 142\u00a0 | (454) | \u2014\u00a0 | 1\u00a0 | (311) | ||||||||||||
| Balance at May 31, 2025 | $ | (114) | $ | (207) | $ | 115\u00a0 | $ | (52) | $ | (258) |
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL | ||||||||||||
| Balance at May 31, 2023 | $ | (253) | $ | 431\u00a0 | $ | 115\u00a0 | $ | (62) | $ | 231\u00a0 | |||||||
| Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive gains (losses) before reclassifications | (4) | 239\u00a0 | \u2014\u00a0 | 15\u00a0 | 250\u00a0 | ||||||||||||
Reclassifications to net income of previously deferred (gains) losses(2) | 1\u00a0 | (423) | \u2014\u00a0 | (6) | (428) | ||||||||||||
| Total other comprehensive income (loss) | (3) | (184) | \u2014\u00a0 | 9\u00a0 | (178) | ||||||||||||
| Balance at May 31, 2024 | $ | (256) | $ | 247\u00a0 | $ | 115\u00a0 | $ | (53) | $ | 53\u00a0 |
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL | ||||||||||||
| Balance at May 31, 2024 | $ | (256) | $ | 247\u00a0 | $ | 115\u00a0 | $ | (53) | $ | 53\u00a0 | |||||||
| Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive gains (losses) before reclassifications | 142\u00a0 | (132) | \u2014\u00a0 | (5) | 5\u00a0 | ||||||||||||
Reclassifications to net income of previously deferred (gains) losses(2) | \u2014\u00a0 | (322) | \u2014\u00a0 | 6 | (316) | ||||||||||||
| Total other comprehensive income (loss) | 142\u00a0 | (454) | \u2014\u00a0 | 1\u00a0 | (311) | ||||||||||||
| Balance at May 31, 2025 | $ | (114) | $ | (207) | $ | 115\u00a0 | $ | (52) | $ | (258) |
(Dollars in millions) | FOREIGN CURRENCY TRANSLATION ADJUSTMENT(1) | CASH FLOW HEDGES | NET INVESTMENT HEDGES(1) | OTHER | TOTAL | ||||||||||||
| Balance at May 31, 2023 | $ | (253) | $ | 431\u00a0 | $ | 115\u00a0 | $ | (62) | $ | 231\u00a0 | |||||||
| Other comprehensive income (loss): | |||||||||||||||||
Other comprehensive gains (losses) before reclassifications | (4) | 239\u00a0 | \u2014\u00a0 | 15\u00a0 | 250\u00a0 | ||||||||||||
Reclassifications to net income of previously deferred (gains) losses(2) | 1\u00a0 | (423) | \u2014\u00a0 | (6) | (428) | ||||||||||||
| Total other comprehensive income (loss) | (3) | (184) | \u2014\u00a0 | 9\u00a0 | (178) | ||||||||||||
| Balance at May 31, 2024 | $ | (256) | $ | 247\u00a0 | $ | 115\u00a0 | $ | (53) | $ | 53\u00a0 |
| NOTE\u00a014 \u2014 REVENUES |
| YEAR ENDED MAY 31, 2025 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Footwear | $ | 12,684\u00a0 | $ | 7,569\u00a0 | $ | 4,805\u00a0 | $ | 4,452\u00a0 | $ | \u2014\u00a0 | $ | 29,510\u00a0 | $ | 1,457\u00a0 | $ | \u2014\u00a0 | $ | 30,967\u00a0 | |||||||||||
| Apparel | 5,837\u00a0 | 3,971\u00a0 | 1,616\u00a0 | 1,541\u00a0 | \u2014\u00a0 | 12,965\u00a0 | 80\u00a0 | \u2014\u00a0 | 13,045\u00a0 | ||||||||||||||||||||
| Equipment | 1,051\u00a0 | 717\u00a0 | 165\u00a0 | 258\u00a0 | \u2014\u00a0 | 2,191\u00a0 | 32\u00a0 | \u2014\u00a0 | 2,223\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 48\u00a0 | 48\u00a0 | 123\u00a0 | (97) | 74\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 10,484\u00a0 | $ | 8,022\u00a0 | $ | 3,699\u00a0 | $ | 3,678\u00a0 | $ | \u2014\u00a0 | $ | 25,883\u00a0 | $ | 875\u00a0 | $ | \u2014\u00a0 | $ | 26,758\u00a0 | |||||||||||
