NOTE 8 — Earnings Per Share

The following is a reconciliation from basic earnings per share to diluted earnings per share. Options to purchase an additional 27.4 million and 13.6 million shares of common stock were outstanding for the three month periods ended November 30, 2012 and 2011, respectively, and 27.4 million and 13.7 million shares of common stock were outstanding for the six month periods ended November 30, 2012 and 2011, respectively, but were not included in the computation of diluted earnings per share because the options were anti-dilutive.

On November 15, 2012 the Company announced a two-for-one stock split of both NIKE Class A and Class B Common shares. Common stock began trading at the split-adjusted price on December 26, 2012. All share numbers and per share amounts presented reflect the stock split.


	Three Months Ended November 30,						Six Months Ended November 30,
(In millions, except per share data)	2012			2011			2012			2011
Determination of shares:
Weighted average common shares outstanding		897.0			918.5			901.4			924.2
Assumed conversion of dilutive stock options and awards		16.1			18.4			16.9			18.7
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING		913.1			936.9			918.3			942.9
Earnings per share from continuing operations:
Basic earnings per common share	$	0.58		$	0.52		$	1.23		$	1.23
Diluted earnings per common share	$	0.57		$	0.51		$	1.20		$	1.21
Earnings per share from discontinued operations:
Basic earnings per common share	$	(0.15	)	$	(0.01	)	$	(0.18	)	$	(0.02	)
Diluted earnings per common share	$	(0.15	)	$	(0.01	)	$	(0.16	)	$	(0.03	)
Basic earnings per common share for NIKE, Inc.	$	0.43		$	0.51		$	1.05		$	1.21
Diluted earnings per common share for NIKE, Inc.	$	0.42		$	0.50		$	1.04		$	1.18