NIKE (NKE) 10-Q 6 Oct 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Aug. 31, 2017	Oct. 03, 2017
Entity Listings [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 31, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	NKE
Entity Registrant Name	NIKE INC
Entity Central Index Key	320,187
Current Fiscal Year End Date	--05-31
Entity Filer Category	Large Accelerated Filer
Class A Convertible Common Stock
Entity Listings [Line Items]
Entity Common Stock Shares Outstanding (In Shares)		329,245,752
Class B Common Stock
Entity Listings [Line Items]
Entity Common Stock Shares Outstanding (In Shares)		1,302,272,700

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Current assets:
Cash and equivalents	$ 3,413	$ 3,808
Short-term investments	2,106	2,371
Accounts receivable, net	3,871	3,677
Inventories	5,211	5,055
Prepaid expenses and other current assets	1,591	1,150
Total current assets	16,192	16,061
Property, plant and equipment, net	4,086	3,989
Identifiable intangible assets, net	283	283
Goodwill	139	139
Deferred income taxes and other assets	2,947	2,787
TOTAL ASSETS	23,647	23,259
Current liabilities:
Current portion of long-term debt	7	6
Notes payable	335	325
Accounts payable	2,116	2,048
Accrued liabilities	3,501	3,011
Income taxes payable	97	84
Total current liabilities	6,056	5,474
Long-term debt	3,472	3,471
Deferred income taxes and other liabilities	2,126	1,907
Commitments and contingencies (Note 12)
Redeemable preferred stock	0	0
Shareholders’ equity:
Capital in excess of stated value	8,817	8,638
Accumulated other comprehensive loss	(586)	(213)
Retained earnings	3,759	3,979
Total shareholders’ equity	11,993	12,407
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	23,647	23,259
Class A Convertible Common Stock
Shareholders’ equity:
Common stock at stated value: Class A convertible - 329 and 329 shares outstanding, Class B - 1,308 and 1,314 shares outstanding	0	0
Class B Common Stock
Shareholders’ equity:
Common stock at stated value: Class A convertible - 329 and 329 shares outstanding, Class B - 1,308 and 1,314 shares outstanding	$ 3	$ 3

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Aug. 31, 2017	May 31, 2017
Class A Convertible Common Stock
Common Stock, shares outstanding	329	329
Class B Common Stock
Common Stock, shares outstanding	1,308	1,314

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Income Statement [Abstract]
Revenues	$ 9,070	$ 9,061
Cost of sales	5,108	4,938
Gross profit	3,962	4,123
Demand creation expense	855	1,041
Operating overhead expense	2,001	1,856
Total selling and administrative expense	2,856	2,897
Interest expense (income), net	16	7
Other expense (income), net	18	(62)
Income before income taxes	1,072	1,281
Income tax expense	122	32
NET INCOME	$ 950	$ 1,249
Earnings per common share:
Basic (in dollars per share)	$ 0.58	$ 0.75
Diluted (in dollars per share)	0.57	0.73
Dividends declared per common share (in dollars per share)	$ 0.18	$ 0.16

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 950	$ 1,249
Other comprehensive income (loss), net of tax:
Change in net foreign currency translation adjustment	22	3
Change in net gains (losses) on cash flow hedges	(395)	(240)
Change in net gains (losses) on other	0	4
Total other comprehensive income (loss), net of tax	(373)	(233)
TOTAL COMPREHENSIVE INCOME	$ 577	$ 1,016

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Cash provided by operations:
Net income	$ 950	$ 1,249
Income charges (credits) not affecting cash:
Depreciation	179	173
Deferred income taxes	(59)	(50)
Stock-based compensation	50	57
Amortization and other	6	7
Net foreign currency adjustments	(19)	(61)
Changes in certain working capital components and other assets and liabilities:
(Increase) in accounts receivable	(101)	(284)
(Increase) in inventories	(96)	(62)
(Increase) in prepaid expenses and other current assets	(543)	(63)
Increase (decrease) in accounts payable, accrued liabilities and income taxes payable	208	(178)
Cash provided by operations	575	788
Cash used by investing activities:
Purchases of short-term investments	(1,663)	(1,279)
Maturities of short-term investments	1,403	562
Sales of short-term investments	518	960
Additions to property, plant and equipment	(270)	(277)
Other investing activities	0	(42)
Cash used by investing activities	(12)	(76)
Cash used by financing activities:
Long-term debt payments, including current portion	(1)	(2)
Increase in notes payable	9	21
Payments on capital lease and other financing obligations	(6)	(2)
Proceeds from exercise of stock options and other stock issuances	158	112
Repurchase of common stock	(804)	(1,054)
Dividends — common and preferred	(300)	(269)
Tax payments for net share settlement of equity awards	(54)	(8)
Cash used by financing activities	(998)	(1,202)
Effect of exchange rate changes on cash and equivalents	40	11
Net decrease in cash and equivalents	(395)	(479)
Cash and equivalents, beginning of period	3,808	3,138
CASH AND EQUIVALENTS, END OF PERIOD	3,413	2,659
Supplemental disclosure of cash flow information:
Non-cash additions to property, plant and equipment	98	96
Dividends declared and not paid	$ 295	$ 272

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 — Summary of Significant Accounting Policies B asis of Presentation The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”) and reflect all normal 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, 2017 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. The results of operations for the three months ended August 31, 2017 are not necessarily indicative of results to be expected for the entire year. Reclassifications Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation, including reclassified geographic operating segment data to reflect the changes in the Company’s operating structure, which became effective on June 1, 2017. Refer to Note 11 — Operating Segments for additional information. Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which changes how companies account for certain aspects of share-based payment awards to employees. The Company adopted the ASU in the first quarter of fiscal 2018. The updated guidance requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the income statement. Previously, excess tax benefits and deficiencies were recognized in shareholders’ equity on the balance sheet. This change is required to be applied prospectively. During the first quarter of fiscal 2018, the Company recognized $88 million of excess tax benefits related to share-based payment awards in Income tax expense in the Unaudited Condensed Consolidated Statements of Income. Additionally, ASU 2016-09 modified the classification of certain share-based payment activities within the statement of cash flows, which the Company applied retrospectively. As a result, for the three months ended August 31, 2016, the Company reclassified a cash inflow of $59 million related to excess tax benefits from share-based payment awards from Cash used by financing activities to Cash provided by operations , and reclassified a cash outflow of $8 million related to tax payments for the net settlement of share-based payment awards from Cash provided by operations to Cash used by financing activities within the Unaudited Condensed Consolidated Statement of Cash Flows. Recently Issued Accounting Standards In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The update to the standard is effective for the Company June 1, 2019, with early adoption permitted in any interim period. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . The updated guidance requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company will adopt the standard on June 1, 2018, using a modified retrospective approach with the cumulative effect recognized through retained earnings at the date of adoption. The Company continues to assess the impact this update will have on its existing accounting policies and the Consolidated Financial Statements and anticipates the updated guidance could have a material impact on the Consolidated Financial Statements at adoption through the recognition of a cumulative-effect adjustment to retained earnings of previously deferred charges. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which replaces existing lease accounting guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. The new guidance will require the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company will adopt the standard on June 1, 2019. The ASU is required to be applied using a modified retrospective approach at the beginning of the earliest period presented, with optional practical expedients. The Company continues to assess the effect the guidance will have on its existing accounting policies and the Consolidated Financial Statements and expects there will be an increase in assets and liabilities on the Consolidated Balance Sheets at adoption due to the recording of right-of-use assets and corresponding lease liabilities, which may be material. Refer to Note 15 — Commitments and Contingencies of the Annual Report on Form 10-K for the fiscal year ended May 31, 2017 for information about the Company ’ s lease obligations. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The updated guidance enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The update to the standard is effective for the Company beginning June 1, 2018. The Company does not expect the adoption to have a material impact on the Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , that replaces existing revenue recognition guidance. The updated guidance requires companies to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt the standard on June 1, 2018 using a modified retrospective approach with the cumulative effect of initially applying the new standard recognized in retained earnings at the date of adoption. The Company is in the process of evaluating the new standard against its existing accounting policies, including the timing of revenue recognition, and its contracts with customers, to determine the effect the guidance will have on the Consolidated Financial Statements.

