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Nike Inc. (NKE) | Statement of Cash Flows

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Nike Inc., Consolidated Statement of Cash Flows

USD $ in millions

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  12 months ended May 31, 2012 May 31, 2011 May 31, 2010 May 31, 2009 May 31, 2008 May 31, 2007
Net income 2,223  2,133  1,907  1,487  1,883  1,492 
Depreciation 373  335  324  335  304  270 
Deferred income taxes (60) (76) 8  (294) (301) 34 
Stock-based compensation 130  105  159  171  141  148 
Impairment of goodwill, intangibles and other assets – – – 401  – –
Gain on divestitures – – – – (61) –
Amortization and other 32  23  72  48  18  1 
(Increase) decrease in accounts receivable (323) (273) 182  (238) (118) (40)
(Increase) decrease in inventories (805) (551) 285  32  (250) (50)
(Increase) decrease in prepaid expenses and other current assets (141) (35) (70) 14  (11) (61)
Increase (decrease) in accounts payable, accrued liabilities and income taxes payable 470  151  297  (220) 331  85 
Changes in certain working capital components and other assets and liabilities (799) (708) 694  (412) (48) (66)
Income charges (credits) not affecting cash (324) (321) 1,257  249  53  387 
Cash provided by operations 1,899  1,812  3,164  1,736  1,936  1,879 
Purchases of short-term investments (2,705) (7,616) (3,724) (2,909) (1,866) (2,134)
Maturities of short-term investments 2,585  4,313  2,334  1,280  2,246  2,516 
Sales of short-term investments 1,244  2,766  453  1,110  – –
Additions to property, plant and equipment (597) (432) (335) (456) (449) (313)
Disposals of property, plant and equipment 2  1  10  33  2  28 
Increase in other assets, net of other liabilities (37) (30) (11) (47) (22) (4)
Settlement of net investment hedges 22  (23) 5  191  (76) –
Acquisition of subsidiary, net of cash acquired – – – – (571) –
Proceeds from divestitures – – – – 246  –
Cash (used) provided by investing activities 514  (1,021) (1,268) (798) (490) 93 
Proceeds from issuance of long-term debt – – – – – 42 
Reductions in long-term debt, including current portion (203) (8) (32) (7) (35) (256)
Increase (decrease) in notes payable (65) 41  (205) 177  64  53 
Proceeds from exercise of stock options and other stock issuances 468  345  364  187  343  323 
Excess tax benefits from share-based payment arrangements 115  64  58  25  63  56 
Repurchase of common stock (1,814) (1,859) (741) (649) (1,248) (985)
Dividends, common and preferred (619) (555) (505) (467) (413) (344)
Cash used by financing activities (2,118) (1,972) (1,061) (734) (1,226) (1,111)
Effect of exchange rate changes 67  57  (47) (47) 57  42 
Net increase (decrease) in cash and equivalents 362  (1,124) 788  157  277  903 
Cash and equivalents, beginning of year 1,955  3,079  2,291  2,134  1,857  954 
Cash and equivalents, end of year 2,317  1,955  3,079  2,291  2,134  1,857 
Source: Nike Inc., Annual Reports
Item Description The company
Cash provided by operations The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Nike Inc.'s cash provided by operations declined from 2010 to 2011 but then slightly increased from 2011 to 2012.

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