$NKE

NIKE, Inc.

CIK:0000320187|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2026	Aug. 31, 2025
Income Statement [Abstract]
Revenues	$ 11,213	$ 11,720
Cost of sales	6,415	6,777
Gross profit	4,798	4,943
Demand creation expense	1,252	1,188
Operating overhead expense	2,658	2,828
Total selling and administrative expense	3,910	4,016
Interest (income) expense, net	(14)	(18)
Other (income) expense, net	(19)	23
Income before income taxes	921	922
Income tax expense	209	195
NET INCOME	$ 712	$ 727
Earnings per common share:
Basic (in dollars per share)	$ 0.48	$ 0.49
Diluted (in dollars per share)	$ 0.48	$ 0.49
Weighted average common shares outstanding:
Basic (in shares)	1,483.6	1,476.6
Diluted (in shares)	1,484.2	1,479.0

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2026	Aug. 31, 2025
Cash provided (used) by operations:
Net income	$ 712	$ 727
Adjustments to reconcile net income to net cash provided (used) by operations:
Depreciation and amortization	193	190
Deferred income taxes	(67)	(25)
Stock-based compensation	158	185
Impairment and other	9	8
Net foreign currency adjustments	(24)	34
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable	695	(215)
(Increase) decrease in inventories	(312)	(610)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets	(10)	(165)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities	(1,219)	93
Cash provided (used) by operations	135	222
Cash provided (used) by investing activities:
Purchases of short-term investments	(407)	(355)
Maturities of short-term investments	36	209
Sales of short-term investments	378	294
Additions to property, plant and equipment	(199)	(207)
Cash provided (used) by investing activities	(192)	(59)
Cash provided (used) by financing activities:
Proceeds from exercise of stock options and other stock issuances	0	127
Repurchase of common stock	0	(126)
Dividends — common and preferred	(610)	(591)
Other financing activities	(8)	(8)
Cash provided (used) by financing activities	(618)	(598)
Effect of exchange rate changes on cash and equivalents	15	(5)
Net increase (decrease) in cash and equivalents	(660)	(440)
Cash and equivalents, beginning of period	7,563	7,464
CASH AND EQUIVALENTS, END OF PERIOD	6,903	7,024
Supplemental disclosure of cash flow information:
Non-cash additions to property, plant and equipment	225	101
Dividends declared and not paid	$ 613	$ 594

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2026	May 31, 2026
Current assets:
Cash and equivalents	$ 6,903	$ 7,563
Short-term investments	1,465	1,464
Accounts receivable, net	5,242	5,931
Inventories	7,846	7,501
Prepaid expenses and other current assets	2,217	2,144
Total current assets	23,673	24,603
Property, plant and equipment, net	4,887	4,796
Operating lease right-of-use assets, net	2,947	2,838
Identifiable intangible assets, net	259	259
Goodwill	240	240
Deferred income taxes and other assets	5,788	5,674
TOTAL ASSETS	37,794	38,410
Current liabilities:
Current portion of long-term debt	2,000	2,000
Accounts payable	3,420	3,600
Current portion of operating lease liabilities	473	478
Accrued liabilities	5,338	6,092
Income taxes payable	178	377
Total current liabilities	11,409	12,547
Long-term debt	5,893	5,942
Operating lease liabilities	2,706	2,613
Deferred income taxes and other liabilities	2,566	2,443
Commitments and contingencies (Note 11)
Redeemable preferred stock	0	0
Shareholders' equity:
Capital in excess of stated value	15,312	15,158
Accumulated other comprehensive income (loss)	(39)	(141)
Retained earnings (deficit)	(56)	(155)
Total shareholders' equity	15,220	14,865
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	37,794	38,410
Class A Convertible Common Stock
Shareholders' equity:
Common stock at stated value	0	0
Class B Common Stock
Shareholders' equity:
Common stock at stated value	$ 3	$ 3