$NKE
NIKE, Inc. Stock $nke

$nke Overview Financials Valuation SEC Filings Company Website

2018 Q1 Form 10-Q Financial Statement

#000032018718000041 Filed on April 05, 2018

Income Statement

Concept	2018 Q1	2017 Q1
Revenue	$8.984B	$8.432B
YoY Change	6.55%	4.98%
Cost Of Revenue	$5.046B	$4.682B
YoY Change	7.77%	7.81%
Gross Profit	$3.938B	$3.750B
YoY Change	5.01%	1.65%
Gross Profit Margin	43.83%	44.47%
Selling, General & Admin	$2.767B	$2.496B
YoY Change	10.86%	-2.73%
% of Gross Profit	70.26%	66.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$198.0M	$170.0M
YoY Change	16.47%	-3.95%
% of Gross Profit	5.03%	4.53%
Operating Expenses	$2.767B	$2.496B
YoY Change	10.86%	-2.73%
Operating Profit	$1.171B	$1.254B
YoY Change	-6.62%	11.67%
Interest Expense	-$13.00M	-$19.00M
YoY Change	-31.58%	280.0%
% of Operating Profit	-1.11%	-1.52%
Other Income/Expense, Net	$1.000M	$88.00M
YoY Change	-98.86%	417.65%
Pretax Income	$1.159B	$1.323B
YoY Change	-12.4%	16.56%
Income Tax	$2.080B	$182.0M
% Of Pretax Income	179.47%	13.76%
Net Earnings	-$921.0M	$1.141B
YoY Change	-180.72%	20.11%
Net Earnings / Revenue	-10.25%	13.53%
Basic Earnings Per Share	-$0.57	$0.69
Diluted Earnings Per Share	-$0.57	$0.68
COMMON SHARES
Basic Shares Outstanding	1.624B shares	1.653B shares
Diluted Shares Outstanding	1.624B shares	1.686B shares

Balance Sheet

Concept	2018 Q1	2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.751B	$6.160B
YoY Change	-22.87%	20.64%
Cash & Equivalents	$3.662B	$4.021B
Short-Term Investments	$1.089B	$2.139B
Other Short-Term Assets	$1.446B	$1.361B
YoY Change	6.25%	-37.91%
Inventory	$5.366B	$4.932B
Prepaid Expenses
Receivables	$3.792B	$3.752B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$15.36B	$16.21B
YoY Change	-5.25%	6.22%
LONG-TERM ASSETS
Property, Plant & Equipment	$4.298B	$3.793B
YoY Change	13.31%	13.94%
Goodwill	$139.0M	$139.0M
YoY Change	0.0%	6.11%
Intangibles	$282.0M	$283.0M
YoY Change	-0.35%	0.71%
Long-Term Investments
YoY Change
Other Assets	$2.478B	$2.732B
YoY Change	-9.3%	37.29%
Total Long-Term Assets	$7.197B	$6.947B
YoY Change	3.6%	21.22%
TOTAL ASSETS
Total Short-Term Assets	$15.36B	$16.21B
Total Long-Term Assets	$7.197B	$6.947B
Total Assets	$22.55B	$23.15B
YoY Change	-2.59%	10.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.961B	$1.938B
YoY Change	1.19%	13.07%
Accrued Expenses	$3.727B	$3.228B
YoY Change	15.46%	0.12%
Deferred Revenue
YoY Change
Short-Term Debt	$11.00M	$23.00M
YoY Change	-52.17%
Long-Term Debt Due	$6.000M	$6.000M
YoY Change	0.0%	-14.29%
Total Short-Term Liabilities	$5.783B	$5.271B
YoY Change	9.71%	5.84%
LONG-TERM LIABILITIES
Long-Term Debt	$3.469B	$3.472B
YoY Change	-0.09%	69.53%
Other Long-Term Liabilities	$117.0M	$8.000M
YoY Change	1362.5%	-63.64%
Total Long-Term Liabilities	$3.469B	$3.472B
YoY Change	-0.09%	69.53%
TOTAL LIABILITIES
Total Short-Term Liabilities	$5.783B	$5.271B
Total Long-Term Liabilities	$3.469B	$3.472B
Total Liabilities	$9.252B	$8.743B
YoY Change	5.82%	24.4%
SHAREHOLDERS EQUITY
Retained Earnings	$1.078B	$4.095B
YoY Change	-73.68%	-0.44%
Common Stock	$9.325B	$8.395B
YoY Change	11.08%	11.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$9.782B	$12.72B
YoY Change
Total Liabilities & Shareholders Equity	$22.55B	$23.15B
YoY Change	-2.59%	10.32%

