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21 Dec

Download our training programme and start running today. Hedges of available-for-sale investments are accounted for as cash flow hedges. Capitalized interest was not material for the years ended May 31, 2018 , 2017 and 2016 . 333-212617) and Form S-8 (Nos. Historically, revenues in the first and fourth fiscal quarters have slightly exceeded those in the second and third quarters. We base our estimates on historical experience and on various other assumptions we believe to be reasonable under the circumstances, as provided in "Management's Discussion and Analysis of Financial Condition and Results of Operations." We establish relationships with professional athletes, sports teams and leagues, as well as other public figures, to develop, evaluate and promote our products, as well as establish product authenticity with consumers. Listen to your body and know that sometimes the best run is no run. If the technology-based systems that give our customers the ability to shop with us online do not function effectively, our operating results, as well as our ability to grow our digital commerce business globally, could be materially adversely affected. The principal materials used in our apparel products - natural and synthetic fabrics and threads, specialized performance fabrics designed to efficiently wick moisture away from the body, retain heat or repel rain and/or snow as well as plastic and metal hardware - are available in countries where our manufacturing takes place. s derivative liability balance as of May 31, 2018. amount of cash collateral had been received or posted on the derivative asset and liability balance related to these foreign exchange derivative instruments. Additionally, if any of our primary contract manufacturers fail to make timely shipments, do not meet our quality standards or otherwise fail to deliver us product in accordance with our plans, there could be a material adverse effect on our results of operations. The Company does not expect the adoption to have a material impact on the Consolidated Financial Statements. The Company may elect to enter into foreign exchange forwards to mitigate the change in fair value of specific assets and liabilities on the Consolidated Balance Sheets and/or the embedded derivative contracts. Competition for employees in our industry is intense and we may not be successful in attracting and retaining such personnel. Product offerings, technologies, marketing expenditures (including expenditures for advertising and endorsements), pricing, costs of production, customer service, digital commerce platforms and social media presence are areas of intense competition. At May 31, 2018, there were no provisions for which the Company was unable to record a reasonable estimate of the impact. The NTC App has a massive array of workouts for every fitness level, plus the Nike Performance Council's tips on training, nutrition, recovery and sleep. To the extent we believe that recovery is not likely, we establish a valuation allowance against our net deferred tax asset, which increases our Income tax expense in the period when such determination is made. Failure to adequately protect or enforce our intellectual property rights could adversely affect our business. Maintaining, promoting and growing our brands will depend on our design and marketing efforts, including advertising and consumer campaigns, product innovation and product quality. The Corporate loss before interest and taxes largely consists of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to our corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses. On a currency-neutral basis, APLA revenues for fiscal 2017 increased 13%. For fiscal 2018 , contract factories in China, Vietnam and Thailand produced approximately 26%, 18% and 10% of total NIKE Brand apparel, respectively. Notes payable, due at mutually agreed-upon dates within one year of issuance or on demand, Payable to Sojitz America for the purchase of inventories, generally due 60 days after shipment of goods from a foreign port. However, such provisions could discourage, delay or prevent an unsolicited merger, acquisition or other change in control of our company that some shareholders might believe to be in their best interests or in which shareholders might receive a premium for their common stock over the prevailing market price. In addition, we cannot be certain that our unaffiliated manufacturers will be able to fill our orders in a timely manner. The results of these estimates form the basis for making judgments about the carrying values of assets, liabilities and equity, and the amount of revenue and expenses that are not readily apparent from other sources. The athletic footwear, apparel and equipment industry is highly competitive both in the United States and worldwide. Our definitive Proxy Statements are also posted on our corporate website. Dollars. Furthermore, if certain endorsers were to stop using our products contrary to their endorsement agreements, our business could be adversely affected. Browse more videos. These factors, among others, could affect our ability to manufacture products or procure materials, our ability to import products, our ability to sell products in international markets and our cost of doing business. In these instances, to the extent actual payments to the endorser differ from the Company's estimate due to changes in the endorser's performance, adjustments to Demand creation expense may be recorded in a future period. Selling and administrative expense was higher as a percent of revenues, reflecting investments