Nike 2010 Annual Report Download - page 92
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Table of Contents NIKE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
As part of the Company’s centrally managed foreign exchange risk management program, standard foreign currency rates are assigned to each NIKE
Brand entity in our geographic operating segments and are used to record any non−functional currency revenues or product purchases into the entity’s
functional currency. Geographic operating segment revenues and cost of sales reflect use of these standard rates. For all NIKE Brand operating segments,
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 the centrally managed foreign exchange risk management program and other conversion gains and losses. For the years ended
May 31, 2009 and 2008, foreign currency hedge results along with other conversion gains and losses generated by the Western Europe and Central and
Eastern Europe geographies were recorded in their respective results.
Additions to long−lived assets as presented in the following table represent capital expenditures.
Accounts receivable, inventories and property, plant and equipment for operating segments are regularly reviewed by management and are therefore
provided below.
Certain prior year amounts have been reclassified to conform to fiscal 2010 presentation.
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