Oracle (ORCL) 10-Q 13 Dec 19 2020 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Nov. 30, 2019	Dec. 09, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2019
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Registrant Name	Oracle Corporation
Entity Central Index Key	0001341439
Current Fiscal Year End Date	--05-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		3,207,649,000
Entity File Number	001-35992
Entity Tax Identification Number	54-2185193
Entity Address Postal Zip Code	94065
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Address, Address Line One	500 Oracle Parkway
Entity Address, City or Town	Redwood City
Entity Address State Or Province	CA
City Area Code	650
Local Phone Number	506-7000
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ORCL
Security Exchange Name	NYSE
2.25% senior notes due January 2021
Document Information [Line Items]
Title of 12(b) Security	2.25% senior notes due January 2021
Trading Symbol	0
Security Exchange Name	NYSE
3.125% senior notes due July 2025
Document Information [Line Items]
Title of 12(b) Security	3.125% senior notes due July 2025
Trading Symbol	0
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Current assets:
Cash and cash equivalents	$ 24,540	$ 20,514
Marketable securities	2,904	17,313
Trade receivables, net of allowances for doubtful accounts of $373 and $371 as of November 30, 2019 and May 31, 2019, respectively	4,050	5,134
Prepaid expenses and other current assets	3,046	3,425
Total current assets	34,540	46,386
Non-current assets:
Property, plant and equipment, net	6,270	6,252
Intangible assets, net	4,492	5,279
Goodwill, net	43,810	43,779
Deferred tax assets	2,751	2,696
Other non-current assets	6,580	4,317
Total non-current assets	63,903	62,323
Total assets	98,443	108,709
Current liabilities:
Notes payable, current	999	4,494
Accounts payable	534	580
Accrued compensation and related benefits	1,312	1,628
Deferred revenues	8,087	8,374
Other current liabilities	3,660	3,554
Total current liabilities	14,592	18,630
Non-current liabilities:
Notes payable and other borrowings, non-current	50,670	51,673
Income taxes payable	13,042	13,295
Other non-current liabilities	3,954	2,748
Total non-current liabilities	67,666	67,716
Commitments and contingencies	0	0
Oracle Corporation stockholders’ equity:
Preferred stock, $0.01 par value—authorized: 1.0 shares; outstanding: none	0	0
Common stock, $0.01 par value and additional paid in capital—authorized: 11,000 shares; outstanding: 3,214 shares and 3,359 shares as of November 30, 2019 and May 31, 2019, respectively	26,374	26,909
Accumulated deficit	(9,174)	(3,496)
Accumulated other comprehensive loss	(1,637)	(1,628)
Total Oracle Corporation stockholders’ equity	15,563	21,785
Noncontrolling interests	622	578
Total equity	16,185	22,363
Total liabilities and equity	$ 98,443	$ 108,709

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 373	$ 371
Preferred stock par value per share	$ 0.01	$ 0.01
Preferred stock shares authorized	1,000,000	1,000,000
Preferred stock shares outstanding	0	0
Common stock par value per share	$ 0.01	$ 0.01
Common stock shares authorized	11,000,000,000	11,000,000,000
Common stock shares outstanding	3,214,000,000	3,359,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Revenues:
Cloud services and license support		$ 6,811	$ 6,637	$ 13,616	$ 13,246
Cloud license and on-premise license		1,126	1,217	1,937	2,083
Hardware		871	891	1,686	1,796
Services		806	817	1,593	1,630
Total revenues		9,614	9,562	18,832	18,755
Operating expenses:
Cloud services and license support	[1]	1,022	956	2,003	1,870
Hardware	[1]	285	332	557	658
Services	[1]	741	713	1,445	1,428
Sales and marketing	[1]	2,068	2,101	4,086	4,140
Research and development		1,531	1,475	3,088	3,039
General and administrative		323	299	615	619
Amortization of intangible assets		407	424	821	858
Acquisition related and other		12	18	37	32
Restructuring		42	143	120	233
Total operating expenses		6,431	6,461	12,772	12,877
Operating income		3,183	3,101	6,060	5,878
Interest expense		(465)	(519)	(959)	(1,048)
Non-operating income, net		92	192	191	484
Income before provision for income taxes		2,810	2,774	5,292	5,314
Provision for income taxes		499	441	844	716
Net income		$ 2,311	$ 2,333	$ 4,448	$ 4,598
Earnings per share:
Basic		$ 0.71	$ 0.63	$ 1.36	$ 1.21
Diluted		$ 0.69	$ 0.61	$ 1.32	$ 1.18
Weighted average common shares outstanding:
Basic		3,245	3,720	3,281	3,812
Diluted		3,331	3,817	3,370	3,908
[1]	Exclusive of amortization of intangible assets, which is shown separately.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 2,311	$ 2,333	$ 4,448	$ 4,598
Other comprehensive loss, net of tax:
Net foreign currency translation losses	(84)	(97)	(92)	(158)
Net unrealized gains on defined benefit plans	7	7	11	13
Net unrealized gains (losses) on marketable securities	3	(117)	88	(113)
Net unrealized gains (losses) on cash flow hedges	8	8	(16)	(18)
Total other comprehensive loss, net	(66)	(199)	(9)	(276)
Comprehensive income	$ 2,245	$ 2,134	$ 4,439	$ 4,322

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Common Stock and Additional Paid in Capital	(Accumulated deficit) Retained Earnings	Other Equity, Net
Balance, beginning of period at May. 31, 2018		$ 28,950	$ 19,111	$ (1,188)
Cumulative-effect of accounting change			(110)
Other comprehensive loss, net	$ (276)			(276)
Common stock issued		1,026
Stock-based compensation		832
Repurchase of common stock	(20,000)	(2,963)	(17,038)
Cash dividends declared			(1,456)
Net income			4,598
Other, net		(415)	2	(18)
Balance, end of period at Nov. 30, 2018	$ 31,055	27,430	5,107	(1,482)
Cash dividends declared per common share	$ 0.38
Balance, beginning of period at Aug. 31, 2018		27,811	12,022	(1,269)
Cumulative-effect of accounting change			0
Other comprehensive loss, net	$ (199)			(199)
Common stock issued		727
Stock-based compensation		396
Repurchase of common stock		(1,467)	(8,534)
Cash dividends declared			(714)
Net income			2,333
Other, net		(37)	0	(14)
Balance, end of period at Nov. 30, 2018	$ 31,055	27,430	5,107	(1,482)
Cash dividends declared per common share	$ 0.19
Balance, beginning of period at May. 31, 2019	$ 22,363	26,909	(3,496)	(1,050)
Cumulative-effect of accounting change			0
Other comprehensive loss, net	(9)			(9)
Common stock issued		617
Stock-based compensation		843
Repurchase of common stock	(10,000)	(1,434)	(8,566)
Cash dividends declared			(1,562)
Net income			4,448
Other, net		(561)	2	44
Balance, end of period at Nov. 30, 2019	$ 16,185	26,374	(9,174)	(1,015)
Cash dividends declared per common share	$ 0.48
Balance, beginning of period at Aug. 31, 2019		26,450	(6,446)	(985)
Cumulative-effect of accounting change			0
Other comprehensive loss, net	$ (66)			(66)
Common stock issued		301
Stock-based compensation		397
Repurchase of common stock		(727)	(4,273)
Cash dividends declared			(767)
Net income			2,311
Other, net		(47)	1	36
Balance, end of period at Nov. 30, 2019	$ 16,185	$ 26,374	$ (9,174)	$ (1,015)
Cash dividends declared per common share	$ 0.24

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018
Cash flows from operating activities:
Net income	$ 4,448	$ 4,598
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	677	566
Amortization of intangible assets	821	858
Deferred income taxes	(263)	(228)
Stock-based compensation	843	832
Other, net	117	118
Changes in operating assets and liabilities, net of effects from acquisitions:
Decrease in trade receivables, net	1,079	1,116
Decrease in prepaid expenses and other assets	638	327
Decrease in accounts payable and other liabilities	(916)	(364)
Decrease in income taxes payable	(613)	(679)
(Decrease) increase in deferred revenues	(318)	124
Net cash provided by operating activities	6,513	7,268
Cash flows from investing activities:
Purchases of marketable securities and other investments	(314)	(1,278)
Proceeds from maturities of marketable securities and other investments	2,204	6,737
Proceeds from sales of marketable securities	12,575	1,110
Acquisitions, net of cash acquired	(111)	(313)
Capital expenditures	(735)	(804)
Net cash provided by investing activities	13,619	5,452
Cash flows from financing activities:
Payments for repurchases of common stock	(9,996)	(19,924)
Proceeds from issuances of common stock	617	1,018
Shares repurchased for tax withholdings upon vesting of restricted stock-based awards	(559)	(417)
Payments of dividends to stockholders	(1,562)	(1,456)
Repayments of borrowings	(4,500)	(2,500)
Other, net	(96)	(77)
Net cash used for financing activities	(16,096)	(23,356)
Effect of exchange rate changes on cash and cash equivalents	(10)	(160)
Net increase (decrease) in cash and cash equivalents	4,026	(10,796)
Cash and cash equivalents at beginning of period	20,514	21,620
Cash and cash equivalents at end of period	24,540	10,824
Non-cash investing and financing transactions:
Fair values of stock awards assumed in connection with acquisitions	0	8
Change in unsettled repurchases of common stock	4	77
Change in unsettled investment sales	$ 0	$ (332)

