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Table of Contents
Item 6. Selected Financial Data
The following table sets forth selected financial data as of and for the last five fiscal years. This selected financial data should be read in
conjunction with the consolidated financial statements and related notes included in Item 15 of this Annual Report. Over the last five fiscal
years, we have acquired a number of companies including Sun Microsystems, Inc. in fiscal 2010, among others. The results of our acquired
companies have been included in our consolidated financial statements since their respective dates of acquisition and have contributed to our
growth in revenues, income, earnings per share and total assets.
34
As of and for the Year Ended May 31,
(in millions, except per share amounts)
2014
2013
2012
2011
2010
Consolidated Statements of Operations Data:
Total revenues
$
38,275
$
37,180
$
37,121
$
35,622
$
26,820
Operating income
$
14,759
$
14,684
$
13,706
$
12,033
$
9,062
Net income
$
10,955
$
10,925
$
9,981
$
8,547
$
6,135
Earnings per share
—
diluted
$
2.38
$
2.26
$
1.96
$
1.67
$
1.21
Diluted weighted average common shares outstanding
4,604
4,844
5,095
5,128
5,073
Cash dividends declared per common share
$
0.48
$
0.30
$
0.24
$
0.21
$
0.20
Consolidated Balance Sheets Data:
Working capital
$
33,749
$
28,820
$
24,635
$
24,982
$
12,313
Total assets
$
90,344
$
81,812
$
78,327
$
73,535
$
61,578
Notes payable and other borrowings
$
24,175
$
18,494
$
16,474
$
15,922
$
14,655
Total working capital sequentially increased in most periods primarily due to the favorable impact to our net current assets resulting from our net income generated during these periods
and the issuances of long-term senior notes of €2.0 billion and $3.0 billion in fiscal 2014, $5.0 billion in fiscal 2013 and $3.25 billion in fiscal 2011. These increases were partially offset
by cash used for acquisitions, repurchases of common stock and dividend payments made in all periods presented and repayments of certain of our senior notes in fiscal 2013, 2011 and
2010.
Our notes payable and other borrowings, which represented the summation of our notes payable, current and other current borrowings, and notes payable and other non-current
borrowings as reported per our consolidated balance sheets as of the dates listed in the table above, increased between fiscal 2010 and 2014 due to the issuances of long-term senior notes
of €2.0 billion and $3.0 billion in fiscal 2014 and $5.0 billion in fiscal 2013, $1.7 billion and $1.15 billion of short-term borrowings made pursuant to our revolving credit agreements in
fiscal 2012 and 2011, respectively, and $3.25 billion of long-term senior notes in fiscal 2011. See Note 8 of Notes to Consolidated Financial Statements, included elsewhere in this
Annual Report, for additional information regarding our notes payable and other borrowings.
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