01—Abstract
Summary
Summary of the 10-K/A filed September 28, 1995. Cited figures are marked; the original filing is the authoritative source.
This filing is Amendment No. 1 to NIKE, Inc.'s Form 10-K for the fiscal year ended May 31, 1995, signed by CFO Robert S.
Falcone on September 25, 1995. It is a limited amendment, not a complete annual report. It contains no financial statements, revenue or earnings figures, balance sheet data, or management discussion, so it cannot support an assessment of NIKE's 1995 financial performance.
The amendment makes three changes. It replaces the second paragraph of Item 2 (Business) with a revised description of the company: NIKE designs, develops, and markets footwear, apparel, and accessories; sells to about 16,000 U.S. retail accounts; reaches roughly 110 countries through independent distributors, licensees, and subsidiaries; relies on independent contractors for virtually all manufacturing, with most footwear made outside the U.S. and apparel made both domestically and abroad. It also revises Exhibit 10.2 to extend the termination date of the revolving credit facility to November 30, 1995, and adds Exhibit 27, a Financial Data Schedule.
For investors, the practical takeaways are limited. The revolving credit extension is the only item with a financial implication, and it is short-term. The contractor-based manufacturing model and broad distribution footprint are the most relevant business facts.
The filing contains several typographical errors ("mmix," "Untied," "Securiities"). Investors should review the original Form 10-K for the full financial picture, and the Exhibit 27 financial data schedule for summary figures if it is available.
02—Key points
Key Highlights
- Filing type is Amendment No. 1 (10-K/A) to the fiscal 2025 Form 10-K for the year ended May 31, 1995; it is partial and contains no financial statements or results.
- Business description revised: NIKE sells to about 16,000 U.S. retail accounts and works through distributors, licensees, and subsidiaries in roughly 110 countries.
- Virtually all products are made by independent contractors, with most footwear produced outside the United States and apparel produced both domestically and abroad.
- Exhibit 10.2 amended to extend the termination date of the revolving credit facility to November 30, 1995, a short-term extension.
- Exhibit 27 (Financial Data Schedule) added, which is where summary financial figures would be reported.
- The amendment was signed September 25, 1995 by Robert S. Falcone, Vice President and Chief Financial Officer.
- The filing contains several typographical errors, including "mmix," "Untied," and "Securiities," which may reflect limited review before filing.
03—Questions
Frequently Asked Questions
Does this amendment report NIKE's fiscal 1995 revenue, earnings, or financial position?
No. The amendment only revises one business description paragraph, one credit agreement exhibit reference, and adds an exhibit index entry for the Financial Data Schedule. The financial results must be taken from the original 10-K or the attached Exhibit 27.
How broad is NIKE's distribution as described in the amended filing?
The amended text says NIKE sells to approximately 16,000 retail accounts in the United States and reaches customers in about 110 countries through a mix of independent distributors, licensees, and subsidiaries.
What does the amendment imply about NIKE's manufacturing model?
Virtually all products are manufactured by independent contractors rather than NIKE-owned plants. Most footwear is produced outside the U.S., while apparel is produced both in the U.S. and abroad. This asset-light model lowers fixed-cost exposure but makes NIKE dependent on contractor capacity, quality, and labor conditions.
Why was the revolving credit agreement amended, and what is the significance?
The amendment extends the termination date of the revolving credit facility, originally dated January 1, 1994, to November 30, 1995. The filing does not state the facility size or drawn amounts. The extension keeps the facility in place through the near term, which supports liquidity planning, but the short window indicates it will need renewal soon.
04—Continue