chunk_id string | chunk string | source_url string | title string | chunk_idx int64 | chunk_start_char int64 | chunk_end_char int64 |
|---|---|---|---|---|---|---|
000000102::24 | ,681)
—
Investments in unconsolidated affiliates
(96,925)
(81,877)
(56,295)
Distributions from unconsolidated affiliates
63,960
100,700
322,631
Other
873
(31,112 | 000000102 | 24 | 4,905 | 5,101 | |
000000102::25 | )
(17,208)
Net cash provided by (used in) investing activities
2,159,304
3,519,434
(2,083,021)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facilities – maturities of
90 days or less | 000000102 | 25 | 5,101 | 5,358 | |
000000102::26 |
(1,595,089)
(3,634,049)
1,242,259
Issuance of long-term debt
3,550,000
3,250,000
1,000,000
Retirement of senior notes
(846,815)
(3,76 | 000000102 | 26 | 5,358 | 5,523 | |
000000102::27 | 4,167)
(2,265)
Debt issuance costs
(62,348)
(63,391)
(76,519)
Proceeds from issuance of bridge loan facility
1,304,625
—
—
Issuance of MGM Growth Properties Class A shares, net
| 000000102 | 27 | 5,523 | 5,727 | |
000000102::28 |
524,704
1,250,006
—
Dividends paid to common shareholders
(77,606)
(271,288)
(260,592)
Distributions to noncontrolling interest owners
(286,385)
(223,303)
(184,93 | 000000102 | 28 | 5,727 | 5,921 | |
000000102::29 | 2)
Purchases of common stock
(353,720)
(1,031,534)
(1,283,333)
Other
(53,939)
(41,868)
(45,384)
Net cash provided by (used in) financing activities
2,103,427
( | 000000102 | 29 | 5,921 | 6,108 | |
000000102::30 | 4,529,594)
389,234
Effect of exchange rate on cash
2,345
2,601
(1,985)
Cash and cash equivalents
Net increase for the period
2,772,033
802,842
26,767
Balance, beginning | 000000102 | 30 | 6,108 | 6,325 | |
000000102::31 | of period
2,329,604
1,526,762
1,499,995
Balance, end of period
$
5,101,637
$
2,329,604
$
1,526,762
Supplemental cash flow disclosures
Interest paid, net of amounts | 000000102 | 31 | 6,325 | 6,528 | |
000000102::32 | capitalized
$
639,718
$
826,970
$
723,609
Federal, state and foreign income taxes paid (refunds received), net
8,543
28,493
(10,100)
Non-cash investing and financing activities
Note receivable related to sale of | 000000102 | 32 | 6,528 | 6,777 | |
000000102::33 | Circus Circus Las Vegas and adjacent land
$
—
$
133,689
$
—
Investment in Bellagio BREIT Venture
—
62,133
—
Investment in MGP BREIT Venture
802,000
—
—
MGP BREIT Venture | 000000102 | 33 | 6,777 | 6,981 | |
000000102::34 | assumption of bridge loan facility
1,304,625
—
—
The accompanying notes are an integral part of these consolidated financial statements. | 000000102 | 34 | 6,981 | 7,133 | |
000000102::35 | 65 | 000000102 | 35 | 7,134 | 7,136 | |
000000103::0 | . We maintained an annual
dividend of $0.01 per share throughout 2022. | 000000103 | 0 | 0 | 70 | |
000000104::0 | dited)
Three months ended Twelve months ended
December 31,
2022
December 31,
2021
December 31,
2022
December 31,
2021
Las Vegas Strip Resorts $ 877,052 $ 698,739 $ 3,142,308 $ 1,738,211
Regional Operations 319,517 309,250 1,294,630 | 000000104 | 0 | 0 | 231 | |
000000104::1 | 1,217,814
MGM China (54,979) 5,015 (203,136) 25,367
Unconsolidated affiliates(1) (43,029) (49,698) (222,079) (131,590)
Management and other operations (3,037) 2,087 (11,934) 15,766
Stock compensation (25,1 | 000000104 | 1 | 231 | 437 | |
000000104::2 | 59) (26,494) (71,297) (63,984)
Corporate(2) (113,058) (117,491) (431,238) (380,501)
