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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
May 31, 2023
May 31, 2022
May 31, 2021
Revenues:      
Cloud services and license support $ 35,307 $ 30,174 $ 28,700
Cloud license and on-premise license 5,779 5,878 5,399
Hardware 3,274 3,183 3,359
Services 5,594 3,205 3,021
Total revenues 49,954 42,440 40,479
Operating expenses:      
Cloud services and license support [1] 7,763 5,213 4,353
Hardware [1] 1,040 972 972
Services [1] 4,761 2,692 2,530
Sales and marketing [1] 8,833 8,047 7,682
Research and development 8,623 7,219 6,527
General and administrative 1,579 1,317 1,254
Amortization of intangible assets 3,582 1,150 1,379
Acquisition related and other 190 4,713 138
Restructuring 490 191 431
Total operating expenses 36,861 31,514 25,266
Operating income 13,093 10,926 15,213
Interest expense (3,505) (2,755) (2,496)
Non-operating (expenses) income, net (462) (522) 282
Income before income taxes 9,126 7,649 12,999
(Provision for) benefit from income taxes (623) (932) 747
Net income $ 8,503 $ 6,717 $ 13,746
Earnings per share:      
Basic $ 3.15 $ 2.49 $ 4.67
Diluted $ 3.07 $ 2.41 $ 4.55
Weighted average common shares outstanding:      
Basic 2,696 2,700 2,945
Diluted 2,766 2,786 3,022
[1] Exclusive of amortization of intangible assets, which is shown separately.