Inventories

Inventories	3 Months Ended
	Aug. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Note 2 — Inventories Inventory balances of $5,211 million and $5,055 million at August 31, 2017 and May 31, 2017 , respectively, were substantially all finished goods.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Aug. 31, 2017
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	Note 3 — Accrued Liabilities Accrued liabilities included the following: As of August 31, As of May 31, (In millions) 2017 2017 Compensation and benefits, excluding taxes $ 837 $ 871 Fair value of derivatives 528 168 Endorsement compensation 383 396 Dividends payable 295 300 Import and logistics costs 280 257 Taxes other than income taxes payable 243 196 Advertising and marketing 152 125 Other (1) 783 698 TOTAL ACCRUED LIABILITIES $ 3,501 $ 3,011 (1) Other consists of various accrued expenses with no individual item accounting for more than 5% of the total Accrued liabilities balance at August 31, 2017 and May 31, 2017 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Aug. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4 — Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives and available-for-sale securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the FASB that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the fair value hierarchy are described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs for which there is little or no market data available, which require the reporting entity to develop its own assumptions. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement. Pricing vendors are utilized for a majority of Level 1 and Level 2 investments. These vendors either provide a quoted market price in an active market or use observable inputs without applying significant adjustments in their pricing. Observable inputs include broker quotes, interest rates and yield curves observable at commonly quoted intervals, volatilities and credit risks. The fair value of derivative contracts is determined using observable market inputs such as the daily market foreign currency rates, forward pricing curves, currency volatilities, currency correlations and interest rates, and considers non-performance risk of the Company and that of its counterparties. The Company’s fair value measurement process includes comparing fair values to another independent pricing vendor to ensure appropriate fair values are recorded. The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of August 31, 2017 and May 31, 2017 , and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. As of August 31, 2017 (In millions) Assets at Fair Value Cash and Equivalents Short-term Investments Other Long-term Assets Cash $ 624 $ 624 $ — $ — Level 1: U.S. Treasury securities 1,205 200 1,005 — Level 2: Time deposits 901 862 39 — U.S. Agency securities 354 50 304 — Commercial paper and bonds 797 39 758 — Money market funds 1,638 1,638 — — Total Level 2: 3,690 2,589 1,101 — Level 3: Non-marketable preferred stock 10 — — 10 TOTAL $ 5,529 $ 3,413 $ 2,106 $ 10 As of May 31, 2017 (In millions) Assets at Fair Value Cash and Equivalents Short-term Investments Other Long-term Assets Cash $ 505 $ 505 $ — $ — Level 1: U.S. Treasury securities 1,545 159 1,386 — Level 2: Time deposits 813 769 44 — U.S. Agency securities 522 150 372 — Commercial paper and bonds 820 251 569 — Money market funds 1,974 1,974 — — Total Level 2: 4,129 3,144 985 — Level 3: Non-marketable preferred stock 10 — — 10 TOTAL $ 6,189 $ 3,808 $ 2,371 $ 10 The Company elects to record the gross assets and liabilities of its derivative financial instruments on the Unaudited Condensed Consolidated Balance Sheets. The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. Any amounts of cash collateral received related to these instruments associated with the Company ’ s credit-related contingent features are recorded in Cash and equivalents and Accrued liabilities , the latter of which would further offset against the Company’s derivative asset balance. Any amounts of cash collateral posted related to these instruments associated with the Company ’ s credit-related contingent features are recorded in Prepaid expenses and other current assets , which would further offset against the Company’s derivative liability balance. Cash collateral received or posted related to the Company ’ s credit-related contingent features is presented in the Cash provided by operations component of the Unaudited Condensed Consolidated Statements of Cash Flows. Any amounts of non-cash collateral received, such as securities, are not recorded on the Unaudited Condensed Consolidated Balance Sheets pursuant to U.S. GAAP. For further information related to credit risk, refer to Note 9 — Risk Management and Derivatives . The following tables present information about the Company’s derivative assets and liabilities measured at fair value on a recurring basis as of August 31, 2017 and May 31, 2017 , and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. As of August 31, 2017 Derivative Assets Derivative Liabilities (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) $ 183 $ 175 $ 8 $ 708 $ 525 $ 183 Embedded derivatives 10 1 9 8 3 5 TOTAL $ 193 $ 176 $ 17 $ 716 $ 528 $ 188 (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 $164 million as of August 31, 2017 . As of that date, the Company had posted $273 million of cash collateral to various counterparties related to these foreign exchange derivative instruments. No amount of collateral was received on the Company ’ s derivative asset balance as of August 31, 2017 . As of May 31, 2017 Derivative Assets Derivative Liabilities (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) $ 231 $ 216 $ 15 $ 246 $ 166 $ 80 Embedded derivatives 10 1 9 8 2 6 TOTAL $ 241 $ 217 $ 24 $ 254 $ 168 $ 86 (1) If the foreign exchange derivative instruments had been netted on the Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017 . As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments. Available-for-sale securities comprise investments in U.S. Treasury and Agency securities, time deposits, money market funds, corporate commercial paper and bonds. These securities are valued using market prices in both active markets (Level 1) and less active markets (Level 2). As of August 31, 2017 , the Company held $1,852 million of available-for-sale securities with maturity dates within one year and $254 million with maturity dates over one year and less than five years within Short-term investments on the Unaudited Condensed Consolidated Balance Sheets . The gross realized gains and losses on sales of available-for-sale securities were immaterial for the three months ended August 31, 2017 and 2016 . Unrealized gains and losses on available-for-sale securities included in Accumulated other comprehensive income were immaterial as of August 31, 2017 and May 31, 2017 . The Company regularly reviews its available-for-sale securities for other-than-temporary impairment. For the three months ended August 31, 2017 and 2016 , the Company did not consider any of its securities to be other-than-temporarily impaired and, accordingly, did not recognize any impairment losses. Included in Interest expense (income), net for the three months ended August 31, 2017 and 2016 was interest income related to the Company’s available-for-sale securities of $11 million and $4 million , respectively. The Company’s Level 3 assets comprise investments in certain non-marketable preferred stock. These Level 3 investments are an immaterial portion of the Company’s portfolio. Changes in Level 3 investment assets were immaterial during the three months ended August 31, 2017 and the fiscal year ended May 31, 2017 . No transfers among levels within the fair value hierarchy occurred during the three months ended August 31, 2017 and the fiscal year ended May 31, 2017 . For additional information related to the Company’s derivative financial instruments, refer to Note 9 — Risk Management and Derivatives . The carrying amounts of other current financial assets and other current financial liabilities approximate fair value. As of August 31, 2017 and May 31, 2017 , assets or liabilities that were required to be measured at fair value on a non-recurring basis were immaterial . 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 $3,502 million at August 31, 2017 and $3,401 million at May 31, 2017 . For fair value information regarding Notes payable , refer to Note 5 — Short-Term Borrowings and Credit Lines .

Short-Term Borrowings and Credi

Short-Term Borrowings and Credit Lines	3 Months Ended
	Aug. 31, 2017
Debt Disclosure [Abstract]
Short-Term Borrowings and Credit Lines	Note 5 — Short-Term Borrowings and Credit Lines As of August 31, 2017 , the Company had $325 million of outstanding borrowings under its $2 billion commercial paper program at a weighted average interest rate of 1.15% . As of May 31, 2017 , $325 million of commercial paper was outstanding at a weighted average interest rate of 0.86% . These borrowings are included within Notes payable . The carrying amounts reflected on the Unaudited Condensed Consolidated Balance Sheets for Notes payable approximate fair value.

Income Taxes

Income Taxes	3 Months Ended
	Aug. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 6 — Income Taxes The effective tax rate was 11.4% and 2.5% for the three months ended August 31, 2017 and 2016 , respectively. The Company’s effective tax rate reflected the tax benefit from stock-based compensation in the current period as a result of the adoption of ASU 2016-09. The prior year period included one-time benefits related to the resolution with the U.S. Internal Revenue Service (IRS) of a foreign tax credit matter and an adjustment to the deferred tax asset related to the nonqualified deferred compensation plan. As of August 31, 2017 , total gross unrecognized tax benefits, excluding related interest and penalties, were $498 million , $247 million of which would affect the Company’s effective tax rate if recognized in future periods. As of May 31, 2017 , total gross unrecognized tax benefits, excluding related interest and penalties, were $461 million . The liability for payment of interest and penalties increased $ 9 million during the three months ended August 31, 2017 . As of August 31, 2017 and May 31, 2017 , accrued interest and penalties related to uncertain tax positions were $180 million and $171 million , respectively (excluding federal benefit). The Company is subject to taxation in the United States as well as various state and foreign jurisdictions. The Company has closed all U.S. federal income tax matters through fiscal 2014, with the exception of certain transfer pricing adjustments. The Company is currently under audit by the IRS for fiscal 2015 and 2016. T he Company’s major foreign jurisdictions, China and the Netherlands, have concluded substantially all income tax matters through calendar 2006 and fiscal 2010, respectively. 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 $78 million within the next 12 months.

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation	3 Months Ended
	Aug. 31, 2017
Share-based Compensation [Abstract]
Common Stock and Stock-Based Compensation	Note 7 — Common Stock and Stock-Based Compensation The authorized number of shares of Class A Common Stock, no par value, and Class B Common Stock, no par value, are 400 million and 2,400 million , respectively. Each share of Class A Common Stock is convertible into one share of Class B Common Stock. Voting rights of Class B Common Stock are limited in certain circumstances with respect to the election of directors. There are no differences in the dividend and liquidation preferences or participation rights of the holders of Class A and Class B Common Stock. The NIKE, Inc. Stock Incentive Plan (the “Stock Incentive Plan”) provides for the issuance of up to 718 million previously unissued shares of Class B Common Stock in connection with stock options and other 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, restricted stock, restricted stock units and performance-based awards. The exercise price for stock options and stock appreciation rights may not be less than the fair market value of the underlying shares on the date of grant. A committee of the Board of Directors administers the Stock Incentive Plan. The committee has the authority to determine the employees to whom awards will be made, the amount of the awards and the other terms and conditions of the awards. Substantially all stock option grants outstanding under the Stock Incentive Plan are granted in the first quarter of each fiscal year, vest ratably over four years and expire ten years from the date of grant. In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount to the market price under employee stock purchase plans (ESPPs). Subject to the annual statutory limit, employees are eligible to participate through payroll deductions of up to 10% of their compensation. At the end of each six month offering period, shares are purchased by the participants at 85% of the lower of the fair market value at the beginning or the end of the offering period. The Company accounts for stock-based compensation by estimating the fair value of options granted under the Stock Incentive Plan and employees’ purchase rights under the ESPPs using the Black-Scholes option pricing model. The Company recognizes this fair value as Cost of sales or Operating overhead expense , as applicable, over the vesting period using the straight-line method. 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, (In millions) 2017 2016 Stock options (1) $ 33 $ 39 ESPPs 8 9 Restricted stock 9 9 TOTAL STOCK-BASED COMPENSATION EXPENSE $ 50 $ 57 (1) Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is recorded for employees eligible for accelerated stock option vesting upon retirement. Accelerated stock option expense was $3 million and $5 million for the three months ended August 31, 2017 and 2016 , respectively. As of August 31, 2017 , the Company had $311 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 2.7 years. The weighted average fair value per share of the options granted during the three months ended August 31, 2017 and 2016 , computed as of the grant date using the Black-Scholes pricing model, was $9.82 and $9.36 , respectively. The weighted average assumptions used to estimate these fair values were as follows: Three Months Ended August 31, 2017 2016 Dividend yield 1.2 % 1.1 % Expected volatility 16.4 % 17.3 % Weighted average expected life (in years) 6.0 6.0 Risk-free interest rate 2.0 % 1.3 % The Company estimates the expected volatility based on the implied volatility in market traded options on the Company’s common stock with a term greater than one year, along with other factors. The weighted average expected life of 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 options.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Aug. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 8 — 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 excluded options, including shares under ESPPs, to purchase an additional 46.0 million and 31.7 million shares of common stock outstanding for the three months ended August 31, 2017 and 2016 , respectively, because the options were anti-dilutive. Three Months Ended August 31, (In millions, except per share data) 2017 2016 Determination of shares: Weighted average common shares outstanding 1,639.1 1,672.0 Assumed conversion of dilutive stock options and awards 37.8 36.9 DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 1,676.9 1,708.9 Earnings per common share: Basic $ 0.58 $ 0.75 Diluted $ 0.57 $ 0.73