BASIS OF PRESENTATION, RECENT A

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER	6 Months Ended
	Nov. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER	1. BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER Basis of Presentation We have prepared the condensed consolidated financial statements included herein pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. However, we believe that the disclosures herein are adequate to ensure the information presented is not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019. We believe that all necessary adjustments, which consisted only of normal recurring items, have been included in the accompanying financial statements to present fairly the results of the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for our fiscal year ending May 31, 2020. During the first half of fiscal 2020, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) Leases We determine if an arrangement is a lease at its inception. Operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. We generally use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments, because the implicit rate of the lease is generally not known. ROU assets related to our operating lease liabilities are measured at lease inception based on the initial measurement of the lease liability, plus any prepaid lease payments and less any lease incentives. Our lease terms that are used in determining our operating lease liabilities at lease inception may include options to extend or terminate the leases when it is reasonably certain that we will exercise such options. We amortize our ROU assets as operating lease expense generally on a straight-line basis over the lease term and classify both the lease amortization and imputed interest as operating expenses. We have lease agreements with lease and non-lease components, and in such cases, we generally account for the components as a single lease component. We have operating leases that primarily relate to certain of our facilities, data centers and vehicles. As of November 30, 2019, our operating leases substantially have remaining terms of one year to twelve years, some of which include options to extend and/or terminate the leases. We do not recognize lease assets and lease liabilities for any lease with an original lease term of less than one year. At November 30, 2019, ROU assets of $1.9 billion related to our operating leases are included in other non-current assets; and operating lease liabilities of $584 million are included in other current liabilities, and $1.4 billion are included in other non-current liabilities in our condensed consolidated balance sheets. Cash flow movements related to our lease activities are included in prepaid expenses and other assets and accounts payable and other liabilities as presented in net cash provided by operating activities in our condensed consolidated statement of cash flows for the six months ended November 30, 2019. For the three and six months ended November 30, 2019, operating lease expenses totaled $150 million and $298 million, respectively, net of sublease income of $4 million and $8 million, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $156 million and $304 million for three and six months ended November 30, 2019, respectively. We recorded ROU assets of $2.2 billion in exchange for operating lease obligations during the six months ended November 30, 2019, which included $1.9 billion for operating leases existing on June 1, 2019 that were recognized upon our initial adoption of Topic 842 and $301 million for operating leases that were contracted during the first half of fiscal 2020. As of November 30, 2019, the weighted average remaining lease term for operating leases was approximately five years and the weighted average discount rate used for calculating operating lease obligations was 3.2%. Maturities of operating lease liabilities were as follows as of November 30, 2019 (in millions): Remainder of fiscal 2020 $ 347 Fiscal 2021 561 Fiscal 2022 442 Fiscal 2023 287 Fiscal 2024 187 Fiscal 2025 135 Thereafter 234 Total operating lease payments 2,193 Less: imputed interest (200 ) Total operating lease liability $ 1,993 Remaining Performance Obligations from Contracts with Customers Trade receivables, net of allowance for doubtful accounts, and deferred revenues are reported net of related uncollected deferred revenues in our condensed consolidated balance sheets as of November 30, 2019 and May 31, 2019. The revenues recognized during the six months ended November 30, 2019 and 2018, respectively, that were included in the opening deferred revenues balance as of May 31, 2019 and 2018, respectively, were approximately $6.2 billion during each period. Revenues recognized from performance obligations satisfied in prior periods and impairment losses recognized on our receivables were immaterial in each of the three and six months ended November 30, 2019 and 2018, respectively. Remaining performance obligations, as defined in Note 1 of Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019, were $32.8 billion as of November 30, 2019, approximately 60% of which we expect to recognize as revenues over the next twelve months and the remainder thereafter. Sales of Financing Receivables We offer certain of our customers the option to acquire our software products, hardware products and services offerings through separate long-term payment contracts. We generally sell these contracts that we have financed for our customers on a non-recourse basis to financial institutions within 90 days of the contracts’ dates of execution. We record the transfers of amounts due from customers to financial institutions as sales of financing receivables because we are considered to have surrendered control of these financing receivables. Financing receivables sold to financial institutions were $196 million and $876 million for the three and six months ended November 30, 2019, respectively, and $216 million and $1.0 billion for the three and six months ended November 30, 2018, respectively. Cash, Cash Equivalents and Restricted Cash Restricted cash that was included within cash and cash equivalents as presented within our condensed consolidated balance sheets as of November 30, 2019 and May 31, 2019 and our condensed consolidated statements of cash flows for the six months ended November 30, 2019 and 2018 was nominal. Acquisition Related and Other Expenses Acquisition related and other expenses primarily consist of personnel related costs for transitional and certain other employees, integration related professional services, certain business combination adjustments including adjustments after the measurement period has ended and certain other operating items, net. Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Transitional and other employee related costs $ 3 $ 11 $ 7 $ 25 Business combination adjustments, net (4 ) 3 2 1 Other, net 13 4 28 6 Total acquisition related and other expenses $ 12 $ 18 $ 37 $ 32 Non-Operating Income, net Non-operating income, net consists primarily of interest income, net foreign currency exchange losses, the noncontrolling interests in the net profits of our majority-owned subsidiaries (primarily Oracle Financial Services Software Limited and Oracle Corporation Japan) and net other income, including net realized gains and losses related to all of our investments, net unrealized gains and losses related to the small portion of our investment portfolio related to our deferred compensation plan, net unrealized gains and losses related to certain equity securities and non-service net periodic pension income (losses). Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Interest income $ 145 $ 296 $ 335 $ 644 Foreign currency losses, net (26 ) (22 ) (80 ) (55 ) Noncontrolling interests in income (46 ) (32 ) (87 ) (71 ) Other income (loss), net 19 (50 ) 23 (34 ) Total non-operating income, net $ 92 $ 192 $ 191 $ 484 Recent Accounting Pronouncements Financial Instruments: In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13) and also issued subsequent amendments to the initial guidance (collectively, Topic 326). Topic 326 requires measurement and recognition of expected credit losses for financial assets held. Topic 326 is effective for us in our first quarter of fiscal 2021, and earlier adoption is permitted beginning in the first quarter of fiscal 2020. We are currently evaluating the impact of our pending adoption of Topic 326 on our consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Nov. 30, 2019
Business Combinations [Abstract]
ACQUISITIONS	2. ACQUISITIONS Fiscal 2020 and 2019 Acquisitions During the first half of fiscal 2020 and full year of fiscal 2019, we acquired certain companies and purchased certain technology and development assets primarily to expand our products and services offerings

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Nov. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	3. FAIR VALUE MEASUREMENTS We perform fair value measurements in accordance with FASB Accounting Standards Codification (ASC) 820, Fair Value Measurement ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. An asset’s or a liability’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value: • Level 1: quoted prices in active markets for identical assets or liabilities; • Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or • Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair values of the assets or liabilities. Assets and Liabilities Measured at Fair Value on a Recurring Basis Our assets and liabilities measured at fair value on a recurring basis consisted of the following (Level 1 and Level 2 inputs are defined above): November 30, 2019 May 31, 2019 Fair Value Measurements Using Input Types Fair Value Measurements Using Input Types (in millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Corporate debt securities and other $ 50 $ 2,910 $ 2,960 $ 4,899 $ 17,343 $ 22,242 Commercial paper debt securities — 13,787 13,787 — — — Money market funds — — — 5,700 — 5,700 Derivative financial instruments — 12 12 — 5 5 Total assets $ 50 $ 16,709 $ 16,759 $ 10,599 $ 17,348 $ 27,947 Liabilities: Derivative financial instruments $ — $ 269 $ 269 $ — $ 230 $ 230 We classify our marketable securities as available-for-sale debt securities at the time of purchase and reevaluate such classification as of each balance sheet date. Our marketable securities investments consist of Tier 1 commercial paper debt securities, corporate debt securities and certain other securities. Marketable securities as presented per our condensed consolidated balance sheets included securities with original maturities at the time of purchase greater than three months and the remainder of the securities were included in cash and cash equivalents. As of November 30, 2019 and May 31, 2019, approximately 88% and 33%, respectively, of our marketable securities investments mature within one year and 12% and 67%, respectively, mature within one to four years. Our valuation techniques used to measure the fair values of our instruments that were classified as Level 1 in the table above were derived from quoted market prices and active markets for these instruments that exist. Our valuation techniques used to measure the fair values of Level 2 instruments listed in the table above, the counterparties to which have high credit ratings, were derived from the following: non-binding market consensus prices that were corroborated by observable market data, quoted market prices for similar instruments, or pricing models, such as discounted cash flow techniques, with all significant inputs derived from or corroborated by observable market data including LIBOR-based yield curves, among others. Based on the trading prices of the $51.6 billion and $56.1 billion of senior notes and the related fair value hedges that we had outstanding as of November 30, 2019 and May 31, 2019, respectively, the estimated fair values of the senior notes and the related fair value hedges using Level 2 inputs at November 30, 2019 and May 31, 2019 were $56.6 billion and $58.4 billion, respectively.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Nov. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	4. INTANGIBLE ASSETS AND GOODWILL The changes in intangible assets for fiscal 2020 and the net book value of intangible assets as of November 30, 2019 and May 31, 2019 were as follows: Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Weighted Average Useful Life (2) (Dollars in millions) May 31, 2019 Additions & Adjustments, net (1) November 30, 2019 May 31, 2019 Expense November 30, 2019 May 31, 2019 November 30, 2019 Developed technology $ 5,406 $ 17 $ 5,423 $ (3,467 ) $ (415 ) $ (3,882 ) $ 1,939 $ 1,541 5 Cloud services and license support agreements and related relationships 5,693 15 5,708 (2,711 ) (342 ) (3,053 ) 2,982 2,655 4 Other 1,589 2 1,591 (1,231 ) (64 ) (1,295 ) 358 296 4 Total intangible assets, net $ 12,688 $ 34 $ 12,722 $ (7,409 ) $ (821 ) $ (8,230 ) $ 5,279 $ 4,492 (1) (2) As of November 30, 2019, estimated future amortization expenses related to intangible assets were as follows (in millions): Remainder of fiscal 2020 $ 766 Fiscal 2021 1,347 Fiscal 2022 1,098 Fiscal 2023 675 Fiscal 2024 445 Fiscal 2025 126 Thereafter 35 Total intangible assets, net $ 4,492 The changes in the carrying amounts of goodwill, net, which is generally not deductible for tax purposes, for our operating segments for the six months ended November 30, 2019 were as follows: (in millions) Cloud and License Hardware Services Total Goodwill, net Balances as of May 31, 2019 $ 39,633 $ 2,367 $ 1,779 $ 43,779 Goodwill from acquisitions 74 — — 74 Goodwill adjustments, net (1) (38 ) — (5 ) (43 ) Balances as of November 30, 2019 $ 39,669 $ 2,367 $ 1,774 $ 43,810 (1) Pursuant to our business combinations accounting policy, we recorded goodwill adjustments for the effects on goodwill of changes to net assets acquired during the period that such a change is identified, provided that any such change is within the measurement period (up to one year from the date of the acquisition). Amounts also include any changes in goodwill balances for the period presented that resulted from foreign currency translations.

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	6 Months Ended
	Nov. 30, 2019
Restructuring And Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	5. RESTRUCTURING ACTIVITIES Fiscal 2019 Oracle Restructuring Plan During fiscal 2019, our management approved, committed to and initiated plans to restructure and further improve efficiencies in our operations due to our acquisitions and certain other operational activities (2019 Restructuring Plan). In the fourth quarter of fiscal 2019, our management supplemented the 2019 Restructuring Plan to reflect additional actions that we expect to take. Summary of All Plans Accrued May 31, 2019 (2) Six Months Ended November 30, 2019 Accrued November 30, 2019 (2) Total Costs Accrued to Date Total Expected Program Costs (in millions) Initial Costs (3) Adj. to Cost (4) Cash Payments Others (5) 2019 Restructuring Plan (1) Cloud and license $ 72 $ 62 $ (8 ) $ (78 ) $ — $ 48 $ 241 $ 251 Hardware 18 18 1 (22 ) — 15 72 77 Services 15 15 (1 ) (16 ) — 13 56 59 Other (6) 108 37 1 (80 ) (44 ) 22 232 239 Total 2019 Restructuring Plan $ 213 $ 132 $ (7 ) $ (196 ) $ (44 ) $ 98 $ 601 $ 626 Total other restructuring plans (7) $ 49 $ — $ (5 ) $ (6 ) $ (16 ) $ 22 Total restructuring plans $ 262 $ 132 $ (12 ) $ (202 ) $ (60 ) $ 120 (1) Restructuring costs recorded for individual line items primarily related to employee severance costs. (2) The balances at November 30, 2019 and May 31, 2019 included $119 million and $239 million, respectively, recorded in other current liabilities, and $1 million and $23 million, respectively, recorded in other non-current liabilities. (3) Costs recorded for the respective restructuring plans during the current period presented. (4) All plan adjustments were changes in estimates whereby increases and decreases in costs were generally recorded to operating expenses in the period of adjustments. (5) Represents foreign currency translation adjustments and certain other adjustments including those related to our adoption of Topic 842 as of June 1, 2019. (6) Represents employee related severance costs for functions that are not included within our operating segments and certain other restructuring costs. (7) Other restructuring plans presented in the table above included condensed information for other Oracle based plans and other plans associated with certain of our acquisitions whereby we continued to make cash outlays to settle obligations under these plans during the period presented but for which the periodic impact to our condensed consolidated statements of operations was not significant.

DEFERRED REVENUES

DEFERRED REVENUES	6 Months Ended
	Nov. 30, 2019
Deferred Revenue Disclosure [Abstract]
DEFERRED REVENUES	6. DEFERRED REVENUES Deferred revenues consisted of the following: (in millions) November 30, 2019 May 31, 2019 Cloud services and license support $ 7,126 $ 7,340 Hardware 585 635 Services 327 360 Cloud license and on-premise license 49 39 Deferred revenues, current 8,087 8,374 Deferred revenues, non-current (in other non-current liabilities) 615 669 Total deferred revenues $ 8,702 $ 9,043 Deferred cloud services and license support revenues and deferred hardware revenues substantially represent customer payments made in advance for cloud or support contracts that are typically billed in advance with corresponding revenues generally being recognized ratably over the contractual periods. Deferred services revenues include prepayments for our services business and revenues for these services are generally recognized as the services are performed. Deferred cloud license and on-premise license revenues typically resulted from customer payments that related to undelivered products and services or specified enhancements. In connection with our acquisitions, we have estimated the fair values of the cloud services and license support performance obligations assumed from our acquired companies. We generally have estimated the fair values of these obligations assumed using a cost build-up approach. The cost build-up approach determines fair value by estimating the costs related to fulfilling the obligations plus a normal profit margin. The sum of the costs and operating profit approximates, in theory, the amount that we would be required to pay a third party to assume these acquired obligations. These aforementioned fair value adjustments recorded for obligations assumed from our acquisitions reduced the cloud services and license support deferred revenues balances that we recorded as liabilities from these acquisitions and also reduced the resulting revenues that we recognized or will recognize over the terms of the acquired obligations during the post-combination periods .

