Oracle 2009 Annual Report Download - page 159

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Exhibit 12.01
ORACLE CORPORATION
Consolidated Ratio of Earnings to Fixed Charges
(Unaudited)
Year Ended May 31,
(Dollars in millions) 2010 2009 2008 2007 2006
Earnings(1)
Income before provision for income taxes $ 8,243 $ 7,834 $ 7,834 $ 5,986 $ 4,810
Add: Noncontrolling interests 95 84 60 71 41
Add: Fixed charges 808 685 454 380 205
Less: Equity in earnings — — — — (14)
Total earnings $ 9,146 $ 8,603 $ 8,348 $ 6,437 $ 5,042
Fixed Charges(2)
Interest expense $ 754 $ 630 $ 394 $ 343 $ 169
Estimate of interest in rent expense 54 55 60 37 36
Total fixed charges $ 808 $ 685 $ 454 $ 380 $ 205
Ratio of earnings to fixed charges 11x 13x 18x 17x 25x
(1) The term “earnings” means the amounts resulting from the following: (a) our income before provision for income taxes, plus (b) the noncontrolling
interests in the net income of our majority owned subsidiaries, plus (c) our fixed charges, less (d) our share of our equity investee’s income before
provision for income taxes.
(2) The term “fixed charges” means the amounts resulting from the following: (a) our interest expensed, plus (b) our estimate of the interest component of rent
expense.
We do not report any shares of preferred stock outstanding in our consolidated financial statements because our outstanding preferred stock is owned by one or
more of our wholly-owned subsidiaries. Our ratio of earnings to combined fixed charges and preferred dividends for any given period is equivalent to our ratio of
earnings to fixed charges.
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