Can someone tell me what the Income from operations and Interest expense is? I have attached the income statement

Created by EDGAR Online, Inc. NIKE INC TABLE1 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Class A Class B $ $ 3,536,091,219 56,098,067,138 59,634,158,357 Created by EDGAR Online, Inc. NIKE INC TABLE2 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Class A Class B 177,557,876 690,739,620 868,297,496 Created by EDGAR Online, Inc. NIKE INC TABLE3 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Created by EDGAR Online, Inc. NIKE INC TABLE3 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 U.S. Retail Stores NIKE Brand factory stores NIKE Brand in-line stores, including NIKETOWNs and employee-only stores Converse stores (including factory stores) Hurley stores (including factory and employee stores) TOTAL Number 176 33 84 29 322 Created by EDGAR Online, Inc. NIKE INC TABLE4 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Created by EDGAR Online, Inc. NIKE INC TABLE4 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Non-U.S. Retail Stores NIKE Brand factory stores NIKE Brand in-line stores, including NIKETOWNs and employee-only stores Converse stores (including factory stores) TOTAL Number 459 71 6 536 Created by EDGAR Online, Inc. NIKE INC TABLE5 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Fiscal 2014 (June 1, 2013 - May 31, 2014) First quarter Second quarter Third quarter Fourth quarter High Low $ 66.85 $ 79.87 80.26 80.09 59.11 63.50 69.85 70.60 Fiscal 2013 (June 1, 2012 - May 31, 2013) First quarter Second quarter Third quarter Fourth quarter High Low $ 54.32 $ 50.42 55.55 65.91 43.89 45.30 48.46 53.49 Dividends Declared $ 0.21 0.24 0.24 0.24 Dividends Declared $ 0.18 0.21 0.21 0.21 Created by EDGAR Online, Inc. NIKE INC TABLE6 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Period March 1 - March 31, 2014 April 1 - April 30, 2014 May 1 - May 31, 2014 Total Number of Average Price Shares Purchased Paid per Share 2,775,000 $ 77.68 4,797,224 $ 73.16 4,709,740 $ 73.40 12,281,964 $ 74.27 Maximum Number (or Approximate Dollar Value) Total Number of Shares of Shares that May Yet Purchased as Part of Be Purchased Under the Publicly Announced Plans or Programs Plans or Programs (In millions) 2,775,000 $ 4,797,224 $ 4,709,740 $ 12,281,964 5,280 4,929 4,583 Created by EDGAR Online, Inc. NIKE INC TABLE7 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions, except per share data and financial ratios) Year Ended May 31, Revenues Gross profit Gross margin % Net income from continuing operations Net income (loss) from discontinued operations Net income Earnings per share from continuing operations: Basic earnings per common share Diluted earnings per common share Earnings per share from discontinued operations: Basic earnings per common share Diluted earnings per common share Weighted average common shares outstanding Diluted weighted average common shares outstanding Cash dividends declared per common share Cash flow from operations, inclusive of discontinued operations Price range of common stock: High Low At May 31, Cash and equivalents Short-term investments Inventories Working capital, excluding assets and liabilities of discontinued operations(2)(3) Total assets, excluding assets of discontinued operations(2) Long-term debt Capital lease obligations Redeemable preferred stock Shareholders' equity 2014 2013(1) $ $ 27,799 $ 12,446 44.80% 25,313 11,034 43.60% 2,693 2,451 2,693 21 2,472 3.05 2.74 2.97 2.68 - 0.02 - 0.02 883.40 897.30 905.80 916.40 0.93 0.81 3,003 2,968 80.26 59.11 65.91 43.89 2,220 2,922 3,947 $ 3,337 2,628 3,484 8,669 9,686 18,594 1,199 74 0.30 10,824 17,545 1,210 81 0.30 11,081 Year-end stock price Market capitalization Financial Ratios: Return on equity Return on assets Inventory turns Current ratio at May 31 Price/Earnings ratio at May 31 76.91 66,921 61.66 55,124 24.60% 14.90% 4.10 2.70 25.90 23.10% 15.30% 4.20 3.50 22.80 Financial History 2012(1) $ $ 2011(1) 23,331 $ 10,148 43.50% 2010(1) 20,117 $ 9,202 45.70% 18,324 8,498 46.40% 2,257 2,163 1,916 (46) 2,211 (39) 2,124 (16) 1,900 2.45 2.27 1.98 2.40 2.23 1.94 (0.05) (0.04) (0.02) (0.05) (0.04) (0.02) 920.00 951.10 971.00 939.60 971.30 987.80 0.70 0.60 0.53 1,824 1,796 3,167 57.20 39.29 46.15 33.61 39.28 25.08 2,254 1,503 3,251 $ 1,877 2,661 2,630 $ 3,026 2,120 1,953 7,531 7,275 7,518 14,804 228 0.30 10,319 14,398 276 ### 0.30 9,793 13,852 446 0.30 9,713 54.09 49,546 42.23 39,523 36.19 35,032 22.00% 15.10% 4.50 3.00 23.00 21.80% 15.00% 4.80 2.90 19.30 20.70% 14.30% 4.70 3.30 18.80 Created by EDGAR Online, Inc. NIKE INC TABLE8 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Selected Quarterly Financial Data (Unaudited) (Dollars in millions, except per share data) Revenues Gross profit Gross margin % Net income from continuing operations Net income (loss) from discontinued operations Net income Earnings per share from continuing operations: Basic earnings per common share Diluted earnings per common share Earnings per share from discontinued operations: Basic earnings per common share Diluted earnings per common share Weighted average common shares outstanding Diluted weighted average common shares outstanding Cash dividends declared per common share Price range of common stock High Low 1st Quarter 2014(1) $ 2nd Quarter 2013(1) 2014(1) 6,971 $ 6,474 $ 6,431 3,132 2,828 2,826 44.90% 43.70% 43.90% 779 582 534 - (18) - 779 564 534 0.88 0.64 0.60 0.86 0.63 0.59 - (0.03) - - (0.02) - 889.40 905.60 888.00 910.70 922.80 910.60 0.21 0.18 0.24 66.85 59.11 54.32 43.89 79.87 63.50 3rd Quarter 2013(1) $ 4th Quarter 2014(1) 2013(1) 5,955 $ 6,972 $ 6,187 $ 2,530 3,103 2,736 42.50% 44.50% 44.20% 519 682 660 2014 2013(1) 7,425 $ 6,697 3,385 2,940 45.60% 43.90% 698 690 (137) - 204 - (28) 382 682 864 698 662 0.58 0.77 0.74 0.80 0.77 0.57 0.75 0.72 0.78 0.76 (0.15) - 0.23 - (0.03) (0.15) - 0.22 - (0.03) 897.00 882.30 893.90 873.70 892.60 913.10 904.80 911.70 895.20 913.40 0.21 0.24 0.21 0.24 0.21 50.42 45.30 80.26 69.85 55.55 48.46 80.09 70.60 65.91 53.49 Created by EDGAR Online, Inc. NIKE INC TABLE9 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions, except per share data) Revenues Cost of sales Gross profit Gross margin % Demand creation expense Operating overhead expense Total selling and administrative expense % of Revenues Interest expense (income), net Other expense (income), net Income before income taxes Income tax expense Effective tax rate Net income from continuing operations Net income (loss) from discontinued operations Net income Diluted earnings per share continuing operations Diluted earnings per share discontinued operations Fiscal 2014 Fiscal 2013(1) % Change $ 27,799 $ 25,313 10% 15,353 14,279 8% 12,446 11,034 13% 44.80% 43.60% 3,031 2,745 10% 5,735 5,051 14% 8,766 7,796 12% 31.50% 33 30.80% (3) 103 3,544 851 24.00% 2,693 (15) 3,256 805 24.70% 2,451 $ $ $ 2,693 2.97 - 21 9% 6% 10% - $ $ 2,472 2.68 9% 11% $ 0.02 - Fiscal 2012(1) % Change $ 23,331 8% 13,183 8% 10,148 9% 43.50% 2,607 5% 4,472 13% 7,079 10% 30.30% 4 54 3,011 754 25.00% 2,257 (46) 8% 7% 9% - $ $ 2,211 2.40 12% 12% $ (0.05) - Created by EDGAR Online, Inc. NIKE INC TABLE10 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Consolidated Operating Results Revenues (Dollars in millions) NIKE, Inc. Revenues: NIKE Brand Revenues by: Footwear Apparel Equipment Global Brand Divisions(3) Total NIKE Brand Revenues Converse Corporate(4) TOTAL NIKE, INC. REVENUES Supplemental NIKE Brand Revenues Details: NIKE Brand Revenues by: Sales to Wholesale Customers Sales Direct to Consumer Global Brand Divisions(3) TOTAL NIKE BRAND REVENUES NIKE Brand Revenues on a