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Nov. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	7. DERIVATIVE FINANCIAL INSTRUMENTS We held the following derivative instruments that were designated and accounted for as hedging instruments pursuant to ASC 815, Derivatives and Hedging • interest rate swap agreements, which are used to protect us against changes in the fair values of certain of our fixed-rate borrowings attributable to the movements in benchmark interest rates. We have designated these swap agreements as qualifying hedging instruments and are accounting for them as fair value hedges pursuant to ASC 815; • cross-currency interest rate swap agreements, which are used to protect us against changes in the fair values of certain of our fixed-rate Euro-denominated borrowings attributable to the movements in benchmark interest rates and foreign currency exchange rates by effectively converting the fixed-rate, Euro-denominated borrowings, including the annual interest payments and the payment of principal at maturity, to variable-rate, U.S. Dollar denominated debt based on LIBOR. We have designated these swap agreements as qualifying hedging instruments and are accounting for them as fair value hedges pursuant to ASC 815; and • cross-currency swap agreements, which are used to manage foreign currency exchange risk by converting certain of our fixed-rate Euro-denominated borrowings including periodic interest payments and the payment of principal at maturity to fixed-rate U.S. Dollar denominated debt and are accounted for as cash flow hedges pursuant to ASC 815 . We also held certain foreign currency contracts that were not designated as hedges pursuant to ASC 815. As of November 30, 2019 and May 31, 2019, the notional amounts of such forward contracts we held to purchase U.S. Dollars in exchange for other major international currencies were $3.9 billion and $3.8 billion, respectively, and the notional amount of forward contracts we held to sell U.S. Dollars in exchange for other major international currencies were $3.8 billion and $3.3 billion, respectively. The fair values of our outstanding foreign currency forward contracts were nominal as of November 30, 2019 and May 31, 2019. Net gains or losses related to these forward contracts are included in non-operating income, net. See Note 10 of Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019 for additional information regarding the purpose, accounting and classification of our derivative instruments. None of our derivative instruments are used for trading purposes. The effects of derivative instruments designated as hedges on certain of our condensed consolidated financial statements were as follows as of or for each of the respective periods presented below (amounts presented exclude any income tax effects): Fair Values of Derivative Instruments Designated as Hedges in Condensed Consolidated Balance Sheets Fair Value as of (in millions) Balance Sheet Location November 30, 2019 May 31, 2019 Derivative assets: Interest rate swap agreements designated as fair value hedges Other non-current assets $ 12 $ 5 Total derivative assets $ 12 $ 5 Derivative liabilities: Interest rate swap agreements designated as fair value hedges Other current liabilities $ — $ 5 Cross-currency interest rate swap agreements designated as fair value hedges Other non-current liabilities 27 17 Cross-currency swap agreements designated as cash flow hedges Other non-current liabilities 242 208 Total derivative liabilities $ 269 $ 230 Effects of Fair Value Hedging Relationships on Hedged Items in Condensed Consolidated Balance Sheet (in millions) November 30, 2019 May 31, 2019 Notes payable, current: Carrying amount of hedged item $ — $ 1,994 Cumulative hedging adjustments included in the carrying amount — (5 ) Notes payable and other borrowings, non-current: Carrying amounts of hedged items 3,653 3,652 Cumulative hedging adjustments included in the carrying amount 44 44 Effects of Derivative Instruments Designated as Hedges on Income Three Months Ended November 30, 2019 2018 (in millions) Non-operating income, net Interest expense Non-operating income, net Interest expense Condensed consolidated statements of operations line amounts in which the hedge effects were recorded $ 92 $ (465 ) $ 192 $ (519 ) Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instruments $ — $ (4 ) $ — $ (31 ) Hedged items — 4 — 31 Cross-currency interest rate swaps designated as fair value hedges: Derivative instruments 5 (16 ) (24 ) 1 Hedged items (3 ) 16 21 (1 ) Cross-currency swap agreements designated as cash flow hedges: Amount of gain (loss) reclassified from accumulated OCI or OCL (10 ) — (49 ) — Total gain (loss) on hedges recognized in income $ (8 ) $ — $ (52 ) $ — Six Months Ended November 30, 2019 2018 (in millions) Non-operating income, net Interest expense Non-operating income, net Interest expense Condensed consolidated statements of operations line amounts in which the hedge effects were recorded $ 191 $ (959 ) $ 484 $ (1,048 ) Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instruments $ — $ 12 $ — $ (38 ) Hedged items — (12 ) — 38 Cross-currency interest rate swaps designated as fair value hedges: Derivative instruments (13 ) 7 (28 ) 1 Hedged items 12 (7 ) 26 (1 ) Cross-currency swap agreements designated as cash flow hedges: Amount of gain (loss) reclassified from accumulated OCI or OCL (18 ) — (37 ) — Total gain (loss) on hedges recognized in income $ (19 ) $ — $ (39 ) $ — Gain (Loss) on Derivative Instruments Designated as Hedges included in Other Comprehensive Income (OCI) or Loss (OCL) Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cross-currency swap agreements designated as cash flow hedges $ (2 ) $ (41 ) $ (34 ) $ (55 )

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Nov. 30, 2019
Stockholders Equity Note [Abstract]
STOCKHOLDERS' EQUITY	8. STOCKHOLDERS’ EQUITY Common Stock Repurchases Our Board of Directors has approved a program for us to repurchase shares of our common stock. On September 11, 2019, we announced that our Board of Directors approved an expansion of our stock repurchase program by an additional $15.0 billion. As of November 30, 2019, approximately $10.8 billion remained available for stock repurchases pursuant to our stock repurchase program. We repurchased 181.0 million shares for $10.0 billion during the six months ended November 30, 2019 (including 0.8 million shares for $44 million that were repurchased but not settled) and 415.3 million shares for $20.0 billion during the six months ended November 30, 2018 under the stock repurchase program. Our stock repurchase authorization does not have an expiration date and the pace of our repurchase activity will depend on factors such as our working capital needs, our cash requirements for acquisitions and dividend payments, our debt repayment obligations or repurchases of our debt, our stock price, and economic and market conditions. Our stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 plan. Our stock repurchase program may be accelerated, suspended, delayed or discontinued at any time. Dividends on Common Stock In December 2019, our Board of Directors declared a quarterly cash dividend of $0.24 per share of our outstanding common stock. The dividend is payable on January 23, 2020 to stockholders of record as of the close of business on January 9, 2020. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our Board of Directors. Fiscal 2020 Stock‑Based Awards Activity and Compensation Expense During the first half of fiscal 2020, we issued 41 million restricted stock-based units (RSUs), substantially all of which were issued as a part of our annual stock-based award process and are subject to service‑based vesting restrictions. These fiscal 2020 stock-based awards issuances were partially offset by stock-based award forfeitures and cancellations of 11 million shares during the first half of fiscal 2020. The RSUs that were granted during the six months ended November 30, 2019 have vesting restrictions, valuations and contractual lives of a similar nature to those described in Note 13 of Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019. Stock ‑ based compensation expense is included in the following operating expense line items in our condensed consolidated statements of operations: Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cloud services and license support $ 30 $ 24 $ 61 $ 48 Hardware 3 2 6 5 Services 14 12 28 25 Sales and marketing 37 93 125 188 Research and development 272 222 543 479 General and administrative 41 43 80 87 Total stock-based compensation $ 397 $ 396 $ 843 $ 832

INCOME TAXES

INCOME TAXES	6 Months Ended
	Nov. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	9. INCOME TAXES Our effective tax rates for the periods presented are the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. Our provision for income taxes varied from the tax computed at the U.S. federal statutory income tax rate for the periods presented primarily due to earnings in foreign operations, state taxes, the U.S. research and development tax credit, settlements with tax authorities, the tax effects of stock-based compensation, the Foreign Derived Intangible Income deduction and the tax effect of Global Intangible Low-Taxed Income. In fiscal 2018, the U.S. Tax Cuts and Jobs Act of 2017 (the Tax Act), was signed into law. The more significant provisions of the Tax Act applicable to us are described in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019. During the first half of fiscal 2019, we recorded a benefit of $153 million in accordance with SEC Staff Accounting Bulletin No. 118 related to adjustments in our estimates of the one-time transition tax on certain foreign subsidiary earnings affected by the Tax Act. Our effective tax rates were 17.7% and 16.0%, respectively, for the three and six months ended November 30, 2019, respectively, and 15.9% and 13.5%, respectively, for the three and six months ended November 30, 2018, respectively. Our net deferred tax assets were $2.6 billion and $2.4 billion as of November 30, 2019 and May 31, 2019, respectively. We believe that it is more likely than not that the net deferred tax assets will be realized in the foreseeable future. Realization of our net deferred tax assets is dependent upon our generation of sufficient taxable income in future years in appropriate tax jurisdictions to obtain benefit from the reversal of temporary differences, net operating loss carryforwards and tax credit carryforwards. The amount of net deferred tax assets considered realizable is subject to adjustment in future periods if estimates of future taxable income change. Domestically, U.S. federal and state taxing authorities are currently examining income tax returns of Oracle and various acquired entities for years through fiscal 2017. Our U.S. federal income tax returns have been examined for all years prior to fiscal 2010, and we are no longer subject to audit for those periods. Our U.S. state income tax returns, with some exceptions, have been examined for all years prior to fiscal 2004, and we are no longer subject to audit for those periods. Internationally, tax authorities for numerous non-U.S. jurisdictions are also examining returns affecting our unrecognized tax benefits. With some exceptions, we are generally no longer subject to tax examinations in non-U.S. jurisdictions for years prior to fiscal 1997. On June 7, 2019, the U.S. Court of Appeals for the Ninth Circuit, reversing a previous decision of the U.S. Tax Court, held that the U.S. Treasury Department’s regulations requiring the inclusion of stock-based compensation expense in a taxpayer’s cost-sharing calculations were valid. On November 12, 2019, the U.S. Court of Appeals for the Ninth Circuit denied the July 22, 2 019 en banc rehearing request. Our financial statements have been prepared consistent with this outcome, but we will continue to monitor any ongoing developments, including a potential future appeal to the U.S. Supreme Court, to determine if future changes are required. We are under audit by the IRS and various other domestic and foreign tax authorities with regards to income tax and indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, Australia, Brazil, Canada, India, Indonesia, South Korea, Mexico, Pakistan and Spain, where the amounts under controversy are significant. In some, although not all, cases, we have reserved for potential adjustments to our provision for income taxes and accrual of indirect taxes that may result from examinations by, or any negotiated agreements with, these tax authorities or final outcomes in judicial proceedings, and we believe that the final outcome of these examinations, agreements or judicial proceedings will not have a material effect on our results of operations. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of benefits in the period we determine the liabilities are no longer necessary. If our estimates of the federal, state, and foreign income tax liabilities and indirect tax liabilities are less than the ultimate assessment, it could result in a further charge to expense. We believe that we have adequately provided under GAAP for outcomes related to our tax audits. However, there can be no assurances as to the possible outcomes or any related financial statement effect thereof.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Nov. 30, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	10. SEGMENT INFORMATION ASC 280, Segment Reporting We have three businesses—cloud and license, hardware and services—each of which is comprised of a single Our cloud and license business engages in the sale, marketing and delivery of our applications and infrastructure technologies through cloud and on-premise deployment models, including our cloud services and license support offerings, and our cloud license and on-premise license offerings. Cloud services and license support revenues are generated from offerings that are typically contracted with customers directly, billed to customers in advance, delivered to customers over time with our revenue recognition occurring over the contractual terms, and renewed by customers upon completion of the contractual terms. Cloud services and license support contracts provide customers with access to the latest updates to the applications and infrastructure technologies as they become available and for which the customer contracted and also include related technical support services over the contractual term. Cloud license and on-premise license revenues represent fees earned from granting customers licenses, generally on a perpetual basis, to use our database and middleware and our applications software products within cloud and on-premise IT environments. We generally recognize revenues at the point in time the software is made available to the customer to download and use, which typically is immediate upon signature of the license contract. In each fiscal year, our cloud and license business’ contractual activities are typically highest in our fourth fiscal quarter and the related cash flows are typically highest in the following quarter (i.e., in the first fiscal quarter of the next fiscal year) as we receive payments from these contracts. Our hardware business provides Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments. Our hardware business also offers hardware support, which provides customers with software updates for the software components that are essential to the functionality of their hardware products, such as Oracle Solaris and certain other software, and can also include product repairs, maintenance services and technical support services. Our services business provides services to customers and partners to help maximize the performance of their investments in Oracle applications and infrastructure technologies. We do not track our assets for each business. Consequently, it is not practical to show assets by operating segment. The following table presents summary results for each of our three businesses: Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cloud and license: Revenues (1) $ 7,938 $ 7,859 $ 15,556 $ 15,342 Cloud services and license support expenses 970 912 1,901 1,779 Sales and marketing expenses 1,856 1,834 3,612 3,577 Margin (2) $ 5,112 $ 5,113 $ 10,043 $ 9,986 Hardware: Revenues $ 871 $ 891 $ 1,686 $ 1,796 Hardware products and support expenses 277 325 541 642 Sales and marketing expenses 114 118 231 257 Margin (2) $ 480 $ 448 $ 914 $ 897 Services: Revenues $ 806 $ 817 $ 1,593 $ 1,630 Services expenses 700 677 1,365 1,353 Margin (2) $ 106 $ 140 $ 228 $ 277 Totals: Revenues (1) $ 9,615 $ 9,567 $ 18,835 $ 18,768 Expenses 3,917 3,866 7,650 7,608 Margin (2) $ 5,698 $ 5,701 $ 11,185 $ 11,160 (1) Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our condensed consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 6 for an explanation of these adjustments and the table below for a reconciliation of our total operating segment revenues to our total consolidated revenues as reported in our condensed consolidated statements of operations. (2) The margins reported reflect only the direct controllable costs of each line of business and do not include allocations of research and development, general and administrative and certain other allocable expenses, net. Additionally, the margins reported above do not reflect amortization of intangible assets, acquisition related and other expenses, restructuring expenses, stock-based compensation, interest expense or certain other non-operating income, net. The following table reconciles total operating segment revenues to total revenues as well as total operating segment margin to income before provision for income taxes: Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Total revenues for operating segments $ 9,615 $ 9,567 $ 18,835 $ 18,768 Cloud and license revenues (1) (1 ) (5 ) (3 ) (13 ) Total revenues $ 9,614 $ 9,562 $ 18,832 $ 18,755 Total margin for operating segments $ 5,698 $ 5,701 $ 11,185 $ 11,160 Cloud and license revenues (1) (1 ) (5 ) (3 ) (13 ) Research and development (1,531 ) (1,475 ) (3,088 ) (3,039 ) General and administrative (323 ) (299 ) (615 ) (619 ) Amortization of intangible assets (407 ) (424 ) (821 ) (858 ) Acquisition related and other (12 ) (18 ) (37 ) (32 ) Restructuring (42 ) (143 ) (120 ) (233 ) Stock-based compensation for operating segments (84 ) (131 ) (220 ) (266 ) Expense allocations and other, net (115 ) (105 ) (221 ) (222 ) Interest expense (465 ) (519 ) (959 ) (1,048 ) Non-operating income, net 92 192 191 484 Income before provision for income taxes $ 2,810 $ 2,774 $ 5,292 $ 5,314 (1) Cloud and license revenues presented Disaggregation of Revenues We have considered information that is regularly reviewed by our CODMs in evaluating financial performance, and disclosures presented outside of our financial statements in our earnings releases and used in investor presentations to disaggregate revenues to depict how the nature, amount, timing and uncertainty of revenues and cash flows are affected by economic factors. The principal category we use to disaggregate revenues is the nature of our products and services as presented in our condensed consolidated statements of operations, the total of which is reconciled to revenues from our reportable segments as per the preceding tables of this footnote. The following table is a summary of our total revenues by geographic region. The relative proportion of our total revenues between each geographic region as presented in the table below was materially consistent across each of our operating segments’ revenues for the periods presented. Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Americas $ 5,304 $ 5,243 $ 10,454 $ 10,404 EMEA (1) 2,695 2,782 5,248 5,358 Asia Pacific 1,615 1,537 3,130 2,993 Total revenues $ 9,614 $ 9,562 $ 18,832 $ 18,755 (1) Comprised of Europe, the Middle East and Africa The following table presents a summary of our cloud and license business revenues by ecosystem. Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Applications revenues $ 2,909 $ 2,808 $ 5,730 $ 5,569 Infrastructure revenues 5,028 5,046 9,823 9,760 Total cloud and license revenues $ 7,937 $ 7,854 $ 15,553 $ 15,329

