Balance Sheet: Liabilities and Stockholders’ Equity
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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Nike Inc., consolidated balance sheet: liabilities and stockholders’ equity (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
Current portion of long-term debt	—)	—)	1,000)	1,000)	1,000)	1,000)	—)	—)	—)	—)	500)	500)	500)	500)	—)	—)	—)	—)	—)	—)	1)	3)	4)	6)	6)
Notes payable	4)	5)	4)	49)	12)	6)	6)	6)	6)	6)	14)	7)	9)	10)	—)	9)	15)	2)	4)	41)	137)	248)	9)	300)	250)
Accounts payable	3,772)	3,479)	3,106)	3,255)	3,357)	2,851)	2,340)	2,709)	2,738)	2,862)	2,675)	2,810)	3,371)	3,358)	2,770)	2,795)	2,135)	2,836)	2,257)	2,154)	1,983)	2,248)	2,221)	2,627)	2,716)
Current portion of operating lease liabilities	506)	502)	474)	481)	491)	477)	474)	456)	435)	425)	435)	426)	424)	420)	455)	462)	462)	467)	470)	458)	459)	445)	422)	431)	427)
Accrued liabilities	5,923)	5,911)	5,905)	5,694)	5,075)	5,725)	5,818)	5,470)	4,987)	5,723)	5,594)	6,020)	6,277)	6,220)	5,391)	5,431)	5,296)	6,063)	5,907)	6,030)	5,742)	5,184)	5,356)	4,672)	4,455)
Income taxes payable	706)	669)	734)	767)	693)	534)	391)	358)	295)	240)	330)	436)	338)	222)	202)	160)	361)	306)	256)	188)	297)	156)	268)	228)	216)
Current liabilities	10,911)	10,566)	11,223)	11,246)	10,628)	10,593)	9,029)	8,999)	8,461)	9,256)	9,548)	10,199)	10,919)	10,730)	8,818)	8,857)	8,269)	9,674)	8,894)	8,871)	8,619)	8,284)	8,280)	8,264)	8,070)
Long-term debt, excluding current portion	7,996)	7,961)	7,956)	7,973)	7,998)	7,903)	8,930)	8,930)	8,929)	8,927)	8,925)	8,924)	8,922)	8,920)	9,418)	9,417)	9,415)	9,413)	9,412)	9,410)	9,408)	9,406)	3,463)	3,462)	3,463)
Operating lease liabilities, excluding current portion	2,555)	2,550)	2,477)	2,562)	2,625)	2,566)	2,691)	2,785)	2,807)	2,786)	2,692)	2,668)	2,736)	2,777)	2,784)	2,835)	2,898)	2,931)	2,964)	2,896)	2,961)	2,913)	2,758)	2,723)	2,675)
Deferred income taxes and other liabilities	2,404)	2,289)	2,130)	2,141)	2,672)	2,618)	2,480)	2,343)	2,618)	2,558)	2,598)	2,584)	2,689)	2,613)	2,748)	2,884)	2,992)	2,955)	2,984)	3,019)	3,046)	2,684)	2,674)	2,802)	2,841)
Non-current liabilities	12,955)	12,800)	12,563)	12,676)	13,295)	13,087)	14,101)	14,058)	14,354)	14,271)	14,215)	14,176)	14,347)	14,310)	14,950)	15,136)	15,305)	15,299)	15,360)	15,325)	15,415)	15,003)	8,895)	8,987)	8,979)
Total liabilities	23,866)	23,366)	23,786)	23,922)	23,923)	23,680)	23,130)	23,057)	22,815)	23,527)	23,763)	24,375)	25,266)	25,040)	23,768)	23,993)	23,574)	24,973)	24,254)	24,196)	24,034)	23,287)	17,175)	17,251)	17,049)
Redeemable preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock at stated value	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)
Capital in excess of stated value	14,473)	14,195)	13,916)	13,778)	13,557)	13,409)	13,128)	12,871)	12,590)	12,412)	12,074)	11,851)	11,648)	11,484)	11,186)	10,990)	10,521)	9,965)	9,645)	9,336)	8,695)	8,299)	7,971)	7,719)	7,296)
Accumulated other comprehensive income (loss)	(308)	(258)	263)	202)	(27)	53)	125)	121)	136)	231)	302)	559)	636)	318)	99)	145)	(67)	(380)	(446)	(429)	(401)	(56)	(57)	52)	180)
Retained earnings (deficit)	(700)	(727)	(175)	54)	411)	965)	970)	1,151)	1,242)	1,358)	2,152)	2,859)	3,535)	3,476)	3,521)	3,786)	3,886)	3,179)	2,729)	1,730)	927)	(191)	1,128)	1,577)	1,721)
Shareholders’ equity	13,468)	13,213)	14,007)	14,037)	13,944)	14,430)	14,226)	14,146)	13,971)	14,004)	14,531)	15,272)	15,822)	15,281)	14,809)	14,924)	14,343)	12,767)	11,931)	10,640)	9,224)	8,055)	9,045)	9,351)	9,200)
Total liabilities and shareholders’ equity	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)	38,577)	38,917)	37,917)	37,740)	36,185)	34,836)	33,258)	31,342)	26,220)	26,602)	26,249)

Current Portion of Long-Term Debt: The current portion of long-term debt remained low and stable between 2019 and early 2021, fluctuating from 6 million to 1 million. A significant increase is observed starting in 2022, with values rising to 500 million and subsequently doubling to 1000 million in later periods. This indicates a considerable increase in short-term debt obligations in recent years.