Wholesale Equivalent Basis:(5) Sales to Wholesale Customers Sales from our Wholesale Operations to Direct to Consumer Operations TOTAL NIKE BRAND WHOLESALE EQUIVALENT Fiscal 2014 $ Fiscal 2013(1) 16,208 8,109 1,670 $ % Change 14,635 7,491 1,640 11% 8% 2% 125 115 9% 26,112 1,684 3 23,881 1,449 (17) 9% 16% - $ 27,799 $ 25,313 10% $ 20,683 $ 19,401 7% 5,304 4,365 22% 125 115 9% $ 26,112 $ 23,881 9% $ 20,683 $ 19,401 7% 2,499 24% 3,107 REVENUES NIKE Brand Wholesale Equivalent Revenues by:(5) Men's Women's Young Athletes' Others(6) TOTAL NIKE BRAND WHOLESALE EQUIVALENT REVENUES NIKE Brand Wholesale Equivalent Revenues by:(5) Running Basketball Football (Soccer) Men's Training Women's Training Action Sports Sportswear Golf Others(7) $ 23,790 $ 21,900 9% $ 14,001 4,971 3,737 1,081 $ 13,073 4,494 3,251 1,082 7% 11% 15% 0% $ 23,790 $ 21,900 9% $ 4,623 3,119 2,270 2,479 1,149 738 5,877 789 2,746 $ 4,274 2,629 1,930 2,391 1,067 683 5,569 792 2,565 8% 19% 18% 4% 8% 8% 6% 0% 7% % Change Excluding Currency Changes(2) Fiscal 2012(1) 12% $ 10% 4% % Change % Change Excluding Currency Changes(2) 13,513 6,958 1,429 8% 8% 15% 11% 10% 17% 6% 111 4% 7% 11% 15% - 22,011 1,324 (4) 8% 9% - 11% 10% - 11% $ 23,331 8% 11% 8% $ 18,335 6% 8% 22% 3,565 22% 24% 6% 111 4% 7% 11% $ 22,011 8% 11% 8% $ 18,335 6% 8% 2,027 23% 25% 25% 10% $ 20,362 8% 10% 9% $ 12% 16% 1% 12,269 4,221 3,004 868 7% 6% 8% 25% 9% 9% 11% 27% 10% $ 20,362 8% 10% 10% $ 19% 21% 5% 10% 9% 7% 1% 8% 3,694 2,169 1,862 2,072 1,011 664 5,764 726 2,400 16% 21% 4% 15% 6% 3% -3% 9% 7% 18% 22% 9% 17% 8% 5% -1% 10% 9% Created by EDGAR Online, Inc. NIKE INC TABLE11 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Reported Futures Orders Growth North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Total NIKE Brand futures orders 11% 25% 10% 6% -6% 2% 11% Futures Orders Excluding Currency Changes(1) 11% 22% 14% 6% 0% 9% 12% Created by EDGAR Online, Inc. NIKE INC TABLE12 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Gross Margin (Dollars in millions) Gross profit Gross margin % Fiscal 2014 Fiscal 2013 % Change Fiscal 2012 $ 12,446 $ 11,034 13% $ 10,148 44.80% 43.60% 120 bps 43.50% % Change 9% 10 bps Created by EDGAR Online, Inc. NIKE INC TABLE13 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Total Selling and Administrative Expense (Dollars in millions) Demand creation expense(1) Operating overhead expense(2) Total selling and administrative expense % of Revenues Fiscal 2014 Fiscal 2013 % Change $ 3,031 $ 2,745 10% 5,735 5,051 14% $ 8,766 $ 31.50% 7,796 12% 30.80% 70 bps Fiscal 2012 % Change $ 2,607 5% 4,472 13% $ 7,079 10% 30.30% 50 bps Created by EDGAR Online, Inc. NIKE INC TABLE14 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Other Expense (Income), Net (In millions) Other expense (income), net Fiscal 2014 Fiscal 2013 Fiscal 2012 $ 103 $ (15) $ 54 Created by EDGAR Online, Inc. NIKE INC TABLE15 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Income Taxes Effective tax rate Fiscal 2014 Fiscal 2013 24.00% 24.70% % Change Fiscal 2012 (70) bps 25.00% % Change (30) bps Created by EDGAR Online, Inc. NIKE INC TABLE16 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions) North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions(3) Total NIKE Brand Revenues Converse Corporate(4) TOTAL NIKE, INC. REVENUES Fiscal 2014 Fiscal 2013(1) % Change $ 12,299 $ 11,158 10% 4,979 4,193 19% 1,387 1,229 13% 2,602 2,478 5% 771 876 -12% 3,949 3,832 3% 125 115 9% 26,112 23,881 9% 1,684 1,449 16% 3 (17) $ 27,799 $ 25,313 10% % Change Excluding Currency Changes(2) Fiscal 2012(1) % Change 10% $ 9,538 17% 14% 4,212 0% 15% 1,146 7% 3% 2,561 -3% 5% 920 -5% 13% 3,523 9% 6% 111 4% 11% 22,011 8% 15% 1,324 9% (4) 11% $ 23,331 8% % Change Excluding Currency Changes(2) 17% 5% 12% -5% 2% 16% 7% 11% 10% 11% Created by EDGAR Online, Inc. NIKE INC TABLE17 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions) North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate(2) TOTAL CONSOLIDATED EARNINGS BEFORE INTEREST AND TAXES Interest expense (income), net TOTAL CONSOLIDATED INCOME BEFORE INCOME TAXES Fiscal 2014 Fiscal 2013(1) % Change $ 3,075 $ 2,641 16% 855 643 33% 279 234 19% 816 813 0% 131 139 -6% 955 988 -3% (2,021) (1,746) -16% 4,090 3,712 10% 496 425 17% (1,009) (884) -14% 3,577 33 $ 3,544 $ 3,253 (3) 10% - 3,256 9% Fiscal 2012(1) % Change $ 2,092 26% 599 7% 209 12% 913 -11% 135 3% 826 20% (1,479) -18% 3,295 13% 394 8% (674) -31% $ 3,015 4 8% - 3,011 8% Created by EDGAR Online, Inc. NIKE INC TABLE18 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 North America (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES Revenues by: Sales to Wholesale Customers Sales Direct to Consumer TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 7,495 3,937 867 12,299 $ $ $ 9,296 3,003 12,299 $ 3,075 $ $ % Change 6,751 3,591 816 11,158 11% 10% 6% 10% $ 8,571 2,587 11,158 8% 16% 10% $ 2,641 16% $ % Change Excluding Currency Changes Fiscal 2012 % Change % Change Excluding Currency Changes 11% $ 10% 6% 10% $ 5,941 2,993 604 9,538 14% 20% 35% 17% 14% 20% 35% 17% 9% $ 16% 10% $ 7,385 2,153 9,538 16% 20% 17% 16% 20% 17% $ 2,092 26% Created by EDGAR Online, Inc. NIKE INC TABLE19 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Western Europe (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES Revenues by: Sales to Wholesale Customers Sales Direct to Consumer TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 $ $ 3,299 1,427 253 4,979 $ % Change % Change Excluding Currency Changes $ 2,657 1,289 247 4,193 24% 11% 2% 19% 20% 7% -1% 14% 4,022 $ 3,481 16% 11% $ 957 4,979 $ 712 4,193 34% 19% 29% 14% $ 855 $ 643 33% Fiscal 2012 $ % Change % Change Excluding Currency Changes $ 2,538 1,407 267 4,212 5% -8% -7% 0% 10% -4% -3% 5% $ 3,623 -4% 1% $ 589 4,212 21% 0% 27% 5% $ 599 7% Created by EDGAR Online, Inc. NIKE INC TABLE20 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 $ $ 763 532 92 1,387 $ 279 % Change $ 672 468 89 1,229 14% 14% 3% 13% $ 234 19% % Change Excluding Currency Changes 15% 17% 7% 15% Fiscal 2012 $ % Change $ 631 430 85 1,146 6% 9% 5% 7% $ 209 12% % Change Excluding Currency Changes 11% 14% 9% 12% Created by EDGAR Online, Inc. NIKE INC TABLE21 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Greater China (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES Revenues by: Sales to Wholesale Customers Sales Direct to Consumer TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 $ $ 1,600 876 126 2,602 $ % Change % Change Excluding Currency Changes $ 1,495 844 139 2,478 7% 4% -9% 5% 5% 1% -11% 3% 2,041 $ 2,079 -2% -4% $ 561 2,602 $ 399 2,478 41% 5% 38% 3% $ 816 $ 813 0% Fiscal 2012 $ % Change % Change Excluding Currency Changes $ 1,520 910 131 2,561 -2% -7% 6% -3% -3% -8% 4% -5% $ 2,266 -8% -9% $ 295 2,561 35% -3% 33% -5% $ 913 -11% Created by EDGAR Online, Inc. NIKE INC TABLE22 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Japan (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 $ $ 409 276 86 771 $ 131 % Change $ 439 337 100 876 -7% -18% -14% -12% $ 139 -6% % Change Excluding Currency Changes 11% -2% 2% 5% Fiscal 2012 $ % Change $ 447 364 109 920 -2% -7% -8% -5% $ 135 3% % Change Excluding Currency Changes 5% -1% 0% 2% Created by EDGAR Online, Inc. NIKE INC TABLE23 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Emerging Markets (Dollars in millions) Revenues by: Footwear Apparel Equipment TOTAL REVENUES EARNINGS BEFORE INTEREST AND TAXES Fiscal 2014 $ Fiscal 2013 $ $ 2,642 1,061 246 3,949 $ 955 % Change $ 2,621 962 249 3,832 1% 10% -1% 3% $ 988 -3% % Change Excluding Currency Changes Fiscal 2012 % Change 10% $ 21% 9% 13% $ 2,436 854 233 3,523 8% 13% 7% 9% $ 826 20% % Change