NIKE, Inc. Files 10-Q for Period Ending February 29, 2024
Ticker: NKE · Form: 10-Q · Filed: Apr 4, 2024 · CIK: 320187
Sentiment: neutral
Topics: NIKE, 10-Q, Quarterly Report, Financials, Footwear
TL;DR
<b>NIKE, Inc. filed its quarterly report (10-Q) for the period ending February 29, 2024, detailing its financial performance.</b>
AI Summary
NIKE, Inc. (NKE) filed a Quarterly Report (10-Q) with the SEC on April 4, 2024. NIKE, Inc. reported financial results for the period ending February 29, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on May 31. NIKE, Inc. is incorporated in Oregon. The SIC code for NIKE, Inc. is 3021 (Rubber & Plastics Footwear).
Why It Matters
For investors and stakeholders tracking NIKE, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on NIKE's financial health and operational performance during the third quarter of its fiscal year. Understanding the details within this report is crucial for assessing NIKE's current market position and future growth prospects.
Risk Assessment
Risk Level: low — NIKE, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting.
Analyst Insight
Monitor future earnings reports and management commentary for insights into sales trends and strategic initiatives.
Key Numbers
- 2024-02-29 — Period End Date (Conformed period of report)
- 2024-04-04 — Filing Date (Filed as of date)
- 0531 — Fiscal Year End (Fiscal year end)
- 3021 — SIC Code (Standard Industrial Classification)
- OR — State of Incorporation (State of incorporation)
- 001-10635 — SEC File Number (SEC file number)
- 24823316 — Film Number (Film number)
- 76 — Public Document Count (Public document count)
Key Players & Entities
- NIKE, Inc. (company) — Filer name
- 2024-02-29 (date) — Conformed period of report
- 2024-04-04 (date) — Filed as of date
- OR (location) — State of incorporation
- 3021 (other) — Standard Industrial Classification
- 5036713173 (phone) — Business phone
- 19920703 (date) — Date of name change
- 2024 Q3 (period) — Filing quarter
FAQ
When did NIKE, Inc. file this 10-Q?
NIKE, Inc. filed this Quarterly Report (10-Q) with the SEC on April 4, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by NIKE, Inc. (NKE).
Where can I read the original 10-Q filing from NIKE, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NIKE, Inc..
What are the key takeaways from NIKE, Inc.'s 10-Q?
NIKE, Inc. filed this 10-Q on April 4, 2024. Key takeaways: NIKE, Inc. reported financial results for the period ending February 29, 2024.. The filing is a 10-Q, indicating a quarterly report.. The company's fiscal year ends on May 31..
Is NIKE, Inc. a risky investment based on this filing?
Based on this 10-Q, NIKE, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant deviations from typical reporting.
What should investors do after reading NIKE, Inc.'s 10-Q?
Monitor future earnings reports and management commentary for insights into sales trends and strategic initiatives. The overall sentiment from this filing is neutral.
Key Dates
- 2024-02-29: Period End — End of the reporting quarter for the 10-Q filing.
- 2024-04-04: Filing Date — Date NIKE, Inc. submitted the 10-Q to the SEC.
- 2024-05-31: Fiscal Year End — Marks the end of NIKE's fiscal year.
Filing Stats: 4,746 words · 19 min read · ~16 pages · Grade level 15.3 · Accepted 2024-04-04 16:16:10
Filing Documents
- nke-20240229.htm (10-Q) — 2113KB
- nke-22924xexhibit311.htm (EX-31.1) — 10KB
- nke-22924xexhibit312.htm (EX-31.2) — 10KB
- nke-22924xexhibit321.htm (EX-32.1) — 5KB
- nke-22924xexhibit322.htm (EX-32.2) — 5KB
- nke-20240229_g1.jpg (GRAPHIC) — 7KB
- 0000320187-24-000019.txt ( ) — 9102KB
- nke-20240229.xsd (EX-101.SCH) — 37KB
- nke-20240229_cal.xml (EX-101.CAL) — 60KB
- nke-20240229_def.xml (EX-101.DEF) — 254KB
- nke-20240229_lab.xml (EX-101.LAB) — 525KB
- nke-20240229_pre.xml (EX-101.PRE) — 396KB
- nke-20240229_htm.xml (XML) — 1897KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 1 ITEM 1.
Financial Statements
Financial Statements 1 Unaudited Condensed Consolidated Statements of Income 1 Unaudited Condensed Consolidated Statements of Comprehensive Income 2 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Cash Flows 4 Unaudited Condensed Consolidated Statements of Shareholders' Equity 5 Notes to the Unaudited Condensed Consolidated Financial Statements 7 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25
Quantitative and Qualitative Disclosures about Market Risk
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 45
Controls and Procedures
ITEM 4. Controls and Procedures 45
- OTHER INFORMATION
PART II - OTHER INFORMATION 47
Legal Proceedings
ITEM 1. Legal Proceedings 47
Risk Factors
ITEM 1A. Risk Factors 47
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 ITEM 5. Other Information 49
Exhibits
ITEM 6. Exhibits 50
Signatures
Signatures 51 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME THREE MONTHS ENDED NINE MONTHS ENDED (In millions, except per share data) FEBRUARY 29, 2024 FEBRUARY 28, 2023 FEBRUARY 29, 2024 FEBRUARY 28, 2023 Revenues $ 12,429 $ 12,390 $ 38,756 $ 38,392 Cost of sales 6,867 7,019 21,503 21,695 Gross profit 5,562 5,371 17,253 16,697 Demand creation expense 1,011 923 3,194 2,968 Operating overhead expense 3,215 3,036 9,294 9,035 Total selling and administrative expense 4,226 3,959 12,488 12,003 Interest expense (income), net ( 52 ) ( 7 ) ( 108 ) 22 Other (income) expense, net ( 16 ) ( 58 ) ( 101 ) ( 283 ) Income before income taxes 1,404 1,477 4,974 4,955 Income tax expense 232 237 774 916 NET INCOME $ 1,172 $ 1,240 $ 4,200 $ 4,039 Earnings per common share: Basic $ 0.77 $ 0.80 $ 2.76 $ 2.59 Diluted $ 0.77 $ 0.79 $ 2.74 $ 2.57 Weighted average common shares outstanding: Basic 1,513.2 1,543.8 1,520.8 1,556.7 Diluted 1,526.5 1,564.8 1,534.0 1,574.4 The accompanying Notes to the Unaudited Condensed Consolidated Financial Statements are an integral part of this statement. 1 Table of Contents NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THREE MONTHS ENDED NINE MONTHS ENDED (Dollars in millions) FEBRUARY 29, 2024 FEBRUARY 28, 2023 FEBRUARY 29, 2024 FEBRUARY 28, 2023 Net income $ 1,172 $ 1,240 $ 4,200 $ 4,039 Other comprehensive income (loss), net of tax: Change in net foreign currency translation adjustment ( 57 ) 153 18 281 Change in net gains (losses) on cash flow hedges 50 ( 433 ) ( 139 ) ( 279 ) Change in net gains (losses) on other 11 23 15 ( 18 ) Total other comprehensive income (loss), net of tax 4 ( 257 ) ( 106 ) ( 16 ) TOTAL COMPREHENSIVE INCOME $ 1,176 $ 983 $ 4,094 $ 4,023 The accompanying Notes to the Unaudited Condensed Consolidated Financial Statements are an integral part of this statement. 2 Table of Contents NIKE, INC. UNAUDITED CONDENSED C