NIKE, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Income before income taxes
Add fixed charges
Interest component of leases(2)
Total fixed charges
Earnings before income taxes and fixed charges(3)
Ratio of earnings to total fixed charges
Interest expense includes interest both expensed and capitalized.
Interest component of leases includes one-third of rental expense, which approximates the interest
component of operating leases.
Earnings before income taxes and fixed charges is exclusive of capitalized interest.