Excluding Currency Changes 15% 19% 13% 16% Created by EDGAR Online, Inc. NIKE INC TABLE24 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions) Revenues (Loss) Before Interest and Taxes % Change Excluding Currency Fiscal 2014 Fiscal 2013 % Change Changes $ 125 $ 115 9% 6% $ (2,021) $ (1,746) 16% % Change Excluding Currency Fiscal 2012 % Change Changes $ 111 4% 7% $ (1,479) 18% Created by EDGAR Online, Inc. NIKE INC TABLE25 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Converse (Dollars in millions) Revenues Earnings Before Interest and Taxes % Change Excluding Currency Fiscal 2014 Fiscal 2013 % Change Changes Fiscal 2012 $ 1,684 $ 1,449 16% 15% $ 1,324 $ 496 $ 425 17% $ 394 % Change Excluding Currency % Change Changes 9% 10% 8% Created by EDGAR Online, Inc. NIKE INC TABLE26 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Corporate (Dollars in millions) Revenues (Loss) Before Interest and Taxes Fiscal 2014 $3 $ Fiscal 2013 % Change $ (17) - (1,009) $ (884) Fiscal 2012 $ (4) 14% $ (674) % Change 31% Created by EDGAR Online, Inc. NIKE INC TABLE27 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Description of Commitment (In millions) Operating Leases Capital Leases Long-term Debt(1) Endorsement Contracts(2) Product Purchase Obligations(3) Other(4) TOTAL $ $ 2015 427 $ 36 46 991 3,688 309 5,497 $ Cash Payments Due During the Year Ending Ma 2016 2017 399 $ 366 35 1 145 79 787 672 108 1,474 $ 78 1,196 h Payments Due During the Year Ending May 31, 2018 2019 Thereafter Total $ 311 $ 251 $ 1,050 $ 1 1 56 37 1,488 524 349 1,381 $ - - 7 899 3 641 $ $ 12 3,931 $ 2,804 74 1,851 4,704 3,688 517 13,638 Created by EDGAR Online, Inc. NIKE INC TABLE28 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (Dollars in millions) Foreign Exchange Risk Japanese Yen Functional Currency Long-term Japanese Yen debt - Fixed rate Principal payments Average interest rate Interest Rate Risk Japanese Yen Functional Currency Long-term Japanese Yen debt - Fixed rate Principal payments Average interest rate U.S. Dollar Functional Currency Long-term U.S. Dollar debt - Fixed rate swapped to Floating rate Principal payments Average interest rate Long-term U.S. Dollar debt - Fixed rate Principal payments Average interest rate 2015 $7 2016 $7 2.40% $7 2017 $7 2.40% $7 2018 $7 2.40% $7 2.40% $7 2.40% 2.40% 2.40% 2.40% $ $ 0.00% 100 $ 0.30% $ 0.00% 0.00% $1 $1 $ 38 $ 6.20% 18 6.80% 6.40% 6.40% Expected Maturity Date Year Ending May 31, 2019 Thereafter $7 $7 42 $ 2.40% 45 $ 45 2.40% 2.40% 42 $ 2.40% 0.00% ### $ 0.00% 100 $ 0.30% 106 1,000 $ 2.90% 1,058 $ 3.10% 1,003 $7 $ Fair Value $ 2.40% $ Total 2.40% $7 $ 0% Created by EDGAR Online, Inc. NIKE INC INCOME_STATEMENT Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NIKE, Inc. Consolidated Statements of Income (In millions, except per share data) Income from continuing operations: Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net (Notes 6, 7, and 8) Other expense (income), net (Note 17) Income before income taxes Income tax expense (Note 9) NET INCOME FROM CONTINUING OPERATIONS NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS NET INCOME 2014 $ $ 27,799 15,353 12,446 3,031 5,735 8,766 33 103 3,544 851 2,693 2,693 Earnings per share from continuing operations: Basic earnings per common share (Notes 1 and 12) Diluted earnings per common share (Notes 1 and 12) $ $ 3.05 2.97 Earnings per share from discontinued operations: Basic earnings per common share (Notes 1 and 12) Diluted earnings per common share (Notes 1 and 12) $ $ - Dividends declared per common share $ 0.93 Year Ended May 31, 2013 $ 2012 $ 25,313 $ 14,279 11,034 2,745 5,051 7,796 (3) (15) 3,256 805 2,451 21 2,472 $ 23,331 13,183 10,148 2,607 4,472 7,079 4 54 3,011 754 2,257 (46) 2,211 $ $ 2.74 2.68 $ $ 2.45 2.40 $ $ 0.02 0.02 $ $ (0.05) (0.05) $ 0.81 $ 0.70 Created by EDGAR Online, Inc. NIKE INC TABLE29 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NIKE, Inc. Consolidated Statements of Comprehensive Income (In millions) Net income Other comprehensive income (loss), net of tax: Change in net foreign currency translation adjustment (1) Change in net gains (losses) on cash flow hedges (2) Change in net gains (losses) on net investment hedges (3) Change in net gains (losses) on other (4) Change in release of cumulative translation loss related to Umbro (5) Total other comprehensive income (loss), net of tax TOTAL COMPREHENSIVE INCOME $ 2014 2,693 (32) (161) 4 - $ (189) 2,504 Year Ended May 31, $ $ 2013 2,472 $ 2012 2,211 38 (277) 12 304 (8) 45 (18) 83 - 125 2,597 $ 54 2,265 Created by EDGAR Online, Inc. NIKE INC BALANCE_SHEET Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NIKE, Inc. Consolidated Balance Sheets May 31, (In millions) ASSETS Current assets: Cash and equivalents Short-term investments (Note 6) Accounts receivable, net (Note 1) Inventories (Notes 1 and 2) Deferred income taxes (Note 9) Prepaid expenses and other current assets (Notes 6 and 17) Total current assets Property, plant and equipment, net (Note 3) Identifiable intangible assets, net (Note 4) Goodwill (Note 4) Deferred income taxes and other assets (Notes 6, 9, and 17) TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt (Note 8) Notes payable (Note 7) Accounts payable (Note 7) Accrued liabilities (Notes 5, 6, and 17) Income taxes payable (Note 9) Liabilities of discontinued operations (Note 15) Total current liabilities Long-term debt (Note 8) Deferred income taxes and other liabilities (Notes 6, 9, 13 and 17) Commitments and contingencies (Note 16) Redeemable preferred stock (Note 10) Shareholders' equity: Common stock at stated value (Note 11): Class A convertible - 178 and 178 shares outstanding Class B - 692 and 716 shares outstanding Capital in excess of stated value Accumulated other comprehensive income (Note 14) Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 2014 $ 2,220 2,922 3,434 3,947 355 818 13,696 2,834 282 131 $ 1,651 18,594 $7 167 1,930 2,491 432 5,027 1,199 1,544 - - $ 3 5,865 85 4,871 10,824 18,594 2013 $ 3,337 2,628 3,117 3,484 308 756 13,630 2,452 289 131 $ $ 1,043 17,545 57 98 1,669 2,036 84 18 3,962 1,210 1,292 - - $ 3 5,184 274 5,620 11,081 17,545 Created by EDGAR Online, Inc. NIKE INC CASH_FLOW Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NIKE, Inc. Consolidated Statements of Cash Flows (In millions) Cash provided by operations: Net income Income charges (credits) not affecting cash: Depreciation Deferred income taxes Stock-based compensation (Note 11) Amortization and other Net gain on divestitures Changes in certain working capital components and other assets and liabilities: (Increase) decrease in accounts receivable (Increase) in inventories (Increase) in prepaid expenses and other current assets Increase in accounts payable, accrued liabilities and income taxes payable Cash provided by operations Cash (used) provided by investing activities: Purchases of short-term investments Maturities of short-term investments Sales of short-term investments Additions to property, plant and equipment Disposals of property, plant and equipment Proceeds from divestitures Increase in other assets, net of other liabilities Settlement of net investment hedges Cash (used) provided by investing activities Cash used by financing activities: Net proceeds from long-term debt issuance Long-term debt payments, including current portion Increase (decrease) in notes payable Payments on capital lease obligations Proceeds from exercise of stock options and other stock issuances Excess tax benefits from share-based payment arrangements Repurchase of common stock Dividends - common and preferred 2014 $ 2,693 518 (11) 177 114 - (298) (505) (210) 