Cashflow Statement

Concept	2018 Q1	2017 Q1
OPERATING ACTIVITIES
Net Income	-$921.0M	$1.141B
YoY Change	-180.72%	20.11%
Depreciation, Depletion And Amortization	$198.0M	$170.0M
YoY Change	16.47%	-3.95%
Cash From Operating Activities	$787.0M	$1.114B
YoY Change	-29.35%	27.17%
INVESTING ACTIVITIES
Capital Expenditures	-$230.0M	-$264.0M
YoY Change	-12.88%	-7.69%
Acquisitions
YoY Change
Other Investing Activities	$982.0M	-$460.0M
YoY Change	-313.48%	-204.78%
Cash From Investing Activities	$752.0M	-$724.0M
YoY Change	-203.87%	-573.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-2.234B	-717.0M
YoY Change	211.58%	-59.33%
NET CHANGE
Cash From Operating Activities	787.0M	1.114B
Cash From Investing Activities	752.0M	-724.0M
Cash From Financing Activities	-2.234B	-717.0M
Net Change In Cash	-695.0M	-327.0M
YoY Change	112.54%	-55.45%
FREE CASH FLOW
Cash From Operating Activities	$787.0M	$1.114B
Capital Expenditures	-$230.0M	-$264.0M
Free Cash Flow	$1.017B	$1.378B
YoY Change	-26.2%	18.59%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--05-31
	dei	Entity Registrant Name EntityRegistrantName	NIKE INC
	dei	Trading Symbol TradingSymbol	NKE
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
	dei	Document Period End Date DocumentPeriodEndDate	2018-02-28
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000320187
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
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CY2018Q1	us-gaap	Letters Of Credit Outstanding Amount LettersOfCreditOutstandingAmount	155000000	USD
CY2017Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	23259000000	USD
CY2018Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	22552000000	USD
CY2017Q2	us-gaap	Liabilities Current LiabilitiesCurrent	5474000000	USD
CY2018Q1	us-gaap	Liabilities Current LiabilitiesCurrent	5783000000	USD
CY2017Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	6000000	USD
CY2018Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	6000000	USD
CY2017Q2	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	3471000000	USD
CY2018Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	3469000000	USD
CY2017Q1	us-gaap	Marketing And Advertising Expense MarketingAndAdvertisingExpense	749000000	USD
	us-gaap	Marketing And Advertising Expense MarketingAndAdvertisingExpense	2552000000	USD
CY2018Q1	us-gaap	Marketing And Advertising Expense MarketingAndAdvertisingExpense	862000000	USD
	us-gaap	Marketing And Advertising Expense MarketingAndAdvertisingExpense	2594000000	USD
	us-gaap	Maximum Remaining Maturity Of Foreign Currency Derivatives1 MaximumRemainingMaturityOfForeignCurrencyDerivatives1	P27M
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1483000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-3448000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-488000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	526000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	2884000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	2685000000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	1141000000	USD
	us-gaap	Net Income Loss NetIncomeLoss	3232000000	USD
CY2018Q1	us-gaap	Net Income Loss NetIncomeLoss	-921000000	USD
	us-gaap	Net Income Loss NetIncomeLoss	796000000	USD
CY2017Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	698000000	USD
CY2018Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	905000000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	15000000	USD
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	426000000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-120000000	USD
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-493000000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	51000000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	65000000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-170000000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-89000000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-54000000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-428000000	USD
CY2017Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	88000000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	168000000	USD
CY2018Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1000000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-35000000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	34000000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Before Reclassifications Tax OtherComprehensiveIncomeLossBeforeReclassificationsTax	0	USD
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Tax OtherComprehensiveIncomeLossBeforeReclassificationsTax	-23000000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Before Reclassifications Tax OtherComprehensiveIncomeLossBeforeReclassificationsTax	-2000000	USD
	us-gaap	Other Comprehensive Income Loss Before Reclassifications Tax OtherComprehensiveIncomeLossBeforeReclassificationsTax	22000000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-175000000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-92000000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-107000000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-494000000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	12000000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	1000000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2429000000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	2694000000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	834000000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	920000000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	8000000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	54000000	USD
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	4029000000	USD
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	3644000000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	776000000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	728000000	USD
CY2017Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1150000000	USD
CY2018Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1446000000	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	1482000000	USD
	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	339000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	554000000	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	2433000000	USD
	us-gaap	Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities	3101000000	USD
	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	24000000	USD
	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-314000000	USD
	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	1905000000	USD
	us-gaap	Proceeds From Sale Of Available For Sale Securities Debt ProceedsFromSaleOfAvailableForSaleSecuritiesDebt	1797000000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	13000000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	0	USD
CY2017Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	3989000000	USD
CY2018Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4298000000	USD
CY2017Q1	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	185000000	USD
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	515000000	USD
CY2018Q1	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	-66000000	USD
	us-gaap	Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax	-65000000	USD
CY2017Q1	us-gaap	Reclassification From Aoci Current Period Tax ReclassificationFromAociCurrentPeriodTax	-1000000	USD