Risk Management and Derivatives

Risk Management and Derivatives	3 Months Ended
	Aug. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management and Derivatives	Note 9 — 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. The Company does not hold or issue derivatives for trading or speculative purposes. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP. The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to either recognized assets, liabilities, or forecasted transactions and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships. The majority of derivatives outstanding as of August 31, 2017 are designated as foreign currency cash flow hedges, primarily for Euro/U.S. Dollar, Japanese Yen/U.S. Dollar and British Pound/Euro 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 table presents the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets as of August 31, 2017 and May 31, 2017 . Refer to Note 4 — Fair Value Measurements for a description of how the financial instruments in the table below are valued. Derivative Assets Derivative Liabilities (In millions) Balance Sheet Location August 31, May 31, Balance Sheet Location August 31, May 31, Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 92 $ 113 Accrued liabilities $ 291 $ 59 Foreign exchange forwards and options Deferred income taxes and other assets 8 13 Deferred income taxes and other liabilities 173 73 Total derivatives formally designated as hedging instruments 100 126 464 132 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 83 103 Accrued liabilities 234 107 Embedded derivatives Prepaid expenses and other current assets 1 1 Accrued liabilities 3 2 Foreign exchange forwards and options Deferred income taxes and other assets — 2 Deferred income taxes and other liabilities 10 7 Embedded derivatives Deferred income taxes and other assets 9 9 Deferred income taxes and other liabilities 5 6 Total derivatives not designated as hedging instruments 93 115 252 122 TOTAL DERIVATIVES $ 193 $ 241 $ 716 $ 254 The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income for the three months ended August 31, 2017 and 2016 : (In millions) Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives (1) Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (1) Three Months Ended August 31, Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended August 31, 2017 2016 2017 2016 Derivatives designated as cash flow hedges: Foreign exchange forwards and options $ 55 $ 53 Revenues $ 2 $ 33 Foreign exchange forwards and options (277 ) (52 ) Cost of sales 45 104 Foreign exchange forwards and options 1 — Total selling and administrative expense — — Foreign exchange forwards and options (129 ) (16 ) Other expense (income), net 2 43 Interest rate swaps (2) — (91 ) Interest expense (income), net (2 ) — Total designated cash flow hedges $ (350 ) $ (106 ) $ 47 $ 180 (1) For the three months ended August 31, 2017 and 2016 , the amounts recorded in Other expense (income), net as a result of hedge ineffectiveness and 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 , will be released through Interest expense (income), net over the term of the issued debt. Amount of Gain (Loss) Recognized in Income on Derivatives Location of Gain (Loss) Recognized in Income on Derivatives Three Months Ended August 31, (In millions) 2017 2016 Derivatives not designated as hedging instruments: Foreign exchange forwards and options $ (194 ) $ (35 ) Other expense (income), net Embedded derivatives (1 ) 3 Other expense (income), net Cash Flow Hedges All changes in fair value of derivatives designated as cash flow hedges, excluding any ineffective portion, are recorded in Accumulated other comprehensive income until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified within the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. The ineffective portion of the unrealized gains and losses on these contracts, if any, is recorded immediately in earnings. Derivative instruments designated as cash flow hedges must be discontinued when it is no longer probable the forecasted hedged transaction will occur in the initially identified time period. The gains and losses associated with discontinued derivative instruments that were in Accumulated other comprehensive income will be recognized immediately in Other expense (income), 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 all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will account for the derivative as an undesignated instrument as discussed below. The purpose of the Company’s foreign exchange risk management program is to lessen both the positive and negative effects of currency fluctuations on the Company’s consolidated results of operations, financial position and cash flows. Foreign currency exposures that the Company may elect to hedge in this manner include product cost exposures, non-functional currency denominated external and intercompany revenues, selling and administrative expenses, investments in U.S. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions. Product cost exposures are primarily generated through non-functional currency denominated product purchases and the foreign currency adjustment program described below. NIKE entities primarily purchase product in two ways: (1) Certain NIKE entities purchase product from the NIKE Trading Company (NTC), a wholly-owned sourcing hub that buys NIKE branded product from third-party factories, predominantly in U.S. Dollars. The NTC, whose functional currency is the U.S. Dollar, then sells the product to NIKE entities in their respective functional currencies. When the NTC sells to a NIKE entity with a different functional currency, the result is a foreign currency exposure for the NTC. (2) Other NIKE entities purchase product directly from third-party factories in U.S. Dollars. These purchases generate a foreign currency exposure for those NIKE entities with a functional currency other than the U.S. Dollar. The Company operates a foreign currency adjustment program with certain factories. The program is designed to more effectively manage foreign currency risk by assuming certain of the factories’ foreign currency exposures, some of which are natural offsets to the Company’s existing foreign currency exposures. Under this program, the Company’s payments to these factories are adjusted for rate fluctuations in the basket of currencies (“factory currency exposure index”) in which the labor, materials and overhead costs incurred by the factories in the production of NIKE branded products (“factory input costs”) are denominated. For the portion of the indices denominated in the local or functional currency of the factory, the Company may elect to place formally designated cash flow hedges. For all currencies within the indices, excluding the U.S. Dollar and the local or functional currency of the factory, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order. Embedded derivative contracts are separated from the related purchase order, as further described within the Embedded Derivatives section below. The Company’s policy permits the utilization of derivatives to reduce its foreign currency exposures where internal netting or other strategies cannot be effectively employed. Typically, the Company may enter into hedge contracts starting up to 12 to 24 months in advance of the forecasted transaction and may place incremental hedges up to 100% of the exposure by the time the forecasted transaction occurs. The total notional amount of outstanding foreign currency derivatives designated as cash flow hedges was $12 billion as of August 31, 2017 . As of August 31, 2017 , $151 million of deferred net losses (net of tax) on both outstanding and matured derivatives in Accumulated other comprehensive income 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 that are currently outstanding mature. As of August 31, 2017 , the maximum term over which the Company was hedging exposures to the variability of cash flows for its forecasted transactions was 27 months. Fair Value Hedges The Company has, in the past, been exposed to the risk of changes in the fair value of certain fixed-rate debt attributable to changes in interest rates. Derivatives used by the Company to hedge this risk are receive-fixed, pay-variable interest rate swaps. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. The Company recorded no ineffectiveness from its interest rate swaps designated as fair value hedges for the three months ended August 31, 2017 or 2016 . The Company had no interest rate swaps designated as fair value hedges as of August 31, 2017 . Net Investment Hedges All changes in fair value of the derivatives designated as net investment hedges, except ineffective portions, are reported in Accumulated other comprehensive income along with the foreign currency translation adjustments on those investments. The ineffective portion of the unrealized gains and losses on these contracts, if any, are recorded immediately in earnings. The Company has, in the past, hedged and may, in the future, hedge the risk of variability in foreign-currency-denominated net investments in wholly-owned international operations. The Company recorded no ineffectiveness from its net investment hedges for the three months ended August 31, 2017 or 2016 . The Company had no outstanding net investment hedges as of August 31, 2017 . 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 and/or embedded derivative contracts. 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 expense (income), net , together with the re-measurement gain or loss from the hedged balance sheet position and/or embedded derivative contract. The total notional amount of outstanding undesignated derivative instruments was $10 billion as of August 31, 2017 . Embedded Derivatives As part of the foreign currency adjustment program described above, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order for currencies within the factory currency exposure indices that are neither the U.S. Dollar nor the local or functional currency of the factory. In addition, embedded derivative contracts are created when the Company enters into certain other contractual agreements which have payments that are indexed to currencies that are not the functional currency of either substantial party to the contracts. Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related contract and 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 expense (income), net , through the date the foreign currency fluctuations cease to exist. As of August 31, 2017 , the total notional amount of embedded derivatives outstanding was approximately $265 million . Credit Risk The Company is exposed to credit-related losses in the event of non-performance by counterparties to hedging instruments. The counterparties to all derivative transactions are major financial institutions with investment grade credit ratings. However, this does not eliminate the Company’s exposure to credit risk with these institutions. This credit risk is limited to the unrealized gains in such contracts should any of these counterparties fail to perform as contracted. To manage this risk, the Company has established strict counterparty credit guidelines that are continually monitored. The Company’s derivative contracts contain credit risk-related contingent features designed to protect against significant deterioration in counterparties’ creditworthiness and their ultimate ability to settle outstanding derivative contracts in the normal course of business. 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 also trigger collateral requirements. As of August 31, 2017 , the Company was in compliance with all credit risk-related contingent features and had derivative instruments with credit risk-related contingent features in a net liability position of $545 million . Accordingly, the Company was required to post $273 million of cash collateral to various counterparties to its derivative contracts as a result of these contingent features. As of August 31, 2017 , the Company had received no cash collateral from its counterparties to its derivative contracts (refer to Note 4 — Fair Value Measurements ). The Company considers the impact of the risk of counterparty default to be immaterial .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Aug. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Note 10 — Accumulated Other Comprehensive Income The changes in Accumulated other comprehensive income , net of tax, for the three months ended August 31, 2017 were as follows: (In millions) Foreign Currency Translation Adjustment (1) Cash Flow Hedges Net Investment Hedges (1) Other Total Balance at May 31, 2017 $ (191 ) $ (52 ) $ 115 $ (85 ) $ (213 ) Other comprehensive gains (losses) before reclassifications (2) 22 (347 ) — (18 ) (343 ) Reclassifications to net income of previously deferred (gains) losses (3) — (48 ) — 18 (30 ) Other comprehensive income (loss) 22 (395 ) — — (373 ) Balance at August 31, 2017 $ (169 ) $ (447 ) $ 115 $ (85 ) $ (586 ) (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 $(19) million , $3 million , $0 million , $0 million and $(16) million , respectively. (3) Net of tax (benefit) expense of $0 million , $(1) million , $0 million , $0 million and $(1) million , respectively. The changes in Accumulated other comprehensive income , net of tax, for the three months ended August 31, 2016 were as follows: (In millions) Foreign Currency Translation Adjustment (1) Cash Flow Hedges Net Investment Hedges (1) Other Total Balance at May 31, 2016 $ (207 ) $ 463 $ 115 $ (53 ) $ 318 Other comprehensive gains (losses) before reclassifications (2) 3 (60 ) — 13 (44 ) Reclassifications to net income of previously deferred (gains) losses (3) — (180 ) — (9 ) (189 ) Other comprehensive income (loss) 3 (240 ) — 4 (233 ) Balance at August 31, 2016 $ (204 ) $ 223 $ 115 $ (49 ) $ 85 (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 , $ 46 million , $ 0 million , $ 1 million and $ 47 million , respectively. (3) Net of tax (benefit) expense of $ 0 million , $ 0 million , $ 0 million , $ (1) million and $ (1) million , respectively. The following table summarizes the reclassifications from Accumulated other comprehensive income to the Unaudited Condensed Consolidated Statements of Income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended August 31, (In millions) 2017 2016 Gains (losses) on cash flow hedges: Foreign exchange forwards and options $ 2 $ 33 Revenues Foreign exchange forwards and options 45 104 Cost of sales Foreign exchange forwards and options 2 43 Other expense (income), net Interest rate swaps (2 ) — Interest expense (income), net Total before tax 47 180 Tax (expense) benefit 1 — Gain (loss) net of tax 48 180 Gains (losses) on other (18 ) 8 Other expense (income), net Total before tax (18 ) 8 Tax (expense) benefit — 1 Gain (loss) net of tax (18 ) 9 Total net gain (loss) reclassified for the period $ 30 $ 189

