Question

Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant assets $935.0, land $220.0, patents and trademarks (at cost) $510.0, machinery and equipment $2,160.0, buildings $980.0, goodwill (at cost) $210.0, accumulated amortization $50.0, and accumulated depreciation $2,200. Prepare a partial balance sheet for Nike for these items.

Answer 1

NIKE, INC.

Partial Balance Sheet as of May 31, 2022

(in millions)

Property, Plant and Equipment

Land $220.0

Buildings $980.0

Machinery and Equipment $2160.0

Other Plant Assets $935.0

Less: Accumulated Depreciation $2200.0 $1875.0

Total Property, Plant and Equipment $2095.0

Intangible Assets:

Goodwill $210.0

Patents and Trademarks $510.0

Less: Accumulated Amortization $50.0 $460.0

Total Intangible Assets $670.0