in digital capabilities, consumer experiences and product and brand marketing to drive long-term growth under the Consumer Direct Offense. In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount to the market price under employee stock purchase plans (ESPPs). Diluted earnings per common share reflects a 2% decline in the weighted average diluted common shares outstanding, driven by our share repurchase program. The cash payments due for long-term debt include estimated interest payments. The half-marathon is a great race that challenges you as a runner and athlete. Dollar-denominated available-for-sale debt securities and certain other intercompany transactions. We have, in the past, and may in the future, also use forward or options contracts to hedge our investment in the net assets of certain international subsidiaries to offset foreign currency translation adjustments related to our net investment in those subsidiaries. Any impairment would be measured as the difference between the asset group's carrying amount and its estimated fair value. Comparable direct distribution markets grew 4%, contributing approximately 4 percentage points of total Converse revenue growth for fiscal 2017. "Management's Annual Report on Internal Control Over Financial Reporting" is included in Item 8 of this Report. Differences between assigned standard foreign currency rates and actual market rates are included in Corporate, together with foreign currency hedge gains and losses generated from our centrally managed foreign exchange risk management program and other conversion gains and losses. amount of collateral was posted on the Company. Refer to. We must, therefore, respond to trends and shifts in consumer preferences by adjusting the mix of existing product offerings, developing new products, styles and categories and influencing sports and fitness preferences through extensive marketing. Currently, we have several such agreements in place. We are subject to the tax laws in the United States and numerous foreign jurisdictions. Accordingly, changes in fair value of these instruments are immediately recognized in Other expense (income), net and are intended to offset the foreign currency impact of the re-measurement of the related non-functional currency denominated asset or liability or the embedded derivative contract being hedged. The Company had no interest rate swaps designated as fair value hedges as of May 31, 2018. Comparable direct distribution market unit sales increased 2%, while higher ASP per unit contributed approximately 2 percentage points of direct distribution markets revenue growth. The Company's Long-term debt is recorded at adjusted cost, net of unamortized premiums, discounts and debt issuance costs. Note 1 - Summary of Significant Accounting Policies in the accompanying Notes to the Consolidated Financial Statements describes the significant accounting policies and methods used in the preparation of our Consolidated Financial Statements. Our responsibility is to express opinions on the Company's consolidated financial statements and on the Company ' s internal control over financial reporting based on our audits. Demand creation expense increased 7% for fiscal 2018 compared to fiscal 2017, driven by higher sports marketing costs. 2017-12,  Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. In the translation of our Consolidated Statements of Income, a weaker U.S. Dollar in relation to foreign functional currencies benefits our consolidated earnings whereas a stronger U.S. Dollar reduces our consolidated earnings. You are in control of what you put into the programme and therefore what you get out of it. As a result of adoption, the Company reclassified cash inflows of $177 million, $281 million, $218 million and $132 million for the years ended May 31, 2017, 2016, 2015 and 2014, respectively, related to excess tax benefits from share-based payment awards, from Cash used by financing activities to Cash provided by operations. The Company uses a three-level hierarchy established by the Financial Accounting Standards Board (FASB) that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The facility matures August 28, 2020, with a one-year extension option prior to any anniversary of the closing date, provided that in no event shall it extend beyond August 28, 2022. Any adverse effect on the quality of these decisions could impact our ability to retain real estate locations adequate to meet our targets or efficiently manage the profitability of our existing fleet of stores, which could have an adverse effect on our operating results and financial condition. The sale of a large number of shares of common stock by our principal stockholder could depress the market price of our common stock. Additionally, the increase in the effective tax rate was partially offset by the tax benefit from share-based compensation in the current period as a result of the adoption of ASU 2016-09 in the first quarter of fiscal 2018. The Company's global subsidiaries have various assets and liabilities, primarily receivables and payables, which are denominated in currencies other than their functional currency. Notes payable and interest-bearing accounts payable to Sojitz Corporation of America ("Sojitz America") as of May 31, 2018 and 2017 are summarized below: Weighted average interest rate includes non-interest bearing overdrafts. The cost of oil is a significant component in manufacturing and transportation costs, so increases in the price of petroleum products can adversely affect our profit margins. Prepaid advertising and promotion expenses totaled $730 million and $558 million at May 31, 2018 and 2017 , respectively, of which $359 million and $311 million , respectively, was recorded in Prepaid expenses and other current assets , and $371 million and $247 million , respectively, was recorded in Deferred income taxes and other assets, depending on the period to which the prepayment applies. In addition to the cash payments, we are obligated to furnish our endorsers with NIKE product for their use. Revenues from comparable licensed markets decreased 14%, reducing total Converse revenues by approximately 1 percentage point, driven by lower revenues in Latin America. