Attached files
| file | filename |
|---|---|
| EX-99.3 - EXHIBIT 99.3 - NIKE, Inc. | exhibit993-supplementalnik.htm |
| EX-99.2 - EXHIBIT 99.2 - NIKE, Inc. | exhibit992-divisionalreven.htm |
| EX-99.1 - EXHIBIT 99.1 - NIKE, Inc. | exhibit991-pressrelease.htm |
| 8-K - 8-K - NIKE, Inc. | form8k.htm |
NIKE, Inc. | ||||||||||||||||||||||||||||||||||||||||
EARNINGS BEFORE INTEREST AND TAXES1,2 | ||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||
1st Quarter | % Change | 2nd Quarter | % Change | 3rd Quarter | % Change | 4th Quarter | % Change | Full Year | % Change | |||||||||||||||||||||||||||||||
(Dollars in millions) | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||||||||||||||||||||||||||||
North America | $ | 1,004 | $ | 1,042 | -4 | % | $ | 912 | $ | 882 | 3 | % | $ | 980 | $ | 903 | 9 | % | $ | 979 | $ | 936 | 5 | % | $ | 3,875 | $ | 3,763 | 3 | % | ||||||||||
Europe, Middle East & Africa | 485 | 597 | -19 | % | 313 | 407 | -23 | % | 361 | 415 | -13 | % | 348 | 368 | -5 | % | 1,507 | 1,787 | -16 | % | ||||||||||||||||||||
Greater China | 371 | 330 | 12 | % | 375 | 327 | 15 | % | 381 | 358 | 6 | % | 380 | 357 | 6 | % | 1,507 | 1,372 | 10 | % | ||||||||||||||||||||
Asia Pacific & Latin America | 209 | 280 | -25 | % | 266 | 264 | 1 | % | 228 | 226 | 1 | % | 277 | 232 | 19 | % | 980 | 1,002 | -2 | % | ||||||||||||||||||||
Global Brand Divisions3 | (771 | ) | (624 | ) | -24 | % | (619 | ) | (625 | ) | 1 | % | (598 | ) | (625 | ) | 4 | % | (689 | ) | (722 | ) | 5 | % | (2,677 | ) | (2,596 | ) | -3 | % | ||||||||||
TOTAL NIKE BRAND | 1,298 | 1,625 | -20 | % | 1,247 | 1,255 | -1 | % | 1,352 | 1,277 | 6 | % | 1,295 | 1,171 | 11 | % | 5,192 | 5,328 | -3 | % | ||||||||||||||||||||
Converse | 153 | 147 | 4 | % | 78 | 85 | -8 | % | 109 | 127 | -14 | % | 137 | 128 | 7 | % | 477 | 487 | -2 | % | ||||||||||||||||||||
Corporate4 | (163 | ) | (323 | ) | 50 | % | (196 | ) | (365 | ) | 46 | % | (119 | ) | (264 | ) | 55 | % | (246 | ) | (221 | ) | -11 | % | (724 | ) | (1,173 | ) | 38 | % | ||||||||||
TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES | 1,288 | 1,449 | -11 | % | 1,129 | 975 | 16 | % | 1,342 | 1,140 | 18 | % | 1,186 | 1,078 | 10 | % | 4,945 | 4,642 | 7 | % | ||||||||||||||||||||
Interest expense (income), net | 7 | 4 | — | 15 | 5 | — | 19 | 5 | — | 18 | 5 | — | 59 | 19 | — | |||||||||||||||||||||||||
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES | $ | 1,281 | $ | 1,445 | -11 | % | $ | 1,114 | $ | 970 | 15 | % | $ | 1,323 | $ | 1,135 | 17 | % | $ | 1,168 | $ | 1,073 | 9 | % | $ | 4,886 | $ | 4,623 | 6 | % | ||||||||||
1 The Company evaluates performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents net income before interest expense (income), net and income tax expense. | ||||||||||||||||||||||||||||||||||||||||
2 Certain prior year amounts have been recast to conform to fiscal 2018 presentation. This includes recast operating segment data to reflect the changes in the Company's operating structure, which became effective June 1, 2017. These changes had no impact on previously reported consolidated results of operations or shareholders' equity. | ||||||||||||||||||||||||||||||||||||||||
3 Global Brand Divisions primarily represent demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand. Revenues for Global Brand Divisions are primarily attributable to NIKE Brand licensing businesses that are not part of a geographic operating segment. | ||||||||||||||||||||||||||||||||||||||||
4 Corporate consists largely of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company’s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. | ||||||||||||||||||||||||||||||||||||||||