| Sales through Direct to Consumer | 9,088\u00a0 | 4,235\u00a0 | 2,887\u00a0 | 2,573\u00a0 | \u2014\u00a0 | 18,783\u00a0 | 694\u00a0 | \u2014\u00a0 | 19,477\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 48\u00a0 | 48\u00a0 | 123\u00a0 | (97) | 74\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 |
| YEAR ENDED MAY 31, 2024 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Footwear | $ | 14,537\u00a0 | $ | 8,473\u00a0 | $ | 5,552\u00a0 | $ | 4,865\u00a0 | $ | \u2014\u00a0 | $ | 33,427\u00a0 | $ | 1,800\u00a0 | $ | \u2014\u00a0 | $ | 35,227\u00a0 | |||||||||||
| Apparel | 5,953\u00a0 | 4,380\u00a0 | 1,828\u00a0 | 1,614\u00a0 | \u2014\u00a0 | 13,775\u00a0 | 93\u00a0 | \u2014\u00a0 | 13,868\u00a0 | ||||||||||||||||||||
| Equipment | 906\u00a0 | 754\u00a0 | 165\u00a0 | 250\u00a0 | \u2014\u00a0 | 2,075\u00a0 | 37\u00a0 | \u2014\u00a0 | 2,112\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 45\u00a0 | 45\u00a0 | 152\u00a0 | (42) | 155\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 11,004\u00a0 | $ | 8,562\u00a0 | $ | 4,262\u00a0 | $ | 3,930\u00a0 | $ | \u2014\u00a0 | $ | 27,758\u00a0 | $ | 1,098\u00a0 | $ | \u2014\u00a0 | $ | 28,856\u00a0 | |||||||||||
| Sales through Direct to Consumer | 10,392\u00a0 | 5,045\u00a0 | 3,283\u00a0 | 2,799\u00a0 | \u2014\u00a0 | 21,519\u00a0 | 832\u00a0 | \u2014\u00a0 | 22,351\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 45\u00a0 | 45\u00a0 | 152\u00a0 | (42) | 155\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 |
| YEAR ENDED MAY 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 | $ | 14,897\u00a0 | $ | 8,260\u00a0 | $ | 5,435\u00a0 | $ | 4,543\u00a0 | $ | \u2014\u00a0 | $ | 33,135\u00a0 | $ | 2,155\u00a0 | $ | \u2014\u00a0 | $ | 35,290\u00a0 | |||||||||||
| Apparel | 5,947\u00a0 | 4,566\u00a0 | 1,666\u00a0 | 1,664\u00a0 | \u2014\u00a0 | 13,843\u00a0 | 90\u00a0 | \u2014\u00a0 | 13,933\u00a0 | ||||||||||||||||||||
| Equipment | 764\u00a0 | 592\u00a0 | 147\u00a0 | 224\u00a0 | \u2014\u00a0 | 1,727\u00a0 | 28\u00a0 | \u2014\u00a0 | 1,755\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 58\u00a0 | 58\u00a0 | 154\u00a0 | 27\u00a0 | 239\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 11,273\u00a0 | $ | 8,522\u00a0 | $ | 3,866\u00a0 | $ | 3,736\u00a0 | $ | \u2014\u00a0 | $ | 27,397\u00a0 | $ | 1,299\u00a0 | $ | \u2014\u00a0 | $ | 28,696\u00a0 | |||||||||||
| Sales through Direct to Consumer | 10,335\u00a0 | 4,896\u00a0 | 3,382\u00a0 | 2,695\u00a0 | \u2014\u00a0 | 21,308\u00a0 | 974\u00a0 | \u2014\u00a0 | 22,282\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 58\u00a0 | 58\u00a0 | 154\u00a0 | 27\u00a0 | 239\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 |
| YEAR ENDED MAY 31, 2025 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Footwear | $ | 12,684\u00a0 | $ | 7,569\u00a0 | $ | 4,805\u00a0 | $ | 4,452\u00a0 | $ | \u2014\u00a0 | $ | 29,510\u00a0 | $ | 1,457\u00a0 | $ | \u2014\u00a0 | $ | 30,967\u00a0 | |||||||||||
