our cloud license and on-premise l icense transactions are generally perpetual in nature and are generally recognized upfront at the point in time when the software is made available to the customer to download and use . revenues from usage-based royalty arrangements for distinct cloud licen ses and on-premise licenses are recognized at the point in time when the software end user usage occurs . the timing of a few large license transactions can substantially affect our quarterly license revenues due to the point in time for revenue recognition of license transactions , which is different than the typical revenue recognition pattern for our cloud services and license support revenues in which revenues are generally recognized ratably over the contractual terms . cloud license and on-premise licens e customers have the option to purchase and renew license support contracts , as described above . providing choice and flexibility to our customers as to when and how they deploy our applications and infrastructure technologies is an important element of our corporate strategy . in recent periods , customer demand for our applications and infrastructure technologies delivered through our oracle cloud services has increased . to address customer demand and enable customer choice , we have introduced certain programs for customers to pivot their applications and infrastructure licenses and the related license support to the oracle cloud for new deployments and to migrate to and expand with the oracle cloud for their existing workloads . we expect these trends to continue . our cloud and license business ' revenue growth is affected by many factors , including the strength of general economic and business conditions ; governmental budgetary constraints ; the strategy for and competitive position of our offerings ; our acquisitions ; the continued renewal of our cloud services and license support customer contracts by the customer contract base ; substantially all customers continuing to purchase license support contracts in connection with their license purchases ; the pricing of license support contracts sold in connection with the sales of licenses ; the pricing , amounts and volumes of licenses and cloud services sold ; and foreign currency rate fluctuations . on a constant currency basis , we expect that our total cloud and license revenues generally will continue to increase due to : expected growth in our cloud services and license support offerings ; continued demand for our cloud license and on-premise license offerings ; and contributions from our acquisitions . we believe all of these factors should contribute to future growth in our cloud and license revenues , which should enable us to continue to make investments in research and development to develop and improve our cloud and license products and services . our cloud and license business ' margin has historically trended upward over the course of the four quarters within a particular fiscal year due to the historical upward trend of our cloud and license business ' revenues over those quarterly periods and because the majority of our costs for this business are generally fixed in the short term . the historical upward trend of our cloud and license business ' revenues over the course of the four quarters within a particular fiscal year is primarily due to the addition of new cloud services and license support contracts to the customer contract base that we generally recognize as revenues ratably ; the renewal of existing customers ' cloud services and license support contracts over the course of each fiscal year that we generally recognize as revenues ratably ; and the historical upward trend of our cloud license and on-premise license revenues , which we generally recognize at a point in time upon delivery , over those four quarterly periods . hardware business our hardware business , which represented 9 % , 10 % and 11 % of our total revenues in fiscal 2019 , 2018 and 2017 , respectively , provides a broad selection of hardware products and hardware-related software products including oracle engineered systems , servers , storage , industry-specific hardware , operating systems , virtualization , 37 index to financial statements management and other hardware related software , and related hardware support . each hardware product and its related software , such as an operating system or firmware , are highly interdependent and interrelated and are accounted for as a combined performance obligation . the revenues for this combined perfor mance obligation are generally recognized at the point in time that the hardware product and its related software are delivered to the customer and ownership is transferred to the customer . we expect to make investments in research and development to impro ve existing hardware products and services and to develop new hardware products and services . the majority of our hardware products are sold through indirect channels , including independent distributors and value-added resellers . our hardware support offer ings provide customers with unspecified software updates for software components that are essential to the functionality of our hardware products and associated software products such as oracle solaris . our hardware support offerings can also include produ ct repairs , maintenance services and technical support services . hardware support contracts are entered into and renewed at the option of the customer , are generally priced as a percentage of the net hardware products fees and are generally recognized as r evenues ratably as the hardware support services are delivered over the contractual terms . we generally expect our hardware business to have lower operating margins as a percentage of revenues than our cloud and license business due to the incremental costs we incur to produce and distribute these products and to provide support services , including direct materials and labor costs . our quarterly hardware revenues are difficult to predict . story_separator_special_tag our provisions for income taxes include the impact of reserve provisions and changes to reserves that are considered appropriate and also include the related interest and penalties . legal and other contingencies we are currently involved in various claims and legal proceedings . quarterly , we review the status of each significant matter and assess our potential financial exposure . a description of our accounting policies associated with contingencies assumed as a part of a business combination is provided under “ business combinations ” above . for legal and other contingencies that are not a part of a business combination , we accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable , and the amount can be reasonably estimated . significant judgment is required in both the determination of probability and the determination as to whether the amount of an exposure is reasonably estimable . because of uncertainties related to these matters , accruals are based only on the best information available at the time the accruals are made . as additional information becomes available , we reassess the potential liability related to our pending claims and litigation and may revise our estimates . such revisions in the estimates of the potential liabilities could have a material impact on our results of operations and financial position . results of operations impacts of the u.s. tax cuts and jobs act of 2017 the comparability of our operating results in fiscal 2019 compared to the corresponding prior year periods , and of our consolidated balance sheets as of may 31 , 2019 relative to may 31 , 2018 , was impacted by the u.s. tax cuts and jobs act of 2017 ( the tax act ) , which was effective for us in our third