Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Nike Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Aug 31, 2025	May 31, 2025	Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019
Cash and equivalents	7,024)	7,464)	8,601)	7,979)	8,485)	9,860)	8,960)	7,919)	6,178)	7,441)	6,955)	6,490)	7,226)	8,574)	8,704)	10,751)	10,720)	9,889)	8,516)	8,635)	8,148)	8,348)	2,863)	3,070)	3,446)
Short-term investments	1,551)	1,687)	1,792)	1,782)	1,809)	1,722)	1,613)	2,008)	2,612)	3,234)	3,847)	4,131)	4,650)	4,423)	4,763)	4,352)	2,975)	3,587)	4,012)	3,177)	1,332)	439)	319)	432)	198)
Accounts receivable, net	4,962)	4,717)	4,491)	5,302)	4,764)	4,427)	4,526)	4,782)	4,749)	4,131)	4,513)	5,437)	4,960)	4,667)	3,827)	3,746)	4,341)	4,463)	3,669)	3,713)	3,813)	2,749)	4,473)	4,792)	4,656)
Inventories	8,114)	7,489)	7,539)	7,981)	8,253)	7,519)	7,726)	7,979)	8,698)	8,454)	8,905)	9,326)	9,662)	8,420)	7,700)	6,506)	6,699)	6,854)	6,693)	6,090)	6,705)	7,367)	5,807)	6,199)	5,835)
Prepaid expenses and other current assets	2,247)	2,005)	2,186)	1,936)	1,729)	1,854)	1,928)	1,943)	2,013)	1,942)	1,815)	2,063)	2,379)	2,129)	1,968)	1,822)	1,655)	1,498)	1,810)	1,992)	1,939)	1,653)	2,282)	1,876)	2,093)
Current assets	23,898)	23,362)	24,609)	24,980)	25,040)	25,382)	24,753)	24,631)	24,250)	25,202)	26,035)	27,447)	28,877)	28,213)	26,962)	27,177)	26,390)	26,291)	24,700)	23,607)	21,937)	20,556)	15,744)	16,369)	16,228)
Property, plant and equipment, net	4,861)	4,828)	4,717)	4,857)	4,948)	5,000)	5,082)	5,153)	5,109)	5,081)	4,939)	4,854)	4,778)	4,791)	4,806)	4,812)	4,869)	4,904)	4,958)	4,959)	4,969)	4,866)	4,783)	4,668)	4,615)
Operating lease right-of-use assets, net	2,727)	2,712)	2,614)	2,736)	2,792)	2,718)	2,856)	2,943)	2,939)	2,923)	2,834)	2,809)	2,880)	2,926)	3,959)	3,017)	3,078)	3,113)	3,149)	3,086)	3,158)	3,097)	2,907)	2,882)	2,832)
Identifiable intangible assets, net	259)	259)	259)	259)	259)	259)	259)	269)	272)	274)	277)	280)	283)	286)	291)	265)	267)	269)	271)	270)	272)	274)	275)	277)	279)
Goodwill	240)	240)	239)	240)	240)	240)	240)	281)	281)	281)	281)	281)	282)	284)	284)	242)	242)	242)	242)	223)	223)	223)	223)	224)	224)
Deferred income taxes and other assets	5,349)	5,178)	5,355)	4,887)	4,588)	4,511)	4,166)	3,926)	3,935)	3,770)	3,928)	3,976)	3,988)	3,821)	3,275)	3,404)	3,071)	2,921)	2,865)	2,691)	2,699)	2,326)	2,288)	2,182)	2,071)
Non-current assets	13,436)	13,217)	13,184)	12,979)	12,827)	12,728)	12,603)	12,572)	12,536)	12,329)	12,259)	12,200)	12,211)	12,108)	12,615)	11,740)	11,527)	11,449)	11,485)	11,229)	11,321)	10,786)	10,476)	10,233)	10,021)
Total assets	37,334)	36,579)	37,793)	37,959)	37,867)	38,110)	37,356)	37,203)	36,786)	37,531)	38,294)	39,647)	41,088)	40,321)	39,577)	38,917)	37,917)	37,740)	36,185)	34,836)	33,258)	31,342)	26,220)	26,602)	26,249)

The analysis of the financial position reveals several important trends across the reported quarters.

Cash and Equivalents: The cash and equivalents balance exhibited notable volatility, with a low point around early 2020 followed by a significant increase reaching a peak in mid-2021. Subsequently, the balance generally declined towards 2025, suggesting varying cash flow management or investment activities across periods.
Short-term Investments: Short-term investments showed a rising trend from early 2019 through 2021, indicating increased allocation of liquid assets into short-term financial instruments. From late 2021 onward, these investments gradually decreased, implying a potential liquidation or reallocation of short-term assets.
Accounts Receivable: Accounts receivable remained relatively stable with minor fluctuations until early 2020 when a decline is observed, likely reflecting changing sales patterns. Post-2020, there is a modest increase peaking around late 2022, followed by a slight decline towards 2025, which might indicate changing credit sales or collection efficiency.
Inventories: Inventories showed a general upward trend from mid-2019 to late 2022, peaking notably in that period. Following this peak, inventories decreased somewhat but remained elevated relative to the earliest periods, suggesting adjustments to stock levels in response to demand or supply chain conditions.
Prepaid Expenses and Other Current Assets: These assets remained fairly consistent but fluctuated moderately, showing increases and decreases across quarters without a clear long-term trend, reflecting normal operating cycle variations.
Current Assets: Total current assets grew substantially from 2019 to around mid-2021, reflecting increases in cash, investments, receivables, and inventories. A gradual decline followed thereafter through 2025, signaling changes in working capital components or strategic asset management adjustments.
Property, Plant, and Equipment (PP&E), Net: Net PP&E presented a generally stable and slight upward trajectory until early 2023, indicating ongoing investment or capital expenditures. A gradual decline is observed after 2023, possibly due to asset disposals or depreciation outpacing additions.
Operating Lease Right-of-Use Assets, Net: These assets fluctuated moderately but remained relatively steady overall. A temporary surge occurred in early 2022, possibly related to lease accounting changes or new leasing agreements, followed by a return to previous levels.
Identifiable Intangible Assets, Net: Intangible assets showed a minor declining trend over time, indicating amortization or impairment effects.
Goodwill: Goodwill remained largely constant with minor increases up to early 2022, then a gradual reduction thereafter, suggesting impairment charges or reclassifications in certain periods.
Deferred Income Taxes and Other Assets: This category showed consistent growth across the quarters, possibly driven by deferred tax assets or capitalization of other non-current assets, implying strategic tax planning or asset recognition.
Non-current Assets: Non-current assets increased steadily over the period, driven by underlying components like PP&E and deferred taxes, demonstrating ongoing investment in long-term resources despite some fluctuations.
Total Assets: Total assets grew substantially through mid-2021, driven by expansions in both current and non-current assets. After peaking around 2022, total assets decreased moderately towards 2025, indicating strategic asset base optimization or return on assets adjustments.

Overall, the data presents a picture of active asset management, with increases in liquidity and investment assets through 2021, followed by more conservative asset levels and possible reallocations in subsequent years. Trends in inventory and receivables suggest adjustments in operational cycles, while stable intangible assets and goodwill imply limited acquisitions or write-downs. Deferred tax assets increased steadily, contributing to non-current asset growth. The total asset base expanded notably through 2021 with a mild contraction thereafter, highlighting a dynamic but controlled growth strategy.

Assets: Selected Items

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Current Assets: Selected Items

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Nike Inc. (NYSE:NKE)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data