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Previous: NIKE INC, 10-Q, 2000-10-16 |
Next: NIKE INC, 10-Q, EX-27, 2000-10-16 |
NIKE, INC.
COMPUTATION OF RATIO OF EARNINGS TO CHARGES
Three Months Ended
August 31,
__________________
2000 1999
____ ____
(in millions)
Net income $210.2 $200.2
Income taxes 120.8 122.7
______ ______
Income before income taxes 331.0 322.9
______ _____
Add fixed charges
Interest expense (A) 17.0 11.7
Interest component of leases (B) 12.4 11.7
______ ______
Total fixed charges 29.4 23.4
______ ______
Earnings before income taxes and
fixed charges (C) $358.8 $344.6
====== ======
Ratio of earnings to total fixed
charges 12.2 14.7
====== ======
(A) Interest expense includes both expensed and capitalized.
(B) Interest component of leases includes one-third of rental expense,
which approximates the interest component of operating leases.
(C) Earnings before income taxes and fixed charges is exclusive of
capitalized interest.
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