NIKE, Inc. Files Q1 FY25 10-Q
Ticker: NKE · Form: 10-Q · Filed: Oct 7, 2024 · CIK: 320187
| Field | Detail |
|---|---|
| Company | Nike, INC. (NKE) |
| Form Type | 10-Q |
| Filed Date | Oct 7, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Nike's Q1 FY25 10-Q is in. Check financials.
AI Summary
NIKE, Inc. filed its 10-Q for the period ending August 31, 2024. The filing covers the first quarter of fiscal year 2025. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Nike, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Numbers
- FY25 Q1 — Fiscal Quarter (Reporting period for this 10-Q filing)
- 2024-08-31 — Period End Date (The end date of the financial reporting period)
Key Players & Entities
- NIKE, Inc. (company) — Filer of the 10-Q
- 20240831 (date) — End of the reporting period
- 20241007 (date) — Filing date
- 001-10635 (other) — SEC File Number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 31, 2024, covering the first quarter of fiscal year 2025.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 7, 2024.
What is Nike's SEC File Number?
Nike's SEC File Number is 001-10635.
What is the company's primary SIC code?
The company's primary SIC code is 3021, for RUBBER & PLASTICS FOOTWEAR.
In which state is NIKE, Inc. incorporated?
NIKE, Inc. is incorporated in Oregon (OR).
Filing Stats: 4,685 words · 19 min read · ~16 pages · Grade level 15.9 · Accepted 2024-10-07 16:20:15
Filing Documents
- nke-20240831.htm (10-Q) — 1330KB
- nke-83124xexhibit311.htm (EX-31.1) — 10KB
- nke-83124xexhibit312.htm (EX-31.2) — 10KB
- nke-83124xexhibit321.htm (EX-32.1) — 5KB
- nke-83124xexhibit322.htm (EX-32.2) — 5KB
- nke-20240831_g1.jpg (GRAPHIC) — 7KB
- 0000320187-24-000065.txt ( ) — 6586KB
- nke-20240831.xsd (EX-101.SCH) — 31KB
- nke-20240831_cal.xml (EX-101.CAL) — 58KB
- nke-20240831_def.xml (EX-101.DEF) — 214KB
- nke-20240831_lab.xml (EX-101.LAB) — 458KB
- nke-20240831_pre.xml (EX-101.PRE) — 353KB
- nke-20240831_htm.xml (XML) — 1131KB
- 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 6 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 19
Quantitative and Qualitative Disclosures about Market Risk
ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 33
Controls and Procedures
ITEM 4. Controls and Procedures 33
- OTHER INFORMATION
PART II - OTHER INFORMATION 35
Legal Proceedings
ITEM 1. Legal Proceedings 35
Risk Factors
ITEM 1A. Risk Factors 35
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 ITEM 5. Other Information 37
Exhibits
ITEM 6. Exhibits 38
Signatures
Signatures 39 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 AUGUST 31, (In millions, except per share data) 2024 2023 Revenues $ 11,589 $ 12,939 Cost of sales 6,332 7,219 Gross profit 5,257 5,720 Demand creation expense 1,226 1,069 Operating overhead expense 2,822 3,047 Total selling and administrative expense 4,048 4,116 Interest expense (income), net ( 43 ) ( 34 ) Other (income) expense, net ( 55 ) ( 10 ) Income before income taxes 1,307 1,648 Income tax expense 256 198 NET INCOME $ 1,051 $ 1,450 Earnings per common share: Basic $ 0.70 $ 0.95 Diluted $ 0.70 $ 0.94 Weighted average common shares outstanding: Basic 1,497.7 1,528.4 Diluted 1,502.0 1,543.3 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 AUGUST 31, (Dollars in millions) 2024 2023 Net income $ 1,051 $ 1,450 Other comprehensive income (loss), net of tax: Change in net foreign currency translation adjustment 138 36 Change in net gains (losses) on cash flow hedges ( 227 ) ( 134 ) Change in net gains (losses) on other 9 3 Total other comprehensive income (loss), net of tax ( 80 ) ( 95 ) TOTAL COMPREHENSIVE INCOME $ 971 $ 1,355 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 CONSOLIDATED BALANCE SHEETS AUGUST 31, MAY 31, (In millions) 2024 2024 ASSETS Current assets: Cash and equivalents $ 8,485 $ 9,860 Short-term investments 1,809 1,722 Accounts receivable, net 4,764 4,427 Inventories 8,253 7,519 Prepaid expenses and other current assets 1,729 1,854 Total current assets 25,040 25,382 Property, plant and equipment, net 4,948 5,000 Operating lease right-of-use assets, net 2,