$ 957,307 $ 3,497,254 | 000000104 | 2 | 437 | 542 | |
000000105::0 | dited)
Three months ended Twelve months ended
December 31,
2022
December 31,
2021
December 31,
2022
December 31,
2021
Net income attributable to MGM Resorts International $ 284,002 $ 131,013 $ 1,473,093 $ 1,254,370
Plus: Net loss attributable to noncontrolling interests (604,016) (14,92 | 000000105 | 0 | 0 | 287 | |
000000105::1 | 6) (1,266,362) (45,981)
Net income (loss) (320,014) 116,087 206,731 1,208,389
Provision for income taxes 285,937 31,152 697,068 253,415
Income (loss) before income taxes (34,077) 147,239 903, | 000000105 | 1 | 287 | 478 | |
000000105::2 | 799 1,461,804
Non-operating (income) expense
Interest expense, net of amounts capitalized 137,132 201,477 594,954 799,593
Other, net (104,951) 20,131 (59,381) 17,302
32,181 221,608 535,573 816,895
| 000000105 | 2 | 478 | 675 | |
000000105::3 | Operating income (loss) (1,896) 368,847 1,439,372 2,278,699
Preopening and start-up expenses 504 3,452 1,876 5,094
Property transactions, net (1,060,701) (68,578) (1,036,997) (67,736)
Depreciation and amortization 1,421,63 | 000000105 | 3 | 675 | 897 | |
000000105::4 | 7 297,031 3,482,050 1,150,610
Gain on REIT transactions, net — — (2,277,747) —
Gain on consolidation of CityCenter, net — — — (1,562,329)
Triple-net operating lease and ground lease rent expense 600,467 262,307 1,950,566 833,158
Gain related to sale of Harmon land - un | 000000105 | 4 | 897 | 1,166 | |
000000105::5 | consolidated affiliate — — — (49,755)
Income from unconsolidated affiliates related to real estate
ventures (2,704) (41,651) (61,866) (166,658)
Adjusted EBITDAR $ 957,307 $ 3,497,254 | 000000105 | 5 | 1,166 | 1,348 | |
000000106::0 | Las Vegas Strip Resorts
• Net revenues of $8.4 billion in the current year compared to $4.7 billion in the prior year, an
increase of 77%;___FINANCEBENCH_DELIMITER___Regional Operations
• Net revenues of $3.8 billion in the current year compared to $3.4 billion in the prior year, an
increase of 12%;___FINANCEBENCH_DELI... | 000000106 | 0 | 0 | 451 | |
000000107::0 | Fair value level June 30, 2023 December 31, 2022
(In thousands)
Cash and cash equivalents:
Money market funds Level 1 $ 2,195 $ 12,009
Commercial paper and certificates of deposit Level 2 — 5,992
Cash and cash equivalents 2,195 18,001
Short-term investments:
U.S. government securities Level 1 57,696 56,835
U.S. | 000000107 | 0 | 0 | 312 | |
000000107::1 | agency securities Level 2 29,049 9,530
Commercial paper and certificates of deposit Level 2 4,561 4,466
Corporate bonds Level 2 416,420 213,875
Short-term investments 507,726 284,706
Total debt investments $ 509,921 $ 302,707 | 000000107 | 1 | 313 | 538 | |
000000108::0 | Table of Contents
PART II
Item 8
ITEM 8. | 000000108 | 0 | 0 | 44 | |
000000108::1 | ANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INCOME STATEMENTS
(In millions, except per share amounts)
Year Ended June 30,
2016
2015
2014
Revenue:
Product
$ 61,502
$ 75,956
$ 72,948
Service and other
23,818
17,624
13,885
Total revenue
85... | 000000108 | 1 | 48 | 370 | |
000000108::2 | 20
93,580
86,833
Cost of revenue:
Product
17,880
21,410
16,681
Service and other
14,900
11,628
10,397
Total cost of revenue
32,780
33,038
27,078
Gross margin
52,540
6 | 000000108 | 2 | 370 | 641 | |
000000108::3 | 0,542
59,755
Research and development
11,988
12,046
11,381
Sales and marketing
14,697
15,713
15,811
General and administrative
