Stock Analysis on Net
Stock Analysis on Net
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Nike Inc. (NYSE:NKE)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Nike Inc., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: 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
Revenues 6,313  10,104  10,326  10,660  10,184  9,611  9,374  9,948  9,789  8,984  8,554  9,070  8,677  8,432  8,180  9,061  8,244  8,032  7,686  8,414  7,779  7,460  7,380  7,982 
Cost of sales (3,960) (5,631) (5,782) (5,789) (5,551) (5,272) (5,269) (5,551) (5,411) (5,046) (4,876) (5,108) (4,854) (4,682) (4,564) (4,938) (4,458) (4,343) (4,185) (4,419) (4,186) (4,034) (4,053) (4,261)
Gross profit 2,353  4,473  4,544  4,871  4,633  4,339  4,105  4,397  4,378  3,938  3,678  3,962  3,823  3,750  3,616  4,123  3,786  3,689  3,501  3,995  3,593  3,426  3,327  3,721 
Demand creation expense (823) (870) (881) (1,018) (1,014) (865) (910) (964) (983) (862) (877) (855) (789) (749) (762) (1,041) (873) (804) (769) (832) (819) (731) (766) (897)
Operating overhead expense (2,368) (2,413) (2,443) (2,310) (2,392) (2,226) (2,232) (2,099) (2,137) (1,905) (1,891) (2,001) (1,876) (1,747) (1,743) (1,856) (1,893) (1,762) (1,791) (1,745) (1,776) (1,648) (1,672) (1,583)
Selling and administrative expense (3,191) (3,283) (3,324) (3,328) (3,406) (3,091) (3,142) (3,063) (3,120) (2,767) (2,768) (2,856) (2,665) (2,496) (2,505) (2,897) (2,766) (2,566) (2,560) (2,577) (2,595) (2,379) (2,438) (2,480)
Operating income (838) 1,190  1,220  1,543  1,227  1,248  963  1,334  1,258  1,171  910  1,106  1,158  1,254  1,111  1,226  1,020  1,123  941  1,418  998  1,047  889  1,241 
Interest income (expense), net (50) (12) (12) (15) (12) (12) (14) (11) (12) (13) (13) (16) (18) (19) (15) (7) (5) (5) (5) (4) (4) (6) (9) (9)
Other income (expense), net 84  (297) 41  33  28  55  48  (53) (31) (18) (18) 28  88  18  62  58  17  34  31  58  (2) (3)
Income before income taxes (804) 881  1,249  1,561  1,243  1,291  997  1,270  1,215  1,159  879  1,072  1,168  1,323  1,114  1,281  1,073  1,135  970  1,445  1,052  1,046  878  1,229 
Income tax expense 14  (34) (134) (194) (254) (190) (150) (178) (78) (2,080) (112) (122) (160) (182) (272) (32) (227) (185) (185) (266) (187) (255) (223) (267)
Net income (loss) (790) 847  1,115  1,367  989  1,101  847  1,092  1,137  (921) 767  950  1,008  1,141  842  1,249  846  950  785  1,179  865  791  655  962 

Based on: 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).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Nike Inc.’s revenues decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Nike Inc.’s operating income decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Nike Inc.’s income before income taxes decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Nike Inc.’s net income (loss) decreased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.