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, 2014

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, 2014 and 2013


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, 2014 and 2013

     2   

Statement of Changes in Net Assets Available for Benefits Year Ended May 31, 2014

     3   

Notes to Financial Statements May 31, 2014 and 2013

     4–15   

Supplemental Schedules

  

Schedule H, Line 4i – Schedule of Assets (Held at End of Year) May 31, 2014

     17–26   

Schedule H, Line 4i – Schedule of Assets (Acquired and Disposed of Within Year) Year Ended May  31, 2014

     27–28   

 

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

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 statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the 401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc. (the “Plan”) at May 31, 2014 and May 31, 2013, and the changes in net assets available for benefits for the year ended May 31, 2014, 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) as of May 31, 2014, and Schedule of Assets (Acquired and Disposed of Within Year) for the year ended May 31, 2014 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 audit 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, 2014


Table of Contents

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

Statements of Net Assets Available for Benefits

May 31, 2014 and 2013

 

 

     2014     2013  

Assets

    

Investments, at fair value

    

Collective trust funds

   $ 1,975,060,167      $ 1,628,931,881   

NIKE, Inc. Class B common stock

     646,689,659        549,825,241   

Registered investment companies

     106,374,959        89,810,730   

Corporate and foreign bonds

     35,723,314        39,917,598   

Interest bearing cash

     1,705,571        3,425,720   

Preferred stocks

     569,520        —     

Common and foreign stocks

     2,382        20,973   
  

 

 

   

 

 

 

Total investments

     2,766,125,572        2,311,932,143   
  

 

 

   

 

 

 

Receivables

    

Employer contributions

     50,576,135        46,735,971   

Notes receivable from participants

     29,612,682        27,201,901   

Participant contributions

     3,428,578        —     

Accrued interest and dividends

     2,662,164        2,595,278   

Due from broker for securities sold

     1,138,118        2,790,079   
  

 

 

   

 

 

 

Total receivables

     87,417,677        79,323,229   
  

 

 

   

 

 

 

Cash

     366,761        5,184,500   
  

 

 

   

 

 

 

Total assets

     2,853,910,010        2,396,439,872   
  

 

 

   

 

 

 

Liabilities

    

Due to broker for securities purchased

     1,097,583        3,018,375   

Accrued expenses

     153,393        145,049   
  

 

 

   

 

 

 

Total liabilities

     1,250,976        3,163,424   
  

 

 

   

 

 

 

Net assets available for benefits at fair value

     2,852,659,034        2,393,276,448   

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

     (1,415,088     (1,540,512
  

 

 

   

 

 

 

Net assets available for benefits

   $ 2,851,243,946      $ 2,391,735,936   
  

 

 

   

 

 

 

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

 

2


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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, 2014

 

 

Additions

  

Investment income

  

Net appreciation in fair value of investments

   $ 377,498,003   

Interest and dividends

     11,329,050   
  

 

 

 

Total investment income

     388,827,053   

Less: Investment expenses

     (472,146
  

 

 

 

Net investment income

     388,354,907   
  

 

 

 

Interest income on notes receivable from participants

     1,155,431   
  

 

 

 

Contributions

  

Employer, net of forfeitures

     101,555,361   

Participant

     87,603,557   

Rollover

     9,683,559   
  

 

 

 

Total contributions

     198,842,477   
  

 

 

 

Total additions

     588,352,815   
  

 

 

 

Deductions

  

Benefits paid to participants

     (127,222,742

Administrative expenses

     (1,622,063
  

 

 

 

Total deductions

     (128,844,805
  

 

 

 

Net increase

     459,508,010   

Net assets available for benefits

  

Beginning of year

     2,391,735,936   
  

 

 

 

End of year

   $ 2,851,243,946   
  

 

 

 

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, 2014 and 2013

 

 

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 eligible 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. Self-directed brokerage account 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 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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401(k) Savings and Profit Sharing Plan for Employees of NIKE, Inc.

Notes to Financial Statements

May 31, 2014 and 2013

 

 

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 in the proportion of the participant’s annual compensation to compensation of all participants 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.

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.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

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, 2014, profit sharing forfeitures of $1,662,421 were used to reduce employer contributions. At May 31, 2014 and 2013, accumulated profit sharing forfeitures totaled $1,590,615 and $1,351,379, 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 ranges 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.

Investment Valuation and Income Recognition

The Company’s Retirement Committee determines the Plan’s valuation policies utilizing information provided by the Trustee and collective trust funds.

Managed funds consist of investments in preferred, common and foreign stock, corporate and foreign bonds, collective trust funds, registered investment companies, U.S. government securities, and interest bearing cash. See Note 4 for discussion of fair value measurements.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

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 consists 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. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of May 31, 2014 or 2013. If a participant ceases to make loan repayments and the plan administrator deems the participant loan to be in default, the participant loan balance is reduced and a benefit payment is recorded.

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, 2014 and 2013, there were $908,293 and $455,396, 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’s Management 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 (NAV) of the funds, will occur in the near term and that such changes could materially affect participants’ 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.

Subsequent Events

The Plan has evaluated subsequent events through November 21, 2014 and determined that no significant subsequent events have occurred requiring adjustments to the financial statements or disclosures.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

 

3. Investments

The following presents investments that represent 5% or more of the Plan’s net assets at May 31, 2014:

 

Participant-directed

  

NIKE, Inc. Class B Common Stock

   $ 646,689,659   

Collective trust funds

  

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

     536,436,807   

Northern Trust Global Investments Collective Daily Russell * 2000 Equity Index Fund

     260,503,936   

NT Collective ACWI ex-US Fund (Lending)

     259,587,395   

Northern Trust Global Investments Collective Daily Aggregate * Bond Index Fund

     200,024,349   

Morley Stable Value Fund

     164,147,602   

Nonparticipant-directed

  

Collective trust funds

  

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

     163,352,118   

 

* The Plan has additional non participant-directed investments in this fund which do not exceed 5% or more of the Plan’s net assets.

The following presents investments that represent 5% or more of the Plan’s net assets at May 31, 2013:

 

Participant-directed

  

NIKE, Inc. Class B Common Stock

   $ 549,825,241   

Collective trust funds

  

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

     419,124,371   

Northern Trust Global Investments Collective Daily Aggregate * Bond Index Fund

     174,974,234   

Northern Trust Global Investments Collective Daily Russell * 2000 Equity Index Fund

     212,483,150   

Northern Trust Bank NA Collective Daily All Country World Exchange Fund

     208,237,646   

Morley Stable Value Fund

     146,716,861   

Nonparticipant-directed

  

Collective trust funds

  

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

     141,364,130   

 

* The Plan has additional non participant-directed investments in this fund which do not exceed 5% or more of the Plan’s net assets.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

During the year ended May 31, 2014, 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

   $ 133,366,561   

Collective trust funds

     226,525,705   

Registered investment companies

     16,917,187   

Corporate bonds

     689,886   

Preferred and common stocks

     (1,336
  

 

 

 
   $ 377,498,003   
  

 

 

 

 

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 measurement). The three levels of the fair value hierarchy are described below:

 

  Level l 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 price for similar assets or liabilities in active markets;

 

   

Quoted price 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 below 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 different fair value measurement at the reporting date.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at May 31, 2014 and 2013.

Common, Preferred and Foreign Stocks: 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.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

Fixed Income Securities: Corporate bonds and US Treasuries 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. Valuation techniques incorporate available market information and proprietary valuation models, which consider characteristics such as benchmark yield curve, coupon rates, credit spreads, estimated default rates and other features.

Registered Investment Companies: Registered investment companies (or mutual funds) are valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily NAV and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.

Collective trust funds: Collective trust funds represent investments held in pooled funds. The Plan’s interests in the collective trust funds are valued based on the NAV provided by Northern Trust. The accuracy of the NAV is verified using the audited financial statements of the collective trust funds. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. Participant transactions (purchases and sales) may occur daily. Were the Plan to initiate a full redemption of the collective trust, the investment advisor reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations will be carried out in an orderly business manner.

Stable Value Fund: The Plan invests in the Union Bond & Trust Company Morley Stable Value Fund (“Morley Stable Value Fund”), a collective trust fund, which holds fully benefit-responsive investment contracts. This fund 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. Because the participants transact at contract value, fair value is determined annually for financial reporting purposes only. The Investment Sub-Committee reviews the reasonableness of management’s use of the annual Morley Stable Value Fund audited financial statement fair value, adjusted to the Plan’s year-end, to determine the fair value of this fund. However, contract value is the relevant measurement attribute for that portion of the net assets 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 benefit-responsive investment contracts through a collective trust fund. The Statements of Net Assets Available for Benefits present the fair value of the investment in the collective trust fund as well as the adjustment of the investment in the collective trust fund 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.

