Form 11-K
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

 

x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended May 31, 2012

OR

 

¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                     to                    

Commission File No. 001-10635

 

LOGO

 

 

NIKE, Inc.

(Full title of the plan)

 

 

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

(Name of issuer of the securities held pursuant to the plan)

One Bowerman Drive

Beaverton, Oregon 97005

(Address of the plan and address of issuer’s principal executive offices)

 

 

 


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Financial Statements and Supplemental Schedules

May 31, 2012 and 2011


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Index

 

     Page(s)  

Report of Independent Registered Public Accounting Firm

     1   

Financial Statements

  

Statements of Net Assets Available for Benefits May 31, 2012 and 2011

     2   

Statement of Changes in Net Assets Available for Benefits Year Ended May 31, 2012

     3   

Notes to Financial Statements May 31, 2012 and 2011

     4–14   

Supplemental Schedules

  

Schedule H, Line 4i – Schedule of Assets (Held at End of Year) May 31, 2012

     15–36   

Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year) Year Ended May  31, 2012

     37–38   

 

Note: Other schedules required by 29 CFR Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.


Table of Contents

 

LOGO

Report of Independent Registered Public Accounting Firm

To the Participants and Administrator of

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

In our opinion, the accompanying statements of net assets available for benefits and the related statements of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of 401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc. (the “Plan”) at May 31, 2012 and 2011, and the changes in net assets available for benefits for the year ended May 31, 2012 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule of Assets (Held at End of Year) at May 31, 2012, and Schedule of Assets (Acquired and Disposed of Within Year) for the year ended May 31, 2012 are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan’s management. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/ PricewaterhouseCoopers LLP

Portland, Oregon

November 21, 2012

PricewaterhouseCoopers LLP, 1300 SW Fifth Avenue, Suite 3100, Portland, OR 97201

T: (971) 544 4000, F: (971) 544 4100, www.pwc.com/us


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Statements of Net Assets Available for Benefits

May 31, 2012 and 2011

 

     2012     2011  

Assets

    

Investments, at fair value

    

Collective trust funds

   $ 1,304,605,985      $ 1,158,430,251   

NIKE, Inc. Class B common stock

     522,643,543        441,550,034   

Registered investment companies

     70,014,666        77,231,534   

Corporate and foreign bonds

     37,435,516        34,410,762   

Guaranteed investment contract

     3,414,452        —     

Interest bearing cash

     109        10,661   

Common and foreign stocks

     20,406        1,440   
  

 

 

   

 

 

 

Total investments

     1,938,134,677        1,711,634,682   
  

 

 

   

 

 

 

Receivables

    

Employer contributions

     42,389,605        40,431,957   

Notes receivable from participants

     26,552,534        22,606,115   

Participant contributions

     2,484,700        1,648,075   

Accrued interest and dividends

     2,511,330        810,639   

Due from broker for securities sold

     468,917        512,849   
  

 

 

   

 

 

 

Total receivables

     74,407,086        66,009,635   
  

 

 

   

 

 

 

Cash

     30,027        161,055   
  

 

 

   

 

 

 

Total assets

     2,012,571,790        1,777,805,372   
  

 

 

   

 

 

 

Liabilities

    

Due to broker for securities purchased

     298,035        924,621   

Accrued expenses

     126,351        127,521   
  

 

 

   

 

 

 

Total liabilities

     424,386        1,052,142   
  

 

 

   

 

 

 

Net assets available for benefits at fair value

     2,012,147,404        1,776,753,230   

Adjustment from fair value to contract value for interest in collective trust relating to fully benefit-responsive investment contracts

     (245,789     (509,521
  

 

 

   

 

 

 

Net assets available for benefits

   $ 2,011,901,615      $ 1,776,243,709   
  

 

 

   

 

 

 

The accompanying notes are an integral part of these financial statements.

 

2


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Statement of Changes in Net Assets Available for Benefits

Year Ended May 31, 2012

 

Additions

  

Investment income

  

Net appreciation in fair value of investments

   $ 58,294,096   

Interest and dividends

     12,227,511   
  

 

 

 

Total investment income

     70,521,607   

Less: Investment expenses

     (356,489
  

 

 

 

Net investment income

     70,165,118   
  

 

 

 

Interest income on notes receivable from participants

     1,073,973   
  

 

 

 

Contributions

  

Employer, net of forfeitures

     82,784,266   

Participant

     69,037,172   

Rollover

     5,709,244   
  

 

 

 

Total contributions

     157,530,682   
  

 

 

 

Total additions

     228,769,773   
  

 

 

 

Deductions

  

Benefits paid to participants

     (79,535,814

Administrative expenses

     (1,303,176
  

 

 

 

Total deductions

     (80,838,990
  

 

 

 

Net increase before transfer of assets

     147,930,783   

Transfer of affiliates’ assets relating to the Plan merger

     87,727,123   
  

 

 

 

Net increase

     235,657,906   

Net assets available for benefits

  

Beginning of year

     1,776,243,709   
  

 

 

 

End of year

   $ 2,011,901,615   
  

 

 

 

The accompanying notes are an integral part of these financial statements.

 

3


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

1. Description of the Plan

The following description of the 401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc. (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

General

The Plan was established to provide for the retirement income requirements of and sharing in Company profits by all employees of NIKE, Inc. (the “Company”) and a retirement savings program for the employees of the Company not covered by a collective bargaining agreement. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended. Administration of the Plan is performed by the Administrative Subcommittee of the Retirement Committee. The Plan is amended from time to time in order to comply with changes in applicable laws and to make changes in Plan administration.

The Northern Trust Company (“Northern Trust” or the “Trustee”) is the Trustee and Aon Hewitt Associates (“Aon Hewitt” or the “Recordkeeper”) is the Recordkeeper of the Plan’s assets. Selected assets are held in the custody of Charles Schwab & Co. Inc. (“Charles Schwab” or the “Custodian”) and are maintained by the Trustee. The Plan’s investment decisions are overseen by the Investment Subcommittee of the Retirement Committee. Members of the Retirement Committee are appointed by the Board of Directors of the Company.

On January 1, 2012, the Company merged the Cole Haan Retirement Savings Plan, Converse Inc. 401(k) Savings Plan, and Hurley International LLC Tax Advantaged Plan (collectively, the “Affiliate Plans”) with and into the Plan (the “Plan Merger”). As a result of the Plan Merger, all assets and liabilities of the Affiliate Plans became assets and liabilities of the Plan, and the Affiliate Plans ceased to exist as of the close of business on January 1, 2012.

Eligibility

All employees, except those employees who are (1) covered by a collective bargaining agreement, (2) living outside the United States and not covered by the Company expatriate program, (3) working at the Company’s Memphis Apparel Distribution Center, whose employment is established pursuant to the Company’s Seasonal On Call Casual Employee Reserve (“SOCCER”) program, (4) not common-law employees, such as leased employees and individuals designated by Nike as independent contractors, or (5) residing in Puerto Rico and working at the Puerto Rico facility, become eligible to receive profit sharing contributions on the first day of the Plan fiscal year coinciding with or immediately preceding completion of one year of employment with at least 1,000 hours of service. Employees are eligible to participate in the 401(k) portion of the Plan on the first day of employment.

Contributions

Participants may contribute up to 50% of their pre-tax annual compensation to the Plan, subject to annual individual deferral limitations under the Internal Revenue Code (“IRC”). Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions, as defined by the IRC. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. Additionally, the Company will match participant contributions at a rate of 100% of the first 5% of the participant’s total base pay that is contributed to the account.

 

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Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

Prior to May 13, 2011, the Company match contributions related to the Plan’s 401(k) feature were invested in NIKE, Inc. Class B common stock and as of June 1, 2001, these match contributions became subject to participant self-direction after the initial investment in Company stock was made to the Plan. Participants could redeem their shares in Company stock and reinvest the cash into other managed funds. As of May 13, 2011, the Company match followed participants’ fund selections and NIKE, Inc. Class B common stock became one of the investment choices. No more than 10% of a participant’s deferral and corresponding match can go into the NIKE stock fund and a participant can only transfer a portion of his or her existing account balance to purchase NIKE stock if the percentage of their account balance invested in NIKE stock is less than or equal to 20%. Transfers out of the NIKE stock fund are permitted at any time.

Under the Plan’s profit sharing features, the Company may make discretionary annual contributions as designated by the Company’s Board of Directors. However, this amount cannot be greater than the amount allowable as a tax deduction under the IRC. The annual contributions will be funded no later than the date the Company’s federal income tax return is filed.

Profit sharing contributions are invested in various fixed income and equity funds similar to those offered under the Plan’s 401(k) features. Investments held by the Plan on behalf of participants related to profit sharing contributions are nonparticipant-directed. In a nonparticipant-directed program, the Investment Committee, under the guidance of investment managers, directs the specific investments held by the Plan. See Note 7 for applicable disclosures. Investments held by the Plan on behalf of participants related to 401(k) contributions are participant-directed. In a participant-directed program, the individual participant selects the investments for his or her individual account.

Participant Accounts

Separate individual 401(k) and profit sharing accounts are maintained for each participant. Each participant’s 401(k) account is credited with the participant’s contributions and rollovers, the Company’s matching contributions, Plan expenses and an allocation of the Plan’s investment income or losses based upon the participant’s election of investment options. Participants direct the investment of their contributions into various investment options offered by the Plan.

An eligible profit sharing participant is entitled to an annual allocation of the employer profit sharing contribution and former participant profit sharing forfeitures after restoration of previously forfeited accounts. Employer profit sharing contributions and former participant forfeitures are allocated first in the proportion of the participant’s annual compensation to compensation of all participants, up to a maximum of 4% of the compensation of each participant. Contributions and forfeitures exceeding 4% of all participants’ annual compensation, if any, are allocated in the ratio of each participant’s excess compensation to total excess compensation of all participants, not to exceed 4% of such excess compensation. Excess compensation is defined as compensation in excess of the social security wage base. The balance of contributions and forfeitures, if any, is allocated to participants in the ratio of each participant’s annual compensation to the total of all participants’ annual compensation, subject to the IRC Section 415 defined maximum limitations. Participants do not direct the investment of profit sharing contributions.

