Analysis of Debt
Total Debt (Carrying Amount)
Nike Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 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).
- Current Portion of Long-Term Debt
- The current portion of long-term debt exhibits a fluctuating pattern with intermittent missing data. Initially reported at 3 million USD in 2020, it jumps significantly to 500 million USD in 2022, declines in 2024 to 1000 million USD, indicating considerable variability in short-term maturities within these years.
- Notes Payable
- There is a pronounced decline in notes payable over the analyzed period. Starting from 248 million USD in 2020, the figure plummets to 2 million USD by 2021 and fluctuates slightly thereafter, settling around 5 million USD by 2025. The overall trend suggests a strategic reduction in short-term borrowings via notes payable.
- Long-Term Debt, Excluding Current Portion
- The long-term debt shows a gradual downtrend, decreasing from 9,406 million USD in 2020 to 7,961 million USD in 2025. This reduction, though moderate, indicates an effort to lessen long-term financial obligations, with a slight temporary increase or stabilization near 2023 before continuing the decline.
- Total Short-Term Borrowings and Long-Term Debt (Carrying Amount)
- This composite measure mirrors the pattern of the long-term debt, initially decreasing from 9,657 million USD in 2020 to below 9,000 million USD by 2023, and further declining to 7,966 million USD by 2025. The total debt trend reflects an overall contraction in both short-term and long-term liabilities during the timeframe.
Total Debt (Fair Value)
| May 31, 2025 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Notes payable | 5) |
| Long-term debt, including current portion | 6,673) |
| Total short-term borrowings and long-term debt (fair value) | 6,678) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.84 |
Based on: 10-K (reporting date: 2025-05-31).
Weighted-average Interest Rate on Debt
Weighted average interest rate on debt: 3.14%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.38% | 999) | 24) | |
| 2.75% | 999) | 27) | |
| 2.85% | 1,495) | 43) | |
| 3.25% | 993) | 32) | |
| 3.63% | 502) | 18) | |
| 3.88% | 997) | 39) | |
| 3.38% | 493) | 17) | |
| 3.38% | 1,483) | 50) | |
| Total | 7,961) | 250) | |
| 3.14% | |||
Based on: 10-K (reporting date: 2025-05-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 250 ÷ 7,961 = 3.14%