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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending May 31, 2020 10-K (Filed: July 24, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2020 | May 31, 2019 | May 31, 2018 | |
| Revenues | $ 37,403 | 39,117 | 36,397 |
| Cost of sales | 21,162 | 21,643 | 20,441 |
| Gross profit | 16,241 | 17,474 | 15,956 |
| Demand creation expense | 3,592 | 3,753 | 3,577 |
| Operating overhead expense | 9,534 | 8,949 | 7,934 |
| Total selling and administrative expense | 13,126 | 12,702 | 11,511 |
| Interest expense (income), net | 89 | 49 | 54 |
| Other (income) expense, net | 139 | (78) | 66 |
| Income before income taxes | 2,887 | 4,801 | 4,325 |
| Income tax expense | 348 | 772 | 2,392 |
| NET INCOME | 2,539 | 4,029 | 1,933 |
| Earnings per common share: | |||
| Basic (in dollars per share) | 1.63 | 2.55 | 1.19 |
| Diluted (in dollars per share) | 1.60 | 2.49 | 1.17 |
| Weighted average common shares outstanding: | |||
| Basic (in shares) | 1,558,800 | 1,579,700 | 1,623,800 |
| Diluted (in shares) | 1,591,600 | 1,618,400 | 1,659,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2020 10-K (Filed: July 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2020 | May 31, 2019 | May 31, 2018 | |
| Net income | $ 2,539 | 4,029 | 1,933 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | (148) | (173) | (6) |
| Change in net gains (losses) on cash flow hedges | (130) | 503 | 76 |
| Change in net gains (losses) on other | (9) | (7) | 34 |
| Total other comprehensive income (loss), net of tax | (287) | 323 | 104 |
| TOTAL COMPREHENSIVE INCOME | 2,252 | 4,352 | 2,037 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2020 10-K (Filed: July 24, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2020 | May 31, 2019 | May 31, 2018 | |
| Cash provided (used) by operations: | |||
| Net income | $ 2,539 | 4,029 | 1,933 |
| Adjustments to reconcile net income to net cash provided (used) by operations: | |||
| Depreciation | 721 | 705 | 747 |
| Deferred income taxes | (380) | 34 | 647 |
| Stock-based compensation | 429 | 325 | 218 |
| Amortization, impairment and other | 398 | 15 | 27 |
| Net foreign currency adjustments | 23 | 233 | (99) |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | 1,239 | (270) | 187 |
| (Increase) decrease in inventories | (1,854) | (490) | (255) |
| (Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets | (654) | (203) | 35 |
| Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities | 24 | 1,525 | 1,515 |
| Cash provided (used) by operations | 2,485 | 5,903 | 4,955 |
| Cash provided (used) by investing activities: | |||
| Purchases of short-term investments | (2,426) | (2,937) | (4,783) |
| Maturities of short-term investments | 74 | 1,715 | 3,613 |
| Sales of short-term investments | 2,379 | 2,072 | 2,496 |
| Additions to property, plant and equipment | (1,086) | (1,119) | (1,028) |
| Other investing activities | 31 | 5 | (22) |
| Cash provided (used) by investing activities | (1,028) | (264) | 276 |
| Cash provided (used) by financing activities: | |||
| Proceeds from borrowings, net of debt issuance costs | 6,134 | 0 | 0 |
| Increase (decrease) in notes payable, net | 49 | (325) | 13 |
| Proceeds from exercise of stock options and other stock issuances | 885 | 700 | 733 |
| Repurchase of common stock | (3,067) | (4,286) | (4,254) |
| Dividends common and preferred | (1,452) | (1,332) | (1,243) |
| Other financing activities | (58) | (50) | (84) |
| Cash provided (used) by financing activities | 2,491 | (5,293) | (4,835) |
| Effect of exchange rate changes on cash and equivalents | (66) | (129) | 45 |
| Net increase (decrease) in cash and equivalents | 3,882 | 217 | 441 |
| Cash and equivalents, beginning of year | 4,466 | 4,249 | |
| CASH AND EQUIVALENTS, END OF YEAR | 8,348 | 4,466 | 4,249 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 140 | 153 | 125 |
| Income taxes | 1,028 | 757 | 529 |
| Non-cash additions to property, plant and equipment | 121 | 160 | 294 |
| Dividends declared and not paid | 385 | 347 | 320 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2020 10-K (Filed: July 24, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2020 | May 31, 2019 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 8,348 | 4,466 |
| Short-term investments | 439 | 197 |
| Accounts receivable, net | 2,749 | 4,272 |
| Inventories | 7,367 | 5,622 |
| Prepaid expenses and other current assets | 1,653 | 1,968 |
| Total current assets | 20,556 | 16,525 |
| Property, plant and equipment, net | 4,866 | 4,744 |
| Operating lease right-of-use assets, net | 3,097 | 0 |
| Identifiable intangible assets, net | 274 | 283 |
| Goodwill | 223 | 154 |
| Deferred income taxes and other assets | 2,326 | 2,011 |
| TOTAL ASSETS | 31,342 | 23,717 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | 3 | 6 |
| Notes payable | 248 | 9 |
| Accounts payable | 2,248 | 2,612 |
| Current portion of operating lease liabilities | 445 | 0 |
| Accrued liabilities | 5,184 | 5,010 |
| Income taxes payable | 156 | 229 |
| Total current liabilities | 8,284 | 7,866 |
| Long-term debt | 9,406 | 3,464 |
| Operating lease liabilities | 2,913 | 0 |
| Deferred income taxes and other liabilities | 2,684 | 3,347 |
| Commitments and contingencies (Note 18) | ||
| Redeemable preferred stock | 0 | 0 |
| Shareholders' equity: | ||
| Capital in excess of stated value | 8,299 | 7,163 |
| Accumulated other comprehensive income (loss) | (56) | 231 |
| Retained earnings (deficit) | (191) | 1,643 |
| Total shareholders' equity | 8,055 | 9,040 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 31,342 | 23,717 |
| Class of Stock | ||
| Class A Convertible Common Stock | ||
| Common stock at stated value | 0 | 0 |
| Class B Common Stock | ||
| Common stock at stated value | 3 | 3 |
| External Links | |
| NIKE, INC. (NKE) Fiscal Year 2020 | |
| 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 |