Operating Segments

Operating Segments	3 Months Ended
	Aug. 31, 2017
Segment Reporting [Abstract]
Operating Segments	Note 11 — 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. In June 2017, NIKE, Inc. announced a new company alignment designed to allow NIKE to better serve the consumer personally, at scale. As a result of this organizational realignment, the Company’s reportable operating segments for the NIKE Brand are: North America; Europe, Middle East & Africa; Greater China; and Asia Pacific & Latin America, and include results for the NIKE, Jordan and Hurley brands. Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation. This includes reclassified operating segment data to reflect the changes in the Company’s operating structure, which became effective June 1, 2017. These changes had no impact on previously reported consolidated statements of income, balance sheets, statements of cash flows or statements of shareholders’ equity. The Company’s NIKE Direct operations are managed within each geographic operating segment. Converse is also a reportable segment for the Company, and operates in one industry: the design, marketing, licensing and selling of casual 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 primarily represents NIKE Brand licensing businesses that are not part of a geographic operating segment, and demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand. Corporate consists largely 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 (commonly referred to as “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, (In millions) 2017 2016 REVENUES North America $ 3,924 $ 4,031 Europe, Middle East & Africa 2,344 2,262 Greater China 1,108 1,020 Asia Pacific & Latin America 1,189 1,131 Global Brand Divisions 20 15 Total NIKE Brand 8,585 8,459 Converse 483 574 Corporate 2 28 TOTAL NIKE, INC. REVENUES $ 9,070 $ 9,061 EARNINGS BEFORE INTEREST AND TAXES North America $ 1,002 $ 1,004 Europe, Middle East & Africa 451 485 Greater China 394 371 Asia Pacific & Latin America 260 209 Global Brand Divisions (675 ) (771 ) Total NIKE Brand 1,432 1,298 Converse 89 153 Corporate (433 ) (163 ) Total NIKE, Inc. Earnings Before Interest and Taxes 1,088 1,288 Interest expense (income), net 16 7 TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES $ 1,072 $ 1,281 As of August 31, As of May 31, (In millions) 2017 2017 ACCOUNTS RECEIVABLE, NET North America $ 1,759 $ 1,798 Europe, Middle East & Africa 972 690 Greater China 112 102 Asia Pacific & Latin America 696 693 Global Brand Divisions 88 86 Total NIKE Brand 3,627 3,369 Converse 229 297 Corporate 15 11 TOTAL ACCOUNTS RECEIVABLE, NET $ 3,871 $ 3,677 INVENTORIES North America $ 2,222 $ 2,218 Europe, Middle East & Africa 1,359 1,327 Greater China 537 463 Asia Pacific & Latin America 769 694 Global Brand Divisions 72 68 Total NIKE Brand 4,959 4,770 Converse 274 286 Corporate (22 ) (1 ) TOTAL INVENTORIES $ 5,211 $ 5,055 PROPERTY, PLANT AND EQUIPMENT, NET North America $ 827 $ 819 Europe, Middle East & Africa 731 709 Greater China 229 225 Asia Pacific & Latin America 343 340 Global Brand Divisions 543 533 Total NIKE Brand 2,673 2,626 Converse 122 125 Corporate 1,291 1,238 TOTAL PROPERTY, PLANT AND EQUIPMENT, NET $ 4,086 $ 3,989