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Nov. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	11. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding restricted stock-based awards, stock options, and shares issuable under the employee stock purchase plan as applicable pursuant to the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended November 30, Six Months Ended November 30, (in millions, except per share data) 2019 2018 2019 2018 Net income $ 2,311 $ 2,333 $ 4,448 $ 4,598 Weighted average common shares outstanding 3,245 3,720 3,281 3,812 Dilutive effect of employee stock plans 86 97 89 96 Dilutive weighted average common shares outstanding 3,331 3,817 3,370 3,908 Basic earnings per share $ 0.71 $ 0.63 $ 1.36 $ 1.21 Diluted earnings per share $ 0.69 $ 0.61 $ 1.32 $ 1.18 Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation (1) 55 72 55 76 (1) These weighted shares relate to anti-dilutive restricted service based stock‑based awards and stock options as calculated using the treasury stock method and contingently issuable shares under performance‑based stock option (PSO) and performance‑based restricted stock unit award (PSU) arrangements. Such shares could be dilutive in the future.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Nov. 30, 2019
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	12. LEGAL PROCEEDINGS Hewlett-Packard Company Litigation On June 15, 2011, Hewlett-Packard Company, now Hewlett Packard Enterprise Company (HP), filed a complaint in the California Superior Court, County of Santa Clara against Oracle Corporation alleging numerous causes of action including breach of contract, breach of the covenant of good faith and fair dealing, defamation, intentional interference with prospective economic advantage, and violation of the California Unfair Business Practices Act. The complaint alleged that when Oracle announced on March 22 and 23, 2011 that it would no longer develop future versions of its software to run on HP’s Itanium-based servers, it breached a settlement agreement signed on September 20, 2010 (the HP Settlement Agreement), resolving litigation between HP and one of Oracle’s former CEOs who had previously acted as HP’s chief executive officer and chairman of HP’s board of directors. HP sought a judicial declaration of the parties’ rights and obligations under the HP Settlement Agreement and other equitable and monetary relief. Oracle answered the complaint and filed cross-claims. After a bench trial on the meaning of the HP Settlement Agreement, the court found that the HP Settlement Agreement required Oracle to continue to develop certain of its software products for use on HP’s Itanium-based servers at no cost to HP. The case proceeded to a jury trial in May 2016. On June 30, 2016, the jury returned a verdict in favor of HP on its claims for breach of contract and breach of the implied covenant of good faith and fair dealing and against Oracle on its cross-claims. The jury awarded HP $3.0 billion in damages. Under the court’s rulings, HP is entitled to post-judgment interest, but not pre-judgment interest, on this award. After the trial court denied Oracle’s motion for a new trial, Oracle filed a notice of appeal on January 17, 2017. On February 2, 2017, HP filed a notice of appeal of the trial court’s denial of pre-judgment interest. Oracle has posted a mandated surety bond with the trial court for the amounts owing. No amounts have been paid or recorded to our results of operations. We continue to believe that we have meritorious defenses against HP’s claims, and we intend to present these defenses to the appellate court. Oracle filed its opening brief on March 7, 2019. Briefing on the appeal was completed November 1, 2019, and the appellate court has not scheduled a date for oral argument. We cannot currently estimate a reasonably possible range of loss for this action due to the complexities and uncertainty surrounding the appeal process and the nature of the claims. Litigation is inherently unpredictable, and the outcome of the appeal process related to this action is uncertain. It is possible that the resolution of this action could have a material impact on our future cash flows and results of operations. Derivative Litigation Concerning Oracle’s NetSuite Acquisition On May 3 and July 18, 2017, two alleged stockholders filed separate derivative lawsuits in the Court of Chancery of the State of Delaware, purportedly on Oracle’s behalf. Thereafter, the court consolidated the two derivative cases and designated the July 18, 2017 complaint as the operative complaint. The consolidated lawsuit was brought against all the then-current members and one former member of our Board of Directors, and Oracle as a nominal defendant. Plaintiff alleges that the defendants breached their fiduciary duties by causing Oracle to agree to purchase NetSuite Inc. (NetSuite) at an excessive price. Plaintiff seeks declaratory relief, unspecified monetary damages (including interest), and attorneys’ fees and costs. The defendants filed a motion to dismiss, which the court denied on March 19, 2018. On March 28, 2018, pursuant to a stipulation, all of the individual defendants, except for our Chief Technology Officer and our Chief Executive Officer, were dismissed from this case. On May 4, 2018, the remaining defendants answered plaintiff’s complaint. On May 4, 2018, the Board of Directors established a Special Litigation Committee (the SLC) to investigate the allegations in this derivative action. Three non-employee directors serve d on the SLC. On July 22, 2019, the court permitted plaintiff to file an amended complaint, adding again the defendants who had been dismissed from the case in March 2018. The amended complaint also brought an aiding-and-abetting claim against NetSuite’s former Chief Executive Officer and NetSuite’s former Chief Technology Officer. On August 15, 2019, the SLC filed a letter with the court, stating that the SLC believed that plaintiff should be allowed to proceed with the derivative litig ation on behalf of Oracle. After the SLC advised the Board that it had fulfilled its duties and obligations, the Board withdrew the SLC’s authority, except that the SLC maintained certain authority to respond to discovery requests in the litigation. On August 30, 2019, members of our Board of Directors that were added as defendants on July 22, 2019 moved to dismiss the amended complaint. No hearing date has been set for this motion. On September 12 and 13, 2019, the two NetSuite former executives moved to dismiss the complaint, and a hearing on those motions was scheduled for December 18, 2019. On November 27, 2019, the court granted plaintiff leave to file a second amended complaint, which was filed the same day. Because Mark Hurd, who had been one of our Chief Executive Officers, passed away on October 18, 2019, the second amended complaint substitutes his estate as a defendant. On November 27, 2019, the two NetSuite former executives moved to dismiss that complaint. The court has not yet set a hearing date for that motion. The other defendants have not yet responded to plaintiff’s latest complaint. No trial date has been set for this matter. While Oracle continues to evaluate these claims, we do not believe this litigation will have a material impact on our financial position or results of operations. Securities Class Action and Derivative Litigation Concerning Oracle’s Cloud Business On August 10, 2018, a putative class action, brought by an alleged stockholder of Oracle, was filed in the U.S. District Court for the Northern District of California against us, our Chief Technology Officer, our then‑two Chief Executive Officers, two other Oracle executives, and one former Oracle executive. As noted above, Mr. Hurd, one of our Chief Executive Officers, passed away on October 18, 2019. On March 8, 2019, plaintiff filed an amended complaint. Plaintiff alleges that the defendants made or are responsible for false and misleading statements regarding Oracle’s cloud business. Plaintiff further alleges that the former Oracle executive engaged in insider trading. Plaintiff seeks a ruling that this case may proceed as a class action, and seeks damages, attorneys’ fees and costs, and unspecified declaratory/injunctive relief. On April 19, 2019, . On October 17, 2019, the court heard oral argument on the motion but has not yet issued a decision. On February 12, 2019, a stockholder derivative lawsuit was filed in the U.S. District Court for the Northern District of California. The derivative suit is brought by two alleged stockholders of Oracle, purportedly on Oracle’s behalf, against all members of our Board of Directors, and Oracle as a nominal defendant. Plaintiffs claim that the alleged actions described in the August 10, 2018 class action discussed above caused harm to Oracle, and that Oracle’s Board members violated their fiduciary duties of care, loyalty, reasonable inquiry, and good faith by failing to prevent this alleged harm. Plaintiffs also allege that defendants’ actions constitute gross mismanagement, waste, and securities fraud. Plaintiffs seek a ruling that this case may proceed as a derivative action, a finding that defendants are liable for breaching their fiduciary duties, an order directing defendants to enact corporate reforms, attorneys’ fees and costs, and unspecified equitable relief. On April 26, 2019, the court approved a stay of this action, which will be lifted if the class action discussed above is dismissed, if the motion to dismiss the class action is denied, or if either party voluntarily chooses to lift the stay. On May 8, 2019, a second derivative action was filed in the U.S. District Court for the Northern District of California. The derivative suit is brought by an alleged stockholder of Oracle, purportedly on Oracle’s behalf, against our Chief Technology Officer, our two ‑then Chief Executive Officers, one former Oracle executive, and Oracle as a nominal defendant. Plaintiff claims that the alleged actions described in the August 10, 2018 class action discussed above caused harm to Oracle, and plaintiff raises further allegations of impropriety relating to Oracle’s stock buybacks and acquisition of NetSuite. Plaintiff asserts claims for violation of securities laws, violation of fiduciary duties, contribution and indemnification. Plaintiff seeks a ruling that the case may proceed as a derivative action, and seeks damages, declaratory and other equitable relief, attorneys’ and expert fees and costs. On June 4, 2019, the court issued an order finding that this case was related to the derivative case above and staying the case under the court’s prior stay order . On July 8, 2019, plaintiffs in the two derivative actions filed a consolidated complaint. The actions remain stayed. While Oracle continues to evaluate these claims, we do not believe this litigation will have a material impact on our financial position or results of operations. Other Litigation We are party to various other legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business, including proceedings and claims that relate to acquisitions we have completed or to companies we have acquired or are attempting to acquire. While the outcome of these matters cannot be predicted with certainty, we do not believe that the outcome of any of these matters, individually or in the aggregate, will result in losses that are materially in excess of amounts already recognized, if any.

