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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending May 31, 2022 10-K (Filed: July 21, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2022 | May 31, 2021 | May 31, 2020 | |
| Revenues | $ 46,710 | 44,538 | 37,403 |
| Cost of sales | 25,231 | 24,576 | 21,162 |
| Gross profit | 21,479 | 19,962 | 16,241 |
| Demand creation expense | 3,850 | 3,114 | 3,592 |
| Operating overhead expense | 10,954 | 9,911 | 9,534 |
| Total selling and administrative expense | 14,804 | 13,025 | 13,126 |
| Interest expense (income), net | 205 | 262 | 89 |
| Other (income) expense, net | (181) | 14 | 139 |
| Income before income taxes | 6,651 | 6,661 | 2,887 |
| Income tax expense | 605 | 934 | 348 |
| NET INCOME | 6,046 | 5,727 | 2,539 |
| Earnings per common share: | |||
| Basic (in dollars per share) | 3.83 | 3.64 | 1.63 |
| Diluted (in dollars per share) | 3.75 | 3.56 | 1.60 |
| Weighted average common shares outstanding: | |||
| Basic (in shares) | 1,578,800 | 1,573,000 | 1,558,800 |
| Diluted (in shares) | 1,610,800 | 1,609,400 | 1,591,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2022 10-K (Filed: July 21, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2022 | May 31, 2021 | May 31, 2020 | |
| Net income | $ 6,046 | 5,727 | 2,539 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | (522) | 496 | (148) |
| Change in net gains (losses) on cash flow hedges | 1,214 | (825) | (130) |
| Change in net gains (losses) on other | 6 | 5 | (9) |
| Total other comprehensive income (loss), net of tax | 698 | (324) | (287) |
| TOTAL COMPREHENSIVE INCOME | 6,744 | 5,403 | 2,252 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2022 10-K (Filed: July 21, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2022 | May 31, 2021 | May 31, 2020 | |
| Cash provided (used) by operations: | |||
| Net income | $ 6,046 | 5,727 | 2,539 |
| Adjustments to reconcile net income to net cash provided (used) by operations: | |||
| Depreciation | 717 | 744 | 721 |
| Deferred income taxes | (650) | (385) | (380) |
| Stock-based compensation | 638 | 611 | 429 |
| Amortization, impairment and other | 123 | 53 | 398 |
| Net foreign currency adjustments | (26) | (138) | 23 |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (504) | (1,606) | 1,239 |
| (Increase) decrease in inventories | (1,676) | 507 | (1,854) |
| (Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets | (845) | (182) | (654) |
| Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities | 1,365 | 1,326 | 24 |
| Cash provided (used) by operations | 5,188 | 6,657 | 2,485 |
| Cash provided (used) by investing activities: | |||
| Purchases of short-term investments | (12,913) | (9,961) | (2,426) |
| Maturities of short-term investments | 8,199 | 4,236 | 74 |
| Sales of short-term investments | 3,967 | 2,449 | 2,379 |
| Additions to property, plant and equipment | (758) | (695) | (1,086) |
| Other investing activities | (19) | 171 | 31 |
| Cash provided (used) by investing activities | (1,524) | (3,800) | (1,028) |
| Cash provided (used) by financing activities: | |||
| Proceeds from borrowings, net of debt issuance costs | 0 | 0 | 6,134 |
| Increase (decrease) in notes payable, net | 15 | (52) | 49 |
| Repayment of borrowings | 0 | (197) | (6) |
| Proceeds from exercise of stock options and other stock issuances | 1,151 | 1,172 | 885 |
| Repurchase of common stock | (4,014) | (608) | (3,067) |
| Dividends common and preferred | (1,837) | (1,638) | (1,452) |
| Other financing activities | (151) | (136) | (52) |
| Cash provided (used) by financing activities | (4,836) | (1,459) | 2,491 |
| Effect of exchange rate changes on cash and equivalents | (143) | 143 | (66) |
| Net increase (decrease) in cash and equivalents | (1,315) | 1,541 | 3,882 |
| Cash and equivalents, beginning of year | 9,889 | 8,348 | |
| CASH AND EQUIVALENTS, END OF YEAR | 8,574 | 9,889 | 8,348 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 290 | 293 | 140 |
| Income taxes | 1,231 | 1,177 | 1,028 |
| Non-cash additions to property, plant and equipment | 160 | 179 | 121 |
| Dividends declared and not paid | 480 | 438 | 385 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2022 10-K (Filed: July 21, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2022 | May 31, 2021 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 8,574 | 9,889 |
| Short-term investments | 4,423 | 3,587 |
| Accounts receivable, net | 4,667 | 4,463 |
| Inventories | 8,420 | 6,854 |
| Prepaid expenses and other current assets | 2,129 | 1,498 |
| Total current assets | 28,213 | 26,291 |
| Property, plant and equipment, net | 4,791 | 4,904 |
| Operating lease right-of-use assets, net | 2,926 | 3,113 |
| Identifiable intangible assets, net | 286 | 269 |
| Goodwill | 284 | 242 |
| Deferred income taxes and other assets | 3,821 | 2,921 |
| TOTAL ASSETS | 40,321 | 37,740 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | 500 | 0 |
| Notes payable | 10 | 2 |
| Accounts payable | 3,358 | 2,836 |
| Current portion of operating lease liabilities | 420 | 467 |
| Accrued liabilities | 6,220 | 6,063 |
| Income taxes payable | 222 | 306 |
| Total current liabilities | 10,730 | 9,674 |
| Long-term debt | 8,920 | 9,413 |
| Operating lease liabilities | 2,777 | 2,931 |
| Deferred income taxes and other liabilities | 2,613 | 2,955 |
| Commitments and contingencies (Note 18) | ||
| Redeemable preferred stock | 0 | 0 |
| Shareholders' equity: | ||
| Capital in excess of stated value | 11,484 | 9,965 |
| Accumulated other comprehensive income (loss) | 318 | (380) |
| Retained earnings (deficit) | 3,476 | 3,179 |
| Total shareholders' equity | 15,281 | 12,767 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 40,321 | 37,740 |
| 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 2022 | |
| 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 |