| Apparel | 5,837\u00a0 | 3,971\u00a0 | 1,616\u00a0 | 1,541\u00a0 | \u2014\u00a0 | 12,965\u00a0 | 80\u00a0 | \u2014\u00a0 | 13,045\u00a0 | ||||||||||||||||||||
| Equipment | 1,051\u00a0 | 717\u00a0 | 165\u00a0 | 258\u00a0 | \u2014\u00a0 | 2,191\u00a0 | 32\u00a0 | \u2014\u00a0 | 2,223\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 48\u00a0 | 48\u00a0 | 123\u00a0 | (97) | 74\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 10,484\u00a0 | $ | 8,022\u00a0 | $ | 3,699\u00a0 | $ | 3,678\u00a0 | $ | \u2014\u00a0 | $ | 25,883\u00a0 | $ | 875\u00a0 | $ | \u2014\u00a0 | $ | 26,758\u00a0 | |||||||||||
| Sales through Direct to Consumer | 9,088\u00a0 | 4,235\u00a0 | 2,887\u00a0 | 2,573\u00a0 | \u2014\u00a0 | 18,783\u00a0 | 694\u00a0 | \u2014\u00a0 | 19,477\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 48\u00a0 | 48\u00a0 | 123\u00a0 | (97) | 74\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 |
| YEAR ENDED MAY 31, 2024 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Footwear | $ | 14,537\u00a0 | $ | 8,473\u00a0 | $ | 5,552\u00a0 | $ | 4,865\u00a0 | $ | \u2014\u00a0 | $ | 33,427\u00a0 | $ | 1,800\u00a0 | $ | \u2014\u00a0 | $ | 35,227\u00a0 | |||||||||||
| Apparel | 5,953\u00a0 | 4,380\u00a0 | 1,828\u00a0 | 1,614\u00a0 | \u2014\u00a0 | 13,775\u00a0 | 93\u00a0 | \u2014\u00a0 | 13,868\u00a0 | ||||||||||||||||||||
| Equipment | 906\u00a0 | 754\u00a0 | 165\u00a0 | 250\u00a0 | \u2014\u00a0 | 2,075\u00a0 | 37\u00a0 | \u2014\u00a0 | 2,112\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 45\u00a0 | 45\u00a0 | 152\u00a0 | (42) | 155\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 11,004\u00a0 | $ | 8,562\u00a0 | $ | 4,262\u00a0 | $ | 3,930\u00a0 | $ | \u2014\u00a0 | $ | 27,758\u00a0 | $ | 1,098\u00a0 | $ | \u2014\u00a0 | $ | 28,856\u00a0 | |||||||||||
| Sales through Direct to Consumer | 10,392\u00a0 | 5,045\u00a0 | 3,283\u00a0 | 2,799\u00a0 | \u2014\u00a0 | 21,519\u00a0 | 832\u00a0 | \u2014\u00a0 | 22,351\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 45\u00a0 | 45\u00a0 | 152\u00a0 | (42) | 155\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 |
| YEAR ENDED MAY 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 | $ | 14,897\u00a0 | $ | 8,260\u00a0 | $ | 5,435\u00a0 | $ | 4,543\u00a0 | $ | \u2014\u00a0 | $ | 33,135\u00a0 | $ | 2,155\u00a0 | $ | \u2014\u00a0 | $ | 35,290\u00a0 | |||||||||||
| Apparel | 5,947\u00a0 | 4,566\u00a0 | 1,666\u00a0 | 1,664\u00a0 | \u2014\u00a0 | 13,843\u00a0 | 90\u00a0 | \u2014\u00a0 | 13,933\u00a0 | ||||||||||||||||||||
| Equipment | 764\u00a0 | 592\u00a0 | 147\u00a0 | 224\u00a0 | \u2014\u00a0 | 1,727\u00a0 | 28\u00a0 | \u2014\u00a0 | 1,755\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 58\u00a0 | 58\u00a0 | 154\u00a0 | 27\u00a0 | 239\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 | |||||||||||
| Revenues by: | |||||||||||||||||||||||||||||
