Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Analysis of Debt 

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Total Debt (Carrying Amount)

Nike Inc., balance sheet: debt

US$ in millions

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May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Current portion of long-term debt —  44 
Notes payable 248  336  325 
Long-term debt, excluding current portion 9,413  9,406  3,464  3,468  3,471  2,010 
Total short-term borrowings and long-term debt (carrying amount) 9,415  9,657  3,479  3,810  3,802  2,055 

Based on: 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), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31).

Debt item Description The company
Total short-term borrowings and long-term debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Nike Inc. total debt increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.

Total Debt (Fair Value)

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May 31, 2021
Selected Financial Data (US$ in millions)
Notes payable
Long-term debt, including current portion 10,275 
Total short-term borrowings and long-term debt (fair value) 10,277 
Financial Ratio
Debt, fair value to carrying amount ratio 1.09

Based on: 10-K (reporting date: 2021-05-31).


Weighted-average Interest Rate on Debt

Weighted average interest rate on debt: 3.02%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
17.80% — 
2.25% 499  11 
2.40% 995  24 
2.38% 996  24 
2.75% 995  27 
2.85% 1,490  42 
3.25% 986  32 
3.63% 496  18 
3.88% 984  38 
3.38% 491  17 
3.38% 1,481  50 
Total 9,415  284 
3.02%

Based on: 10-K (reporting date: 2021-05-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × 284 ÷ 9,415 = 3.02%