$NKE
NIKE, Inc.

2022 Q1 Form 10-Q Financial Statement

#000032018722000017 Filed on April 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q2
Revenue $10.87B $11.36B $12.34B
YoY Change 4.96% 1.01% 95.53%
Cost Of Revenue $5.804B $6.144B $6.690B
YoY Change 2.94% -3.94% 68.94%
Gross Profit $5.067B $5.213B $5.654B
YoY Change 7.37% 7.55% 140.29%
Gross Profit Margin 46.61% 45.9% 45.8%
Selling, General & Admin $3.438B $3.759B $3.696B
YoY Change 13.05% 15.06% 15.83%
% of Gross Profit 67.85% 72.11% 65.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $183.0M $184.0M $221.0M
YoY Change 63.39% -25.51% 6.25%
% of Gross Profit 3.61% 3.53% 3.91%
Operating Expenses $3.438B $3.759B $3.696B
YoY Change 13.05% 15.06% 15.83%
Operating Profit $1.629B $1.454B $1.958B
YoY Change -2.92% -7.97% -333.65%
Interest Expense -$53.00M -$55.00M -$63.00M
YoY Change -17.19% -21.43% -253.66%
% of Operating Profit -3.25% -3.78% -3.22%
Other Income/Expense, Net $94.00M $102.0M $1.000M
YoY Change 327.27% -288.89% -150.0%
Pretax Income $1.670B $1.501B $1.854B
YoY Change 2.08% 3.09% -330.6%
Income Tax $274.0M $164.0M $345.0M
% Of Pretax Income 16.41% 10.93% 18.61%
Net Earnings $1.396B $1.337B $1.509B
YoY Change -3.66% 6.87% -291.01%
Net Earnings / Revenue 12.84% 11.77% 12.22%
Basic Earnings Per Share $0.88 $0.84
Diluted Earnings Per Share $0.87 $0.83 $934.0K
COMMON SHARES
Basic Shares Outstanding 1.579B shares 1.582B shares
Diluted Shares Outstanding 1.611B shares 1.617B shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.47B $15.10B $13.48B
YoY Change 7.5% 27.86% 53.36%
Cash & Equivalents $8.704B $10.75B $9.889B
Short-Term Investments $4.763B $4.352B $3.587B
Other Short-Term Assets $1.968B $1.822B $1.498B
YoY Change 8.73% -8.53% -9.38%
Inventory $7.700B $6.506B $6.854B
Prepaid Expenses
Receivables $3.827B $3.746B $4.463B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.96B $27.18B $26.29B
YoY Change 9.16% 15.12% 27.9%
LONG-TERM ASSETS
Property, Plant & Equipment $4.806B $4.812B $4.904B
YoY Change -3.07% -2.96% 0.78%
Goodwill $284.0M $242.0M $242.0M
YoY Change 17.36% 8.52% 8.52%
Intangibles $291.0M $265.0M $515.0M
YoY Change 7.38% -1.85% -0.96%
Long-Term Investments
YoY Change
Other Assets $3.275B $3.404B $2.921B
YoY Change 14.31% 26.5% 25.58%
Total Long-Term Assets $11.62B $11.74B $11.45B
YoY Change 1.13% 4.55% 6.15%
TOTAL ASSETS
Total Short-Term Assets $26.96B $27.18B $26.29B
Total Long-Term Assets $11.62B $11.74B $11.45B
Total Assets $38.58B $38.92B $37.74B
YoY Change 6.61% 11.71% 20.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.770B $2.795B $2.836B
YoY Change 22.73% 29.76% 26.16%
Accrued Expenses $5.391B $5.431B $6.063B
YoY Change -8.74% -9.93% 16.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $9.000M $2.000M
YoY Change -100.0% -78.05% -99.19%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $8.818B $8.857B $9.674B
YoY Change -0.85% -0.16% 16.78%
LONG-TERM LIABILITIES
Long-Term Debt $9.418B $9.417B $9.413B
YoY Change 0.06% 0.07% 0.07%
Other Long-Term Liabilities $2.784B $2.835B $2.931B
YoY Change -6.07% -2.11% 0.62%
Total Long-Term Liabilities $9.418B $9.417B $9.413B
YoY Change 0.06% 0.07% 0.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.818B $8.857B $9.674B
Total Long-Term Liabilities $9.418B $9.417B $9.413B
Total Liabilities $18.24B $18.27B $19.09B
YoY Change -0.38% -0.04% 7.9%
SHAREHOLDERS EQUITY
Retained Earnings $3.521B $3.786B $3.179B
YoY Change 29.02% 118.84% -1764.4%
Common Stock $11.19B $10.99B $9.965B
YoY Change 15.98% 17.72% 20.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.81B $14.92B $12.77B
YoY Change
Total Liabilities & Shareholders Equity $38.58B $38.92B $37.74B
YoY Change 6.61% 11.71% 20.41%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $1.396B $1.337B $1.509B
YoY Change -3.66% 6.87% -291.01%
Depreciation, Depletion And Amortization $183.0M $184.0M $221.0M
YoY Change 63.39% -25.51% 6.25%
Cash From Operating Activities $169.0M $2.757B $2.012B
YoY Change -86.9% 11.48% -201300.0%
INVESTING ACTIVITIES
Capital Expenditures -$154.0M -$178.0M -$174.0M
YoY Change -12.99% 5.95% -39.79%
Acquisitions
YoY Change
Other Investing Activities -$452.0M -$1.428B $361.0M
YoY Change -51.55% -21.54% 1800.0%
Cash From Investing Activities -$606.0M -$1.606B $187.0M
YoY Change -45.41% -19.22% -169.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.610B -1.103B -847.0M
YoY Change 403.13% 2406.82% -114.6%
NET CHANGE
Cash From Operating Activities 169.0M 2.757B 2.012B
Cash From Investing Activities -606.0M -1.606B 187.0M
Cash From Financing Activities -1.610B -1.103B -847.0M
Net Change In Cash -2.047B 48.00M 1.352B
YoY Change 1362.14% -89.12% -75.55%
FREE CASH FLOW
Cash From Operating Activities $169.0M $2.757B $2.012B
Capital Expenditures -$154.0M -$178.0M -$174.0M
Free Cash Flow $323.0M $2.935B $2.186B
YoY Change -77.98% 11.13% 659.03%