| Sales to Wholesale Customers | $ | 11,273\u00a0 | $ | 8,522\u00a0 | $ | 3,866\u00a0 | $ | 3,736\u00a0 | $ | \u2014\u00a0 | $ | 27,397\u00a0 | $ | 1,299\u00a0 | $ | \u2014\u00a0 | $ | 28,696\u00a0 | |||||||||||
| Sales through Direct to Consumer | 10,335\u00a0 | 4,896\u00a0 | 3,382\u00a0 | 2,695\u00a0 | \u2014\u00a0 | 21,308\u00a0 | 974\u00a0 | \u2014\u00a0 | 22,282\u00a0 | ||||||||||||||||||||
| Other | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | \u2014\u00a0 | 58\u00a0 | 58\u00a0 | 154\u00a0 | 27\u00a0 | 239\u00a0 | ||||||||||||||||||||
| TOTAL REVENUES | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 |
| NOTE\u00a015 \u2014 SEGMENT INFORMATION |
| YEAR ENDED MAY 31, 2025 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
Revenues | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 | |||||||||||
Cost of Sales | 11,056\u00a0 | 6,967\u00a0 | 3,558\u00a0 | 3,502\u00a0 | 634\u00a0 | 25,717\u00a0 | 868\u00a0 | (66) | 26,519\u00a0 | ||||||||||||||||||||
Gross profit | 8,516\u00a0 | 5,290\u00a0 | 3,028\u00a0 | 2,749\u00a0 | (586) | 18,997\u00a0 | 824\u00a0 | (31) | 19,790\u00a0 | ||||||||||||||||||||
Demand creation expense | 1,633\u00a0 | 1,222\u00a0 | 529\u00a0 | 421\u00a0 | 716\u00a0 | 4,521\u00a0 | 156\u00a0 | 12\u00a0 | 4,689\u00a0 | ||||||||||||||||||||
Operating overhead expense | 2,150\u00a0 | 1,479\u00a0 | 973\u00a0 | 804\u00a0 | 3,401\u00a0 | 8,807\u00a0 | 430\u00a0 | 2,162\u00a0 | 11,399\u00a0 | ||||||||||||||||||||
Total selling and administrative expense | 3,783\u00a0 | 2,701\u00a0 | 1,502\u00a0 | 1,225\u00a0 | 4,117\u00a0 | 13,328\u00a0 | 586\u00a0 | 2,174\u00a0 | 16,088\u00a0 | ||||||||||||||||||||
Other segment items(1) | (2) | 14\u00a0 | (76) | (3) | (4) | (71) | (2) | (3) | (76) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 4,735\u00a0 | $ | 2,575\u00a0 | $ | 1,602\u00a0 | $ | 1,527\u00a0 | $ | (4,699) | $ | 5,740\u00a0 | $ | 240\u00a0 | $ | (2,202) | |||||||||||||
Interest expense (income), net | (107) | ||||||||||||||||||||||||||||
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 3,885\u00a0 | |||||||||||||||||||||||||||
Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 157\u00a0 | 143\u00a0 | 49\u00a0 | 50\u00a0 | 237\u00a0 | 636\u00a0 | 14\u00a0 | 125\u00a0 | $ | 775\u00a0 | ||||||||||||||||||
\u00a0\u00a0Inventories | $ | 3,198\u00a0 | 2,042\u00a0 | 951\u00a0 | 905\u00a0 | 148\u00a0 | 7,244\u00a0 | 272\u00a0 | (27) | $ | 7,489\u00a0 |
| YEAR ENDED MAY 31, 2024 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
Revenues | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 | |||||||||||
Cost of Sales | 11,899\u00a0 | 7,589\u00a0 | 3,761\u00a0 | 3,639\u00a0 | 602\u00a0 | 27,490\u00a0 | 989\u00a0 | (4) | 28,475\u00a0 | ||||||||||||||||||||
Gross profit | 9,497\u00a0 | 6,018\u00a0 | 3,784\u00a0 | 3,090\u00a0 | (557) | 21,832\u00a0 | 1,093\u00a0 | (38) | 22,887\u00a0 | ||||||||||||||||||||
Demand creation expense | 1,495\u00a0 | 1,114\u00a0 | 519\u00a0 | 407\u00a0 | 596\u00a0 | 4,131\u00a0 | 140\u00a0 | 14\u00a0 | 4,285\u00a0 | ||||||||||||||||||||
