ORACLE  CORPORATION 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Nine Months Ended February 28,

2022

2021

Cash Flows From Operating Activities:

Net income 

$        3,528

$        9,714

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

1,409

1,127

Amortization of intangible assets

882

1,037

Deferred income taxes

(983)

(2,475)

Stock-based compensation

1,900

1,395

Other, net

82

227

Changes in operating assets and liabilities, net of effects from acquisitions:

Decrease in trade receivables, net

652

1,089

Decrease in prepaid expenses and other assets

71

609

Decrease in accounts payable and other liabilities

(683)

(247)

Decrease in income taxes payable

(661)

(1,181)

Decrease in deferred revenues

(643)

(250)

Net cash provided by operating activities

11,045

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(10,134)

(26,775)

Proceeds from sales and maturities of marketable securities and other investments

25,735

19,035

Acquisitions, net of cash acquired

(132)

(29)

Capital expenditures

(3,088)

(1,418)

Net cash provided by (used for) investing activities

12,381

(9,187)

Cash Flows From Financing Activities:

Payments for repurchases of common stock

(15,654)

(12,958)

Proceeds from issuances of common stock

357

915

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(1,011)

(597)

Payments of dividends to stockholders

(2,603)

(2,146)

Repayments of borrowings

(5,750)

(2,631)

Other, net

(439)

241

Net cash used for financing activities

(25,100)

(17,176)

Effect of exchange rate changes on cash and cash equivalents

400

Net decrease in cash and cash equivalents

(7,416)

(14,918)

Cash and cash equivalents at beginning of period

30,098

37,239

Cash and cash equivalents at end of period

$      22,682

$      22,321