quarter of fiscal 2018. information regarding our adoption and the impacts of the tax act are included in notes 1 and 14 of notes to consolidated financial statements included elsewhere in this annual report . impacts of acquisitions the comparability of our operating results in fiscal 2019 compared to fiscal 2018 was impacted by our recent acquisitions . in our discussion of changes in our results of operations from fiscal 2019 compared to fiscal 2018 , we may qualitatively disclose the impact of our acquired products and services revenues ( for the one-year period subsequent to the acquisition date ) to certain of our businesses ' revenues where such qualitative discussions would be meaningful for an understanding of the factors that influenced the changes in our results of operations . when material , we may also provide quantitative disclosures related to such acquired products and services . expense contributions from our recent acquisitions for each of the respective period comparisons may not be separately identifiable due to the integration of these businesses into our existing operations , and or were insignificant to our results of operations during the periods presented . 42 index to financial statements we caution readers that , while pre- and post-acquisition comparisons , as well as any quantified amounts themselves , may provide indications of general trends , any acquisition information that we provide has inherent limitations for the following reasons : any qualitative and quantitative disclosures can not specifically address or quantify the substantial effects attributable to changes in business strategies , including our sales force integration efforts . we believe that if our acquired companies had operated independently and sales forces had not been integrated , the relative mix of products and services sold would have been different ; and the amounts shown as cloud services and license support deferred revenues in our “ supplemental disclosure related to certain charges ” ( presented below ) are not necessarily indicative of revenue improvements we will achieve upon contract renewals to the extent customers do not renew . presentation of operating segment results and other financial information in our fiscal 2019 compared to fiscal 2018 results of operations discussion below , we provide an overview of our total consolidated revenues , total consolidated expenses and total consolidated operating margin , all of which are presented on a gaap basis . we also present a gaap-based discussion below for substantially all of the other expense items as presented in our consolidated statement of operations that are not directly attributable to our three businesses . in addition , we discuss below the fiscal 2019 compared to fiscal 2018 results of each our three businesses—cloud and license , hardware and services—which are our operating segments as defined pursuant to asc 280 , segment reporting . the financial reporting for our three businesses that is presented below is presented in a manner that is consistent with that used by our codms . our operating segment presentation below reflects revenues , direct costs and sales and marketing expenses that correspond to and are directly attributable to each of our three businesses . we also utilize these inputs to calculate and present a segment margin for each business in the discussion below . consistent with our internal management reporting processes , the below operating segment presentation includes revenues adjustments related to cloud services and license support contracts that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our consolidated statements of operations for the periods presented due to business combination accounting requirements . refer to “ supplemental disclosure related to certain charges ” below for additional discussion of these items and note 15 of notes to consolidated financial statements included elsewhere in this annual report for a reconciliation of the summations of our total operating segment revenues as presented in the discussion below to total revenues as presented per our consolidated statements of operations for all periods presented . in addition , research and development expenses , general and administrative expenses , stock-based compensation expenses , amortization of intangible assets , certain other expense allocations , acquisition related and other

cash dividends : in fiscal 2019 , we declared and paid cash dividends of $ 0.81 per share that totaled $ 2.9 billion . in june 2019 , our board of directors declared a quarterly cash dividend of $ 0.24 per share of our outstanding common stock payable on july 31 , 2019 to stockholders of record as of the close of business on july 17 , 2019. future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our board of directors . common stock repurchase program : our board of directors has approved a program for us to repurchase shares of our common stock . on september 17 , 2018 and february 15 , 2019 , we announced that our board of directors approved expansions of our stock repurchase program collectively totaling $ 24.0 billion . as of may 31 , 2019 , approximately $ 5.8 billion remained available for stock repurchases pursuant to our stock repurchase program . we repurchased 733.8 million shares for $ 36.0 billion , 238.0 million shares for $ 11.5 billion , and 85.6 million shares for $ 3.5 billion in fiscal 2019 , 2018 and 2017 , respectively . 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 and pursuant to a rule 10b5-1 plan . our stock repurchase program may be accelerated , suspended , delayed or discontinued at any time . 55 index to financial statements contractual obligations : the contractual obligations presented in the table below represent our estimates of future payments under our fixed contractual obligations and commitments . changes in our business needs , cancellation provisions , changing interest rates and other factors m ay result in actual payments differing from these estimates .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash dividends : in fiscal 2019 , we declared and paid cash dividends of $ 0.81 per share that totaled $ 2.9 billion . in june 2019 , our board of directors declared a quarterly cash dividend of $ 0.24 per share of our outstanding common stock payable on july 31 , 2019 to stockholders of record as of the close of business on july 17 , 2019. future declarations of dividends and the establishment of future record and payment dates are subject to the final determination of our board of directors . common stock repurchase program : our board of directors has approved a program for us to repurchase shares of our common stock . on september 17 , 2018 and february 15 , 2019 , we announced that our board of directors approved expansions of our stock repurchase program collectively totaling $ 24.0 billion . as of may 31 , 2019 , approximately $ 5.8 billion remained available for stock repurchases pursuant to our stock repurchase program . we repurchased 733.8 million shares for $ 36.0 billion , 238.0 million shares for $ 11.5 billion , and 85.6 million shares for $ 3.5 billion in fiscal 2019 , 2018 and 2017 , respectively . 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 and pursuant to a rule 10b5-1 plan . our stock repurchase program may be accelerated , suspended , delayed or discontinued at any time . 55 index to financial statements contractual obligations : the contractual obligations presented in the table below represent our estimates of future payments under our fixed contractual obligations and commitments . changes in our business needs , cancellation provisions , changing interest rates and other factors m ay result in actual payments differing from these estimates .