4,563
4,611
4,677
Impairment, integration, and restructuring
1,110
10,011
127
Operating income
| 000000108 | 3 | 641 | 945 | |
000000108::4 |
20,182
18,161
27,759
Other income (expense), net
(431)
346
61
Income before income taxes
19,751
18,507
27,820
Provision for income taxes
2,953
6,314
5,746
Net income
$ 16,798
$ 12,193
$ | 000000108 | 4 | 945 | 1,212 | |
000000108::5 | 22,074
Earnings per share:
Basic
$
2.12
$
1.49
$
2.66
Diluted
$
2.10
$
1.48
$
2.63
Weighted average shares outstanding:
Basic
7,925
8,177
8,299
Diluted
8,013
8,254
8,399
Cash dividends | 000000108 | 5 | 1,212 | 1,503 | |
000000108::6 | declared per common share
$
1.44
$
1.24
$
1.12
See accompanying notes. | 000000108 | 6 | 1,503 | 1,585 | |
000000108::7 | 52 | 000000108 | 7 | 1,588 | 1,590 | |
000000109::0 | BALANCE SHEETS
(In millions)
June 30, 2023 2022
Assets
Current assets:
Cash and cash equivalents $ 34,704 $ 13,931
Short-term investments 76,558 90,826
Total cash, cash equivalents, and short-term investments 111,262 104,757
Accounts receivable, net of allowance for doubtful accounts of $650 and $633 48,688 44, | 000000109 | 0 | 0 | 312 | |
000000109::1 | 261
Inventories 2,500 3,742
Other current assets 21,807 16,924
Total current assets 184,257 169,684
Property and equipment, net of accumulated depreciation of $68,251 and $59,660 95,641 74,398
Operating lease right-of-use assets 14,346 13,148
Equity investments 9,879 | 000000109 | 1 | 312 | 580 | |
000000109::2 | 6,891
Goodwill 67,886 67,524
Intangible assets, net 9,366 11,298
Other long-term assets 30,601 21,897
Total assets $ 411,976 $ 364,840
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 18,095 $ 19,000
Current portion of long-term debt 5,247 2, | 000000109 | 2 | 580 | 850 | |
000000109::3 | 749
Accrued compensation 11,009 10,661
Short-term income taxes 4,152 4,067
Short-term unearned revenue 50,901 45,538
Other current liabilities 14,745 13,067
Total current liabilities 104,149 95,082
Long-term debt 41,990 47,032
Long-term income taxes 25,560 2 | 000000109 | 3 | 850 | 1,108 | |
000000109::4 | 6,069
Long-term unearned revenue 2,912 2,870
Deferred income taxes 433 230
Operating lease liabilities 12,728 11,489
Other long-term liabilities 17,981 15,526
Total liabilities 205,753 198,298 | 000000109 | 4 | 1,108 | 1,300 | |
000000110::0 | Table of Contents
NETFLIX, INC. | 000000110 | 0 | 0 | 31 | |
000000110::1 | CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year ended December 31,
2015
2014
2013
Revenues
$
6,779,511 $
5,504,656 $
4,374,562
Cost of revenues
4,591,476
3,752,760
3,117,203
Marketing
824,092 | 000000110 | 1 | 32 | 285 | |
000000110::2 |
607,186
469,942
Technology and development
650,788
472,321
378,769
General and administrative
407,329
269,741
180,301
Operating income
305,826
402,648
228,347
Other income (expense):
Interest expense
(132,716)
(50,219 | 000000110 | 2 | 285 | 538 | |
000000110::3 | )
(29,142)
Interest and other income (expense)
(31,225)
(3,060)
(3,002)
Loss on extinguishment of debt
—
—
(25,129)
Income before income taxes
141,885
349,369
171,074
Provision for income taxes
19,244
82,570
58,671
Net income
$
12 | 000000110 | 3 | 538 | 795 | |
000000110::4 | 2,641 $
266,799 $
112,403
Earnings per share:
Basic
$
0.29 $
0.63 $
0.28
Diluted
$
0.28 $
0.62 $
0.26
Weighted-average common shares outstanding:
Basic
425,889
420,544
407,385
Diluted
436,45 | 000000110 | 4 | 795 | 1,019 | |
