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Table of Contents
in the fourth quarter of fiscal 2006 for approximately $1.7 billion. At May 31, 2006, 17,968,130 shares were available for repurchase pursuant to our Siebel
Program.
The following table summarizes the stock repurchase activity for the three months ending May 31, 2006 and the approximate dollar value of shares that may yet
be purchased pursuant to our share repurchase programs:
(in millions, except per share amounts)
Total Number of
Shares
Purchased
Average Price
Paid Per Share
Total Number of
Shares
Purchased as
Part of Publicly
Announced
Programs
Approximate
Dollar Value of
Shares that May
Yet Be
Purchased Under
the Programs(1)
March 1, 2006 - March 31, 2006 21.1 $ 13.74 21.1 $ 3,292.7
April 1, 2006 - April 30, 2006 101.7 14.29 101.7 1,839.5
May 1, 2006 - May 31, 2006 — — — 1,839.5
Total 122.8 $ 14.19 122.8
(1) The approximate value of shares that may yet be purchased under our Siebel Program was estimated using the closing price of our common stock as of
May 31, 2006. In July 2006, the Board increased the authorization for the repurchase program such that $4.0 billion is now available for repurchase under the
program.
Item 6. Selected Financial Data
The following table sets forth selected financial data for the last five years. This selected financial data should be read in conjunction with the consolidated
financial statements and related notes included in Item 15 of this Form 10-K. In the last two years, we have paid an aggregate of approximately $19.5 billion for
our acquisitions, including PeopleSoft and Siebel. The results of our acquired companies have been included in our consolidated financial statements since their
respective dates of acquisition.
Year Ended May 31,
(in millions, except per share amounts) 2006 2005 2004 2003 2002
Total revenues $ 14,380 $ 11,799 $ 10,156 $ 9,475 $ 9,673
Operating income 4,736 4,022 3,864 3,440 3,571
Net income 3,381 2,886 2,681 2,307 2,224
Earnings per share - basic 0.65 0.56 0.51 0.44 0.40
Earnings per share - diluted 0.64 0.55 0.50 0.43 0.39
Basic weighted average common shares outstanding 5,196 5,136 5,215 5,302 5,518
Diluted weighted average common shares outstanding 5,287 5,231 5,326 5,418 5,689
Working capital 5,044(1) 385(2) 7,064 5,069 4,768
Total assets 29,029(3) 20,687(3) 12,763 10,967 10,800
Short-term borrowings and current portion of long-term debt 159 2,693(4) 9 153 —
Long-term debt, net of current portion 5,735(1) 159 163 175 298
Stockholders’ equity 15,012 10,837 7,995 6,320 6,117
(1) Total working capital increased as of May 31, 2006 primarily due to the issuance of $5.75 billion in long-term debt and increased cash flows from operations.
See Note 5 of Notes to Consolidated Financial Statements for additional information on our borrowings.
(2) Total working capital decreased as of May 31, 2005 primarily due to cash paid to acquire PeopleSoft and an increase in short-term borrowings.
(3) Total assets increased as of May 31, 2006 and 2005 primarily due to goodwill and intangible assets acquired from acquisitions, principally Siebel in fiscal
2006 and PeopleSoft in fiscal 2005. See Note 2 of Notes to Consolidated Financial Statements for additional information on our acquisitions.
(4) Short-term borrowings increased due to amounts borrowed under our commercial paper program and a loan facility borrowed by Oracle Technology
Company, a wholly-owned subsidiary of the Company. We repaid these borrowings in fiscal 2006.
21
Source: ORACLE CORP, 10-K, July 21, 2006 Powered by Morningstar® Document Research℠