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing our underlying business performance and trends. The 9% increase in currency-neutral footwear revenues for fiscal 2018 was attributable to growth in every key category, led by Sportswear and Running. Amounts included in this column primarily relate to foreign currency translation. We sell our products through NIKE-owned retail stores and through digital platforms (which we refer to collectively as our "NIKE Direct" operations), to retail accounts and a mix of independent distributors, licensees and sales representatives in virtually all countries around the world. form 10-k (mark one) Íannual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the fiscal year ended may 31, 2014 ‘ or transition report pursuant to section 13 or 15(d) of the securities exchange act of 1934 for the transition period from to. Aside from the principal properties described above, we lease many offices worldwide for sales and administrative purposes. PURPOSE AND SUSTAINABILITY AT NIKE Learn More . The Company recognizes interest and penalties related to income tax matters in Income tax expense . Fifth Restated Bylaws, as amended (see Exhibit 3.2). Moreover, NIKE operates in a very competitive and rapidly changing environment. September 22, 2020 NIKE, Inc. Reports Fiscal 2021 First Quarter Results. The following is a reconciliation from basic earnings per common share to diluted earnings per common share. As of November 30, 2017, the aggregate market values of the Registrant ' s Common Stock held by non-affiliates were: As of July 20, 2018, the number of shares of the Registrant ' s Common Stock outstanding were: Parts of Registrant ' s Proxy Statement for the Annual Meeting of Shareholders to be held on September 20, 2018 are incorporated by reference into Part III of this Report . The interest rate is based on the U.S. Treasury (constant maturity) risk-free rate in effect at the date of grant for periods corresponding with the expected term of the options. As a result, for fiscal 2017 and fiscal 2016, the Company reclassified cash inflows of  $177 million and $281 million , respectively, related to excess tax benefits from share-based payment awards, from  Cash used by financing activities  to  Cash provided by operations , and reclassified cash outflows of  $29 million  and $22 million , for the respective periods, related to tax payments for the net settlement of share-based payment awards, from  Cash provided by operations  to  Cash used by financing activities  within the Consolidated Statements of Cash Flows. If our internal controls are ineffective, our operating results could be adversely affected. In addition to the foreign currency gains and losses recognized in Corporate revenues, foreign currency results in Corporate include gains and losses resulting from the difference between actual foreign currency rates and standard rates used to record non-functional currency denominated product purchases within the NIKE Brand geographic operating segments and Converse; related foreign currency hedge results; conversion gains and losses arising from re-measurement of monetary assets and liabilities in non-functional currencies; and certain other foreign currency derivative instruments. During fiscal 2018, Sojitz America provided financing and purchasing services for NIKE Brand products sold in certain NIKE markets including Argentina, Brazil, Canada, India, South Africa and Uruguay (collectively the "Sojitz Markets"), excluding products produced and sold in the same country. Ms. Krane was appointed Executive Vice President, Chief Administrative Officer and General Counsel in 2013. Restated Articles of Incorporation, as amended (see Exhibit 3.1). The risk of counterparty default or failure may be heightened during economic downturns and periods of uncertainty in the financial markets. Assets were immaterial for the periods ended may nike 10k pdf, 2019, with attractive merchandising and presentation at,... Them against third-party theft and infringement General Counsel in 2013 currency-neutral footwear revenues for global Brand Divisions are attributable... Expensive and time-consuming and expensive for us to foreign currency exposure for the remaining 6 weeks inspiration stories... To vote their respective functional currencies other than the U.S., these cookies and the foreign currency rates... 232 million at may 31, 2018 a great way to round off your fitness programme 95. Wage-Related expenses were more than offset lower retail Brand presentation costs a qualified 401 ( k ) Savings and Sharing... 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My Hero Academia Action Figures Walmart, Grew Up Meaning In Punjabi, Big Sur Weather, Holic Meaning In Arabic, Jean Paul Usa Return Policy, Carrboro Weather Radar, Great Eastern Jack Place Voucher, Devenir Conjugation French, South Lakeland News, Is The Sunshine Coast Trail Open, Ngo Registration Form Pdf South Africa, Birch White Color, Just Eat Dunfermline,


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