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: 2015 | |||
Consolidated Statements Of Income | |||
Period Ending May 31, 2015 10-K (Filed: July 23, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2015 | May 31, 2014 | May 31, 2013 | |
| Revenues | $ 30,601 | 27,799 | 25,313 |
| Cost of sales | 16,534 | 15,353 | 14,279 |
| Gross profit | 14,067 | 12,446 | 11,034 |
| Demand creation expense | 3,213 | 3,031 | 2,745 |
| Operating overhead expense | 6,679 | 5,735 | 5,051 |
| Total selling and administrative expense | 9,892 | 8,766 | 7,796 |
| Interest expense (income), net (Notes 6, 7 and 8) | 28 | 33 | (3) |
| Other (income) expense, net (Note 17) | (58) | 103 | (15) |
| Income before income taxes | 4,205 | 3,544 | 3,256 |
| Income tax expense (Note 9) | 932 | 851 | 805 |
| NET INCOME FROM CONTINUING OPERATIONS | 3,273 | 2,693 | 2,451 |
| NET INCOME FROM DISCONTINUED OPERATIONS | 0 | 0 | 21 |
| NET INCOME | 3,273 | 2,693 | 2,472 |
| Earnings per common share from continuing operations: | |||
| Basic (Notes 1 and 12) (in dollars per share) | 3.80 | 3.05 | 2.74 |
| Diluted (Notes 1 and 12) (in dollars per share) | 3.70 | 2.97 | 2.68 |
| Earnings per common share from discontinued operations: | |||
| Basic (Notes 1 and 12) (in dollars per share) | 0.00 | 0.00 | 0.02 |
| Diluted (Notes 1 and 12) (in dollars per share) | 0.00 | 0.00 | 0.02 |
| Dividends declared per common share (in dollars per share) | 1.08 | 0.93 | 0.81 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2015 10-K (Filed: July 23, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2015 | May 31, 2014 | May 31, 2013 | |
| Net income | $ 3,273 | 2,693 | 2,472 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | (20) | (32) [1] | 38 |
| Change in net gains (losses) on cash flow hedges | 1,188 | (161) | 12 [2] |
| Change in net gains (losses) on other | 7 | (4) | 8 [3] |
| Change in release of cumulative translation loss related to Umbro | 0 | 0 | 83 [4] |
| Total other comprehensive income (loss), net of tax | 1,161 | (189) | 125 |
| TOTAL COMPREHENSIVE INCOME | 4,434 | 2,504 | 2,597 |
| [1] Net of tax benefit (expense) of $0 million, $0 million and $(13) million, respectively. | |||
| [2] Net of tax benefit (expense) of $(31) million, $18 million and $(22) million, respectively. | |||
| [3] Net of tax benefit (expense) of $0 million, $0 million and $1 million, respectively. | |||
| [4] Net of tax benefit (expense) of $0 million, $0 million and $47 million, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2015 10-K (Filed: July 23, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2015 | May 31, 2014 | May 31, 2013 | |
| Cash provided by operations: | |||
| Net income | $ 3,273 | 2,693 | 2,472 |
| Income charges (credits) not affecting cash: | |||
| Depreciation | 606 | 518 | 438 |
| Deferred income taxes | (113) | (11) | 20 |
| Stock-based compensation (Note 11) | 191 | 177 | 174 |
| Amortization and other | 43 | 68 | 64 |
| Net foreign currency adjustments | 424 | 56 | 66 |
| Net gain on divestitures | 0 | 0 | (124) |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (216) | (298) | 142 |
| (Increase) in inventories | (621) | (505) | (219) |
| (Increase) in prepaid expenses and other current assets | (144) | (210) | (28) |
| Increase in accounts payable, accrued liabilities and income taxes payable | 1,237 | 525 | 27 |
| Cash provided by operations | 4,680 | 3,013 | 3,032 |
| Cash used by investing activities: | |||
| Purchases of short-term investments | (4,936) | (5,386) | (4,133) |