Profit sharing investment income or loss and Plan expenses are allocated daily based on a ratio of each participant’s profit sharing account balance to the total profit sharing account balances.

The total benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested 401(k) and profit sharing accounts.

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

Vesting

Participants in the 401(k) portion of the Plan are immediately vested in their elective, rollover, and Company matching contributions, plus actual earnings thereon. The Company contributions into the profit sharing portion of the Plan vest at 25% per year after completing two years of service, and vesting increases 25% for each additional year of service until fully vested after five years. Participants in the profit sharing portion of the Plan become fully vested in the Company’s contributions in the event of total and permanent disability, death, attainment of 65 years of age, or termination of the Plan.

Forfeitures

Upon a participant’s termination, the unvested portion of the participant’s profit sharing account is forfeited. Profit sharing forfeitures may be used to reduce future employer contributions or be allocated back to active participants. During the year ended May 31, 2012, profit sharing forfeitures of $1,491,250 were used to reduce employer contributions. At May 31, 2012 and 2011, accumulated profit sharing forfeitures totaled $1,653,965 and $913,363, respectively.

Notes Receivable from Participants

Participants may borrow a portion of their elective and rollover contributions by applying to the Administrative Subcommittee. Participants may borrow from their accounts amounts equal to the lesser of 50% of their vested account balance or $50,000 reduced by the balance of any outstanding loans. The term of the loan repayments range up to five years for general purpose loans and up to ten years for the purchase of a primary residence. The loans are secured by the balance in the participant’s account and bear interest at the prime rate plus one percentage point. Principal and interest are paid ratably through monthly deductions.

Benefit Payments

On termination of service due to death, disability, hardship, resignation, discharge and retirement, a participant is eligible to receive payments in the amount equal to the value of the participant’s vested interest in his or her account.

Vested benefits are distributed to participants in a lump-sum payment upon termination or are transferred to another qualified trust. Participants with vested benefits greater than $1,000 can elect to receive a distribution or leave their balance in the Plan. Terminated participants with balances greater than $1,000 may leave their vested benefits in the Plan until reaching the age of 65. Participants may apply to the Administrative Subcommittee to withdraw their voluntary 401(k) contributions in the event the participant is over age 59-1/2, or the participant has a financial hardship as stipulated in the Plan provisions. No withdrawals may be made from the unvested portion of the Company’s matching contributions, profit sharing contributions, or earnings thereon.

Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, the accounts of all participants would become fully vested. The net assets of the Plan would be distributed among the participants and beneficiaries of the Plan in proportion to their interests after proper allocation of any Plan expenses incurred upon termination.

 

2. Significant Accounting Policies

Basis of Accounting

The accompanying financial statements have been prepared on the accrual basis of accounting.

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

Recent Accounting Pronouncements and Developments

In January 2010, the Financial Accounting Standards Board (“FASB”) issued updated guidance to improve disclosures regarding fair value measurements. This update requires entities to (i) disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers and (ii) present separately (i.e., on a gross basis rather than as one net number), information about purchases, sales, issuances and settlements in the roll forward of changes in Level 3 fair value measurements. The update requires fair value disclosures by major class rather than by category of assets and liabilities in the Statements of Net Assets Available for Benefits. Disclosures regarding the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements for assets and liabilities in both Level 2 and Level 3 are also required. For all portions of the update except the gross presentation of activity in the Level 3 roll forward, this standard is effective for interim and annual reporting periods beginning after December 15, 2009. For the gross presentation of activity in the Level 3 roll forward, this guidance is effective for fiscal years beginning after December 15, 2010. See Note 4 for applicable disclosures.

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (IFRS),” which is intended to improve the comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with GAAP and IFRS. The amendments are of two types: (i) those that clarify the FASB’s intent about the application of existing fair value measurement and disclosure requirements and (ii) those that change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The update is effective for annual periods beginning after December 15, 2011. The Plan’s management is in the process of evaluating the impact of the adoption of this update on the Plan’s financial statements.

Investment Valuation and Income Recognition

Managed funds consist of investments in preferred, common and foreign stock, corporate, preferred, and foreign bonds, collective trust funds, registered investment companies, U.S. government securities, guaranteed insurance contracts, and interest bearing cash. Investments in preferred, common and foreign stocks listed on a national securities exchange and over-the-counter securities are valued at the last reported sale price on the valuation date or, if no sales are reported for that day, the last published sale price. Bonds are valued based on market values quoted by dealers who are market makers in these securities, by independent pricing services, or by a methodology approved by Northern Trust. The fair value of the fixed income securities is determined based on valuations provided by an independent pricing service, which uses multiple valuation techniques that incorporate available market information and proprietary valuation models, which consider market characteristics, such as benchmark yield curve, credit spreads, estimated default rates and other security features. Investments in registered investment companies are stated at net asset value, based upon the fair market value of the underlying securities, as determined or provided by Northern Trust. Guaranteed insurance contracts are stated at fair value. Fair value represents an adjustment to contract value based on the market value of the investment in a principal market. Contract value represents contributions made under the contract, plus earnings, less participant benefit payments and administrative expenses. There are no reserves against contract value for credit risk of the contract issuer or otherwise.

Collective trust funds represent investments held in pooled funds. The investments are contributed from employee benefit plans maintained by more than one employer or a controlled group of corporations that is maintained by a bank, trust company, or similar institution that is regulated, supervised, and subject to periodic examination by a state or federal agency. The Plan’s interests in the collective trust funds are valued based on information provided by Northern Trust using the net asset value from the audited financial statements of the collective trust funds. The Plan invests in two collective trust funds, the “Schwab Stable Asset Fund” and the Union Bond & Trust Company Morley Stable Value Fund (“Morley Stable Value Fund”), which hold fully benefit-responsive investment contracts. These collective trust funds can be redeemed daily by participants subject to limitations on noncompeting options. The Morley Stable Value Fund’s trustee reserves the right to delay plan sponsor-initiated redemptions for up to 365 days. There are no other restrictions on collective trust transactions.

Investment contracts held by a defined contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in investment contracts through a collective trust fund and guaranteed insurance contract. The Statements of Net Assets Available for Benefits present the fair value of the investment in the collective trust funds as well as the adjustment of the investment in the collective trust funds from fair value to contract value relating to the investment contracts. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis.

Investments are purchased and sold at the fair value of the underlying investments and receive the interest and dividend earnings of the underlying investments. Purchases and sales of securities are recorded on a trade date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. The Plan presents, in the Statement of Changes in Net Assets Available for Benefits, the net appreciation or depreciation in the fair value of its investments, which consist of the realized gains or losses and the unrealized appreciation or depreciation on those investments.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable are reclassified as distributions based upon the terms of the Plan document.

Benefits Payable

Benefits are recorded when paid. Accordingly, benefits payable to persons that have elected to withdraw from the Plan but not yet paid have not been accrued. At May 31, 2012 and 2011, there were $849,252 and $475,195, respectively, payable to participants.

Expenses

Expenses of administering the Plan and those which are directly related to investment transactions are paid out of the assets of the Plan.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions to and deductions from net assets available for benefits during the reporting period. Actual results could differ from those estimates.

Risks and Uncertainties

The Plan invests in various investment securities that are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities, and thus the net asset value of the funds, will occur in the near term and that such changes could materially affect participant’s account balances and the amount reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits. Market values of investments may decline for a number of reasons, including changes in prevailing market and interest rates, increases in defaults and credit rating downgrades. The fair values assigned to the investments by the Plan are based upon available information believed to be reliable, which may be affected by conditions in the financial markets. The Plan may not be able to sell its investments when it desires to do so or to realize what it perceives to be its fair value in the event of a sale.

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

Subsequent Events

The Plan has evaluated subsequent events through November 21, 2012 and determined that no significant subsequent events have occurred requiring adjustments to the financial statements or disclosures.

 

3. Investments

The following presents investments that represent 5% or more of the Plan’s net assets at May 31, 2012:

 

Participant-directed

  

NIKE, Inc. Class B Common Stock

   $ 522,643,543   

Collective trust funds

  

Northern Trust Global Investments Collective Daily S&P 500 Equity Index Fund

     317,080,621   

Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund

     164,513,968   

Northern Trust Global Investments Collective Daily Russell 2000 Equity Index Fund

     151,527,888   

Northern Trust Bank NA Collective Daily All Country World Exchange Fund

     151,113,388   

Morley Stable Value Fund

     132,456,842   

Nonparticipant-directed

  

Collective trust funds

  

Northern Trust Global Investments Collective Daily S&P 500 Equity Index Fund

     121,638,169   

The following presents investments that represent 5% or more of the Plan’s net assets at May 31, 2011:

 

Participant-directed

  

NIKE, Inc. Class B Common Stock

   $ 441,550,034   

Collective trust funds

  

Northern Trust Global Investments Collective Daily S&P 500 Equity Index Fund

     236,689,807   

Northern Trust Bank NA Collective Daily All Country World Exchange Fund

     161,526,571   

Northern Trust Global Investments Collective Daily Russell 2000 Index Fund

     143,241,224   

Northern Trust Global Investments Collective Daily Aggregate Bond Index Fund

     119,539,339   

Schwab Stable Value Fund

     101,758,071   

Nonparticipant-directed

  

Collective trust funds

  

Northern Trust Global Investments Collective Daily S&P 500 Equity Index Fund

     117,000,195   

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

During the year ended May 31, 2012, all of the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated in value as follows:

 

NIKE, Inc. Class B common stock

   $ 119,129,313   

Morley Stable Value Fund

     248,223   

Collective trust funds

     (44,848,649

Registered investment companies

     (15,391,744

Corporate bonds

     (719,869

Preferred and common stocks

     (123,178
  

 

 

 
   $ 58,294,096   
  

 

 

 

 

4. Fair Value Measurement

In determining fair value, the Plan uses a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:

 

  Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

 

  Level 2 Inputs to the valuation methodology include:

 

   

Quoted prices for similar assets or liabilities in active markets;

 

   

Quoted prices for identical or similar assets or liabilities in inactive markets;

 

   

Inputs, other than quoted prices, that are observable for the asset or liability;

 

   

Inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

 

  Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The valuation methods described in Note 2 may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used at May 31, 2012 and 2011.

