TABLE OF CONTENT

CHAPTER-1

Introduction:

1.1Objective of the study

1.2Need of study
1.3Scope of the study
1.4Limitations of study

CHAPTER-2

Research methodology:

2.1Definitions and meaning

2.2Hypothesis
• Null hypothesis
• Alternative hypothesis
2.3Tests of Analysis

CHAPTER-3

3.1 Company profile

CHAPTER-4

4.1 Data analysis and interpretation

CHAPTER-5

5.1 Findings
Bibliography
 Chapter - I

Introduction:
I felt that i had to analyze the day to day to functions of an organization . The main
factors i want to analyze is its vision , mission statement of the organization and
its goals. I also explore the various departments of the organization and their way
to tackle the problem by making the right
decision.

Thus my company analysis presents the various perspectives the

company which made a detailed analysis towards the various products and
the material from NIKE pvt. ltd . This analysis report helped me to understand the
various new significant process. The analysis is all about the complete information
about the models of the products of the company. This analysis is a mixture of
various components that provide the valuable information about the one of the
best multi national company NIKE pvt. Ltd is renowned for its footwear which is
not an exception in India too.

It is a well known fact that Nike products have worldwide popularity there
will be continuous demand for the quality of products they produce. So they had
taken many measurements to keep the quality of the product as per the aspiration
of their consumers , and thus showing that Nike Pvt. Ltd. is aware about their
corporate social responsibility . The company future will be on the brighter side
only in present market scenario because of people always be passionate to wear
new styles and reaching the needs of sportsmen , where Nike is always first to do
it.
Objectives of the study :

 The first and most important objective was to explore and synthesize the
information about the products in the footwear

 The primary objective is to study the perception of Nike towards

 consumer demands and faith in about the company

 The secondary objective are as follows :

a. To know who or which factors play a key role in making decision

in purchase raw materials and selling methodology.

b. Brand awareness of Nike Across the world

c. Various factors that influence the sales of the Nike products

1.2 Needs of study

 As a student of Business Administration a need is felt to
understand the Overview of an Organization in its Financial, Marketing and
Human resource Performance examining the overview of the factors which will
help a student like me to gain insight in the mission , vision and operational goals
and strategies of Organizational to perform well to the satisfaction of its stake
holders.

1.3 scope of study :

 The initial marketing effort was simple in its scope. Knight sold the

company's shoes out of the trunk of his car.

 The initial market was collegiate, distance runners, who Knight accessed by

driving around the country from university to university. From these humble
beginnings Nike has developed into the dominant force in athletic apparel on
a world-wide scope.

Limitations of nike company:

 The data is collected from secondary source due to lack of time for preparing
the project.
 The data is not 100% accurate.
 The duration of the study was limited and hence elaborate and
comprehensive project survey was not undertaken.
 The personal biases of the respondents might have entered into their
response.
 Because of a small period of time only small sample had to be considered
which doesn’t actually reflect and accurate picture.
 Chapter - II

2.1 Meaning:
Research methodology typically involves a full breakdown of all the options that
have been chosen by a company in order to investigate something.
This would include the procedures and techniques used to
perform the research; as well as any of the terminology and explanations of how
these methods will be applied effectively.

A company may need to decide what format of research they want to use before the
investigation begins. For example, if a company that sells a particular product
needs to launch research to find out how effective or desirable a new product is,
they will need to conduct what is known as primary research.
This method means that the company will collect data and
information themselves first hand.

Definition:

“Procedures used in making systematic observations or Other

wise obtaining data, evidence, or information as part of a research
project or study” Is being undertaken within a framework of a set of philosophies
(approaches) Uses procedures, methods and techniques that have been tested for
Their Validity and reliability Is designed to be unbiased and objective.

Sources of data
1. Primary data:

Primary data is gathered for a specific purpose. for example a company might a
specific own customers directly to find out more about their buying habits, Primary
data means data you get by yourself through experiment or other ways. Primary
data is collect information.

