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Oracle Corp. (NYSE:ORCL)

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Analysis of Inventory

Advanced level

Accounting Policy on Inventory

Inventories are stated at the lower of cost or net realizable value. Cost is computed using standard cost, which approximates actual cost, on a first-in, first-out basis. Oracle evaluates the ending inventories for estimated excess quantities and obsolescence. This evaluation includes analysis of sales levels by product and projections of future demand within specific time horizons (generally six to nine months). Inventories in excess of future demand are written down and charged to hardware expenses. In addition, Oracle assesses the impact of changing technology to the inventories and Oracle writes down inventories that are considered obsolete. At the point of loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. Inventories are included in prepaid expenses and other current assets in Oracle’s consolidated balance sheets and totaled $320 million and $398 million at May 31, 2019 and 2018, respectively.

Source: 10-K (filing date: 2019-06-21).

Inventory Disclosure

Oracle Corp., balance sheet: inventory

US$ in millions

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May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014

Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-22), 10-K (filing date: 2015-06-25), 10-K (filing date: 2014-06-26).

Item Description The company
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Oracle Corp.’s inventories increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.