NIKE operates a foreign currency adjustment program with certain factories where payments are adjusted for rate fluctuations in the basket of currencies in which labor, materials and overhead costs are denominated
A strengthening U.S. Dollar against the foreign currencies within the factory currency exposure indices reduces NIKE's U.S. Dollar inventory cost
The NIKE Trading Company (NTC), a wholly-owned sourcing hub, buys NIKE branded products from third-party factories predominantly in U.S. Dollars and sells to NIKE entities in their respective functional currencies
The filing states hedges may be entered 12 to 24 months in advance of the forecasted transaction
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.