Are you applying CPU 11.2.0.3 then consider applying PSU 11.2.0.3.1 as it contains the latest CPU and all the one-off fixes that makes you in sync with Oracle Support. I always make a practice of applying the latest PSU when upgrading database to the next release.
cat root.sh
export ORACLE_HOME=/oracle/product/asm11.2
export PATH=$ORACLE_HOME/bin:$ORACLE_HOME/OPatch:$PATH
export PATCHTOP=/dev/stage/if/stage/11gR2/patchset
opatch auto $PATCHTOP -oh $ORACLE_HOME -ocmrf $ORACLE_HOME/asmocm.rsp
oracle@devdb[+ASM]$ sudo /home/oracle/root.sh
Last successful login: Tue Feb 7 14:48:15 UTC 2012
Last authentication failure: Tue Feb 7 13:22:14 UTC 2012
Executing /usr/bin/perl /oracle/product/asm11.2/OPatch/crs/patch112.pl -patchdir /dev/stage/if/stage/11gR2 -patchn patchset -oh /oracle/product/asm11.2 -ocmrf /oracle/product/asm11.2/asmocm.rsp -paramfile /oracle/product/asm11.2/crs/install/crsconfig_params
opatch auto log file location is /oracle/product/asm11.2/OPatch/crs/../../cfgtoollogs/opatchauto2012-02-07_15-51-25.log
Detected Oracle Restart install
Using configuration parameter file: /oracle/product/asm11.2/crs/install/crsconfig_params
Successfully unlock /oracle/product/asm11.2
patch /dev/stage/if/stage/11gR2/patchset/13348650 apply successful for home /oracle/product/asm11.2
patch /dev/stage/if/stage/11gR2/patchset/13343438 apply successful for home /oracle/product/asm11.2
CRS-4123: Oracle High Availability Services has been started.
oracle@devdb[+ASM]$
The procedure can be used to apply the PSU on the DB Homes as well.
oracle@devdb[+ASM]$ $ORACLE_HOME/OPatch/opatch lsinventory|grep "Patch Set Update"
Patch Description: "Database Patch Set Update : 11.2.0.3.1 (13343438)"
Patch Description: "Grid Infrastructure Patch Set Update : 11.2.0.3.1 (13348650)"
oracle@devdb[+ASM]$
Patch Set Updates (PSUs) are proactive cumulative patches containing recommended bug fixes that are released on a regular and predictable schedule. PSUs are on the same quarterly schedule as the Critical Patch Updates (CPU), specifically the Tuesday closest to the 17th of January, April, July, and October.
The PSUs serve as a new baseline version for reporting issues to Oracle.
There are two latest PSU available
Patch 13343438 DATABASE PATCH SET UPDATE 11.2.0.3.1 (INCLUDES CPU JAN2012)
Patch 13348650 GRID INFRASTRUCTURE PATCH SET UPDATE 11.2.0.3.1 (INCLUDES DB PSU 11.2.0.3.1)
Patch 13343438 DATABASE PATCH SET UPDATE 11.2.0.3.1 (INCLUDES CPU JAN2012)
Patch 13348650 GRID INFRASTRUCTURE PATCH SET UPDATE 11.2.0.3.1 (INCLUDES DB PSU 11.2.0.3.1)
If you are having the Grid Infrastructure home and other database home you can consider applying Patch 13348650 which includes PSU for both the GI and DB Home.
I applied on the Upgraded ASM Home (GI Home) as root user
export ORACLE_HOME=/oracle/product/asm11.2
export PATH=$ORACLE_HOME/bin:$ORACLE_HOME/OPatch:$PATH
export PATCHTOP=/dev/stage/if/stage/11gR2/patchset
opatch auto $PATCHTOP -oh $ORACLE_HOME -ocmrf $ORACLE_HOME/asmocm.rsp
Last successful login: Tue Feb 7 14:48:15 UTC 2012
Last authentication failure: Tue Feb 7 13:22:14 UTC 2012
Executing /usr/bin/perl /oracle/product/asm11.2/OPatch/crs/patch112.pl -patchdir /dev/stage/if/stage/11gR2 -patchn patchset -oh /oracle/product/asm11.2 -ocmrf /oracle/product/asm11.2/asmocm.rsp -paramfile /oracle/product/asm11.2/crs/install/crsconfig_params
opatch auto log file location is /oracle/product/asm11.2/OPatch/crs/../../cfgtoollogs/opatchauto2012-02-07_15-51-25.log
Detected Oracle Restart install
Using configuration parameter file: /oracle/product/asm11.2/crs/install/crsconfig_params
Successfully unlock /oracle/product/asm11.2
patch /dev/stage/if/stage/11gR2/patchset/13348650 apply successful for home /oracle/product/asm11.2
patch /dev/stage/if/stage/11gR2/patchset/13343438 apply successful for home /oracle/product/asm11.2
CRS-4123: Oracle High Availability Services has been started.
oracle@devdb[+ASM]$
The procedure can be used to apply the PSU on the DB Homes as well.
oracle@devdb[+ASM]$ $ORACLE_HOME/OPatch/opatch lsinventory|grep "Patch Set Update"
Patch Description: "Database Patch Set Update : 11.2.0.3.1 (13343438)"
Patch Description: "Grid Infrastructure Patch Set Update : 11.2.0.3.1 (13348650)"
oracle@devdb[+ASM]$