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PART II
NIKE, Inc. Consolidated Statements of Comprehensive
Income
Year Ended May 31,
(In millions) 2014 2013 2012
Net income $ 2,693 $ 2,472 $ 2,211
Other comprehensive income (loss), net of tax:
Change in net foreign currency translation adjustment(1) (32) 38 (277)
Change in net gains (losses) on cash flow hedges(2) (161) 12 304
Change in net gains (losses) on net investment hedges(3) ——45
Change in net gains (losses) on other(4) 4 (8) (18)
Change in release of cumulative translation loss related to Umbro(5) —83—
Total other comprehensive income (loss), net of tax (189) 125 54
TOTAL COMPREHENSIVE INCOME $ 2,504 $ 2,597 $ 2,265
(1) Net of tax benefit (expense) of $0 million, $(13) million, and $0 million, respectively.
(2) Net of tax benefit (expense) of $18 million, $(22) million, and $(22) million, respectively.
(3) Net of tax benefit of $0 million, $0 million, and $0 million, respectively.
(4) Net of tax benefit of $0 million, $1 million, and $0 million, respectively.
(5) Net of tax benefit of $0 million, $47 million, and $0 million, respectively.
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.
NIKE, INC. 2014 Annual Report and Notice of Annual Meeting 89
FORM 10-K