 

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

The following tables set forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of May 31, 2014 and 2013:

 

     Assets at Fair Value at Mar 31, 2014  
     Level l      Level 2      Level 3      Total  

Collective trust funds

           

Equity index funds

   $ —         $ 1,425,640,560       $ —         $ 1,425,640,560   

Other fixed income funds

        341,181,833            341,181,833   

Real estate funds

        40,145,084            40,145,084   

Stable value funds

           164,147,602         164,147,602   

Other short term investment funds

        3,945,088            3,945,088   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total collective trust funds

     —           1,810,912,565         164,147,602         1,975,060,167   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common and foreign stocks

           

Consumer discretionary

     646,689,659               646,689,659   

Information technology

     2,382               2,382   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total common and foreign stocks

     646,692,041         —           —           646,692,041   
  

 

 

    

 

 

    

 

 

    

 

 

 

Preferred stocks

           

Consumer goods

     569,520               569,520   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total preferred stocks

     569,520         —           —           569,520   
  

 

 

    

 

 

    

 

 

    

 

 

 

Registered investment companies

           

Commodity funds

     49,396,932               49,396,932   

Equity funds

     42,141,078               42,141,078   

Bond funds

     10,203,914               10,203,914   

Short term funds

     4,020,058               4,020,058   

Real estate funds

     612,977               612,977   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total registered investment companies

     106,374,959         —           —           106,374,959   

Corporate and foreign bonds

        35,723,314            35,723,314   

Interest bearing cash

     1,705,571               1,705,571   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets at fair value

   $ 755,342,091       $ 1,846,635,879       $ 164,147,602       $ 2,766,125,572   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

11


Table of Contents

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

 

     Assets at Fair Value at Mar 31, 2013  
     Level l      Level 2      Level 3      Total  

Collective trust funds

           

Equity index funds

   $ —         $ 1,157,755,404       $ —         $ 1,157,755,404   

Other fixed income funds

        282,039,321            282,039,321   

Real estate funds

        33,259,670            33,259,670   

Stable value funds

           148,446,672         148,446,672   

Other short term investment funds

        7,430,814            7,430,814   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total collective trust funds

     —           1,480,485,209         148,446,672         1,628,931,881   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common and foreign stocks

           

Consumer discretionary

     549,825,241               549,825,241   

Energy

     18,900               18,900   

Information technology

     2,073               2,073   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total common and foreign stocks

     549,846,214         —           —           549,846,214   
  

 

 

    

 

 

    

 

 

    

 

 

 

Registered investment companies

           

Commodity funds

     41,299,375               41,299,375   

Equity funds

     33,208,119               33,208,119   

Bond funds

     10,083,733               10,083,733   

Short term funds

     4,468,336               4,468,336   

Real estate funds

     751,167               751,167   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total registered investment companies

     89,810,730         —           —           89,810,730   

Corporate and foreign bonds

        39,917,598            39,917,598   

Interest bearing cash

     3,425,720               3,425,720   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets at fair value

   $ 643,082,664       $ 1,520,402,807       $ 148,446,672       $ 2,311,932,143   
  

 

 

    

 

 

    

 

 

    

 

 

 

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, 2014:

 

     Morley Stable
Value Fund
 

Balance at beginning of year

   $ 148,446,672   

Purchases

     71,667,586   

Sales

     (57,608,848

Realized gains, net

     714,725   

Unrealized gains, net

     927,465   

Other

     2   
  

 

 

 

Balance at end of year

   $ 164,147,602   
  

 

 

 

Unrealized gains/(losses) from the guaranteed investment contract are not included in the Statement of Changes in Net Assets Available for Benefits as the contract is recorded at contract value for purposes of the net assets available for benefits.

 

12


Table of Contents

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

Fair Value of Investments in Entities that Use NAV

The following table summarizes those investments measured at fair value using NAV as a practical expedient as of May 31, 2014 and 2013, respectively.

May 31, 2014

 

Fund    Fair Value      Unfunded
Commitments
   Redemption
Frequency
   Redemption
Notice Period

NT Collective Government Short Term Investment Fund

   $ 3,987,743       N/A    Daily    Same Day

NT Collective ACWI ex-US Fund (Non-Lending)

     78,812,676       N/A    Daily    1 Day

NT Collective Daily Aggregate Bond Index Fund

     292,327,018       N/A    Daily    Same Day

NT Collective Daily Russell 2000 Equity Index Fund

     299,223,989       N/A    Daily    Same Day

NT Collective S&P 400 Index Fund

     41,264,879       N/A    Daily    Same Day

NT Collective Daily S&P 500 Equity Index Fund

     699,788,925       N/A    Daily    Same Day

NT Collective World Government Bond Index Fund

     48,812,161       N/A    Daily    1 Day

NT Collective ACWI ex-US Fund (Lending)

     259,587,395       N/A    Daily    1 Day

NT Collective Developed International Small Cap Index Fund

     46,962,695       N/A    Daily    1 Day

NT Collective Global Real Estate Index Fund

     40,145,084       N/A    Daily    1 Day

Morley Stable Value Fund

     164,147,602       N/A    Daily    Same Day

May 31, 2013

 

Fund    Fair Value      Unfunded
Commitments
   Redemption
Frequency
   Redemption
Notice Period

NT Collective Government Short Term Investment Fund

   $ 7,430,814       N/A    Daily    Same Day

NT Collective ACWI ex-US Fund (Non-Lending)

     66,992,791       N/A    Daily    1 Day

NT Collective Daily Aggregate Bond Index Fund

     244,519,485       N/A    Daily    Same Day

NT Collective Daily Russell 2000 Equity Index Fund

     247,174,935       N/A    Daily    Same Day

NT Collective S&P 400 Index Fund

     34,892,149       N/A    Daily    Same Day

NT Collective Daily S&P 500 Equity Index Fund

     560,488,501       N/A    Daily    Same Day

NT Collective World Government Bond Index Fund

     37,519,836       N/A    Daily    1 Day

NT Collective ACWI ex-US Fund (Lending)

     208,237,646       N/A    Daily    1 Day

NT Collective Developed International Small Cap Index Fund

     39,969,380       N/A    Daily    1 Day

NT Collective Global Real Estate Index Fund

     33,259,670       N/A    Daily    1 Day

Morley Stable Value Fund

     148,446,672       N/A    Daily    Same Day

 

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.

 

13


Table of Contents

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

Certain Plan investments are shares of Company common stock. For the year ended May 31, 2014 and 2013, the Plan purchased 135,834 and 141,834 shares of NIKE, Inc. Class B common stock, respectively, at a cost of $9,499,193 and $9,457,249, respectively. For the same years ended, the Plan sold 511,649 and 505,096 shares of NIKE, Inc. Class B common stock, respectively, at a cost of $31,611,267 and $37,495,438, respectively. At May 31, 2014 and 2013, the Plan held $646,689,659 (8,408,395 shares) and $549,825,241 (8,917,049 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 December 16, 2013 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.

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, 2014 and 2013, 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 the Plan is no longer subject to income tax examinations for years prior to 2011.

 

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:

 

     2014     2013  

Net assets

    

Collective trust funds

   $ 553,862,586      $ 464,281,446   

Employer receivable

     48,690,673        46,735,971   

Registered investment companies

     49,260,401        41,130,734   

Corporate and foreign bonds

     35,723,314        39,713,678   

Accrued interest and dividends

     637,919        717,747   

Cash

     13,488        —     

Interest bearing cash

     1,695,548        3,415,879   

Common and foreign stocks

     2,382        20,973   

Preferred stocks

     569,520        203,920   

Due from broker for securities sold

     882,545        2,666,862   

Due to broker for securities purchased

     (1,097,583     (3,018,375

Accrued expenses

     (70,123     (69,203
  

 

 

   

 

 

 

Total net assets

   $ 690,170,670      $ 595,799,632   
  

 

 

   

 

 

 

 

14


Table of Contents

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

Notes to Financial Statements

May 31, 2014 and 2013

 

 

 

     Year Ended  
     May 31, 2014  

Changes in net assets

  

Net appreciation in fair value of investments

   $ 75,234,801   

Employer contributions

     48,690,673   

Interest and dividends

     2,580,249   

Purchases and sales, net

     109,402   

Administrative and investment expenses

     (904,450

Benefits paid to participants

     (31,339,652
  

 

 

 
   $ 94,371,023   
  

 

 

 

 

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, 2014 and 2013:

 

