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36 NIKE,INC.-Form10-K
PARTII
ITEM8Financial Statements and Supplemental Data
Consolidated Balance Sheets
(Inmillions)
May31,
2011 2010
ASSETS
Current assets:
Cash and equivalents $ 1,955 $ 3,079
Short-term investments (Note6) 2,583 2,067
Accounts receivable, net (Note1) 3,138 2,650
Inventories (Notes1 and 2) 2,715 2,041
Deferred income taxes (Note9) 312 249
Prepaid expenses and other current assets 594 873
Total current assets 11,297 10,959
Property, plant and equipment, net (Note3) 2,115 1,932
Identifi able intangible assets, net (Note4) 487 467
Goodwill (Note4) 205 188
Deferred income taxes and other assets (Notes9 and 17) 894 873
TOTAL ASSETS $ 14,998 $ 14,419
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt (Note8) $ 200 $ 7
Notespayable (Note7) 187 139
Accounts payable (Note7) 1,469 1,255
Accrued liabilities (Notes5 and 17) 1,985 1,904
Income taxes payable (Note9) 117 59
Total current liabilities 3,958 3,364
Long-term debt (Note8) 276 446
Deferred income taxes and other liabilities (Notes9 and 17) 921 855
Commitments and contingencies (Note15) — —
Redeemable Preferred Stock (Note10) — —
Shareholders’ equity:
Common stock at stated value (Note11):
ClassA convertible— 90 and 90 shares outstanding — —
ClassB— 378 and 394 shares outstanding 3 3
Capital in excess of stated value 3,944 3,441
Accumulated other comprehensive income (Note14) 95 215
Retained earnings 5,801 6,095
Total shareholders’ equity 9,843 9,754
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 14,998 $ 14,419
The accompanying notes to consolidated financial statements are an integral part of this statement.