$NKE
NIKE, Inc. Stock $nke

$nke Overview Financials Valuation SEC Filings Company Website

2016 Q3 Form 10-Q Financial Statement

#000032018716000381 Filed on October 11, 2016

Income Statement

Concept	2016 Q3	2015 Q3
Revenue	$9.061B	$8.414B
YoY Change	7.69%	5.41%
Cost Of Revenue	$4.938B	$4.419B
YoY Change	11.74%	3.71%
Gross Profit	$4.123B	$3.995B
YoY Change	3.2%	7.36%
Gross Profit Margin	45.5%	47.48%
Selling, General & Admin	$2.897B	$2.577B
YoY Change	12.42%	3.91%
% of Gross Profit	70.26%	64.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$173.0M	$154.0M
YoY Change	12.34%	4.76%
% of Gross Profit	4.2%	3.85%
Operating Expenses	$2.897B	$2.577B
YoY Change	12.42%	3.91%
Operating Profit	$1.226B	$1.418B
YoY Change	-13.54%	14.26%
Interest Expense	-$7.000M	-$4.000M
YoY Change	75.0%	-55.56%
% of Operating Profit	-0.57%	-0.28%
Other Income/Expense, Net	$62.00M	$31.00M
YoY Change	100.0%	-1133.33%
Pretax Income	$1.281B	$1.445B
YoY Change	-11.35%	17.58%
Income Tax	$32.00M	$266.0M
% Of Pretax Income	2.5%	18.41%
Net Earnings	$1.249B	$1.179B
YoY Change	5.94%	22.56%
Net Earnings / Revenue	13.78%	14.01%
Basic Earnings Per Share	$0.75	$0.69
Diluted Earnings Per Share	$0.73	$0.67
COMMON SHARES
Basic Shares Outstanding	1.672B shares	1.709B shares
Diluted Shares Outstanding	1.709B shares	1.755B shares

Balance Sheet

Concept	2016 Q3	2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.787B	$5.408B
YoY Change	-11.48%	18.1%
Cash & Equivalents	$2.659B	$3.246B
Short-Term Investments	$2.128B	$2.162B
Other Short-Term Assets	$1.380B	$2.128B
YoY Change	-35.15%	58.33%
Inventory	$4.896B	$4.414B
Prepaid Expenses
Receivables	$3.526B	$3.288B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$14.59B	$15.24B
YoY Change	-4.26%	12.54%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.572B	$3.112B
YoY Change	14.78%	7.5%
Goodwill	$139.0M	$131.0M
YoY Change	6.11%	0.0%
Intangibles	$284.0M	$281.0M
YoY Change	1.07%	-0.35%
Long-Term Investments
YoY Change
Other Assets	$2.572B	$2.004B
YoY Change	28.34%	19.78%
Total Long-Term Assets	$6.567B	$5.528B
YoY Change	18.8%	10.98%
TOTAL ASSETS
Total Short-Term Assets	$14.59B	$15.24B
Total Long-Term Assets	$6.567B	$5.528B
Total Assets	$21.16B	$20.77B
YoY Change	1.88%	12.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.088B	$1.933B
YoY Change	8.02%	-1.88%
Accrued Expenses	$3.147B	$3.139B
YoY Change	0.25%	28.59%
Deferred Revenue
YoY Change
Short-Term Debt	$22.00M	$23.00M
YoY Change	-4.35%	-84.25%
Long-Term Debt Due	$44.00M	$106.0M
YoY Change	-58.49%	1666.67%
Total Short-Term Liabilities	$5.363B	$5.276B
YoY Change	1.65%	9.62%
LONG-TERM LIABILITIES
Long-Term Debt	$1.993B	$1.079B
YoY Change	84.71%	-9.71%
Other Long-Term Liabilities	$37.00M	$10.00M
YoY Change	270.0%
Total Long-Term Liabilities	$1.993B	$1.079B
YoY Change	84.71%	-9.71%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.363B	$5.276B
Total Long-Term Liabilities	$1.993B	$1.079B
Total Liabilities	$7.356B	$6.355B
YoY Change	15.75%	5.78%
SHAREHOLDERS EQUITY
Retained Earnings	$4.078B	$5.029B
YoY Change	-18.91%	4.6%
Common Stock	$7.999B	$7.029B
YoY Change	13.8%	15.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$12.17B	$12.89B
YoY Change
Total Liabilities & Shareholders Equity	$21.16B	$20.77B
YoY Change	1.88%	12.12%

