Nike 2006 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2006 Nike annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

NIKE, INC.
CONSOLIDATED STATEMENTS OF INCOME
Year Ended May 31,
2006 2005 2004
(In millions, except per share data)
Revenues ..................................................... $14,954.9 $13,739.7 $12,253.1
Cost of sales .................................................. 8,367.9 7,624.3 7,001.4
Gross margin .................................................. 6,587.0 6,115.4 5,251.7
Selling and administrative expense ................................. 4,477.8 4,221.7 3,702.0
Interest (income) expense, net (Notes 1, 6 and 7) ...................... (36.8) 4.8 25.0
Other expense, net (Notes 5 and 16) ................................ 4.4 29.1 74.7
Income before income taxes ...................................... 2,141.6 1,859.8 1,450.0
Income taxes (Note 8) ........................................... 749.6 648.2 504.4
Net income ................................................... $ 1,392.0 $ 1,211.6 $ 945.6
Basic earnings per common share (Notes 1 and 11) .................... $ 5.37 $ 4.61 $ 3.59
Diluted earnings per common share (Notes 1 and 11) .................. $ 5.28 $ 4.48 $ 3.51
Dividends declared per common share .............................. $ 1.18 $ 0.95 $ 0.74
The accompanying notes to consolidated financial statements are an integral part of this statement.
46