2. Secondary data:

The data collected by someone other than the user. Common sources of secondary
data for social science include censuses, surveys, organizational records and data
collected through qualitative methodologies or qualitative research. Primary data,
by contrast, are collected by the investigator conducting the research.

Secondary data analysis saves time that would otherwise be spent collecting data
and, particularly in the case of quantitative data, provides larger and higher-quality
databases than would be unfeasible for any individual researcher to collect on their
own. In addition to that, analysts of social and economic change consider
secondary data essential, since it is impossible to conduct a new survey that can
adequately capture past change and/or developments.

2.2 Hypothesis

Hypothesis testing means subjecting a hypothesis to appropriate empirical scrutiny

and statistical test to determine its validity. A researcher has to do a number of
things as pre requirements for testing a hypothesis. Hypothesis testing is two types
that are
 1. null hypothesis(H0)
2. alternative hypothesis (Ha)

1)Null hypothesis (Ho):

A type of hypothesis used in statistics that proposes that no statistical
significance exists in a set of given observations. The null hypothesis attempts to
show that no variation exists between variables, or that a single variable is no
different than zero. It is presumed to be true until statistical evidence nullifies it for
an alternative hypothesis.

2)Alternative hypothesis (Ha):

Alternative hypothesis is the "hypothesis that the restriction or set of
restrictions to be tested does NOT hold." Often denoted H1. Epidemiology A
hypothesis to be adopted if a null hypothesis proves implausible, where exposure is
linked to disease. See Hypothesis testing.The null hypothesis is specifically
formulated for testing for possible rejection or nullification. Hence the name null
hypothesis. It is accompanied by an alternative hypothesis.

2.3 Test of analysis

T-test:
The t-test was developed by W.S.Gosset around 1915.since he published his
finding under a pen name student, it is known as student’s t-test. It is suitable for
testing the significance of a sample mean or for judging the
significance of difference between the means of two samples,
when the samples are less than 30 in number and when the
population variance is not known. When two samples are related,
the paired t- test is used. The t-test can be used for testing the
significance of the coefficients and partial correlations.

Formula:

chi-square test :
It is used to make comparisons between two or more nominal variables. Unlike the
other tests of significance, the chi-square is used to make comparisons between
frequencies rather than between mean scores.
Formula
Chapter-III
NIKE INTRODUCTION

Nike, Inc. is a major publicly traded sportswear and equipment supplier based in
the United States. The company is headquartered near Beaverton, Oregon, which is
part of the Portland metropolitan area. It is the world's leading supplier of athletic
shoes and apparel and a major manufacturer of sports equipment with revenue in
excess of US$18.6 billion in its fiscal year 2008 (ending May 31, 2008). As of
2008, it employed more than 30,000 people worldwide. Nike and Precision Cast
parts are the only Fortune 500 companies headquartered in the state of
Oregon according to The Oregonian.

The Nike company began in 1964 as Blue Ribbon Sports, was founded by
University of Oregon track athlete Phil Knight and his coach Bill Bower man, first
distributing Japanese brand of running shoes in the USA. 1972 was the first year of
using the famous mark known as the Swoosh on Nike's first line of footwear. The
rest is history. Nike products are well received in practically every sport venue -
tennis - first represented by Ilie Nastase and John McEnroe and now by Rafael
Nadal, golf with Tiger Woods, basketball Air Force One and Nike Air Jordan
represented by Michael Jordan, etc.

The Nike company has been taking an active and leading role in supporting,
sponsoring and organizing sports events, like Nike Prefontaine Classic, Nike is
also the official sponsor for the Indian cricket team, sponsors famous
soccer clubs such as Arsenal, Manchester United, Barcelona, Valencia,
Inter Milan and Juventus, various minor events including Hoop It Up (high
school basketball) and The Golden West Invitational (high school track and field).

