Back in my salad days, I once took a university-level astronomy course, where I was surprised to learn that the earth's rotational speed varies due to climactic and geologic events. These speed variations mean that the Coordinated Universal Time (UTC) occasionally needs to be adjusted by a leap second to remain synchronized with the mean solar time (UT1).
The next leap second is scheduled for June 30, 2015.
E-Business Suite users do not need to worry about the impact of leap seconds. These time adjustment events do not have any impact on EBS operations or data integrity.