Attached files
| file | filename |
|---|---|
| 10-K - 10-K - NIKE, Inc. | nke-5312016x10k.htm |
| EX-32 - SECTION 1350 CERTIFICATIONS - NIKE, Inc. | nke-5312016xexhibit32.htm |
| EX-31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - NIKE, Inc. | nke-5312016xexhibit312.htm |
| EX-31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - NIKE, Inc. | nke-5312016xexhibit311.htm |
| EX-21 - SUBSIDIARIES OF THE REGISTRANT - NIKE, Inc. | nke-5312016xexhibit21.htm |
| EX-10.17 - COVENANT NOT TO COMPETE AND NON-DISCLOSURE AGREEMENT - NIKE, Inc. | nke-5312016xexhibit1017.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) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||
Income before income taxes | $ | 4,623 | $ | 4,205 | $ | 3,544 | $ | 3,256 | $ | 3,011 | |||||||||
Capitalized interest, net of amortization | (3 | ) | — | — | — | — | |||||||||||||
Adjusted income before income taxes | 4,620 | 4,205 | 3,544 | 3,256 | 3,011 | ||||||||||||||
Add fixed charges: | |||||||||||||||||||
Interest expense(1)(2) | 74 | 60 | 58 | 23 | 31 | ||||||||||||||
Interest component of leases(3) | 66 | 59 | 53 | 48 | 42 | ||||||||||||||
Total Fixed Charges | 140 | 119 | 111 | 71 | 73 | ||||||||||||||
Earnings before income taxes and fixed charges | $ | 4,760 | $ | 4,324 | $ | 3,655 | $ | 3,327 | $ | 3,084 | |||||||||
Ratio of earnings to total fixed charges | 34.0 | 36.3 | 32.9 | 46.9 | 42.2 | ||||||||||||||
(1) | Interest expense includes interest both expensed and capitalized and amortization of premiums, discounts and capitalized expenses related to indebtedness. |
(2) | Interest expense does not include interest related to uncertain tax positions. |
(3) | Interest component of leases includes one-tenth of rental expense which approximates the interest component of operating leases. |