     2014     2013  

Net assets available for benefits per the financial statements

   $ 2,851,243,946      $ 2,391,735,936   

Benefits payable

     (908,293     (455,396

Loans deemed to be distributions for financial reporting purposes

     (626,773     (559,901

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

     1,415,088        1,540,512   
  

 

 

   

 

 

 

Net assets available for benefits per Form 5500

   $ 2,851,123,968      $ 2,392,261,151   
  

 

 

   

 

 

 

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, 2014:

 

Net increase in net assets per the financial statements

   $ 459,508,010   

Benefits payable at May 31, 2014

     (908,293

Benefits payable at May 31, 2013

     455,396   

Loans deemed to be distributions for financial reporting purposes at May 31, 2014

     (626,773

Loans deemed to be distributions for financial reporting purposes at May 31, 2013

     559,901   

Adjustment from fair value to contract value for interest in collective trust at May 31, 2014

     1,415,088   

Adjustment from fair value to contract value for interest in collective trust at May 31, 2013

     (1,540,512
  

 

 

 

Net increase in net assets per Form 5500

   $ 458,862,817   
  

 

 

 

 

15


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Participant directed

                    
  

1st Eagle Funds Inc

   Registered investment company                   $ 7,746   
  

1st Eagle Funds Overseas Fund

   Registered investment company                     199,753   
  

lst Eagle Sogen Funds Global Fund

   Registered investment company                     544,319   
  

1st Eagle Sogen Funds Gold Fund

   Registered investment company                     66,215   
  

3rd Avenue Tr Intl Value Fund

   Registered investment company                     8,767   
  

3rd Avenue, Tr Real Estate Value Fund

   Registered investment company                     56,601   
  

Aberdeen Intl Equity Fund

   Registered investment company                     15,648   
  

Aberdeen Global Nat Res Fund

   Registered investment company                     7,063   
  

Advantage Funds Dreyfus Global Absolute

   Registered investment company                     5,262   
  

Advisors Inner Circle Fund Acadian Emerging Mkts Inst Fund

   Registered investment company                     17,774   
  

Advisors Inner Circle Fund Cambiar Aggressive Value

   Registered investment company                     45,236   
  

Advisors Inner Circle Fund II Inc New Champlain Small Co Fund

   Registered investment company                     32,689   
  

Advisors Ser Tr Huber Cap Small Cap Value

   Registered investment company                     167,466   
  

Aim Counselor Ser Tr Invesco Van Kampen

   Registered investment company                     13,036   
  

Aim Invesco Balanced-risk Allocation Fund CL A

   Registered investment company                     2,217   
  

Aim Invesco International Fund Asia

   Registered investment company                     18,938   
  

Aim Sector Funds Invesco Gold & Precious Metals

   Registered investment company                     15,266   
  

Aim Sector Funds Invesco Van Kampen CL Y

   Registered investment company                     9,758   
  

Aim Sector Funds Invesco Small Cap Value CL A

   Registered investment company                     15,629   
  

Alger Funds II Spectra CL A

   Registered investment company                     63,381   
  

Alger Funds II Spectra CL I

   Registered investment company                     95,059   
  

Alliance Bernstein Growth & Inc Fund

   Registered investment company                     20,838   
  

Alliance Bernstein Global Bond

   Registered investment company                     101,273   
  

Alliance Berstein HI Inc Fund CL A

   Registered investment company                     79,499   
  

Alliance Bernstein Quasar Fund CL A

   Registered investment company                     2,236   
  

Alliance Bernstein Small/Mid Cap Growth

   Registered investment company                     2,178   
  

Alliance Funds Global Small Cap

   Registered investment company                     2,445   
  

Allianz Funds NFJ Intl Value Fund CL D

   Registered investment company                     93,947   
  

Allianz Funds NFJ Dividend Value

   Registered investment company                     14,583   
  

Allianz Funds RCM Wellness Fund

   Registered investment company                     43,378   
  

Amana Mutual Fund Tr Growth Fund

   Registered investment company                     267,736   
  

Amana Mutual Fund Tr Income Fund

   Registered investment company                     72,959   
  

American AMCAP Fund

   Registered investment company                     66,878   
  

American Beacon Intl Equity

   Registered investment company                     35,170   
  

American Beacon Funds Large Cap Value Fund

   Registered investment company                     156,728   
  

American Beacon Funds Mid Cap Value Fund

   Registered investment company                     44,694   
  

American Bellcon Funds Small Cap Value Fund

   Registered investment company                     51,354   
  

American Cap World Growth & Inc Fund

   Registered investment company                     5,168   
  

American Century 20th Century Growth Fund

   Registered investment company                     289,295   
  

American Century Cap Portfolio Inc Equity Income Fund

   Registered investment company                     501,397   
  

American Century Cap Portfolio Inc Mid Cap Value Fund

   Registered investment company                     127,563   
  

American Century Cap Portfolio Inc Real Estate Fund

   Registered investment company                     23,341   
  

American Century Cap Portfolio Inc Value Fund

   Registered investment company                     53,958   
  

American Century Ginnie Mae Investor Class

   Registered investment company                     4,415   
  

American Century Govt Inc Tr Benham

   Registered investment company                     65,398   
  

American Century Govt Inc Tr Inflation-adjusted Bd Fund

   Registered investment company                     49,792   
  

American Century Intl Bond Fund

   Registered investment company                     11,057   
  

American Century Mut Fund Inc Heritage Fund

   Registered investment company                     86,364   
  

American Century Mutual Funds Inc Cap Value

   Registered investment company                     112,594   
  

American Century Quantitative Equity Growth Fund

   Registered investment company                     220,863   
  

American Century Quantitative Equity Utils Fund

   Registered investment company                     50,632   
  

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

   Registered investment company                     29,319   
  

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

   Registered investment company                     116,849   
  

Appleseed Fund

   Registered investment company                     38,755   
  

Arbitrage Funds CL R

   Registered investment company                     5,817   
  

Ariel Invt Tr Appreciation Fund

   Registered investment company                     22,097   
  

Ariel Invt Tr Focus Fund

   Registered investment company                     11,643   
  

Arrow Invts Tr Commodity Strategy

   Registered investment company                     16,750   
  

Arlio Global lnvt Funds Aberbeen Select Intl Equity II CL A

   Registered investment company                     8,446   
  

Artisan Funds Global Value

   Registered investment company                     34,318   
  

Artisan Funds Inc International Value Fund

   Registered investment company                     83,507   
  

Artisan Funds Inc International Fund

   Registered investment company                     401,963   
  

Artisan Funds Inc International Small Cap Fund

   Registered investment company                     16,971   
  

Artisan Partners Funds Global Equity

   Registered investment company                     17,890   
  

Artisan Funds Mid Cap Fund

   Registered investment company                     279,662   
  

Artisan Funds Mid Cap Value Fund

   Registered investment company                     37,547   
  

AQR Funds Small Cap Momentum

   Registered investment company                     12,556   
  

Aquila Three Peaks High Income Fund

   Registered investment company                     53,952   
  

Aston Funds Small Cap Growth

   Registered investment company                     28,921   
  

Aston Funds for future issues—Fairpointe Mid Cap Fund

   Registered investment company                     41,076   
  

Aston Funds for future issues—Montag Caldwll Growth Fund

   Registered investment company                     16,187   
  

Baird Funds Core Plus Bond Fund

   Registered investment company                     45,742   
  

Baron Ast Fund Growth Fund

   Registered investment company                     451,247   
  

Baron Ast Fund Small Cap Fund

   Registered investment company                     185,901   
  

Baron Invt Funds Tr Opportunity Fund

   Registered investment company                     3,314   
  

Baron Partners Fund

   Registered investment company                     112,344   
  

Baron Select Fund Real Estate Fund

   Registered investment company                     24,407   
  

Blackrock Emerging Markets

   Registered investment company                     25,401   
  

Blackrock Equity Dividend Fund CL-A

   Registered investment company                     228,871   
  

Blackrock Equity Dividend fund Svc Cl

   Registered investment company                     40,161   
  

Blackrock Funds High Yield Bond

   Registered investment company                     23,829   
  

Blackrock Funds Intl Opportunities Portfolio

   Registered investment company                     67,568   
  

Blackrock Funds Global Allocation Fund CL A

   Registered investment company                     15,967   
  

Blackrock Funds Global Long/Short

   Registered investment company                     79,581   
  

Blackrock Funds II Multi Asset Income

   Registered investment company                     66,750   
  

Blackrock GNMA Portfolio

   Registered investment company                     3,564   
  

Blackrock Hlth Sc- Inv A

   Registered investment company                     12,854   
  

Blackrock Nat Res Tr CL A

   Registered investment company                     5,411   
  

Blair William Mutual Funds Small Cap Growth Fund

   Registered investment company                     36,253   
  

Blair William Mutual Funds Small Mid-Cap Growth Fund

   Registered investment company                     21,532   

 

