NIKE (NKE) 8-K Nike, Inc. Recasts Segment Financials In Connection with the Consumer Direct Offense

NIKE, Inc.
SUPPLEMENTAL NIKE BRAND GEOGRAPHY REVENUE DETAILS1
(Unaudited)
					% Change		% Change Excluding Currency Changes2						% Change		% Change Excluding Currency Changes2						% Change		% Change Excluding Currency Changes2						% Change		% Change Excluding Currency Changes2						% Change		% Change Excluding Currency Changes2
	1st Quarter								2nd Quarter								3rd Quarter								4th Quarter								Full Year
(Dollars in millions)	2017		2016						2017		2016						2017		2016						2017		2016						2017		2016
North America
Sales to Wholesale Customers	$	2,824	$	2,749	3	%	3	%	$	2,637	$	2,678	-2	%	-1	%	$	2,650	$	2,597	2	%	2	%	$	2,645	$	2,650	0	%	0	%	$	10,756	$	10,674	1	%	1	%
Sales through NIKE Direct	1,207		1,050		15	%	15	%	1,013		869		17	%	17	%	1,132		1,086		4	%	4	%	1,108		1,085		2	%	2	%	4,460		4,090		9	%	9	%
Total	4,031		3,799		6	%	6	%	3,650		3,547		3	%	3	%	3,782		3,683		3	%	3	%	3,753		3,735		0	%	1	%	15,216		14,764		3	%	3	%
Europe, Middle East & Africa
Sales to Wholesale Customers	1,733		1,686		3	%	6	%	1,313		1,329		-1	%	3	%	1,428		1,434		0	%	4	%	1,443		1,420		2	%	7	%	5,917		5,869		1	%	5	%
Sales through NIKE Direct	529		418		27	%	30	%	479		378		27	%	33	%	497		419		19	%	25	%	548		484		13	%	20	%	2,053		1,699		21	%	27	%
Total	2,262		2,104		8	%	11	%	1,792		1,707		5	%	10	%	1,925		1,853		4	%	9	%	1,991		1,904		5	%	11	%	7,970		7,568		5	%	10	%
Greater China
Sales to Wholesale Customers	695		634		10	%	15	%	673		657		2	%	6	%	703		672		5	%	10	%	703		660		7	%	11	%	2,774		2,623		6	%	11	%
Sales through NIKE Direct	325		252		29	%	37	%	382		281		36	%	42	%	372		310		20	%	27	%	384		319		20	%	26	%	1,463		1,162		26	%	32	%
Total	1,020		886		15	%	21	%	1,055		938		12	%	17	%	1,075		982		9	%	15	%	1,087		979		11	%	16	%	4,237		3,785		12	%	17	%
Asia Pacific & Latin America
Sales to Wholesale Customers	887		871		2	%	11	%	936		894		5	%	9	%	837		790		6	%	10	%	971		856		13	%	12	%	3,631		3,411		6	%	10	%
Sales through NIKE Direct	244		212		15	%	20	%	270		213		27	%	23	%	285		242		18	%	18	%	307		239		28	%	25	%	1,106		906		22	%	21	%
Total	1,131		1,083		4	%	12	%	1,206		1,107		9	%	11	%	1,122		1,032		9	%	11	%	1,278		1,095		17	%	15	%	4,737		4,317		10	%	13	%
Global Brand Divisions3	15		26		-42	%	-30	%	21		18		17	%	17	%	19		17		12	%	12	%	18		12		50	%	68	%	73		73		0	%	2	%
TOTAL NIKE BRAND REVENUES	$	8,459	$	7,898	7	%	10	%	$	7,724	$	7,317	6	%	8	%	$	7,923	$	7,567	5	%	7	%	$	8,127	$	7,725	5	%	7	%	$	32,233	$	30,507	6	%	8	%
TOTAL NIKE BRAND
Sales to Wholesale Customers	$	6,139	$	5,940	3	%	6	%	$	5,559	$	5,558	0	%	2	%	$	5,618	$	5,493	2	%	5	%	$	5,762	$	5,586	3	%	5	%	$	23,078	$	22,577	2	%	5	%
Sales through NIKE Direct	2,305		1,932		19	%	22	%	2,144		1,741		23	%	25	%	2,286		2,057		11	%	13	%	2,347		2,127		10	%	12	%	9,082		7,857		16	%	18	%
Global Brand Divisions3	15		26		-42	%	-30	%	21		18		17	%	17	%	19		17		12	%	12	%	18		12		50	%	68	%	73		73		0	%	2	%
TOTAL NIKE BRAND REVENUES	$	8,459	$	7,898	7	%	10	%	$	7,724	$	7,317	6	%	8	%	$	7,923	$	7,567	5	%	7	%	$	8,127	$	7,725	5	%	7	%	$	32,233	$	30,507	6	%	8	%
1 Certain prior year amounts have been recast to conform to fiscal 2018 presentation. This includes recast operating segment data to reflect the changes in the Company's operating structure, which became effective June 1, 2017. These changes had no impact on previously reported consolidated results of operations or shareholders' equity.
2 The percentage change has been calculated using actual exchange rates in use during the comparative prior year period to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure.
3 Global Brand Divisions revenues are primarily attributable to NIKE Brand licensing businesses that are not part of a geographic operating segment.