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 Suspicious Activity Report : our cloud license and on-premise l icense transactions are generally perpetual in nature and are generally recognized upfront at the point in time when the software is made available to the customer to download and use . revenues from usage-based royalty arrangements for distinct cloud licen ses and on-premise licenses are recognized at the point in time when the software end user usage occurs . the timing of a few large license transactions can substantially affect our quarterly license revenues due to the point in time for revenue recognition of license transactions , which is different than the typical revenue recognition pattern for our cloud services and license support revenues in which revenues are generally recognized ratably over the contractual terms . cloud license and on-premise licens e customers have the option to purchase and renew license support contracts , as described above . providing choice and flexibility to our customers as to when and how they deploy our applications and infrastructure technologies is an important element of our corporate strategy . in recent periods , customer demand for our applications and infrastructure technologies delivered through our oracle cloud services has increased . to address customer demand and enable customer choice , we have introduced certain programs for customers to pivot their applications and infrastructure licenses and the related license support to the oracle cloud for new deployments and to migrate to and expand with the oracle cloud for their existing workloads . we expect these trends to continue . our cloud and license business ' revenue growth is affected by many factors , including the strength of general economic and business conditions ; governmental budgetary constraints ; the strategy for and competitive position of our offerings ; our acquisitions ; the continued renewal of our cloud services and license support customer contracts by the customer contract base ; substantially all customers continuing to purchase license support contracts in connection with their license purchases ; the pricing of license support contracts sold in connection with the sales of licenses ; the pricing , amounts and volumes of licenses and cloud services sold ; and foreign currency rate fluctuations . on a constant currency basis , we expect that our total cloud and license revenues generally will continue to increase due to : expected growth in our cloud services and license support offerings ; continued demand for our cloud license and on-premise license offerings ; and contributions from our acquisitions . we believe all of these factors should contribute to future growth in our cloud and license revenues , which should enable us to continue to make investments in research and development to develop and improve our cloud and license products and services . our cloud and license business ' margin has historically trended upward over the course of the four quarters within a particular fiscal year due to the historical upward trend of our cloud and license business ' revenues over those quarterly periods and because the majority of our costs for this business are generally fixed in the short term . the historical upward trend of our cloud and license business ' revenues over the course of the four quarters within a particular fiscal year is primarily due to the addition of new cloud services and license support contracts to the customer contract base that we generally recognize as revenues ratably ; the renewal of existing customers ' cloud services and license support contracts over the course of each fiscal year that we generally recognize as revenues ratably ; and the historical upward trend of our cloud license and on-premise license revenues , which we generally recognize at a point in time upon delivery , over those four quarterly periods . hardware business our hardware business , which represented 9 % , 10 % and 11 % of our total revenues in fiscal 2019 , 2018 and 2017 , respectively , provides a broad selection of hardware products and hardware-related software products including oracle engineered systems , servers , storage , industry-specific hardware , operating systems , virtualization , 37 index to financial statements management and other hardware related software , and related hardware support . each hardware product and its related software , such as an operating system or firmware , are highly interdependent and interrelated and are accounted for as a combined performance obligation . the revenues for this combined perfor mance obligation are generally recognized at the point in time that the hardware product and its related software are delivered to the customer and ownership is transferred to the customer . we expect to make investments in research and development to impro ve existing hardware products and services and to develop new hardware products and services . the majority of our hardware products are sold through indirect channels , including independent distributors and value-added resellers . our hardware support offer ings provide customers with unspecified software updates for software components that are essential to the functionality of our hardware products and associated software products such as oracle solaris . our hardware support offerings can also include produ ct repairs , maintenance services and technical support services . hardware support contracts are entered into and renewed at the option of the customer , are generally priced as a percentage of the net hardware products fees and are generally recognized as r evenues ratably as the hardware support services are delivered over the contractual terms . we generally expect our hardware business to have lower operating margins as a percentage of revenues than our cloud and license business due to the incremental costs we incur to produce and distribute these products and to provide support services , including direct materials and labor costs . our quarterly hardware revenues are difficult to predict . story_separator_special_tag our provisions for income taxes include the impact of reserve