 

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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

The following tables set forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of May 31, 2012 and 2011:

 

     Assets at Fair Value at May 31, 2012  
     Level 1      Level 2      Level 3      Total  

Collective trust funds

           

Equity index funds

   $ —         $ 619,721,910       $ —         $ 619,721,910   

Common stock funds

     —           254,330,070         —           254,330,070   

Other fixed income funds

     —           262,957,562         —           262,957,562   

Real estate funds

     —           27,108,757         —           27,108,757   

Stable value funds

     —           —           132,456,842         132,456,842   

Other short term investment funds

     —           8,030,844         —           8,030,844   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total collective trust funds

     —           1,172,149,143         132,456,842         1,304,605,985   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common and foreign stocks

           

Consumer discretionary

     522,643,543         —           —           522,643,543   

Energy

     18,901         —           —           18,901   

Information technology

     1,505         —           —           1,505   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total common and foreign stocks

     522,663,949         —           —           522,663,949   
  

 

 

    

 

 

    

 

 

    

 

 

 

Registered investment companies

           

Commodity funds

     30,332,944         —           —           30,332,944   

Equity funds

     26,333,271         —           —           26,333,271   

Bond funds

     8,036,275         —           —           8,036,275   

Short term funds

     4,790,161         —           —           4,790,161   

Real estate funds

     522,015         —           —           522,015   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total registered investment companies

     70,014,666         —           —           70,014,666   

Guaranteed investment contract

     —           —           3,414,452         3,414,452   

Corporate and foreign bonds

     —           37,435,516         —           37,435,516   

Interest bearing cash

     109         —           —           109   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets at fair value

   $ 592,678,724       $ 1,209,584,659       $ 135,871,294       $ 1,938,134,677   
  

 

 

    

 

 

    

 

 

    

 

 

 

Level 3 Gains and Losses

The following table sets forth a summary of changes in the fair value of the Plan’s Level 3 assets for the year ended May 31, 2012:

 

           Guaranteed  
     Morley Stable     Investment  
     Value Fund     Contracts  

Balance at beginning of year

   $ —        $ —     

Purchases

     134,986,437        3,691,006   

Sales

     (2,267,291     (297,269

Realized gains / (losses)

     2,434        —     

Unrealized gains / (losses)

     (263,732     —     

Other

     (1,006     20,715   
  

 

 

   

 

 

 

Balance at end of year

   $ 132,456,842      $ 3,414,452   
  

 

 

   

 

 

 

 

11


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

 

     Assets at Fair Value at May 31, 2011  
     Level 1      Level 2      Level 3      Total  

Collective trust funds

           

Equity index funds

   $ —         $ 541,457,600       $ —         $ 541,457,600   

Common stock funds

     —           265,058,142         —           265,058,142   

Other fixed income funds

     —           217,731,383         —           217,731,383   

Real estate funds

     —           28,487,838         —           28,487,838   

Stable value funds

     —           101,758,071         —           101,758,071   

Other short term investment funds

     —           3,937,217         —           3,937,217   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total collective trust funds

     —           1,158,430,251         —           1,158,430,251   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common and foreign stocks

           

Consumer discretionary

     441,550,034         —           —           441,550,034   

Information technology

     1,440         —           —           1,440   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total common and foreign stocks

     441,551,474         —           —           441,551,474   
  

 

 

    

 

 

    

 

 

    

 

 

 

Registered investment companies

           

Commodity funds

     36,603,288         —           —           36,603,288   

Equity funds

     29,794,322         —           —           29,794,322   

Bond funds

     6,855,612         —           —           6,855,612   

Short term funds

     3,391,407         —           —           3,391,407   

Real estate funds

     586,905         —           —           586,905   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total registered investment companies

     77,231,534         —           —           77,231,534   

Corporate and foreign bonds

     —           34,410,762         —           34,410,762   

Interest bearing cash

     10,661         —           —           10,661   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets at fair value

   $ 518,793,669       $ 1,192,841,013       $ —         $ 1,711,634,682   
  

 

 

    

 

 

    

 

 

    

 

 

 

Level 3 Gains and Losses

The following table sets forth a summary of changes in the fair value of the Plan’s Level 3 assets for the year ended May 31, 2011:

 

     Collective  
     Trust Funds  

Balance at beginning of year

   $ 100,094,864   

Purchases, sales, issuances and settlements, net

     (100,094,864
  

 

 

 

Balance at end of year

   $ —     
  

 

 

 

The U.S. Bank Morley Stable Value Fund was sold by the Plan on June 15, 2010 and represented the remaining participant directed investments in this fund.

 

5. Party-in-Interest Transactions

The Plan’s investments represent funds invested in, or maintained by, Northern Trust and Charles Schwab. Northern Trust is the Trustee of the Plan assets and Charles Schwab is the Custodian of selected assets and, therefore, these investments represent exempt party-in-interest transactions.

 

12


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

Certain Plan investments are shares of Company common stock. For the year ended May 31, 2012 and 2011, the Plan purchased 72,027 and 487,467 shares of NIKE, Inc. Class B common stock, respectively, at a cost of $6,767,684 and $37,812,303, respectively. For the same years ended, the Plan sold 398,448 and 280,767 shares of NIKE, Inc. Class B common stock, respectively, at a cost of $33,712,596 and $20,392,865, respectively. At May 31, 2012 and 2011, the Plan held $522,643,543 (4,831,240 shares) and $441,550,034 (5,228,538 shares), respectively, of NIKE, Inc. Class B common stock.

 

6. Plan Tax Status

The Internal Revenue Service (“IRS”) has determined and informed the Company by letter dated January 16, 2008 that the Plan is designed in accordance with applicable sections of the IRC. Although the Plan has been amended since receiving the determination letter, the Plan administrator and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. The Plan has submitted the necessary filing to the IRS and is waiting for a response.

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of May 31, 2012, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions within the United States of America; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2008.

 

7. Nonparticipant-directed Investments

Information about the net assets at May 31 and the significant components of the changes in net assets for the year ended May 31 relating to the nonparticipant-directed investments is as follows:

 

     2012     2011  

Net assets

    

Collective trust funds

   $ 387,485,719      $ 395,270,739   

Employer receivable

     40,890,757        39,457,316   

Registered investment companies

     30,196,587        36,484,419   

Corporate and foreign bonds

     37,435,516        34,410,762   

Accrued interest and dividends

     768,025        807,393   

Cash

     —          36,116   

Interest bearing cash

     —          10,661   

Common and foreign stocks

     20,406        1,440   

Due from broker for securities sold

     101,557        —     

Due to broker for securities purchased

     (298,035     (509,141

Accrued expenses

     (59,681     (60,374
  

 

 

   

 

 

 

Total net assets

   $ 496,540,851      $ 505,909,331   
  

 

 

   

 

 

 

 

13


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2012 and 2011

 

 

     Year Ended  
     May 31, 2012  

Changes in net assets

  

Net depreciation in fair value of investments

   $ (32,848,056

Employer contributions

     40,890,757   

Interest and dividends

     3,059,773   

Purchases and sales, net

     (1,102

Administrative and investment expenses

     (572,303

Benefits paid to participants

     (19,897,549
  

 

 

 
   $ (9,368,480
  

 

 

 

 

8. Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at May 31, 2012 and 2011:

 

     2012     2011  

Net assets available for benefits per the financial statements

   $ 2,011,901,615      $ 1,776,243,709   

Benefits payable

     (849,252     (475,195

Loans deemed to be distributions for financial reporting purposes

     (593,778     (543,706

Adjustment from fair value to contract value for interest in collective trust relating to fully benefit-responsive investment contracts

     245,789        509,521   
  

 

 

   

 

 

 

Net assets available for benefits per Form 5500

   $ 2,010,704,374      $ 1,775,734,329   
  

 

 

   

 

 

 

The following is a reconciliation of the net increase in net assets available for benefits per the financial statements to the Form 5500 at May 31, 2012:

 

Net increase in net assets per the financial statements

   $  235,657,906   

Benefits payable at May 31, 2012

     (849,252

Benefits payable at May 31, 2011

     475,195   

Loans deemed to be distributions for financial reporting purposes at May 31, 2012

     (593,778

Loans deemed to be distributions for financial reporting purposes at May 31, 2011

     543,706   

Adjustment from fair value to contract value for interest in collective trust at May 31, 2012

     245,789   

Adjustment from fair value to contract value for interest in collective trust at May 31, 2011

     (509,521
  

 

 

 

Net increase in net assets per Form 5500

   $ 234,970,045   
  

 

 

 

 

14


Table of Contents

Supplemental Schedules


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)    (c)    (c)    (c)    (c)    (d)    (e)  
               Rate    Date of                 
     Identity of Issue, Borrower,         of    Maturity    Par         Current  
     Lessor or Similar Party    Description of Investment    Interest    Year    Month    Value    Cost (1)    Value  
  

Participant directed

                    
  

