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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
May 31, 2020
May 31, 2019
May 31, 2018
Revenues:      
Cloud services and license support $ 27,392 $ 26,707 $ 26,222
Cloud license and on-premise license 5,127 5,855 5,772
Hardware 3,443 3,704 3,994
Services 3,106 3,240 3,395
Total revenues 39,068 39,506 39,383
Operating expenses:      
Cloud services and license support [1] 4,006 3,782 3,606
Hardware [1] 1,116 1,360 1,576
Services [1] 2,816 2,853 2,878
Sales and marketing [1] 8,094 8,509 8,433
Research and development 6,067 6,026 6,084
General and administrative 1,181 1,265 1,282
Amortization of intangible assets 1,586 1,689 1,620
Acquisition related and other 56 44 52
Restructuring 250 443 588
Total operating expenses 25,172 25,971 26,119
Operating income 13,896 13,535 13,264
Interest expense (1,995) (2,082) (2,025)
Non-operating income, net 162 815 1,185
Income before provision for income taxes 12,063 12,268 12,424
Provision for income taxes 1,928 1,185 8,837
Net income $ 10,135 $ 11,083 $ 3,587
Earnings per share:      
Basic $ 3.16 $ 3.05 $ 0.87
Diluted $ 3.08 $ 2.97 $ 0.85
Weighted average common shares outstanding:      
Basic 3,211 3,634 4,121
Diluted 3,294 3,732 4,238
[1] Exclusive of amortization of intangible assets, which is shown separately.