Balance Sheet: Assets
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.
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Nike Inc., consolidated balance sheet: assets
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).
- Cash and equivalents
- The cash and equivalents balance exhibited fluctuations over the periods. Starting from 8,348 million USD in May 2020, it increased to a peak of 9,889 million USD in May 2021, then declined sharply to 7,441 million USD by May 2023. There was a rebound to 9,860 million USD in May 2024 before declining again to 7,464 million USD in May 2025, indicating variability in liquidity management or cash flow timing.
- Short-term investments
- This category showed significant volatility, rising sharply from 439 million USD in May 2020 to 4,423 million USD in May 2022, then declining continuously to 1,687 million USD by May 2025. This pattern suggests periods of increased investment activity followed by divestment or reallocation of funds.
- Accounts receivable, net
- Accounts receivable increased overall from 2,749 million USD in May 2020 to 4,717 million USD in May 2025, with a temporary dip in May 2023 to 4,131 million USD. The trend indicates a general growth in credit sales or outstanding customer balances over the years.
- Inventories
- Inventory levels fluctuated but remained relatively stable, starting at 7,367 million USD in May 2020, peaking at 8,454 million USD in May 2023, and then slightly decreasing to 7,489 million USD in May 2025. The data shows some inventory buildup followed by modest reductions, which may relate to demand cycles or supply chain adjustments.
- Prepaid expenses and other current assets
- This line item varied moderately, declining from 1,653 million USD in May 2020 to 1,498 million USD in May 2021, followed by a rise to 2,129 million USD in May 2022, with slight fluctuations thereafter, ending at 2,005 million USD in May 2025. It reflects changing prepaid costs or other current asset dynamics.
- Current assets
- Current assets displayed an overall upward trend from 20,556 million USD in May 2020 to a peak of 28,213 million USD in May 2022 but then decreased to 23,362 million USD by May 2025. This suggests an initial buildup of liquid and near-liquid assets followed by some divestment or utilization.
- Property, plant and equipment, net
- Net property, plant, and equipment values remained fairly stable, oscillating between 4,791 million USD and 5,081 million USD throughout the periods. The relatively flat trend implies limited major capital expenditure or disposals over the time span.
- Operating lease right-of-use assets, net
- These assets showed a gradual decline from 3,097 million USD in May 2020 to 2,712 million USD in May 2025, indicating a slow reduction in leased asset obligations or expirations.
- Identifiable intangible assets, net
- Intangible assets experienced a slight decrease from 274 million USD in May 2020 to 259 million USD by May 2024 and 2025, pointing to little change in intangible asset holdings, possibly due to amortization without significant new acquisitions.
- Goodwill
- Goodwill increased modestly from 223 million USD in May 2020 to 284 million USD in May 2022 but then declined to 240 million USD by May 2024 and remained there in May 2025, suggesting minor write-downs or the absence of recent acquisitions impacting goodwill.
- Deferred income taxes and other assets
- This category consistently grew from 2,326 million USD in May 2020 to 5,178 million USD in May 2025, reflecting expanding deferred tax assets and other non-current assets, possibly driven by timing differences and investments.
- Non-current assets
- Non-current assets showed a steady upward trend from 10,786 million USD in May 2020 to 13,217 million USD in May 2025, indicative of moderate growth in long-term asset base.
- Total assets
- Total assets increased from 31,342 million USD in May 2020 to a high of 40,321 million USD in May 2022, followed by a decline to 36,579 million USD in May 2025. This pattern suggests overall asset growth in the early years, with a contraction or consolidation phase in recent periods.