BASIS OF PRESENTATION, RECENT_2

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER (Policies)	6 Months Ended
	Nov. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We have prepared the condensed consolidated financial statements included herein pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to such rules and regulations. However, we believe that the disclosures herein are adequate to ensure the information presented is not misleading. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019. We believe that all necessary adjustments, which consisted only of normal recurring items, have been included in the accompanying financial statements to present fairly the results of the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for our fiscal year ending May 31, 2020. During the first half of fiscal 2020, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842)
Leases	Leases We determine if an arrangement is a lease at its inception. Operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. We generally use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments, because the implicit rate of the lease is generally not known. ROU assets related to our operating lease liabilities are measured at lease inception based on the initial measurement of the lease liability, plus any prepaid lease payments and less any lease incentives. Our lease terms that are used in determining our operating lease liabilities at lease inception may include options to extend or terminate the leases when it is reasonably certain that we will exercise such options. We amortize our ROU assets as operating lease expense generally on a straight-line basis over the lease term and classify both the lease amortization and imputed interest as operating expenses. We have lease agreements with lease and non-lease components, and in such cases, we generally account for the components as a single lease component. We have operating leases that primarily relate to certain of our facilities, data centers and vehicles. As of November 30, 2019, our operating leases substantially have remaining terms of one year to twelve years, some of which include options to extend and/or terminate the leases. We do not recognize lease assets and lease liabilities for any lease with an original lease term of less than one year. At November 30, 2019, ROU assets of $1.9 billion related to our operating leases are included in other non-current assets; and operating lease liabilities of $584 million are included in other current liabilities, and $1.4 billion are included in other non-current liabilities in our condensed consolidated balance sheets. Cash flow movements related to our lease activities are included in prepaid expenses and other assets and accounts payable and other liabilities as presented in net cash provided by operating activities in our condensed consolidated statement of cash flows for the six months ended November 30, 2019. For the three and six months ended November 30, 2019, operating lease expenses totaled $150 million and $298 million, respectively, net of sublease income of $4 million and $8 million, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $156 million and $304 million for three and six months ended November 30, 2019, respectively. We recorded ROU assets of $2.2 billion in exchange for operating lease obligations during the six months ended November 30, 2019, which included $1.9 billion for operating leases existing on June 1, 2019 that were recognized upon our initial adoption of Topic 842 and $301 million for operating leases that were contracted during the first half of fiscal 2020. As of November 30, 2019, the weighted average remaining lease term for operating leases was approximately five years and the weighted average discount rate used for calculating operating lease obligations was 3.2%. Maturities of operating lease liabilities were as follows as of November 30, 2019 (in millions): Remainder of fiscal 2020 $ 347 Fiscal 2021 561 Fiscal 2022 442 Fiscal 2023 287 Fiscal 2024 187 Fiscal 2025 135 Thereafter 234 Total operating lease payments 2,193 Less: imputed interest (200 ) Total operating lease liability $ 1,993
Revenue Recognition	Remaining Performance Obligations from Contracts with Customers Trade receivables, net of allowance for doubtful accounts, and deferred revenues are reported net of related uncollected deferred revenues in our condensed consolidated balance sheets as of November 30, 2019 and May 31, 2019. The revenues recognized during the six months ended November 30, 2019 and 2018, respectively, that were included in the opening deferred revenues balance as of May 31, 2019 and 2018, respectively, were approximately $6.2 billion during each period. Revenues recognized from performance obligations satisfied in prior periods and impairment losses recognized on our receivables were immaterial in each of the three and six months ended November 30, 2019 and 2018, respectively. Remaining performance obligations, as defined in Note 1 of Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2019, were $32.8 billion as of November 30, 2019, approximately 60% of which we expect to recognize as revenues over the next twelve months and the remainder thereafter.
Sales of Financing Receivables	Sales of Financing Receivables We offer certain of our customers the option to acquire our software products, hardware products and services offerings through separate long-term payment contracts. We generally sell these contracts that we have financed for our customers on a non-recourse basis to financial institutions within 90 days of the contracts’ dates of execution. We record the transfers of amounts due from customers to financial institutions as sales of financing receivables because we are considered to have surrendered control of these financing receivables. Financing receivables sold to financial institutions were $196 million and $876 million for the three and six months ended November 30, 2019, respectively, and $216 million and $1.0 billion for the three and six months ended November 30, 2018, respectively.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Restricted cash that was included within cash and cash equivalents as presented within our condensed consolidated balance sheets as of November 30, 2019 and May 31, 2019 and our condensed consolidated statements of cash flows for the six months ended November 30, 2019 and 2018 was nominal.
Acquisition Related and Other Expenses	Acquisition Related and Other Expenses Acquisition related and other expenses primarily consist of personnel related costs for transitional and certain other employees, integration related professional services, certain business combination adjustments including adjustments after the measurement period has ended and certain other operating items, net. Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Transitional and other employee related costs $ 3 $ 11 $ 7 $ 25 Business combination adjustments, net (4 ) 3 2 1 Other, net 13 4 28 6 Total acquisition related and other expenses $ 12 $ 18 $ 37 $ 32
Non-Operating Income, net	Non-Operating Income, net Non-operating income, net consists primarily of interest income, net foreign currency exchange losses, the noncontrolling interests in the net profits of our majority-owned subsidiaries (primarily Oracle Financial Services Software Limited and Oracle Corporation Japan) and net other income, including net realized gains and losses related to all of our investments, net unrealized gains and losses related to the small portion of our investment portfolio related to our deferred compensation plan, net unrealized gains and losses related to certain equity securities and non-service net periodic pension income (losses). Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Interest income $ 145 $ 296 $ 335 $ 644 Foreign currency losses, net (26 ) (22 ) (80 ) (55 ) Noncontrolling interests in income (46 ) (32 ) (87 ) (71 ) Other income (loss), net 19 (50 ) 23 (34 ) Total non-operating income, net $ 92 $ 192 $ 191 $ 484
Recent Accounting Pronouncements	Recent Accounting Pronouncements Financial Instruments: In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13) and also issued subsequent amendments to the initial guidance (collectively, Topic 326). Topic 326 requires measurement and recognition of expected credit losses for financial assets held. Topic 326 is effective for us in our first quarter of fiscal 2021, and earlier adoption is permitted beginning in the first quarter of fiscal 2020. We are currently evaluating the impact of our pending adoption of Topic 326 on our consolidated financial statements.

BASIS OF PRESENTATION, RECENT_3

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER (Tables)	6 Months Ended
	Nov. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows as of November 30, 2019 (in millions): Remainder of fiscal 2020 $ 347 Fiscal 2021 561 Fiscal 2022 442 Fiscal 2023 287 Fiscal 2024 187 Fiscal 2025 135 Thereafter 234 Total operating lease payments 2,193 Less: imputed interest (200 ) Total operating lease liability $ 1,993
Acquisition Related and Other Expenses	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Transitional and other employee related costs $ 3 $ 11 $ 7 $ 25 Business combination adjustments, net (4 ) 3 2 1 Other, net 13 4 28 6 Total acquisition related and other expenses $ 12 $ 18 $ 37 $ 32
Non-Operating Income, net	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Interest income $ 145 $ 296 $ 335 $ 644 Foreign currency losses, net (26 ) (22 ) (80 ) (55 ) Noncontrolling interests in income (46 ) (32 ) (87 ) (71 ) Other income (loss), net 19 (50 ) 23 (34 ) Total non-operating income, net $ 92 $ 192 $ 191 $ 484

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Nov. 30, 2019
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	November 30, 2019 May 31, 2019 Fair Value Measurements Using Input Types Fair Value Measurements Using Input Types (in millions) Level 1 Level 2 Total Level 1 Level 2 Total Assets: Corporate debt securities and other $ 50 $ 2,910 $ 2,960 $ 4,899 $ 17,343 $ 22,242 Commercial paper debt securities — 13,787 13,787 — — — Money market funds — — — 5,700 — 5,700 Derivative financial instruments — 12 12 — 5 5 Total assets $ 50 $ 16,709 $ 16,759 $ 10,599 $ 17,348 $ 27,947 Liabilities: Derivative financial instruments $ — $ 269 $ 269 $ — $ 230 $ 230

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Nov. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net Weighted Average Useful Life (2) (Dollars in millions) May 31, 2019 Additions & Adjustments, net (1) November 30, 2019 May 31, 2019 Expense November 30, 2019 May 31, 2019 November 30, 2019 Developed technology $ 5,406 $ 17 $ 5,423 $ (3,467 ) $ (415 ) $ (3,882 ) $ 1,939 $ 1,541 5 Cloud services and license support agreements and related relationships 5,693 15 5,708 (2,711 ) (342 ) (3,053 ) 2,982 2,655 4 Other 1,589 2 1,591 (1,231 ) (64 ) (1,295 ) 358 296 4 Total intangible assets, net $ 12,688 $ 34 $ 12,722 $ (7,409 ) $ (821 ) $ (8,230 ) $ 5,279 $ 4,492 (1) (2)
Estimated Future Amortization Expenses Related to Intangible Assets	Remainder of fiscal 2020 $ 766 Fiscal 2021 1,347 Fiscal 2022 1,098 Fiscal 2023 675 Fiscal 2024 445 Fiscal 2025 126 Thereafter 35 Total intangible assets, net $ 4,492
Goodwill	(in millions) Cloud and License Hardware Services Total Goodwill, net Balances as of May 31, 2019 $ 39,633 $ 2,367 $ 1,779 $ 43,779 Goodwill from acquisitions 74 — — 74 Goodwill adjustments, net (1) (38 ) — (5 ) (43 ) Balances as of November 30, 2019 $ 39,669 $ 2,367 $ 1,774 $ 43,810 (1) Pursuant to our business combinations accounting policy, we recorded goodwill adjustments for the effects on goodwill of changes to net assets acquired during the period that such a change is identified, provided that any such change is within the measurement period (up to one year from the date of the acquisition). Amounts also include any changes in goodwill balances for the period presented that resulted from foreign currency translations.