525 3,003 (5,386) 3,932 1,126 (880) 3 (2) (1,207) (60) 75 (17) 383 132 (2,628) (799) Cash used by financing activities Effect of exchange rate changes Net (decrease) increase in cash and equivalents Cash and equivalents, beginning of year CASH AND EQUIVALENTS, END OF YEAR Supplemental disclosure of cash flow information: Cash paid during the year for: Interest, net of capitalized interest Income taxes Non-cash additions to property, plant and equipment Dividends declared and not paid (2,914) 1 $ $ (1,117) 3,337 2,220 53 856 167 209 Year Ended May 31, 2013 $ 2,472 2012 $ 2,211 438 20 174 66 (124) 373 (59) 130 23 - 142 (219) (323) (815) (28) (141) 27 2,968 425 1,824 (4,133) 1,663 1,330 (598) 14 786 (3,245) 2,663 1,721 (563) 2 - (2) (940) (14) 22 586 986 - (49) 10 - (203) (47) ### 313 468 72 (1,674) (703) 115 (1,814) (619) $ $ (1,045) 100 (2,100) 67 1,083 2,254 3,337 377 1,877 2,254 20 702 137 188 $ $ 29 638 99 165 Created by EDGAR Online, Inc. NIKE INC STOCKHOLDERS_EQUITY Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NIKE, Inc. Consolidated Statements of Shareholders' Equity Common Stock Class A (In millions, except per share data) Balance at May 31, 2011 Stock options exercised Repurchase of Class B Common Stock Dividends on common stock ($0.70 per share) Issuance of shares to employees Stock-based compensation (Note 11) Forfeiture of shares from employees Net income Other comprehensive income Balance at May 31, 2012 Stock options exercised Conversion to Class B Common Stock Repurchase of Class B Common Stock Dividends on common stock ($0.81 per share) Issuance of shares to employees Stock-based compensation (Note Class B Shares Amount 180 $ Shares - Amount 756 $3 18 (40) 2 - 180 $ - 736 $3 10 (2) 2 (34) 2 11) Forfeiture of shares from employees Net income Other comprehensive income Balance at May 31, 2013 Stock options exercised Repurchase of Class B Common Stock Dividends on common stock ($0.93 per share) Issuance of shares to employees Stock-based compensation (Note 11) Forfeiture of shares from employees Net income Other comprehensive income Balance at May 31, 2014 - 178 $ - 716 $3 11 (37) 2 - 178 $ - 692 $3 Capital in Excess of Stated Value $ Accumulated Other Comprehensive Income 3,944 $ Retained Earnings 95 $ Total 5,751 $ 528 528 (12) (1,793) (1,805) (639) (639) 57 57 130 130 (6) (4) 2,211 (10) 2,211 54 $ 9,793 4,641 $ 149 54 $ 5,526 322 $ 10,319 322 - (10) 65 (1,647) (1,657) (727) (727) 65 174 174 (8) (4) 2,472 (12) 2,472 125 $ 5,184 $ 274 125 $ 5,620 $ 445 445 (11) (2,617) (2,628) (821) (821) 78 78 177 177 (8) (4) 2,693 (12) 2,693 (189) $ 11,081 5,865 $ 85 (189) $ 4,871 $ 10,824 Created by EDGAR Online, Inc. NIKE INC TABLE30 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions, except per share data) Total selling and administrative expense Income before income taxes Income tax expense NET INCOME FROM CONTINUING OPERATIONS NET INCOME As Reported $ 7,780 3,272 808 $ 2,464 2,485 Earnings per share from continuing operations: Basic earnings per common share Diluted earnings per common share $ $ 2.75 2.69 Earnings per share for NIKE Inc. Basic earnings per common share Diluted earnings per common share $ $ 2.77 2.71 (In millions) Net income TOTAL COMPREHENSIVE INCOME (In millions) ASSETS Inventories Prepaid expenses and other current assets Total current assets Identifiable intangible assets, net Deferred income taxes and other assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Notes payable Accounts payable Accrued liabilities Income taxes payable Total current liabilities Retained earnings As Reported $ 2,485 $ 2,610 Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY NIKE, Inc. Consolidated Statements of Income Year Ended May 31, 2013 Year Ended May 31, 2012 Adjustment $ As Revised As Reported 16 $ (16) (3) 7,796 3,256 805 $ (13) (13) $ 2,451 2,472 $ $ (0.01) $ (0.01) $ $ $ (0.01) $ (0.01) $ $ Adjustment 7,065 3,025 756 $ $ 2,269 2,223 $ (12) (12) 2.74 2.68 $ $ 2.47 2.42 $ $ (0.02) (0.02) 2.76 2.70 $ $ 2.42 2.37 $ $ (0.02) (0.02) NIKE, Inc. Consolidated Statements of Comprehensive Income Year Ended May 31, 2013 Year Ended May 31, 2012 Adjustment As Revised As Reported Adjustment $ (13) $ 2,472 $ 2,223 $ $ (13) $ 2,597 $ 2,277 $ As Reported $ $ $ NIKE, Inc. Consolidated Balance Sheet May 31, 2013 Adjustment As Revised 3,434 802 13,626 382 993 17,584 $ 121 1,646 1,986 98 3,926 5,695 $ $ 14 (14) (2) 50 $ (46) 4 (93) 50 (39) $ 3,484 756 13,630 289 1,043 17,545 (23) $ 23 50 (14) 36 (75) 98 1,669 2,036 84 3,962 5,620 (12) (12) $ 11,156 17,584 $ (75) (39) $ 11,081 17,545 As Revised $ 7,079 3,011 754 $ 2,257 2,211 $ $ 2.45 2.40 $ $ 2.40 2.35 As Revised $ 2,211 $ 2,265 Created by EDGAR Online, Inc. NIKE INC CASH_FLOW2 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Cash provided by operations: Net income Income charges (credits) not affecting cash: Deferred income taxes Amortization and other (Increase) in inventories Increase in accounts payable, accrued liabilities and income taxes payable Cash provided by operations Cash (used) provided by investing activities: Purchases of short-term investments Maturities of short-term investments Sales of short-term investments Additions to property, plant and equipment Increase in other assets, net of other liabilities Cash (used) provided by investing activities Cash used by financing activities: Increase (decrease) in notes payable Cash used by financing activities Net (decrease) increase in cash and equivalents Cash and equivalents, beginning of year CASH AND EQUIVALENTS, END OF YEAR As Reported (In millions) Balance at May 31, 2011 Net income Balance at May 31, 2012 Net income As Reported $ 5,801 2,223 $ 5,588 2,485 $ 2,485 21 75 (197) 41 3,027 (3,702) 1,501 998 (636) (28) (1,067) 15 (1,040) 1,020 $ 2,317 3,337 Balance at May 31, 2013 $ 5,695 NIKE, Inc. Consolidated Statements of Cash Flows Year Ended May 31, 2013 Adjustment As Revised As Reported $ $ Retained Earnings Adjustment $ $ (13) $ 2,472 $ 2,223 (1) (9) (22) (14) 20 66 (219) 27 (60) 32 (805) 470 (59) 2,968 1,899 (431) (4,133) (2,705) 162 332 1,663 1,330 2,585 1,244 38 (598) (597) 26 (2) (37) 127 (940) 514 (5) (5) 10 (1,045) (65) (2,118) 63 1,083 362 (63) $ 2,254 3,337 $ 1,955 2,317 NIKE, Inc. Consolidated Statements of Shareholders' Equity Total Shareholders' Equity As Revised As Reported (50) $ 5,751 $ 9,843 (12) 2,211 2,223 (62) $ 5,526 $ 10,381 (13) 2,472 2,485 $ (75) $ 5,620 $ 11,156 Year Ended May 31, 2012 Adjustment $ $ of Shareholders' Equity Total Shareholders' Equity Adjustment $ $ As Revised (12) $ 2,211 1 (9) (10) (45) (59) 23 (815) 425 (75) 1,824 (540) (3,245) 78 477 2,663 1,721 34 (563) 23 (14) 72 586 18 18 (47) (2,100) 15 377 (78) (63) $ 1,877 2,254 As Revised (50) $ 9,793 (12) 2,211 (62) $ 10,319 (13) 2,472 $ (75) $ 11,081 Created by EDGAR Online, Inc. NIKE INC TABLE31 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 3 - Property, Plant and Equipment Property, plant and equipment included the following: (In millions) Land Buildings Machinery, equipment and internal-use software Leasehold improvements Construction in process Total property, plant and equipment, gross Less accumulated depreciation TOTAL PROPERTY, PLANT AND EQUIPMENT, NET $ $ As of May 31, 2014 270 1,261 3,376 1,066 247 6,220 3,386 2,834 As of May 31, $ $ 2013 268 1,174 2,985 945 128 5,500 3,048 2,452 Created by EDGAR Online, Inc. NIKE INC TABLE32 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 4 - Identifiable Intangible Assets and Goodwill The following table summarizes the Company's Identifiable intangible asset balances as of May 31, 2014 and 2013: (In millions) Acquired trademarks and other Indefinite-lived trademarks