Oracle 2009 Annual Report Download - page 94

Table of Contents
ORACLE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended May 31, 2010, 2009 and 2008
Year Ended May 31,
(in millions) 2010 2009 2008
Cash Flows From Operating Activities:
Net income $ 6,135 $ 5,593 $ 5,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 298 263 268
Amortization of intangible assets 1,973 1,713 1,212
Allowances for doubtful accounts receivable 143 118 164
Deferred income taxes (511) (395) (135)
Stock-based compensation 436 355 369
Tax benefits on the exercise of stock options and vesting of restricted stock-based awards 203 252 588
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards (110) (194) (454)
Other, net 13 185 18
Changes in operating assets and liabilities, net of effects from acquisitions:
(Increase) decrease in trade receivables, net (362) 336 (825)
Decrease in inventories 73 — —
Decrease (increase) in prepaid expenses and other assets 340 145 (191)
Decrease in accounts payable and other liabilities (360) (691) (153)
(Decrease) increase in income taxes payable (79) 142 368
Increase in deferred revenues 489 433 652
Net cash provided by operating activities 8,681 8,255 7,402
Cash Flows From Investing Activities:
Purchases of marketable securities and other investments (15,703) (9,315) (5,624)
Proceeds from maturities and sales of marketable securities and other investments 11,220 8,404 4,281
Acquisitions, net of cash acquired (5,606) (1,159) (7,643)
Capital expenditures (230) (529) (243)
Proceeds from sale of property — — 153
Net cash used for investing activities (10,319) (2,599) (9,076)
Cash Flows From Financing Activities:
Payments for repurchases of common stock (992) (3,972) (2,023)
Proceeds from issuances of common stock 874 760 1,288
Payment of dividends to stockholders (1,004) (250) —
Proceeds from borrowings, net of issuance costs 7,220 — 6,171
Repayments of borrowings (3,582) (1,004) (2,560)
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards 110 194 454
Distributions to noncontrolling interests (59) (53) (49)
Other, net 97 (97) —
Net cash provided by (used for) financing activities 2,664 (4,422) 3,281
Effect of exchange rate changes on cash and cash equivalents (107) (501) 437
Net increase in cash and cash equivalents 919 733 2,044
Cash and cash equivalents at beginning of period 8,995 8,262 6,218
Cash and cash equivalents at end of period $ 9,914 $ 8,995 $ 8,262
Non-cash investing and financing transactions:
Fair value of stock options and restricted stock-based awards assumed in connection with acquisitions $ 100 $ 1 $ 240
Decrease in unsettled repurchases of common stock $ — $ (12) $ (23)
Supplemental schedule of cash flow data:
Cash paid for income taxes $ 2,488 $ 2,170 $ 1,687
Cash paid for interest $ 652 $ 627 $ 347
See notes to consolidated financial statements.
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Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