1st Eagle Funds Inc

   Registered investment company                   $ 4,851   
  

1st Eagle Funds Overseas Fund

   Registered investment company                     148,918   
  

1st Eagle Sogen Funds Global Fund

   Registered investment company                     168,948   
  

1st Eagle Sogen Funds Gold Fund

   Registered investment company                     23,853   
  

1st Eagle Sogen Funds US Value Fund

   Registered investment company                     39,037   
  

3rd Avenue Tr Intl Value Fund

   Registered investment company                     54,804   
  

3rd Avenue Tr Real Estate Value Fund

   Registered investment company                     48,465   
  

Aberdeen Emerging Markets Fund

   Registered investment company                     10,971   
  

Aberdeen Intl Equity Fund

   Registered investment company                     11,430   
  

Aberdeen Global Nat Res Fund

   Registered investment company                     12,413   
  

Advantage Funds Dreyfus Global Absolute

   Registered investment company                     3,840   
  

Advisors Inner Circle Fund Acadian Emerging Mkts Inst Fund

   Registered investment company                     35,044   
  

Advisors Inner Circle Fund Cambiar Aggressive Value

   Registered investment company                     23,771   
  

Advisors Inner Circle Fund Cambiar Opportunity

   Registered investment company                     36,693   
  

Advisors Inner Circle Fund Cambiar Small Cap

   Registered investment company                     16,346   
  

Advisors Inner Circle Fund II Inc New Champlain Small Co Fund

   Registered investment company                     13,331   
  

Aim Sector Funds Invesco Van Kampen CL Y

   Registered investment company                     6,017   
  

Aim Sector Funds Invesco Van Kampen Small Cap

   Registered investment company                     8,847   
  

Alliance Bernstein Growth & Inc Fund

   Registered investment company                     13,464   
  

Alliance Bernstein Global Bond

   Registered investment company                     16,599   
  

Alliance Bernstein Small/Mid Cap Growth

   Registered investment company                     921   
  

Allianz Funds RCM Global Small Cap CL D

   Registered investment company                     936   
  

Allianz Funds NFJ Dividend Value

   Registered investment company                     26,713   
  

Allianz Funds RCM Wellness Fund

   Registered investment company                     29,483   
  

Allianz Funds AGIC Pac Rim Fund

   Registered investment company                     12,654   
  

Alpine Equity Tr International Real Estate Equity Fund

   Registered investment company                     4,293   
  

Alpine Innovators Fund

   Registered investment company                     1,613   
  

Amana Mutual Fund Tr Growth Fund

   Registered investment company                     135,080   
  

Amana Mutual Fund Tr Income Fund

   Registered investment company                     48,626   
  

American AMCAP Fund

   Registered investment company                     18,487   
  

American Beacon Funds Large Cap Value Fund

   Registered investment company                     25,133   
  

American Beacon Funds Small Cap Value Fund

   Registered investment company                     24,132   
  

American Cap World Growth & Inc Fund

   Registered investment company                     3,359   
  

American Century 20th Century Growth Fund

   Registered investment company                     231,609   
  

American Century Cap Portfolio Inc Equity Income Fund

   Registered investment company                     292,105   
  

American Century Cap Portfolio Inc Mid Cap Value Fund

   Registered investment company                     45,938   
  

American Century Cap Portfolio Inc Real Estate Fund

   Registered investment company                     18,378   

 

15


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)   (c)   (c)   (c)   (c)   (d)   (e)  
             Rate   Date of              
     Identity of Issue, Borrower,       of   Maturity   Par       Current  
     Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
  

American Century Cap Portfolio Inc Value Fund

  Registered investment company               15,838   
  

American Century Ginnie Mae Investor Class

  Registered investment company               4,342   
  

American Century Govt Inc Tr Benham

  Registered investment company               109,770   
  

American Century Govt Inc Tr Inflation-adjusted Bd Fund

  Registered investment company               73,342   
  

American Century Intl Bond Fund

  Registered investment company               11,095   
  

American Century Mut Fund Inc Heritage Fund

  Registered investment company               62,317   
  

American Century Mutual Funds Inc Cap Value

  Registered investment company               46,585   
  

American Century Quantitative Equity Growth Fund

  Registered investment company               132,200   
  

American Century Quantitative Equity Utils Fund

  Registered investment company               47,894   
  

American Century Ultra

  Registered investment company               23,998   
  

American Century World Mutual Fund Inc 20th Centy Intl Discovery Fund

  Registered investment company               18,786   
  

American Century World Mutual Fund Inc 20th Centy Intl Growth Fund

  Registered investment company               77,122   
  

Appleseed Fund

  Registered investment company               18,370   
  

Arbitrage Fund Cl R

  Registered investment company               4,024   
  

Arbitrage Funds Event Driven Cl R

  Registered investment company               6,149   
  

Ariel Fund

  Registered investment company               18,151   
  

Ariel Growth Appreciation Fund

  Registered investment company               12,784   
  

Artio Global Invt Funds International Equity Fund

  Registered investment company               24,172   
  

Artio Global Invt Funds International Equity Fund II

  Registered investment company               37,393   
  

Artisan Funds Global Value

  Registered investment company               1,083   
  

Artisan Funds Inc International Value Fund

  Registered investment company               8,551   
  

Artisan Funds Inc International Fund

  Registered investment company               181,216   
  

Artisan Funds Inc International Small Cap Fund

  Registered investment company               10,379   
  

Artisan Funds Mid Cap Fund

  Registered investment company               191,987   
  

Artisan Funds Mid Cap Value Fund

  Registered investment company               29,462   
  

Aquila Three Peaks High Income Fund

  Registered investment company               17,888   
  

Aston Funds for future issues—Fairpointe Mid Cap Fund

  Registered investment company               32,133   
  

Aston Funds for future issues—Montag Caldwell Growth Fund

  Registered investment company               7,258   
  

Aston Funds for future issues—Veredus Aggressive Growth Fund

  Registered investment company               19,658   
  

Baird Funds Core Plus Bond Fund

  Registered investment company               60,008   
  

Baron Ast Fund Growth Fund

  Registered investment company               276,092   
  

Baron Ast Fund Small Cap Fund

  Registered investment company               108,942   
  

Baron Invt Funds Tr Opportunity Fund

  Registered investment company               2,394   
  

Baron Partners Fund

  Registered investment company               102,212   
  

Blackrock Equity Dividend Fund

  Registered investment company               20,713   
  

Blackrock Funds Intl Opportunities Portfolio

  Registered investment company               46,619   
  

Blackrock Funds Intl Bond Portfolio

  Registered investment company               11,084   
  

Blackrock Global Allocation Fund

  Registered investment company               22,002   

 

16


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)    (c)    (c)    (c)    (c)    (d)    (e)  
               Rate    Date of                 
     Identity of Issue, Borrower,         of    Maturity         Par         Current  
     Lessor or Similar Party    Description of Investment    Interest    Year    Month    Value    Cost (1)    Value  
  

Blackrock Global Emerging Markets-A

   Registered investment company                     27,384   
  

Blackrock Nat Res Tr CL A

   Registered investment company                     3,742   
  

Blair William Mutual Funds Small Cap Growth Fund

   Registered investment company                     43,471   
  

Blair William Mutual Funds Small Mid-Cap Growth Fund

   Registered investment company                     13,929   
  

Bny Mellon Funds Tr Small Cap Stk Fund

   Registered investment company                     1,133   
  

Bridgeway Funds Merger

   Registered investment company                     8,243   
  

Brown Cap Mgmt Small Co Fund

   Registered investment company                     8,404   
  

Buffalo Hi Yield Fund

   Registered investment company                     7,333   
  

Buffalo Funds Discovery

   Registered investment company                     20,974   
  

Buffalo Funds Mid Cap Fund

   Registered investment company                     15,464   
  

Buffalo Small Cap Fund

   Registered investment company                     35,656   
  

Burnham Tr Fund Cl A

   Registered investment company                     3,296   
  

Calamos Invt Tr New Growth Fund

   Registered investment company                     12,124   
  

Calamos Invt Tr New Intl Growth Fund

   Registered investment company                     14,598   
  

CGM Focus Fund

   Registered investment company                     167,171   
  

CGM Tr Realty Fund

   Registered investment company                     100,997   
  

Cohen & Steers Intl Rlty Shs Fund

   Registered investment company                     10,819   
  

Cohen & Steers Rlty Focus Fund Cl A

   Registered investment company                     13,092   
  

Cohen & Steers Rlty Shs Inc Com Fund

   Registered investment company                     282,111   
  

Columbia Acorn Tr Fund

   Registered investment company                     10,028   
  

Columbia Funds Ser Tr Emerging Markets

   Registered investment company                     18,656   
  

Columbia Funds Ser Tr Energy & Nat Res

   Registered investment company                     52,611   
  

Columbia Funds Ser Tr Strategic Investor

   Registered investment company                     19,108   
  

Columbia Funds Ser Tr Value & Restructuring CL A

   Registered investment company                     64,530   
  

Columbia Funds Ser Tr Value & Restructuring CL Z

   Registered investment company                     180,705   
  

Columbia Funds Ser Tr Marsico 21st Century Fund

   Registered investment company                     53,549   
  

Columbia Funds Ser Tr Mid Cap Value

   Registered investment company                     6,075   
  

Conestoga Funds Small Cap Fund

   Registered investment company                     26,572   
  

CRM Mid Cap Value Fund

   Registered investment company                     21,794   
  

CRM Small/Mid Cap Value Fund

   Registered investment company                     12,322   
  

Croft Value Fund Cl R

   Registered investment company                     67,586   
  

Davis NY Venture Fund

   Registered investment company                     80,581   
  

Delaware Pooled Tr Diversified Income Fund

   Registered investment company                     10,833   
  

DFA Invt Dimensions Group US Micro Cap Fund

   Registered investment company                     10,276   
  

Diamond Hill Small Cap Fund

   Registered investment company                     20,850   
  

Direxion Funds Latin America Bull

   Registered investment company                     2,250   
  

Direxion Funds Commodity Bull 2x

   Registered investment company                     886   
  

Direxion Funds 10 Year Note Bull 2.5x Fund

   Registered investment company                     1,185   

 