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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

BMO Small Cap Growth

   Registered investment company                     7,137   
  

BMO Funds Inc Tch Corp Income Fund CL Y

   Registered investment company                     35,141   
  

BNY Mellon Funds Tr Small Cap Multi Strategy Fund

   Registered investment company                     1,716   
  

Bridgeway Aggressive Investors Fund

   Registered investment company                     14,316   
  

Bridgeway Small Cap Value Fund CL N

   Registered investment company                     8,198   
  

Broadview Funds Tr Opportunity Fund

   Registered investment company                     8,733   
  

Brown Advisory Growth Equity Fund

   Registered investment company                     45,594   
  

Brown Cap Mgmt Small Co Fund

   Registered investment company                     34,001   
  

Buffalo Hi Yield Fund

   Registered investment company                     14,562   
  

Buffalo Funds Discovery

   Registered investment company                     45,915   
  

Buffalo Emerging Opportunities Fund

   Registered investment company                     31,522   
  

Buffalo Small Cap Fund

   Registered investment company                     52,909   
  

Burnham Finl Services Fund CL A

   Registered investment company                     2,028   
  

Calamos Invt Tr New Growth Fund

   Registered investment company                     85,062   
  

Calvert Impact Fund Inc Global Water Fund CL A

   Registered investment company                     2,200   
  

Calvert Ultra Short Income Fund CL Y

   Registered investment company                     25,746   
  

Calvert Ultra Short Fltg Income Fund CL A

   Registered investment company                     62,159   
  

Causeway Emerging Markets Fund

   Registered investment company                     19,756   
  

CGM Focus Fund

   Registered investment company                     184,737   
  

CGM Tr Realty Fund

   Registered investment company                     71,318   
  

Champlain Mid Cap Fund

   Registered investment company                     154,271   
  

Cohen & Steers lntl Rlty Shs Fund

   Registered investment company                     5,745   
  

Cohen & Steers Rlty Focus Fund CL A

   Registered investment company                     17,668   
  

Cohen & Steers Rlty Shs Inc Com Fund

   Registered investment company                     348,857   
  

Columbia Acorn Tr. European Fund

   Registered investment company                     19,449   
  

Columbia Acorn Tr Fund CL Z

   Registered investment company                     14,275   
  

Columbia Funds Ser Tr Emerging Markets

   Registered investment company                     23,135   
  

Columbia Funds Ser Tr Energy & Nat Res

   Registered investment company                     73,858   
  

Columbia Funds Ser Tr Value & Restructuring CL Z

   Registered investment company                     216,969   
  

Columbia Funds Ser Tr Mid Cap Value

   Registered investment company                     9,914   
  

Commerce Funds Value Fund

   Registered investment company                     31,905   
  

Conestoga Funds Small Cap Fund

   Registered investment company                     53,412   
  

CRM Small/Mid Cap Value Fund

   Registered investment company                     18,375   
  

DFA Invt Dimensions Group US Micro Cap Fund

   Registered investment company                     16,649   
  

Diamond Hill Large Cap

   Registered investment company                     11,254   
  

Diamond Hill Small Cap Fund

   Registered investment company                     33,774   
  

Direxion Funds Latin America Bull

   Registered investment company                     1,688   
  

Direxion Funds Monthly NASDAQ-100

   Registered investment company                     5,088   
  

Direxion Funds Monthly Nat Res Bull 2x Fund

   Registered investment company                     1,477   
  

Direxion Funds Monthly S&P 500 Bull 2x

   Registered investment company                     2,474   
  

Direxion Funds Monthly 7-10 Yr Treas Bear 2x

   Registered investment company                     28,240   
  

Dodge & Cox Balanced Fund

   Registered investment company                     297,320   
  

Dodge & Cox Inc Fund

   Registered investment company                     123,691   
  

Dodge & Cox International Stock Fund

   Registered investment company                     384,630   
  

Dodge & Cox Global Stk Fund

   Registered investment company                     1,172   
  

Dodge & Cox Stock Fund

   Registered investment company                     216,793   
  

Domini Social Index Fund

   Registered investment company                     8,000   
  

Doubleline Total Return Bond—N

   Registered investment company                     173,672   
  

Doubleline Total Return Bond—I

   Registered investment company                     49,403   
  

Dreyfus Appreciation Fund

   Registered investment company                     85,080   
  

Dreyfus Emerging Markets Fund

   Registered investment company                     130,137   
  

Dreyfus Fund Inc

   Registered investment company                     18,615   
  

Dreyfus Index Funds S&P 500 Index Fund

   Registered investment company                     27,001   
  

Dreyfus Index Funds Small Cap Stock Fund

   Registered investment company                     54,266   
  

Dreyfus Invt Grade Fund

   Registered investment company                     5,060   
  

Dreyfus Midcap Index Fund

   Registered investment company                     23,874   
  

Dreyfus Midcap Growth Fund

   Registered investment company                     21,219   
  

Dreyfus NY Municipal Cash Mgmt Emerging Markets Fund

   Registered investment company                     8,469   
  

Dreyfus Opportunistic Mid Cap Value

   Registered investment company                     57,839   
  

Dreyfus/The Boston Company Small/Mid Cap Growth Fund CL A

   Registered investment company                     4,840   
  

DWS Mkt Tr Alternative Asset Allocation Fund

   Registered investment company                     31,705   
  

DWS Secs Tr Gold & Precious Metals Fund CL S

   Registered investment company                     44,297   
  

Eagle Ser

   Registered investment company                     25,253   
  

Eaton Vance Inc Fund Bstn Inc

   Registered investment company                     155,157   
  

Eaton Vance Mutual Funds Tr Fltg Rate Advantage CL A

   Registered investment company                     25,306   
  

Eaton Vance Mutual Funds Tr Fltg Rate & High Income Fund

   Registered investment company                     59,945   
  

Eaton Vance Mutual Funds Tr Fltg Rate Fund Advisors Cl

   Registered investment company                     41,266   
  

Eaton Vance Mutual Funds Tr Strategic Inc Fund

   Registered investment company                     109,734   
  

Eaton Vance Parametric Structured Emerging Markets

   Registered investment company                     181,659   
  

Eaton Vance Spl Invt Tr Greater India Fund

   Registered investment company                     48   
  

Equity Inc A

   Registered investment company                     90,470   
  

Europac Growth Fund CL F-l

   Registered investment company                     22,580   
  

Europac Growth Fund CL R-4

   Registered investment company                     142,816   
  

Europac Growth Fund CL R-5 _

   Registered investment company                     30,587   
  

Fairholme Income Fund

   Registered investment company                     542,425   
  

Federated Income Secs Tr Short-term Income Fund

   Registered investment company                     11,994   
  

Federated Prudent Bear Fund

   Registered investment company                     8,886   
  

Federated Total Retum Sers Inc Bond Fund

   Registered investment company                     209,437   
  

Fedt Equity Inc Fund CL A

   Registered investment company                     12,555   
  

Fedt Hi Yield Tr Sh Ben Int Open End Fund

   Registered investment company                     34,003   
  

Fidelity Advisor Ser II Fltg Rate High Inc Fund

   Registered investment company                     316,205   
  

Fidelity Advisor Ser VIII Emerging Asia Fund

   Registered investment company                     34,321   
  

Fidelity Cap & Income Fund

   Registered investment company                     33,370   
  

Fidelity China Region Fund

   Registered investment company                     24,067   
  

Fidelity Concord Str Tr Spartan Intl Index Fund

   Registered investment company                     45,344   
  

Fidelity Concord Str Tr Spartan Short term Treas Bd Index

   Registered investment company                     69,465   
  

Fidelity Finl Tr Conv Sec Fund

   Registered investment company                     20,877   

 

18


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Fidelity Invt Tr Canada Fund

