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NKE » Topics » Note 11 - Earnings Per Share

These excerpts taken from the NKE 10-K filed Jul 27, 2009.

Earnings Per Share

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated by adjusting weighted average outstanding shares, assuming conversion of all potentially dilutive stock options and awards. See Note 12 — Earnings Per Share for further discussion.

Note 12 — Earnings Per Share

The following represents a reconciliation from basic earnings per common share to diluted earnings per common share. Options to purchase an additional 13.2 million, 6.6 million and 9.5 million shares of common stock were outstanding at May 31, 2009, 2008 and 2007, respectively, but were not included in the computation of diluted earnings per share because the options were antidilutive.

 

     Year Ended May 31,
       2009            2008            2007    
   (In millions, except per share data)

Determination of shares:

         

Weighted average common shares outstanding

      484.9      495.6      503.8

Assumed conversion of dilutive stock options and awards

      5.8      8.5      6.1
                    

Diluted weighted average common shares outstanding

      490.7      504.1      509.9
                    

Basic earnings per common share

    $ 3.07    $ 3.80    $ 2.96
                    

Diluted earnings per common share

    $ 3.03    $ 3.74    $ 2.93
                    

 

77

Table of Contents

NIKE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

 

These excerpts taken from the NKE 10-K filed Jul 28, 2008.

Note 11 — Earnings Per Share

The following represents a reconciliation from basic earnings per common share to diluted earnings per common share. Options to purchase an additional 6.6 million, 9.5 million and 11.3 million shares of common stock were outstanding at May 31, 2008, 2007 and 2006, respectively, but were not included in the computation of diluted earnings per share because the options were antidilutive.

 

     Year Ended May 31,
       2008            2007            2006    
   (In millions, except per share data)

Determination of shares:

         

Weighted average common shares outstanding

      495.6      503.8      518.0

Assumed conversion of dilutive stock options and awards

      8.5      6.1      9.6
                    

Diluted weighted average common shares outstanding

      504.1      509.9      527.6
                    

Basic earnings per common share

    $ 3.80    $ 2.96    $ 2.69
                    

Diluted earnings per common share

    $ 3.74    $ 2.93    $ 2.64
                    

Note 11 — Earnings Per Share

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The following represents a reconciliation from basic earnings per common share to diluted earnings per common share. Options to purchase an additional
6.6 million, 9.5 million and 11.3 million shares of common stock were outstanding at May 31, 2008, 2007 and 2006, respectively, but were not included in the computation of diluted earnings per share because the options were
antidilutive.

 











































































































































   Year Ended May 31,
      2008          2007          2006    
  (In millions, except per share data)

Determination of shares:

      

Weighted average common shares outstanding

   495.6   503.8   518.0

Assumed conversion of dilutive stock options and awards

   8.5   6.1   9.6
            

Diluted weighted average common shares outstanding

   504.1   509.9   527.6
            

Basic earnings per common share

  $3.80  $2.96  $2.69
            

Diluted earnings per common share

  $3.74  $2.93  $2.64
            
This excerpt taken from the NKE 10-K filed Jul 27, 2007.

Note 11 — Earnings Per Share

The following represents a reconciliation from basic earnings per share to diluted earnings per share. Options to purchase an additional 9.5 million, 11.3 million and 0.5 million shares of common stock were outstanding at May 31, 2007, 2006 and 2005, respectively, but were not included in the computation of diluted earnings per share because the options were antidilutive.

 

       Year Ended May 31,
     2007      2006      2005
     (In millions, except per share data)

Determination of shares:

               

Weighted average common shares outstanding

        503.8        518.0        525.2

Assumed conversion of dilutive stock options and awards

        6.1        9.6        15.4
                          

Diluted weighted average common shares outstanding

        509.9        527.6        540.6
                          

Basic earnings per common share

      $ 2.96      $ 2.69      $ 2.31
                          

Diluted earnings per common share

      $ 2.93      $ 2.64      $ 2.24
                          

 

68

Table of Contents

NIKE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

 

This excerpt taken from the NKE 10-K filed Jul 28, 2006.

Note 11 — Earnings Per Share

The following represents a reconciliation from basic earnings per share to diluted earnings per share. Options to purchase 5.6 million and 0.2 million shares of common stock were outstanding at May 31, 2006 and May 31, 2005, respectively, but were not included in the computation of diluted earnings per share because the options’ exercise prices were greater than the average market price of the common shares and, therefore, the effect would be antidilutive. There were no such antidilutive options outstanding at May 31, 2004.

 

     Year Ended May 31,
     2006    2005    2004
    

(In millions,

except per share data)

Determination of shares:

         

Average common shares outstanding

      259.0      262.6      263.2

Assumed conversion of dilutive stock options and awards

      4.8      7.7      6.5
                    

Diluted average common shares outstanding

      263.8      270.3      269.7
                    

Basic earnings per common share

    $ 5.37    $ 4.61    $ 3.59
                    

Diluted earnings per common share

    $ 5.28    $ 4.48    $ 3.51
                    

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Jul 27, 2009
10-K (2 sections)
Jul 28, 2008
10-K
Jul 27, 2007
10-K
Jul 28, 2006

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