EX-12.01 4 d162575dex1201.htm EX-12.01 EX-12.01

Exhibit 12.01

ORACLE CORPORATION

Consolidated Ratio of Earnings to Fixed Charges

 

     Nine Months Ended      Year Ended May 31,  

(Dollars in millions)

    February 29,
2016		      February 28,
2015		      2015      2014      2013      2012      2011  

Earnings(1)

                     

Income before provision for income taxes

    $ 7,710      $ 9,137      $ 12,834      $ 13,704      $ 13,898      $ 12,962      $ 11,411  

Add: Noncontrolling interests

      95        100        113        98        112        119        97  

Add: Fixed charges

      1,144        850        1,190        968        850        827        875  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    $ 8,949      $ 10,087      $ 14,137      $ 14,770      $ 14,860      $ 13,908      $ 12,383  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed Charges(2)

                     

Interest expense

    $ 1,105      $ 817      $ 1,143      $ 914      $ 797      $ 766      $ 808  

Estimate of interest in rent expense

      39        33        47        54        53        61        67  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    $ 1,144      $ 850      $ 1,190      $ 968      $ 850      $ 827      $ 875  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      8x         12x         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.

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.