Cashflow Statement

Concept	2016 Q3	2015 Q3
OPERATING ACTIVITIES
Net Income	$1.249B	$1.179B
YoY Change	5.94%	22.56%
Depreciation, Depletion And Amortization	$173.0M	$154.0M
YoY Change	12.34%	4.76%
Cash From Operating Activities	$788.0M	$491.0M
YoY Change	60.49%	-28.11%
INVESTING ACTIVITIES
Capital Expenditures	$277.0M	$327.0M
YoY Change	-15.29%	24.81%
Acquisitions
YoY Change
Other Investing Activities	$42.00M	$0.00
YoY Change
Cash From Investing Activities	-$76.00M	-$385.0M
YoY Change	-80.26%	-237.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$1.054B	$588.0M
YoY Change	79.25%	-28.21%
Debt Paid & Issued, Net	$2.000M	$1.000M
YoY Change	100.0%	-50.0%
Cash From Financing Activities	-$1.202B	-$674.0M
YoY Change	78.34%	-23.58%
NET CHANGE
Cash From Operating Activities	$788.0M	$491.0M
Cash From Investing Activities	-$76.00M	-$385.0M
Cash From Financing Activities	-$1.202B	-$674.0M
Net Change In Cash	-$490.0M	-$568.0M
YoY Change	-13.73%	-801.23%
FREE CASH FLOW
Cash From Operating Activities	$788.0M	$491.0M
Capital Expenditures	$277.0M	$327.0M
Free Cash Flow	$511.0M	$164.0M
YoY Change	211.59%	-61.05%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2016Q3	nke	Reclassification From Accumulated Other Comprehensive Income Current Period Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodTax	1000000	USD
CY2015Q4	nke	Stockholders Equity Note Stock Split Conversion Dividend Payable Percent StockholdersEquityNoteStockSplitConversionDividendPayablePercent	1
CY2016	nke	Fair Value Transfers Between Fair Value Hierarchy Levels FairValueTransfersBetweenFairValueHierarchyLevels	0	USD
CY2016Q3	nke	Fair Value Transfers Between Fair Value Hierarchy Levels FairValueTransfersBetweenFairValueHierarchyLevels	0	USD
CY2016Q2	nke	Maximum Percent Of Accrued Liabilities To Be Included In Other Accrued Liabilities MaximumPercentOfAccruedLiabilitiesToBeIncludedInOtherAccruedLiabilities	0.05
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CY2016Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3241000000	USD
CY2016Q3	nke	Maximum Percent Of Accrued Liabilities To Be Included In Other Accrued Liabilities MaximumPercentOfAccruedLiabilitiesToBeIncludedInOtherAccruedLiabilities	0.05
CY2015Q3	nke	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Other Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnOtherNetOfTax	3000000	USD
CY2016Q2	nke	Accrued Import And Logistics Costs Current AccruedImportAndLogisticsCostsCurrent	198000000	USD
CY2016Q3	nke	Accrued Import And Logistics Costs Current AccruedImportAndLogisticsCostsCurrent	208000000	USD
CY2015Q3	nke	Amortization And Other AmortizationAndOther	11000000	USD
CY2016Q3	nke	Amortization And Other AmortizationAndOther	7000000	USD
CY2016Q3	nke	Change In Income Tax Penalties And Interest Accrued ChangeInIncomeTaxPenaltiesAndInterestAccrued	13000000	USD
CY2015Q3	nke	Earnings Before Interest And Taxes EarningsBeforeInterestAndTaxes	1449000000	USD
CY2016Q3	nke	Earnings Before Interest And Taxes EarningsBeforeInterestAndTaxes	1288000000	USD
CY2016Q3	dei	Amendment Flag AmendmentFlag	false
CY2016Q3	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--05-31
CY2016Q3	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2016Q3	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
CY2016Q3	dei	Document Period End Date DocumentPeriodEndDate	2016-08-31
CY2016Q3	dei	Document Type DocumentType	10-Q
CY2016Q3	dei	Entity Central Index Key EntityCentralIndexKey	0000320187
CY2016Q3	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2016Q3	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2016Q3	dei	Entity Registrant Name EntityRegistrantName	NIKE INC
CY2016Q3	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2016Q3	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2016Q3	dei	Trading Symbol TradingSymbol	NKE
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CY2016Q2	nke	Accrued Endorsement Liabilities Current AccruedEndorsementLiabilitiesCurrent	393000000	USD
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CY2016Q3	us-gaap	Other Comprehensive Income Loss Before Reclassifications Tax OtherComprehensiveIncomeLossBeforeReclassificationsTax	-47000000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-329000000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-240000000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-81000000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	3000000	USD
CY2015Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-413000000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-233000000	USD
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	31000000	USD
CY2016Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	62000000	USD
CY2015Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	0	USD
CY2016Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	42000000	USD
CY2015Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	588000000	USD
CY2016Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	1054000000	USD
CY2015Q3	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	240000000	USD
CY2016Q3	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	269000000	USD
CY2015Q3	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	1188000000	USD
CY2016Q3	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	1279000000	USD
CY2015Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	327000000	USD
CY2016Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	277000000	USD
CY2016Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1489000000	USD
CY2016Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1380000000	USD