IDENTIFIABLE INTANGIBLE ASSETS, NET Gross Carrying Amount $ 39 ble intangible asset As of May 31, 2014 Accumulated Amortization $ (39) Net Carrying Gross Carrying Amount Amount $ 282 $ 282 $ As of May 31, 2013 Accumulated Amortization 43 $ (36) Net Carrying Amount $7 282 $ 289 Created by EDGAR Online, Inc. NIKE INC TABLE33 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Compensation and benefits, excluding taxes Endorsement compensation Dividends payable Taxes other than income taxes Advertising and marketing Import and logistics costs Fair value of derivatives Other(1) TOTAL ACCRUED LIABILITIES $ $ As of May 31, 2014 782 $ 328 209 204 133 127 85 623 2,491 $ 2013 713 264 188 192 77 111 34 457 2,036 Created by EDGAR Online, Inc. NIKE INC TABLE34 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 6 - Fair Value Measurements The following tables present information about the Company's financial assets and liabilities measured at fair value on a recurring basis as of May 31, 2014 and 2013 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Refer to Note 1 - Summary of Significant Accounting Policies for additional detail regarding the Company's fair value measurement methodology. (In millions) Cash Level 1: U.S. Treasury securities Level 2: Time deposits U.S. Agency securities Commercial paper and bonds Money market funds Total level 2 Level 3: Non-marketable preferred stock TOTAL Assets at Fair Cash and Cash Value Equivalents $ 780 $ 780 $ 1,137 151 227 1,027 959 1,012 3,225 227 25 25 1,012 1,289 7 5,149 $ 2,220 As of May 31, 2014 Short-term Investments $ Other Long-term Assets - ### 986 - 1,002 934 1,936 $ 2,922 ### ### 7 $7 Created by EDGAR Online, Inc. NIKE INC TABLE35 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Cash Level 1: U.S. Treasury securities Level 2: Time deposits U.S. Agency securities(1) Commercial paper and bonds(1) Money market funds Total level 2 Level 3: Non-marketable preferred stock TOTAL Assets at Fair Cash and Cash Value Equivalents $ 663 $ 663 $ 2,008 425 358 1,026 1,074 836 3,294 358 395 660 836 2,249 5 5,970 $ 3,337 As of May 31, 2013 Short-term Investments $ $ Other Long-term Assets - ### 1,583 - 631 414 1,045 ### ### - 2,628 5 $5 Created by EDGAR Online, Inc. NIKE INC TABLE36 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 As of May 31, 2014 (In millions) Level 2: Foreign exchange forwards and options(1) Interest rate swap contracts TOTAL Assets at Fair Value $ $ 127 6 133 Asset Derivatives Other Current Assets $ $ Other Long-term Assets 101 101 $ $ 26 6 32 As of May 31, 2014 Liability Derivatives Liabilities at Fair Value $ $ Accrued Liabilities 85 85 $ $ Other Long-term Liabilities 84 $1 84 $1 ### Created by EDGAR Online, Inc. NIKE INC TABLE37 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 As of May 31, 2013 (In millions) Level 2: Foreign exchange forwards and options(1) Interest rate swap contracts TOTAL Assets at Fair Value $ $ 278 11 289 Asset Derivatives Other Current Assets $ $ Other Long-term Assets 199 199 $ $ 79 11 90 As of May 31, 2013 Liability Derivatives Liabilities at Fair Value $ $ Other Long-term Liabilities Accrued Liabilities 34 34 $ $ 34 34 $ $ ### - Created by EDGAR Online, Inc. NIKE INC TABLE38 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 As of May 31, (Dollars in millions) Notes payable: U.S. operations Non-U.S. operations TOTAL NOTES PAYABLE Interest-Bearing Accounts Payable: Sojitz America 2014 Interest Rate Borrowings $ $ 167 167 $ 60 0.00 % (1) 10.04 % (1) 0.94% Borrowings $ $ 98 98 $ 55 2013 Interest Rate 0.00 % (1) 4.94 % (1) 0.99% Created by EDGAR Online, Inc. NIKE INC TABLE39 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 8 - Long-Term Debt Long-term debt, net of unamortized premiums and discounts and swap fair value adjustments, comprises the following: Scheduled Maturity (Dollars and Yen in millions) Corporate Bond Payables:(4) October 1, 2013 October 15, 2015(1) May 1, 2023(5) May 1, 2043(5) Promissory Notes: April 1, 2017 (2) January 1, 2018 (2) Japanese Yen Notes: August 20, 2001 through November 20, 2020(3) August 20, 2001 through November 20, 2020(3) Total Less current maturities TOTAL LONG-TERM DEBT Original Principal Interest Rate $ $ $ $ 50 100 500 500 4.70% 5.15% 2.25% 3.63% $ $ 40 19 6.20% 6.79% 9,000 4,000 2.60% 2.00% Book Value Outstanding As of May 31, Interest Payments Semi-Annually Semi-Annually Semi-Annually Semi-Annually 2014 $ Monthly Monthly Quarterly Quarterly $ 108 499 499 2013 $ 50 111 499 499 39 19 40 19 29 13 1,206 7 1,199 34 15 1,267 57 1,210 $ Created by EDGAR Online, Inc. NIKE INC TABLE40 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Income before income taxes: United States Foreign TOTAL INCOME BEFORE INCOME TAXES 2014 $ $ 3,066 478 3,544 Year Ended May 31, 2013 $ $ 1,231 2,025 3,256 2012 $ $ 799 2,212 3,011 Created by EDGAR Online, Inc. NIKE INC TABLE41 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Year Ended May 31, (In millions) Current: United States Federal State Foreign Total Deferred: United States Federal State Foreign Total TOTAL INCOME TAX EXPENSE 2014 $ $ 371 93 398 862 2013 $ 432 69 398 899 8 (3) (16) (11) 851 $ (4) (90) (94) 805 2012 $ $ 286 51 488 825 (47) 5 (29) (71) 754 Created by EDGAR Online, Inc. NIKE INC TABLE42 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Year Ended May 31, Federal income tax rate State taxes, net of federal benefit Foreign earnings Deferred charge Other, net EFFECTIVE INCOME TAX RATE 2014 35.00% 1.80% 2.20% -14.60% -0.40% 24.00% 2013 35.00% 1.40% -11.80% 0.00% 0.10% 24.70% 2012 35.00% 1.30% -11.90% 0.00% 0.60% 25.00% Created by EDGAR Online, Inc. NIKE INC TABLE43 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Deferred tax assets: Allowance for doubtful accounts Inventories Sales return reserves Deferred compensation Stock-based compensation Reserves and accrued liabilities Foreign loss carry-forwards Foreign tax credit carry-forwards Undistributed earnings of foreign subsidiaries Other Total deferred tax assets Valuation allowance Total deferred tax assets after valuation allowance Deferred tax liabilities: Property, plant and equipment Intangibles Other Total deferred tax liability NET DEFERRED TAX ASSET As of May 31, 2014 $ $ 2013 11 $ 49 113 211 162 95 16 194 51 902 (9) 893 20 40 101 197 140 66 19 106 147 47 883 (5) 878 (237) (94) (2) (333) 560 $ (241) (78) (20) (339) 539 Created by EDGAR Online, Inc. NIKE INC TABLE44 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Unrecognized tax benefits, as of the beginning of the period Gross increases related to prior period tax positions(1) Gross decreases related to prior period tax positions(1) Gross increases related to current period tax positions Gross decreases related to current period tax positions Settlements(1) Lapse of statute of limitations Changes due to currency translation UNRECOGNIZED TAX BENEFITS, AS OF THE END OF THE PERIOD $ $ As of May 31, 2014 2013 447 $ 285 $ 814 77 (166) (3) 125 130 (30) (9) (676) (4) (21) (4) (12) 506 $ 447 $ 2012 212 48 (25) 91 (1) (20) (9) (11) 285 Created by EDGAR Online, Inc. NIKE INC TABLE45 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Stock options(1) ESPPs Restricted stock TOTAL STOCK-BASED COMPENSATION EXPENSE $ $ 2014 125 22 30 177 Year Ended May 31, $ $ 2013 123 $ 19 32 174 $ 2012 96 16 18 130 Created by EDGAR Online, Inc. NIKE INC TABLE46 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Dividend yield Expected volatility Weighted average expected life (in years) Risk-free interest rate Year Ended May 31, 2014 2013 1.30% 1.50% 27.90% 35.00% 5.30 5.30 1.30% 0.60% 2012 1.40% 29.50% 5.00 1.40% Created by EDGAR Online, Inc. NIKE INC TABLE47 