000000110::5 | 6
431,894
425,327
See accompanying notes to consolidated financial statements. | 000000110 | 5 | 1,019 | 1,101 | |
000000110::6 | 38___FINANCEBENCH_DELIMITER___Table of Contents
NETFLIX, INC. | 000000110 | 6 | 1,102 | 1,163 | |
000000110::7 | CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Year Ended December 31,
2015
2014
2013
Cash flows from operating activities:
Net income
$
122,641 $
266,799 $
112,403
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Additions to streami... | 000000110 | 7 | 1,164 | 1,521 | |
000000110::8 | 773,019)
(3,030,701)
Change in streaming content liabilities
1,162,413
593,125
673,785
Amortization of streaming content assets
3,405,382
2,656,279
2,121,981
Amortization of DVD content assets
79,380
71,491
71,325
Depreciation and amortization of property | 000000110 | 8 | 1,521 | 1,796 | |
000000110::9 | , equipment and intangibles
62,283
54,028
48,374
Stock-based compensation expense
124,725
115,239
73,100
Excess tax benefits from stock-based compensation
(80,471)
(89,341)
(81,663)
Other non-cash items
31,628
15,282
5,332
Loss on extinguishment of debt
—
— | 000000110 | 9 | 1,796 | 2,081 | |
000000110::10 |
25,129
Deferred taxes
(58,655)
(30,063)
(22,044)
Changes in operating assets and liabilities:
Other current assets
18,693
(9,198)
43,177
Accounts payable
51,615
83,812
18,374
Accrued expenses
48,810
55,636
1,941
Deferred revenue
72 | 000000110 | 10 | 2,081 | 2,350 | |
000000110::11 | ,135
58,819
46,295
Other non-current assets and liabilities
(18,366)
(52,406)
(8,977)
Net cash (used in) provided by operating activities
(749,439)
16,483
97,831
Cash flows from investing activities:
Acquisition of DVD content assets
(77,958)
(74,790)
(65,927 | 000000110 | 11 | 2,350 | 2,640 | |
000000110::12 | )
Purchases of property and equipment
(91,248)
(69,726)
(54,143)
Other assets
(1,912)
1,334
5,939
Purchases of short-term investments
(371,915)
(426,934)
(550,264)
Proceeds from sale of short-term investments
259,079
385,300
347,502 | 000000110 | 12 | 2,640 | 2,896 | |
000000110::13 |
Proceeds from maturities of short-term investments
104,762
141,950
60,925
Net cash used in investing activities
(179,192)
(42,866)
(255,968)
Cash flows from financing activities:
Proceeds from issuance of common stock
77,980
60,544
124,557
Proceeds from issuance of debt
1,500,000
40 | 000000110 | 13 | 2,896 | 3,211 | |
000000110::14 | 0,000
500,000
Issuance costs
(17,629)
(7,080)
(9,414)
Redemption of debt
—
—
(219,362)
Excess tax benefits from stock-based compensation
80,471
89,341
81,663
Principal payments of lease financing obligations
(545)
(1,093)
(1,180)
Net cash provided by financing activities | 000000110 | 14 | 3,211 | 3,508 | |
000000110::15 |
1,640,277
541,712
476,264
Effect of exchange rate changes on cash and cash equivalents
(15,924)
(6,686)
(3,453)
Net increase in cash and cash equivalents
695,722
508,643
314,674
Cash and cash equivalents, beginning of year
1,113,608
604,965
290,29 | 000000110 | 15 | 3,508 | 3,780 | |
000000110::16 | 1
Cash and cash equivalents, end of year
$
1,809,330 $
1,113,608 $
604,965
Supplemental disclosure:
Income taxes paid
$
27,658 $
50,573 $
7,465
Interest paid
111,761
41,085
19,114
Investing activities included in liabilities
18,824
23,802 | 000000110 | 16 | 3,780 | 4,043 | |
000000110::17 |
11,508
See accompanying notes to consolidated financial statements. | 000000110 | 17 | 4,043 | 4,113 | |
