Summary by Futu AI
Nike's 401(k) Savings and Profit Sharing Plan reported net assets of $5.9 billion as of May 31, 2024, up from $5.2 billion in 2023. The increase was driven by a net investment income of $707 million and total contributions of $444 million. Benefits paid to participants amounted to $439 million.The plan's investments, valued at $5.8 billion, include common stock, self-directed brokerage accounts, and collective trust funds. The plan's assets are participant-directed, with a significant portion invested in Nike's Class B common stock.The plan is managed by the Retirement Investment Committee and overseen by the Senior Director, Global Benefits. The plan's financial statements were audited by Crowe LLP, which confirmed their compliance with U.S. GAAP.