Nike Financial Statement

NIKE, INC. CONSOLIDATED STATEMENTS OF INCOME course of study Ended whitethorn 31, 2001 2000 1999 (in millions, except per allot data) Revenues terceIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Costs and expensesCost of sales IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII merchandising and administrative IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Interest expense (Notes 4 and 5) IIIIIIIIIIIIIIIIIIIIIIIIIIIII Other income/expense, profits (Notes 1, 10 and 11) IIIIIIIIIIIIIIII Restructuring charge, net (Note 13)IIIIIIIIIIIIIIIIIIIIIIIIIII Total costs and expenses IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income before income taxationes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes (Note 6) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII pull in income IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Basic earnings per super acid allocate (Notes 1 and 9) IIIIIIIIIIIIIIII Diluted earnings per common share (Notes 1 and 9)IIIIIIIIIIIIIII $9,488. 8 $8,995. 1 $8,776. 9 5,784. 9 2,689. 7 58. 7 34. 2 (. 1) 8,567. 4 921. 4 331. 7 $ 589. 7 $ 2. 18 $ 2. 16 5,403. 8 2,606. 4 45. 0 23. 2 (2. 5) 8,075. 9 919. 2 340. 1 $ 579. 1 $ 2. 10 $ 2. 07 5,493. 5 2,426. 6 44. 1 21. 5 45. 1 8,030. 8 746. 1 294. 7 $ 451. 4 $ 1. 59 $ 1. 57 The sequential nones to amalgamated Nnancial statements are an intact fortune of this statement. 24 NIKE, INC. CONSOLIDATED BALANCE SHEETS ASSETS whitethorn 31, 2001 2000 (in millions) on-line(prenominal) Assets specie and equivalents IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accounts receivable, less allow for doubtful accounts of $72. 1 and $65. IIII Inventories (Note 2) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Deferred income taxes (Notes 1 and 6) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII prepay expenses (Note 1) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total stream assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Property, typeset and equipment, net (Note 3)IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IdentiNable intangible assets and goodwill, net (Note 1) IIIIIIIIIIIIIIIIIIIIIII Deferred income taxes and early(a) assets (Notes 1 and 6)IIIIIIIIIIIIIIIIIIIIIII Total assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII $ 304. 0 1,621. 4 1,424. 1 113. 3 162. 5 3,625. 3 1,618. 8 397. 3 178. 2 $5,819. 6 $ 254. 3 1,569. 4 1,446. 0 111. 5 215. 2 3,596. 4 1,583. 4 410. 9 266. 2 $5,856. 9 $ $ 0. 2 2. 6 459. 4 (9. 9) (152. 1) 3,194. 3 3,494. 5 $5,819. 6 0. 2 2. 6 369. 0 (11. 7) (111. 1) 2,887. 0 3,136. 0 $5,856. 9 LIABILITIES AND SHAREHOLDERS EQUITY Current LiabilitiesCurrent portion of long-term debt (Note 5) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Notes account payable (Note 4) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accounts payable (Note 4) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accrued liabilities IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total underway liabilities IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIII Long-term debt (Notes 5 and 14)IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Deferred income taxes and other liabilities (Notes 1 and 6) IIIIIIIIIIIIIIIIIIII Commitments and contingencies (Notes 12 and 15) IIIIIIIIIIIIIIIIIIIIIIIIII Redeemable Preferred origination (Note 7) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Shareholders Equity cat valium tired at express value (Note 8) var. A convertible I 99. 1 and 99. shares outstandingIIIIIIIIIIIIIIIIIIII single out B I 169. 5 and 170. 4 shares outstandingIIIIIIIIIIIIIIIIIIIIIIIIIIII Capital in excess of stated value IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Unearned inception honorarium IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Accumulated other comprehensive incomeIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII well-kept earningsIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total shareholders justness IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Total liabilities and shareholders equity IIIIIIIIIIIIIIIIIIIIIIIIIIIII 5. 4 855. 3 432. 0 472. 1 21. 9 1,786. 7 435. 9 102. 2 I 0. 3 50. 1 924. 2 543. 8 621. 9 I 2,140. 0 470. 3 110. 3 I 0. 3The consecutive notes to consolidated Nnancial statements are an integral pause of this statement. 