000000110::18 | 40 | 000000110 | 18 | 4,114 | 4,116 | |
000000111::0 | Table of Contents
NETFLIX, INC. | 000000111 | 0 | 0 | 31 | |
000000111::1 | CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
As of December 31,
2017
2016
Assets
Current assets:
Cash and cash equivalents
$
2,822,795 $
1,467,576
Short-term investments
—
266,206
Current content assets, net
4,310,934
3,726,307
Other current assets
53... | 000000111 | 1 | 32 | 356 | |
000000111::2 | 5
260,202
Total current assets
7,669,974
5,720,291
Non-current content assets, net
10,371,055
7,274,501
Property and equipment, net
319,404
250,395
Other non-current assets
652,309
341,423
Total assets
$
19,012,742 $
13,58 | 000000111 | 2 | 356 | 598 | |
000000111::3 | 6,610
Liabilities and Stockholders’ Equity
Current liabilities:
Current content liabilities
$
4,173,041 $
3,632,711
Accounts payable
359,555
312,842
Accrued expenses
315,094
197,632
Deferred revenue
618,622
443,472
Total current liabilities
5,466,312
4,586,6 | 000000111 | 3 | 598 | 886 | |
000000111::4 | 57
Non-current content liabilities
3,329,796
2,894,654
Long-term debt
6,499,432
3,364,311
Other non-current liabilities
135,246
61,188
Total liabilities
15,430,786
10,906,810
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $0.001 par value; | 000000111 | 4 | 886 | 1,182 | |
000000111::5 | 10,000,000 shares authorized at December 31, 2017 and 2016; no shares
issued and outstanding at December 31, 2017 and 2016
—
—
Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2017 and December 31,
2016, respectively; 433,392,686 and 43 | 000000111 | 5 | 1,182 | 1,454 | |
000000111::6 | 0,054,212 issued and outstanding at December 31, 2017 and
December 31, 2016, respectively
1,871,396
1,599,762
Accumulated other comprehensive loss
(20,557)
(48,565)
Retained earnings
1,731,117
1,128,603
Total stockholders’ equity
3,581,956
2,679 | 000000111 | 6 | 1,454 | 1,715 | |
000000111::7 | ,800
Total liabilities and stockholders’ equity
$
19,012,742 $
13,586,610
See accompanying notes to consolidated financial statements. | 000000111 | 7 | 1,715 | 1,851 | |
000000111::8 | 43 | 000000111 | 8 | 1,852 | 1,854 | |
000000112::0 | Table of Contents
NIKE, Inc. | 000000112 | 0 | 0 | 28 | |
000000112::1 | ated Statements of Income
Year Ended May 31,
(In millions, except per share data)
2018
2017
2016
Revenues
$
36,397
$
34,350 $
32,376
Cost of sales
20,441
19,038
17,405
Gross profit
15,956
15,312
14,971
Demand creation expense
3,577 | 000000112 | 1 | 37 | 297 | |
000000112::2 |
3,341
3,278
Operating overhead expense
7,934
7,222
7,191
Total selling and administrative expense
11,511
10,563
10,469
Interest expense (income), net
54
59
19
Other expense (income), net
66
(196)
(140)
Income before income taxes
4,325
4,886
4,623
Income tax expense
2 | 000000112 | 2 | 297 | 601 | |
000000112::3 | ,392
646
863
NET INCOME
$
1,933
$
4,240 $
3,760
Earnings per common share:
Basic
$
1.19
$
2.56 $
2.21
Diluted
$
1.17
$
2.51 $
2.16
Dividends declared per common share
$
0.78
$
0.70 $
0. | 000000112 | 3 | 601 | 833 | |
000000112::4 | 62
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement. | 000000112 | 4 | 833 | 939 | |
000000112::5 | 44 | 000000112 | 5 | 940 | 942 | |
000000113::0 | Table of Contents
NIKE, INC. | 000000113 | 0 | 0 | 28 | |
000000113::1 | CONSOLIDATED BALANCE SHEETS
MAY 31,
(Dollars in millions)
2019
2018
ASSETS
Current assets:
