Stock Analysis on Net

Oracle Corp. (NYSE:ORCL)

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

Oracle Corp., adjusted current assets

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Current assets 21,004 31,633 55,567 52,140 46,386 75,964
Adjustments
Add: Allowances for credit losses 428 362 373 409 371 370
After Adjustment
Adjusted current assets 21,432 31,995 55,940 52,549 46,757 76,334

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).


Adjustments to Total Assets

Oracle Corp., adjusted total assets

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Total assets 134,384 109,297 131,107 115,438 108,709 137,264
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 2,158 1,462
Add: Allowances for credit losses 428 362 373 409 371 370
Less: Non-current deferred tax assets2 12,226 12,782 13,636 3,252 2,696 1,491
After Adjustment
Adjusted total assets 122,586 96,877 117,844 112,595 108,542 137,605

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Non-current deferred tax assets. See details »


Adjustments to Current Liabilities

Oracle Corp., adjusted current liabilities

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Current liabilities 23,090 19,511 24,164 17,200 18,630 19,195
Adjustments
Less: Deferred revenues, current 8,970 8,357 8,775 8,002 8,374 8,429
Less: Restructuring plans accrued, current 199 131 225 150 239 257
After Adjustment
Adjusted current liabilities 13,921 11,023 15,164 9,048 10,017 10,509

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).


Adjustments to Total Liabilities

Oracle Corp., adjusted total liabilities

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Total liabilities 132,828 115,065 125,155 102,721 86,346 91,040
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 2,158 1,462
Less: Non-current deferred tax liabilities2 5,772 6,031 7,864 41 264 57
Less: Deferred revenues 9,938 9,110 9,454 8,599 9,043 9,054
Less: Restructuring plans accrued 199 131 225 151 262 282
After Adjustment
Adjusted total liabilities 116,919 99,793 107,612 93,930 78,935 83,109

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Non-current deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Oracle Corp., adjusted total Oracle Corporation stockholders’ equity (deficit)

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Total Oracle Corporation stockholders’ equity (deficit) 1,073 (6,220) 5,238 12,074 21,785 45,726
Adjustments
Less: Net deferred tax assets (liabilities)1 6,454 6,751 5,772 3,211 2,432 1,434
Add: Allowances for credit losses 428 362 373 409 371 370
Add: Deferred revenues 9,938 9,110 9,454 8,599 9,043 9,054
Add: Restructuring plans accrued 199 131 225 151 262 282
Add: Noncontrolling interests 483 452 714 643 578 498
After Adjustment
Adjusted total stockholders’ equity (deficit) 5,667 (2,916) 10,232 18,665 29,607 54,496

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Oracle Corp., adjusted capitalization table

US$ in millions

Microsoft Excel
May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Notes payable and other borrowings, current 4,061 3,749 8,250 2,371 4,494 4,491
Notes payable and other borrowings, non-current 86,420 72,110 75,995 69,226 51,673 56,128
Total reported debt 90,481 75,859 84,245 71,597 56,167 60,619
Total Oracle Corporation stockholders’ equity (deficit) 1,073 (6,220) 5,238 12,074 21,785 45,726
Total reported capital 91,554 69,639 89,483 83,671 77,952 106,345
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 2,158 1,462
Add: Current lease liabilities for operating leases2 865 727 664 575
Add: Non-current lease liabilities for operating leases3 3,984 2,931 2,118 1,523
Adjusted total debt 95,330 79,517 87,027 73,695 58,325 62,081
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 6,454 6,751 5,772 3,211 2,432 1,434
Add: Allowances for credit losses 428 362 373 409 371 370
Add: Deferred revenues 9,938 9,110 9,454 8,599 9,043 9,054
Add: Restructuring plans accrued 199 131 225 151 262 282
Add: Noncontrolling interests 483 452 714 643 578 498
Adjusted total stockholders’ equity (deficit) 5,667 (2,916) 10,232 18,665 29,607 54,496
After Adjustment
Adjusted total capital 100,997 76,601 97,259 92,360 87,932 116,577

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current lease liabilities for operating leases. See details »

3 Non-current lease liabilities for operating leases. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Oracle Corp., adjusted revenues

US$ in millions

Microsoft Excel
12 months ended: May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Revenues 49,954 42,440 40,479 39,068 39,506 39,831
Adjustment
Add: Increase (decrease) in deferred revenues 828 (344) 855 (444) 77 219
After Adjustment
Adjusted revenues 50,782 42,096 41,334 38,624 39,583 40,050

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).


Adjustments to Reported Income

Oracle Corp., adjusted net income

US$ in millions

Microsoft Excel
12 months ended: May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018
As Reported
Net income 8,503 6,717 13,746 10,135 11,083 3,825
Adjustments
Add: Deferred income tax expense (benefit)1 (2,167) (1,146) (2,425) (851) (1,191) (611)
Add: Increase (decrease) in allowances for credit losses 66 (11) (36) 38 1 51
Add: Increase (decrease) in deferred revenues 828 (344) 855 (444) 77 219
Add: Increase (decrease) in restructuring plans accrued 68 (94) 74 (111) (20) 18
Add: Other comprehensive income (loss), net of tax 170 (517) 541 (88) 61 (833)
After Adjustment
Adjusted net income before noncontrolling interests in income 7,468 4,605 12,755 8,679 10,011 2,669

Based on: 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31).

1 Deferred income tax expense (benefit). See details »