provisions and changes to reserves that are considered appropriate and also include the related interest and penalties . legal and other contingencies we are currently involved in various claims and legal proceedings . quarterly , we review the status of each significant matter and assess our potential financial exposure . a description of our accounting policies associated with contingencies assumed as a part of a business combination is provided under “ business combinations ” above . for legal and other contingencies that are not a part of a business combination , we accrue a liability for an estimated loss if the potential loss from any claim or legal proceeding is considered probable , and the amount can be reasonably estimated . significant judgment is required in both the determination of probability and the determination as to whether the amount of an exposure is reasonably estimable . because of uncertainties related to these matters , accruals are based only on the best information available at the time the accruals are made . as additional information becomes available , we reassess the potential liability related to our pending claims and litigation and may revise our estimates . such revisions in the estimates of the potential liabilities could have a material impact on our results of operations and financial position . results of operations impacts of the u.s. tax cuts and jobs act of 2017 the comparability of our operating results in fiscal 2019 compared to the corresponding prior year periods , and of our consolidated balance sheets as of may 31 , 2019 relative to may 31 , 2018 , was impacted by the u.s. tax cuts and jobs act of 2017 ( the tax act ) , which was effective for us in our third quarter of fiscal 2018. information regarding our adoption and the impacts of the tax act are included in notes 1 and 14 of notes to consolidated financial statements included elsewhere in this annual report . impacts of acquisitions the comparability of our operating results in fiscal 2019 compared to fiscal 2018 was impacted by our recent acquisitions . in our discussion of changes in our results of operations from fiscal 2019 compared to fiscal 2018 , we may qualitatively disclose the impact of our acquired products and services revenues ( for the one-year period subsequent to the acquisition date ) to certain of our businesses ' revenues where such qualitative discussions would be meaningful for an understanding of the factors that influenced the changes in our results of operations . when material , we may also provide quantitative disclosures related to such acquired products and services . expense contributions from our recent acquisitions for each of the respective period comparisons may not be separately identifiable due to the integration of these businesses into our existing operations , and or were insignificant to our results of operations during the periods presented . 42 index to financial statements we caution readers that , while pre- and post-acquisition comparisons , as well as any quantified amounts themselves , may provide indications of general trends , any acquisition information that we provide has inherent limitations for the following reasons : any qualitative and quantitative disclosures can not specifically address or quantify the substantial effects attributable to changes in business strategies , including our sales force integration efforts . we believe that if our acquired companies had operated independently and sales forces had not been integrated , the relative mix of products and services sold would have been different ; and the amounts shown as cloud services and license support deferred revenues in our “ supplemental disclosure related to certain charges ” ( presented below ) are not necessarily indicative of revenue improvements we will achieve upon contract renewals to the extent customers do not renew . presentation of operating segment results and other financial information in our fiscal 2019 compared to fiscal 2018 results of operations discussion below , we provide an overview of our total consolidated revenues , total consolidated expenses and total consolidated operating margin , all of which are presented on a gaap basis . we also present a gaap-based discussion below for substantially all of the other expense items as presented in our consolidated statement of operations that are not directly attributable to our three businesses . in addition , we discuss below the fiscal 2019 compared to fiscal 2018 results of each our three businesses—cloud and license , hardware and services—which are our operating segments as defined pursuant to asc 280 , segment reporting . the financial reporting for our three businesses that is presented below is presented in a manner that is consistent with that used by our codms . our operating segment presentation below reflects revenues , direct costs and sales and marketing expenses that correspond to and are directly attributable to each of our three businesses . we also utilize these inputs to calculate and present a segment margin for each business in the discussion below . consistent with our internal management reporting processes , the below operating segment presentation includes revenues adjustments related to cloud services and license support contracts that would have otherwise been recorded by the acquired businesses as independent entities but were not recognized in our consolidated statements of operations for the periods presented due to business combination accounting requirements . refer to “ supplemental disclosure related to certain charges ” below for additional discussion of these items and note 15 of notes to consolidated financial statements included elsewhere in this annual report for a reconciliation of the summations of our total operating segment revenues as presented in the discussion below to total revenues as presented per our consolidated statements of operations for all periods presented . in addition , research and development expenses , general and administrative expenses , stock-based compensation expenses , amortization of intangible assets , certain other expense allocations , acquisition related and other