	us-gaap	Reclassification From Aoci Current Period Tax ReclassificationFromAociCurrentPeriodTax	2000000	USD
CY2018Q1	us-gaap	Reclassification From Aoci Current Period Tax ReclassificationFromAociCurrentPeriodTax	-2000000	USD
	us-gaap	Reclassification From Aoci Current Period Tax ReclassificationFromAociCurrentPeriodTax	1000000	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	14000000	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	16000000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	43000000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	4000000	USD
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	3979000000	USD
CY2018Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	1078000000	USD
CY2017Q1	us-gaap	Sales Revenue Net SalesRevenueNet	8432000000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	25673000000	USD
CY2018Q1	us-gaap	Sales Revenue Net SalesRevenueNet	8984000000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	26608000000	USD
CY2017Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2496000000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	7898000000	USD
CY2018Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2767000000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	8391000000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	162000000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	158000000	USD
CY2017Q2	us-gaap	Short Term Borrowings ShortTermBorrowings	325000000	USD
CY2018Q1	us-gaap	Short Term Borrowings ShortTermBorrowings	11000000	USD
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	12407000000	USD
CY2018Q1	us-gaap	Stockholders Equity StockholdersEquity	9782000000	USD
CY2017Q2	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2018Q1	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	0	USD
CY2017Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	461000000	USD
CY2018Q1	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	718000000	USD
CY2017Q2	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	171000000	USD
CY2018Q1	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	146000000	USD
CY2018Q1	us-gaap	Unrecognized Tax Benefits That Would Impact Effective Tax Rate UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate	504000000	USD
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1686300000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1696400000	shares
CY2018Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1623500000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1665700000	shares
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1653100000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1661500000	shares
CY2018Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1623500000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1629900000	shares
	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. </font><font style="font-family:Arial;font-size:8pt;color:#000000;">In addition, embedded derivative contracts are created when the Company enters 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. </font><font style="font-family:Arial;font-size:8pt;color:#000000;">Embedded derivative contracts are treated as foreign currency forward contracts that are bifurcated from the related contract 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;">, through the date the foreign currency fluctuations cease to exist.</font></div></div>
	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</font><font style="font-family:Arial;font-size:8pt;color:#000000;">’</font><font style="font-family:Arial;font-size:8pt;color:#000000;">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. Any amounts of cash collateral posted related to these instruments associated with the Company</font><font style="font-family:Arial;font-size:8pt;color:#000000;">’</font><font style="font-family:Arial;font-size:8pt;color:#000000;">s credit-related contingent features are recorded in </font><font style="font-family:Arial;font-size:8pt;color:#000000;font-style:italic;">Prepaid expenses and other current assets</font><font style="font-family:Arial;font-size:8pt;color:#000000;">, which would further offset against the Company’s derivative liability balance. Cash collateral received or posted related to the Company</font><font style="font-family:Arial;font-size:8pt;color:#000000;">’</font><font style="font-family:Arial;font-size:8pt;color:#000000;">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. For further information related to credit risk, refer to </font><font style="font-family:Arial;font-size:8pt;color:#000000;">Note 9 — Risk Management and Derivatives</font><font style="font-family:Arial;font-size:8pt;color:#000000;">.</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 ineffective portion of the unrealized gains and losses on these contracts, if any, are recorded immediately in earnings. </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. </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;">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. Effective hedge results are classified within the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. The ineffective portion of the unrealized gains and losses on these contracts, if any, is recorded immediately in earnings. Derivative instruments designated as cash flow hedges must be discontinued when it is no longer probable the forecasted hedged transaction will occur in the initially identified time period. The gains and losses associated with discontinued derivative instruments 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;"> if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional </font><font style="font-family:Arial;font-size:8pt;color:#000000;">two</font><font style="font-family:Arial;font-size:8pt;color:#000000;">-month period thereafter. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will account for the derivative as an undesignated instrument as discussed 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 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 place formally designated 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;">12</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> to </font><font style="font-family:Arial;font-size:8pt;color:#000000;">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;">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>
	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 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 and/or embedded derivative contract.</font></div></div>
	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 2018</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> presentation, including reclassified geographic operating segment data to reflect the changes in the Company’s operating structure, which became effective on June 1, 2017. Refer to </font><font style="font-family:Arial;font-size:8pt;color:#000000;">Note 11 — Operating Segments</font><font style="font-family:Arial;font-size:8pt;color:#000000;"> for additional information.</font></div></div>

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$NKE
NIKE, Inc. Stock $nke

2018 Q1 Form 10-Q Financial Statement

#000032018718000041 Filed on April 05, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NKE NIKE, Inc. Stock $nke

2018 Q1 Form 10-Q Financial Statement

#000032018718000041 Filed on April 05, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$NKE
NIKE, Inc. Stock $nke