Oracle 2008 Annual Report Download - page 100

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Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2009
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
Our significant financial assets and liabilities measured at fair value on a recurring basis, excluding accrued
interest components, consisted of the following types of instruments as of May 31, 2009 (Level 1 and 2 inputs
are defined above):
Fair Value
Measurements
Using Input Type
(in millions) Level 1 Level 2 Total
Assets:
Money market funds $ 467 $ — $ 467
U.S. Treasury, U.S. government and U.S. government agency
debt securities 4,078 — 4,078
Commercial paper debt securities — 1,365 1,365
Corporate debt securities and other — 1,335 1,335
Total financial assets $ 4,545 $ 2,700 $ 7,245
Liabilities:
Derivative financial instrument liabilities $ — $ 35 $ 35
Total financial liabilities $ — $ 35 $ 35
Our valuation techniques used to measure the fair values of our money market funds and U.S. Treasury,
U.S. government and U.S. government agency debt securities were derived from quoted market prices as
substantially all of these instruments have maturity dates (if any) within one year from our date of purchase
and active markets for these instruments exist. Our valuation techniques used to measure the fair values of all
other instruments listed in the table above, substantially all of which mature within one year and the
counterparties to which have high credit ratings, were derived from the following: non-binding market
consensus prices that are corroborated by observable market data; quoted market prices for similar
instruments; or pricing models, such as discounted cash flow techniques, with all significant inputs derived
from or corroborated by observable market data. Our discounted cash flow techniques use observable market
inputs, such as LIBOR-based yield curves, and currency spot and forward rates.
5. PROPERTY
Property consisted of the following:
Estimated May 31,
(Dollars in millions) Useful Lives 2009 2008
Computer and network equipment 2-5 years $ 1,213 $ 1,279
Buildings and improvements 1-50 years 1,579 1,505
Furniture and fixtures 3-10 years 388 433
Land — 515 212
Automobiles 5 years 5 5
Construction in progress — 126 206
Total property 1-50 years 3,826 3,640
Accumulated depreciation (1,904) (1,952)
Total property, net $ 1,922 $ 1,688
92
Source: ORACLE CORP, 10-K, June 29, 2009 Powered by Morningstar® Document Research℠