| Maturities of short-term investments | 3,655 | 3,932 | 1,663 |
| Sales of short-term investments | 2,216 | 1,126 | 1,330 |
| Investments in reverse repurchase agreements | (150) | 0 | 0 |
| Additions to property, plant and equipment | (963) | (880) | (598) |
| Disposals of property, plant and equipment | 3 | 3 | 14 |
| Proceeds from divestitures | 0 | 0 | 786 |
| (Increase) in other assets, net of other liabilities | 0 | (2) | (2) |
| Cash used by investing activities | (175) | (1,207) | (940) |
| Cash used by financing activities: | |||
| Net proceeds from long-term debt issuance | 0 | 0 | 986 |
| Long-term debt payments, including current portion | (7) | (60) | (49) |
| (Decrease) increase in notes payable | (63) | 75 | 10 |
| Payments on capital lease obligations | (19) | (17) | 0 |
| Proceeds from exercise of stock options and other stock issuances | 514 | 383 | 313 |
| Excess tax benefits from share-based payment arrangements | 218 | 132 | 72 |
| Repurchase of common stock | (2,534) | (2,628) | (1,674) |
| Dividends common and preferred | (899) | (799) | (703) |
| Cash used by financing activities | (2,790) | (2,914) | (1,045) |
| Effect of exchange rate changes on cash and equivalents | (83) | (9) | 36 |
| Net increase (decrease) in cash and equivalents | 1,632 | (1,117) | 1,083 |
| Cash and equivalents, beginning of year | 2,220 | 3,337 | |
| CASH AND EQUIVALENTS, END OF YEAR | 3,852 | 2,220 | 3,337 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 53 | 53 | 20 |
| Income taxes | 1,262 | 856 | 702 |
| Non-cash additions to property, plant and equipment | 206 | 167 | 137 |
| Dividends declared and not paid | 240 | 209 | 188 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2015 10-K (Filed: July 23, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2015 | May 31, 2014 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents (Note 6) | $ 3,852 | 2,220 |
| Short-term investments (Note 6) | 2,072 | 2,922 |
| Accounts receivable, net (Note 1) | 3,358 | 3,434 |
| Inventories (Notes 1 and 2) | 4,337 | 3,947 |
| Deferred income taxes (Note 9) | 389 | 355 |
| Prepaid expenses and other current assets (Notes 6 and 17) | 1,968 | 818 |
| Total current assets | 15,976 | 13,696 |
| Property, plant and equipment, net (Note 3) | 3,011 | 2,834 |
| Identifiable intangible assets, net (Note 4) | 281 | 282 |
| Goodwill (Note 4) | 131 | 131 |
| Deferred income taxes and other assets (Notes 6, 9 and 17) | 2,201 | 1,651 |
| TOTAL ASSETS | 21,600 | 18,594 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt (Note 8) | 107 | 7 |
| Notes payable (Note 7) | 74 | 167 |
| Accounts payable (Note 7) | 2,131 | 1,930 |
| Accrued liabilities (Notes 5, 6 and 17) | 3,951 | 2,491 |
| Income taxes payable (Note 9) | 71 | 432 |
| Total current liabilities | 6,334 | 5,027 |
| Long-term debt (Note 8) | 1,079 | 1,199 |
| Deferred income taxes and other liabilities (Notes 6, 9, 13 and 17) | 1,480 | 1,544 |
| Commitments and contingencies (Note 16) | ||
| Redeemable preferred stock (Note 10) | 0 | 0 |
| Shareholders equity: | ||
| Capital in excess of stated value | 6,773 | 5,865 |
| Accumulated other comprehensive income (Note 14) | 1,246 | 85 |
| Retained earnings | 4,685 | 4,871 |
| Total shareholders equity | 12,707 | 10,824 |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 21,600 | 18,594 |
| 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 2015 | |
| 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 |