Facts In Submission

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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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dei Entity File Number
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dei Entity Registrant Name
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NIKE, Inc.
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dei Entity Tax Identification Number
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021Q1 us-gaap Dividends Payable Current And Noncurrent
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CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2022Q1 us-gaap Dividends
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CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2021Q1 us-gaap Dividends
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CY2022Q1 nke Issuance Of Shares To Employees Value Net Of Shares Withheld For Taxes
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CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q1 us-gaap Net Income Loss
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CY2022Q1 us-gaap Stockholders Equity
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CY2021Q1 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2022Q1 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
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CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
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CY2021Q2 nke Accrued Compensation And Benefits Excluding Taxes Current
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CY2022Q1 nke Allowance For Sales Discounts And Returns
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CY2022Q1 us-gaap Dividends Payable Current
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CY2021Q2 us-gaap Dividends Payable Current
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CY2022Q1 nke Accrual For Cumulative Foreign Currency Translation Losses Current
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CY2021Q2 nke Accrual For Cumulative Foreign Currency Translation Losses Current
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CY2022Q1 us-gaap Other Accrued Liabilities Current
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CY2022Q1 us-gaap Accrued Liabilities Current
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CY2022Q1 us-gaap Long Term Debt Fair Value
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CY2021Q2 us-gaap Long Term Debt Fair Value
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q1 us-gaap Unrecognized Tax Benefits
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CY2022Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2021Q2 us-gaap Unrecognized Tax Benefits
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CY2022Q1 us-gaap Income Tax Examination Increase Decrease In Liability From Prior Year
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CY2022Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2022Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2022Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q1 us-gaap Earnings Per Share Basic
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CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.68
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
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CY2021Q2 us-gaap Derivative Fair Value Of Derivative Asset
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CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
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CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability
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CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q1 us-gaap Cost Of Goods And Services Sold
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CY2021Q1 us-gaap Cost Of Goods And Services Sold
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CY2022Q1 us-gaap Marketing And Advertising Expense
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CY2021Q1 us-gaap Marketing And Advertising Expense
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CY2022Q1 us-gaap Other Nonoperating Income Expense
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CY2021Q1 us-gaap Other Nonoperating Income Expense
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CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
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CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Cost Of Goods And Services Sold
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us-gaap Cost Of Goods And Services Sold
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us-gaap Marketing And Advertising Expense
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us-gaap Marketing And Advertising Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Interest Income Expense Nonoperating Net
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us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
CASH FLOW HEDGESAll changes in fair value of derivatives designated as cash flow hedge instruments are recorded in Accumulated other comprehensive income (loss) until Net income is affected by the variability of cash flows of the hedged transaction. Effective hedge results are classified in the Unaudited Condensed Consolidated Statements of Income in the same manner as the underlying exposure. When it is no longer probable the forecasted hedged transaction will occur in the initially identified time period, hedge accounting is discontinued and the Company accounts for the associated derivative as an undesignated instrument as discussed below. Additionally, the gains and losses associated with derivatives no longer designated as cash flow hedge instruments in Accumulated other comprehensive income (loss) are recognized immediately in Other (income) expense, net, if it is probable the forecasted hedged transaction will not occur by the end of the initially identified time period or within an additional two-month period thereafter. In rare circumstances, the additional period of time may exceed two months due to extenuating circumstances related to the nature of the forecasted transaction that are outside the control or influence of the Company.
CY2022Q1 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
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305000000 USD
us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
UNDESIGNATED DERIVATIVE INSTRUMENTSThe 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 Other (income) expense, net, together with the remeasurement gain or loss from the hedged balance sheet position and/or embedded derivative contract.
us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
EMBEDDED DERIVATIVESEmbedded 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 Other (income) expense, net, through the date the foreign currency fluctuations cease to exist.
CY2022Q1 nke Credit Risk Related Contingent Features Collateral Threshold
CreditRiskRelatedContingentFeaturesCollateralThreshold
50000000 USD
CY2022Q1 nke Credit Risk Related Contingent Features Collateral Threshold
CreditRiskRelatedContingentFeaturesCollateralThreshold
50000000 USD
CY2022Q1 nke Derivative Net Asset Position Aggregate Fair Value
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375000000 USD
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CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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37000000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-46000000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
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CY2022Q1 us-gaap Reclassification From Aoci Current Period Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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2000000 USD
CY2021Q1 us-gaap Reclassification From Aoci Current Period Tax
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0 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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407000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-72000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-390000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
479000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
62000000 USD
us-gaap Reclassification From Aoci Current Period Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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112000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
1000000 USD
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
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CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10871000000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10871000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10357000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10357000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34476000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34476000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32194000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32194000000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10871000000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10357000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34476000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32194000000 USD
CY2022Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-53000000 USD
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-64000000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-165000000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-199000000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1670000000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1636000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5277000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4807000000 USD
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3827000000 USD
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4463000000 USD
CY2022Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7700000000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6854000000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4806000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4904000000 USD

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