NKE · 10-Q · 2026Q3 · Full report

Liquidity and Cash Position

NIKE, Inc. · 2026-10-02 · Importance 37 · Surprise 6

Cash and equivalents plus short-term investments totaled $8.4 billion as of August 31, 2026. The portfolio primarily consisted of commercial paper, corporate notes, bank deposits, money market funds, U.S. Treasury obligations and other investment-grade fixed-income securities, with a weighted average maturity of 105 days. NIKE had no borrowings under its $3 billion commercial paper program and no amounts outstanding under committed credit facilities. Long-term debt ratings were A+ from S&P Global Ratings and A2 from Moody’s, and NIKE was in full covenant compliance.

Key facts

• Liquidity is also provided by our $3 billion commercial paper program and as of and for the three months ended August 31, 2026, we did not have any borrowings outstanding under our $3 billion program. source
• As of August 31, 2026, we had Cash and equivalents and Short-term investments totaling $8.4 billion. source
• As of August 31, 2026, we were in full compliance with the covenants under our committed credit facilities and no amounts were outstanding under our committed credit facilities. source
• We estimate the combination of translation of foreign currency-denominated profits and year-over-year change in foreign currency related gains and losses had a favorable impact of approximately $10 million on Income before income taxes for the three months ended August 31, 2026. source
• The impact of foreign exchange rate fluctuations on the translation of our Income before income taxes was a detriment of approximately $5 million for the three months ended August 31, 2026. source
• We currently have long-term debt ratings of A+ and A2 from S&P Global Ratings and Moody's Ratings, respectively. source
• As of August 31, 2026, the weighted average days to maturity of our cash equivalents and short-term investments portfolio was 105 days. source
• Other than the items described in the Recent Developments section, there have been no significant changes to the material cash requirements previously reported. source