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Aug. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12 — Commitments and Contingencies As of August 31, 2017 , the Company had letters of credit outstanding totaling $143 million . These letters of credit were issued primarily for the purchase of inventory and guarantees of the Company’s performance under certain self-insurance and other programs. There have been no other significant subsequent developments relating to the commitments and contingencies reported on the Company’s latest Annual Report on Form 10-K.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	B asis of Presentation The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”) and reflect all normal 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, 2017 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. The results of operations for the three months ended August 31, 2017 are not necessarily indicative of results to be expected for the entire year.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to fiscal 2018 presentation, including reclassified geographic operating segment data to reflect the changes in the Company’s operating structure, which became effective on June 1, 2017. Refer to Note 11 — Operating Segments for additional information.
Recently Issued Accounting Standards	Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which changes how companies account for certain aspects of share-based payment awards to employees. The Company adopted the ASU in the first quarter of fiscal 2018. The updated guidance requires excess tax benefits and deficiencies from share-based payment awards to be recorded in income tax expense in the income statement. Previously, excess tax benefits and deficiencies were recognized in shareholders’ equity on the balance sheet. This change is required to be applied prospectively. During the first quarter of fiscal 2018, the Company recognized $88 million of excess tax benefits related to share-based payment awards in Income tax expense in the Unaudited Condensed Consolidated Statements of Income. Additionally, ASU 2016-09 modified the classification of certain share-based payment activities within the statement of cash flows, which the Company applied retrospectively. As a result, for the three months ended August 31, 2016, the Company reclassified a cash inflow of $59 million related to excess tax benefits from share-based payment awards from Cash used by financing activities to Cash provided by operations , and reclassified a cash outflow of $8 million related to tax payments for the net settlement of share-based payment awards from Cash provided by operations to Cash used by financing activities within the Unaudited Condensed Consolidated Statement of Cash Flows. Recently Issued Accounting Standards In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The update to the standard is effective for the Company June 1, 2019, with early adoption permitted in any interim period. The Company is currently evaluating the effect the guidance will have on the Consolidated Financial Statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . The updated guidance requires companies to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. The Company will adopt the standard on June 1, 2018, using a modified retrospective approach with the cumulative effect recognized through retained earnings at the date of adoption. The Company continues to assess the impact this update will have on its existing accounting policies and the Consolidated Financial Statements and anticipates the updated guidance could have a material impact on the Consolidated Financial Statements at adoption through the recognition of a cumulative-effect adjustment to retained earnings of previously deferred charges. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which replaces existing lease accounting guidance. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet. The new guidance will require the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company will adopt the standard on June 1, 2019. The ASU is required to be applied using a modified retrospective approach at the beginning of the earliest period presented, with optional practical expedients. The Company continues to assess the effect the guidance will have on its existing accounting policies and the Consolidated Financial Statements and expects there will be an increase in assets and liabilities on the Consolidated Balance Sheets at adoption due to the recording of right-of-use assets and corresponding lease liabilities, which may be material. Refer to Note 15 — Commitments and Contingencies of the Annual Report on Form 10-K for the fiscal year ended May 31, 2017 for information about the Company ’ s lease obligations. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The updated guidance enhances the reporting model for financial instruments, which includes amendments to address aspects of recognition, measurement, presentation and disclosure. The update to the standard is effective for the Company beginning June 1, 2018. The Company does not expect the adoption to have a material impact on the Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , that replaces existing revenue recognition guidance. The updated guidance requires companies to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company will adopt the standard on June 1, 2018 using a modified retrospective approach with the cumulative effect of initially applying the new standard recognized in retained earnings at the date of adoption. The Company is in the process of evaluating the new standard against its existing accounting policies, including the timing of revenue recognition, and its contracts with customers, to determine the effect the guidance will have on the Consolidated Financial Statements.
Fair Value Measurements	The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives and available-for-sale securities. Fair value is the price the Company would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. The Company uses a three-level hierarchy established by the FASB that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the fair value hierarchy are described below: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs for which there is little or no market data available, which require the reporting entity to develop its own assumptions. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most conservative level of input that is significant to the fair value measurement. Pricing vendors are utilized for a majority of Level 1 and Level 2 investments. These vendors either provide a quoted market price in an active market or use observable inputs without applying significant adjustments in their pricing. Observable inputs include broker quotes, interest rates and yield curves observable at commonly quoted intervals, volatilities and credit risks. The fair value of derivative contracts is determined using observable market inputs such as the daily market foreign currency rates, forward pricing curves, currency volatilities, currency correlations and interest rates, and considers non-performance risk of the Company and that of its counterparties. The Company’s fair value measurement process includes comparing fair values to another independent pricing vendor to ensure appropriate fair values are recorded.
Hedging Derivatives	The Company elects to record the gross assets and liabilities of its derivative financial instruments on the Unaudited Condensed Consolidated Balance Sheets. The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. Any amounts of cash collateral received related to these instruments associated with the Company ’ s credit-related contingent features are recorded in Cash and equivalents and Accrued liabilities , the latter of which would further offset against the Company’s derivative asset balance. Any amounts of cash collateral posted related to these instruments associated with the Company ’ s credit-related contingent features are recorded in Prepaid expenses and other current assets , which would further offset against the Company’s derivative liability balance. Cash collateral received or posted related to the Company ’ s credit-related contingent features is presented in the Cash provided by operations component of the Unaudited Condensed Consolidated Statements of Cash Flows. Any amounts of non-cash collateral received, such as securities, are not recorded on the Unaudited Condensed Consolidated Balance Sheets pursuant to U.S. GAAP. For further information related to credit risk, refer to Note 9 — Risk Management and Derivatives . Net Investment Hedges All changes in fair value of the derivatives designated as net investment hedges, except ineffective portions, are reported in Accumulated other comprehensive income along with the foreign currency translation adjustments on those investments. The ineffective portion of the unrealized gains and losses on these contracts, if any, are recorded immediately in earnings. The Company has, in the past, hedged and may, in the future, hedge the risk of variability in foreign-currency-denominated net investments in wholly-owned international operations. Fair Value Hedges The Company has, in the past, been exposed to the risk of changes in the fair value of certain fixed-rate debt attributable to changes in interest rates. Derivatives used by the Company to hedge this risk are receive-fixed, pay-variable interest rate swaps. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. Cash Flow Hedges All changes in fair value of derivatives designated as cash flow hedges, excluding any ineffective portion, are recorded in Accumulated other comprehensive income until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified within the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. The ineffective portion of the unrealized gains and losses on these contracts, if any, is recorded immediately in earnings. Derivative instruments designated as cash flow hedges must be discontinued when it is no longer probable the forecasted hedged transaction will occur in the initially identified time period. The gains and losses associated with discontinued derivative instruments that were in Accumulated other comprehensive income will be recognized immediately in Other expense (income), 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 all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will account for the derivative as an undesignated instrument as discussed below. The purpose of the Company’s foreign exchange risk management program is to lessen both the positive and negative effects of currency fluctuations on the Company’s consolidated results of operations, financial position and cash flows. Foreign currency exposures that the Company may elect to hedge in this manner include product cost exposures, non-functional currency denominated external and intercompany revenues, selling and administrative expenses, investments in U.S. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions. Product cost exposures are primarily generated through non-functional currency denominated product purchases and the foreign currency adjustment program described below. NIKE entities primarily purchase product in two ways: (1) Certain NIKE entities purchase product from the NIKE Trading Company (NTC), a wholly-owned sourcing hub that buys NIKE branded product from third-party factories, predominantly in U.S. Dollars. The NTC, whose functional currency is the U.S. Dollar, then sells the product to NIKE entities in their respective functional currencies. When the NTC sells to a NIKE entity with a different functional currency, the result is a foreign currency exposure for the NTC. (2) Other NIKE entities purchase product directly from third-party factories in U.S. Dollars. These purchases generate a foreign currency exposure for those NIKE entities with a functional currency other than the U.S. Dollar. The Company operates a foreign currency adjustment program with certain factories. The program is designed to more effectively manage foreign currency risk by assuming certain of the factories’ foreign currency exposures, some of which are natural offsets to the Company’s existing foreign currency exposures. Under this program, the Company’s payments to these factories are adjusted for rate fluctuations in the basket of currencies (“factory currency exposure index”) in which the labor, materials and overhead costs incurred by the factories in the production of NIKE branded products (“factory input costs”) are denominated. For the portion of the indices denominated in the local or functional currency of the factory, the Company may elect to place formally designated cash flow hedges. For all currencies within the indices, excluding the U.S. Dollar and the local or functional currency of the factory, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order. Embedded derivative contracts are separated from the related purchase order, as further described within the Embedded Derivatives section below. The Company’s policy permits the utilization of derivatives to reduce its foreign currency exposures where internal netting or other strategies cannot be effectively employed. Typically, the Company may enter into hedge contracts starting up to 12 to 24 months in advance of the forecasted transaction and may place incremental hedges up to 100% of the exposure by the time the forecasted transaction occurs.
Undesignated Derivative Instruments	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 and/or embedded derivative contracts. 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 expense (income), net , together with the re-measurement gain or loss from the hedged balance sheet position and/or embedded derivative contract.
Embedded Derivatives	Embedded Derivatives As part of the foreign currency adjustment program described above, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order for currencies within the factory currency exposure indices that are neither the U.S. Dollar nor the local or functional currency of the factory. In addition, embedded derivative contracts are created when the Company enters into certain other contractual agreements which have payments that are indexed to currencies that are not the functional currency of either substantial party to the contracts. Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related contract and 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 expense (income), net , through the date the foreign currency fluctuations cease to exist.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Aug. 31, 2017
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities included the following: As of August 31, As of May 31, (In millions) 2017 2017 Compensation and benefits, excluding taxes $ 837 $ 871 Fair value of derivatives 528 168 Endorsement compensation 383 396 Dividends payable 295 300 Import and logistics costs 280 257 Taxes other than income taxes payable 243 196 Advertising and marketing 152 125 Other (1) 783 698 TOTAL ACCRUED LIABILITIES $ 3,501 $ 3,011 (1) Other consists of various accrued expenses with no individual item accounting for more than 5% of the total Accrued liabilities balance at August 31, 2017 and May 31, 2017 .

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Aug. 31, 2017
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, 2017 and May 31, 2017 , and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. As of August 31, 2017 (In millions) Assets at Fair Value Cash and Equivalents Short-term Investments Other Long-term Assets Cash $ 624 $ 624 $ — $ — Level 1: U.S. Treasury securities 1,205 200 1,005 — Level 2: Time deposits 901 862 39 — U.S. Agency securities 354 50 304 — Commercial paper and bonds 797 39 758 — Money market funds 1,638 1,638 — — Total Level 2: 3,690 2,589 1,101 — Level 3: Non-marketable preferred stock 10 — — 10 TOTAL $ 5,529 $ 3,413 $ 2,106 $ 10 As of May 31, 2017 (In millions) Assets at Fair Value Cash and Equivalents Short-term Investments Other Long-term Assets Cash $ 505 $ 505 $ — $ — Level 1: U.S. Treasury securities 1,545 159 1,386 — Level 2: Time deposits 813 769 44 — U.S. Agency securities 522 150 372 — Commercial paper and bonds 820 251 569 — Money market funds 1,974 1,974 — — Total Level 2: 4,129 3,144 985 — Level 3: Non-marketable preferred stock 10 — — 10 TOTAL $ 6,189 $ 3,808 $ 2,371 $ 10
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 as of August 31, 2017 and May 31, 2017 , and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. As of August 31, 2017 Derivative Assets Derivative Liabilities (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) $ 183 $ 175 $ 8 $ 708 $ 525 $ 183 Embedded derivatives 10 1 9 8 3 5 TOTAL $ 193 $ 176 $ 17 $ 716 $ 528 $ 188 (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 $164 million as of August 31, 2017 . As of that date, the Company had posted $273 million of cash collateral to various counterparties related to these foreign exchange derivative instruments. No amount of collateral was received on the Company ’ s derivative asset balance as of August 31, 2017 . As of May 31, 2017 Derivative Assets Derivative Liabilities (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) $ 231 $ 216 $ 15 $ 246 $ 166 $ 80 Embedded derivatives 10 1 9 8 2 6 TOTAL $ 241 $ 217 $ 24 $ 254 $ 168 $ 86 (1) If the foreign exchange derivative instruments had been netted on the Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017 . As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments. The following table presents the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets as of August 31, 2017 and May 31, 2017 . Refer to Note 4 — Fair Value Measurements for a description of how the financial instruments in the table below are valued. Derivative Assets Derivative Liabilities (In millions) Balance Sheet Location August 31, May 31, Balance Sheet Location August 31, May 31, Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 92 $ 113 Accrued liabilities $ 291 $ 59 Foreign exchange forwards and options Deferred income taxes and other assets 8 13 Deferred income taxes and other liabilities 173 73 Total derivatives formally designated as hedging instruments 100 126 464 132 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 83 103 Accrued liabilities 234 107 Embedded derivatives Prepaid expenses and other current assets 1 1 Accrued liabilities 3 2 Foreign exchange forwards and options Deferred income taxes and other assets — 2 Deferred income taxes and other liabilities 10 7 Embedded derivatives Deferred income taxes and other assets 9 9 Deferred income taxes and other liabilities 5 6 Total derivatives not designated as hedging instruments 93 115 252 122 TOTAL DERIVATIVES $ 193 $ 241 $ 716 $ 254

