Oracle 2010 Annual Report Download - page 94

Table of Contents
ORACLE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended May 31, 2011, 2010 and 2009
Year Ended May 31,
(in millions) 2011 2010 2009
Cash Flows From Operating Activities:
Net income $ 8,547 $ 6,135 $ 5,593
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 368 298 263
Amortization of intangible assets 2,428 1,973 1,713
Allowances for doubtful accounts receivable 164 143 118
Deferred income taxes (253) (511) (395)
Stock-based compensation 510 436 355
Tax benefits on the exercise of stock options and vesting of restricted stock- based awards 325 203 252
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards (215) (110) (194)
Other, net 68 13 185
Changes in operating assets and liabilities, net of effects from acquisitions:
(Increase) decrease in trade receivables (729) (362) 336
(Increase) decrease in inventories (28) 73 —
Decrease in prepaid expenses and other assets 14 340 145
Decrease in accounts payable and other liabilities (120) (360) (691)
(Decrease) increase in income taxes payable (96) (79) 142
Increase in deferred revenues 231 489 433
Net cash provided by operating activities 11,214 8,681 8,255
Cash Flows From Investing Activities:
Purchases of marketable securities and other investments (31,009) (15,703) (9,315)
Proceeds from maturities and sales of marketable securities and other investments 27,120 11,220 8,404
Acquisitions, net of cash acquired (1,847) (5,606) (1,159)
Capital expenditures (450) (230) (529)
Proceeds from sale of property 105 — —
Net cash used for investing activities (6,081) (10,319) (2,599)
Cash Flows From Financing Activities:
Payments for repurchases of common stock (1,160) (992) (3,972)
Proceeds from issuances of common stock 1,376 874 760
Payments of dividends to stockholders (1,061) (1,004) (250)
Proceeds from borrowings, net of issuance costs 4,354 7,220 —
Repayments of borrowings (3,143) (3,582) (1,004)
Excess tax benefits on the exercise of stock options and vesting of restricted stock-based awards 215 110 194
Distributions to noncontrolling interests (65) (59) (53)
Other, net — 97 (97)
Net cash provided by (used for) financing activities 516 2,664 (4,422)
Effect of exchange rate changes on cash and cash equivalents 600 (107) (501)
Net increase in cash and cash equivalents 6,249 919 733
Cash and cash equivalents at beginning of period 9,914 8,995 8,262
Cash and cash equivalents at end of period $ 16,163 $ 9,914 $ 8,995
Non-cash investing and financing transactions:
Fair value of stock options and restricted stock-based awards assumed in connection with acquisitions $ 17 $ 100 $ 1
Increase (decrease) in unsettled repurchases of common stock $ 12 $ — $ (12)
Supplemental schedule of cash flow data:
Cash paid for income taxes $ 2,931 $ 2,488 $ 2,170
Cash paid for interest $ 770 $ 652 $ 627
See notes to consolidated financial statements.
90
Source: ORACLE CORP, 10-K, June 28, 2011 Powered by Morningstar® Document Research℠