Operating overhead expense | 2,189\u00a0 | 1,517\u00a0 | 1,019\u00a0 | 801\u00a0 | 3,534\u00a0 | 9,060\u00a0 | 485\u00a0 | 2,746\u00a0 | 12,291\u00a0 | ||||||||||||||||||||
Total selling and administrative expense | 3,684\u00a0 | 2,631\u00a0 | 1,538\u00a0 | 1,208\u00a0 | 4,130\u00a0 | 13,191\u00a0 | 625\u00a0 | 2,760\u00a0 | 16,576\u00a0 | ||||||||||||||||||||
Other segment items(1) | (9) | (1) | (63) | (3) | 33\u00a0 | (43) | (6) | (179) | (228) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 5,822\u00a0 | $ | 3,388\u00a0 | $ | 2,309\u00a0 | $ | 1,885\u00a0 | $ | (4,720) | $ | 8,684\u00a0 | $ | 474\u00a0 | $ | (2,619) | |||||||||||||
Interest expense (income), net | (161) | ||||||||||||||||||||||||||||
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 6,700\u00a0 | |||||||||||||||||||||||||||
Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 152\u00a0 | 146\u00a0 | 56\u00a0 | 51\u00a0 | 236\u00a0 | 641\u00a0 | 17\u00a0 | 138\u00a0 | $ | 796\u00a0 | ||||||||||||||||||
| \u00a0\u00a0Inventories | $ | 3,134\u00a0 | 2,028\u00a0 | 1,070\u00a0 | 810\u00a0 | 166\u00a0 | 7,208\u00a0 | 296\u00a0 | 15\u00a0 | $ | 7,519\u00a0 |
| YEAR ENDED MAY 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 | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 | |||||||||||
| Cost of Sales | 12,497\u00a0 | 7,340\u00a0 | 3,552\u00a0 | 3,337\u00a0 | 516\u00a0 | 27,242\u00a0 | 1,121\u00a0 | 562\u00a0 | 28,925\u00a0 | ||||||||||||||||||||
| Gross profit | 9,111\u00a0 | 6,078\u00a0 | 3,696\u00a0 | 3,094\u00a0 | (458) | 21,521\u00a0 | 1,306\u00a0 | (535) | 22,292\u00a0 | ||||||||||||||||||||
| Demand creation expense | 1,455\u00a0 | 1,050\u00a0 | 499\u00a0 | 373\u00a0 | 511\u00a0 | 3,888\u00a0 | 138\u00a0 | 34\u00a0 | 4,060\u00a0 | ||||||||||||||||||||
| Operating overhead expense | 2,207\u00a0 | 1,500\u00a0 | 1,012\u00a0 | 789\u00a0 | 3,881\u00a0 | 9,389\u00a0 | 499\u00a0 | 2,429\u00a0 | 12,317\u00a0 | ||||||||||||||||||||
| Total selling and administrative expense | 3,662\u00a0 | 2,550\u00a0 | 1,511\u00a0 | 1,162\u00a0 | 4,392\u00a0 | 13,277\u00a0 | 637\u00a0 | 2,463\u00a0 | 16,377\u00a0 | ||||||||||||||||||||
Other segment items(1) | (5) | (3) | (98) | \u2014\u00a0 | (9) | (115) | (7) | (158) | (280) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 5,454\u00a0 | $ | 3,531\u00a0 | $ | 2,283\u00a0 | $ | 1,932\u00a0 | $ | (4,841) | $ | 8,359\u00a0 | $ | 676\u00a0 | $ | (2,840) | |||||||||||||
| Interest expense (income), net | (6) | ||||||||||||||||||||||||||||
| TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 6,201\u00a0 | |||||||||||||||||||||||||||
| Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 128\u00a0 | 120\u00a0 | 54\u00a0 | 42\u00a0 | 211\u00a0 | 555\u00a0 | 17\u00a0 | 131\u00a0 | $ | 703\u00a0 | ||||||||||||||||||
\u00a0\u00a0Inventories | $ | 3,806\u00a0 | 2,167\u00a0 | 973\u00a0 | 894\u00a0 | 232\u00a0 | 8,072\u00a0 | 305\u00a0 | 77\u00a0 | $ | 8,454\u00a0 |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| United States | $ | 4,467\u00a0 | $ | 4,837\u00a0 | ||||