Common Stock and Stock-Based 22

Common Stock and Stock-Based Compensation (Tables)	3 Months Ended
	Aug. 31, 2017
Share-based Compensation [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	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, (In millions) 2017 2016 Stock options (1) $ 33 $ 39 ESPPs 8 9 Restricted stock 9 9 TOTAL STOCK-BASED COMPENSATION EXPENSE $ 50 $ 57 (1) Expense for stock options includes the expense associated with stock appreciation rights. Accelerated stock option expense is recorded for employees eligible for accelerated stock option vesting upon retirement. Accelerated stock option expense was $3 million and $5 million for the three months ended August 31, 2017 and 2016 , respectively.
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, 2017 2016 Dividend yield 1.2 % 1.1 % Expected volatility 16.4 % 17.3 % Weighted average expected life (in years) 6.0 6.0 Risk-free interest rate 2.0 % 1.3 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Aug. 31, 2017
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 excluded options, including shares under ESPPs, to purchase an additional 46.0 million and 31.7 million shares of common stock outstanding for the three months ended August 31, 2017 and 2016 , respectively, because the options were anti-dilutive. Three Months Ended August 31, (In millions, except per share data) 2017 2016 Determination of shares: Weighted average common shares outstanding 1,639.1 1,672.0 Assumed conversion of dilutive stock options and awards 37.8 36.9 DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 1,676.9 1,708.9 Earnings per common share: Basic $ 0.58 $ 0.75 Diluted $ 0.57 $ 0.73

Risk Management and Derivativ24

Risk Management and Derivatives (Tables)	3 Months Ended
	Aug. 31, 2017
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 as of August 31, 2017 and May 31, 2017 , and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement. As of August 31, 2017 Derivative Assets Derivative Liabilities (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) $ 183 $ 175 $ 8 $ 708 $ 525 $ 183 Embedded derivatives 10 1 9 8 3 5 TOTAL $ 193 $ 176 $ 17 $ 716 $ 528 $ 188 (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 $164 million as of August 31, 2017 . As of that date, the Company had posted $273 million of cash collateral to various counterparties related to these foreign exchange derivative instruments. No amount of collateral was received on the Company ’ s derivative asset balance as of August 31, 2017 . As of May 31, 2017 Derivative Assets Derivative Liabilities (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) $ 231 $ 216 $ 15 $ 246 $ 166 $ 80 Embedded derivatives 10 1 9 8 2 6 TOTAL $ 241 $ 217 $ 24 $ 254 $ 168 $ 86 (1) If the foreign exchange derivative instruments had been netted on the Condensed Consolidated Balance Sheets, the asset and liability positions each would have been reduced by $187 million as of May 31, 2017 . As of that date, no amount of cash collateral had been received or posted on the derivative asset and liability balances related to these foreign exchange derivative instruments. The following table presents the fair values of derivative instruments included within the Unaudited Condensed Consolidated Balance Sheets as of August 31, 2017 and May 31, 2017 . Refer to Note 4 — Fair Value Measurements for a description of how the financial instruments in the table below are valued. Derivative Assets Derivative Liabilities (In millions) Balance Sheet Location August 31, May 31, Balance Sheet Location August 31, May 31, Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets $ 92 $ 113 Accrued liabilities $ 291 $ 59 Foreign exchange forwards and options Deferred income taxes and other assets 8 13 Deferred income taxes and other liabilities 173 73 Total derivatives formally designated as hedging instruments 100 126 464 132 Derivatives not designated as hedging instruments: Foreign exchange forwards and options Prepaid expenses and other current assets 83 103 Accrued liabilities 234 107 Embedded derivatives Prepaid expenses and other current assets 1 1 Accrued liabilities 3 2 Foreign exchange forwards and options Deferred income taxes and other assets — 2 Deferred income taxes and other liabilities 10 7 Embedded derivatives Deferred income taxes and other assets 9 9 Deferred income taxes and other liabilities 5 6 Total derivatives not designated as hedging instruments 93 115 252 122 TOTAL DERIVATIVES $ 193 $ 241 $ 716 $ 254
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following tables present the amounts affecting the Unaudited Condensed Consolidated Statements of Income for the three months ended August 31, 2017 and 2016 : (In millions) Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives (1) Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (1) Three Months Ended August 31, Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended August 31, 2017 2016 2017 2016 Derivatives designated as cash flow hedges: Foreign exchange forwards and options $ 55 $ 53 Revenues $ 2 $ 33 Foreign exchange forwards and options (277 ) (52 ) Cost of sales 45 104 Foreign exchange forwards and options 1 — Total selling and administrative expense — — Foreign exchange forwards and options (129 ) (16 ) Other expense (income), net 2 43 Interest rate swaps (2) — (91 ) Interest expense (income), net (2 ) — Total designated cash flow hedges $ (350 ) $ (106 ) $ 47 $ 180 (1) For the three months ended August 31, 2017 and 2016 , the amounts recorded in Other expense (income), net as a result of hedge ineffectiveness and 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 , will be released through Interest expense (income), net over the term of the issued debt. Amount of Gain (Loss) Recognized in Income on Derivatives Location of Gain (Loss) Recognized in Income on Derivatives Three Months Ended August 31, (In millions) 2017 2016 Derivatives not designated as hedging instruments: Foreign exchange forwards and options $ (194 ) $ (35 ) Other expense (income), net Embedded derivatives (1 ) 3 Other expense (income), net

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Aug. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income	The changes in Accumulated other comprehensive income , net of tax, for the three months ended August 31, 2017 were as follows: (In millions) Foreign Currency Translation Adjustment (1) Cash Flow Hedges Net Investment Hedges (1) Other Total Balance at May 31, 2017 $ (191 ) $ (52 ) $ 115 $ (85 ) $ (213 ) Other comprehensive gains (losses) before reclassifications (2) 22 (347 ) — (18 ) (343 ) Reclassifications to net income of previously deferred (gains) losses (3) — (48 ) — 18 (30 ) Other comprehensive income (loss) 22 (395 ) — — (373 ) Balance at August 31, 2017 $ (169 ) $ (447 ) $ 115 $ (85 ) $ (586 ) (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 $(19) million , $3 million , $0 million , $0 million and $(16) million , respectively. (3) Net of tax (benefit) expense of $0 million , $(1) million , $0 million , $0 million and $(1) million , respectively. The changes in Accumulated other comprehensive income , net of tax, for the three months ended August 31, 2016 were as follows: (In millions) Foreign Currency Translation Adjustment (1) Cash Flow Hedges Net Investment Hedges (1) Other Total Balance at May 31, 2016 $ (207 ) $ 463 $ 115 $ (53 ) $ 318 Other comprehensive gains (losses) before reclassifications (2) 3 (60 ) — 13 (44 ) Reclassifications to net income of previously deferred (gains) losses (3) — (180 ) — (9 ) (189 ) Other comprehensive income (loss) 3 (240 ) — 4 (233 ) Balance at August 31, 2016 $ (204 ) $ 223 $ 115 $ (49 ) $ 85 (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 , $ 46 million , $ 0 million , $ 1 million and $ 47 million , respectively. (3) Net of tax (benefit) expense of $ 0 million , $ 0 million , $ 0 million , $ (1) million and $ (1) million , respectively.
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications from Accumulated other comprehensive income to the Unaudited Condensed Consolidated Statements of Income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended August 31, (In millions) 2017 2016 Gains (losses) on cash flow hedges: Foreign exchange forwards and options $ 2 $ 33 Revenues Foreign exchange forwards and options 45 104 Cost of sales Foreign exchange forwards and options 2 43 Other expense (income), net Interest rate swaps (2 ) — Interest expense (income), net Total before tax 47 180 Tax (expense) benefit 1 — Gain (loss) net of tax 48 180 Gains (losses) on other (18 ) 8 Other expense (income), net Total before tax (18 ) 8 Tax (expense) benefit — 1 Gain (loss) net of tax (18 ) 9 Total net gain (loss) reclassified for the period $ 30 $ 189