25 NIKE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS 2001 exchange provided (use) by operations Net income IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income charges not aAecting hard funds DepreciationIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Non- hard silver portion of restructuring chargeIIIIIIIIIIIIIIIIIIIIIIIII Deferred income taxes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Amortization and other IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income tax beneNt from bring of stock options IIIIIIIIIIIIIIIIIII Changes in certain working capital components ontogeny) reducing in accounts receivable IIIIIIIIIIIIIIIIIIIIIII (Increase) decrease in inventories IIIIIIIIIIIIIIIIIIIIIIIIIIIIII Decrease in other current assets and income taxes receivableIIIIIIII (Decrease) add in accounts payable, accrued liabilities and income taxes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII capital provided by operations IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash provided (used) by investing activities Additions to property, plant and equipmentIIIIIIIIIIIIIIIIIIIIIIIII Disposals of property, plant and equipment IIIIIIIIIIIIIIIIIIIIIIIII Increase in other assets IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Increase in other liabilitiesIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash used by investing activitiesIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash provided (used) by Nnancing activitiesReductions in long-term debt including current portionIIIIIIIIIIIIIII (Decrease) increase in notes payable IIIIIIIIIIIIIIIIIIIIIIIIIIIIII Proceeds from exercise of stock options IIIIIIIIIIIIIIIIIIIIIIIIIIII Repurchase of stock IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Dividends I common and preferredIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Cash used by Nnancing activities IIIIIIIIIIIIIIIIIIIIIIIIIIIII EAect of exchange rate changes on cash IIIIIIIIIIIIIIIIIIIIIIIIIII Net increase in cash and equivalents IIIIIIIIIIIIIIIIIIIIIIIIII Cash and equivalents, beginning of year IIIIIIIIIIIIIIIIIIIIIIIIIII Cash and equivalents, end of yearIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Supplemental disclosure of cash Oow information Cash paid during the year for Interest IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Income taxes IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Non-cash investing and Nnancing activity impudence of long-term debt to acquire property, plant and equipment III Year Ended May 31, 2000 (in millions) 1999 $ 589. 7 $ 579. 1 $ 451. 4 197. 4 I 79. 8 16. 7 32. 4 188. 0 I 36. 8 35. 6 14. 9 198. 2 28. 0 37. 9 30. 6 33. 4 (141. 4) (16. 7) 78. 0 (82. 6) (311. 8) 61. 2 114. 4 214. 4 24. 2 (179. 4) 656. 5 178. 4 699. 6 (191. 1) 941. 4 (317. 6) 12. 7 (42. 5) 5. 1 (342. 3) (419. 9) 25. 3 (51. 3) 5. 9 (440. 0) (384. 1) 27. 2 (60. 8) 1. 2 (416. 5) (50. 3) (68. 9) 56. 0 (157. 0) (129. 7) (349. 9) 85. 4 49. 7 254. 3 $ 304. 0 (1. 7) 505. 1 23. 9 (646. 3) (133. 1) (252. 1) 48. 7 56. 2 198. 1 $ 254. 3 (1. 5) (61. 0) 54. 4 (299. 8) (136. 2) (444. 1) 8. 7 89. 5 108. 6 $ 198. 1 $ $ $ 68. 5 173. 1I 45. 0 221. 1 47. 1 231. 9 $ 108. 9 The accompanying notes to consolidated Nnancial statements are an integral part of this statement. 26 I NIKE, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY cat valium birth var. A Class B Shares Amount Shares Amount equipoise at May 31, 1998 IIIIIIIIIIIII decline options exercised IIIIIIIIIIIIIII variation to Class B super C buy in II Repurchase of Class B Common germinateII Dividends on Common Stock IIIIIIIIII door-to-door income Net income IIIIIIIIIIIIIIIIIIIIIII unlike currency translation (net of tax expense of $0. 4)IIIIIIIIIIIIII house-to-house income IIIIIIIIIIIIIII Balance at May 31, 1999 IIIIIIIIIIIIIStock options exercised IIIIIIIIIIIIIII renascence to Class B Common Stock II Repurchase of Class B Common StockII Dividends on Common stock IIIIIIIIII Issuance of shares to employees IIIIIIII Amortization of unearned honorarium IIIIIIIIIIIIIIIIIIIII world-wide income Net income IIIIIIIIIIIIIIIIIIIIIII Foreign currency translation (net of tax expense of $1. 2)IIIIIIIIIIIIII Comprehensive income IIIIIIIIIIIIIII Balance at May 31, 2000 IIIIIIIIIIIII Stock options exercised IIIIIIIIIIIIIII Conversion to Class B Common Stock II Repurchase of Class B Common StockII Dividends on Common Stock IIIIIIIIII Issuance of shares to employees IIIIIIIIAmortization of unearned pay IIIIIIIIIIIIIIIIIIIII Forfeiture of shares from employees IIII Comprehensive income Net income IIIIIIIIIIIIIIIIIIIIIII Foreign currency translation and other (net of tax beneNt of $0. 2) IIIIIIII Comprehensive income IIIIIIIIIIIIIII Balance at May 31, 2001 IIIIIIIIIIIII 101. 5 $0. 2 (0. 8) 185. 5 2. 7 0. 8 (7. 4) $ 2. 7 Capital in Excess of Unearned Stated Stock Value Compensation (in millions) $262. 5 80. 5 $ I Accumulated Other Co mprehensive Income Retained Earnings $ (47. 2) $3,043. 4 $3,261. 6 80. 5 0. 2 (1. 5) 181. 6 1. 3 1. 5 (14. 5) 2. 7 334. 1 38. 7 (0. 1) (292. 7) (135. 6) (17. 3) 0. 5 13. 5 I (21. ) (21. 7) (68. 9) (301. 6) (135. 6) 451. 4 100. 7 (8. 9) Total 451. 4 451. 4 3,066. 5 (627. 1) (131. 5) (13. 5) 1. 8 0. 2 (0. 1) 170. 4 2. 9 0. 1 (4. 0) 2. 6 369. 0 91. 0 (11. 7) (42. 2) (42. 2) (111. 1) (4. 8) 0. 1 6. 7 (6. 7) (2. 5) 7. 3 1. 2 (42. 2) 536. 9 3,136. 0 91. 0 I (152. 2) (157. 0) (129. 6) (129. 6) I (0. 6) $0. 2 169. 5 $ 2. 6 $459. 4 $ (9. 9) (41. 0) (41. 0) $(152. 1) 589. 7 $3,194. 3 The accompanying notes to consolidated Nnancial statements are an integral part of this statement. 27 579. 1 579. 1 2,887. 0 589. 7 99. 1 (644. 5) (131. 5) I 1. 8 579. 1 99. 2 (21. 7) 429. 7 3,334. 6 38. 7 7. 3 (1. 9) 589. 7 (41. 0) 548. 7 $3,494. 5