The company announced a four-year $8 billion share repurchase program in 2012.
Cash-rich Nike is ramping up purchases of its stock as it continues executing on a three-pronged capital strategy of returning money through dividends, buying back shares and investing in its business.
The strategy is Nike's way of dealing with the $6.5 billion in cash and equivalents on its balance sheet. The company also had more than $3 billion in free cash flow in its last fiscal year, an all-time high.
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