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NIKE, INC.
COMPUTATION OF RATIO OF EARNINGS TO CHARGES
Six Months Ended
November 30,
__________________
2000 1999
____ ____
(in millions)
Net income $329.6 $307.8
Income taxes 189.4 188.6
______ ______
Income before income taxes 519.0 496.4
______ _____
Add fixed charges
Interest expense (A) 36.9 18.4
Interest component of leases (B) 24.7 24.0
______ ______
Total fixed charges 61.6 42.4
______ ______
Earnings before income taxes and
fixed charges (C) $575.8 $537.1
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Ratio of earnings to total fixed
charges 9.34 12.67
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(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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