Cash and equivalents
$
4,466
$
4,249
Short-term investments
197
996
Accounts receivable, net
4,272
3,498
Inventories
5,622
5,261
Prepaid expenses and other current assets
1,968
1,130
Total | 000000113 | 1 | 29 | 318 | |
000000113::2 | current assets
16,525
15,134
Property, plant and equipment, net
4,744
4,454
Identifiable intangible assets, net
283
285
Goodwill
154
154
Deferred income taxes and other assets
2,011
2,509
TOTAL ASSETS
$
23,717
$
22,536
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term | 000000113 | 2 | 318 | 632 | |
000000113::3 | debt
$
6
$
6
Notes payable
9
336
Accounts payable
2,612
2,279
Accrued liabilities
5,010
3,269
Income taxes payable
229
150
Total current liabilities
7,866
6,040
Long-term debt
3,464
3,468
Deferred income taxes and other liabilities
3,347
3,216
Commitments and contingencies (Note 18)
Rede | 000000113 | 3 | 632 | 921 | |
000000113::4 | emable preferred stock
—
—
Shareholders' equity:
Common stock at stated value:
Class A convertible — 315 and 329 shares outstanding
—
—
Class B — 1,253 and 1,272 shares outstanding
3
3
Capital in excess of stated value
7,163
6,384
Accumulated other comprehensive income (loss)
231
(92)
Retained earnings
1,643
3,... | 000000113 | 4 | 921 | 1,274 | |
000000113::5 | 040
9,812
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
23,717
$
22,536
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement. | 000000113 | 5 | 1,274 | 1,448 | |
000000113::6 | 52 NIKE, INC. | 000000113 | 6 | 1,449 | 1,462 | |
000000114::0 | Table of Contents
NIKE, INC. | 000000114 | 0 | 0 | 28 | |
000000114::1 | CONSOLIDATED STATEMENTS OF INCOME
YEAR ENDED MAY 31,
(In millions, except per share data)
2021
2020
2019
Revenues
$
44,538 $
37,403 $
39,117
Cost of sales
24,576
21,162
21,643
Gross profit
19,962
16,241
17,474
Demand creation expense
3,11 | 000000114 | 1 | 29 | 274 | |
000000114::2 | 4
3,592
3,753
Operating overhead expense
9,911
9,534
8,949
Total selling and administrative expense
13,025
13,126
12,702
Interest expense (income), net
262
89
49
Other (income) expense, net
14
139
(78)
Income before income taxes
6,661
2,887
4,801
Income tax expense
9 | 000000114 | 2 | 274 | 558 | |
000000114::3 | 34
348
772
NET INCOME
$
5,727 $
2,539 $
4,029
Earnings per common share:
Basic
$
3.64 $
1.63 $
2.55
Diluted
$
3.56 $
1.60 $
2.49
Weighted average common shares outstanding:
Basic
1,573.0
1,558.8
1,579.7
Diluted
1, | 000000114 | 3 | 558 | 780 | |
000000114::4 | 609.4
1,591.6
1,618.4
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement. | 000000114 | 4 | 780 | 908 | |
000000114::5 | 2021 FORM 10-K 57___FINANCEBENCH_DELIMITER___Table of Contents
NIKE, INC. | 000000114 | 5 | 909 | 982 | |
000000114::6 | CONSOLIDATED BALANCE SHEETS
MAY 31,
(In millions)
2021
2020
ASSETS
Current assets:
Cash and equivalents
$
9,889 $
8,348
Short-term investments
3,587
439
Accounts receivable, net
4,463
2,749
Inventories
6,854
7,367
Prepaid expenses and other current assets
1,498
1,653
Total current assets
2 | 000000114 | 6 | 983 | 1,282 | |
000000114::7 | 6,291
20,556
Property, plant and equipment, net
4,904
4,866
Operating lease right-of-use assets, net
3,113
3,097
Identifiable intangible assets, net
269
274
Goodwill
242
223
Deferred income taxes and other assets
2,921
2,326
TOTAL ASSETS
$
37,740 $
31,342
LIABILITIES AND SHAREHOLD | 000000114 | 7 | 1,282 | 1,576 | |
000000114::8 | ERS' EQUITY
Current liabilities:
