SUBSEQUENT EVENTS

12 Months Ended

May 31, 2022

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

Acquisition of Cerner Corporation and Related Borrowings

On June 8, 2022, pursuant to the terms of the tender offer and applicable Delaware law, we acquired all of the outstanding shares of Cerner’s common stock and effectuated the merger of Cerner with and into a wholly-owned subsidiary of Oracle, and Cerner became an indirect, wholly-owned subsidiary of Oracle. The initial purchase accounting for this transaction has not yet been completed given the short period of time between the acquisition date and issuance of these consolidated financial statements and the financial results of Cerner will be included in our consolidated financial statements from the date of the acquisition. Refer to Note 2 above for more information about our acquisition of Cerner.

In connection with the acquisition of Cerner:

• we borrowed $15.7 billion on June 8, 2022 pursuant to the Bridge Credit Agreement. The amount is due and payable in full on March 7, 2023 unless settled earlier pursuant to the terms of the Bridge Credit Agreement. Additional information with respect to the Bridge Credit Agreement is included in Note 7 above; and

• we assumed $1.6 billion of senior notes and other borrowings, of which $1.5 billion were paid on June 8, 2022.