According to Wikipedia - Nike sells an assortment of products, including shoes and

apparel for sports activities like association football, basketball, running, combat
sports, tennis, American football, athletics, golf and cross training for men, women,
and children. Nike also sells shoes for outdoor activities such as tennis, golf,
skateboarding, association football, baseball, American football, cycling,
volleyball, wrestling, cheerleading, aquatic activities, auto racing and other athletic
and recreational uses. Nike is well known and popular in Youth culture, Chav
Culture and Hip hop culture as they supply urban fashion clothing. Nike recently
teamed up with Apple Inc. to produce the Nike+ product which monitors a runner's
performance via a radio device in the shoe which links to the iPod nano.

HISTORY

Bill Bowerman and Phil Knight founded Nike Inc. as Blue Ribbon Sports in 1962.
The partners began their relationship at the University of Oregon where Bowerman
was Knight’s track and field coach. While attending Stanford University, Knight
wrote a paper about breaking the German dominance of the U.S. athletic shoe
industry with low-priced Japanese shoes. In an attempt to realize his theory, Knight
visited Japan and engineered an agreement with the Onitsuka Tiger company, a
manufacturer of quality athletic shoes, to be their sole distributor in the
UnitedStates.
\
In 1962, Knight received the first shipment of 200 pairs of Tiger shoes to his
parent’s garage in Oregon. The shoes were bought by Blue Ribbon Sports (BRS),
the name of the partnership between Knight and Bowerman that they formed with
only $1,000 in capital. Knight peddled Tiger’s shoes at local track meets grossing
$8,000 of sales in their first year. In 1966, Bowerman, who had previously
designed shoes for his university athletes,

worked with Tiger to design the Cortez running shoe. The shoe was a worldwide
success for the Onitsuka Tiger Company and was sold at the first BRS store. In
1971, BRS, with creditor support, started manufacturing their own line of shoes.
Later that year, the first BRS shoe was introduced. The shoe was a soccer shoe that
bore the Nike brand name, referring to the Greek Goddess of Victory, and the
Swoosh trademark. A student designed the Swoosh trademark for a paltry fee of
$35. The Swoosh was meant to symbolize a wing of the Greek Goddess.
1972 marked the breakup of the BRS/Tiger relationship. BRS soon changed its
name to Nike, Inc. and debuted itself at the 1972 Olympic trials. In 1973, Steve
Prefontaine was the first prominent track star to wear Nike shoes. The late 70’s and
early 80’s also saw John McEnroe, Carl Lewis, and Joan Benoit sporting Nike
shoes. Nike popularity grew so much that in 1979 they claimed 50% of the U.S.
running market. A year later with 2,700 employees,
Objectives of the study

Nike’s marketing objective is to employ a range of marketing communication

tactics that can cater to the organization’s target market, who have different
nationalities, genders, cultures, and ages. To enable this, Nike introduces its latest
products through a marketing communication group that can strengthen the
“positioning of, and key messages about, the Nike brand,” through different forms
of visual aids and point-of-purchase advertising. In connection to this, Nike
continuously aims to apply marketing tactics that are appropriate with the people
who reside in these continents or nations. For example, aside from traditional
advertising in the form of television, billboards, and the like, Nike also makes use
of contemporary marketing instruments such as the internet, wherein people in
almost any part of the world could access various sites to customize Nike shoes
and products. Moreover, Nike applies an effective marketing communication and
at the same time still relatively manages to be cost-effective in terms of its
marketing programs. Although Nike’s marketing expenses may seem excessive,
they employ internationally recognized
celebrity athletes; they overflow retail networks with promotions of products
and other giveaways. According to Knight and Greenberg (2002, pg 548), the
integration of endorsements and sponsorships enables Nike to represent itself as a
socially concerned actor promoting sport as a solution to social problems.The
company’s campaign theme is JUST DO IT. The Campaign will target men and
woman and especially those in the basketball scene that are of 14 to 30 years of
age. Nike sprint shoes are not only good shoes to wear but are strong, durable and
comfortable, this way, the company will convince them to take action. The
campaign will also exist as billboards; through celebrity endorsements like
Michael Jordan and James Lebron.The Company will also use electronic media
(commercials, official website of Nike and newspapers) to promote the...

scope of studay:
The initial marketing effort was simple in its scope. Knight sold the
company's shoes out of the trunk of his car. The initial market was collegiate,
distance runners, who Knight accessed by driving around the country from
university to university. From these humble beginnings Nike has developed into
the dominant force in athletic apparel on a world-wide scope.

