2. 3. 4. 5. 6. Describe Nike's current assets. Are there patterns? Surprises? Describe Nike's current...

 

  
 
 

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2. 3. 4. 5. 6. Describe Nike's current assets. Are there patterns? Surprises? Describe Nike's current liabilities. Are there patterns? Surprises? Comment on Nike's net working capital in 2013, 2014, and 2015. What are Nike's net operating working capital in 2013, 2014, and 2015? Use the 2013 and 2014 balance sheets and Nike's 2014 income statement to construct a statement of cash flows. Describe Nike's operations, financing, and investment decisions. 7. Use the 2014 and 2015 balance sheets and Nike's 2015 income statement to determine Nike's free cash flows from operations. 8. Use the 2014 and 2015 balance sheets and Nike's 2015 income statement to construct a statement of cash flows. Describe Nike's operations, financing, and investment decisions. Use the 2013 and 2014 balance sheets and Nike's 2014 income statement to determine Nike's free cash flows from operations. Revenue Gross profit Operating expenses EBITDA EBIT NIKE, INC INCOME STATEMENTS (For May 31, 2013 - 2015) ($ Millions) Cost of revenue Sales, General and administrative Depreciation and Amortization Interest Expense Other income (expense) Earnings before taxes Income taxes Net income from continuing operations Net income from discontinuing ops Net income 2013 25,313 14,279 11,034 7,796 3,767 511 3,256 18 3,272 808 2,464 21 2,485 2014 27,799 15,353 12,446 8,766 4,312 768 3,544 (136) 3,544 851 2,693 2,693 2015 30,601 16,534 14,067 9,892 4,824 619 4,205 30 4,205 932 3,273 3,273 Current assets Cash and cash equivalents Short-term investments Total cash Receivables Inventories Deferred income taxes Prepaid expenses NIKE, INC BALANCE SHEETS (For May 31, 2013 - 2015) ($ Millions) Total current assets Non-current assets Property, plant and equipment Gross property, plant and equipment Accumulated Depreciation 2013 2014 2015 3,337 2,220 3,852 2,628 2,922 2,072 5,965 5,142 5,924 3,117 3,434 3,358 3,434 3,947 4,337 308 355 389 802 818 13,626 13,696 1,968 15,976 5,500 6,220 6,352 (3,048) (3,386) (3,341) Net property, plant and equipment Goodwill Intangible assets Deferred income taxes Total non-current assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt Accounts payable Taxes payable Accrued liabilities Other current liabilities NIKE, INC BALANCE SHEETS (For May 31, 2013-2015) ($ Millions) Total current liabilities Non-current liabilities Long-term debt Deferred taxes liabilities Total non-current liabilities Total liabilities Stockholders' equity Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income Total stockholders' equity Total liabilities and stockholders' equity 2,452 131 382 993 1,651 3,958 4,898 17,584 2,834 131 282 1,210 1,292 2,502 6,428 3,011 131 281 2,201 5,624 18,594 21,600 178 174 1,646 1,930 290 636 1,572 1,993 240 294 3,926 5,027 11,156 17,584 1,199 1,544 2,743 7,770 3 5,184 5,868 5,695 4,871 274 85 10,824 18,594 181 2,131 245 3,375 402 6,334 1,079 1,480 2,559 8,893 6,776 4,685 1,246 12,707 21,600 2. 3. 4. 5. 6. Describe Nike's current assets. Are there patterns? Surprises? Describe Nike's current liabilities. Are there patterns? Surprises? Comment on Nike's net working capital in 2013, 2014, and 2015. What are Nike's net operating working capital in 2013, 2014, and 2015? Use the 2013 and 2014 balance sheets and Nike's 2014 income statement to construct a statement of cash flows. Describe Nike's operations, financing, and investment decisions. 7. Use the 2014 and 2015 balance sheets and Nike's 2015 income statement to determine Nike's free cash flows from operations. 8. Use the 2014 and 2015 balance sheets and Nike's 2015 income statement to construct a statement of cash flows. Describe Nike's operations, financing, and investment decisions. Use the 2013 and 2014 balance sheets and Nike's 2014 income statement to determine Nike's free cash flows from operations. Revenue Gross profit Operating expenses EBITDA EBIT NIKE, INC INCOME STATEMENTS (For May 31, 2013 - 2015) ($ Millions) Cost of revenue Sales, General and administrative Depreciation and Amortization Interest Expense Other income (expense) Earnings before taxes Income taxes Net income from continuing operations Net income from discontinuing ops Net income 2013 25,313 14,279 11,034 7,796 3,767 511 3,256 18 3,272 808 2,464 21 2,485 2014 27,799 15,353 12,446 8,766 4,312 768 3,544 (136) 3,544 851 2,693 2,693 2015 30,601 16,534 14,067 9,892 4,824 619 4,205 30 4,205 932 3,273 3,273 Current assets Cash and cash equivalents Short-term investments Total cash Receivables Inventories Deferred income taxes Prepaid expenses NIKE, INC BALANCE SHEETS (For May 31, 2013 - 2015) ($ Millions) Total current assets Non-current assets Property, plant and equipment Gross property, plant and equipment Accumulated Depreciation 2013 2014 2015 3,337 2,220 3,852 2,628 2,922 2,072 5,965 5,142 5,924 3,117 3,434 3,358 3,434 3,947 4,337 308 355 389 802 818 13,626 13,696 1,968 15,976 5,500 6,220 6,352 (3,048) (3,386) (3,341) Net property, plant and equipment Goodwill Intangible assets Deferred income taxes Total non-current assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt Accounts payable Taxes payable Accrued liabilities Other current liabilities NIKE, INC BALANCE SHEETS (For May 31, 2013-2015) ($ Millions) Total current liabilities Non-current liabilities Long-term debt Deferred taxes liabilities Total non-current liabilities Total liabilities Stockholders' equity Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive income Total stockholders' equity Total liabilities and stockholders' equity 2,452 131 382 993 1,651 3,958 4,898 17,584 2,834 131 282 1,210 1,292 2,502 6,428 3,011 131 281 2,201 5,624 18,594 21,600 178 174 1,646 1,930 290 636 1,572 1,993 240 294 3,926 5,027 11,156 17,584 1,199 1,544 2,743 7,770 3 5,184 5,868 5,695 4,871 274 85 10,824 18,594 181 2,131 245 3,375 402 6,334 1,079 1,480 2,559 8,893 6,776 4,685 1,246 12,707 21,600

Answer rating: 100% (QA)

Analysis of Nikes Financial Statements 1 Current Assets Patterns Cash and cash equivalents have been decreasing over the years while shortterm investments have been increasing This suggests that Nike ... View the full answer