Nike 2003 Annual Report Download - page 38

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NIKE, INC.
CONSOLIDATED BALANCE SHEETS
May 31,
2003 2002
(In millions)
ASSETS
Current Assets:
Cash and equivalents ...................................................... $ 634.0 $ 575.5
Accounts receivable, less allowance for doubtful accounts of $87.9 and $80.4 ......... 2,101.1 1,804.1
Inventories (Note 2) ...................................................... 1,514.9 1,373.8
Deferred income taxes (Notes 1 and 8) ........................................ 163.7 140.8
Prepaid expenses and other current assets (Note 1) .............................. 266.2 260.5
Total current assets ................................................. 4,679.9 4,154.7
Property, plant and equipment, net (Note 3) ...................................... 1,620.8 1,614.5
Identifiable intangible assets, net (Note 4) ....................................... 118.2 206.0
Goodwill (Note 4) .......................................................... 65.6 232.7
Deferred income taxes and other assets (Notes 1 and 8) ............................ 229.4 232.1
Total assets ....................................................... $6,713.9 $6,440.0
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Current portion of long-term debt (Note 7) ..................................... $ 205.7 $ 55.3
Notespayable(Note6) .................................................... 75.4 425.2
Accounts payable (Note 6) ................................................. 572.7 504.4
Accrued liabilities (Notes 5 and 16) .......................................... 1,054.2 765.3
Incometaxespayable ..................................................... 107.2 83.0
Total current liabilities .............................................. 2,015.2 1,833.2
Long-term debt (Note 7) ..................................................... 551.6 625.9
Deferred income taxes and other liabilities (Notes 1 and 8) .......................... 156.1 141.6
Commitments and contingencies (Notes 15 and 16) ................................ — —
Redeemable Preferred Stock (Note 9) ........................................... 0.3 0.3
Shareholders’ Equity:
Common Stock at stated value (Note 10):
Class A convertible — 97.8 and 98.1 shares outstanding ...................... 0.2 0.2
Class B — 165.8 and 168.0 shares outstanding ............................. 2.6 2.6
Capital in excess of stated value ............................................. 589.0 538.7
Unearned stock compensation ............................................... (0.6) (5.1)
Accumulated other comprehensive loss (Note 14) ............................... (239.7) (192.4)
Retained earnings ........................................................ 3,639.2 3,495.0
Total shareholders’ equity ............................................ 3,990.7 3,839.0
Total liabilities and shareholders’ equity ................................ $6,713.9 $6,440.0
The accompanying notes to consolidated financial statements are an integral part of this statement.
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