耐克 2025年季度报告

FORM10-Q (Mark One)☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE QUARTERLY PERIOD ENDEDAUGUST 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROMTO. NIKE, Inc. (Exact name of Registrant as specified in its charter) NIKE, INC.FORM 10-QTABLE OF CONTENTS PART I- FINANCIAL INFORMATION PART II- OTHER INFORMATION PART I - FINANCIALINFORMATION ITEM1. FINANCIAL STATEMENTS NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OFCOMPREHENSIVE INCOME NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS NIKE, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS NIKE, INC. NOTES TO THE UNAUDITED CONDENSEDCONSOLIDATED FINANCIAL STATEMENTS NOTE1 — SUMMARY OF SIGNIFICANT ACCOUNTINGPOLICIES BASIS OF PRESENTATION The Unaudited Condensed Consolidated Financial Statements include the accounts of NIKE, Inc. and its subsidiaries (the "Company" or"NIKE") and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the results ofoperations for the interim period. The year-end Condensed Consolidated Balance Sheet data as of May31, 2025, was derived from auditedfinancial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America("U.S. GAAP"). The interim financial information and notes thereto should be read in conjunction with the Company's latest Annual Report onForm 10-K for the fiscal year ended May31, 2025 (the "Annual Report"). The results of operations for the three months ended August 31, 2025,are not necessarily indicative of results for the entire fiscal year. RECENT ACCOUNTING PRONOUNCEMENTS In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includesamendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categoriesand income taxes paid by jurisdiction. The amendments are effective for the Company's annual periods beginning June 1, 2025 and may beapplied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company'sdisclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense DisaggregationDisclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure about the types of costs andexpenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for theCompany's annual periods beginning June 1, 2027, and interim periods beginning June 1, 2028, with early adoption permitted, and may beapplied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company'sdisclosures. NOTE2 — ACCRUED LIABILITIES Accrued liabilities included the following: NOTE3 — FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value on a recurring basis, including derivatives, equity securities andavailable-for-sale debt securities. The following tables present information about the Company's financial assets measured at fair value on a recurring basis as of August31,2025 and May31, 2025, and indicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: As of August31, 2025, the Company held $582million of available-for-sale debt securities with maturity dates within one year and $969millionwith maturity dates greater than one year and less than five years in Short-term investments on the Unaudited Condensed ConsolidatedBalance Sheets. The fair value of the Company's available-for-sale debt securities approximates their amortized cost. Included inInterest expense (income), net was interest income related to the Company's investment portfolio of $83million and $120million forthe three months ended August 31, 2025 and 2024, respectively. The following tables present information about the Company's derivative assets and liabilities measured at fair value on a recurring basis andindicate the level in the fair value hierarchy in which the Company classifies the fair value measurement: (1)If the foreign exchange and interest rate swap derivative instruments had been netted on the Unaudited Condensed Consolidated Balance Sheets, the asset and liabilitypositions each would have been reduced by $188million as of August31, 2025. As of that date, the Company posted $175million cash collateral to variouscounterparties on the derivative liability balance andnoamount of collateral was received from counterparties on the derivative asset balance. (1)If the foreign exchange and interest rate swap