| Belgium | 774\u00a0 | 757\u00a0 | ||||||
| China | 488\u00a0 | 501\u00a0 | ||||||
United Kingdom | 422\u00a0 | 324\u00a0 | ||||||
Other | 1,389\u00a0 | 1,299\u00a0 | ||||||
TOTAL LONG-LIVED ASSETS | $ | 7,540\u00a0 | $ | 7,718\u00a0 |
| YEAR ENDED MAY 31, 2025 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
Revenues | $ | 19,572\u00a0 | $ | 12,257\u00a0 | $ | 6,586\u00a0 | $ | 6,251\u00a0 | $ | 48\u00a0 | $ | 44,714\u00a0 | $ | 1,692\u00a0 | $ | (97) | $ | 46,309\u00a0 | |||||||||||
Cost of Sales | 11,056\u00a0 | 6,967\u00a0 | 3,558\u00a0 | 3,502\u00a0 | 634\u00a0 | 25,717\u00a0 | 868\u00a0 | (66) | 26,519\u00a0 | ||||||||||||||||||||
Gross profit | 8,516\u00a0 | 5,290\u00a0 | 3,028\u00a0 | 2,749\u00a0 | (586) | 18,997\u00a0 | 824\u00a0 | (31) | 19,790\u00a0 | ||||||||||||||||||||
Demand creation expense | 1,633\u00a0 | 1,222\u00a0 | 529\u00a0 | 421\u00a0 | 716\u00a0 | 4,521\u00a0 | 156\u00a0 | 12\u00a0 | 4,689\u00a0 | ||||||||||||||||||||
Operating overhead expense | 2,150\u00a0 | 1,479\u00a0 | 973\u00a0 | 804\u00a0 | 3,401\u00a0 | 8,807\u00a0 | 430\u00a0 | 2,162\u00a0 | 11,399\u00a0 | ||||||||||||||||||||
Total selling and administrative expense | 3,783\u00a0 | 2,701\u00a0 | 1,502\u00a0 | 1,225\u00a0 | 4,117\u00a0 | 13,328\u00a0 | 586\u00a0 | 2,174\u00a0 | 16,088\u00a0 | ||||||||||||||||||||
Other segment items(1) | (2) | 14\u00a0 | (76) | (3) | (4) | (71) | (2) | (3) | (76) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 4,735\u00a0 | $ | 2,575\u00a0 | $ | 1,602\u00a0 | $ | 1,527\u00a0 | $ | (4,699) | $ | 5,740\u00a0 | $ | 240\u00a0 | $ | (2,202) | |||||||||||||
Interest expense (income), net | (107) | ||||||||||||||||||||||||||||
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 3,885\u00a0 | |||||||||||||||||||||||||||
Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 157\u00a0 | 143\u00a0 | 49\u00a0 | 50\u00a0 | 237\u00a0 | 636\u00a0 | 14\u00a0 | 125\u00a0 | $ | 775\u00a0 | ||||||||||||||||||
\u00a0\u00a0Inventories | $ | 3,198\u00a0 | 2,042\u00a0 | 951\u00a0 | 905\u00a0 | 148\u00a0 | 7,244\u00a0 | 272\u00a0 | (27) | $ | 7,489\u00a0 |
| YEAR ENDED MAY 31, 2024 | |||||||||||||||||||||||||||||
(Dollars in millions) | NORTH AMERICA | EUROPE, MIDDLE EAST & AFRICA | GREATER CHINA | ASIA PACIFIC & LATIN AMERICA | GLOBAL BRAND DIVISIONS | TOTAL NIKE BRAND | CONVERSE | CORPORATE | TOTAL NIKE, INC. | ||||||||||||||||||||
Revenues | $ | 21,396\u00a0 | $ | 13,607\u00a0 | $ | 7,545\u00a0 | $ | 6,729\u00a0 | $ | 45\u00a0 | $ | 49,322\u00a0 | $ | 2,082\u00a0 | $ | (42) | $ | 51,362\u00a0 | |||||||||||
Cost of Sales | 11,899\u00a0 | 7,589\u00a0 | 3,761\u00a0 | 3,639\u00a0 | 602\u00a0 | 27,490\u00a0 | 989\u00a0 | (4) | 28,475\u00a0 | ||||||||||||||||||||
Gross profit | 9,497\u00a0 | 6,018\u00a0 | 3,784\u00a0 | 3,090\u00a0 | (557) | 21,832\u00a0 | 1,093\u00a0 | (38) | 22,887\u00a0 | ||||||||||||||||||||
Demand creation expense | 1,495\u00a0 | 1,114\u00a0 | 519\u00a0 | 407\u00a0 | 596\u00a0 | 4,131\u00a0 | 140\u00a0 | 14\u00a0 | 4,285\u00a0 | ||||||||||||||||||||
