Oracle 2010 Annual Report Download - page 149

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Exhibit 12.01
ORACLE CORPORATION
Consolidated Ratio of Earnings to Fixed Charges
(Unaudited)
Year Ended May 31,
(Dollars in millions) 2011 2010 2009 2008 2007
Earnings(1)
Income before provision for income taxes $ 11,411 $ 8,243 $ 7,834 $ 7,834 $ 5,986
Add: Noncontrolling interests 97 95 84 60 71
Add: Fixed charges 875 808 685 454 380
Total earnings $ 12,383 $ 9,146 $ 8,603 $ 8,348 $ 6,437
Fixed Charges(2)
Interest expense $ 808 $ 754 $ 630 $ 394 $ 343
Estimate of interest in rent expense 67 54 55 60 37
Total fixed charges $ 875 $ 808 $ 685 $ 454 $ 380
Ratio of earnings to fixed charges 14x 11x 13x 18x 17x
(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.
(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, June 28, 2011 Powered by Morningstar® Document Research℠