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NKE » Topics » Basis of Consolidation

This excerpt taken from the NKE 10-K filed Jul 27, 2009.

Basis of Consolidation

The consolidated financial statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

These excerpts taken from the NKE 10-K filed Jul 28, 2008.

Basis of Consolidation

The consolidated financial statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

Basis of Consolidation

FACE="Times New Roman" SIZE="2">The consolidated financial statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%">Stock Split

On
February 15, 2007 the Board of Directors declared a two-for-one stock split of the Company’s Class A and Class B common shares, which was effected in the form of a 100% common stock dividend distributed on April 2, 2007. All
references to share and per share amounts in the consolidated financial statements and accompanying notes to the consolidated financial statements have been retroactively restated to reflect the two-for-one stock split.

STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%">Recognition of Revenues

SIZE="2">Wholesale revenues are recognized when the risks and rewards of ownership have passed to the customer, based on the terms of sale. This occurs upon shipment or upon receipt by the customer depending on the country of the sale and the
agreement with the customer. Retail store revenues are recorded at the time of sale. Provisions for sales discounts, returns and miscellaneous claims from customers are made at the time of sale.

STYLE="margin-top:18px;margin-bottom:0px; margin-left:2%">Shipping and Handling Costs

SIZE="2">Shipping and handling costs are expensed as incurred and included in cost of sales.

This excerpt taken from the NKE 10-K filed Jul 27, 2007.

Basis of Consolidation

The consolidated financial statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

This excerpt taken from the NKE 10-K filed Jul 28, 2006.

Basis of Consolidation

The consolidated financial statements include the accounts of NIKE, Inc. and its subsidiaries (the “Company”). All significant intercompany transactions and balances have been eliminated.

EXCERPTS ON THIS PAGE:

10-K
Jul 27, 2009
10-K (2 sections)
Jul 28, 2008
10-K
Jul 27, 2007
10-K
Jul 28, 2006

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