17


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)    (c)    (c)    (c)    (c)    (d)    (e)  
               Rate    Date of                 
     Identity of Issue, Borrower,         of    Maturity    Par         Current  
     Lessor or Similar Party    Description of Investment    Interest    Year    Month    Value    Cost (1)    Value  
  

Dodge & Cox Balanced Fund

   Registered investment company                     195,412   
  

Dodge & Cox Inc Fund

   Registered investment company                     127,160   
  

Dodge & Cox International Stock Fund

   Registered investment company                     154,597   
  

Dodge & Cox Stock Fund

   Registered investment company                     70,068   
  

Domini Social Index Fund

   Registered investment company                     5,456   
  

Doubleline Total Return Bond—I

   Registered investment company                     11,369   
  

Dreman Contrarian Fund Small Cap Value

   Registered investment company                     26,314   
  

Dreyfus Appreciation Fund

   Registered investment company                     62,685   
  

Dreyfus Emerging Markets Fund CL A

   Registered investment company                     7,145   
  

Dreyfus Emerging Markets Growth Fund

   Registered investment company                     50,599   
  

Dreyfus Fund Inc

   Registered investment company                     12,474   
  

Dreyfus Index Funds Small Cap Stock Fund

   Registered investment company                     92,816   
  

Dreyfus Invt Grade Funds

   Registered investment company                     5,211   
  

Dreyfus Midcap Index Fund

   Registered investment company                     15,719   
  

Dreyfus Midcap Growth Fund

   Registered investment company                     14,429   
  

Dreyfus Opportunistic Mid Cap Value

   Registered investment company                     25,829   
  

Driehaus Mutual Fund International Discovery Fund

   Registered investment company                     15,917   
  

DWS Equity Tr Alternative Asset Allocation Plus Fund

   Registered investment company                     59,185   
  

DWS Mut Funds Gold & Precious Metals

   Registered investment company                     78,829   
  

Eagle Small Cap Growth Fund

   Registered investment company                     17,890   
  

Eaton Vance Inc Fund Bstn Inc

   Registered investment company                     145,302   
  

Eaton Vance Mutual Funds Tr Fltg rate Fund

   Registered investment company                     48,799   
  

Eaton Vance Mutual Funds Tr Strategic Inc Fund

   Registered investment company                     85,543   
  

Eaton Vance Parametric Structured Emerging Markets

   Registered investment company                     17,977   
  

Eaton Vance Parametric Tax-managed Emerging Markets

   Registered investment company                     41,285   
  

Eaton Vance Spl Invt Tr Greater India Fund

   Registered investment company                     8,753   
  

Europac Growth Fund CL F-1

   Registered investment company                     15,419   
  

Europac Growth Fund CL R-4

   Registered investment company                     65,112   
  

Europac Growth Fund CL R-5

   Registered investment company                     70,544   
  

Fairholme Income Fund

   Registered investment company                     310,113   
  

FBR Funds Small Cap Finl Fund

   Registered investment company                     4,928   
  

FBR Focus Fund

   Registered investment company                     31,063   
  

Federated Emerging Market Debt Fund

   Registered investment company                     31,023   
  

Federated Income Secs Tr Short-term Income Fund

   Registered investment company                     11,627   
  

Federated Prudent Bear Fund

   Registered investment company                     14,657   
  

Federated Total Return Sers Inc Bond Fund

   Registered investment company                     148,408   
  

Fedt Equity Funds Cap Appreciation Fund

   Registered investment company                     25,031   
  

Fidelity Advisor Ser II Fltg Rate High Inc Fund

   Registered investment company                     286,733   

 

18


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

Fidelity Advisor Ser VIII Emerging Asia Fund

  Registered investment company               21,468   
 

Fidelity Cap & Income Fund

  Registered investment company               78,427   
 

Fidelity China Region Fund

  Registered investment company               20,542   
 

Fidelity Commonwealth Tr Small Cap Fund

  Registered investment company               24,726   
 

Fidelity Concord Str Tr Spartan Intl Index Fund

  Registered investment company               3,663   
 

Fidelity Concord Str Tr Spartan Short term Treas Bd Index

  Registered investment company               308,105   
 

Fidelity Finl Tr Conv Sec Fund

  Registered investment company               2,880   
 

Fidelity Diversified Intl Fund

  Registered investment company               7,423   
 

Fidelity Invt Tr Canada Fund

  Registered investment company               52,371   
 

Fidelity Contra Fund

  Registered investment company               115,266   
 

Fidelity Equity Income Real Estate Invt Portfolio

  Registered investment company               27,739   
 

Fidelity DVD Growth Fund

  Registered investment company               31,322   
 

Fidelity Hastings Str Tr Growth Fund

  Registered investment company               34,785   
 

Fidelity Invt Tr Emerging Markets Fund

  Registered investment company               4,659   
 

Fidelity Invt Tr New Markets Income Fund

  Registered investment company               92,901   
 

Fidelity Invt Tr Worldwide Fund

  Registered investment company               18,570   
 

Fidelity Low priced stock Fund

  Registered investment company               37,931   
 

Fidelity New Latin America Fund

  Registered investment company               36,840   
 

Fidelity OTC Portfolio Open End Fund

  Registered investment company               25,238   
 

Fidelity Salem Street Trust Spartan High Income

  Registered investment company               42,571   
 

Fidelity Secs Fund Intl Real Estate

  Registered investment company               16,201   
 

Fidelity Small Cap Discovery

  Registered investment company               22,071   
 

Fidelity Small Cap Stock Fund

  Registered investment company               23,316   
 

Fidelity Value Fund

  Registered investment company               90,456   
 

Firsthand Funds Technology Opportunities Fund

  Registered investment company               5,292   
 

Firsthand Funds Technology Value Fund

  Registered investment company               19,474   
 

Fleming Cap Mut Fund Group JP Morgan MidCap Value Fund

  Registered investment company               8,260   
 

FMI Common Stk Fund

  Registered investment company               13,008   
 

FMI Funds Inc

  Registered investment company               213,431   
 

FMI Funds Inc Focus Fund

  Registered investment company               5,543   
 

Forum Funds Auxier Focus Fund

  Registered investment company               39,372   
 

Forum Funds Merk Hard Currency

  Registered investment company               79,333   
 

Forward Funds Strategic Alternative

  Registered investment company               9,664   
 

FPA Funds Tr FPA Crescent Portfolio

  Registered investment company               31,679   
 

FPA New Income Inc Com

  Registered investment company               2,661   
 

Franklin Value Invs Tr Small Cap Value Fund

  Registered investment company               153,290   
 

Franklin Growth Fund

  Registered investment company               4,315   
 

Gabelli Ast Fund Sh Ben Int Fund

  Registered investment company               48,228   
 

Gabelli Equity Inc Fund

  Registered investment company               124,191   

 

19


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

Gabelli Gold Fund

  Registered investment company               33,662   
 

Gabelli Small Cap Growth Fund

  Registered investment company               67,308   
 

Gamco Global Ser Funds

  Registered investment company               6,503   
 

Gamco Westwood Funds Mighty Mites Fund

  Registered investment company               44,574   
 

Goldman Sachs Tr Mid Cap Equity Fund Class A

  Registered investment company               33,530   
 

Goldman Sachs Tr Mid Cap Equity Fund Instl Shs

  Registered investment company               11,146   
 

Goldman Sachs Tr Emerging Markets Equity Fund

  Registered investment company               13,534   
 

Greenspring Fund

  Registered investment company               11,256   
 

Growth Fund America Inc CL F-1

  Registered investment company               21,536   
 

Growth Fund America Inc CL R-4

  Registered investment company               64,544   
 

Growth Fund America Inc CL R-5

  Registered investment company               75,443   
 

Guinness Atkinson Funds China & Hong Kong

  Registered investment company               33,621   
 

Guinness Atkinson Funds Alternative Energy

  Registered investment company               8,149   
 

Guinness Atkinson Funds Global Energy

  Registered investment company               4,953   
 

Hanna Invt Tr Paladin Long Short Fund

  Registered investment company               19,699   
 

Harbor Fund Intl Fund

  Registered investment company               121,629   
 

Harbor Fund Bd Fund

  Registered investment company               33,153   
 

Harbor Fund Cap Appreciation Fund

  Registered investment company               33,414   
 

Harding Loevner Fds Inc Emerging Markets Growth Fund

  Registered investment company               28,404   
 

Harris Assoc Invt Tr Oakmark Intl Small Cap Fund

  Registered investment company               12,116   
 

Hartford Mut Funds Growth Opportunities

  Registered investment company               44,588   
 

Hartford Mutual Fund Inc for future issues Mid Cap

  Registered investment company               30,252   
 

Heartland Group Inc Select Value Fund

  Registered investment company               29,131   
 

Heartland Group Inc Value Plus Fund

  Registered investment company               72,808   
 

Henderson Global Intl Opportunities Fund

  Registered investment company               14,993   
 

Hennessy Mutual Funds Inc Focus Fund

  Registered investment company               45,096   
 

Hotchkis & Wiley Small Cap Value Fund

  Registered investment company               18,706   
 

Hussman Strategic Growth Fund

  Registered investment company               119,803   
 

Hussman Strategic Total Return Fund

  Registered investment company               21,053   
 

Icon Funds Intl Equity Fund

  Registered investment company               3,701   
 

Icon Funds Energy Fund

  Registered investment company               144,508   
 

Icon Funds Finl Fund

  Registered investment company               6,545   
 

Icon Funds Industrials Fund

  Registered investment company               3,457   
 

Icon Funds Information Tech Fund

  Registered investment company               24,404   
 

Icon Funds Materials Fund

  Registered investment company               1,132   
 

Ing Mutual Funds for future issues: Global Nat Resources

  Registered investment company               3,047   
 

Ing Mutual Funds Global Bond Fund

  Registered investment company               3,559   
 

International Fund

  Registered investment company               401,647   

 

