Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company 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.
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Nike Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).
The analyzed financial data exhibits several key trends and fluctuations across multiple quarters.
- Net Income
- Net income demonstrates variability, with periods of growth interspersed with declines. Notably, there is a sharp negative value in May 2020, likely reflecting extraordinary circumstances. Post that event, net income recovers and peaks around August 2021, followed by a general downward trend towards early 2025.
- Depreciation
- Depreciation expenses remain relatively stable throughout the period, generally fluctuating between US$170 million and US$200 million, indicating consistent investment in fixed assets and related charges.
- Deferred Income Taxes
- Deferred taxes show significant volatility, alternating between positive and negative values, with particularly large negative spikes in May 2022 and subsequent periods, suggesting changes in tax liabilities or accounting adjustments.
- Stock-Based Compensation
- Stock-based compensation shows a steady increasing trend, rising from US$41 million in August 2018 to near US$200 million in the later periods, which may reflect increased employee incentives or equity-based pay programs.
- Amortization, Impairment and Other
- This category is inconsistent, with occasional significant spikes (such as in February 2020) and some negative values, indicating episodic charges or reversals, possibly related to asset impairments or write-offs.
- Net Foreign Currency Adjustments
- Foreign currency adjustments fluctuate notably, with both favorable and unfavorable impacts. Following positive adjustments in earlier periods, there is a trend toward negative adjustments in parts of 2022 and 2023, which could reflect currency exchange rate pressures.
- Working Capital Components
- Accounts receivable and inventories exhibit marked swings, including sizeable increases and decreases, indicating shifting operational conditions or inventory management strategies. For example, accounts receivable rose significantly in May 2020, corresponding to a large positive cash flow in operations.
- Cash Provided (Used) by Operations
- Operating cash flow generally displays strong positive amounts, with a substantial dip into negative territory in May 2020. It recovered in subsequent quarters, showing peaks in late 2020 and 2021. The fluctuations in working capital components contribute significantly to these changes.
- Investing Activities
- Cash used in investing activities varies, with some quarters showing large outflows. Purchases of short-term investments peak in late 2020 and early 2021, while maturities and sales of these investments show corresponding inflows, indicating active portfolio management. Additions to property, plant, and equipment remain relatively steady, with slight downward trend over time.
- Financing Activities
- Financing cash flows reveal considerable variability. Noteworthy is the large inflow from borrowings in May 2020, likely linked to external financing during that quarter. Repurchase of common stock is consistently significant, indicating ongoing capital return to shareholders. Dividends remain fairly steady, signaling a stable payout policy despite operational fluctuations.
- Net Cash Position
- Net increases or decreases in cash and equivalents reflect the combined effect of all activities. The data reveals large positive increases around May 2020, followed by periods of both accumulation and reduction in cash reserves, consistent with operational challenges and corresponding liquidity management.