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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending May 31, 2021 10-K (Filed: July 20, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2021 | May 31, 2020 | May 31, 2019 | |
| Revenues | $ 44,538 | 37,403 | 39,117 |
| Cost of sales | 24,576 | 21,162 | 21,643 |
| Gross profit | 19,962 | 16,241 | 17,474 |
| Demand creation expense | 3,114 | 3,592 | 3,753 |
| Operating overhead expense | 9,911 | 9,534 | 8,949 |
| Total selling and administrative expense | 13,025 | 13,126 | 12,702 |
| Interest expense (income), net | 262 | 89 | 49 |
| Other (income) expense, net | 14 | 139 | (78) |
| Income before income taxes | 6,661 | 2,887 | 4,801 |
| Income tax expense | 934 | 348 | 772 |
| NET INCOME | 5,727 | 2,539 | 4,029 |
| Earnings per common share: | |||
| Basic (in dollars per share) | 3.64 | 1.63 | 2.55 |
| Diluted (in dollars per share) | 3.56 | 1.60 | 2.49 |
| Weighted average common shares outstanding: | |||
| Basic (in shares) | 1,573,000 | 1,558,800 | 1,579,700 |
| Diluted (in shares) | 1,609,400 | 1,591,600 | 1,618,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2021 10-K (Filed: July 20, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2021 | May 31, 2020 | May 31, 2019 | |
| Net income | $ 5,727 | 2,539 | 4,029 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | 496 | (148) | (173) |
| Change in net gains (losses) on cash flow hedges | (825) | (130) | 503 |
| Change in net gains (losses) on other | 5 | (9) | (7) |
| Total other comprehensive income (loss), net of tax | (324) | (287) | 323 |
| TOTAL COMPREHENSIVE INCOME | 5,403 | 2,252 | 4,352 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2021 10-K (Filed: July 20, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2021 | May 31, 2020 | May 31, 2019 | |
| Cash provided (used) by operations: | |||
| Net income | $ 5,727 | 2,539 | 4,029 |
| Adjustments to reconcile net income to net cash provided (used) by operations: | |||
| Depreciation | 744 | 721 | 705 |
| Deferred income taxes | (385) | (380) | 34 |
| Stock-based compensation | 611 | 429 | 325 |
| Amortization, impairment and other | 53 | 398 | 15 |
| Net foreign currency adjustments | (138) | 23 | 233 |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (1,606) | 1,239 | (270) |
| (Increase) decrease in inventories | 507 | (1,854) | (490) |
| (Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets | (182) | (654) | (203) |
| Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities | 1,326 | 24 | 1,525 |
| Cash provided (used) by operations | 6,657 | 2,485 | 5,903 |
| Cash provided (used) by investing activities: | |||
| Purchases of short-term investments | (9,961) | (2,426) | (2,937) |
| Maturities of short-term investments | 4,236 | 74 | 1,715 |
| Sales of short-term investments | 2,449 | 2,379 | 2,072 |
| Additions to property, plant and equipment | (695) | (1,086) | (1,119) |
| Other investing activities | 171 | 31 | 5 |
| Cash provided (used) by investing activities | (3,800) | (1,028) | (264) |
| Cash provided (used) by financing activities: | |||
| Proceeds from borrowings, net of debt issuance costs | 0 | 6,134 | 0 |
| Increase (decrease) in notes payable, net | (52) | 49 | (325) |
| Repayment of borrowings | (197) | (6) | (6) |
| Proceeds from exercise of stock options and other stock issuances | 1,172 | 885 | 700 |
| Repurchase of common stock | (608) | (3,067) | (4,286) |
| Dividends common and preferred | (1,638) | (1,452) | (1,332) |
| Other financing activities | (136) | (52) | (44) |
| Cash provided (used) by financing activities | (1,459) | 2,491 | (5,293) |
| Effect of exchange rate changes on cash and equivalents | 143 | (66) | (129) |
| Net increase (decrease) in cash and equivalents | 1,541 | 3,882 | 217 |
| Cash and equivalents, beginning of year | 8,348 | 4,466 | |
| CASH AND EQUIVALENTS, END OF YEAR | 9,889 | 8,348 | 4,466 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 293 | 140 | 153 |
| Income taxes | 1,177 | 1,028 | 757 |
| Non-cash additions to property, plant and equipment | 179 | 121 | 160 |
| Dividends declared and not paid | 438 | 385 | 347 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2021 10-K (Filed: July 20, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2021 | May 31, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 9,889 | 8,348 |
| Short-term investments | 3,587 | 439 |
| Accounts receivable, net | 4,463 | 2,749 |
| Inventories | 6,854 | 7,367 |
| Prepaid expenses and other current assets | 1,498 | 1,653 |
| Total current assets | 26,291 | 20,556 |
| Property, plant and equipment, net | 4,904 | 4,866 |
| Operating lease right-of-use assets, net | 3,113 | 3,097 |
| Identifiable intangible assets, net | 269 | 274 |
| Goodwill | 242 | 223 |
| Deferred income taxes and other assets | 2,921 | 2,326 |
| TOTAL ASSETS | 37,740 | 31,342 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | 0 | 3 |
| Notes payable | 2 | 248 |
| Accounts payable | 2,836 | 2,248 |
| Current portion of operating lease liabilities | 467 | 445 |
| Accrued liabilities | 6,063 | 5,184 |
| Income taxes payable | 306 | 156 |
| Total current liabilities | 9,674 | 8,284 |
| Long-term debt | 9,413 | 9,406 |
| Operating lease liabilities | 2,931 | 2,913 |
| Deferred income taxes and other liabilities | 2,955 | 2,684 |
| Commitments and contingencies (Note 18) | ||
| Redeemable preferred stock | 0 | 0 |
| Shareholders' equity: | ||
| Capital in excess of stated value | 9,965 | 8,299 |
| Accumulated other comprehensive income (loss) | (380) | (56) |
| Retained earnings (deficit) | 3,179 | (191) |
| Total shareholders' equity | 12,767 | 8,055 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 37,740 | 31,342 |
| 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 2021 | |
| 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 |