Oracle 2014 Annual Report Download - page 127

Table of Contents
ORACLE CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
May 31, 2015
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 2015, 2014 and 2013, our Board of Directors declared cash dividends of $0.51, $0.48 and $0.30 per share of our outstanding
common stock, respectively, which we paid during the same period.
In June 2015, our Board of Directors declared a quarterly cash dividend of $0.15 per share of our outstanding common stock payable on July 29,
2015 to stockholders of record as of the close of business on July 8, 2015. 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 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 stockholders, upon the recommendation of our Board of Directors (the Board), approved the adoption of the Amended and
Restated 2000 Long-Term Equity Incentive Plan (the 2000 Plan), which extended the termination date of the 2000 Plan by ten years and
increased the number of authorized shares of stock that may be issued by 388,313,015 shares. In fiscal 2014, our stockholders, upon the
recommendation of our Board, approved a further increase in the number of authorized shares of stock that may be issued under the 2000 Plan
by 305,000,000 shares.
Under the terms of the 2000 Plan, options to purchase common stock are granted at not less than fair market value, become exercisable as
established by the Compensation Committee of the Board (generally 25% annually over four years under our current practice) and generally
expire no more than ten years from the date of grant. Long-term full value awards are granted in the form of restricted stock units (RSUs) and
performance stock units (PSUs). The vesting schedule for RSUs is established by the Compensation Committee and generally requires vesting
25% annually over four years. The vesting schedule for PSUs is also established by the Compensation Committee and currently requires vesting
over four fiscal years, if at all, based on relative performance. For each share granted as a full value award under the 2000 Plan, an equivalent of
2.5 shares is deducted from our pool of shares available for grant. As of May 31, 2015, the 2000 Plan had stock options to purchase 401 million
shares of common stock outstanding of which 215 million shares were vested, 24 million unvested RSUs outstanding and
123
May 31,
(in millions)
2015
2014
Foreign currency translation losses and other, net
$
(851
)
$
(81
)
Unrealized losses on defined benefit plans, net
(304
)
(153
)
Unrealized gains on marketable securities, net
124
65
Unrealized gains on cash flow hedges, net
35
5
Total accumulated other comprehensive loss
$
(996
)
$
(164
)
14.
EMPLOYEE BENEFIT PLANS