CY2015Q3	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	128000000	USD
CY2016Q3	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	112000000	USD
CY2015Q3	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	721000000	USD
CY2016Q3	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	562000000	USD
CY2015Q3	us-gaap	Proceeds From Payments For Securities Purchased Under Agreements To Resell ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell	-50000000	USD
CY2016Q3	us-gaap	Proceeds From Payments For Securities Purchased Under Agreements To Resell ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell	0	USD
CY2015Q3	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-48000000	USD
CY2016Q3	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	21000000	USD
CY2015Q3	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	450000000	USD
CY2016Q3	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	960000000	USD
CY2015Q3	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	9000000	USD
CY2016Q3	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
CY2016Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3520000000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3572000000	USD
CY2015Q3	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	190000000	USD
CY2016Q3	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	189000000	USD
CY2015Q3	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	0	USD
CY2016Q3	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	2000000	USD
CY2015Q3	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1000000	USD
CY2016Q3	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	2000000	USD
CY2016Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	4151000000	USD
CY2016Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	4078000000	USD
CY2015Q3	us-gaap	Sales Revenue Net SalesRevenueNet	8414000000	USD
CY2016Q3	us-gaap	Sales Revenue Net SalesRevenueNet	9061000000	USD
CY2015Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2577000000	USD
CY2016Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2897000000	USD
CY2015Q3	us-gaap	Share Based Compensation ShareBasedCompensation	54000000	USD
CY2016Q3	us-gaap	Share Based Compensation ShareBasedCompensation	57000000	USD
CY2016Q2	us-gaap	Short Term Borrowings ShortTermBorrowings	1000000	USD
CY2016Q3	us-gaap	Short Term Borrowings ShortTermBorrowings	22000000	USD
CY2016Q2	us-gaap	Stockholders Equity StockholdersEquity	12258000000	USD
CY2016Q3	us-gaap	Stockholders Equity StockholdersEquity	12165000000	USD
CY2015Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1246000000	USD
CY2015Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	833000000	USD
CY2016Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	318000000	USD
CY2016Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	85000000	USD
CY2015Q4	us-gaap	Stockholders Equity Note Stock Split Conversion Ratio1 StockholdersEquityNoteStockSplitConversionRatio1	2
CY2016Q2	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2016Q3	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2016Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	506000000	USD
CY2016Q3	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	387000000	USD
CY2016Q2	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	209000000	USD
CY2016Q3	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	196000000	USD
CY2016Q3	us-gaap	Unrecognized Tax Benefits That Would Impact Effective Tax Rate UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate	162000000	USD
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1754500000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1708900000	shares
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1709000000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1672000000	shares
CY2016Q3	us-gaap	Derivatives Embedded Derivatives DerivativesEmbeddedDerivatives	<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;">Embedded Derivatives</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;">As part of the foreign currency adjustment program described above, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order for currencies within the factory currency exposure indices that are neither the U.S. Dollar nor the local or functional currency of the factory. Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related purchase order and recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> from the date a purchase order is accepted by a factory through the date the purchase price is no longer subject to foreign currency fluctuations.</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;">In addition, the Company has entered into certain other contractual agreements which have payments that are indexed to currencies that are not the functional currency of either substantial party to the contracts. These payment terms expose NIKE to variability in foreign exchange rates and create embedded derivative contracts that must be bifurcated from the related contract and recorded at fair value as derivative assets or liabilities on the Unaudited Condensed Consolidated Balance Sheets with their corresponding changes in fair value recognized in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> until each payment is settled.</font></div></div>
