Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Nike Inc., consolidated income statement

US$ in millions

12 months ended:	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019	May 31, 2018
Revenues	51,217)	46,710)	44,538)	37,403)	39,117)	36,397)
Cost of sales	(28,925)	(25,231)	(24,576)	(21,162)	(21,643)	(20,441)
Gross profit	22,292)	21,479)	19,962)	16,241)	17,474)	15,956)
Demand creation expense	(4,060)	(3,850)	(3,114)	(3,592)	(3,753)	(3,577)
Operating overhead expense	(12,317)	(10,954)	(9,911)	(9,534)	(8,949)	(7,934)
Selling and administrative expense	(16,377)	(14,804)	(13,025)	(13,126)	(12,702)	(11,511)
Operating income	5,915)	6,675)	6,937)	3,115)	4,772)	4,445)
Interest income	297)	94)	34)	62)	82)	70)
Interest expense	(291)	(299)	(296)	(151)	(131)	(124)
Interest income (expense), net	6)	(205)	(262)	(89)	(49)	(54)
Other income (expense), net	280)	181)	(14)	(139)	78)	(66)
Income before income taxes	6,201)	6,651)	6,661)	2,887)	4,801)	4,325)
Income tax expense	(1,131)	(605)	(934)	(348)	(772)	(2,392)
Net income	5,070)	6,046)	5,727)	2,539)	4,029)	1,933)

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Nike Inc. revenues increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Nike Inc. operating income decreased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Nike Inc. income before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Nike Inc. net income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Nike Inc. (NYSE:NKE)

Income Statement