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Options outstanding May 31, 2011 Exercised Forfeited Granted Options outstanding May 31, 2012 Exercised Forfeited Granted Options outstanding May 31, 2013 Exercised Forfeited Granted Options outstanding May 31, 2014 Options exercisable at May 31, 2012 2013 2014 Shares (1) (In millions) 69.60 (18.00) (1.00) 13.70 64.30 (9.90) (1.30) 14.60 67.70 (11.00) (1.30) 8.10 63.50 33.90 35.90 37.00 Weighted Average Option Price $ $ $ $ $ 25.65 22.81 35.61 45.87 30.59 24.70 40.14 46.55 34.72 28.29 48.33 63.54 39.28 24.38 27.70 31.42 Created by EDGAR Online, Inc. NIKE INC TABLE48 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 12 - Earnings Per Share The following is a reconciliation from Basic earnings per common share to Diluted earnings per common share. Options to purchase an additional 0.1 million, 0.1 million, and 0.2 million shares of common stock were outstanding at May 31, 2014, 2013, and 2012, respectively, but were not included in the computation of Diluted earnings per common share because the options were anti-dilutive. (In millions, except per share data) Determination of shares: Weighted average common shares outstanding Assumed conversion of dilutive stock options and awards DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Earnings per share from continuing operations: Basic earnings per common share Diluted earnings per common share Earnings per share from discontinued operations: Basic earnings per common share Diluted earnings per common share Basic earnings per common share for NIKE, Inc. Diluted earnings per common share for NIKE, Inc. s per common share to chase an additional 0.1 stock were outstanding at ere not included in the ecause the options were Year Ended May 31, 2014 2013 2012 883.40 22.40 905.80 897.30 19.10 916.40 920.00 19.60 939.60 $ $ 3.05 2.97 $ $ 2.74 2.68 $ $ 2.45 2.40 $ $ - $ $ 0.02 0.02 $ $ (0.05) (0.05) $ $ 3.05 2.97 $ $ 2.76 2.70 $ $ 2.40 2.35 Created by EDGAR Online, Inc. NIKE INC TABLE49 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Balance at May 31, 2013 Other comprehensive gains (losses) before reclassifications (2) Reclassifications to net income of previously deferred (gains) losses (3) Other comprehensive income (loss) Balance at May 31, 2014 Foreign Currency Translation Adjustment(1) Cash Flow Hedges $ 41 $ 193 (32) (134) - (27) (32) $9 $ (161) 32 Net Investment Hedges(1) Other $ 95 $ $ Total (55) $ 274 - ### (166) - 4 (23) 95 $ 4 (51) $ (189) 85 Created by EDGAR Online, Inc. NIKE INC TABLE50 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Gains on cash flow hedges: Foreign exchange forwards and options Foreign exchange forwards and options Foreign exchange forwards and options Foreign exchange forwards and options Total before tax Tax expense Gain, net of tax Losses on other Total before tax Tax expense Loss, net of tax Total net gain reclassified for the period Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Year Ended May 31, 2014 $ 14 12 10 36 (9) 27 (4) (4) (4) $ 23 Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Revenues Cost of sales Total selling and administrative expense Other expense (income), net Other expense (income), net Created by EDGAR Online, Inc. NIKE INC TABLE51 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Revenues Income (loss) before income taxes Income tax expense Net income (loss) from discontinued operations $ $ 2014 - Year Ended May 31, $ $ 2013 523 $ 108 87 21 $ 2012 796 (43) 3 (46) Created by EDGAR Online, Inc. NIKE INC TABLE52 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Accounts payable Accrued liabilities TOTAL LIABILITIES As of May 31, 2014 $ - $1 $ $ 2013 17 18 Created by EDGAR Online, Inc. NIKE INC TABLE53 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NOTE 16 - Commitments and Contingencies 2014, 2013 Operating leases Capital leases The Company leases space for certain of its offices, warehouses and retail stores under leases expiring from 1 to 20 years after May 31, 2014. Rent expense was $533 million, $482 million, and $431 million for the years ended May 31, and 2012, respectively. Amounts of minimum future annual commitments under non-cancelable operating and capital leases are as follows (in millions): 2015 2016 2017 2018 $ 427 $ 399 $ 366 $ 311 $ 36 $ 35 $1 $1 arehouses and retail 31, 2014. Rent expense years ended May 31, um future annual commitments as follows (in millions): 2019 Thereafter Total $ 251 $ 1,050 $ $1 $ $ 2,804 74 Created by EDGAR Online, Inc. NIKE INC BALANCE_SHEET2 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) Derivatives formally designated as hedging instruments: Foreign exchange forwards and options Foreign exchange forwards and options Interest rate swap contracts Total derivatives formally designated as hedging instruments Derivatives not designated as hedging instruments: Foreign exchange forwards and options Total derivatives not designated as hedging instruments TOTAL DERIVATIVES Asset Derivatives Balance Sheet Location Prepaid expenses and other current assets Deferred income taxes and other assets Deferred income taxes and other assets $ Prepaid expenses and other current assets $ 2014 76 2013 $ 141 26 79 6 11 108 231 25 58 25 133 $ 58 289 Liability Derivatives Balance Sheet Location Accrued liabilities Deferred income taxes and other liabilities Deferred income taxes and other liabilities $ 2014 57 2013 $ 1 Accrued liabilities $ 12 - - - 58 12 27 22 27 85 $ 22 34 Created by EDGAR Online, Inc. NIKE INC TABLE54 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives(1) Year Ended May 31, (In millions) Derivatives designated as cash flow hedges: Foreign exchange forwards and options Foreign exchange forwards and options Foreign exchange forwards and options Foreign exchange forwards and options Total designated cash flow hedges Derivatives designated as net investment hedges: Foreign exchange forwards and options 2014 $ $ $ 2013 2012 (48) $ 42 (78) 67 253 4 (3) 3 (21) 33 36 (143) $ - $ $ (29) 139 $ 263 - $ 45 Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income(1) Location of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income Into Income(1) Revenues $ Year Ended May 31, 2014 14 2013 $ (19) Cost of sales Total selling and administrative expense 12 - 2 Other expense (income), net 10 9 Other expense (income), net 113 $ 36 $ 105 $ - $ - 2012 $5 (57) (2) (9) $ (63) $ - Created by EDGAR Online, Inc. NIKE INC TABLE55 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Amount of Gain (Loss) Recognized in Income on Derivatives Year Ended May 31, 2014 2013 (In millions) Derivatives designated as fair value hedges: Interest rate swaps(1) Derivatives not designated as hedging instruments: Foreign exchange forwards and options Embedded derivatives $5 $5 $ (75) $ $ (1) $ 2012 $6 51 $ (4) $1 64 Location of Gain (Loss) Recognized in Income on Derivatives Interest expense (income), net Other expense (income), net Other expense (income), net Created by EDGAR Online, Inc. NIKE INC TABLE56 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) REVENUE North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL NIKE CONSOLIDATED REVENUES EARNINGS BEFORE INTEREST AND TAXES North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate Total NIKE Consolidated Earnings Before Interest and Taxes Interest expense (income), net TOTAL NIKE CONSOLIDATED EARNINGS BEFORE TAXES ADDITIONS TO LONG-LIVED ASSETS North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL ADDITIONS TO LONG-LIVED ASSETS DEPRECIATION North America Western Europe Central & Eastern Europe Greater China 2014 $ $ $ $ $ $ $ 12,299 4,979 1,387 2,602 771 3,949 125 