BEAVERTON, United States — By 2011, Nike will have improved labor

conditions at all its factories worldwide, be a climate-neutral company, and
reduced the waste from its products by 17 percent, according to new goals the
company announced today.
Nike released its Corporate Responsibility Report for fiscal 2005 and 2006
yesterday, and a major element of the report focuses on how the company can more
deeply integrate CSR goals into its long-term business strategies.
"We see corporate responsibility as a catalyst for growth and innovation" said
Nike CEO Mark Parker. "It is an integral part of how we can use the power of our
brand, the energy and passion of our people, and the scale of our business to create
meaningful change."
On the labor side, Nike plans to eliminate excessive overtime in all its contract
factories worldwide by 2011. Citing excessive overtime as one of the biggest labor
compliance issues the industry faces, Nike said it has set a high priority on that and
other working conditions for its nearly 800,000 contract factory workers. Nike also
released the guidelines and benchmarks the company uses to audit and evaluate
factories. The tools are posted on NikeResponsibility.com, and include an
extensive list of questions and guidance for maintaining the safety and
environmental quality of its contract factories. The company also announced that it
would make all its facilities, retail stores and its business travel climate
neutral by 2011. This announcement follows a previous goal to reduce
emissions by joining the World Wildlife Fund's Climate Savers program. Nike said
it has exceeded its CO2 emissions-reduction targets over the last two years through
the program. The climate commitment extends to the gases involved in its Nike Air
products the company has already ceased using fluorinated gases in all its products.
Waste reduction goals make up a big chunk of yesterday's announcement. Nike
said it will redesign all its branded products -- including more than 225 million
pairs of shoes sold every year -- to meet its 2011 baseline goal of reducing
footwear waste by 17 percent and reducing packaging waste by 30 percent. Nike
also said it would invest $215 million more into community based sports inititives
that it says can change young peoples' lives. The money, on top of the $100 million
the company has already invested in such initiatives, will cover
everything from building and upgrading sports facilities and playgrounds around
the world to "spreading the joy of soccer" across the U.S.
In addition to these business targets, Nike announced yesterday that it will
continue its commitment to supply chain transparency by updating public
disclosure of the more than 700 contract factories worldwide producing Nike
product. In 2005, Nike was the first company in its industry to disclose its factory
base to encourage industry transparency and collaboration.
Corporate social responsibilities

The CSR concept in the US has been defined in terms of a philanthropic model.
Such model illustrates the unhindered generation of profits of the companies and
the donation of a particular percentage of the profit to charitable causes. While the
philanthropic approach to CSR is an important measure to increase the capacity of
its stakeholders, it is not considered as a positive contribution to the society.

The Boston College Center for Corporate Citizenship (BCCC) has conducted a
global survey on CSR. An interesting aspect of the study is directed into learning
the best way for corporations to provide a positive contribution to society. Findings
reflect that the most appropriate form is developing healthier, safer
products/services, actively working to solve a specific social issue. Donating
money to charities ranked the lowest among the perceived ways to impart a
positive contribution. Thus, while the corporation has been providing significant
financial contributions to the University Oregon, such act remains far from being
sustainable and as Nike has efficiently demonstrated, can be easily retracted.

