Oracle Corporation (ORCL) Message Board

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Technology Stocks : Oracle Corporation (ORCL)

ORCL 220.61

+0.3%

Nov 18 3:59 PM EST

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To: hueyone who wrote (17770)	1/9/2003 2:08:57 PM
From: JSwanson	Read Replies (2) of 19079

You wrote: Perhaps share repurchases reduces both cash and paid in capital by a like amount?---in which case the underlying premise of my post would be unchanged. That is incorrect. I will see if I can verify the accounting treatment on the company side for both share repurchases and dividends. Take a look at the consolidated statements of stockholders' equity in the 10-K. I don't disagree with you assertion that options plans have been used to transfer wealth from shareholders to employees in a very covert way. If you look at ORCL consolidated statements of stockholders' equity you will see that ORCL depleted retained earnings by $12 billion buying back about 640 million shares. However, during that same period, the company issued, principally through option plans, about 340 millions. So, in essence, $12 billion only reduced share count by roughly 300 million shares. Regards, JS

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