10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2014 | |||
Consolidated Statements Of Income | |||
Period Ending May 31, 2014 10-K (Filed: July 25, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2014 | May 31, 2013 | May 31, 2012 | |
| Revenues | $ 27,799 | 25,313 | 23,331 |
| Cost of sales | 15,353 | 14,279 | 13,183 |
| Gross profit | 12,446 | 11,034 | 10,148 |
| Demand creation expense | 3,031 | 2,745 | 2,607 |
| Operating overhead expense | 5,735 | 5,051 | 4,472 |
| Total selling and administrative expense | 8,766 | 7,796 | 7,079 |
| Interest expense (income), net (Notes 6, 7, and 8) | 33 | (3) | 4 |
| Other expense (income), net (Note 17) | 103 | (15) | 54 |
| Income before income taxes | 3,544 | 3,256 | 3,011 |
| Income tax expense (Note 9) | 851 | 805 | 754 |
| NET INCOME FROM CONTINUING OPERATIONS | 2,693 | 2,451 | 2,257 |
| NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS | 0 | 21 | (46) |
| NET INCOME | 2,693 | 2,472 | 2,211 |
| Basic earnings per common share (Notes 1 and 12)(in dollars per share) | 3.05 | 2.74 | 2.45 |
| Diluted earnings per common share (Notes 1 and 12)(in dollars per share) | 2.97 | 2.68 | 2.40 |
| Basic earnings per common share (Notes 1 and 12)(in dollars per share) | 0.00 | 0.02 | (0.05) |
| Diluted earnings per common share (Notes 1 and 12)(in dollars per share) | 0.00 | 0.02 | (0.05) |
| Dividends declared per common share (in dollars per share) | 0.93 | 0.81 | 0.70 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2014 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2014 10-K (Filed: July 25, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2014 | May 31, 2013 | May 31, 2012 | |
| Net income | $ 2,693 | 2,472 | 2,211 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | (32) | 38 | (277) [1] |
| Change in net gains (losses) on cash flow hedges | (161) [2] | 12 | 304 |
| Change in net gains (losses) on net investment hedges | 0 [3] | 0 | 45 |
| Change in net gains (losses) on other | 4 | (8) | (18) [4] |
| Change in release of cumulative translation loss related to Umbro | 0 | 83 [5] | 0 |
| Total other comprehensive income (loss), net of tax | (189) | 125 | 54 |
| TOTAL COMPREHENSIVE INCOME | 2,504 | 2,597 | 2,265 |
| [1] Net of tax benefit (expense) of $0 million, $(13) million, and $0 million, respectively. | |||
| [2] Net of tax benefit (expense) of $18 million, $(22) million, and $(22) million, respectively. | |||
| [3] Net of tax benefit of $0 million, $0 million, and $0 million, respectively. | |||
| [4] Net of tax benefit of $0 million, $1 million, and $0 million, respectively. | |||
| [5] Net of tax benefit of $0 million, $47 million, and $0 million, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2014 10-K (Filed: July 25, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2014 | May 31, 2013 | May 31, 2012 | |
| Cash provided by operations: | |||
| Net income | $ 2,693 | 2,472 | 2,211 |
| Income charges (credits) not affecting cash: | |||
| Depreciation | 518 | 438 | 373 |
| Deferred income taxes | (11) | 20 | (59) |
| Stock-based compensation (Note 11) | 177 | 174 | 130 |
| Amortization and other | 114 | 66 | 23 |
| Net gain on divestitures | 0 | (124) | 0 |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (298) | 142 | (323) |
| (Increase) in inventories | (505) | (219) | (815) |
| (Increase) in prepaid expenses and other current assets | (210) | (28) | (141) |
| Increase in accounts payable, accrued liabilities and income taxes payable | 525 | 27 | 425 |
| Cash provided by operations | 3,003 | 2,968 | 1,824 |
| Cash (used) provided by investing activities: | |||
