Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Nike Inc., consolidated balance sheet: liabilities and stockholders’ equity (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).
- Current Portion of Long-Term Debt
- The current portion of long-term debt remained steady around 6 million from August 2018 to February 2020, then decreased to 1 million by August 2020, disappeared for several periods, before sharply increasing to 500 million starting August 2022 and further doubling to 1000 million in February 2025, indicating a significant increase in short-term debt obligations in recent years.
- Notes Payable
- Notes payable exhibited high volatility throughout the periods. Early fluctuations were observed with peaks such as 250 and 300 million in 2019, followed by sharp declines. From mid-2023 onward, values mostly stabilized at a low level around 6 million, with sporadic increases including 49 million at November 2024. This suggests irregular short-term borrowing activity, with reduction and stabilization in the latest quarters.
- Accounts Payable
- Accounts payable showed moderate fluctuations, generally trending upward from approximately 2333 million in August 2018 to a peak of 3371 million in November 2022, followed by a gradual decline to around 3106 million by February 2025. This indicates a growing but somewhat variable level of trade payables over the period with some recent easing.
- Current Portion of Operating Lease Liabilities
- This item appeared starting mid-2019 at 427 million, rising slightly to about 470 million by early 2021, then gradually declining to 474 million by February 2025. The trend reflects a relatively consistent and slightly decreasing current lease liability over time.
- Accrued Liabilities
- Accrued liabilities increased from 4174 million in August 2018 to a peak of 6277 million in November 2022, then exhibited a declining trend to 5905 million by February 2025. The trend indicates growing accrued expenses and similar obligations through 2022, followed by a moderate reduction in recent periods.
- Income Taxes Payable
- Income taxes payable fluctuated with no clear directional trend, ranging between lows near 150 million to a high of 767 million in November 2024. This indicates variability in tax obligations, possibly reflecting changes in profitability and tax payment timing.
- Current Liabilities
- Current liabilities rose steadily from 6708 million in August 2018 to a peak of 10919 million in November 2022, before easing to around 11223 million by February 2025. Overall, current liabilities show an upward trajectory, consistent with increases in several constituent accounts.
- Long-Term Debt, Excluding Current Portion
- Long-term debt held steady near 3465 million until early 2020, then surged dramatically to about 9400 million mid-2020, maintaining this elevated level until mid-2023. A notable decrease occurred in late 2023 to approximately 7900 million, with slight fluctuations thereafter, suggesting refinancing or repayment activity during the recent periods.
- Operating Lease Liabilities, Excluding Current Portion
- Non-current operating lease liabilities increased from 2675 million in mid-2019 to a peak near 2961 million by August 2020, then trended downward to 2477 million by February 2025, indicating a gradual reduction in long-term lease obligations.
- Deferred Income Taxes and Other Liabilities
- This item trended downward overall from 3316 million in August 2018 to 2130 million by February 2025, with minor fluctuations. The decline suggests reduced deferred tax liabilities and other similar obligations.
- Non-Current Liabilities
- Non-current liabilities followed a similar pattern to long-term debt, rising sharply from approximately 6800 million in 2018 to over 15000 million by 2020, before gradually declining to about 12563 million in early 2025. This reflects increased long-term financial obligations during the middle period, followed by a reduction in recent years.
- Total Liabilities
- Total liabilities increased markedly from 13491 million in August 2018 to a peak of approximately 25266 million by November 2022, then declined slightly to 23786 million by February 2025. The overall pattern reflects a substantial buildup of liabilities over the period with some recent stabilization and reduction.
- Shareholders’ Equity
- Shareholders’ equity rose steadily from 8992 million in August 2018 to a peak near 15822 million in August 2022. Thereafter, a downward trend was visible, falling to approximately 14007 million by February 2025. This suggests strong equity growth prior to mid-2022, followed by modest declines potentially due to earnings pressure or distributions.
- Retained Earnings (Deficit)
- Retained earnings fluctuated significantly throughout, starting near 2494 million in 2018, dropping sharply to negative figures by mid-2020, then recovering to a peak near 3886 million in August 2021 before declining steadily to a deficit of -175 million by February 2025. This variability indicates episodes of net losses or high dividend payouts in recent years.
- Accumulated Other Comprehensive Income (Loss)
- The accumulated other comprehensive income showed volatility with positive and negative swings, from -30 million in 2018 to highs above 636 million in August 2022, followed by declines and moderate recovery ending around 263 million in February 2025. This reflects fluctuating gains and losses in components excluded from net income.
- Total Liabilities and Shareholders' Equity
- The total of liabilities and shareholders’ equity increased from 22483 million in 2018 to approximately 41088 million by August 2022, then decreased to about 37793 million by February 2025. This signals growth in the overall capital structure until 2022, followed by a contraction in the last few years.