Attached files
| file | filename |
|---|---|
| EX-32 - SECTION 1350 CERTIFICATIONS - NIKE, Inc. | nke-5312015xexhibit32.htm |
| EX-21 - SUBSIDIARIES OF THE REGISTRANT - NIKE, Inc. | nke-5312015xexhibit21.htm |
| EX-10.5 - NON-STATUTORY STOCK OPTION AGREEMENT FORM - NIKE, Inc. | nke-5312015xexhibit105.htm |
| EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - NIKE, Inc. | nke-5312015xexhibit311.htm |
| EX-10.9 - NIKE, INC. LONG-TERM INCENTIVE PLAN - NIKE, Inc. | nke-5312015xexhibit109.htm |
| EX-10.15 - FORM OF RESTRICTED STOCK AGREEMENT UNDER THE STOCK INCENTIVE PLAN - NIKE, Inc. | nke-5312015xexhibit1015.htm |
| EX-10.16 - FORM OF RESTRICTED STOCK UNIT AGREEMENT UNDER THE STOCK INCENTIVE PLAN - NIKE, Inc. | nke-5312015xexhibit1016.htm |
| 10-K - 10-K - NIKE, Inc. | nke-5312015x10k.htm |
| EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - NIKE, Inc. | nke-5312015xexhibit312.htm |
EXHIBIT 12.1 NIKE, Inc. Computation of Ratio of Earnings to Fixed Charges | ||||
The following disclosure reflects the Company's continuing operations:
Year Ended May 31, | |||||||||||||||||||
(In millions) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||
Net income from continuing operations | $ | 3,273 | $ | 2,693 | $ | 2,451 | $ | 2,257 | $ | 2,163 | |||||||||
Income tax expense | 932 | 851 | 805 | 754 | 689 | ||||||||||||||
Income before income taxes | 4,205 | 3,544 | 3,256 | 3,011 | 2,852 | ||||||||||||||
Add fixed charges: | |||||||||||||||||||
Interest expense(1) | 60 | 58 | 23 | 31 | 32 | ||||||||||||||
Interest component of leases(2) | 59 | 53 | 48 | 42 | 39 | ||||||||||||||
TOTAL FIXED CHARGES | 119 | 111 | 71 | 73 | 71 | ||||||||||||||
Earnings before income taxes and fixed charges(3) | $ | 4,324 | $ | 3,655 | $ | 3,327 | $ | 3,084 | $ | 2,923 | |||||||||
Ratio of earnings to total fixed charges | 36.3 | 32.9 | 46.9 | 42.2 | 41.2 | ||||||||||||||
(1) | Interest expense includes interest both expensed and capitalized. |
(2) | Interest component of leases includes one-tenth of rental expense which approximates the interest component of operating leases. |
(3) | Earnings before income taxes and fixed charges includes amortization of capitalized interest. |