Nike 2016 Annual Report Download - page 46

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PART II
NIKE, Inc. Consolidated Statements of Income
Year Ended May 31,
(In millions, except per share data) 2016 2015 2014
Revenues $ 32,376 $ 30,601 $ 27,799
Cost of sales 17,405 16,534 15,353
Gross profit 14,971 14,067 12,446
Demand creation expense 3,278 3,213 3,031
Operating overhead expense 7,191 6,679 5,735
Total selling and administrative expense 10,469 9,892 8,766
Interest expense (income), net 19 28 33
Other (income) expense, net (140) (58) 103
Income before income taxes 4,623 4,205 3,544
Income tax expense 863 932 851
NET INCOME $ 3,760 $ 3,273 $ 2,693
Earnings per common share:
Basic $ 2.21 $ 1.90 $ 1.52
Diluted $ 2.16 $ 1.85 $ 1.49
Dividends declared per common share $ 0.62 $ 0.54 $ 0.47
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
NIKE, INC. 2016 Annual Report and Notice of Annual Meeting 99
FORM 10-K