| Purchases of short-term investments | (5,386) | (4,133) | (3,245) |
| Maturities of short-term investments | 3,932 | 1,663 | 2,663 |
| Sales of short-term investments | 1,126 | 1,330 | 1,721 |
| Additions to property, plant and equipment | (880) | (598) | (563) |
| Disposals of property, plant and equipment | 3 | 14 | 2 |
| Proceeds from divestitures | 0 | 786 | 0 |
| Increase in other assets, net of other liabilities | (2) | (2) | (14) |
| Settlement of net investment hedges | 0 | 0 | 22 |
| Cash (used) provided by investing activities | (1,207) | (940) | 586 |
| Cash used by financing activities: | |||
| Net proceeds from long-term debt issuance | 0 | 986 | 0 |
| Long-term debt payments, including current portion | (60) | (49) | (203) |
| Increase (decrease) in notes payable | 75 | 10 | (47) |
| Payments on capital lease obligations | (17) | 0 | 0 |
| Proceeds from exercise of stock options and other stock issuances | 383 | 313 | 468 |
| Excess tax benefits from share-based payment arrangements | 132 | 72 | 115 |
| Repurchase of common stock | (2,628) | (1,674) | (1,814) |
| Dividends common and preferred | (799) | (703) | (619) |
| Cash used by financing activities | (2,914) | (1,045) | (2,100) |
| Effect of exchange rate changes | 1 | 100 | 67 |
| Net (decrease) increase in cash and equivalents | (1,117) | 1,083 | 377 |
| Cash and equivalents, beginning of year | 3,337 | 2,254 | |
| CASH AND EQUIVALENTS, END OF YEAR | 2,220 | 3,337 | 2,254 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 53 | 20 | 29 |
| Income taxes | 856 | 702 | 638 |
| Non-cash additions to property, plant and equipment | 167 | 137 | 99 |
| Dividends declared and not paid | 209 | 188 | 165 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2014 10-K (Filed: July 25, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2014 | May 31, 2013 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 2,220 | 3,337 |
| Short-term investments (Note 6) | 2,922 | 2,628 |
| Accounts receivable, net (Note 1) | 3,434 | 3,117 |
| Inventories (Notes 1 and 2) | 3,947 | 3,484 |
| Deferred income taxes (Note 9) | 355 | 308 |
| Prepaid expenses and other current assets (Notes 6 and 17) | 818 | 756 |
| Total current assets | 13,696 | 13,630 |
| Property, plant and equipment, net (Note 3) | 2,834 | 2,452 |
| Identifiable intangible assets, net (Note 4) | 282 | 289 |
| Goodwill (Note 4) | 131 | 131 |
| Deferred income taxes and other assets (Notes 6, 9, and 17) | 1,651 | 1,043 |
| TOTAL ASSETS | 18,594 | 17,545 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt (Note 8) | 7 | 57 |
| Notes payable (Note 7) | 167 | 98 |
| Accounts payable (Note 7) | 1,930 | 1,669 |
| Accrued liabilities (Notes 5, 6, and 17) | 2,491 | 2,036 |
| Income taxes payable (Note 9) | 432 | 84 |
| Liabilities of discontinued operations (Note 15) | 0 | 18 |
| Total current liabilities | 5,027 | 3,962 |
| Long-term debt (Note 8) | 1,199 | 1,210 |
| Deferred income taxes and other liabilities (Notes 6, 9, 13 and 17) | 1,544 | 1,292 |
| Commitments and contingencies (Note 16) | ||
| Redeemable preferred stock (Note 10) | 0 | 0 |
| Shareholders equity: | ||
| Capital in excess of stated value | 5,865 | 5,184 |
| Accumulated other comprehensive income (Note 14) | 85 | 274 |
| Retained earnings | 4,871 | 5,620 |
| Total shareholders equity | 10,824 | 11,081 |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 18,594 | 17,545 |
| Class of Stock | ||
| Class A Convertible Common Stock | ||
| Common Stock | 0 | 0 |
| Class B Common Stock | ||
| Common Stock | 3 | 3 |
| External Links | |
| NIKE, INC. (NKE) Fiscal Year 2014 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |