Oracle 2013 Annual Report Download - page 123

Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2014
Stock Repurchases
Our Board of Directors has approved a program for us to repurchase shares of our common stock. On June 20, 2013, we announced that our
Board of Directors approved an expansion of our stock repurchase program by an additional $12.0 billion. Approximately $4.3 billion remained
available for stock repurchases as of May 31, 2014, pursuant to our stock repurchase program. We repurchased 280.4 million shares for $9.8
billion (including 2.2 million shares for $94 million that were repurchased but not settled), 346.1 million shares for $11.0 billion and
207.3 million shares for $6.0 billion in fiscal 2014, 2013 and 2012, respectively, under the stock repurchase program.
Our stock repurchase authorization does not have an expiration date and the pace of our repurchase activity will depend on factors such as our
working capital needs, our cash requirements for acquisitions and dividend payments, our debt repayment obligations or repurchase of our debt,
our stock price, and economic and market conditions. Our stock repurchases may be effected from time to time through open market purchases
or pursuant to a Rule 10b5-1 plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.
Dividends on Common Stock
During fiscal 2014, 2013 and 2012, our Board of Directors declared cash dividends of $0.48, $0.30 and $0.24 per share of our outstanding
common stock, respectively, which we paid during the same period.
In June 2014, our Board of Directors declared a quarterly cash dividend of $0.12 per share of our outstanding common stock payable on July 30,
2014 to stockholders of record as of the close of business on July 9, 2014. Future declarations of dividends and the establishment of future record
and payment dates are subject to the final determination of our Board of Directors.
Accumulated Other Comprehensive Loss
The following table summarizes, as of each balance sheet date, the components of our accumulated other comprehensive loss, net of income
taxes:
Stock-based Compensation Plans
Stock Option Plans
In fiscal 2001, we adopted the 2000 Long-Term Equity Incentive Plan, which provides for the issuance of non-qualified stock options and
incentive stock options, as well as stock purchase rights, stock appreciation rights, and long-term performance awards, including restricted stock-
based awards, to our eligible employees, officers and directors who are also employees or consultants, independent consultants and advisers. In
fiscal 2011, our
119
13.
STOCKHOLDERS
’
EQUITY
May 31,
(in millions)
2014
2013
Foreign currency translation losses and other, net
$
(81
)
$
(3
)
Unrealized losses on defined benefit plans, net
(153
)
(176
)
Unrealized gains on marketable securities, net
65
80
Unrealized gains on cash flow hedges, net
5
—
Total accumulated other comprehensive loss
$
(164
)
$
(99
)
14.
EMPLOYEE BENEFIT PLANS