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: 2023 | |||
Consolidated Statements of Income | |||
Period Ending May 31, 2023 10-K (Filed: July 20, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2023 | May 31, 2022 | May 31, 2021 | |
| Revenues | $ 51,217 | 46,710 | 44,538 |
| Cost of sales | 28,925 | 25,231 | 24,576 |
| Gross profit | 22,292 | 21,479 | 19,962 |
| Demand creation expense | 4,060 | 3,850 | 3,114 |
| Operating overhead expense | 12,317 | 10,954 | 9,911 |
| Total selling and administrative expense | 16,377 | 14,804 | 13,025 |
| Interest expense (income), net | (6) | 205 | 262 |
| Other (income) expense, net | (280) | (181) | 14 |
| Income before income taxes | 6,201 | 6,651 | 6,661 |
| Income tax expense | 1,131 | 605 | 934 |
| NET INCOME | 5,070 | 6,046 | 5,727 |
| Earnings per common share: | |||
| Basic (in dollars per share) | 3.27 | 3.83 | 3.64 |
| Diluted (in dollars per share) | 3.23 | 3.75 | 3.56 |
| Weighted average common shares outstanding: | |||
| Basic (in shares) | 1,551,600 | 1,578,800 | 1,573,000 |
| Diluted (in shares) | 1,569,800 | 1,610,800 | 1,609,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2023 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending May 31, 2023 10-K (Filed: July 20, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2023 | May 31, 2022 | May 31, 2021 | |
| Net income | $ 5,070 | 6,046 | 5,727 |
| Other comprehensive income (loss), net of tax: | |||
| Change in net foreign currency translation adjustment | 267 | (522) | 496 |
| Change in net gains (losses) on cash flow hedges | (348) | 1,214 | (825) |
| Change in net gains (losses) on other | (6) | 6 | 5 |
| Total other comprehensive income (loss), net of tax | (87) | 698 | (324) |
| TOTAL COMPREHENSIVE INCOME | 4,983 | 6,744 | 5,403 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
NIKE, INC. | |||
Ticker: NKE Fiscal Year: 2023 | |||
Consolidated Statements of Cash Flows | |||
Period Ending May 31, 2023 10-K (Filed: July 20, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| May 31, 2023 | May 31, 2022 | May 31, 2021 | |
| Cash provided (used) by operations: | |||
| Net income | $ 5,070 | 6,046 | 5,727 |
| Adjustments to reconcile net income to net cash provided (used) by operations: | |||
| Depreciation | 703 | 717 | 744 |
| Deferred income taxes | (117) | (650) | (385) |
| Stock-based compensation | 755 | 638 | 611 |
| Amortization, impairment and other | 156 | 123 | 53 |
| Net foreign currency adjustments | (213) | (26) | (138) |
| Changes in certain working capital components and other assets and liabilities: | |||
| (Increase) decrease in accounts receivable | 489 | (504) | (1,606) |
| (Increase) decrease in inventories | (133) | (1,676) | 507 |
| (Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets | (644) | (845) | (182) |
| Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities | (225) | 1,365 | 1,326 |
| Cash provided (used) by operations | 5,841 | 5,188 | 6,657 |
| Cash provided (used) by investing activities: | |||
| Purchases of short-term investments | (6,059) | (12,913) | (9,961) |
| Maturities of short-term investments | 3,356 | 8,199 | 4,236 |
| Sales of short-term investments | 4,184 | 3,967 | 2,449 |
| Additions to property, plant and equipment | (969) | (758) | (695) |
| Other investing activities | 52 | (19) | 171 |
| Cash provided (used) by investing activities | 564 | (1,524) | (3,800) |
| Cash provided (used) by financing activities: | |||
| Increase (decrease) in notes payable, net | (4) | 15 | (52) |
| Repayment of borrowings | (500) | 0 | (197) |
| Proceeds from exercise of stock options and other stock issuances | 651 | 1,151 | 1,172 |
| Repurchase of common stock | (5,480) | (4,014) | (608) |
| Dividends common and preferred | (2,012) | (1,837) | (1,638) |
| Other financing activities | (102) | (151) | (136) |
| Cash provided (used) by financing activities | (7,447) | (4,836) | (1,459) |
| Effect of exchange rate changes on cash and equivalents | (91) | (143) | 143 |
| Net increase (decrease) in cash and equivalents | (1,133) | (1,315) | 1,541 |
| Cash and equivalents, beginning of year | 8,574 | 9,889 | 8,348 |
| CASH AND EQUIVALENTS, END OF YEAR | 7,441 | 8,574 | 9,889 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the year for: | |||
| Interest, net of capitalized interest | 347 | 290 | 293 |
| Income taxes | 1,517 | 1,231 | 1,177 |
| Non-cash additions to property, plant and equipment | 211 | 160 | 179 |
| Dividends declared and not paid | 524 | 480 | 438 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
NIKE, INC. | ||
Ticker: NKE Fiscal Year: 2023 | ||
Consolidated Balance Sheets | ||
Period Ending May 31, 2023 10-K (Filed: July 20, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| May 31, 2023 | May 31, 2022 | |
| ASSETS | ||
| Current assets: | ||
| Cash and equivalents | $ 7,441 | 8,574 |
| Short-term investments | 3,234 | 4,423 |
| Accounts receivable, net | 4,131 | 4,667 |
| Inventories | 8,454 | 8,420 |
| Prepaid expenses and other current assets | 1,942 | 2,129 |
| Total current assets | 25,202 | 28,213 |
| Property, plant and equipment, net | 5,081 | 4,791 |
| Operating lease right-of-use assets, net | 2,923 | 2,926 |
| Identifiable intangible assets, net | 274 | 286 |
| Goodwill | 281 | 284 |
| Deferred income taxes and other assets | 3,770 | 3,821 |
| TOTAL ASSETS | 37,531 | 40,321 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | 0 | 500 |
| Notes payable | 6 | 10 |
| Accounts payable | 2,862 | 3,358 |
| Current portion of operating lease liabilities | 425 | 420 |
| Accrued liabilities | 5,723 | 6,220 |
| Income taxes payable | 240 | 222 |
| Total current liabilities | 9,256 | 10,730 |
| Long-term debt | 8,927 | 8,920 |
| Operating lease liabilities | 2,786 | 2,777 |
| Deferred income taxes and other liabilities | 2,558 | 2,613 |
| Commitments and contingencies (Note 16) | ||
| Redeemable preferred stock | 0 | 0 |
| Shareholders' equity: | ||
| Capital in excess of stated value | 12,412 | 11,484 |
| Accumulated other comprehensive income (loss) | 231 | 318 |
| Retained earnings (deficit) | 1,358 | 3,476 |
| Total shareholders' equity | 14,004 | 15,281 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 37,531 | 40,321 |
| 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 2023 | |