NIKE, INC. COMPUTATION OF RATIO OF EARNINGS TO CHARGES Nine Months Ended February 28 and 29, __________________ 2001 2000 ____ ____ (in millions) Net income $427.0 $453.1 Income taxes 240.2 272.4 ______ ______ Income before income taxes 667.2 725.5 ______ _____ Add fixed charges Interest expense (A) 53.0 32.3 Interest component of leases (B) 37.4 36.1 ______ ______ Total fixed charges 90.4 68.4 ______ ______ Earnings before income taxes and fixed charges (C) $750.7 $792.2 ====== ====== Ratio of earnings to total fixed charges 8.30 11.58 ====== ====== (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.