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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Feb. 28, 2015
Accounting Policies [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The following are selected line items from the Company's Unaudited Condensed Consolidated Financial Statements illustrating the effect of these corrections and the correction of other immaterial errors: Third quarter of fiscal 2014 (presented herein for comparative purposes):
|  | NIKE, Inc. Unaudited Condensed Consolidated Statements of Income
|  | Three Months Ended February 28, 2014 |  | Nine Months Ended February 28, 2014
(In millions, except per share data) |  | As Reported |  | Adjustment |  | As Revised |  | As Reported |  | Adjustment |  | As Revised
Total selling and administrative expense |  | $ | 2,166 |  |  | $ | 3 |  |  | $ | 2,169 |  |  | $ | 6,310 |  |  | $ | 8 |  |  | $ | 6,318 |
Income before income taxes |  | 883 |  |  | (3 | ) |  | 880 |  |  | 2,640 |  |  | (8 | ) |  | 2,632 |
Income tax expense |  | 198 |  |  | — |  |  | 198 |  |  | 638 |  |  | (1 | ) |  | 637 |
NET INCOME |  | $ | 685 |  |  | $ | (3 | ) |  | $ | 682 |  |  | $ | 2,002 |  |  | $ | (7 | ) |  | $ | 1,995 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.78 |  |  | $ | (0.01 | ) |  | $ | 0.77 |  |  | $ | 2.26 |  |  | $ | (0.01 | ) |  | $ | 2.25 |
Diluted |  | $ | 0.76 |  |  | $ | (0.01 | ) |  | $ | 0.75 |  |  | $ | 2.20 |  |  | $ | (0.01 | ) |  | $ | 2.19 |
|  | NIKE, Inc. Unaudited Condensed Consolidated Statements of Comprehensive Income
|  | Three Months Ended February 28, 2014 |  | Nine Months Ended February 28, 2014
(In millions) |  | As Reported |  | Adjustment |  | As Revised |  | As Reported |  | Adjustment |  | As Revised
Net income |  | $ | 685 |  |  | $ | (3 | ) |  | $ | 682 |  |  | $ | 2,002 |  |  | $ | (7 | ) |  | $ | 1,995 |
TOTAL COMPREHENSIVE INCOME |  | $ | 628 |  |  | $ | (3 | ) |  | $ | 625 |  |  | $ | 1,761 |  |  | $ | (7 | ) |  | $ | 1,754 |
|  | NIKE, Inc. Unaudited Condensed Consolidated Statements of Cash Flows
|  | Nine Months Ended February 28, 2014
(In millions) |  | As Reported |  | Adjustment |  | As Revised
Cash provided by operations: |  |  |  |  |  |
Net income |  | $ | 2,002 |  |  | $ | (7 | ) |  | $ | 1,995 |
Income charges (credits) not affecting cash: |  |  |  |  |  |
Amortization and other |  | 102 |  |  | (49 | ) |  | 53 |
Net foreign currency adjustments |  | — |  |  | 59 |  |  | 59 |
(Increase) in inventories |  | (343 | ) |  | (6 | ) |  | (349 | )
Increase (decrease) in accounts payable, accrued liabilities and income taxes |  | (54 | ) |  | 5 |  |  | (49 | )
Cash provided by operations |  | 1,683 |  |  | 2 |  |  | 1,685 |
Cash used by investing activities: |  |  |  |  |  |
Purchases of short-term investments |  | (4,146 | ) |  | (89 | ) |  | (4,235 | )
Maturities of short-term investments |  | 3,030 |  |  | (145 | ) |  | 2,885 |
Sales of short-term investments |  | 555 |  |  | 234 |  |  | 789 |
(Increase) in other assets, net of other liabilities |  | (16 | ) |  | 15 |  |  | (1 | )
Cash used by investing activities |  | (1,246 | ) |  | 15 |  |  | (1,231 | )
Effect of exchange rate changes on cash and equivalents |  | 7 |  |  | (17 | ) |  | (10 | )
Net increase (decrease) in cash and equivalents |  | (1,473 | ) |  | — |  |  | (1,473 | )
Cash and equivalents, beginning of period |  | 3,337 |  |  | — |  |  | 3,337 |
CASH AND EQUIVALENTS, END OF PERIOD |  | $ | 1,864 |  |  | $ | — |  |  | $ | 1,864 |
