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Oracle Corp. (ORCL)


Income Statement

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Oracle Corp., consolidated income statement

US$ in millions

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12 months ended May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014
Cloud services and license support 26,707  26,254  23,800  21,714  20,940  19,783 
Cloud license and on-premise license 5,855  6,190  6,418  7,276  8,535  9,416 
Hardware 3,704  3,993  4,152  4,668  5,205  5,372 
Services 3,240  3,394  3,358  3,389  3,546  3,704 
Revenues 39,506  39,831  37,728  37,047  38,226  38,275 
Cloud services and license support (3,782) (3,612) (3,015) (2,664) (2,316) (1,925)
Hardware (1,360) (1,581) (1,653) (2,064) (2,287) (2,357)
Services (2,853) (2,888) (2,801) (2,751) (2,929) (2,954)
Cost of revenues (7,995) (8,081) (7,469) (7,479) (7,532) (7,236)
Gross profit 31,511  31,750  30,259  29,568  30,694  31,039 
Sales and marketing (8,509) (8,431) (8,197) (7,884) (7,655) (7,567)
Research and development (6,026) (6,091) (6,159) (5,787) (5,524) (5,151)
General and administrative (1,265) (1,289) (1,176) (1,155) (1,077) (1,038)
Amortization of intangible assets (1,689) (1,620) (1,451) (1,638) (2,149) (2,300)
Transitional and other employee related costs (49) (48) (41) (45) (57) (27)
Stock-based compensation —  (1) (35) (3) (5) (10)
Professional fees and other, net (16) (3) (33) (10) 35  (20)
Business combination adjustments, net 21  —  16  (184) 16 
Acquisition related and other (44) (52) (103) (42) (211) (41)
Restructuring (443) (588) (463) (458) (207) (183)
Operating income 13,535  13,679  12,710  12,604  13,871  14,759 
Interest expense (2,082) (2,025) (1,798) (1,467) (1,143) (914)
Interest income 1,092  1,201  802  538  349  263 
Foreign currency losses, net (111) (74) (152) (110) (157) (375)
Other income (loss), net (14) 245  73  (7) 27  69 
Non-operating income (expense), net, excluding noncontrolling interests in income 967  1,372  723  421  219  (43)
Income before provision for income taxes and noncontrolling interests in income 12,420  13,026  11,635  11,558  12,947  13,802 
Provision for income taxes (1,185) (9,066) (2,182) (2,541) (2,896) (2,749)
Net income before noncontrolling interests in income 11,235  3,960  9,453  9,017  10,051  11,053 
Noncontrolling interests in income (152) (135) (118) (116) (113) (98)
Net income 11,083  3,825  9,335  8,901  9,938  10,955 

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).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Oracle Corp.’s revenues increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Oracle Corp.’s operating income increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Income before provision for income taxes and noncontrolling interests in income Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Oracle Corp.’s income before provision for income taxes and noncontrolling interests in income increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Oracle Corp.’s net income decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.