A principle-based approach to CSR should be adapted by Nike, Inc. Unlike its

previous CSR strategies, Nike’s CSR initiatives must be sustainable and should be
viewed as an essential aspect of the process of wealth creation. Abiding by the
principles of CSR will allow Nike to earn the trust of its stakeholders, enabling the
company to maximize the value of investments in the CSR field

Awards and recognition

March 21, 2011

OCF Grant Recipients Announced

Nike announces second round of recipients for OCF Nike Employee Grant Fund
Awards.
January 08, 2007

Fortune Lists Nike in "100 Best Companies To Work For"

November 09, 2006

Nike Named Top 10 for Social Responsibility Reporting

October 18, 2006

Nike Named One of the Country's Best Workplaces for Commuters

The Company is Ranked in the Top 20 of Fortune 500 Companies for the Third-
Consecutive Year For its Alternative Commuting Program.
Competitors
 STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS
Strengths:
Brand Equity
 Nike is able to command higher margins because of strong brand equity. Nike’s
aggressive marketing campaigns show that the best athletes in the world use Nike
products. Along with the highest quality of products, Nike has a unique image and
style that differentiates itself from competitors. Nike’s brand equity certainly wins
the hearts of many consumers, allowing for considerable amounts of recurring
revenues.

Global presence
 Nike has diversified its geographic operations and sells in more than 170
countries. By doing so, Nike achieves economies of scale in manufacturing and
distribution, as well as mitigating risk among individual economies.

Diverse line of products

 Along with the Nike brand, the Company wholly-owns five subsidiaries each
specializing in unique product markets, which mitigates risk among brands.
Weaknesses:
Currency exposure
 As a global company, Nike runs the risk of adverse fluctuations of exchange
rates. The Company uses a hedging strategy designed to eliminate foreign
exchange risks, but also limits upside potential.

Decreasing United States market share

 The United States is the largest and most saturated market that Nike operates in.
The Company has been directing efforts on expanding into emerging markets, and
as a result is losing US market share. Since the US is the largest market, a loss in
market share may result in substantial revenue losses to Nike.

Opportunities:
Expansion into emerging markets
 Nike understands that emerging markets provide enormous growth
opportunities, provided that the Company has a presence in these markets before
this growth occurs. Nike is adamant in entering emerging markets before they have
“emerged” so it can take
13
full advantage of market growth. Nike has realized double digit revenue
growth in China and other Asian Pacific companies, as well as high revenue
growth in the Americas regions in fiscal 2008 and 2009. These markets are not yet
at the point of maturity, so high growth is expected in the near to mid-term future.

Innovation
 The key intangible asset to Nike is innovation. It constantly changes product
mixes, marketing campaigns, and geographic presences based on profitability.
Because Nike strives to be a market innovator in several constantly changing
environments, infinite opportunities exist where Nike can gain market share.

Threats:
Revenue relies on consumers’ discretionary income
 As a consumer products company Nike is exposed to consumers’ discretionary
income which is correlated to market cyclicality and interest rates. Decreased
consumer disposable income and sentiment has adversely affected Nike’s
performance during the global economic crisis. Negative macroeconomic events
pose a significant threat to Nike.

Nike's Vision Statement

This section contains the best examples of a vision statement from the most
successful companies in the world. We have provided below the content of the
Nike's Vision Statement which details their vision of the future. An effective and
successful Vision Statement is powerful and compelling, conveying confidence and
inspiring views of the future. The importance of a Vision Statement should not be
underestimated. One good paragraph will describe the values, services and vision
for the future. Whether you are looking to compose a personal Vision Statement or
a company Vision statement our samples and this example of the Nike's Vision
Statement will provide you with some excellent ideas and inspiration.

Nike Mission Statement

We have provided below details of the content of the Nike Mission Statement, one
of the most successful companies in the World.