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Aug. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended August 31, (In millions) 2017 2016 REVENUES North America $ 3,924 $ 4,031 Europe, Middle East & Africa 2,344 2,262 Greater China 1,108 1,020 Asia Pacific & Latin America 1,189 1,131 Global Brand Divisions 20 15 Total NIKE Brand 8,585 8,459 Converse 483 574 Corporate 2 28 TOTAL NIKE, INC. REVENUES $ 9,070 $ 9,061 EARNINGS BEFORE INTEREST AND TAXES North America $ 1,002 $ 1,004 Europe, Middle East & Africa 451 485 Greater China 394 371 Asia Pacific & Latin America 260 209 Global Brand Divisions (675 ) (771 ) Total NIKE Brand 1,432 1,298 Converse 89 153 Corporate (433 ) (163 ) Total NIKE, Inc. Earnings Before Interest and Taxes 1,088 1,288 Interest expense (income), net 16 7 TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES $ 1,072 $ 1,281
Reconciliation of Assets from Segment to Consolidated	As of August 31, As of May 31, (In millions) 2017 2017 ACCOUNTS RECEIVABLE, NET North America $ 1,759 $ 1,798 Europe, Middle East & Africa 972 690 Greater China 112 102 Asia Pacific & Latin America 696 693 Global Brand Divisions 88 86 Total NIKE Brand 3,627 3,369 Converse 229 297 Corporate 15 11 TOTAL ACCOUNTS RECEIVABLE, NET $ 3,871 $ 3,677 INVENTORIES North America $ 2,222 $ 2,218 Europe, Middle East & Africa 1,359 1,327 Greater China 537 463 Asia Pacific & Latin America 769 694 Global Brand Divisions 72 68 Total NIKE Brand 4,959 4,770 Converse 274 286 Corporate (22 ) (1 ) TOTAL INVENTORIES $ 5,211 $ 5,055 PROPERTY, PLANT AND EQUIPMENT, NET North America $ 827 $ 819 Europe, Middle East & Africa 731 709 Greater China 229 225 Asia Pacific & Latin America 343 340 Global Brand Divisions 543 533 Total NIKE Brand 2,673 2,626 Converse 122 125 Corporate 1,291 1,238 TOTAL PROPERTY, PLANT AND EQUIPMENT, NET $ 4,086 $ 3,989

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit, amount	$ 88
Cash provided by operations	575	$ 788
Cash used by financing activities	$ 998	1,202
Accounting Standard Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operations		59
Cash used by financing activities		59
Accounting Standard Update 2016-09, Statutory Tax Withholding Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operations		8
Cash used by financing activities		$ 8

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Inventory Disclosure [Abstract]
Inventory balances (substantially all finished goods)	$ 5,211	$ 5,055

Accrued Liabilities (Detail)

Accrued Liabilities (Detail) - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Accrued Liabilities, Current [Abstract]
Compensation and benefits, excluding taxes	$ 837	$ 871
Fair value of derivatives	528	168
Endorsement compensation	383	396
Dividends payable	295	300
Import and logistics costs	280	257
Taxes other than income taxes payable	243	196
Advertising and marketing	152	125
Other	783	698
TOTAL ACCRUED LIABILITIES	$ 3,501	$ 3,011

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Cash	$ 624	$ 505
Assets at Fair Value	5,529	6,189
Cash and Equivalents	3,413	3,808
Short-term Investments	2,106	2,371
Other Long-term Assets	10	10
Fair Value Measurements Using Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	1,205	1,545
Cash and Equivalents	200	159
Short-term Investments	1,005	1,386
Other Long-term Assets	0	0
Fair Value Measurements Using Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	3,690	4,129
Cash and Equivalents	2,589	3,144
Short-term Investments	1,101	985
Other Long-term Assets	0	0
Fair Value Measurements Using Level 2 | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	901	813
Cash and Equivalents	862	769
Short-term Investments	39	44
Other Long-term Assets	0	0
Fair Value Measurements Using Level 2 | U.S. Agency securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	354	522
Cash and Equivalents	50	150
Short-term Investments	304	372
Other Long-term Assets	0	0
Fair Value Measurements Using Level 2 | Commercial paper and bonds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	797	820
Cash and Equivalents	39	251
Short-term Investments	758	569
Other Long-term Assets	0	0
Fair Value Measurements Using Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	1,638	1,974
Cash and Equivalents	1,638	1,974
Short-term Investments	0	0
Other Long-term Assets	0	0
Fair Value Measurements Using Level 3 | Non-marketable preferred stock
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Assets at Fair Value	10	10
Cash and Equivalents	0	0
Short-term Investments	0	0
Other Long-term Assets	$ 10	$ 10

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Assets and Liabilities at Fair Value (Detail) - USD ($)	Aug. 31, 2017	May 31, 2017
Derivatives, Fair Value [Line Items]
Accrued Liabilities	$ 528,000,000	$ 168,000,000
Fair Value, Measurements, Recurring | Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Reduction in derivative assets if netted	164,000,000	187,000,000
Reduction in derivative liabilities if netted	164,000,000	187,000,000
Fair Value Measurements Using Level 2 | Fair Value, Measurements, Recurring
Derivatives, Fair Value [Line Items]
Assets at Fair Value	193,000,000	241,000,000
Other Current Assets	176,000,000	217,000,000
Other Long-term Assets	17,000,000	24,000,000
Liabilities at Fair Value	716,000,000	254,000,000
Accrued Liabilities	528,000,000	168,000,000
Other Long-term Liabilities	188,000,000	86,000,000
Fair Value Measurements Using Level 2 | Fair Value, Measurements, Recurring | Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Assets at Fair Value	183,000,000	231,000,000
Other Current Assets	175,000,000	216,000,000
Other Long-term Assets	8,000,000	15,000,000
Liabilities at Fair Value	708,000,000	246,000,000
Accrued Liabilities	525,000,000	166,000,000
Other Long-term Liabilities	183,000,000	80,000,000
Fair Value Measurements Using Level 2 | Fair Value, Measurements, Recurring | Embedded derivatives
Derivatives, Fair Value [Line Items]
Assets at Fair Value	10,000,000	10,000,000
Other Current Assets	1,000,000	1,000,000
Other Long-term Assets	9,000,000	9,000,000
Liabilities at Fair Value	8,000,000	8,000,000
Accrued Liabilities	3,000,000	2,000,000
Other Long-term Liabilities	5,000,000	6,000,000
Cash and Cash Equivalents | Foreign exchange forwards and options
Derivatives, Fair Value [Line Items]
Collateral posted on derivative liabilities	273,000,000	0
Collateral received on derivative assets	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	May 31, 2016	May 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Interest income	$ 11,000,000	$ 4,000,000
Fair value transfers between fair value hierarchy levels	0		$ 0
Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale securities with maturity dates within one year from purchase date	1,852,000,000
Available-for-sale securities with maturity dates over one year and less than five years from purchase date	254,000,000
Fair Value Measurements Using Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair value of long term debt	$ 3,502,000,000			$ 3,401,000,000

Short-Term Borrowings and Cre33

Short-Term Borrowings and Credit Lines - (Detail) - USD ($)	Aug. 31, 2017	May 31, 2017
Short-term Debt [Line Items]
Notes payable	$ 335,000,000	$ 325,000,000
Commercial paper
Short-term Debt [Line Items]
Notes payable	325,000,000	$ 325,000,000
Borrowing capacity	$ 2,000,000,000
Notes payable - interest rate	1.15%	0.86%

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	May 31, 2017
Income Tax Disclosure [Abstract]
Effective tax rate on continuing operations (percent)	11.40%	2.50%
Total gross unrecognized tax benefits, excluding related interest and penalties	$ 498		$ 461
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	247
Change in income tax penalties and interest accrued	9
Accrued interest and penalties related to uncertain tax positions (excluding federal benefit)	180		$ 171
Estimated decrease in total gross unrecognized tax benefits as a result of resolutions of global tax examinations and expiration of applicable statutes of limitations	$ 78

Common Stock and Stock-Based 35

Common Stock and Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended
	Aug. 31, 2017USD ($)$ / sharesshares	Aug. 31, 2016$ / shares
Class A Convertible Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, no par value (in dollars per share) | $ / shares	$ 0
Common stock, shares authorized (in shares) | shares	400,000,000
Common stock, conversion basis	Each share of Class A Common Stock is convertible into one share of Class B Common Stock.
Common stock, Class A conversion ratio to Class B (in shares)	1
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, no par value (in dollars per share) | $ / shares	$ 0
Common stock, shares authorized (in shares) | shares	2,400,000,000
Shares available for grant (in shares) | shares	718,000,000
Stock options | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vesting period	4 years
Stock options expiration from the date of grant	10 years
Unrecognized compensation costs from stock options, net of estimated forfeitures | $	$ 311
Unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized as operating overhead expense over a weighted average period	2 years 8 months 12 days
Weighted average fair value per share of the options granted (in dollars per share) | $ / shares	$ 9.82	$ 9.36
Minimum term of market traded options for estimates of expected volatility	1 year
ESPPs | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plans, payroll deductions	10.00%
Employee stock purchase plan offering period	6 months
Purchase price of common stock, percent	85.00%

Common Stock and Stock-Based 36

Common Stock and Stock-Based Compensation - Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 50	$ 57
Class B Common Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	50	57
Class B Common Stock | Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	33	39
Accelerated stock option expense	3	5
Class B Common Stock | ESPPs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	8	9
Class B Common Stock | Restricted stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 9	$ 9

Common Stock and Stock-Based 37

Common Stock and Stock-Based Compensation - Weighted Average Assumptions Used to Estimate Fair Values (Detail) - Stock options - Class B Common Stock	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.20%	1.10%
Expected volatility	16.40%	17.30%
Weighted average expected life	6 years	6 years
Risk-free interest rate	2.00%	1.30%

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive options not included in the computation of diluted earnings per share	46	31.7

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation from Basic to Diluted Earnings Per Share (Detail) - $ / shares shares in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Determination of shares:
Weighted average common shares outstanding	1,639.1	1,672
Assumed conversion of dilutive stock options and awards	37.8	36.9
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	1,676.9	1,708.9
Earnings per common share:
Basic (in dollars per share)	$ 0.58	$ 0.75
Diluted (in dollars per share)	$ 0.57	$ 0.73