20


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

Intrepid Cap Mgmt Funds Small Cap

  Registered investment company               9,778   
 

Invesco Charter Fund

  Registered investment company               42,886   
 

Invesco Leisure Fund

  Registered investment company               7,475   
 

Invesco Technology Fund

  Registered investment company               2,426   
 

Invesco Van Kampen Small Cap Growth Fund

  Registered investment company               3,337   
 

Ivy Fund Global Nat Res Fund

  Registered investment company               101,358   
 

Ivy Funds Inc Asset Strategy Fund CL A

  Registered investment company               134,489   
 

Ivy Funds Inc Asset Strategy Fund CL Y

  Registered investment company               107,380   
 

Ivy Funds Inc Science & Tech Fund CL Y

  Registered investment company               27,274   
 

Ivy Funds Inc Small Cap Growth CL Y

  Registered investment company               9,341   
 

James Advantage Funds Balanced Golden Rainbow Fund

  Registered investment company               3,724   
 

James Advantage Funds Small Cap Growth

  Registered investment company               14,845   
 

Janus Contrarian Fund

  Registered investment company               66,854   
 

Janus Growth & Income Fund

  Registered investment company               91,765   
 

Janus Invt Fund Balanced Fund

  Registered investment company               174,030   
 

Janus Invt Fund Enterprise Fund

  Registered investment company               84,069   
 

Janus Invt Fund Flexible Bond

  Registered investment company               22,067   
 

Janus Invt Fund Global Research Fund

  Registered investment company               9,600   
 

Janus Invt Fund Global Select Fund

  Registered investment company               76,230   
 

Janus Invt Fund Global Tech Fund

  Registered investment company               21,923   
 

Janus Invt Fund High-yield Fund

  Registered investment company               33,965   
 

Janus Invt Fund Intech US Core

  Registered investment company               36,545   
 

Janus Invt Fund Overseas Fund

  Registered investment company               156,388   
 

Janus Invt Fund Triton Fund

  Registered investment company               105,521   
 

Janus Research Fund

  Registered investment company               242,487   
 

Janus Invt Fund Short term Bond Fund

  Registered investment company               4,356   
 

Janus Venture Fund

  Registered investment company               5,420   
 

Jensen Portfolio Inc Fund CL J

  Registered investment company               430,219   
 

John Hancock Disciplined Value Fund

  Registered investment company               111,174   
 

John Hancock funds II US Equity

  Registered investment company               10,253   
 

John Hancock Strategic Ser Inc Fund

  Registered investment company               14,417   
 

JP Morgan Tr US Equity Fund

  Registered investment company               39,195   
 

JP Morgan Tr II Small Cap Value Fund

  Registered investment company               4,368   
 

Kalmar Pooled Invt Tr Small Cap

  Registered investment company               40,814   
 

Keeley Small Cap Value Fund

  Registered investment company               82,155   
 

Kinetics New Paradigm Fund

  Registered investment company               8,225   
 

Large Cap Value

  Registered investment company               63,950   
 

Laudus Tr Growth Large Cap Growth Fund

  Registered investment company               99,233   

 

21


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)     (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,         Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment     Interest   Year   Month   Value   Cost (1)   Value  
 

Laudus Tr Mondrian Intl Fixed Income

    Registered investment company                  8,813   
 

Lazard Funds Inc Emerging Markets Fund

    Registered investment company                  124,876   
 

Lazard Funds Inc Intl Small Cap Fund

    Registered investment company                  2,068   
 

Loomis Sayles Bond Fund

    Registered investment company                  379,780   
 

Loomis Sayles Funds II CL A

    Registered investment company                  9,946   
 

Loomis Sayles Funds II CL Y

    Registered investment company                  56,448   
 

Loomis Sayles Invt Trust Fund

    Registered investment company                  9,874   
 

Loomis Sayles Invt Tr Small Cap Value Fund

    Registered investment company                  32,350   
 

Loomis Sayles Invt Tr Global Bond Fund

    Registered investment company                  7,788   
 

Mainstay ICAP International

    Registered investment company                  25,561   
 

Mainstay ICAP Select Equity

    Registered investment company                  20,624   
 

Mairs and Power Growth Fund

    Registered investment company                  22,676   
 

Managers Fund Inter Duration Govt Fund

    Registered investment company                  10,959   
 

Managers Funds Pimco Bond Fund

    Registered investment company                  38,290   
 

Manning & Napier Fund Inc New Equity Ser Fund

    Registered investment company                  7,580   
 

Manning & Napier Fund New World Opportunities

    Registered investment company                  152,906   
 

Manning & Napier Fund Inc New Pro Blend Conservative

    Registered investment company                  20,073   
 

Marisco Invt Fund Flexible Cap Fund

    Registered investment company                  29,746   
 

Marisco Invt Fund Focus Fund

    Registered investment company                  188,701   
 

Marsico Invt Growth Fund

    Registered investment company                  11,018   
 

Marsico Invt Fund 21st Century Fund

    Registered investment company                  221,537   
 

Matthew 25 Fund

    Registered investment company                  10,366   
 

Matthews Asian Funds Asia Small Cos

    Registered investment company                  2,454   
 

Matthews Asian Funds Asia Dividend

    Registered investment company                  27,584   
 

Matthews Intl Funds Asian Sci & Technology

    Registered investment company                  5,346   
 

Matthews Intl Funds Asia Growth

    Registered investment company                  2,611   
 

Matthews Intl Funds Asia Growth & Income

    Registered investment company                  202,920   
 

Matthews International Funds China Fund

    Registered investment company                  120,029   
 

Matthews International Funds Pac Tiger Fund

    Registered investment company                  70,426   
 

Matthews International Funds India Fund

    Registered investment company                  12,755   
 

Merger Sh Ben Int

    Registered investment company                  10,004   
 

Meridian Fund Inc Com Open End Fund

    Registered investment company                  225,362   
 

Meridian Fund Inc Value Fund

    Registered investment company                  69,928   
 

Metropolitan West Funds Total Return Bond Fund

    Registered investment company                  191,022   
 

MFS Emerging Markets Debt Fund CL 1

    Registered investment company                  15,318   
 

MFS New Discovery

    Registered investment company                  10,971   
 

MFS Ser Tr Emerging Markets Debt Fund

    Registered investment company                  186,087   

 

22


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

MFS Utils Fund

  Registered investment company               14,579   
 

MFS Value Fund

  Registered investment company               20,023   
 

Monetta Tr Young Investor Fund

  Registered investment company               15,338   
 

Morgan Stanley Institutional Mid Cap Growth

  Registered investment company               89,249   
 

Motley Fool Independence Fund

  Registered investment company               20,512   
 

Motley Fool Tr Great America Fund

  Registered investment company               20,060   
 

Mutual Global Discovery Fund

  Registered investment company               116,758   
 

Mutuals Com Vice Fund

  Registered investment company               994   
 

Needham Funds Income Growth Fund

  Registered investment company               78,049   
 

Needham Funds Small Cap Growth Fund

  Registered investment company               2,151   
 

Neuberger & Berman Equity Funds Genesis Fund

  Registered investment company               27,771   
 

Neuberger & Berman Partners Equity Assets

  Registered investment company               62,034   
 

Neuberger Berman Equity Funds Real Estate Fund

  Registered investment company               15,475   
 

Neuberger Berman Equity Funds Small Cap Growth Fund

  Registered investment company               174,153   
 

Neuberger Berman Large Cap Value

  Registered investment company               38   
 

Northern Funds Global Fixed Income Fund

  Registered investment company               1,678   
 

Northern Funds Small Cap Value Fund

  Registered investment company               61,870   
 

Northern Lts Tr Sierra Core Retirement

  Registered investment company               110,295   
 

Northern Lts Tr Southern Sun Small Cap

  Registered investment company               2,483   
 

Northern Multi-manager Mid Cap Fund

  Registered investment company               13,545   
 

Nuveen Invt Funds Real Estate

  Registered investment company               37,961   
 

Nuveen Invt Funds Inc Small Cap

  Registered investment company               5,062   
 

Nuveen Invt Tr V PFD Fund Cl A

  Registered investment company               19,762   
 

Nuveen Invt Tr II Tradewinds Global Res Fund

  Registered investment company               5,218   
 

Oakmark Equity & Inc Fund

  Registered investment company               576,870   
 

Oakmark Fund

  Registered investment company               123,721   
 

Oakmark Global Fund

  Registered investment company               56,280   
 

Oakmark International Fund Open End Fund

  Registered investment company               317,726   
 

Oakmark Select Fund

  Registered investment company               152,149   
 

Oberweis Funds China Oppty Fund

  Registered investment company               1,856   
 

Oppenheimer Developing Markets CL A

  Registered investment company               152,994   
 

Oppenheimer Developing Markets CL Y

  Registered investment company               19,002   
 

Oppenheimer Global Growth & Income

  Registered investment company               4,822   
 

Oppenheimer Gold & Spl Minerals

  Registered investment company               25,666   
 

Oppenheimer Quest for Value Fund

  Registered investment company               133,201   
 

Paradigm Funds Value

  Registered investment company               9,263   
 

Parnassus Fund

  Registered investment company               10,057   
 

Parnassus Fund Small Cap

  Registered investment company               45,485   

 

23


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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