26,112 1,684 3 27,799 3,075 855 279 816 131 955 (2,021) 4,090 496 (1,009) 3,577 33 3,544 240 120 19 63 9 55 225 731 30 161 922 109 71 11 38 Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL DEPRECIATION $ 19 25 175 448 16 54 518 Year Ended May 31, 2013 $ $ $ $ $ $ $ 2012 11,158 $ 4,193 1,229 2,478 876 3,832 115 23,881 1,449 (17) 25,313 $ 9,538 4,212 1,146 2,561 920 3,523 111 22,011 1,324 (4) 23,331 2,641 $ 643 234 813 139 988 (1,746) 3,712 425 (884) 2,092 599 209 913 135 826 (1,479) 3,295 394 (674) 3,253 (3) 3,256 $ 3,015 4 3,011 132 75 22 52 7 50 270 608 20 153 781 $ 92 68 9 32 $ $ 139 93 20 38 14 27 220 551 11 25 587 85 62 6 25 $ 22 20 122 365 15 38 418 $ 23 16 85 302 14 37 353 Created by EDGAR Online, Inc. NIKE INC TABLE57 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 (In millions) ACCOUNTS RECEIVABLE, NET North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL ACCOUNTS RECEIVABLE, NET INVENTORIES North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL INVENTORIES PROPERTY, PLANT AND EQUIPMENT, NET North America Western Europe Central & Eastern Europe Greater China Japan Emerging Markets Global Brand Divisions Total NIKE Brand Converse Corporate TOTAL PROPERTY, PLANT AND EQUIPMENT, NET As of May 31, 2014 $ $ $ $ $ $ 1,505 341 280 68 162 819 71 3,246 171 17 3,434 1,758 711 271 221 94 633 18 3,706 261 (20) 3,947 545 384 51 232 258 115 537 2,122 70 642 2,834 2013 $ $ $ $ $ $ 1,459 375 287 56 154 574 30 2,935 131 51 3,117 1,626 560 207 209 69 567 30 3,268 210 6 3,484 424 327 44 213 269 89 473 1,839 52 561 2,452 Created by EDGAR Online, Inc. NIKE INC TABLE58 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Revenues by Major Product Lines Revenues to external customers for NIKE Brand products are attributable to sales of footwear, apparel and equipment. Other revenues to external customers consist primarily of sales by Converse. (In millions) Footwear Apparel Equipment Other TOTAL NIKE CONSOLIDATED REVENUES $ $ 2014 16,208 8,109 1,670 1,812 27,799 and products are attributable to sales venues to external customers consist Year Ended May 31, $ $ 2013 14,635 $ 7,491 1,640 1,547 25,313 $ 2012 13,513 6,958 1,429 1,431 23,331 Created by EDGAR Online, Inc. NIKE INC TABLE59 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 3.10 3.20 4.10 4.20 10.10 10.20 10.30 10.40 10.50 10.60 10.70 10.80 10.90 ated by EDGAR Online, Inc. E INC LE59 m Type: 10-K od End: May 31, 2014 Filed: Jul 25, 2014 Restated Articles of Incorporation, as amended (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2012). Third Restated Bylaws, as amended (incorporated by reference to Exhibit 3.2 to the Company's Current Report on Form 8-K filed June 21, 2013). Restated Articles of Incorporation, as amended (see Exhibit 3.1). Third Restated Bylaws, as amended (see Exhibit 3.2). Form of Non-Statutory Stock Option Agreement for options granted to non-employee directors prior to May 31, 2010 under the 1990 Stock Incentive Plan (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed June 21, 2005, File No. 1-10635).* Form of Non-Statutory Stock Option Agreement for options granted to non-employee directors after May 31, 2010 under the 1990 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2010).* Form of Non-Statutory Stock Option Agreement for options granted to executives prior to May 31, 2010 under the 1990 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2009, File No. 1-10635).* Form of Restricted Stock Agreement for non-employee directors under the 1990 Stock Incentive Plan.* Form of Non-Statutory Stock Option Agreement for options granted to executives after May 31, 2010 under the 1990 Stock Incentive Plan (incorporated by reference to Exhibit 10.4 to the Company's Annual Report on Form 10-K for the fiscal year ended May 3, 2013).* Form of Indemnity Agreement entered into between the Company and each of its officers and directors (incorporated by reference to Exhibit 10.2 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2008, File No. 1-10635).* NIKE, Inc. 1990 Stock Incentive Plan.* NIKE, Inc. Executive Performance Sharing Plan (incorporated by reference to Exhibit 10.7 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2012).* NIKE, Inc. Long-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on September 26, 2012).* Created by EDGAR Online, Inc. NIKE INC TABLE60 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 10.10 10.11 10.12 10.13 10.14 10.15 10.16 10.17 10.18 10.19 10.20 10.21 10.22 10.23 12.10 21 23 31.10 31.20 32 101.INS 101.SCH 101.CAL 101.DEF 101.LAB 101.PRE ated by EDGAR Online, Inc. E INC LE60 m Type: 10-K od End: May 31, 2014 Filed: Jul 25, 2014 NIKE, Inc. Deferred Compensation Plan (Amended and Restated effective April 1, 2013) (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2013).* NIKE, Inc. Deferred Compensation Plan (Amended and Restated effective June 1, 2004) (applicable to amounts deferred before January 1, 2005) (incorporated by reference to Exhibit 10.6 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2004, File No. 1-10635).* Amendment No. 1 effective January 1, 2008 to the NIKE, Inc. Deferred Compensation Plan (June 1, 2004 Restatement) (incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2009, File No. 1-10635).* NIKE, Inc. Foreign Subsidiary Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2008, File No. 1-10635).* Amended and Restated Covenant Not To Compete and Non-Disclosure Agreement between NIKE, Inc. and Mark G. Parker dated July 24, 2008 (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed July 24, 2008, File No. 1-10635).* Form of Restricted Stock Bonus Agreement under the 1990 Stock Incentive Plan for awards prior to May 31, 2010 (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed June 21, 2005, File No. 1-10635).* Form of Restricted Stock Agreement under the 1990 Stock Incentive Plan for awards after May 31, 2010 (incorporated by reference to Exhibit 10.16 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2013).* Form of Restricted Stock Unit Agreement under the 1990 Stock Incentive Plan (incorporated by reference to Exhibit 10.17 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2013).* Covenant Not to Compete and Non-Disclosure Agreement between NIKE, Inc. and Donald W. Blair dated November 10, 1999 (incorporated by reference to Exhibit 10.15 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2006, File No. 1-10635).* Covenant Not to Compete and Non-Disclosure Agreement between NIKE, Inc. and Eric D. Sprunk dated April 18, 2001 (incorporated by reference to Exhibit 10.23 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2010).* Covenant Not to Compete and Non-Disclosure Agreement between NIKE, Inc. and Trevor A. Edwards dated November 14, 2002 (incorporated by reference to Exhibit 10.19 to the Company's Annual Report on Form 10-K for the fiscal year ended May 31, 2008, File No. 1-10635).* Covenant Not to Compete and Non-Disclosure Agreement between NIKE, Inc. and Jeanne Jackson dated March 4, 2009.* Policy for Recoupment of Incentive Compensation (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed July 20, 2010).* Credit Agreement dated as of November 1, 2011 among NIKE, Inc., Bank of America, N.A., individually and as Agent and the other banks party thereto (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed November 2, 2011). Computation of Ratio of Earnings to Fixed Charges. Subsidiaries of the Registrant. Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm (included within this Annual Report on Form 10-K). Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer. Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer. Section 1350 Certifications. XBRL Instance Document XBRL Taxonomy Extension Schema XBRL Taxonomy Extension Calculation Linkbase XBRL Taxonomy Extension Definition Document XBRL Taxonomy Extension Label Linkbase XBRL Taxonomy Extension Presentation Linkbase Created by EDGAR Online, Inc. NIKE INC TABLE61 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 SCHEDULE II - Valuation and Qualifying Accounts Balance at Charged to Costs (In millions) Beginning of Period and Expenses Sales returns reserve For the year ended May 31 2012 $ 151 $ For the year ended May 31 2013 173 For the year ended May 31 2014 241 Allowance for doubtful accounts(1) For the year ended May 31 2012 $ 120 $ For the year ended May 31 2013 91 For the year ended May 31 2014 104 Charged to Other Accounts 401 $ (3) 538 1 619 (3) 21 $ (9) 31 1 13 (2) Balance at End of Period Write-Offs, Net $ $ (376) $ 173 (471) 241 (549) 308 (41) $ 91 (19) 104 (37) 78 Created by EDGAR Online, Inc. NIKE INC RATIO_COMPUTATION Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NKE- 5.31-2014 - Exhibit 12.1 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) 2014 2013 Net income from continuing operations $ 2,693 $ 2,451 $ Income taxes 851 805 Income before income taxes 3,544 3,256 Add fixed charges Interest expense(1) 58 23 Interest component of leases(2) 53 48 TOTAL FIXED CHARGES 111 71 Earnings before income taxes and fixed charges(3) $ 3,655 $ 3,327 $ Ratio of earnings to total fixed charges 32.90 46.90 2012 2,257 754 3,011 31 42 73 3,084 42.20 2011 $ $ 2,163 689 2,852 2010 $ 1,916 612 2,528 32 33 39 71 36 69 2,923 41.20 $ 2,597 37.60 Created by EDGAR Online, Inc. NIKE INC SUBSIDIARIES Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 NKE - 05.31.2014 - Exhibit 21 SUBSIDIARIES OF THE REGISTRANT Entity Name Air Max Limited All Star C.V. American NIKE S.L.U. A.S. Roma Merchandising s.r.l. BRS NIKE Taiwan Inc. Converse (Asia Pacific) Limited Converse Canada Corp. Converse Canada Holding B.V. Converse Europe Limited Converse Footwear Technical Service (Zhongshan) Co., Ltd. Converse Holdings LLC Converse Hong Kong Holding Company Limited Converse Hong Kong Limited Converse Inc. Converse Korea LLC Converse Netherlands B.V. Converse Sporting Goods (China) Co., Ltd. Converse Trading Company B.V. F.C. Internazionale Merchandising s.r.l. French Football Merchandising S.A.S. Futbol Club Barcelona Merchandising, S.L. Hurley 999, S.L.U. Hurley Australia Pty. Ltd. Hurley Fuse B.V. Hurley International Holdings B.V. Hurley International LLC Hurley Phantom C.V. Juventus Merchandising S.r.l. LATAM Servicos de Licenciamento Esportivo Ltda. Manchester United Merchandising Limited NIKE 360 Holding B.V. NIKE Amplify LLC NIKE Argentina S.R.L. NIKE Asia Holding B.V. NIKE Australia Holding B.V. NIKE Australia Pty. Ltd. NIKE CA LLC NIKE Canada Corp. NIKE Canada Holding B.V. NIKE Chile B.V. NIKE China Holding HK Limited NIKE Codrus Coperatief U.A. NIKE Commercial (China) Co., Ltd. NIKE Cortez NIKE Costa Rica, SRL NIKE CR d.o.o NIKE Czech s.r.o. NIKE de Chile Ltda. Jurisdiction of Formation Bermuda Netherlands Spain Italy Taiwan Hong Kong Canada Netherlands United Kingdom People's Republic of China Delaware Hong Kong Hong Kong Delaware Korea Netherlands People's Republic of China Netherlands Italy France Spain Spain Australia Netherlands Netherlands Oregon Netherlands Italy Brazil United Kingdom Netherlands Delaware Argentina Netherlands Netherlands Australia Delaware Canada Netherlands Netherlands Hong Kong Netherlands China Bermuda Costa Rica Croatia Czech Republic Chile Created by EDGAR Online, Inc. NIKE INC TABLE62 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Entity Name Jurisdiction of Formation NIKE de Mexico S de R.L. de C.V. NIKE Denmark ApS NIKE Deutschland GmbH NIKE do Brasil Comercio e Participacoes Ltda. NIKE Drive B.V. NIKE Dunk Holding B.V. NIKE Elevate C.V. NIKE Europe Holding B.V. NIKE European Operations Netherlands B.V. NIKE Finance Ltd. NIKE Finland OY NIKE France S.A.S. NIKE Fuel B.V. NIKE Fundamentals C.V. NIKE Galaxy Holding B.V. NIKE Gesellschaft m.b.H. NIKE Glide C.V. NIKE Global Holding B.V. NIKE GLOBAL SERVICES PTE. LTD. NIKE GLOBAL TRADING PTE. LTD. NIKE Group Holding B.V. NIKE Hellas EPE NIKE Holding, LLC NIKE Hong Kong Limited NIKE Huarache NIKE Hungary LLC NIKE Ignite LLC NIKE IHM, Inc. NIKE India Holding B.V. NIKE India Private Limited NIKE Innovate C.V. NIKE International Holding B.V. NIKE International Holding, Inc. NIKE International LLC NIKE International Ltd. NIKE Israel Ltd. NIKE Italy S.R.L. NIKE Japan Corp. NIKE Japan Group LLC NIKE Jump Ltd. NIKE Korea LLC NIKE Laser Holding B.V. NIKE Licenciamentos Ltda. NIKE Lightning C.V. Mexico Denmark Germany Brazil Netherlands Netherlands Netherlands Netherlands Netherlands Bermuda Finland France Netherlands Netherlands Netherlands Austria Netherlands Netherlands Singapore Singapore Netherlands Greece Delaware Hong Kong Bermuda Hungary Delaware Missouri Netherlands India Netherlands Netherlands Delaware Delaware Bermuda Israel Italy Japan Japan Bermuda Korea Netherlands Brazil Netherlands NIKE Logistics Yugen Kaisha NIKE Maxim C.V. NIKE Mercurial Corp. NIKE Mercurial Finance Limited NIKE Mercurial Hong Kong Limited NIKE Mercurial Licensing Limited Japan Netherlands Delaware United Kingdom Hong Kong United Kingdom Created by EDGAR Online, Inc. NIKE INC TABLE63 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Entity Name Jurisdiction of Formation NIKE Mercurial Ltd. NIKE Mercurial I Limited NIKE Mercurial II Limited NIKE Mexico Holdings, LLC NIKE New Zealand Company NIKE Norway AS NIKE NZ Holding B.V. NIKE Offshore Holding B.V. NIKE Panama S. de R.L. NIKE Philippines, Inc. NIKE Poland Sp.zo.o NIKE Retail B.V. NIKE Retail Hellas Ltd. NIKE Retail Israel Ltd. NIKE Retail LLC NIKE Retail Poland sp. z o. o. NIKE Retail Services, Inc. NIKE Retail Turkey NIKE Russia LLC NIKE SALES (MALAYSIA) SDN. BHD. NIKE Servicios de Mexico S. de R.L. de C.V. NIKE SINGAPORE PTE LTD NIKE Slovakia s.r.o. NIKE Sourcing India Private Limited NIKE Sourcing (Guangzhou) Co., Ltd. NIKE South Africa (Proprietary) Limited NIKE South Africa Holdings LLC NIKE Sphere C.V. NIKE Sports (China) Company, Ltd. NIKE Sports Korea Co., Ltd. NIKE Suzhou Holding HK Limited NIKE (Suzhou) Sports Company, Ltd. NIKE Sweden AB NIKE (Switzerland) GmbH NIKE Taiwan Limited NIKE (Thailand) Limited NIKE TN, Inc. NIKE Trading Company B.V. NIKE trgovina na debelo d.o.o. NIKE UK Holding B.V. NIKE (UK) Limited NIKE USA, Inc. NIKE Vapor Ltd. NIKE Victory Cooperatief U.A. United Kingdom United Kingdom United Kingdom Delaware New Zealand Norway Netherlands Netherlands Panama Philippines Poland Netherlands Greece Israel Russia Poland Oregon Turkey Russia Malaysia Mexico Singapore Slovakia India China South Africa Delaware Netherlands People's Republic of China South Korea Hong Kong People's Republic of China Sweden Switzerland Taiwan Thailand Oregon Netherlands Slovenia Netherlands United Kingdom Oregon United Kingdom Netherlands NIKE Vietnam Limited Liability Company NIKE Vision, Timing and Techlab, LP NIKE Vomero Cooperatief U.A. NIKE Woodside I, LLC NIKE Woodside II, LLC NIKE Woodside I Holdings, Inc. Vietnam Texas Netherlands Oregon Oregon Oregon Created by EDGAR Online, Inc. NIKE INC TABLE64 Form Type: 10-K Period End: May 31, 2014 Date Filed: Jul 25, 2014 Entity Name Jurisdiction of Formation NIKE Woodside II Holdings, Inc. NIKE Zoom LLC PT Hurley Indonesia PT NIKE Indonesia Savier, Inc. Triax Insurance, Inc. Twin Dragons Global Limited Twin Dragons Holding B.V. Umbro Asia Sourcing Limited Yugen Kaisha Hurley Japan Oregon Delaware Indonesia Indonesia Oregon Hawaii Hong Kong Netherlands Hong Kong Japan