   Registered investment company                     18,281   
  

Fidelity Contra Fund

   Registered investment company                     292,906   
  

Fidelity Equity Income Real Estate Invt Portfolio

   Registered investment company                     35,426   
  

Fidelity DVD Growth Fund

   Registered investment company                     6,680   
  

Fidelity Hastings Str Tr Growth Fund

   Registered investment company                     9,112   
  

Fidelity Invt Tr Emerging Markets Fund

   Registered investment company                     5,856   
  

Fidelity Invt Tr New Markets Income Fund

   Registered investment company                     29,842   
  

Fidelity Invt Tr Worldwide Fund

   Registered investment company                     28,568   
  

Fidelity Low priced stock Fund

   Registered investment company                     54,979   
  

Fidelity Magellan Fund

   Registered investment company                     7,083   
  

Fidelity New Latin America Fund

   Registered investment company                     8,098   
  

Fidelity New Millennium Fund

   Registered investment company                     13,016   
  

Fidelity OTC Portfolio Open End Fund

   Registered investment company                     33,206   
  

Fidelity Puritan Fund

   Registered investment company                     10,058   
  

Fidelity Secs Fund Intl Real Estate

   Registered investment company                     23,292   
  

Fidelity Select Biotechnology

   Registered investment company                     31,259   
  

Fidelity Select Portfolios Advisor Materials CL A

   Registered investment company                     17,477   
  

Fidelity Secs Blue Chip Growth Fund

   Registered investment company                     3,012   
  

Fidelity Secs Fund Small Cap Value Fund

   Registered investment company                     15,516   
  

Fidelity Small Cap Stock Fund

   Registered investment company                     33,113   
  

Fidelity Value Fund

   Registered investment company                     171,191   
  

Financial Invs Tr Grandeur Peak Intl Opportunities Fund

   Registered investment company                     105,505   
  

Financial Invs Tr Vulcan Value

   Registered investment company                     25,693   
  

Financial Invs Tr Vulcan Value Partners Fund

   Registered investment company                     32,496   
  

First Focus Tributary Balanced Fund

   Registered investment company                     2,513   
  

Firsthand Funds Technology Opportunities Fund

   Registered investment company                     6,510   
  

Firsthand Funds Technology Value Fund

   Registered investment company                     21,102   
  

Fleming Cap Mut Fund Group JP Morgan MidCap Value Fund

   Registered investment company                     15,217   
  

FMI Common Stk Fund

   Registered investment company                     19,066   
  

FMI Funds Inc

   Registered investment company                     318,130   
  

Forum Funds Merk Hard Currency

   Registered investment company                     82,778   
  

Franklin Balance Sheet Fund CL A

   Registered investment company                     32,645   
  

Franklin Managed Tr Rising Dividends

   Registered investment company                     33,349   
  

Franklin Strategic Ser Biotechnology Discovery Fund

   Registered investment company                     13,844   
  

Franklin Value Invs Tr Small Cap Value Fund

   Registered investment company                     212,344   
  

Franklin Growth Fund

   Registered investment company                     6,367   
  

Franklin Mutual Global Discovery

   Registered investment company                     44,127   
  

Gabelli Ast Fund Sh Ben Int Fund

   Registered investment company                     45,195   
  

Gabelli Equity Inc Fund

   Registered investment company                     185,583   
  

Gabelli Gold Fund

   Registered investment company                     7,195   
  

Gabelli Small Cap Growth Fund

   Registered investment company                     91,804   
  

Gabelli Value 25 Fund

   Registered investment company                     2,144   
  

Gateway Tr Fund CL A

   Registered investment company                     14,633   
  

Glenmede Inc Large Cap Growth

   Registered investment company                     69,679   
  

Glenmede Inc Large Cap 100 Port

   Registered investment company                     15,102   
  

Glenmede Small Capitalization Equity Port Adv

   Registered investment company                     17,441   
  

Goldman Sachs Tr Mid Cap Value Fund CL A

   Registered investment company                     52,782   
  

Goldman Sachs Tr Mid Cap Equity Fund Instl Shs

   Registered investment company                     17,687   
  

Goldman Sachs Tr Small/Mid Cap Growth Fund

   Registered investment company                     26,168   
  

Goldman Sachs Tr Strategic Income Fund

   Registered investment company                     1,945   
  

Greenspring Fund

   Registered investment company                     14,397   
  

Growth Fund America Inc CL F-1

   Registered investment company                     153,747   
  

Growth Fund America Inc CL R-4

   Registered investment company                     101,115   
  

Growth Fund America Inc CL R-5

   Registered investment company                     153,538   
  

Guinness Atkinson Funds Alternative Energy

   Registered investment company                     22,556   
  

Guiness Atkinson Funds China & Hong Kong

   Registered investment company                     37,852   
  

Guinness Atkinson Funds Global Energy

   Registered investment company                     1,654   
  

Hancock Horizon Burkenroad - A

   Registered investment company                     15,612   
  

Harbor Fund Intl Fund

   Registered investment company                     202,822   
  

Harbor Fund Bd Fund

   Registered investment company                     51,263   
  

Harbor Fund Cap Appreciation Fund

   Registered investment company                     47,086   
  

Harding Loevner Fds Inc Emerging Markets Portfolio Advisor CI

   Registered investment company                     19,206   
  

Harding Loevner Inter S/C-IV

   Registered investment company                     5,298   
  

Harding Loevner Intl Equity

   Registered investment company                     94,106   
  

Harris Assoc Invt Tr Oakmark Intl Small Cap Fund

   Registered investment company                     8,515   
  

Harris Assoc Invt Tr Oakmark Intl Fund

   Registered investment company                     831,253   
  

Hartford Mut Funds Growth Opportunities

   Registered investment company                     46,739   
  

Hartford Mutual Fund Inc for future issues Mid Cap

   Registered investment company                     48,866   
  

Heartland Group Inc Value Plus Fund

   Registered investment company                     57,162   
  

Henderson Global Funds Intl Opportunities Fund

   Registered investment company                     33,001   
  

Hennessy Mutual Funds Inc Focus Fund

   Registered investment company                     60,242   
  

Hennessy Mutual Funds Inc Focus Fund 30

   Registered investment company                     71,200   
  

Hennessy Funds Tr Gas Utility Index Fund

   Registered investment company                     44,823   
  

Hennessy Funds Tr Small Cap Finl Fund

   Registered investment company                     7,318   
  

Hennessy Select Sparx Japan Small Cos

   Registered investment company                     965   
  

Highland Funds I Fltg Rate Opportunities Fund

   Registered investment company                     2,077   
  

Homestead Funds Inc Small co Stk Fund

   Registered investment company                     45,321   
  

Hussman Strategic Growth Fund

   Registered investment company                     94,301   
  

Hussman Strategic Total Return Fund

   Registered investment company                     20,238   
  

Icon Funds Intl Equity Fund

   Registered investment company                     4,893   
  

Icon Funds Energy Fund

   Registered investment company                     138,912   
  

Icon Funds Information Tech Fund

   Registered investment company                     26,409   
  

Icon Funds Materials Fund

   Registered investment company                     2,889   
  

International Fund

   Registered investment company                     592,075   
  

Internet Fund

   Registered investment company                     10,012   
  

Intrepid Cap Mgmt Funds Small Cap

   Registered investment company                     5,579   
  

Invesco Charter Fund

   Registered investment company                     41,911   
  

Invesco Diversified Dividend Fund

   Registered investment company                     52,177   
  

Invesco Technology Fund

   Registered investment company                     3,264   
  

Investment Managers Ser Tr Europac Gold Fund

   Registered investment company                     29,474   
  

Investment Managers Ser Tr WCM Focused Intl Growth

   Registered investment company                     206,540   
  

Ivy Funds Inc Asset Strategy Fund CL A

   Registered investment company                     345,056   
  

Ivy Funds Inc LTD-Term Bond Fund CL Y

   Registered investment company                     3,506   
  

Ivy Funds Inc Science & Tech Fund CL Y

   Registered investment company                     35,384   
  

Ivy Funds Inc Small Cap Growth CL Y

   Registered investment company                     13,561   
  

Jumes Advantage Funds Balanced Golden Rainbow Fund

   Registered investment company                     4,696   

 