First and second quarters of fiscal 2015 (to be presented in Forms 10-Q for the first and second quarters of fiscal 2016 for comparative purposes):
|  | NIKE, Inc. Unaudited Condensed Consolidated Statements of Cash Flows
|  | Three Months Ended August 31, 2014 |  | Six Months Ended November 30, 2014
(In millions) |  | As Reported |  | Adjustment |  | As Revised |  | As Reported |  | Adjustment |  | As Revised
Cash provided by operations: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 962 |  |  | $ | — |  |  | $ | 962 |  |  | $ | 1,617 |  |  | $ | — |  |  | $ | 1,617 |
Income charges (credits) not affecting cash: |  |  |  |  |  |  |  |  |  |  |  |
Amortization and other |  | (34 | ) |  | 42 |  |  | 8 |  |  | (54 | ) |  | 69 |  |  | 15 |
Net foreign currency adjustments |  | — |  |  | 53 |  |  | 53 |  |  | — |  |  | 243 |  |  | 243 |
Cash provided by operations |  | 588 |  |  | 95 |  |  | 683 |  |  | 1,235 |  |  | 312 |  |  | 1,547 |
Effect of exchange rate changes on cash and equivalents |  | 97 |  |  | (95 | ) |  | 2 |  |  | 288 |  |  | (312 | ) |  | (24 | )
Net increase (decrease) in cash and equivalents |  | 83 |  |  | — |  |  | 83 |  |  | 53 |  |  | — |  |  | 53 |
Cash and equivalents, beginning of period |  | 2,220 |  |  | — |  |  | 2,220 |  |  | 2,220 |  |  | — |  |  | 2,220 |
CASH AND EQUIVALENTS, END OF PERIOD |  | $ | 2,303 |  |  | $ | — |  |  | $ | 2,303 |  |  | $ | 2,273 |  |  | $ | — |  |  | $ | 2,273 |
The following are selected line items from the Company's Consolidated Financial Statements illustrating the effect of these corrections on the amounts previously reported in the Company's fiscal 2014 Annual Report on Form 10-K:
|  | NIKE, Inc. Consolidated Statements of Cash Flows
|  | Year Ended May 31, 2014 |  | Year Ended May 31, 2013 |  | Year Ended May 31, 2012
(In millions) |  | As Reported |  | Adjustment |  | As Revised |  | As Reported |  | Adjustment |  | As Revised |  | As Reported |  | Adjustment |  | As Revised
Cash provided by operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 2,693 |  |  | $ | — |  |  | $ | 2,693 |  |  | $ | 2,472 |  |  | $ | — |  |  | $ | 2,472 |  |  | $ | 2,211 |  |  | $ | — |  |  | $ | 2,211 |
Income charges (credits) not affecting cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization and other |  | 114 |  |  | (46 | ) |  | 68 |  |  | 66 |  |  | (2 | ) |  | 64 |  |  | 23 |  |  | 45 |  |  | 68 |
Net foreign currency adjustments |  | — |  |  | 56 |  |  | 56 |  |  | — |  |  | 66 |  |  | 66 |  |  | — |  |  | 63 |  |  | 63 |
Cash provided by operations |  | 3,003 |  |  | 10 |  |  | 3,013 |  |  | 2,968 |  |  | 64 |  |  | 3,032 |  |  | 1,824 |  |  | 108 |  |  | 1,932 |
Effect of exchange rate changes on cash and equivalents |  | 1 |  |  | (10 | ) |  | (9 | ) |  | 100 |  |  | (64 | ) |  | 36 |  |  | 67 |  |  | (108 | ) |  | (41 | )
Net (decrease) increase in cash and equivalents |  | (1,117 | ) |  | — |  |  | (1,117 | ) |  | 1,083 |  |  | — |  |  | 1,083 |  |  | 377 |  |  | — |  |  | 377 |
Cash and equivalents, beginning of year |  | 3,337 |  |  | — |  |  | 3,337 |  |  | 2,254 |  |  | — |  |  | 2,254 |  |  | 1,877 |  |  | — |  |  | 1,877 |
CASH AND EQUIVALENTS, END OF YEAR |  | $ | 2,220 |  |  | $ | — |  |  | $ | 2,220 |  |  | $ | 3,337 |  |  | $ | — |  |  | $ | 3,337 |  |  | $ | 2,254 |  |  | $ | — |  |  | $ | 2,254 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22663-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22658-107794 + Details
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