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PART II
NIKE, Inc. Consolidated Balance Sheets
May 31,
(In millions) 2016 2015
ASSETS
Current assets:
Cash and equivalents $ 3,138 $ 3,852
Short-term investments 2,319 2,072
Accounts receivable, net 3,241 3,358
Inventories 4,838 4,337
Prepaid expenses and other current assets 1,489 1,968
Total current assets 15,025 15,587
Property, plant and equipment, net 3,520 3,011
Identifiable intangible assets, net 281 281
Goodwill 131 131
Deferred income taxes and other assets 2,439 2,587
TOTAL ASSETS $ 21,396 $ 21,597
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt $ 44 $ 107
Notes payable 174
Accounts payable 2,191 2,131
Accrued liabilities 3,037 3,949
Income taxes payable 85 71
Total current liabilities 5,358 6,332
Long-term debt 2,010 1,079
Deferred income taxes and other liabilities 1,770 1,479
Commitments and contingencies
Redeemable preferred stock ——
Shareholders’ equity:
Common stock at stated value:
Class A convertible — 353 and 355 shares outstanding — —
Class B — 1,329 and 1,357 shares outstanding 33
Capital in excess of stated value 7,786 6,773
Accumulated other comprehensive income 318 1,246
Retained earnings 4,151 4,685
Total shareholders’ equity 12,258 12,707
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 21,396 $ 21,597
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
NIKE, INC. 2016 Annual Report and Notice of Annual Meeting 101
FORM 10-K