NIKE INC | 2013 | FY | 3

Notes payable and interest-bearing accounts payable to Sojitz Corporation of America (“Sojitz America”) as of May 31, 2013 and 2012, are summarized below:
 
 
As of May 31,
 
 
 
2013
 
 
2012
 
(In millions)
 
Borrowings

 
Interest Rate

 
 
Borrowings

 
Interest Rate

 
Notes payable:
 
 
 
 
 
 
 
 
 
 
U.S. operations
 
$
20

 
0.00
%
(1) 
 
$
30

 
5.50
%
(1) 
Non-U.S. operations
 
101

 
4.77
%
(1) 
 
78

 
9.46
%
(1) 
TOTAL NOTES PAYABLE
 
$
121

 
 
 
 
$
108

 
 
 
Interest-Bearing Accounts Payable:
 
 
 
 
 
 
 
 
 
 
Sojitz America
 
$
55

 
0.99
%
 
 
$
75

 
1.10
%
 
(1)
Weighted average interest rate includes non-interest bearing overdrafts.

us-gaap:ScheduleOfShortTermDebtTextBlock