Operating overhead expense | 2,189\u00a0 | 1,517\u00a0 | 1,019\u00a0 | 801\u00a0 | 3,534\u00a0 | 9,060\u00a0 | 485\u00a0 | 2,746\u00a0 | 12,291\u00a0 | ||||||||||||||||||||
Total selling and administrative expense | 3,684\u00a0 | 2,631\u00a0 | 1,538\u00a0 | 1,208\u00a0 | 4,130\u00a0 | 13,191\u00a0 | 625\u00a0 | 2,760\u00a0 | 16,576\u00a0 | ||||||||||||||||||||
Other segment items(1) | (9) | (1) | (63) | (3) | 33\u00a0 | (43) | (6) | (179) | (228) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 5,822\u00a0 | $ | 3,388\u00a0 | $ | 2,309\u00a0 | $ | 1,885\u00a0 | $ | (4,720) | $ | 8,684\u00a0 | $ | 474\u00a0 | $ | (2,619) | |||||||||||||
Interest expense (income), net | (161) | ||||||||||||||||||||||||||||
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 6,700\u00a0 | |||||||||||||||||||||||||||
Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 152\u00a0 | 146\u00a0 | 56\u00a0 | 51\u00a0 | 236\u00a0 | 641\u00a0 | 17\u00a0 | 138\u00a0 | $ | 796\u00a0 | ||||||||||||||||||
| \u00a0\u00a0Inventories | $ | 3,134\u00a0 | 2,028\u00a0 | 1,070\u00a0 | 810\u00a0 | 166\u00a0 | 7,208\u00a0 | 296\u00a0 | 15\u00a0 | $ | 7,519\u00a0 |
| YEAR ENDED MAY 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 | $ | 21,608\u00a0 | $ | 13,418\u00a0 | $ | 7,248\u00a0 | $ | 6,431\u00a0 | $ | 58\u00a0 | $ | 48,763\u00a0 | $ | 2,427\u00a0 | $ | 27\u00a0 | $ | 51,217\u00a0 | |||||||||||
| Cost of Sales | 12,497\u00a0 | 7,340\u00a0 | 3,552\u00a0 | 3,337\u00a0 | 516\u00a0 | 27,242\u00a0 | 1,121\u00a0 | 562\u00a0 | 28,925\u00a0 | ||||||||||||||||||||
| Gross profit | 9,111\u00a0 | 6,078\u00a0 | 3,696\u00a0 | 3,094\u00a0 | (458) | 21,521\u00a0 | 1,306\u00a0 | (535) | 22,292\u00a0 | ||||||||||||||||||||
| Demand creation expense | 1,455\u00a0 | 1,050\u00a0 | 499\u00a0 | 373\u00a0 | 511\u00a0 | 3,888\u00a0 | 138\u00a0 | 34\u00a0 | 4,060\u00a0 | ||||||||||||||||||||
| Operating overhead expense | 2,207\u00a0 | 1,500\u00a0 | 1,012\u00a0 | 789\u00a0 | 3,881\u00a0 | 9,389\u00a0 | 499\u00a0 | 2,429\u00a0 | 12,317\u00a0 | ||||||||||||||||||||
| Total selling and administrative expense | 3,662\u00a0 | 2,550\u00a0 | 1,511\u00a0 | 1,162\u00a0 | 4,392\u00a0 | 13,277\u00a0 | 637\u00a0 | 2,463\u00a0 | 16,377\u00a0 | ||||||||||||||||||||
Other segment items(1) | (5) | (3) | (98) | \u2014\u00a0 | (9) | (115) | (7) | (158) | (280) | ||||||||||||||||||||
EARNINGS (LOSS) BEFORE INTEREST AND TAXES | $ | 5,454\u00a0 | $ | 3,531\u00a0 | $ | 2,283\u00a0 | $ | 1,932\u00a0 | $ | (4,841) | $ | 8,359\u00a0 | $ | 676\u00a0 | $ | (2,840) | |||||||||||||
| Interest expense (income), net | (6) | ||||||||||||||||||||||||||||
| TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 6,201\u00a0 | |||||||||||||||||||||||||||
| Supplemental information: | |||||||||||||||||||||||||||||
\u00a0\u00a0Depreciation and amortization(2) | $ | 128\u00a0 | 120\u00a0 | 54\u00a0 | 42\u00a0 | 211\u00a0 | 555\u00a0 | 17\u00a0 | 131\u00a0 | $ | 703\u00a0 | ||||||||||||||||||
\u00a0\u00a0Inventories | $ | 3,806\u00a0 | 2,167\u00a0 | 973\u00a0 | 894\u00a0 | 232\u00a0 | 8,072\u00a0 | 305\u00a0 | 77\u00a0 | $ | 8,454\u00a0 |