Parnassus Inc Tr Eqty Inc Fund

  Registered investment company               186,916   
 

Payden & Rygel Invt Group Metzler/Payden Eur

  Registered investment company               5,427   
 

Payden & Rygel Invt Group Emerging Mkts Bond Fund

  Registered investment company               10,690   
 

Payden & Rygel Invt Group Emerging Mkts Bond Fund Advisor Cl

  Registered investment company               20,154   
 

Payden & Rygel Invt Group GNMA Fund

  Registered investment company               5,174   
 

Perkins Mid Cap Value

  Registered investment company               224,229   
 

Perkins S/C Value Fund

  Registered investment company               11,376   
 

Perm Portfolio Fund

  Registered investment company               281,444   
 

Perritt Micro Cap Opportunities Fund

  Registered investment company               10,836   
 

Pimco Funds Developing Loc Mkt Fund

  Registered investment company               4,929   
 

Pimco Equity Ser Pathfinder Fund

  Registered investment company               97   
 

Pimco Funds Emerging Local Bond Fund

  Registered investment company               57,323   
 

Pimco Funds Global Multi-Ast Fund

  Registered investment company               254,077   
 

Pimco Funds Global Multi-Asset Instl Cl

  Registered investment company               173,296   
 

Pimco Funds Pac Invt Mgmt Ser Commodity Real Ret Fund

  Registered investment company               85,245   
 

Pimco Funds Pac Invt Mgmt Ser Emerging Markets Bond Fund

  Registered investment company               77,553   
 

Pimco Funds Pac Invt Mgmt Ser For Future Issues

  Registered investment company               18,226   
 

Pimco Funds Pac Invt Mgmt Ser For Future Issues All Auth CL D

  Registered investment company               215,447   
 

Pimco Funds Pac Invt Mgmt Ser For Future Issues All Ast CL D

  Registered investment company               19,145   
 

Pimco Funds Pac Invt Mgmt Ser Future Diversified Fund

  Registered investment company               19,004   
 

Pimco Funds Pac Invt Mgmt Ser Foreign Bond Fund

  Registered investment company               34,061   
 

Pimco Funds Pac Invt Mgmt Ser Hi Yield Fund

  Registered investment company               60,634   
 

Pimco Funds Pac Invt Mgmt Ser Invt Grade Bond Fund

  Registered investment company               105,649   
 

Pimco Funds Pac Invt Mgmt Ser Low Duration Fund

  Registered investment company               129,792   
 

Pimco Funds Pac Invt Mgmt Ser Total Return Fund

  Registered investment company               1,052,799   
 

Pimco Fundamental Index

  Registered investment company               20,094   
 

Pimco Income Fund

  Registered investment company               22,829   
 

Pimco Real Return Bond Fund

  Registered investment company               121,879   
 

Pimco Unconstrained Bond Fund

  Registered investment company               71,049   
 

Pioneer Global Hi Yield Fund

  Registered investment company               40,778   
 

Pioneer Hi Yield Fund

  Registered investment company               34,336   
 

Price T Rowe Growth Stk Fund

  Registered investment company               25,017   
 

Price T Rowe Global Technology Fund

  Registered investment company               133,322   
 

Price T Rowe Hi Yield Fund

  Registered investment company               39,700   
 

Price T Rowe Health Science Fund

  Registered investment company               28,727   
 

Price T Rowe Retirement Fund 2030FD

  Registered investment company               23,136   
 

Price T Rowe Retirement Fund 2035FD

  Registered investment company               962   
 

Primecap Odyssey Funds Aggressive Growth Fund

  Registered investment company               15,015   

 

24


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
 

Primecap Odyssey Funds Growth Fund

  Registered investment company               51,923   
 

Principal Funds Inc Equity Income Fund

  Registered investment company               8,378   
 

Professionally Managed Fund Asterick Xupgrader Fund

  Registered investment company               4,076   
 

Professionally Managed Portfolios Akre Focus Fund

  Registered investment company               63,138   
 

Professionally Managed Portfolios Brown Advisory Growth

  Registered investment company               16,228   
 

Professionally Managed Portfolios Hodges Sm Cap

  Registered investment company               924   
 

Professionally Managed Portfolios Osterweis Strategic Inc

  Registered investment company               5,245   
 

Professionally Managed Portfolios Villerre Balanced Fund

  Registered investment company               21,421   
 

Profunds Consumer Svcs Ultrasector

  Registered investment company               1,025   
 

Profunds Internet Ultrasector

  Registered investment company               2,339   
 

Profunds Ultra Emerging Mkts Fund

  Registered investment company               1,211   
 

Profunds Ultra Short Emerging Mkts Fund

  Registered investment company               4,984   
 

Profunds Ultra Short Japan

  Registered investment company               5,063   
 

Profunds Ultra Short Intl

  Registered investment company               20,268   
 

Profunds Ultrabear

  Registered investment company               25,214   
 

Profunds Oil & Gas Ultrasector Fund

  Registered investment company               60,567   
 

Profunds Pharmaceuticals Ultrasector

  Registered investment company               3,844   
 

Profunds Utils Ultrasector

  Registered investment company               426   
 

Prudential Jennison Natural Resources CL A

  Registered investment company               30,390   
 

Prudential Jennison Natural Resources CL Z

  Registered investment company               41,080   
 

Putnam Funds Tr Absolute Return 300 CL Y

  Registered investment company               71,618   
 

Putnam Funds Tr Absolute Return 300 CL A

  Registered investment company               91,810   
 

Quaker Invt Tr Strategic Growth Fund

  Registered investment company               21,025   
 

Rainier Funds Mid Cap Equity

  Registered investment company               1,087   
 

Real Estate Income Fund

  Registered investment company               10,574   
 

Reynolds Funds Blue Chip Growth

  Registered investment company               14,978   
 

Ridgeworth Funds High Income

  Registered investment company               40,805   
 

Ridgeworth Funds Intermediate Bond Fund

  Registered investment company               14,790   
 

Ridgeworth Funds Large Cap Core Equity

  Registered investment company               9,102   
 

Ridgeworth Funds Mid-Cap Value Equity

  Registered investment company               16,780   
 

Ridgeworth Funds Seix Fltg Rate Inc

  Registered investment company               16,088   
 

Rim Small/Mid Equity Portfolio Fund

  Registered investment company               15,358   
 

Riv Rd Divid All Cap Value

  Registered investment company               27,272   
 

Rowe Price New Era Fund Inc

  Registered investment company               74,878   
 

Rowe T Price Equity Income Fund

  Registered investment company               344,355   
 

Rowe T Price Index Tr Income Equity 500 Index Fund

  Registered investment company               7,736   
 

Rowe T Price Int Latin America Fund

  Registered investment company               97,542   
 

Rowe T Price Intl Funds Inc Africa and the Middle East Fund

  Registered investment company               6,616   

 

25


Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  
  Rowe T Price Intl Funds Emerging Markets Stock Fund   Registered investment company               79,650   
  Rowe T Price Intl Funds Intl Fund Open End Fund   Registered investment company               1,695   
  Rowe T Price Intl Funds New Asia   Registered investment company               32,184   
  Rowe T Price Mid-Cap Growth Fund   Registered investment company               20,920   
  Rowe T Price Pers Strategy Funds   Registered investment company               931   
  Rowe T Price Real Estate Fund   Registered investment company               14,098   
  Rowe T Price Small Cap Fund   Registered investment company               10,632   
  Rowe T Price Spectrum Fund Inc Intl Fund   Registered investment company               188,732   
  Rowe T Price Spectrum Fund Inc Open End Fund   Registered investment company               571,628   
  Royce Fund Dividend Value   Registered investment company               27,632   
  Royce Fund Global Value   Registered investment company               9,830   
  Royce Fund Heritage Fund   Registered investment company               85,605   
  Royce Fund Low Priced Stock Fund   Registered investment company               47,542   
  Royce Fund Micro-Cap Fund   Registered investment company               11,157   
  Royce Fund Opportunity Fund   Registered investment company               697   
  Royce Fund Pa Mut Fund   Registered investment company               41,750   
  Royce Fund Premier Fund Invt CL   Registered investment company               140,260   
  Royce Fund Premier Fund Svs CL   Registered investment company               10,448   
  Royce Fund Spl Equity Fund   Registered investment company               25,912   
  Royce Fund Total Return Fund   Registered investment company               73,744   
  Royce Fund Total Return Fund Svc CL   Registered investment company               4,808   
  Royce Fund Value Fund   Registered investment company               6,755   
  Royce Fund Value Plus Fund   Registered investment company               41,691   
  RS Invt Tr Fltg Rate Fund CL A   Registered investment company               36,074   
  RS Invt Tr Global Nat Res Fund   Registered investment company               91,296   
  RS Invt Tr Partners Fund   Registered investment company               4,178   
  RS Invt Tr Technolodgy Fund   Registered investment company               22,777   
  Rydex Service Funds Biotechnology Fund   Registered investment company               8,813   
  Rydex Service Funds Consumer Products   Registered investment company               2,781   
  Rydex Service Funds Inverse Govt Long Bond Strategy Fund   Registered investment company               5,916   
  Rydex Service Funds Nasdaq 100 Fund   Registered investment company               34,355   
  Rydex Service Tr URSA Fund   Registered investment company               361,585   
  Rydex/SGI Service Funds Managed Futures Strategy   Registered investment company               29,772   
  Sands Cap Select Growth Fund CL Z   Registered investment company               10,809   
  Saturna Invt Tr Sextant Intl Fund   Registered investment company               21,241   
  Schroder Intern Multi-cap Value fund   Registered investment company               2,176   
  Schroder Ser Tr   Registered investment company               7,917   
*   Schwab Cap Tr Asset Director Hi Growth Fund   Registered investment company               12,245   

 

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Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

 

(a)   (b)   (c)   (c)   (c)   (c)   (d)   (e)  
    Identity of Issue, Borrower,       Rate of   Date of
Maturity
  Par       Current  
    Lessor or Similar Party   Description of Investment   Interest   Year   Month   Value   Cost (1)   Value  

*

  Schwab Cap Tr Ast Director-Aggressive Growth Fund   Registered investment company               2,759   

*

  Schwab Cap Tr Core Equity Fund   Registered investment company               35,787   

*

  Schwab Cap Tr Dividend Equity Fund   Registered investment company               16,436   

