$NKE
NIKE, Inc.

2015 Q3 Form 10-Q Financial Statement

#000032018715000208 Filed on October 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $8.414B $7.982B
YoY Change 5.41% 14.5%
Cost Of Revenue $4.419B $4.261B
YoY Change 3.71% 10.99%
Gross Profit $3.995B $3.721B
YoY Change 7.36% 18.81%
Gross Profit Margin 47.48% 46.62%
Selling, General & Admin $2.577B $2.480B
YoY Change 3.91% 20.51%
% of Gross Profit 64.51% 66.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $154.0M $147.0M
YoY Change 4.76% 20.49%
% of Gross Profit 3.85% 3.95%
Operating Expenses $2.577B $2.480B
YoY Change 3.91% 20.51%
Operating Profit $1.418B $1.241B
YoY Change 14.26% 15.55%
Interest Expense -$4.000M -$9.000M
YoY Change -55.56% 12.5%
% of Operating Profit -0.28% -0.73%
Other Income/Expense, Net $31.00M -$3.000M
YoY Change -1133.33% -89.29%
Pretax Income $1.445B $1.229B
YoY Change 17.58% 18.4%
Income Tax $266.0M $267.0M
% Of Pretax Income 18.41% 21.72%
Net Earnings $1.179B $962.0M
YoY Change 22.56% 23.49%
Net Earnings / Revenue 14.01% 12.05%
Basic Earnings Per Share $0.69 $1.11
Diluted Earnings Per Share $0.67 $1.09
COMMON SHARES
Basic Shares Outstanding 1.709B shares 864.9M shares
Diluted Shares Outstanding 1.755B shares 886.2M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.408B $4.579B
YoY Change 18.1% -17.91%
Cash & Equivalents $3.246B $2.303B
Short-Term Investments $2.162B $2.276B
Other Short-Term Assets $2.128B $1.344B
YoY Change 58.33% -1.25%
Inventory $4.414B $4.030B
Prepaid Expenses
Receivables $3.288B $3.587B
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.24B $13.54B
YoY Change 12.54% -0.57%
LONG-TERM ASSETS
Property, Plant & Equipment $3.112B $2.895B
YoY Change 7.5% 13.22%
Goodwill $131.0M $131.0M
YoY Change 0.0% 0.0%
Intangibles $281.0M $282.0M
YoY Change -0.35% -57.66%
Long-Term Investments
YoY Change
Other Assets $2.004B $1.673B
YoY Change 19.78% 69.85%
Total Long-Term Assets $5.528B $4.981B
YoY Change 10.98% 22.81%
TOTAL ASSETS
Total Short-Term Assets $15.24B $13.54B
Total Long-Term Assets $5.528B $4.981B
Total Assets $20.77B $18.52B
YoY Change 12.12% 4.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.933B $1.970B
YoY Change -1.88% 26.36%
Accrued Expenses $3.139B $2.441B
YoY Change 28.59% 27.6%
Deferred Revenue
YoY Change
Short-Term Debt $23.00M $146.0M
YoY Change -84.25% 31.53%
Long-Term Debt Due $106.0M $6.000M
YoY Change 1666.67% -89.47%
Total Short-Term Liabilities $5.276B $4.813B
YoY Change 9.62% 24.59%
LONG-TERM LIABILITIES
Long-Term Debt $1.079B $1.195B
YoY Change -9.71% -0.99%
Other Long-Term Liabilities $10.00M
YoY Change
Total Long-Term Liabilities $1.079B $1.195B
YoY Change -9.71% -0.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.276B $4.813B
Total Long-Term Liabilities $1.079B $1.195B
Total Liabilities $6.355B $6.008B
YoY Change 5.78% 18.5%
SHAREHOLDERS EQUITY
Retained Earnings $5.029B $4.808B
YoY Change 4.6% -16.56%
Common Stock $7.029B $6.070B
YoY Change 15.8% 13.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.89B $11.11B
YoY Change
Total Liabilities & Shareholders Equity $20.77B $18.52B
YoY Change 12.12% 4.79%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.179B $962.0M
YoY Change 22.56% 23.49%
Depreciation, Depletion And Amortization $154.0M $147.0M
YoY Change 4.76% 20.49%
Cash From Operating Activities $491.0M $683.0M
YoY Change -28.11% 10.52%
INVESTING ACTIVITIES
Capital Expenditures $327.0M $262.0M
YoY Change 24.81% 6.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$385.0M $280.0M
YoY Change -237.5% -140.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $588.0M $819.0M
YoY Change -28.21% 55.7%
Debt Paid & Issued, Net $1.000M $2.000M
YoY Change -50.0% 0.0%
Cash From Financing Activities -$674.0M -$882.0M
YoY Change -23.58% 48.99%
NET CHANGE
Cash From Operating Activities $491.0M $683.0M
Cash From Investing Activities -$385.0M $280.0M
Cash From Financing Activities -$674.0M -$882.0M
Net Change In Cash -$568.0M $81.00M
YoY Change -801.23% -112.13%
FREE CASH FLOW
Cash From Operating Activities $491.0M $683.0M
Capital Expenditures $327.0M $262.0M
Free Cash Flow $164.0M $421.0M
YoY Change -61.05% 12.87%

Facts In Submission

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CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
135000000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-329000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-81000000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
139000000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-413000000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3000000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
31000000 USD
CY2014Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
819000000 USD
CY2015Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
588000000 USD
CY2014Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
209000000 USD
CY2015Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
240000000 USD
CY2014Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1296000000 USD
CY2015Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1188000000 USD
CY2014Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
262000000 USD
CY2015Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
327000000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1968000000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1751000000 USD
CY2014Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
127000000 USD
CY2015Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
128000000 USD
CY2014Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1074000000 USD
CY2015Q3 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
721000000 USD
CY2014Q3 us-gaap Proceeds From Payments For Securities Purchased Under Agreements To Resell
ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell
0 USD
CY2015Q3 us-gaap Proceeds From Payments For Securities Purchased Under Agreements To Resell
ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell
-50000000 USD
CY2014Q3 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-17000000 USD
CY2015Q3 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-48000000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
762000000 USD
CY2015Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3011000000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3112000000 USD
CY2014Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-13000000 USD
CY2015Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
450000000 USD
CY2014Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000000 USD
CY2015Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
150000000 USD
CY2014Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6000000 USD
CY2015Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
CY2014Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2000000 USD
CY2015Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4685000000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5029000000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
7982000000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
8414000000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2480000000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2577000000 USD
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
43000000 USD
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
54000000 USD
CY2015Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
74000000 USD
CY2015Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
23000000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
12707000000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
12894000000 USD
CY2015Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2015Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
438000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
460000000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
164000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
177000000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
258000000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
886200000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
877300000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
864900000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
854500000 shares
CY2015Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:12px;text-align:justify;padding-left:0px;text-indent:0px;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;color:#fd4703;font-style:normal;font-weight:bold;text-decoration:none;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:8px;text-align:justify;padding-left:0px;text-indent:0px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#000000;">Certain prior year amounts have been reclassified to conform to fiscal 2016 presentation.</font></div></div>

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