19


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Janus Balanced Fund-T

   Registered investment company                     200,469   
  

Janus Contrarian Fund

   Registered investment company                     68,803   
  

Janus Enterprise T

   Registered investment company                     148,866   
  

Janus Flexible Bond F-T

   Registered investment company                     23,678   
  

Janus Global Life Sciences

   Registered investment company                     16,319   
  

Janus Global Select Fund T

   Registered investment company                     89,889   
  

Janus Global Technology-T

   Registered investment company                     37,293   
  

Janus Growth & Income Fund

   Registered investment company                     99,350   
  

Janus High Yield Fund-T

   Registered investment company                     51,437   
  

Janus Overseas Fund T

   Registered investment company                     69,480   
  

Janus Research Fund

   Registered investment company                     286,010   
  

Janus Triton Fund

   Registered investment company                     174,825   
  

Janus Venture Fund

   Registered investment company                     175,047   
  

Janus Worldwide Fund T

   Registered investment company                     13,833   
  

Jensen Portfolio Inc Fund CL J

   Registered investment company                     636,789   
  

JOHCM International Select Fund

   Registered investment company                     180,968   
  

John Hancock III Disciplined Value Mid Cap Fund

   Registered investment company                     4,291   
  

John Hancock Disciplined Value Fund CL A

   Registered investment company                     210,435   
  

John Hancock Funds II US Equity

   Registered investment company                     14,594   
  

John Hancock Strategic Ser Inc Fund

   Registered investment company                     16,453   
  

JP Morgan STR Income Opp - A

   Registered investment company                     100,427   
  

JP Morgan Tr I US Equity Fund CL A

   Registered investment company                     94,404   
  

JP Morgan Tr II Core Plus Bond Fund CL A

   Registered investment company                     110,964   
  

JP Morgan Tr II Equity Income Fund

   Registered investment company                     114,765   
  

JP Morgan Tr II Large, Cap Growth

   Registered investment company                     56,772   
  

JP Morgan Tr II Small Cap Value Fund

   Registered investment company                     3,936   
  

Kalmar Pooled Invt Tr Small Cap

   Registered investment company                     56,852   
  

Keeley Small Cap Value Fund

   Registered investment company                     94,166   
  

Kinetics New Paradigm Fund

   Registered investment company                     13,749   
  

Large Cap Value

   Registered investment company                     96,364   
  

Laudus Tr Growth Large Cap Growth Fund

   Registered investment company                     173,364   
  

Laudus Tr Mondrian Intl Govt Fixed Income

   Registered investment company                     8,522   
  

Lazard Funds Inc Dev Mkts Equity Port Open Shs

   Registered investment company                     3,712   
  

Lazard Funds Inc Emerging Markets Fund

   Registered investment company                     15,185   
  

Lazard Funds Inc Emerging Markets Fund Equity Port Open Shs

   Registered investment company                     149,380   
  

Lazard Funds Inc Intl Small Cap Fund

   Registered investment company                     3,228   
  

Lazard Funds Inc Intl Strategic Equity

   Registered investment company                     15,242   
  

Lazard Funds Inc Realty Equity Portfolio Open

   Registered investment company                     11,508   
  

Lazard Funds Inc Realty Income Portfolio Open

   Registered investment company                     16,844   
  

Legg Mason Invt Tr Opportunity

   Registered investment company                     22,943   
  

Legg Mason Global Ast Mgmt Tr

   Registered investment company                     156,518   
  

Legg Mason Partners Equity Tr Clearbridge Small Cap Growth

   Registered investment company                     3,879   
  

Litman Gregory Funds Tr Masters Alternative Strategies

   Registered investment company                     59,324   
  

Loomis Sayles Bond Fund

   Registered investment company                     360,545   
  

Loomis Sayles Funds II CL A

   Registered investment company                     11,432   
  

Loomis Sayles Invt Tr Small Cap Value Fund

   Registered investment company                     38,342   
  

Loomis Sayles Invt Tr Global Bond Fund

   Registered investment company                     8,297   
  

Lord Abbet High Yield Fund CL A

   Registered investment company                     48,613   
  

Lord Abbet Invt Tr Fltg Rate Fund CL A

   Registered investment company                     41,791   
  

Lord Abbet Invt Tr Multi-asset Income Fund CL A

   Registered investment company                     13,715   
  

Mainstay Funds Global High Income Fund CL A

   Registered investment company                     2,656   
  

Mainstay Funds Tr Marketfield Fund CL A

   Registered investment company                     12,537   
  

Mainstay ICAP International

   Registered investment company                     38,262   
  

Mainstay ICAP Select Equity

   Registered investment company                     28,303   
  

Mairs and Power Growth Fund

   Registered investment company                     53,864   
  

Managers AMG - 2Y1SAM1

   Registered investment company                     552,615   
  

Managers AMG - 2Y1UAQ1

   Registered investment company                     43,724   
  

Managers AMG - 2Y1AA21

   Registered investment company                     5,182   
  

Managers AMG - 2Y1RAK1

   Registered investment company                     337,633   
  

Managers Funds Real Estate Secs Fund

   Registered investment company                     28,857   
  

Manning & Napier Fund Inc New Equity Ser Fund

   Registered investment company                     11,994   
  

Manning & Napier Fund Inc New Intl Ser CL S

   Registered investment company                     13,594   
  

Manning & Napier Fund New World Opportunities

   Registered investment company                     179,277   
  

Manning & Napier Fund Real Estate Series

   Registered investment company                     13,213   
  

Marisco Invt Fund Flexible Cap Fund

   Registered investment company                     131,790   
  

Marisco Invt Fund Focus Fund

   Registered investment company                     191,966   
  

Marsico Invt Growth Fund

   Registered investment company                     7,932   
  

Marsico lnvt Fund 21st Century Fund

   Registered investment company                     69,839   
  

Matthew 25 Fund

   Registered investment company                     54,752   
  

Matthews Asian Funds Asia Dividend

   Registered investment company                     55,106   
  

Matthews Intl Funds Asian Sci & Technology

   Registered investment company                     8,159   
  

Matthews Intl Funds Asia Growth & Income

   Registered investment company                     343,780   
  

Matthews International Funds China Fund

   Registered investment company                     109,912   
  

Matthews International Funds Pac Tiger Fund

   Registered investment company                     149,624   
  

Matthews International Funds India Fund

   Registered investment company                     27,203   
  

Merger Sh Ben Int

   Registered investment company                     3,019   
  

Meridian Fund Inc Com Open End Fund

   Registered investment company                     158,262   
  

Meridian Fund Inc Value Fund

   Registered investment company                     49,967   
  

Metropolitan West Funds Total Return Bond Fund

   Registered investment company                     248,833   
  

MFS Emerging Markets Debt Fund CL 1

   Registered investment company                     17,651   
  

MFS Intl New Discovery Fund CL A

   Registered investment company                     10,755   
  

MFS New Discovery Fund

   Registered investment company                     22,227   
  

MFS Ser Tr Emerging Markets Debt Fund

   Registered investment company                     349,144   
  

MFS Utils Fund

   Registered investment company                     95,035   
  

Morgan Stanley Institutional Mid Cap Growth

   Registered investment company                     121,267   
  

Morgan Stanley Instl Fund Inc Cap Growth Port CL A

   Registered investment company                     64,065   
  

Morgan Stanley Instl Fund Inc Small Co Growth Portfolio

   Registered investment company                     8,286   
  

Motley Fool Tr Great America Fund

   Registered investment company                     30,760   
  

Mutual Fund Ser Tr Catalyst Small Cap Insider Buying Fund

   Registered investment company                     27,216   
  

Mutual Fund Ser Tr Eventide Gilead Fund Retail CL

   Registered investment company                     1,901   
  

Mutuals Com USA Mutuals Barrier Fund

   Registered investment company                     1,577   
  

Needbam Funds Income Growth Fund

   Registered investment company                     49,938   
  

Neuberger & Beman Equity Funds Genesis Fund

   Registered investment company                     27,019   
  

Neuberger Berman Equity Assets Genesis Assets

   Registered investment company                     88,221   
  

Neuberger Berman Equity Multi Cap Opportunities Fund CL A

   Registered investment company                     2,323   
  

Neuberger Berman Equity Funds Real Estate Fund

   Registered investment company                     4,645   
  

Neuberger Berman Equity Funds Small Cap Growth Fund CL A

   Registered investment company                     8,808   
  

Neuberger Berman Equity Funds Small Cap Growth Fund Inv CL

   Registered investment company                     247,881   
  

Neuberger Berman Large Cap Value

   Registered investment company                     60   
  

New Perspective Fund CL F-I

   Registered investment company                     19,182   
  

Nicholas Fund Inc Cap Stk Open End

   Registered investment company                     9,073   

 

20


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Northern Funds Small Cap Value Fund

