NIKE INC. Consolidated Income Statements May 31, May 31, For Year Ended ($ millions) Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense 2019 2018 $39,117 $36,397 21,643 20,441 17,474 15,956 3,753 3,577 8,949 7,934 Total selling and administrative expense 12,702 11,511 Interest expense (income), net Other (income) expense, net Income before income taxes Income tax expense Net income 49 54 (78) 66 4,801 4,325 772 2,392 $4,029 $1,933