Risk Management and Derivativ40

Risk Management and Derivatives - Additional Information (Detail) - USD ($)	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	May 31, 2017
Derivative Instruments and Hedging Activities Disclosure [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	$ 151,000,000
Maximum term over which the Company is hedging exposures to the variability of cash flows for its forecasted and recorded transactions (in months)	27 months
Gain (loss) on fair value hedge ineffectiveness, net	$ 0	$ 0
Amount of ineffectiveness on net investment hedges	0	$ 0
Aggregate fair value of derivative instruments in net liability position	545,000,000
Collateral required	273,000,000
Minimum
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Minimum fair value of outstanding derivative above which the credit related contingent features require the derivative party to post collateral	$ 50,000,000
Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Additional period for forecasted transaction expected to occur	2 months
Percentage of anticipated exposures hedged (percent)	100.00%
Total notional amount of outstanding derivatives	$ 12,000,000,000
Derivatives designated as cash flow hedges | Minimum
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Typical time period that anticipated exposures are hedged against (in months)	12 months
Derivatives designated as cash flow hedges | Maximum
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Typical time period that anticipated exposures are hedged against (in months)	24 months
Embedded derivatives
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total notional amount of outstanding derivatives	$ 265,000,000
Interest rate swaps | Derivatives designated as fair value hedges
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total notional amount of outstanding derivatives	0
Gain (loss) on fair value hedge ineffectiveness, net	0
Foreign exchange forwards and options | Cash and Cash Equivalents
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Collateral received on derivative assets	0		$ 0
Foreign exchange forwards and options | Derivatives designated as net investment hedges
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative assets (liabilities), at fair value, net	0
Undesignated derivative instruments
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Total notional amount of outstanding derivatives	$ 10,000,000,000

Risk Management and Derivativ41

Risk Management and Derivatives - FV of Derivative Instruments Included within Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 193	$ 241
Derivative Liabilities	716	254
Derivatives formally designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative Assets	100	126
Derivative Liabilities	464	132
Derivatives formally designated as hedging instruments | Foreign exchange forwards and options | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	92	113
Derivatives formally designated as hedging instruments | Foreign exchange forwards and options | Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	8	13
Derivatives formally designated as hedging instruments | Foreign exchange forwards and options | Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	291	59
Derivatives formally designated as hedging instruments | Foreign exchange forwards and options | Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	173	73
Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Derivative Assets	93	115
Derivative Liabilities	252	122
Derivatives not designated as hedging instruments | Foreign exchange forwards and options | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	83	103
Derivatives not designated as hedging instruments | Foreign exchange forwards and options | Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0	2
Derivatives not designated as hedging instruments | Foreign exchange forwards and options | Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	234	107
Derivatives not designated as hedging instruments | Foreign exchange forwards and options | Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	10	7
Derivatives not designated as hedging instruments | Embedded derivatives | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	1	1
Derivatives not designated as hedging instruments | Embedded derivatives | Deferred income taxes and other assets
Derivatives, Fair Value [Line Items]
Derivative Assets	9	9
Derivatives not designated as hedging instruments | Embedded derivatives | Accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	3	2
Derivatives not designated as hedging instruments | Embedded derivatives | Deferred income taxes and other liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 5	$ 6

Risk Management and Derivativ42

Risk Management and Derivatives - Amounts Affecting Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Derivatives not designated as hedging instruments | Foreign exchange forwards and options | Other expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ (194)	$ (35)
Derivatives not designated as hedging instruments | Embedded derivatives | Other expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(1)	3
Derivatives designated as cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(350)	(106)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	47	180
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 on Derivatives	55	53
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	2	33
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 on Derivatives	(277)	(52)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	45	104
Derivatives designated as cash flow hedges | Foreign exchange forwards and options | Total selling and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	1	0
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	0	0
Derivatives designated as cash flow hedges | Foreign exchange forwards and options | Other expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives	(129)	(16)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	2	43
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 on Derivatives	0	(91)
Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income	$ (2)	$ 0

Accumulated Other Comprehensi43

Accumulated Other Comprehensive Income - Changes in AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	$ 12,407
Other comprehensive gains (losses) before reclassifications, net of tax	(343)	$ (44)
Reclassifications to net income of previously deferred (gains) losses, net of tax	(30)	(189)
Total other comprehensive income (loss), net of tax	(373)	(233)
Ending balance	11,993
Other comprehensive income, before reclassification, tax benefit (expense)	(16)	47
Reclassification from AOCI, Current Period, Tax	(1)	(1)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	(191)	(207)
Other comprehensive gains (losses) before reclassifications, net of tax	22	3
Reclassifications to net income of previously deferred (gains) losses, net of tax	0	0
Total other comprehensive income (loss), net of tax	22	3
Ending balance	(169)	(204)
Other comprehensive income, before reclassification, tax benefit (expense)	(19)	0
Reclassification from AOCI, Current Period, Tax	0	0
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	(52)	463
Other comprehensive gains (losses) before reclassifications, net of tax	(347)	(60)
Reclassifications to net income of previously deferred (gains) losses, net of tax	(48)	(180)
Total other comprehensive income (loss), net of tax	(395)	(240)
Ending balance	(447)	223
Other comprehensive income, before reclassification, tax benefit (expense)	3	46
Reclassification from AOCI, Current Period, Tax	(1)	0
Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	115	115
Other comprehensive gains (losses) before reclassifications, net of tax	0	0
Reclassifications to net income of previously deferred (gains) losses, net of tax	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	0	0
Other
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	(85)	(53)
Other comprehensive gains (losses) before reclassifications, net of tax	(18)	13
Reclassifications to net income of previously deferred (gains) losses, net of tax	18	(9)
Total other comprehensive income (loss), net of tax	0	4
Ending balance	(85)	(49)
Other comprehensive income, before reclassification, tax benefit (expense)	0	1
Reclassification from AOCI, Current Period, Tax	0	(1)
Total
AOCI Including Portion Attributable to Noncontrolling, Net of Tax [Roll Forward]
Beginning balance	(213)	318
Ending balance	$ (586)	$ 85

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Revenues	$ 9,070	$ 9,061
Cost of sales	(5,108)	(4,938)
Other expense (income), net	(18)	62
Interest expense (income), net	(16)	(7)
Income before income taxes	1,072	1,281
Tax (expense) benefit	(122)	(32)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
NET INCOME	30	189
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income | Gain (losses) on cash flow hedges
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	47	180
Tax (expense) benefit	1	0
NET INCOME	48	180
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income | Gain (losses) on cash flow hedges | Foreign exchange forwards and options
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Revenues	2	33
Cost of sales	45	104
Other expense (income), net	2	43
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income | Gain (losses) on cash flow hedges | Interest rate swaps
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Interest expense (income), net	(2)	0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income | Other
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	(18)	8
Income before income taxes	(18)	8
Tax (expense) benefit	0	1
NET INCOME	$ (18)	$ 9

Operating Segments - Informatio

Operating Segments - Information by Operating Segments (Detail) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 9,070	$ 9,061
EARNINGS BEFORE INTEREST AND TAXES	1,088	1,288
Interest expense (income), net	16	7
Income before income taxes	1,072	1,281
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2	28
EARNINGS BEFORE INTEREST AND TAXES	(433)	(163)
NIKE Brand
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	8,585	8,459
EARNINGS BEFORE INTEREST AND TAXES	1,432	1,298
NIKE Brand | Global Brand Divisions
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	20	15
EARNINGS BEFORE INTEREST AND TAXES	(675)	(771)
NIKE Brand | North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	3,924	4,031
EARNINGS BEFORE INTEREST AND TAXES	1,002	1,004
NIKE Brand | Europe, Middle East & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,344	2,262
EARNINGS BEFORE INTEREST AND TAXES	451	485
NIKE Brand | Greater China
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,108	1,020
EARNINGS BEFORE INTEREST AND TAXES	394	371
NIKE Brand | Asia Pacific & Latin America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,189	1,131
EARNINGS BEFORE INTEREST AND TAXES	260	209
Converse
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	483	574
EARNINGS BEFORE INTEREST AND TAXES	$ 89	$ 153

Operating Segments - Accounts R

Operating Segments - Accounts Receivable Net Inventories and Property, Plant and Equipment Net (Detail) - USD ($) $ in Millions	Aug. 31, 2017	May 31, 2017
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	$ 3,871	$ 3,677
Inventories	5,211	5,055
Property, plant and equipment, net	4,086	3,989
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	15	11
Inventories	(22)	(1)
Property, plant and equipment, net	1,291	1,238
Converse
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	229	297
Inventories	274	286
Property, plant and equipment, net	122	125
NIKE Brand
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	3,627	3,369
Inventories	4,959	4,770
Property, plant and equipment, net	2,673	2,626
NIKE Brand | Global Brand Divisions
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	88	86
Inventories	72	68
Property, plant and equipment, net	543	533
NIKE Brand | North America
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	1,759	1,798
Inventories	2,222	2,218
Property, plant and equipment, net	827	819
NIKE Brand | Europe, Middle East & Africa
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	972	690
Inventories	1,359	1,327
Property, plant and equipment, net	731	709
NIKE Brand | Greater China
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	112	102
Inventories	537	463
Property, plant and equipment, net	229	225
NIKE Brand | Asia Pacific & Latin America
Segment Reporting, Asset Reconciling Item [Line Items]
Accounts receivable, net	696	693
Inventories	769	694
Property, plant and equipment, net	$ 343	$ 340

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Millions	Aug. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 143