Nike 2010 Annual Report Download - page 59

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Table of Contents NIKE, INC.
CONSOLIDATED STATEMENTS OF INCOME
Year Ended May 31,
2010 2009 2008
(In millions, except per share data)
Revenues $19,014.0 $19,176.1 $18,627.0
Cost of sales 10,213.6 10,571.7 10,239.6
Gross margin 8,800.4 8,604.4 8,387.4
Selling and administrative expense 6,326.4 6,149.6 5,953.7
Restructuring charges (Note 16) — 195.0 —
Goodwill impairment (Note 4) — 199.3 —
Intangible and other asset impairment (Note 4) — 202.0 —
Interest expense (income), net (Notes 6, 7 and 8) 6.3 (9.5) (77.1)
Other (income) expense, net (Notes 17 and 18) (49.2) (88.5) 7.9
Income before income taxes 2,516.9 1,956.5 2,502.9
Income taxes (Note 9) 610.2 469.8 619.5
Net income $ 1,906.7 $ 1,486.7 $ 1,883.4
Basic earnings per common share (Notes 1 and 12) $ 3.93 $ 3.07 $ 3.80
Diluted earnings per common share (Notes 1 and 12) $ 3.86 $ 3.03 $ 3.74
Dividends declared per common share $ 1.06 $ 0.98 $ 0.875
The accompanying notes to consolidated financial statements are an integral part of this statement.
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