Current portion of long-term debt
$
— $
3
Notes payable
2
248
Accounts payable
2,836
2,248
Current portion of operating lease liabilities
467
445
Accrued liabilities
6,063
5,184
Income taxes payable
306
156
Total current liabilities
9,674
8,284
Long-term debt
9,413
9,406
... | 000000114 | 8 | 1,576 | 1,925 | |
000000114::9 | ,931
2,913
Deferred income taxes and other liabilities
2,955
2,684
Commitments and contingencies (Note 18)
Redeemable preferred stock
—
—
Shareholders' equity:
Common stock at stated value:
Class A convertible — 305 and 315 shares outstanding
—
—
Class B — 1,273 and 1,243 shares outstanding
3
3
Capital in exc... | 000000114 | 9 | 1,925 | 2,279 | |
000000114::10 | Accumulated other comprehensive income (loss)
(380)
(56)
Retained earnings (deficit)
3,179
(191)
Total shareholders' equity
12,767
8,055
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
37,740 $
31,342
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement. | 000000114 | 10 | 2,279 | 2,584 | |
000000114::11 | 2021 FORM 10-K 59 | 000000114 | 11 | 2,585 | 2,602 | |
000000115::0 | NIKE, INC. | 000000115 | 0 | 0 | 10 | |
000000115::1 | CONSOLIDATED STATEMENTS OF CASH FLOWS
YEAR ENDED MAY 31,
(Dollars in millions) 2023 2022 2021
Cash provided (used) by operations:
Net income $ 5,070 $ 6,046 $ 5,727
Adjustments to reconcile net income to net cash provided (used) by operations:
Depreciation 703 717 744
Deferred income taxes (117) (650) (385)
| 000000115 | 1 | 11 | 320 | |
000000115::2 | Stock-based compensation 755 638 611
Amortization, impairment and other 156 123 53
Net foreign currency adjustments (213) (26) (138)
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable 489 (504) (1,606)
(Increase) decrease in inventories (133) (1,67... | 000000115 | 2 | 320 | 712 | |
000000115::3 | -use assets and other current and non-current
assets (644) (845) (182)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and noncurrent liabilities (225) 1,365 1,326
Cash provided (used) by operations 5,841 5,188 6,657
Cash provided (used) by investing activitie... | 000000115 | 3 | 712 | 1,093 | |
000000115::4 | 1)
Maturities of short-term investments 3,356 8,199 4,236
Sales of short-term investments 4,184 3,967 2,449
Additions to property, plant and equipment (969) (758) (695)
Other investing activities 52 (19) 171
Cash provided (used) by investing activities 564 (1,524) (3,800)
Cash provided (used) by financing activities: | 000000115 | 4 | 1,093 | 1,411 | |
000000115::5 |
Increase (decrease) in notes payable, net (4) 15 (52)
Repayment of borrowings (500) — (197)
Proceeds from exercise of stock options and other stock issuances 651 1,151 1,172
Repurchase of common stock (5,480) (4,014) (608)
Dividends — common and preferred (2,012) (1,837) (1,638)
Other financing activities (10 | 000000115 | 5 | 1,411 | 1,722 | |
000000115::6 | 2) (151) (136)
Cash provided (used) by financing activities (7,447) (4,836) (1,459)
Effect of exchange rate changes on cash and equivalents (91) (143) 143
Net increase (decrease) in cash and equivalents (1,133) (1,315) 1,541
Cash and equivalents, beginning of year 8,574 9,889 8,348
CASH AND EQUIVA | 000000115 | 6 | 1,722 | 2,020 | |
000000115::7 | LENTS, END OF YEAR $ 7,441 $ 8,574 $ 9,889 | 000000115 | 7 | 2,020 | 2,062 | |
000000116::0 | PayPal Holdings, Inc. | 000000116 | 0 | 0 | 21 |
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