Nike 2006 Annual Report Download - page 48

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NIKE, INC.
CONSOLIDATED BALANCE SHEETS
May 31,
2006 2005
(In millions)
ASSETS
Current assets:
Cash and equivalents .................................................... $ 954.2 $1,388.1
Short-term investments .................................................. 1,348.8 436.6
Accounts receivable, less allowance for doubtful accounts of $67.6 and $80.4 ....... 2,395.9 2,262.1
Inventories (Note 2) .................................................... 2,076.7 1,811.1
Deferred income taxes (Note 8) ........................................... 203.3 110.2
Prepaid expenses and other current assets ................................... 380.1 343.0
Total current assets ................................................. 7,359.0 6,351.1
Property, plant and equipment, net (Note 3) ...................................... 1,657.7 1,605.8
Identifiable intangible assets, net (Note 4) ....................................... 405.5 406.1
Goodwill (Note 4) .......................................................... 130.8 135.4
Deferred income taxes and other assets (Note 8) .................................. 316.6 295.2
Total assets ....................................................... $9,869.6 $8,793.6
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt (Note 7) ................................... $ 255.3 $ 6.2
Notes payable (Note 6) .................................................. 43.4 69.8
Accounts payable (Note 6) ............................................... 952.2 775.0
Accrued liabilities (Notes 5 and 16) ........................................ 1,286.9 1,053.2
Income taxes payable ................................................... 85.5 95.0
Total current liabilities .............................................. 2,623.3 1,999.2
Long-term debt (Note 7) ..................................................... 410.7 687.3
Deferred income taxes and other liabilities (Note 8) ............................... 550.1 462.6
Commitments and contingencies (Notes 14 and 16) ................................ — —
Redeemable Preferred Stock (Note 9) ........................................... 0.3 0.3
Shareholders’ equity:
Common stock at stated value (Note 10):
Class A convertible — 63.9 and 71.9 shares outstanding .................... 0.1 0.1
Class B — 192.1 and 189.2 shares outstanding ........................... 2.7 2.7
Capital in excess of stated value ........................................... 1,451.4 1,182.9
Unearned stock compensation ............................................. (4.1) (11.4)
Accumulated other comprehensive income (Note 13) .......................... 121.7 73.4
Retained earnings ...................................................... 4,713.4 4,396.5
Total shareholders’ equity ............................................ 6,285.2 5,644.2
Total liabilities and shareholders’ equity ................................ $9,869.6 $8,793.6
The accompanying notes to consolidated financial statements are an integral part of this statement.
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