Notes Payable: Notes payable demonstrated considerable volatility throughout the periods. Initial values ranged widely, with a peak at 300 million in late 2019, followed by a sharp decline and fluctuations below 50 million from mid-2020 through early 2024. There is a modest increase noted towards the end of the timeline, suggesting fluctuating short-term borrowings.
Accounts Payable: Accounts payable showed notable variability without a clear trend. Values declined from 2716 million in 2019 to a low of approximately 1983 million in mid-2020, then increased sharply to a peak of 3772 million by mid-2025. This fluctuation may reflect changes in purchasing activity or payment cycles.
Current Portion of Operating Lease Liabilities: Operating lease liabilities due within one year remained relatively stable throughout, oscillating modestly between approximately 420 million and 506 million with no strong directional trend. This suggests consistent lease payment obligations.
Accrued Liabilities: Accrued liabilities increased steadily from 4455 million in 2019 to a peak near 6277 million in late 2022, followed by a decline and subsequent stabilization around 5900 million towards mid-2025. This pattern indicates growing short-term liabilities that moderate slightly in the most recent periods.
Income Taxes Payable: Income taxes payable showed high volatility, with values fluctuating between 156 million and 767 million, peaking in late 2023, before slightly declining. This suggests variable tax liabilities influenced by earnings and tax payments timing.
Current Liabilities: Current liabilities overall trended upward from about 8070 million in 2019 to a peak near 11246 million in late 2023, followed by a slight decrease and renewed increase by mid-2025. This reflects growth in short-term obligations over the period.
Long-Term Debt Excluding Current Portion: Long-term debt excluding current portion remained stable around 3460 million until early 2020, then surged dramatically to approximately 9400 million mid-2020 and maintained that elevated level until 2023. A decline is noted starting 2024, reaching around 7960 million by mid-2025, indicating debt refinancing or repayment activity.
Operating Lease Liabilities Excluding Current Portion: Long-term operating lease liabilities fluctuated slightly but displayed a downward trend from 2675 million in 2019 to around 2555 million by mid-2025. This suggests a modest reduction in long-term lease commitments.
Deferred Income Taxes and Other Liabilities: This liability category exhibited a gentle decline from roughly 2841 million in 2019 to the low 2100 million range by 2024, with some stabilization afterward. The overall decrease implies possible tax planning efficiencies or changes in deferred tax positions.
Non-Current Liabilities: Non-current liabilities spiked markedly in 2020 from approximately 8900 million to over 15000 million, maintaining that elevated level through 2023 before declining gradually to about 12955 million by mid-2025. This substantial increase appears aligned with the rise in long-term debt noted earlier and indicates increased long-term financial obligations.
Total Liabilities: Total liabilities rose significantly from around 17049 million in 2019 to a peak exceeding 25000 million in early 2022, followed by modest declines and subsequent fluctuations around 23000-24000 million. The rise is predominantly driven by increased debt and accrued obligations.
Equity Components: Common stock at stated value remained constant, reflecting no change in the share capital nominal amount. Capital in excess of stated value showed a consistent upward trend, increasing from 7296 million in 2019 to over 14473 million by mid-2025, indicating continued equity financing or retained earnings additions.
Accumulated Other Comprehensive Income (Loss): The accumulated other comprehensive income fluctuated notably, shifting from positive values near 180 million in 2019 to negative values around -400 million in 2020, recovering to positive peaks above 600 million by 2022, and again declining into negative territory near -300 million by mid-2025. This reflects variability in gains and losses outside net income, perhaps from foreign currency translations or hedging activities.
Retained Earnings: Retained earnings experienced significant volatility, declining into negative territory in mid-2020 (-191 million), then rising to a peak near 3886 million by late 2021, followed by a steady decrease to approximately -700 million by mid-2025. This pattern suggests fluctuating profitability and dividend policies impacting accumulated earnings.
Shareholders’ Equity: Total shareholders' equity rose from 9200 million in 2019 to a high of approximately 15281 million in mid-2022, then declined to about 13213 million by mid-2025. The initial growth is attributable to capital increases and retained earnings, while subsequent decreases relate to reductions in retained earnings and other comprehensive income fluctuations.
Total Liabilities and Shareholders’ Equity: The combined total increased steadily from 26249 million in 2019 to a peak near 41088 million in mid-2022, followed by a gradual decline to around 37334 million by mid-2025. This trajectory reflects overall growth in the company's financial scale with a recent phase of contraction or consolidation.

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Nike Inc. (NYSE:NKE)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data