Oracle 2014 Annual Report Download - page 157

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Exhibit 12.01
ORACLE CORPORATION
CONOSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
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.
Year Ended May 31,
(Dollars in millions)
2015
2014
2013
2012
2011
Earnings
(1)
Income before provision for income taxes
$
12,834
$
13,704
$
13,898
$
12,962
$
11,411
Add: Noncontrolling interests
113
98
112
119
97
Add: Fixed charges
1,190
968
850
827
875
Total earnings
$
14,137
$
14,770
$
14,860
$
13,908
$
12,383
Fixed Charges
(2)
Interest expense
$
1,143
$
914
$
797
$
766
$
808
Estimate of interest in rent expense
47
54
53
61
67
Total fixed charges
$
1,190
$
968
$
850
$
827
$
875
Ratio of earnings to fixed charges
12x
15x
17x
17x
14x
(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.