Nike 2003 Annual Report Download - page 36

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REPORT OF INDEPENDENT AUDITORS
To the Board of Directors and
Shareholders of NIKE, Inc.
In our opinion, the consolidated financial statements listed in the index appearing under Item 15(A)(1) on
page 65 present fairly, in all material respects, the financial position of NIKE, Inc. and its subsidiaries at May 31,
2003 and 2002, and the results of their operations and their cash flows for each of the three years in the period
ended May 31, 2003 in conformity with accounting principles generally accepted in the United States of
America. In addition, in our opinion, the financial statement schedule listed in the index appearing under
Item 15(A)(2) on page 65 presents fairly, in all material respects, the information set forth therein when read in
conjunction with the related consolidated financial statements. These financial statements and financial statement
schedule are the responsibility of the Company’s management; our responsibility is to express an opinion on
these financial statements and financial statement schedule based on our audits. We conducted our audits of these
statements in accordance with auditing standards generally accepted in the United States of America, which
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
As discussed in Note 4 to the consolidated financial statements, effective June 1, 2002, the Company
changed its method of accounting for goodwill and intangible assets in accordance with the Statement of
Financial Accounting Standards No. 142, “Goodwill and Other Intangible Assets”. In addition, as discussed in
Note 1 to the consolidated financial statements, effective June 1, 2001, the Company changed its method of
accounting for derivative instruments in accordance with the Statement of Financial Accounting Standards
No. 133, “Accounting for Derivative Instruments and Hedging Activities” and Statement of Financial
Accounting Standards No. 138, “Accounting for Certain Derivative Instruments and Certain Hedging Activities.”
/
S
/P
RICEWATERHOUSE
C
OOPERS
LLP
Portland, Oregon
June 26, 2003, except for footnote 18, as to which the date is July 9, 2003
35