CY2016Q3	us-gaap	Derivatives Hedge Discontinuances DerivativesHedgeDiscontinuances	<div style="font-family:Times New Roman;font-size:10pt;"><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;">The Company discontinues hedge accounting prospectively when: (1) it determines that the derivative is no longer highly effective in offsetting changes in the cash flows of a hedged item (including hedged items such as firm commitments or forecasted transactions); (2) the derivative expires or is sold, terminated or exercised; (3) it is no longer probable that the forecasted transaction will occur; or (4) management determines that designating the derivative as a hedging instrument is no longer appropriate.</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;">When the Company discontinues hedge accounting because it is no longer probable that the forecasted transaction will occur in the originally expected period, but is expected to occur within an additional two-month period of time thereafter, the gain or loss on the derivative remains in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> and is reclassified to </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Net income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> when the forecasted transaction affects consolidated </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Net income</font><font style="font-family:Arial;font-size:8pt;color:#000000;">. However, if it is probable that a forecasted transaction will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter, the gains and losses that were in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> will be recognized immediately in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;">. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will carry the derivative at its fair value on the Unaudited Condensed Consolidated Balance Sheets, recognizing future changes in the fair value in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;">. </font></div></div>
CY2016Q3	us-gaap	Derivatives Methods Of Accounting Hedge Effectiveness DerivativesMethodsOfAccountingHedgeEffectiveness	<div style="font-family:Times New Roman;font-size:10pt;"><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;">The Company formally assesses, both at a hedge’s inception and on an ongoing basis, whether the derivatives that are used in the hedging transaction have been highly effective in offsetting changes in the cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. Effectiveness for cash flow hedges is assessed based on changes in forward rates. </font></div></div>
CY2016Q3	us-gaap	Derivatives Methods Of Accounting Hedging Derivatives DerivativesMethodsOfAccountingHedgingDerivatives	<div style="font-family:Times New Roman;font-size:10pt;"><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;">The Company elects to record the gross assets and liabilities of its derivative financial instruments on the Unaudited Condensed Consolidated Balance Sheets. The Company’s derivative financial instruments are subject to master netting arrangements that allow for the offset of assets and liabilities in the event of default or early termination of the contract. Any amounts of cash collateral received related to these instruments associated with the Company's credit-related contingent features are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash and equivalents</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> and </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accrued liabilities</font><font style="font-family:Arial;font-size:8pt;color:#000000;">, the latter of which would further offset against the Company’s derivative asset balance (refer to </font><font style="font-family:Arial;font-size:8pt;color:#000000;">Note 8 — Risk Management and Derivatives</font><font style="font-family:Arial;font-size:8pt;color:#000000;">). Any amounts of cash collateral posted related to these instruments associated with the Company's credit-related contingent features are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Prepaid and other current assets</font><font style="font-family:Arial;font-size:8pt;color:#000000;">, which would offset against the Company’s derivative liability balance (refer to </font><font style="font-family:Arial;font-size:8pt;color:#000000;">Note 8 — Risk Management and Derivatives</font><font style="font-family:Arial;font-size:8pt;color:#000000;">). Cash collateral received or posted related to the Company's credit-related contingent features is presented in the </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash provided by operations</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> component of the Unaudited Condensed Consolidated Statements of Cash Flows. Any amounts of non-cash collateral received, such as securities, are not recorded on the Unaudited Condensed Consolidated Balance Sheets pursuant to U.S. GAAP. </font></div></div><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;">Fair Value Hedges</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;">The Company has, in the past, been exposed to the risk of changes in the fair value of certain fixed-rate debt attributable to changes in interest rates. Derivatives used by the Company to hedge this risk are receive-fixed, pay-variable interest rate swaps. All interest rate swaps designated as fair value hedges of the related long-term debt meet the shortcut method requirements under U.S. GAAP. Accordingly, changes in the fair values of the interest rate swaps are considered to exactly offset changes in the fair value of the underlying long-term debt. The cash flows associated with the Company’s fair value hedges are periodic interest payments while the swaps are outstanding, which are reflected within the </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash provided by operations</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> component of the Unaudited Condensed Consolidated Statements of Cash Flows.