   Registered investment company                     105,943   
  

Nuveen Invt Funds Real Estate

   Registered investment company                     35,377   
  

Nuveen Invt Funds Inc Small Cap

   Registered investment company                     7,256   
  

Nuveen Invt Tr V PFD Fund CI A

   Registered investment company                     68,227   
  

Oakmurk Equity & Inc Fund

   Registered investment company                     436,060   
  

Oakmark Fund

   Registered investment company                     465,137   
  

Oakmark Global Fund

   Registered investment company                     94,675   
  

Oakmark Select Fund

   Registered investment company                     185,454   
  

Oberweis Funds China Oppty Fund

   Registered investment company                     13,930   
  

Oberweis Funds Intl Opptys Fund

   Registered investment company                     5,029   
  

Oppenheimer Developing Markets CL A

   Registered investment company                     369,120   
  

Oppenheimer Developing Markets CL Y

   Registered investment company                     25,083   
  

Oppenheimer Global Growth & Income

   Registered investment company                     7,167   
  

Oppenheimer Intl Growth Fund CL A

   Registered investment company                     36,906   
  

Paradigm Funds Value

   Registered investment company                     12,433   
  

Parnassus Fund

   Registered investment company                     16,758   
  

Parnassus Inc Tr Core Eqty Fund

   Registered investment company                     507,110   
  

Payden & Rygel Invt Group Emerging Mkts Bond Fund

   Registered investment company                     10,642   
  

Payden & Rygel lnvt Group Emerging Mkts Bond Fund Advisor CI

   Registered investment company                     14,185   
  

Pear Tree Funds Polaris Foreign Value Sm Cap

   Registered investment company                     51,881   
  

Perkins Mid Cap Value

   Registered investment company                     131,622   
  

Perm Portfolio Fund

   Registered investment company                     172,682   
  

Perritt Micro cap Opportunities Fund

   Registered investment company                     17,444   
  

Perritt Funds Inc Ultra Microcap Fund

   Registered investment company                     18,030   
  

Pimco Funds Commodities Plus Strategy CL D

   Registered investment company                     15,224   
  

Pimco Funds Global Advantage Strategy Bond Fund

   Registered investment company                     3,614   
  

Pimco Funds Global Multi-Ast Fund CL D

   Registered investment company                     130,842   
  

Pimco Funds Global Multi-Asset Instl CI

   Registered investment company                     181,597   
  

Pimco Funds Pac lnvt Mgmt Ser Commodity Real Ret Fund

   Registered investment company                     92,168   
  

Pimco Funds Pac Invt Mgmt Ser Short-term Fund CL D

   Registered investment company                     96,493   
  

Pimco Funds Pac Invt Mgmt Ser Emerging Markets Bond Fund

   Registered investment company                     35,925   
  

Pimco Funds Pac Invt Mgmt Ser Fltg Income Fund CL D

   Registered investment company                     165,294   
  

Pimco Funds Pac lnvt Mgmt Ser For Future Issues

   Registered investment company                     24,477   
  

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

   Registered investment company                     358,531   
  

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

   Registered investment company                     66,611   
  

Pimco Funds Pac Invt Mgmt Ser Future Diversified Fund

   Registered investment company                     21,501   
  

Pimco Funds Pac Invt Mgmt Ser Hi Yield Fund

   Registered investment company                     32,041   
  

Pimco Funds Pac Invt Mgmt Ser Low Grade Bond Fund

   Registered investment company                     146,805   
  

Pimco Funds Pac Invt Mgmt Sec Low Duration Fund

   Registered investment company                     121,234   
  

Pimco Funds Pac Invt Mgmt Ser Total Return Fund

   Registered investment company                     715,810   
  

Pimco Funds Pac Invt Mgmt Ser Total Return Fund Instl CL

   Registered investment company                     122,626   
  

Pimco Funds Small Cap Stocks plus AR Strategy

   Registered investment company                     29,202   
  

Pimco Funds Sr Fltg Rate Fund CL D

   Registered investment company                     24,000   
  

Pimco Fundamental Index

   Registered investment company                     71,461   
  

Pimco Income Fund D

   Registered investment company                     227,168   
  

Pimco Income Fund-Ins

   Registered investment company                     106,208   
  

Pimco Real Return Bond Fund

   Registered investment company                     122,508   
  

Pimco Unconstrained Bond Fund

   Registered investment company                     73,471   
  

Pioneer Hi Yield Fund

   Registered investment company                     12,836   
  

Pioneer Ser Tr IV Multi-Ast Inc Fund CL A

   Registered investment company                     154,246   
  

PNC Small Cap Fund-A

   Registered investment company                     13,867   
  

Price T Rowe Growth Stk Fund

   Registered investment company                     37,537   
  

Price T Rowe Global Technology Fund

   Registered investment company                     212,871   
  

Price T Rowe Hi Yield Fund

   Registered investment company                     86,903   
  

Price T Rowe Health Science Fund

   Registered investment company                     178,758   
  

Price T Rowe Retirement Fund 2030FD

   Registered investment company                     33,243   
  

Price T Rowe Retirement Fund 2035FD

   Registered investment company                     2,378   
  

Primecap Odyssey Funds Aggressive Growth Fund

   Registered investment company                     166,205   
  

Primecap Odyssey Funds Growth Fund

   Registered investment company                     56,820   
  

Principal Funds Inc Equity Income Fund

   Registered investment company                     73,879   
  

Principal Funds Inc Global Real Estate CL A

   Registered investment company                     10,866   
  

Principal Funds Inc Small-Midcap Dividend Income Fund

   Registered investment company                     24,382   
  

Professionally Managed Fund Asterick Xupgrader Fund

   Registered investment company                     5,900   
  

Professionally Managed Portfolios Akre Focus Fund

   Registered investment company                     119,158   
  

Professionally Managed Portfolios Becker Value Equity Fund

   Registered investment company                     53,577   
  

Professionally Managed Portfolios Hodges Sm Cap

   Registered investment company                     8,601   
  

Professionally Managed Portfolios Osterweis Strategic Inc

   Registered investment company                     6,046   
  

Profunds Biotechnology Ultrasector

   Registered investment company                     14,308   
  

Profunds Consumer Svcs Ultrasector

   Registered investment company                     2,924   
  

Profunds Internet Ultrasector

   Registered investment company                     4,747   
  

Profunds Ultra Emerging Mkts Fund

   Registered investment company                     1,321   
  

Profunds Ultra Short Small Cap

   Registered investment company                     43,275   
  

Profunds Ultrabear

   Registered investment company                     38,674   
  

Profunds Utils Ultrasector

   Registered investment company                     613   
  

Prudential Invt Portfolios Inc 10 Jennison Equity Income Fund

   Registered investment company                     48,430   
  

Prudential Jennison Mid-Cap Growth

   Registered investment company                     10,453   
  

Prudential Jennison Natural Resources CL A

   Registered investment company                     32,697   
  

Prudential Short-term Corporate Bond Fund

   Registered investment company                     146,747   

 

21


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Putnum Funds Tr Absolute Return 300 CL Y