| MAY 31, | ||||||||
(Dollars in millions) | 2025 | 2024 | ||||||
| United States | $ | 4,467\u00a0 | $ | 4,837\u00a0 | ||||
| Belgium | 774\u00a0 | 757\u00a0 | ||||||
| China | 488\u00a0 | 501\u00a0 | ||||||
United Kingdom | 422\u00a0 | 324\u00a0 | ||||||
Other | 1,389\u00a0 | 1,299\u00a0 | ||||||
TOTAL LONG-LIVED ASSETS | $ | 7,540\u00a0 | $ | 7,718\u00a0 |
| NOTE\u00a016 \u2014 COMMITMENTS AND CONTINGENCIES |
| NOTE\u00a017 \u2014 LEASES |
(Dollars in millions) | AS OF MAY 31, 2025(1) | ||||
| Fiscal 2026 | $ | 565\u00a0 | |||
| Fiscal 2027 | 575\u00a0 | ||||
| Fiscal 2028 | 487\u00a0 | ||||
| Fiscal 2029 | 437\u00a0 | ||||
| Fiscal 2030 | 389\u00a0 | ||||
| Thereafter | 885\u00a0 | ||||
| Total undiscounted future cash flows related to lease payments | $ | 3,338\u00a0 | |||
| Less interest | 286\u00a0 | ||||
| PRESENT VALUE OF LEASE LIABILITIES | $ | 3,052\u00a0 |
| AS OF MAY 31, | ||||||||
| 2025 | 2024 | |||||||
| Weighted-average remaining lease term (in years) | 6.6 | 6.9 | ||||||
| Weighted-average discount rate | 3.1\u00a0 | % | 2.9\u00a0 | % |
| YEAR ENDED MAY 31, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash flows from operating leases | $ | 647\u00a0 | $ | 613\u00a0 | $ | 575\u00a0 | |||||
| Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ | 607\u00a0 | $ | 458\u00a0 | $ | 602\u00a0 |
(Dollars in millions) | AS OF MAY 31, 2025(1) | ||||
| Fiscal 2026 | $ | 565\u00a0 | |||
| Fiscal 2027 | 575\u00a0 | ||||
| Fiscal 2028 | 487\u00a0 | ||||
| Fiscal 2029 | 437\u00a0 | ||||
| Fiscal 2030 | 389\u00a0 | ||||
| Thereafter | 885\u00a0 | ||||
| Total undiscounted future cash flows related to lease payments | $ | 3,338\u00a0 | |||
| Less interest | 286\u00a0 | ||||
| PRESENT VALUE OF LEASE LIABILITIES | $ | 3,052\u00a0 |
| AS OF MAY 31, | ||||||||
| 2025 | 2024 | |||||||
| Weighted-average remaining lease term (in years) | 6.6 | 6.9 | ||||||
| Weighted-average discount rate | 3.1\u00a0 | % | 2.9\u00a0 | % |
| YEAR ENDED MAY 31, | |||||||||||
(Dollars in millions) | 2025 | 2024 | 2023 | ||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash flows from operating leases | $ | 647\u00a0 | $ | 613\u00a0 | $ | 575\u00a0 | |||||
| Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ | 607\u00a0 | $ | 458\u00a0 | $ | 602\u00a0 |
| NOTE\u00a018 \u2014 RESTRUCTURING |
| NOTE\u00a019 \u2014 SUPPLIER FINANCE PROGRAMS |
(Dollars in millions) | |||||
Confirmed obligations outstanding as of May 31, 2024 | $ | 840\u00a0 | |||
Invoices confirmed during the year | 11,741\u00a0 | ||||
Confirmed invoices paid during the year | (11,480) | ||||
Confirmed obligations outstanding as of May 31, 2025 | $ | 1,101\u00a0 |
(Dollars in millions) | |||||
Confirmed obligations outstanding as of May 31, 2024 | $ | 840\u00a0 | |||
Invoices confirmed during the year | 11,741\u00a0 | ||||
Confirmed invoices paid during the year | (11,480) | ||||
Confirmed obligations outstanding as of May 31, 2025 | $ | 1,101\u00a0 |