</font></div></div><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;">Net Investment Hedges</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;">The Company has, in the past, hedged and may, in the future, hedge the risk of variability in foreign-currency-denominated net investments in wholly-owned international operations. All changes in fair value of the derivatives designated as net investment hedges, except ineffective portions, are reported in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> along with the foreign currency translation adjustments on those investments. The Company classifies the cash flows at settlement of its net investment hedges within the </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash used by investing activities</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> component of the Unaudited Condensed Consolidated Statements of Cash Flows. The Company assesses hedge effectiveness based on changes in forward rates.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><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;">All changes in fair value of derivatives designated as cash flow hedges, excluding any ineffective portion, are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> until </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Net income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> is affected by the variability of cash flows of the hedged transaction. In most cases, amounts recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> will be released to </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Net income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> in periods following the maturity of the related derivative, rather than at maturity. Effective hedge results are classified within the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. The results of hedges of non-functional currency denominated revenues and product cost exposures, excluding embedded derivatives, are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Revenues</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> or </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cost of sales </font><font style="font-family:Arial;font-size:8pt;color:#000000;">when the</font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;"> </font><font style="font-family:Arial;font-size:8pt;color:#000000;">underlying hedged transaction affects consolidated </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Net income.</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> Results of hedges of selling and administrative expense are recorded together with those costs when the related expense is recorded. Amounts recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> related to forward-starting interest rate swaps will be released through </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Interest expense (income), net</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> as interest payments are made over the term of the issued debt. Results of hedges of anticipated purchases of U.S. Dollar-denominated available-for-sale securities are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> when the securities are sold. Results of hedges of certain anticipated intercompany transactions are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> when the transaction occurs. The Company classifies the cash flows at settlement from these designated cash flow hedge derivatives in the same category as the cash flows from the related hedged items, primarily within the </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash provided by operations</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> component of the Unaudited Condensed Consolidated Statements of Cash Flows.</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;">Premiums paid or received on options are initially recorded as deferred charges or deferred credits, respectively. The Company assesses the effectiveness of options based on the total cash flows method and records total changes in the options’ fair value to </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Accumulated other comprehensive income</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> to the degree they are effective.</font></div></div><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;">Cash Flow Hedges</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;">The purpose of the Company's foreign exchange risk management program is to lessen both the positive and negative effects of currency fluctuations on the Company's consolidated results of operations, financial position and cash flows. Foreign currency exposures that the Company may elect to hedge in this manner include product cost exposures, non-functional currency denominated external and intercompany revenues, selling and administrative expenses, investments in U.S. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions.</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;">Product cost exposures are primarily generated through non-functional currency denominated product purchases and the foreign currency adjustment program described below. NIKE entities primarily purchase product in two ways: (1) Certain NIKE entities purchase product from the NIKE Trading Company (NTC), a wholly-owned sourcing hub that buys NIKE branded product from third-party factories, predominantly in U.S. Dollars. The NTC, whose functional currency is the U.S. Dollar, then sells the product to NIKE entities in their respective functional currencies. When the NTC sells to a NIKE entity with a different functional currency, the result is a foreign currency exposure for the NTC. (2) Other NIKE entities purchase product directly from third-party factories in U.S. Dollars. These purchases generate a foreign currency exposure for those NIKE entities with a functional currency other than the U.S. Dollar.</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;">The Company operates a foreign currency adjustment program with certain factories. The program is designed to more effectively manage foreign currency risk by assuming certain of the factories’ foreign currency exposures, some of which are natural offsets to the Company's existing foreign currency exposures. Under this program, the Company’s payments to these factories are adjusted for rate fluctuations in the basket of currencies (“factory currency exposure index”) in which the labor, materials and overhead costs incurred by the factories in the production of NIKE branded products (“factory input costs”) are denominated. For the portion of the indices denominated in the local or functional currency of the factory, the Company may elect to enter into derivative contracts formally designated as cash flow hedges. For all currencies within the indices, excluding the U.S. Dollar and the local or functional currency of the factory, an embedded derivative contract is created upon the factory’s acceptance of NIKE’s purchase order. Embedded derivative contracts are separated from the related purchase order, as further described within the Embedded Derivatives section below.</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;">The Company’s policy permits the utilization of derivatives to reduce its foreign currency exposures where internal netting or other strategies cannot be effectively employed. Typically, the Company may enter into hedge contracts starting up to </font><font style="font-family:Arial;font-size:8pt;color:#000000;text-decoration:none;">12</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> to </font><font style="font-family:Arial;font-size:8pt;color:#000000;text-decoration:none;">24</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> months in advance of the forecasted transaction and may place incremental hedges up to </font><font style="font-family:Arial;font-size:8pt;color:#000000;text-decoration:none;">100%</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> of the exposure by the time the forecasted transaction occurs.</font></div></div>
CY2016Q3	us-gaap	Derivatives Methods Of Accounting Nonhedging Derivatives DerivativesMethodsOfAccountingNonhedgingDerivatives	<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;">Undesignated Derivative Instruments</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;">The Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Unaudited Condensed Consolidated Balance Sheets and/or embedded derivative contracts. These forwards are not designated as hedging instruments under U.S. GAAP. Accordingly, these undesignated instruments are recorded at fair value as a derivative asset or liability on the Unaudited Condensed Consolidated Balance Sheets with their corresponding change in fair value recognized in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Other (income) expense, net</font><font style="font-family:Arial;font-size:8pt;color:#000000;">, together with the re-measurement gain or loss from the hedged balance sheet position or embedded derivative contract. The Company classifies the cash flows at settlement from undesignated instruments in the same category as the cash flows from the related hedged items, generally within the </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Cash provided by operations</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> component of the Unaudited Condensed Consolidated Statements of Cash Flows.</font></div></div>
CY2016Q3	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 </font><font style="font-family:Arial;font-size:8pt;color:#000000;">fiscal 2017</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> presentation.</font></div></div>

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Name	View Source	Status
0000320187-16-000381-index-headers.html	Edgar Link	pending
0000320187-16-000381-index.html	Edgar Link	pending
0000320187-16-000381.txt	Edgar Link	pending
0000320187-16-000381-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
nke-20160831.xml	Edgar Link	completed
nke-20160831.xsd	Edgar Link	pending
nke-20160831_cal.xml	Edgar Link	unprocessable
nke-20160831_def.xml	Edgar Link	unprocessable
nke-20160831_lab.xml	Edgar Link	unprocessable
nke-20160831_pre.xml	Edgar Link	unprocessable
nke-8312016x10q.htm	Edgar Link	pending
nke-8312016xexhibit311.htm	Edgar Link	pending
nke-8312016xexhibit312.htm	Edgar Link	pending
nke-8312016xexhibit32.htm	Edgar Link	pending
orangeswoosha07.jpg	Edgar Link	pending
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$NKE
NIKE, Inc. Stock $nke

2016 Q3 Form 10-Q Financial Statement

#000032018716000381 Filed on October 11, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NKE NIKE, Inc. Stock $nke

2016 Q3 Form 10-Q Financial Statement

#000032018716000381 Filed on October 11, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NKE
NIKE, Inc. Stock $nke