Exhibit 12.1
NIKE, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
* For comparable purposes with 1996, results for the three months ended
August 31, 1995 have been adjusted to reflect the elimination of the one
month lag in reporting by certain of the Company's international
operations.
(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.