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	6 Months Ended
	Nov. 30, 2019
Restructuring And Related Activities [Abstract]
Summary of All Plans	Accrued May 31, 2019 (2) Six Months Ended November 30, 2019 Accrued November 30, 2019 (2) Total Costs Accrued to Date Total Expected Program Costs (in millions) Initial Costs (3) Adj. to Cost (4) Cash Payments Others (5) 2019 Restructuring Plan (1) Cloud and license $ 72 $ 62 $ (8 ) $ (78 ) $ — $ 48 $ 241 $ 251 Hardware 18 18 1 (22 ) — 15 72 77 Services 15 15 (1 ) (16 ) — 13 56 59 Other (6) 108 37 1 (80 ) (44 ) 22 232 239 Total 2019 Restructuring Plan $ 213 $ 132 $ (7 ) $ (196 ) $ (44 ) $ 98 $ 601 $ 626 Total other restructuring plans (7) $ 49 $ — $ (5 ) $ (6 ) $ (16 ) $ 22 Total restructuring plans $ 262 $ 132 $ (12 ) $ (202 ) $ (60 ) $ 120 (1) Restructuring costs recorded for individual line items primarily related to employee severance costs. (2) The balances at November 30, 2019 and May 31, 2019 included $119 million and $239 million, respectively, recorded in other current liabilities, and $1 million and $23 million, respectively, recorded in other non-current liabilities. (3) Costs recorded for the respective restructuring plans during the current period presented. (4) All plan adjustments were changes in estimates whereby increases and decreases in costs were generally recorded to operating expenses in the period of adjustments. (5) Represents foreign currency translation adjustments and certain other adjustments including those related to our adoption of Topic 842 as of June 1, 2019. (6) Represents employee related severance costs for functions that are not included within our operating segments and certain other restructuring costs. (7) Other restructuring plans presented in the table above included condensed information for other Oracle based plans and other plans associated with certain of our acquisitions whereby we continued to make cash outlays to settle obligations under these plans during the period presented but for which the periodic impact to our condensed consolidated statements of operations was not significant.

DEFERRED REVENUES (Tables)

DEFERRED REVENUES (Tables)	6 Months Ended
	Nov. 30, 2019
Deferred Revenue Disclosure [Abstract]
Deferred Revenues	(in millions) November 30, 2019 May 31, 2019 Cloud services and license support $ 7,126 $ 7,340 Hardware 585 635 Services 327 360 Cloud license and on-premise license 49 39 Deferred revenues, current 8,087 8,374 Deferred revenues, non-current (in other non-current liabilities) 615 669 Total deferred revenues $ 8,702 $ 9,043

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Nov. 30, 2019
Derivative Instrument Detail [Abstract]
Fair Values of Derivative Instruments Designated as Hedges in Condensed Consolidated Balance Sheets	Fair Value as of (in millions) Balance Sheet Location November 30, 2019 May 31, 2019 Derivative assets: Interest rate swap agreements designated as fair value hedges Other non-current assets $ 12 $ 5 Total derivative assets $ 12 $ 5 Derivative liabilities: Interest rate swap agreements designated as fair value hedges Other current liabilities $ — $ 5 Cross-currency interest rate swap agreements designated as fair value hedges Other non-current liabilities 27 17 Cross-currency swap agreements designated as cash flow hedges Other non-current liabilities 242 208 Total derivative liabilities $ 269 $ 230
Effects of Fair Value Hedging Relationships on Hedged Items in Condensed Consolidated Balance Sheet	(in millions) November 30, 2019 May 31, 2019 Notes payable, current: Carrying amount of hedged item $ — $ 1,994 Cumulative hedging adjustments included in the carrying amount — (5 ) Notes payable and other borrowings, non-current: Carrying amounts of hedged items 3,653 3,652 Cumulative hedging adjustments included in the carrying amount 44 44
Effects of Derivative Instruments Designated as Hedges on Income	Three Months Ended November 30, 2019 2018 (in millions) Non-operating income, net Interest expense Non-operating income, net Interest expense Condensed consolidated statements of operations line amounts in which the hedge effects were recorded $ 92 $ (465 ) $ 192 $ (519 ) Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instruments $ — $ (4 ) $ — $ (31 ) Hedged items — 4 — 31 Cross-currency interest rate swaps designated as fair value hedges: Derivative instruments 5 (16 ) (24 ) 1 Hedged items (3 ) 16 21 (1 ) Cross-currency swap agreements designated as cash flow hedges: Amount of gain (loss) reclassified from accumulated OCI or OCL (10 ) — (49 ) — Total gain (loss) on hedges recognized in income $ (8 ) $ — $ (52 ) $ — Six Months Ended November 30, 2019 2018 (in millions) Non-operating income, net Interest expense Non-operating income, net Interest expense Condensed consolidated statements of operations line amounts in which the hedge effects were recorded $ 191 $ (959 ) $ 484 $ (1,048 ) Gain (loss) on hedges recognized in income: Interest rate swaps designated as fair value hedges: Derivative instruments $ — $ 12 $ — $ (38 ) Hedged items — (12 ) — 38 Cross-currency interest rate swaps designated as fair value hedges: Derivative instruments (13 ) 7 (28 ) 1 Hedged items 12 (7 ) 26 (1 ) Cross-currency swap agreements designated as cash flow hedges: Amount of gain (loss) reclassified from accumulated OCI or OCL (18 ) — (37 ) — Total gain (loss) on hedges recognized in income $ (19 ) $ — $ (39 ) $ —
Effects of Derivative Instruments Designated as Hedges on Other Comprehensive Income (OCI) or Loss (OCL)	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cross-currency swap agreements designated as cash flow hedges $ (2 ) $ (41 ) $ (34 ) $ (55 )

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Nov. 30, 2019
Stockholders Equity Note [Abstract]
Stock-Based Compensation Expense	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cloud services and license support $ 30 $ 24 $ 61 $ 48 Hardware 3 2 6 5 Services 14 12 28 25 Sales and marketing 37 93 125 188 Research and development 272 222 543 479 General and administrative 41 43 80 87 Total stock-based compensation $ 397 $ 396 $ 843 $ 832

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Nov. 30, 2019
Segment Reporting [Abstract]
Summary of Businesses Results	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Cloud and license: Revenues (1) $ 7,938 $ 7,859 $ 15,556 $ 15,342 Cloud services and license support expenses 970 912 1,901 1,779 Sales and marketing expenses 1,856 1,834 3,612 3,577 Margin (2) $ 5,112 $ 5,113 $ 10,043 $ 9,986 Hardware: Revenues $ 871 $ 891 $ 1,686 $ 1,796 Hardware products and support expenses 277 325 541 642 Sales and marketing expenses 114 118 231 257 Margin (2) $ 480 $ 448 $ 914 $ 897 Services: Revenues $ 806 $ 817 $ 1,593 $ 1,630 Services expenses 700 677 1,365 1,353 Margin (2) $ 106 $ 140 $ 228 $ 277 Totals: Revenues (1) $ 9,615 $ 9,567 $ 18,835 $ 18,768 Expenses 3,917 3,866 7,650 7,608 Margin (2) $ 5,698 $ 5,701 $ 11,185 $ 11,160 (1) Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our condensed consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 6 for an explanation of these adjustments and the table below for a reconciliation of our total operating segment revenues to our total consolidated revenues as reported in our condensed consolidated statements of operations. (2) The margins reported reflect only the direct controllable costs of each line of business and do not include allocations of research and development, general and administrative and certain other allocable expenses, net. Additionally, the margins reported above do not reflect amortization of intangible assets, acquisition related and other expenses, restructuring expenses, stock-based compensation, interest expense or certain other non-operating income, net.
Reconciliation of Total Operating Segment Revenues to Total Revenues	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Total revenues for operating segments $ 9,615 $ 9,567 $ 18,835 $ 18,768 Cloud and license revenues (1) (1 ) (5 ) (3 ) (13 ) Total revenues $ 9,614 $ 9,562 $ 18,832 $ 18,755
Reconciliation of Total Operating Segment Margin to Income before Provision for Income Taxes	Total margin for operating segments $ 5,698 $ 5,701 $ 11,185 $ 11,160 Cloud and license revenues (1) (1 ) (5 ) (3 ) (13 ) Research and development (1,531 ) (1,475 ) (3,088 ) (3,039 ) General and administrative (323 ) (299 ) (615 ) (619 ) Amortization of intangible assets (407 ) (424 ) (821 ) (858 ) Acquisition related and other (12 ) (18 ) (37 ) (32 ) Restructuring (42 ) (143 ) (120 ) (233 ) Stock-based compensation for operating segments (84 ) (131 ) (220 ) (266 ) Expense allocations and other, net (115 ) (105 ) (221 ) (222 ) Interest expense (465 ) (519 ) (959 ) (1,048 ) Non-operating income, net 92 192 191 484 Income before provision for income taxes $ 2,810 $ 2,774 $ 5,292 $ 5,314 (1) Cloud and license revenues presented
Disaggregation of Revenue by Geography and Ecosystem	Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Americas $ 5,304 $ 5,243 $ 10,454 $ 10,404 EMEA (1) 2,695 2,782 5,248 5,358 Asia Pacific 1,615 1,537 3,130 2,993 Total revenues $ 9,614 $ 9,562 $ 18,832 $ 18,755 (1) Comprised of Europe, the Middle East and Africa Three Months Ended November 30, Six Months Ended November 30, (in millions) 2019 2018 2019 2018 Applications revenues $ 2,909 $ 2,808 $ 5,730 $ 5,569 Infrastructure revenues 5,028 5,046 9,823 9,760 Total cloud and license revenues $ 7,937 $ 7,854 $ 15,553 $ 15,329

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Nov. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Three Months Ended November 30, Six Months Ended November 30, (in millions, except per share data) 2019 2018 2019 2018 Net income $ 2,311 $ 2,333 $ 4,448 $ 4,598 Weighted average common shares outstanding 3,245 3,720 3,281 3,812 Dilutive effect of employee stock plans 86 97 89 96 Dilutive weighted average common shares outstanding 3,331 3,817 3,370 3,908 Basic earnings per share $ 0.71 $ 0.63 $ 1.36 $ 1.21 Diluted earnings per share $ 0.69 $ 0.61 $ 1.32 $ 1.18 Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation (1) 55 72 55 76 (1) These weighted shares relate to anti-dilutive restricted service based stock‑based awards and stock options as calculated using the treasury stock method and contingently issuable shares under performance‑based stock option (PSO) and performance‑based restricted stock unit award (PSU) arrangements. Such shares could be dilutive in the future.

BASIS OF PRESENTATION, RECENT_4

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER Narrative (Details) - USD ($) $ in Millions	Jun. 01, 2019	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2020	Nov. 30, 2019	Nov. 30, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:OtherAssetsNoncurrent			us-gaap:OtherAssetsNoncurrent
Right of use assets operating leases		$ 1,900			$ 1,900
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesCurrent			us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities		$ 584			$ 584
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesNoncurrent			us-gaap:OtherLiabilitiesNoncurrent
Operating lease liabilities		$ 1,400			$ 1,400
Operating lease expenses		150			298
Sublease income		4			8
Cash paid for operating lease liabilities		$ 156			304
Right of use asset in exchange for operating lease obligation	$ 1,900				$ 2,200
Operating lease obligations, weighted average remaining lease term		5 years			5 years
Operating lease obligations, weighted average discount rate		3.20%			3.20%
Contract with Customer, Asset and Liability [Abstract]
Revenues recognized included in opening deferred revenue balance					$ 6,200	$ 6,200
Impairment losses recognized on receivables					0	0
Revenue, Performance Obligation [Abstract]
Remaining Performance Obligation, Amount, Total		$ 32,800			$ 32,800
Remaining Performance Obligation, Percentage, to be recognized in the next twelve months		60.00%			60.00%
Sales of Financing Receivables [Abstract]
Sales of financing receivables		$ 196	$ 216		$ 876	$ 1,000
Restricted Cash Equivalents [Abstract]
Restricted cash and cash equivalent item, description					nominal
Scenario Forecast [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Right of use asset in exchange for operating lease obligation				$ 301
Minimum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating leases remaining terms					1 year
Maximum [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating leases remaining terms					12 years

BASIS OF PRESENTATION, RECENT_5

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Millions	Nov. 30, 2019USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Remainder of fiscal 2020	$ 347
Fiscal 2021	561
Fiscal 2022	442
Fiscal 2023	287
Fiscal 2024	187
Fiscal 2025	135
Thereafter	234
Total operating lease payments	2,193
Less: imputed interest	(200)
Total operating lease liability	$ 1,993

BASIS OF PRESENTATION, RECENT_6

BASIS OF PRESENTATION, RECENT ACCOUNTING PRONOUNCEMENTS AND OTHER (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Acquisition Related and Other Expenses [Abstract]
Transitional and other employee related costs	$ 3	$ 11	$ 7	$ 25
Business combination adjustments, net	(4)	3	2	1
Other, net	13	4	28	6
Total acquisition related and other expenses	12	18	37	32
Non-Operating Income, net [Abstract]
Interest income	145	296	335	644
Foreign currency losses, net	(26)	(22)	(80)	(55)
Noncontrolling interests in income	(46)	(32)	(87)	(71)
Other income (loss), net	19	(50)	23	(34)
Total non-operating income, net	$ 92	$ 192	$ 191	$ 484

