Stock Analysis on Net
Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Balance Sheet: Assets
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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

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Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014
Cash and equivalents 8,516  8,635  8,148  8,348  2,863  3,070  3,446  4,466  3,695  3,423  3,282  4,249  3,662  4,304  3,413  3,808  4,021  4,339  2,659  3,138  3,044  3,851  3,246  3,852  3,015  2,273  2,303 
Short-term investments 4,012  3,177  1,332  439  319  432  198  197  351  618  987  996  1,089  2,085  2,106  2,371  2,139  1,604  2,128  2,319  2,062  2,265  2,162  2,072  2,346  2,440  2,276 
Accounts receivable, net 3,669  3,713  3,813  2,749  4,473  4,792  4,656  4,272  4,549  4,346  4,330  3,498  3,792  3,613  3,871  3,677  3,752  3,478  3,526  3,241  3,368  3,437  3,288  3,358  3,294  3,457  3,587 
Inventories 6,693  6,090  6,705  7,367  5,807  6,199  5,835  5,622  5,415  5,388  5,227  5,261  5,366  5,326  5,211  5,055  4,932  5,033  4,896  4,838  4,590  4,600  4,414  4,337  4,246  4,150  4,030 
Deferred income taxes —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  410  405  377  389  328  334  348 
Prepaid expenses and other current assets 1,810  1,992  1,939  1,653  2,282  1,876  2,093  1,968  1,786  1,791  1,675  1,130  1,446  1,254  1,591  1,150  1,361  1,557  1,380  1,489  1,782  2,197  1,751  1,968  1,978  1,379  996 
Current assets 24,700  23,607  21,937  20,556  15,744  16,369  16,228  16,525  15,796  15,566  15,501  15,134  15,355  16,582  16,192  16,061  16,205  16,011  14,589  15,025  15,256  16,755  15,238  15,976  15,207  14,033  13,540 
Property, plant and equipment, net 4,958  4,959  4,969  4,866  4,783  4,668  4,615  4,744  4,688  4,588  4,487  4,454  4,298  4,117  4,086  3,989  3,793  3,566  3,572  3,520  3,329  3,235  3,112  3,011  2,862  2,927  2,895 
Operating lease right-of-use assets, net 3,149  3,086  3,158  3,097  2,907  2,882  2,832  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Identifiable intangible assets, net 271  270  272  274  275  277  279  283  283  284  284  285  282  282  283  283  283  283  284  281  281  281  281  281  281  281  282 
Goodwill 242  223  223  223  223  224  224  154  154  154  154  154  139  139  139  139  139  139  139  131  131  131  131  131  131  131  131 
Deferred income taxes and other assets 2,865  2,691  2,699  2,326  2,288  2,182  2,071  2,011  2,000  2,085  2,057  2,509  2,478  2,935  2,947  2,787  2,732  2,653  2,572  2,439  1,990  2,181  2,004  2,201  2,060  1,795  1,673 
Non-current assets 11,485  11,229  11,321  10,786  10,476  10,233  10,021  7,192  7,125  7,111  6,982  7,402  7,197  7,473  7,455  7,198  6,947  6,641  6,567  6,371  5,731  5,828  5,528  5,624  5,334  5,134  4,981 
Total assets 36,185  34,836  33,258  31,342  26,220  26,602  26,249  23,717  22,921  22,677  22,483  22,536  22,552  24,055  23,647  23,259  23,152  22,652  21,156  21,396  20,987  22,583  20,766  21,600  20,541  19,167  18,521 

Based on: 10-Q (filing date: 2021-04-02), 10-Q (filing date: 2021-01-05), 10-Q (filing date: 2020-10-08), 10-K (filing date: 2020-07-24), 10-Q (filing date: 2020-04-07), 10-Q (filing date: 2020-01-07), 10-Q (filing date: 2019-10-04), 10-K (filing date: 2019-07-23), 10-Q (filing date: 2019-04-04), 10-Q (filing date: 2019-01-08), 10-Q (filing date: 2018-10-05), 10-K (filing date: 2018-07-25), 10-Q (filing date: 2018-04-05), 10-Q (filing date: 2018-01-05), 10-Q (filing date: 2017-10-06), 10-K (filing date: 2017-07-20), 10-Q (filing date: 2017-04-04), 10-Q (filing date: 2017-01-05), 10-Q (filing date: 2016-10-11), 10-K (filing date: 2016-07-21), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-06), 10-Q (filing date: 2015-10-06), 10-K (filing date: 2015-07-23), 10-Q (filing date: 2015-04-07), 10-Q (filing date: 2015-01-07), 10-Q (filing date: 2014-10-07).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Nike Inc.’s current assets increased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Nike Inc.’s property, plant and equipment, net decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Nike Inc.’s non-current assets decreased from Q1 2021 to Q2 2021 but then increased from Q2 2021 to Q3 2021 exceeding Q1 2021 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Nike Inc.’s total assets increased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Nike Inc.’s cash and equivalents increased from Q1 2021 to Q2 2021 but then slightly decreased from Q2 2021 to Q3 2021.
Short-term investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Nike Inc.’s short-term investments increased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Nike Inc.’s accounts receivable, net decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Nike Inc.’s inventories decreased from Q1 2021 to Q2 2021 but then increased from Q2 2021 to Q3 2021 not reaching Q1 2021 level.