Members of nike company:

Directors
Philip H Knight "Phil"
Mark G Parker
Charles D Denson
Gary M Destefano
Jeanne Pellegren Jackson
Roger S Wyett
Designation
Chairman
President/CEO
President:Nike Brand
President:Global Operations
President:Direct To Consumer
President:Affiliates
Products:
 BALANCE SHEET

Assets [+]
in Millions of Dollars
05/2011 05/2010 05/2009 05/2008 05/2007

Cash and Equivalents 1,955 3,079 2,291 2,134 1,857

Restrictable Cash - - - - -
Marketable Securities 2,583 2,067 1,164 642 990
Receivables 3,138 2,650 2,884 2,795 2,495
Inventories 2,715 2,041 2,357 2,438 2,122
Prepaid Expenses 594 873 766 602 393
Current Deferred Income Taxes 312 249 272 227 220
Other Current Assets - - - - -
Total Current Assets 11,297 10,959 9,734 8,839 8,076
Gross Fixed Assets 4,906 4,390 4,256 4,103 3,619
Accumulated Depreciation (2,791) (2,458) (2,298) (2,212) (1,941)
Net Fixed Assets 2,115 1,932 1,958 1,891 1,678
Intangibles 487 467 467 743 410
Cost in Excess 205 188 194 449 131
Non-Current Deferred Income Taxes 894 873 897 520 393
Other Non-Current Assets - - - - -
Total Non-Current Assets 3,701 3,460 3,516 3,603 2,612
Total Assets 14,998 14,419 13,250 12,443 10,688

Liabilities [+] in Millions of Dollars

05/2011 05/2010 05/2009 05/2008 05/2007
Accounts Payable 1,469 1,255 1,032 1,288 1,040
Short Term Debt 200 7 32 6 30
Notes Payable 187 139 343 178 101
Accrued Expenses - - - - -
Accrued Liabilities 1,985 1,904 1,784 1,762 1,303
Deferred Revenues - - - - -
Current Deferred Income Taxes - - - - -
Other Current Liabilities 117 59 86 88 109
Total Current Liabilities 3,958 3,364 3,277 3,322 2,584
Long Term Debt 276 446 437 441 410
Deferred Income Tax 921 855 842 854 669
Other Non-Current Liabilities - - - - -
Minority Interest - - - - -
Capital Lease Obligations - - - - -
Preferred Securities of Subsidiary
- - - - -
Trust
Preferred Equity Outside
- - 0 0 0
Shareholders' Equity
Total Non-Current Liabilities 1,197 1,301 1,280 1,296 1,079
Total Liabilities 5,155 4,665 4,556 4,617 3,663
Preferred Shareholder's Equity - - - - -
Common Shareholder's Equity 9,843 9,754 8,693 7,825 7,025
Total Equity 9,843 9,754 8,693 7,825 7,025
Total Liabilities & Shareholder's
14,998 14,419 13,250 12,443 10,688
Equity
 INCOME STATEMENT

Income [+]
in Millions of Dollars
05/2011 05/2010 05/2009 05/2008 05/2007

Operating Revenue 20,862 19,014 19,176 18,627 16,326

Adjustments to Revenue - - - - -
Cost of Revenue (10,996) (9,818) (10,188) (9,918) (8,895)
Gross Operating Profit 9,866 9,196 8,988 8,709 7,431

Selling/General/Admin Expense (6,693) (6,326) (6,150) (5,954) (5,029)

Research & Development - - - - -
EBITDA (Operating Income Before 3,173 2,870 2,838 2,755 2,402
Depreciation)
Depreciation & Amortization (358) (396) (383) (322) (270)
Operating Income 2,815 2,474 2,455 2,434 2,132
Interest Income - - 10 152 67
Other Income, Net 33 49 88 (8) 1
Total Income Before Interest
2,848 2,523 1,956 2,578 2,200
Expense (EBIT)
Interest Expense (4) (6) - (75) -
Income Before Tax 2,844 2,517 1,956 2,503 2,200
Income Taxes (711) (610) (470) (620) (708)
Minority Interest - - - - -
Net Income from Continuing
2,133 1,907 1,487 1,883 1,492
Operations
Net Income from Discontinued
- - - - -
Operations
Net Income from Total Operations 2,133 1,907 1,487 1,883 1,492