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details)	6 Months Ended
	Nov. 30, 2019
Other Fiscal 2020 and 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Materiality of acquisition individually or in the aggregate	not significant

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Assets [Abstract]
Derivative financial instruments	$ 12	$ 5
Total assets	16,759	27,947
Liabilities [Abstract]
Derivative financial instruments	269	230
Commercial Paper Debt Securities [Member]
Assets [Abstract]
Investments and cash and cash equivalents	13,787	0
Money Market Funds [Member]
Assets [Abstract]
Investments and cash and cash equivalents	0	5,700
Corporate Debt Securities and Other [Member]
Assets [Abstract]
Investments and cash and cash equivalents	2,960	22,242
Fair Value Measurements Using Input Types Level 1 [Member]
Assets [Abstract]
Derivative financial instruments	0	0
Total assets	50	10,599
Liabilities [Abstract]
Derivative financial instruments	0	0
Fair Value Measurements Using Input Types Level 1 [Member] | Commercial Paper Debt Securities [Member]
Assets [Abstract]
Investments and cash and cash equivalents	0	0
Fair Value Measurements Using Input Types Level 1 [Member] | Money Market Funds [Member]
Assets [Abstract]
Investments and cash and cash equivalents	0	5,700
Fair Value Measurements Using Input Types Level 1 [Member] | Corporate Debt Securities and Other [Member]
Assets [Abstract]
Investments and cash and cash equivalents	50	4,899
Fair Value Measurements Using Input Types Level 2 [Member]
Assets [Abstract]
Derivative financial instruments	12	5
Total assets	16,709	17,348
Liabilities [Abstract]
Derivative financial instruments	269	230
Fair Value Measurements Using Input Types Level 2 [Member] | Commercial Paper Debt Securities [Member]
Assets [Abstract]
Investments and cash and cash equivalents	13,787	0
Fair Value Measurements Using Input Types Level 2 [Member] | Money Market Funds [Member]
Assets [Abstract]
Investments and cash and cash equivalents	0	0
Fair Value Measurements Using Input Types Level 2 [Member] | Corporate Debt Securities and Other [Member]
Assets [Abstract]
Investments and cash and cash equivalents	$ 2,910	$ 17,343

FAIR VALUE MEASUREMENTS Narrati

FAIR VALUE MEASUREMENTS Narrative (Details) - USD ($) $ in Billions	Nov. 30, 2019	May 31, 2019
Marketable security investments maturity information [Abstract]
Percentage of marketable securities investments mature within one year	88.00%	33.00%
Percentage of marketable securities investments mature within one to four years	12.00%	67.00%
Senior notes [Member]
Marketable security investments maturity information [Abstract]
Total debt, carrying value	$ 51.6	$ 56.1
Fair Value Measurements Using Input Types Level 2 [Member] | Senior notes [Member]
Marketable security investments maturity information [Abstract]
Total debt, fair value	$ 56.6	$ 58.4

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	May 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross		$ 12,722		$ 12,722		$ 12,688
Additions & Adjustments, net	[1]			34
Accumulated Amortization		(8,230)		(8,230)		(7,409)
Expense		(407)	$ (424)	(821)	$ (858)
Intangible Assets, Net		4,492		4,492		5,279
Developed technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross		5,423		5,423		5,406
Additions & Adjustments, net	[1]			17
Accumulated Amortization		(3,882)		(3,882)		(3,467)
Expense				(415)
Intangible Assets, Net		1,541		$ 1,541		1,939
Weighted Average Useful Life	[2]			5 years
Cloud services and license support agreements and related relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross		5,708		$ 5,708		5,693
Additions & Adjustments, net	[1]			15
Accumulated Amortization		(3,053)		(3,053)		(2,711)
Expense				(342)
Intangible Assets, Net		2,655		$ 2,655		2,982
Weighted Average Useful Life	[2]			4 years
Other [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Gross		1,591		$ 1,591		1,589
Additions & Adjustments, net	[1]			2
Accumulated Amortization		(1,295)		(1,295)		(1,231)
Expense				(64)
Intangible Assets, Net		$ 296		$ 296		$ 358
Weighted Average Useful Life	[2]			4 years
[1]
[2]

INTANGIBLE ASSETS AMORTIZATION

INTANGIBLE ASSETS AMORTIZATION (Details) - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Finite lived intangible assets future amortization expense [Abstract]
Remainder of fiscal 2020	$ 766
Fiscal 2021	1,347
Fiscal 2022	1,098
Fiscal 2023	675
Fiscal 2024	445
Fiscal 2025	126
Thereafter	35
Intangible Assets, Net	$ 4,492	$ 5,279

GOODWILL (Details)

GOODWILL (Details) $ in Millions	6 Months Ended
	Nov. 30, 2019USD ($)
Goodwill [Line Items]
Balances at period start	$ 43,779
Goodwill from acquisitions	74
Goodwill adjustments, net	(43)	[1]
Balances at period end	43,810
Cloud and License [Member]
Goodwill [Line Items]
Balances at period start	39,633
Goodwill from acquisitions	74
Goodwill adjustments, net	(38)	[1]
Balances at period end	39,669
Hardware [Member]
Goodwill [Line Items]
Balances at period start	2,367
Goodwill from acquisitions	0
Goodwill adjustments, net	0	[1]
Balances at period end	2,367
Services [Member]
Goodwill [Line Items]
Balances at period start	1,779
Goodwill from acquisitions	0
Goodwill adjustments, net	(5)	[1]
Balances at period end	$ 1,774
[1]	Pursuant to our business combinations accounting policy, we recorded goodwill adjustments for the effects on goodwill of changes to net assets acquired during the period that such a change is identified, provided that any such change is within the measurement period (up to one year from the date of the acquisition). Amounts also include any changes in goodwill balances for the period presented that resulted from foreign currency translations.

RESTRUCTURING ACTIVITIES (Detai

RESTRUCTURING ACTIVITIES (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Restructuring reserve [Line Items]
Restructuring expenses		$ 42	$ 143	$ 120	$ 233
Accrued at period start	[1],[2]			262
Initial Costs	[1],[3]			132
Adjustments to Cost	[1],[4]			(12)
Cash Payments	[1]			(202)
Others	[1],[5]			(60)
Accrued at period end	[1],[2]	120		120
Fiscal 2019 Oracle Restructuring [Member]
Restructuring reserve [Line Items]
Total expected program costs	[1]	626		626
Restructuring expenses				125
Remaining expenses to incur		25		$ 25
Completion or expected completion date				May 31, 2020
Accrued at period start	[1],[2]			$ 213
Initial Costs	[1],[3]			132
Adjustments to Cost	[1],[4]			(7)
Cash Payments	[1]			(196)
Others	[1],[5]			(44)
Accrued at period end	[1],[2]	98		98
Total Costs Accrued to Date	[1]	601		601
Fiscal 2019 Oracle Restructuring [Member] | Other [Member]
Restructuring reserve [Line Items]
Total expected program costs	[1],[6]	239		239
Accrued at period start	[1],[2],[6]			108
Initial Costs	[1],[3],[6]			37
Adjustments to Cost	[1],[4],[6]			1
Cash Payments	[1],[6]			(80)
Others	[1],[5],[6]			(44)
Accrued at period end	[1],[2],[6]	22		22
Total Costs Accrued to Date	[1],[6]	232		232
Fiscal 2019 Oracle Restructuring [Member] | Cloud and License [Member] | Operating Segments [Member]
Restructuring reserve [Line Items]
Total expected program costs	[1]	251		251
Accrued at period start	[1],[2]			72
Initial Costs	[1],[3]			62
Adjustments to Cost	[1],[4]			(8)
Cash Payments	[1]			(78)
Others	[1],[5]			0
Accrued at period end	[1],[2]	48		48
Total Costs Accrued to Date	[1]	241		241
Fiscal 2019 Oracle Restructuring [Member] | Hardware [Member] | Operating Segments [Member]
Restructuring reserve [Line Items]
Total expected program costs	[1]	77		77
Accrued at period start	[1],[2]			18
Initial Costs	[1],[3]			18
Adjustments to Cost	[1],[4]			1
Cash Payments	[1]			(22)
Others	[1],[5]			0
Accrued at period end	[1],[2]	15		15
Total Costs Accrued to Date	[1]	72		72
Fiscal 2019 Oracle Restructuring [Member] | Services [Member] | Operating Segments [Member]
Restructuring reserve [Line Items]
Total expected program costs	[1]	59		59
Accrued at period start	[1],[2]			15
Initial Costs	[1],[3]			15
Adjustments to Cost	[1],[4]			(1)
Cash Payments	[1]			(16)
Others	[1],[5]			0
Accrued at period end	[1],[2]	13		13
Total Costs Accrued to Date	[1]	56		56
Other Restructuring Plans [Member]
Restructuring reserve [Line Items]
Accrued at period start	[1],[2],[7]			49
Initial Costs	[1],[3],[7]			0
Adjustments to Cost	[1],[4],[7]			(5)
Cash Payments	[1],[7]			(6)
Others	[1],[5],[7]			(16)
Accrued at period end	[1],[2],[7]	$ 22		$ 22
[1]	Restructuring costs recorded for individual line items primarily related to employee severance costs.
[2]	The balances at November 30, 2019 and May 31, 2019 included $119 million and $239 million, respectively, recorded in other current liabilities, and $1 million and $23 million, respectively, recorded in other non-current liabilities.
[3]	Costs recorded for the respective restructuring plans during the current period presented.
[4]	All plan adjustments were changes in estimates whereby increases and decreases in costs were generally recorded to operating expenses in the period of adjustments.
[5]	Represents foreign currency translation adjustments and certain other adjustments including those related to our adoption of Topic 842 as of June 1, 2019.
[6]	Represents employee related severance costs for functions that are not included within our operating segments and certain other restructuring costs.
[7]	Other restructuring plans presented in the table above included condensed information for other Oracle based plans and other plans associated with certain of our acquisitions whereby we continued to make cash outlays to settle obligations under these plans during the period presented but for which the periodic impact to our condensed consolidated statements of operations was not significant.

RESTRUCTURING ACTIVITIES Narrat

RESTRUCTURING ACTIVITIES Narrative (Details) - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Restructuring Reserve [Abstract]
Accrued restructuring liabilities, current (in other current liabilities)	$ 119	$ 239
Accrued restructuring liabilities, non-current (in other non-current liabilities)	$ 1	$ 23

DEFERRED REVENUES (Details)

DEFERRED REVENUES (Details) - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Deferred Revenues [Line Items]
Deferred revenues, current	$ 8,087	$ 8,374
Deferred revenues, non-current (in other non-current liabilities)	615	669
Total deferred revenues	8,702	9,043
Cloud services and license support [Member] | Cloud and License [Member]
Deferred Revenues [Line Items]
Deferred revenues, current	7,126	7,340
Hardware [Member] | Hardware [Member]
Deferred Revenues [Line Items]
Deferred revenues, current	585	635
Services [Member] | Services [Member]
Deferred Revenues [Line Items]
Deferred revenues, current	327	360
Cloud license and on-premise license [Member] | Cloud and License [Member]
Deferred Revenues [Line Items]
Deferred revenues, current	$ 49	$ 39

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS Narrative (Details) - Foreign Currency Forward Contracts Not Designated as Hedges [Member] - USD ($) $ in Billions	Nov. 30, 2019	May 31, 2019
Forward contracts held to purchase U.S. Dollars [Member]
Foreign Currency Forward Contracts Not Designated as Hedges (Narrative) [Abstract]
Notional amounts of forward contracts	$ 3.9	$ 3.8
Forward contracts held to sell U.S. Dollars [Member]
Foreign Currency Forward Contracts Not Designated as Hedges (Narrative) [Abstract]
Notional amounts of forward contracts	$ 3.8	$ 3.3

