NIKE, Inc.            Exhibit 12.1 
 
              Computation of Ratio of Earnings to Fixed Charges
  
                                                Six Months Ended 
                                                   November 30, 
                                                ________________ 
 
                                                1997         1996 
                                                ____         ____ 
                                              (dollars in thousands) 
 
Net income                                     $394,179     $402,935 
Income taxes                                    246,700      254,900 
                                               ________     ________ 
 
  Income before income taxes                    640,879      657,835 
                                               ________     ________ 
 
Add fixed charges 
  Interest expense (A)                           34,874       24,430 
  Interest component of leases (B)               21,923       11,866 
                                               _________    ________ 
 
Total fixed charges                              56,797       36,296 
                                               _________    ________ 
 
Earnings before income taxes and 
  fixed charges (C)                            $696,857     $692,595 
                                               ========     ======== 
 
Ratio of earnings to total fixed charges          12.27        19.08 
                                               ========     ======== 
 
 
(A)  Interest expense includes interest 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.