Oracle 2009 Annual Report Download - page 197
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CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
(USD $)
12 Months Ended
05/31/2010
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES 3. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES
Cash and cash equivalents primarily consist of deposits held at major banks, money
market funds, Tier-1 commercial paper, U.S. Treasury obligations, U.S. government
agency and government sponsored enterprise obligations, and other securities with
original maturities of 90 days or less. Marketable securities primarily consist of time
deposits held at major banks, Tier-1 commercial paper, corporate notes, U.S. Treasury
obligations and U.S. government agency and government sponsored enterprise debt
obligations and certain other securities.
The amortized principal amounts of our cash, cash equivalents and marketable securities
approximated their fair values at May 31, 2010 and 2009. We use the specific
identification method to determine any realized gains or losses from the sale of our
marketable securities classified as available-for-sale. Such realized gains and losses
were insignificant for fiscal 2010, 2009 and 2008. The following table summarizes the
components of our cash equivalents and marketable securities held, substantially all of
which were classified as available-for-sale:
May 31,
(in millions) 2010 2009
Money market funds $ 2,423 $ 467
U.S. Treasury, U.S. government and U.S. government
agency debt securities
3,010 4,078
Commercial paper, corporate debt securities and other 5,634 2,700
Total investments $ 11,067 $ 7,245
Investments classified as cash equivalents $ 2,512 $ 3,616
Investments classified as marketable securities $ 8,555 $ 3,629
Substantially all of our marketable security investments held as of May 31, 2010 mature
within one year. Our investment portfolio is subject to market risk due to changes in
interest rates. We place our investments with high credit quality issuers as described
above and, by policy, limit the amount of credit exposure to any one issuer. As stated in
our investment policy, we are averse to principal loss and seek to preserve our invested
funds by limiting default risk, market risk and reinvestment risk.
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