Oracle 2015 Annual Report Download - page 150

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Exhibit 12.01
ORACLE CORPORATION
CONOSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Year Ended May 31,
(Dollars in millions) 2016 2015 2014 2013 2012
Earnings
Income before provision for income taxes $11,442 $12,834 $13,704 $13,898 $12,962
Add: Noncontrolling interests 116 113 98 112 119
Add: Fixed charges 1,506 1,190 968 850 827
Total earnings $13,064 $14,137 $14,770 $14,860 $13,908
Fixed Charges
Interest expense $ 1,467 $ 1,143 $ 914 $ 797 $ 766
Estimate of interest in rent expense 39 47 54 53 61
Total fixed charges $ 1,506 $ 1,190 $ 968 $ 850 $ 827
Ratio of earnings to fixed charges 9x 12x 15x 17x 17x
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.
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.
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.
(1)
(2)
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