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS EFFECTS ON BALANCE SHEET (Details) - USD ($) $ in Millions	Nov. 30, 2019	May 31, 2019
Derivative assets:
Total derivative assets	$ 12	$ 5
Derivative liabilities:
Total derivative liabilities	269	230
Fair value hedges [Member] | Notes payable, current [Member]
Effects of fair value hedging relationship on hedged item in condensed consolidated balance sheet [Abstract]
Carrying amount of hedged item	0	1,994
Cumulative hedging adjustments included in the carrying amount	0	(5)
Fair value hedges [Member] | Notes payable and other borrowings, non-current [Member]
Effects of fair value hedging relationship on hedged item in condensed consolidated balance sheet [Abstract]
Carrying amount of hedged item	3,653	3,652
Cumulative hedging adjustments included in the carrying amount	44	44
Fair value hedges [Member] | Interest Rate Swaps [Member] | Other non-current assets [Member]
Derivative assets:
Total derivative assets	12	5
Fair value hedges [Member] | Interest Rate Swaps [Member] | Other current liabilities [Member]
Derivative liabilities:
Total derivative liabilities	0	5
Fair value hedges [Member] | Cross-Currency Interest Rate Swaps [Member] | Other non-current liabilities [Member]
Derivative liabilities:
Total derivative liabilities	27	17
Cash flow hedges [Member] | Cross-Currency Swaps [Member] | Other non-current liabilities [Member]
Derivative liabilities:
Total derivative liabilities	$ 242	$ 208

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS EFFECTS ON EARNINGS AND AOCL (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Derivative [Line Items]
Non-operating income, net	$ 92	$ 192	$ 191	$ 484
Interest expense	465	519	959	1,048
Non-Operating Income, Net [Member]
Derivative [Line Items]
Non-operating income, net	92	192	191	484
Effects of derivative instruments designated as hedges on income [Abstract]:
Total gain (loss) on hedges recognized in income	(8)	(52)	(19)	(39)
Interest Expense [Member]
Derivative [Line Items]
Interest expense	465	519	959	1,048
Effects of derivative instruments designated as hedges on income [Abstract]:
Total gain (loss) on hedges recognized in income	0	0	0	0
Fair value hedges [Member] | Non-Operating Income, Net [Member] | Interest Rate Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Derivative instruments	0	0	0	0
Hedged items	0	0	0	0
Fair value hedges [Member] | Non-Operating Income, Net [Member] | Cross-Currency Interest Rate Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Derivative instruments	5	(24)	(13)	(28)
Hedged items	(3)	21	12	26
Fair value hedges [Member] | Interest Expense [Member] | Interest Rate Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Derivative instruments	(4)	(31)	12	(38)
Hedged items	4	31	(12)	38
Fair value hedges [Member] | Interest Expense [Member] | Cross-Currency Interest Rate Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Derivative instruments	(16)	1	7	1
Hedged items	16	(1)	(7)	(1)
Cash flow hedges [Member] | Cross-Currency Swap Agreements [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Cross-currency swap agreements designated as cash flow hedges	(2)	(41)	(34)	(55)
Cash flow hedges [Member] | Non-Operating Income, Net [Member] | Cross-Currency Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Amount of gain (loss) reclassified from accumulated OCI or OCL	(10)	(49)	(18)	(37)
Cash flow hedges [Member] | Interest Expense [Member] | Cross-Currency Swaps [Member]
Effects of derivative instruments designated as hedges on income [Abstract]:
Amount of gain (loss) reclassified from accumulated OCI or OCL	$ 0	$ 0	$ 0	$ 0

STOCKHOLDERS' EQUITY Narrative

STOCKHOLDERS' EQUITY Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	Dec. 10, 2019	Nov. 30, 2019	Nov. 30, 2018	Sep. 11, 2019
Stock Repurchases [Abstract]
Amount available for future repurchases		$ 10,800,000,000
Repurchases of common stock (in shares)		181	415.3
Repurchased amount		$ 10,000,000,000	$ 20,000,000,000
Repurchased shares that were not settled (in shares)		0.8
Repurchased amount that was not settled		$ 44,000,000
Approved expansion of stock repurchase program				$ 15,000,000,000
Stock-Based Compensation Expense and Stock Awards [Abstract]
Restricted stock-based units granted (in shares)		41
Forfeitures and cancellations (in shares)		11
Subsequent Event [Member]
Dividends on Common Stock [Abstract]
Dividends declared per share of outstanding common stock (in dollars per share)	$ 0.24
Dividend payable date	Jan. 23, 2020
Dividend record date	Jan. 9, 2020

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	$ 397	$ 396	$ 843	$ 832
Cloud services and license support [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	30	24	61	48
Hardware [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	3	2	6	5
Services [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	14	12	28	25
Sales and marketing [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	37	93	125	188
Research and development [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	272	222	543	479
General and administrative [Member]
Stock-Based Compensation Expense and Stock Awards [Abstract]
Total stock-based compensation	$ 41	$ 43	$ 80	$ 87

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	May 31, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	17.70%	15.90%	16.00%	13.50%
Income tax net benefit, adjustments to estimate of U.S. Tax Cuts and Jobs Act of 2017 one-time transition tax and remeasurement of net deferred tax assets and liabilities				$ 153
Deferred Tax Assets, Net [Abstract]
Net deferred tax assets	$ 2,600		$ 2,600		$ 2,400

SEGMENT INFORMATION Narrative (

SEGMENT INFORMATION Narrative (Details)	6 Months Ended
	Nov. 30, 2019BusinessSegment
Segment reporting information [Line Items]
Number of businesses | Business	3
Cloud and License [Member]
Segment reporting information [Line Items]
Number of operating segments	1
Hardware [Member]
Segment reporting information [Line Items]
Number of operating segments	1
Services [Member]
Segment reporting information [Line Items]
Number of operating segments	1

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Segment reporting information [Line Items]
Revenues		$ 9,614	$ 9,562	$ 18,832	$ 18,755
Cloud services and license support expenses	[1]	1,022	956	2,003	1,870
Sales and marketing expenses	[1]	2,068	2,101	4,086	4,140
Margin		3,183	3,101	6,060	5,878
Operating Segments [Member]
Segment reporting information [Line Items]
Revenues	[2]	9,615	9,567	18,835	18,768
Expenses		3,917	3,866	7,650	7,608
Margin	[3]	5,698	5,701	11,185	11,160
Operating Segments [Member] | Cloud and License [Member]
Segment reporting information [Line Items]
Revenues	[2]	7,938	7,859	15,556	15,342
Cloud services and license support expenses		970	912	1,901	1,779
Sales and marketing expenses		1,856	1,834	3,612	3,577
Margin	[3]	5,112	5,113	10,043	9,986
Operating Segments [Member] | Hardware [Member]
Segment reporting information [Line Items]
Revenues		871	891	1,686	1,796
Hardware products and support expenses		277	325	541	642
Sales and marketing expenses		114	118	231	257
Margin	[3]	480	448	914	897
Operating Segments [Member] | Services [Member]
Segment reporting information [Line Items]
Revenues		806	817	1,593	1,630
Services expenses		700	677	1,365	1,353
Margin	[3]	$ 106	$ 140	$ 228	$ 277
[1]	Exclusive of amortization of intangible assets, which is shown separately.
[2]	Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our condensed consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 6 for an explanation of these adjustments and the table below for a reconciliation of our total operating segment revenues to our total consolidated revenues as reported in our condensed consolidated statements of operations.
[3]	The margins reported reflect only the direct controllable costs of each line of business and do not include allocations of research and development, general and administrative and certain other allocable expenses, net. Additionally, the margins reported above do not reflect amortization of intangible assets, acquisition related and other expenses, restructuring expenses, stock-based compensation, interest expense or certain other non-operating income, net.

SEGMENT INFORMATION RECONCILIAT

SEGMENT INFORMATION RECONCILIATION (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Reconciliation of Operating Segment Revenues to Revenues [Abstract]
Total revenues		$ 9,614	$ 9,562	$ 18,832	$ 18,755
Reconciliation of Total Operating Segment Margin to Income Before Provision for Income Taxes [Abstract]
Total margin for operating segments		3,183	3,101	6,060	5,878
Total revenues		9,614	9,562	18,832	18,755
Research and development		(1,531)	(1,475)	(3,088)	(3,039)
General and administrative		(323)	(299)	(615)	(619)
Amortization of intangible assets		(407)	(424)	(821)	(858)
Acquisition related and other		(12)	(18)	(37)	(32)
Restructuring		(42)	(143)	(120)	(233)
Stock-based compensation for operating segments		(84)	(131)	(220)	(266)
Expense allocations and other, net		(115)	(105)	(221)	(222)
Interest expense		(465)	(519)	(959)	(1,048)
Non-operating income, net		92	192	191	484
Income before provision for income taxes		2,810	2,774	5,292	5,314
Operating Segments [Member]
Reconciliation of Operating Segment Revenues to Revenues [Abstract]
Total revenues	[1]	9,615	9,567	18,835	18,768
Reconciliation of Total Operating Segment Margin to Income Before Provision for Income Taxes [Abstract]
Total margin for operating segments	[2]	5,698	5,701	11,185	11,160
Total revenues	[1]	9,615	9,567	18,835	18,768
Cloud and license revenues [Member]
Reconciliation of Operating Segment Revenues to Revenues [Abstract]
Total revenues	[3]	(1)	(5)	(3)	(13)
Reconciliation of Total Operating Segment Margin to Income Before Provision for Income Taxes [Abstract]
Total revenues	[3]	$ (1)	$ (5)	$ (3)	$ (13)
[1]	Cloud and license revenues presented for management reporting included revenues related to cloud and license obligations that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our condensed consolidated statements of operations for the periods presented due to business combination accounting requirements. See Note 6 for an explanation of these adjustments and the table below for a reconciliation of our total operating segment revenues to our total consolidated revenues as reported in our condensed consolidated statements of operations.
[2]	The margins reported reflect only the direct controllable costs of each line of business and do not include allocations of research and development, general and administrative and certain other allocable expenses, net. Additionally, the margins reported above do not reflect amortization of intangible assets, acquisition related and other expenses, restructuring expenses, stock-based compensation, interest expense or certain other non-operating income, net.
[3]	Cloud and license revenues presented

SUMMARY OF TOTAL REVENUES BY GE

SUMMARY OF TOTAL REVENUES BY GEOGRAPHIC REGION (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues		$ 9,614	$ 9,562	$ 18,832	$ 18,755
Americas [Member]
Disaggregation of Revenue [Line Items]
Total revenues		5,304	5,243	10,454	10,404
EMEA [Member]
Disaggregation of Revenue [Line Items]
Total revenues	[1]	2,695	2,782	5,248	5,358
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Total revenues		$ 1,615	$ 1,537	$ 3,130	$ 2,993
[1]	Comprised of Europe, the Middle East and Africa

SUMMARY OF CLOUD AND LICENSE BU

SUMMARY OF CLOUD AND LICENSE BUSINESS REVENUES BY ECOSYSTEM (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 9,614	$ 9,562	$ 18,832	$ 18,755
Applications Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2,909	2,808	5,730	5,569
Infrastructure Revenues [Member]
Disaggregation of Revenue [Line Items]
Total revenue	5,028	5,046	9,823	9,760
Ecosystem [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,937	$ 7,854	$ 15,553	$ 15,329

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Earnings Per Share [Abstract]
Net income		$ 2,311	$ 2,333	$ 4,448	$ 4,598
Weighted average common shares outstanding		3,245	3,720	3,281	3,812
Dilutive effect of employee stock plans		86	97	89	96
Dilutive weighted average common shares outstanding		3,331	3,817	3,370	3,908
Basic earnings per share		$ 0.71	$ 0.63	$ 1.36	$ 1.21
Diluted earnings per share		$ 0.69	$ 0.61	$ 1.32	$ 1.18
Shares subject to anti-dilutive restricted stock-based awards and stock options excluded from calculation	[1]	55	72	55	76
[1]	These weighted shares relate to anti-dilutive restricted service based stock‑based awards and stock options as calculated using the treasury stock method and contingently issuable shares under performance‑based stock option (PSO) and performance‑based restricted stock unit award (PSU) arrangements. Such shares could be dilutive in the future.

LEGAL PROCEEDINGS (Details)

LEGAL PROCEEDINGS (Details)	Jul. 08, 2019Claim	Jun. 30, 2016USD ($)	Nov. 30, 2019USD ($)
Legal Proceedings [Line Items]
Plaintiffs claim alleged actions described date			Aug. 10, 2018
Number of derivative action filed with plaintiffs | Claim	2
Hewlett-Packard Litigation [Member]
Legal Proceedings [Line Items]
Damages awarded, value		$ 3,000,000,000
Damages paid, value			$ 0