   Registered investment company                     78,237   
  

Putnum Funds Tr Absolute Return 300 CL A

   Registered investment company                     21,427   
  

Putnum Funds Tr Capital Spectrum Fund CL A

   Registered investment company                     64,599   
  

Putnum Funds Tr Equity Spectrum Fund CL A

   Registered investment company                     14,000   
  

Real Estate Income Fund

   Registered investment company                     31,961   
  

Reynolds Funds Blue Chip Growth

   Registered investment company                     22,378   
  

Ridgeworth Funds High Income

   Registered investment company                     51,055   
  

Ridgeworth Funds Intermediate Bond Fund

   Registered investment company                     1,812   
  

Ridgeworth Funds Seix High Yield Fund

   Registered investment company                     24,129   
  

Riv Rd Divid All Cap Value

   Registered investment company                     7,768   
  

Rowe Price New Era Fund Inc

   Registered investment company                     111,034   
  

Rowe T Price Blue Chip Growth Fund

   Registered investment company                     41,320   
  

Rowe T Price Equity Inc Fund Sh Ben Int Open End

   Registered investment company                     466,621   
  

Rowe T Price Index Tr Income Equity 500 Index Fund

   Registered investment company                     11,797   
  

Rowe T Price Int Latin America Fund

   Registered investment company                     47,340   
  

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

   Registered investment company                     7,442   
  

Rowe T Price Intl Funds Emerging Markets Stock Fund

   Registered investment company                     99,902   
  

Rowe T Price Intl Fund European Stock Fund

   Registered investment company                     21,784   
  

Rowe T Price Intl Funds New Asia

   Registered investment company                     32,015   
  

Rowe’T Price Mid-Cap Growth Fund

   Registered investment company                     36,198   
  

Rowe T Price Pers Strategy Funds

   Registered investment company                     1,281   
  

Rowe T Price Small Cap Fund

   Registered investment company                     15,959   
  

Rowe T Price Spectrum Fund Inc Intl Fund

   Registered investment company                     319,399   
  

Rowe T Price Spectrum Fund Inc Open End Fund

   Registered investment company                     460,519   
  

Rowe T Price Value Fund

   Registered investment company                     14,533   
  

Royce Fund Dividend Value

   Registered investment company                     32,566   
  

Royce Fund Heritage Fund

   Registered investment company                     80,214   
  

Royce Fund Low Priced Stock Fund

   Registered investment company                     39,982   
  

Royce Fund Opportunity Fund

   Registered investment company                     1,139   
  

Royce Fund Pa Mut Fund

   Registered investment company                     34,779   
  

Royce Fund Premier Fund Invt CL

   Registered investment company                     57,406   
  

Royce Fund Premier Fund Svs CL

   Registered investment company                     7,895   
  

Royce Fund Spl Equity Fund

   Registered investment company                     22,913   
  

Royce Fund Total Return Fund

   Registered investment company                     74,498   
  

Royce Fund Total Return Fund Svc CL

   Registered investment company                     12,696   
  

Royce Fund Value Fund

   Registered investment company                     28,386   
  

Royce Fund Value Plus Fund

   Registered investment company                     44,895   
  

RS Invt Fltg Rate Fund CL A

   Registered investment company                     16,915   
  

RS Invt Tr Global Nat Res Fund

   Registered investment company                     85,614   
  

RS Invt Tr Partners Fund

   Registered investment company                     5,518   
  

RS Invt Tr Select Growth Fund CL A

   Registered investment company                     4,928   
  

RS Invt Tr Technology Fund

   Registered investment company                     39,049   
  

Rydex Service Funds Biotechnology Fund

   Registered investment company                     36,680   
  

Rydex Ser Funds S&P Midcap 400 Pure Growth CL H

   Registered investment company                     94,725   
  

Rydex Service Tr URSA Fund

   Registered investment company                     224,009   
  

Salient MF Tr MLP & Energy Infrastructure Fund

   Registered investment company                     66,761   
  

Sands Cap Select Growth Fund CL Z

   Registered investment company                     112,200   
  

Saturna Invt Tr Sextant Intl Fund

   Registered investment company                     16,966   

*

  

Schwab Cap Tr Ast Dir Balanced Growth Fund

   Registered investment company                     2,969   

*

  

Schwab CRP Tr Balanced Fund Inv Shs

   Registered investment company                     1,229   

*

  

Schwab Cap Tr Core Equity Fund

   Registered investment company                     67,383   

*

  

Schwab Cap Tr Dividend Equity Fund

   Registered investment company                     236,670   

*

  

Schwab Cap Tr Finl Svcs Fund

   Registered investment company                     6,594   

*

  

Schwab Cap Tr Fundamental US Large Co Index Fund

   Registered investment company                     121,286   

*

  

Schwab Cap Tr Fundamental Intl Small Co Index

   Registered investment company                     20,414   

*

  

Schwab Cap Tr Fundamental US Small Co Index

   Registered investment company                     6,600   

*

  

Schwab Cap Tr Health Care Fund

   Registered investment company                     104,571   

*

  

Schwab Cap Tr Hedged Equity Fund

   Registered investment company                     10,832   

*

  

Schwab Cap Tr Intl Index Fund

   Registered investment company                     101,127   

*

  

Schwab Cap Tr Large Cap Growth Fund

   Registered investment company                     26,549   

*

  

Scbwab Cap Tr Laudus Intl Market Masters Fund

   Registered investment company                     159,303   

*

  

Scbwab Cap Tr Small Cap Equity

   Registered investment company                     9,903   

*

  

Scbwab Cap Tr S&P 500 Index Fund

   Registered investment company                     864,244   

*

  

Schwab Cap Tr Target 2030 Fund

   Registered investment company                     18,582   

*

  

Schwab Cap Tr Target 2035 Fund

   Registered investment company                     3,667   

*

  

Schwab Cap Tr Turget 2040 Fund

   Registered investment company                     82,965   

*

  

Schwab Charles Family Funds Inv Money Fund

   Registered investment company                     9,040   

*

  

Schwab Family Fund Money Market Fund

   Registered investment company                     3,902,352   

*

  

Schwab Fund Emerging Markets Index

   Registered investment company                     22,578   

*

  

Schwab Funds International Core Equity

   Registered investment company                     33,296   

*

  

Schwab Govt Sec Fund

   Registered investment company                     93,550   

*

  

Schwab Invts Global Real Estate Fund

   Registered investment company                     49,763   

*

  

Schwab Invts 1000 Index Fund

   Registered investment company                     260,316   

*

  

Schwab Small Cap Index Select

   Registered investment company                     99,403   

*

  

Schwab Invts Treas Inflation Protection Secs Fund

   Registered investment company                     19,791   

*

  

Schwab Total Bond Mkt Index Fund

   Registered investment company                     11,432   

*

  

Schwab Total Stock Market Index Fund

   Registered investment company                     550,608   
  

Scout Funds Mid Cap Fund

   Registered investment company                     293,388   

 

22


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, 2014

 

 

(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 Investments    Interest    Year    Month    Value    Cost (1)    Value  
  

Scwartz Invt Tr Ave Maria Rising Dividend Fund

   Registered investment company                     27,466   
  

Selected Amer Sh Inc Cap Sik Fund

   Registered investment company                     289,807   
  

Sequoia Fund Inc Com

   Registered investment company                     121,348   
  

Short Nasdaq 100Inv

   Registered investment company                     28,844   
  

SIT Mutual Funds Inc Small Cap Growth Fund

   Registered investment company                     51,740   
  

Small Cap Fund

   Registered investment company                     113,157   
  

Small Cap World Fund CL F-1

   Registered investment company                     50,219   
  

Sound Shore Fund Inc

   Registered investment company                     15,546   
  

Spartan Extd Mkt Index Fund

   Registered investment company                     24,911   
  

SSGA Emerging Mkt Fund

   Registered investment company                     21,914   
  

SSGA International Stock Selection Fund

   Registered investment company                     38,065   
  

Sterling Cap Funds Sterling Capital Equity Income Fund CL A

   Registered investment company                     16,586   
  

Sunamerica Focused Ser Inc Dividend Strategy

   Registered investment company                     41,060   
  

T Rowe Price Cap Appreciation Fund

   Registered investment company                     272,626   
  

T Rowe Price Finl Svcs Fund

   Registered investment company                     5,350   
  

T Rowe Price Global Real Estate Fund

   Registered investment company                     16,587   
  

TCW Funds Inc Emerging Markets Inc Fund

   Registered investment company                     17,259   
  

TCW Funds Inc Formerly TCW Galileo Emerging Markets

   Registered investment company                     31,310   
  

TCW Galileo Funds Inc Dividend Focused Fund

   Registered investment company                     20,188   
  

TCW Galileo Funds Inc Select Equities Fund

   Registered investment company                     42,270   
  

TCW Galileo Funds Inc Small Cap Growth Fund

   Registered investment company                     6,620   
  

TCW Galileo Funds Inc Total Return Bond Fund

   Registered investment company                     101,388   
  

TCW Total Return Bond Fund CL 1

   Registered investment company                     114,408   
  

Templeton Income Tr Global Bond Fund

   Registered investment company                     55,800   
  

Templeton Tr Global Bond Fund

   Registered investment company                     162,572   
  

Teton Westwood Equity Fund Mighty Mites

   Registered investment company                     60,885   
  

TFS Cap Invt Tr Market Neutral Fund

   Registered investment company                     16,660   
  

Third Avenue Tr Real Estate Value Fund

   Registered investment company                     65,392   
  

Third AvenueTr Value Tr Fund

   Registered investment company                     70,314   
  

Thomas White Intl Fund

   Registered investment company                     27,366   
  

Thornburg Intl Value Fund

   Registered investment company                     62,942   
  

TIAA-CREF Mutual Fund

   Registered investment company                     5,925   
  

TIAA-CREF Mutual Funds Growth & Income

   Registered investment company                     2,808   
  

Tocqueville Gold Fund

   Registered investment company                     75,184   
  

Tocqueville Tr Delafield Fund

   Registered investment company                     714   
  

Tocqueville Tr Fund

   Registered investment company                     29,942   
  

Touchstone Tr Mid Cap Fund CL Z

   Registered investment company                     5,561   
  

Touchstone Tr Sands Cap Select Growth

   Registered investment company                     209,808   
  

Touchstone Strategic Tr Value Fund CL Y

   Registered investment company                     23,329   
  

Transamerica Diversified Equity

   Registered investment company                     78,392   
  

Trust for Professional Managers Jensen Quality Value Fund

   Registered investment company                     5,706   
  

Trust for Professional Managers Smead Value

   Registered investment company                     63,455   
  

Turner Funds Midcap Fund

   Registered investment company                     70,392   
  

Turner Funds Small Cap Growth Fund

   Registered investment company                     3,949   
  

Tweedy Browne Fund Inc Global Value Fund

   Registered investment company                     67,469   
  

US Global Accolade Funds Eastn European Fund

   Registered investment company                     12,723   
  

US Global Investors Funds

   Registered investment company                     13,898   
  

Ultra NASDAQ 100

   Registered investment company                     5,058   
  

Ultra Short NASDAQ 100

   Registered investment company                     44,820   
  

USGI Wold Precious Mineral Fund

   Registered investment company                     5,727   
  

Value Line Inc Fund

   Registered investment company                     10,607   
  

Value Line Small