*

  Schwab Cap Tr Financial Services Fund   Registered investment company               3,590   

*

  Schwab Cap Tr Fundamental Intl Small-Mid Cap   Registered investment company               12,723   

*

  Schwab Cap Tr Health Care Fund   Registered investment company               24,956   

*

  Schwab Cap Tr Intl Index Fund   Registered investment company               52,936   

*

  Schwab Cap Tr Large Cap Growth Fund   Registered investment company               5,102   

*

  Schwab Cap Tr Laudus Intl Market Masters Fund   Registered investment company               104,352   

*

  Schwab Cap Tr S&P 500 Index Fund   Registered investment company               493,078   

*

  Schwab Cap Tr Target 2030 Fund   Registered investment company               14,977   

*

  Schwab Cap Tr Target 2040 Fund   Registered investment company               32,867   

*

  Schwab Charles Family Funds Inv Money Fund   Registered investment company               9,039   

*

  Schwab Family Fund Money Market Fund   Registered investment company               4,463,311   

*

  Schwab Govt Sec Fund   Registered investment company               92,548   

*

  Schwab Invts Global Real Estate Fund   Registered investment company               34,369   

*

  Schwab Invts Schwab GNMA Fund   Registered investment company               10,317   

*

  Schwab Invts 1000 Index Fund   Registered investment company               36,348   

*

  Schwab Small Cap Index Select   Registered investment company               36,109   

*

  Schwab Invts Treas Inflation Protection Secs Fund   Registered investment company               1,664   

*

  Schwab Total Bond Mkt Index Fund   Registered investment company               7,669   

*

  Schwab Total Stock Market Index Fund   Registered investment company               324,690   
  Scout Funds Core Plus Bond Fund   Registered investment company               11,181   
  Scout Funds Mid Cap Fund   Registered investment company               169,489   
  Scwartz Intv Tr Ave Maria Rising Dividend Fund   Registered investment company               20,659   
  Selected Amer Sh Inc Cap Stk Fund   Registered investment company               195,872   
  Sequoia Fund Inc Com Stk Open End Fund   Registered investment company               34,378   
  Short Nasdaq 100 Inv   Registered investment company               48,403   
  SIT Mutual Funds Inc Small Cap Growth Fund   Registered investment company               37,871   
  SIT New Beginning US Govt Secs Fund   Registered investment company               163,675   
  Small Capitalization Inv Fund   Registered investment company               59,260   
  Sound Shore Fund Inc   Registered investment company               8,504   
  SSGA Emerging Mkt Fund   Registered investment company               12,204   
  SSGA International Stock Selection Fund   Registered investment company               42,371   
  Steelpath MLP Funds Tr Select 40   Registered investment company               5,569   
  Stratton Funds Inc Small Cap Value Fund   Registered investment company               6,841   
  T Rowe Price Cap Appreciation Fund   Registered investment company               193,485   
  T Rowe Price Finl Svcs Fund   Registered investment company               3,302   

 

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Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)    (c)    (c)    (c)    (c)    (d)    (e)  
               Rate    Date of                 
     Identity of Issue, Borrower,         of    Maturity    Par         Current  
     Lessor or Similar Party    Description of Investment    Interest    Year    Month    Value    Cost (1)    Value  
   TCW Funds Inc Emerging Markets Inc Fund    Registered investment company                     9,707   
  

TCW Funds Inc Formerly TCW Galileo Emerging Markets

   Registered investment company                     36,051   
  

TCW Galileo Funds Inc Dividend Focused Fund

   Registered investment company                     12,686   
  

TCW Galileo Funds Inc Select Equities Fund

   Registered investment company                     43,650   
  

TCW Galileo Funds Inc Small Cap Growth Fund

   Registered investment company                     4,995   
  

TCW Galileo Funds Inc Total Return Bond Fund

   Registered investment company                     108,733   
  

TCW Total Return Bond Fund CL 1

   Registered investment company                     100,837   
  

Templeton Growth Fund

   Registered investment company                     9,111   
  

Templeton Tr Global Bond Fund

   Registered investment company                     69,491   
  

Templeton Global Invt Tr Bric Fund

   Registered investment company                     2,591   
  

TFS Cap Invt Tr Market Neutral Fund

   Registered investment company                     15,817   
  

The Select Fund

   Registered investment company                     4,677   
  

Third Avenue Tr Small Cap Value Fund

   Registered investment company                     3,209   
  

Third Avenue Tr Value Tr Fund

   Registered investment company                     70,016   
  

Thomas White Intl Fund

   Registered investment company                     8,043   
  

Thompson Plumb Funds Inc Bond Fund

   Registered investment company                     7,892   
  

Thornburg Intl Value Fund

   Registered investment company                     48,378   
  

Tocqueville Gold Fund

   Registered investment company                     208,005   
  

Tocqueville Tr Delafield Fund

   Registered investment company                     20,607   
  

Tocqueville Tr Fund

   Registered investment company                     66,822   
  

Touchstone Tr Sands Cap Select Growth

   Registered investment company                     92,344   
  

Touchstone Funds Group Tr Small Cap Value Fund

   Registered investment company                     5,349   
  

Touchstone funds Group Tr Ultra Short Duration Fixed

   Registered investment company                     6,281   
  

Touchstone Strategic Tr Large Cap Growth Fund

   Registered investment company                     6,940   
  

Touchstone Strategic Tr Value Fund CL Y

   Registered investment company                     15,277   
  

Transamerica Diversified Equity

   Registered investment company                     54,627   
  

Turner Funds Midcap Fund

   Registered investment company                     87,225   
  

Turner Funds Small Cap Growth Fund

   Registered investment company                     991   
  

Tweedy Browne Fund Inc Global Value Fund

   Registered investment company                     20,586   
  

US Global Accolade Funds Eastn European Fund

   Registered investment company                     27,737   
  

US Global Investors Funds

   Registered investment company                     47,639   
  

Ultra NASDAQ 100 Inv

   Registered investment company                     30,000   
  

Unified Ser Tr IMS Cap Value Fund

   Registered investment company                     2,300   
  

Unified Ser Tr Roosevelt Multi-Cap Fund

   Registered investment company                     7,875   
  

USGI Wold Precious Mineral Fund

   Registered investment company                     32,873   
  

Value Line Inc Fund

   Registered investment company                     18,168   
  

Value Line Small Cap Growth Fund

   Registered investment company                     9,984   
  

Van Eck Funds Intl Inv

   Registered investment company                     138,808   

 

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Table of Contents

401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

May 31, 2012

 

(a)    (b)    (c)    (c)    (c)    (c)    (d)    (e)  
               Rate    Date of                 
     Identity of Issue, Borrower,         of    Maturity    Par         Current  
     Lessor or Similar Party    Description of Investment    Interest    Year    Month    Value    Cost (1)    Value  
   Van Eck Commodity Index Fund    Registered investment company                     23,453   
  

Van Eck Global Hard Ast CL A

   Registered investment company                     2,449   
  

Vanguard Asset Allocation Fund Inc US Value Fund

   Registered investment company                     3,268   
  

Vanguard Balanced Index Fund

   Registered investment company                     7,170   
  

Vanguard Bond Index Fund Inc Inter Term Portfolio Fund

   Registered investment company                     135,314   
  

Vanguard Bond Index Fund Long Term Portfolio Fund

   Registered investment company                     79,378   
  

Vanguard Bond Index Fund Inc Short Term Portfolio Fund

   Registered investment company                     148,582   
  

Vanguard Bond Index Fund Total Bond Mkt

   Registered investment company                     64,090   
  

Vanguard Developed Markets Index Fund

   Registered investment company                     125,931   
  

Vanguard Equity Inc Fund

   Registered investment company                     7,293   
  

Vanguard Emerging Markets Stk Index Fund Signal Shs

   Registered investment company                     37,762   
  

Vanguard Emerging Markets Stock Index Fund

   Registered investment company                     316,665   
  

Vanguard Explorer Fund

   Registered investment company                     2,927   
  

Vanguard Fenway Funds Prime Cap Core Fund

   Registered investment company                     30,586   
  

Vanguard Fixed Income Secs Fund Inc GNMA Portfolio

   Registered investment company                     488,091   
  

Vanguard Fixed Income Secs Fund Inc Inter-term

   Registered investment company                     23,116   
  

Vanguard Fixed Income Secs Fund Inc Inter-term Invt Grade

   Registered investment company                     17,544   
  

Vanguard Fixed Income Secs Fund Inc Long-term Invt Grade Fund

   Registered investment company                     26,533   
  

Vanguard Fxd Inc Secs Fund Inflation Protected Fund

   Registered investment company                     176,377   
  

Vanguard Fxd Inc Secs Fund Inc Short Term US Treas Portfolio

   Registered investment company                     2,038   
  

Vanguard Growth Index Fund

   Registered investment company                     34,188   
  

Vanguard High Dividend Yield

   Registered investment company                     58,100   
  

Vanguard Horizon Global Equity Fund

   Registered investment company                     40,877   
  

Vanguard Index Tr 500 Portfolio Fund

   Registered investment company                     134,897   
  

Vanguard Index Tr Extd Mkt Fund

   Registered investment company                     52,946   
  

Vanguard Index Tr Growth Index Fund Signal Shs

   Registered investment company                     75,122   
  

Vanguard Index Tr Mid Capitalization Stock Fund

   Registered investment company                     32,229   
  

Vanguard Index Tr Small Cap Growth Portfolio

   Registered investment company                     232,790   
  

Vanguard Index Tr Value Index Fund

   Registered investment company                     107,853   
  

Vanguard International Equity Index Fund Inc European Portfolio

   Registered investment company                     19,219   
  

Vanguard International Value Fund

   Registered investment company                     98,021   
  

Vanguard Pacific Stk Index Fund

   Registered investment company                     9,659   
  

Vanguard Short Term Invt Grade Inv

   Registered investment company                     159,781