Nike Inc. (NKE)


Cash Flow Statement
Quarterly Data

Beginner level

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Nike Inc., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended 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 May 31, 2014 Feb 28, 2014 Nov 30, 2013 Aug 31, 2013
Net income (loss) 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  698  682  534  779 
Depreciation 169  178  178  171  178  196  185  187  179  185  175  173  173  168  167  160  154  153  152  154  147  140  132  124  122 
Deferred income taxes (42) (33) 56  (7) 18  83  647  (24) (59) (74) (129) (20) (50) (74) 33  (8) (31) (156) (6) 14  35  45  (80) —  24 
Stock-based compensation 80  99  93  92  41  60  55  53  50  53  51  54  57  60  60  62  54  51  48  49  43  46  43  46  42 
Amortization and other (1) 13  (5) (5) 10  (3) 11  15  13  61  21  30 
Net foreign currency adjustments 49  15  44  166  31  (63) (48) (19) (27) (56) 27  (61) (94) 118  42  32  13  168  190  53  —  —  —  — 
(Increase) decrease in accounts receivable (456) 190  (136) (30) (294) 184  (140) 244  (101) 120  (228) (34) (284) 184  15  (191) 52  (107) 68  26  (203) (43) (166) 13  (102)
(Increase) decrease in inventories (270) (264) 37  (238) (25) (10) (2) (147) (96) (74) 143  (238) (62) (231) (5) (254) (100) (111) (192) (207) (111) (156) (72) (216) (61)
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets 38  (36) (43) (41) (83) 509  (266) 335  (543) 32  (67) (22) (63) (12) (35) (41) (73) (113) 27  (58) —  12  (97) (23) (102)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities (547) 866  (225) 679  205  76  1,279  (48) 208  (337) 42  176  (245) 342  (437) (7) (787) 732  722  34  (251) 574  234  (169) (114)
Changes in certain working capital components and other assets and liabilities (1,235) 756  (367) 370  (197) 759  871  384  (532) (259) (110) (118) (654) 283  (462) (493) (908) 401  625  (205) (565) 387  (101) (395) (379)
Adjustments to reconcile net income (loss) to net cash provided by operations (973) 1,021  (33) 677  209  1,133  1,708  556  (375) (119) (74) 121  (528) 338  (74) (240) (688) 477  1,000  209  (279) 620  55  (204) (161)
Cash provided by operations 394  2,010  1,068  1,524  1,301  2,270  787  1,323  575  889  1,067  963  721  1,184  876  545  491  1,342  1,791  864  683  1,318  737  330  618 
Purchases of short-term investments (504) (553) (613) (791) (980) (1,139) (642) (1,339) (1,663) (1,899) (1,671) (1,079) (1,279) (1,608) (908) (1,663) (1,188) (1,182) (1,166) (1,292) (1,296) (1,151) (1,387) (1,431) (1,417)
Maturities of short-term investments 16  102  432  781  400  512  872  826  1,403  1,190  690  1,181  562  903  511  789  721  1,031  762  788  1,074  1,047  1,223  844  818 
Sales of short-term investments 533  581  520  385  586  699  753  526  518  518  501  444  960  447  689  800  450  498  673  283  762  337  243  296  250 
Investments in reverse repurchase agreements —  —  —  —  —  —  —  —  —  —  —  —  —  —  150  50  (50) 100  (250) —  —  —  100  —  (100)
Additions to property, plant and equipment (284) (273) (216) (287) (343) (300) (230) (228) (270) (329) (264) (235) (277) (242) (286) (288) (327) (240) (236) (225) (262) (210) (221) (204) (245)
Disposals of property, plant and equipment —  —  —  (1) —  —  12  —  —  —  —  —  —  — 
Other investing activities (109) —  —  —  —  (25) —  —  —  —  19  (11) (42) (3) —  —  —  —  —  —  (1) —  —  (1)
Cash (used) provided by investing activities (348) (143) 124  88  (333) (250) 752  (214) (12) (520) (724) 312  (76) (490) 153  (312) (385) 207  (216) (446) 280  24  (42) (495) (694)
Net proceeds from long-term debt issuance —  —  —  —  —  —  —  —  —  —  —  1,482  —  —  —  981  —  —  —  —  —  —  —  —  — 
Long-term debt payments, including current portion —  (1) (2) (2) (1) (2) (1) (2) (1) (1) (40) (1) (2) (2) (1) (102) (1) (2) (1) (2) (2) (2) (1) (55) (2)
Increase (decrease) in notes payable 241  (5) (6) (321) 327  (1,218) 895  303  —  21  (101) 81  (48) 20  (25) (41) (17) 38  (22) 56 
Payments on capital lease and other financing obligations —  (6) (7) (8) (6) (7) (5) (5) (6) (3) (8) (4) (2) (2) (2) (3) —  (3) (4) (6) (6) (8) (9) —  — 
Proceeds from exercise of stock options and other stock issuances 111  213  147  153  187  179  234  162  158  150  101  126  112  137  42  200  128  142  59  186  127  75  75  139  94 
Excess tax benefits from share-based payment arrangements —  —  —  —  —  —  —  —  —  52  47  19  59  50  30  126  75  68  34  72  44  24  37  44  27 
Repurchase of common stock (999) (881) (768) (1,277) (1,360) (1,560) (918) (972) (804) (794) (475) (900) (1,054) (540) (1,458) (652) (588) (679) (612) (424) (819) (912) (788) (402) (526)
Dividends, common and preferred (345) (346) (348) (318) (320) (323) (325) (295) (300) (299) (298) (267) (269) (270) (273) (239) (240) (241) (242) (207) (209) (212) (212) (187) (188)
Other financing activities (18) —  (6) —  (11) (1) (1) (54) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Cash used by financing activities (1,010) (1,026) (977) (1,458) (1,832) (1,387) (2,234) (216) (998) (592) (670) 455  (1,135) (626) (1,763) 392  (674) (695) (791) (422) (882) (997) (920) (405) (592)
Effect of exchange rate changes on cash and equivalents (56) (70) 57  (13) (103) (46) 53  (2) 40  10  (50) 11  26  (73) (20) (38) (17) (42) (26) 11  (5) (8)
Net increase (decrease) in cash and equivalents (1,020) 771  272  141  (967) 587  (642) 891  (395) (213) (318) 1,680  (479) 94  (807) 605  (606) 837  742  (30) 83  356  (222) (575) (676)

Based on: 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), 10-K (filing date: 2014-07-25), 10-Q (filing date: 2014-04-07), 10-Q (filing date: 2014-01-07), 10-Q (filing date: 2013-10-07).

Cash flow statement item Description The company
Cash provided by operations Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Nike Inc.’s cash provided by operations increased from Q3 2019 to Q4 2019 but then decreased significantly from Q4 2019 to Q1 2020.
Cash (used) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Nike Inc.’s cash (used) provided by investing activities decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Cash used by financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Nike Inc.’s cash used by financing activities decreased from Q3 2019 to Q4 2019 but then slightly increased from Q4 2019 to Q1 2020.