Cover and table of contents

10K characters. Original on sec.gov · Markdown

Cover and table of contents

10-K 1 nke-531201910k.htm 10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED MAY 31, 2019

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO .

Commission File No. 1-10635

nikelogoorange.jpg

NIKE, Inc.

(Exact name of Registrant as specified in its charter)

OREGON93-0584541
(State or other jurisdiction of incorporation)(IRS Employer Identification No.)
One Bowerman Drive, Beaverton, Oregon97005-6453
(Address of principal executive offices)(Zip Code)
(503) 671-6453
(Registrant's telephone number, including area code)
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
Class B Common StockNKENew York Stock Exchange
(Title of each class)(Trading symbol)(Name of each exchange on which registered)
SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
NONE
Indicate by check mark:YESNO
•if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.þ¨
•if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.¨þ
•whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.þ¨
•whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).þ¨
•whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerþAccelerated filer¨Non-accelerated filer¨Smaller reporting company¨Emerging growth company¨
•if an emerging growth company, if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
•whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).¨þ
As of November 30, 2018, the aggregate market values of the Registrant's Common Stock held by non-affiliates were:
Class A$5,260,259,370
Class B94,690,612,760
$99,950,872,130
As of July 19, 2019, the number of shares of the Registrant's Common Stock outstanding were:
Class A315,024,752
Class B1,251,863,621
1,566,888,373

DOCUMENTS INCORPORATED BY REFERENCE:

Parts of Registrant's Proxy Statement for the Annual Meeting of Shareholders to be held on September 19, 2019 are incorporated by reference into Part III of this Report.

NIKE, INC.

ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

PAGE
PART I1
ITEM 1.Business1
General1
Products1
Sales and Marketing2
United States Market2
International Markets3
Significant Customer3
Product Research, Design and Development4
Manufacturing4
International Operations and Trade5
Competition5
Trademarks and Patents6
Employees6
Information about our Executive Officers7
ITEM 1A.Risk Factors8
ITEM 1B.Unresolved Staff Comments19
ITEM 2.Properties19
ITEM 3.Legal Proceedings19
ITEM 4.Mine Safety Disclosures19
PART II20
ITEM 5.Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities20
ITEM 6.Selected Financial Data22
ITEM 7.Management's Discussion and Analysis of Financial Condition and Results of Operations24
ITEM 7A.Quantitative and Qualitative Disclosures about Market Risk43
ITEM 8.Financial Statements and Supplementary Data45
ITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure85
ITEM 9A.Controls and Procedures85
ITEM 9B.Other Information85
PART III86
(Except for the information set forth under “Information about our Executive Officers” in Item 1 above, Part III is incorporated by reference from the Proxy Statement for the NIKE, Inc. 2019 Annual Meeting of Shareholders.)
ITEM 10.Directors, Executive Officers and Corporate Governance86
ITEM 11.Executive Compensation86
ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters86
ITEM 13.Certain Relationships and Related Transactions and Director Independence86
ITEM 14.Principal Accountant Fees and Services86
PART IV87
ITEM 15.Exhibits and Financial Statement Schedules87
ITEM 16.Form 10-K Summary90
Signatures92

PART I

Next: Item 1. BUSINESS