Normalized Income 2,133 1,907 2,083 1,883 1,492

Extraordinary Income/Loss - - - - -
Special Income/Charges - - (596) - -
Income from Cum. Effect of Acct
- - - - -
Change
Income from Tax Loss Carryforward - - - - -
Other Gains - - - - -
Total Net Income 2,133 1,907 1,487 1,883 1,492

Results [+] in Dollars (Preferred Dividends in Millions)

05/2011 05/2010 05/2009 05/2008 05/2007

Dividends Paid Per Share 1.16 1.04 0.96 0.83 0.68

Preferred Dividends - - - - -
Basic EPS from Continuing
4.48 3.93 3.07 3.80 2.96
Operations
Basic EPS from Discontinued
0.00 0.00 0.00 0.00 0.00
Operations
Basic EPS from Total Operations 4.48 3.93 3.07 3.80 2.96

Diluted EPS from Continuing

4.39 3.86 3.03 3.74 2.93
Operations
Diluted EPS from Discontinued
0.00 0.00 0.00 0.00 0.00
Operations
Diluted EPS from Total Operations 4.39 3.86 3.03 3.74 2.93
 CASHFLOW SATATEMENT

Cash Flow
in Millions of Dollars 05/2011 05/2010 05/2009 05/2008 05/2007

Net Income 2,133 1,907 1,487 1,883 1,492

Depreciation 335 324 335 304 270
Amortization 23 72 48 18 0
Amortization of Intagibles - - - - -
Deferred Income Taxes (76) 8 (294) (301) 34
Operating Gains/Losses - - - (61) -
Extraordinary Gains/Losses - - - - -
Decrease in Receivables (273) 182 (238) (118) (40)
Decrease in Inventories (551) 285 32 (250) (50)
Decrease in Prepaid Expenses (35) (70) 14 (11) (61)
Decrease in Other Current Assets - - - - -
Increase in Payables 151 297 (220) 331 85
Increase in Other Current Liabilities - - - - -
Decrease in Other Working Capital - - - - -
Other Non-Cash Items 105 159 572 141 148
Net Cash from Continuing 1,812 3,164 1,736 1,936 1,879
Operations
Net Cash from Discontinued
- - - - -
Operations
Cash from Operating Activities 1,812 3,164 1,736 1,936 1,879

Sale of Property, Plant, Equipment 1 10 32 2 28

Sale of Long Term Investments - 5 - - -
Sale of Short Term Investments 7,079 2,787 2,390 2,246 2,516
Purchase of Property, Plant,
(432) (335) (456) (449) (314)
Equipment
Acquisitions - - - (325) -
Purchase of Long Term Investments (23) - - - -
Purchase of Short Term Investments (7,616) (3,724) (2,909) (1,866) (2,134)
Other Investment Changes, Net (30) (11) 144 (22) (4)
Cash from Investing Activities (1,021) (1,268) (798) (414) 93
Cash from Discontinued Investing
- - - - -
Activities

Issuance of Debt - - - 64 94
Issuance of Capital Stock 345 364 187 343 323
Repayment of Debt 33 (237) 170 (35) (256)
Repurchase of Capital Stock (1,859) (741) (649) (1,248) (985)
Payment of Cash Dividends (555) (505) (467) (413) (344)
Other Financing Charges, Net 64 58 25 63 56
Cash from Financing Activities (1,972) (1,061) (734) (1,226) (1,112)
Cash from Discontinued Financing
- - - - -
Activities

Effect of Exchange Rate Changes 57 (47) (47) (19) 42

Net Change in Cash (1,124) 788 157 277 902

Cash at Beginning of Year 3,079 2,291 2,134 1,857 954

Cash at End of Period 1,955 3,079 2,291 2,134 1,857
Foreign Sales 13,284 - - 12,249 10,219
Domestic Sales 7,578 - - 6,378 6,107