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DELL TECHNOLOGIES INC. |
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Reconciliation of Selected Non-GAAP Financial Measures |
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(in millions, except percentages; unaudited; continued) |
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Three Months Ended |
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May 3, 2019 |
May 4, 2018 |
Change |
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Net income (loss) |
$ |
329 |
$ |
(538) |
161% |
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Non-GAAP adjustments: |
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Amortization of intangibles |
1,217 |
1,522 |
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Impact of purchase accounting |
101 |
222 |
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Transaction-related expenses |
42 |
166 |
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Stock-based compensation expense |
263 |
199 |
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Other corporate expenses |
23 |
70 |
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Fair value adjustments on equity investments |
(62) |
(107) |
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Aggregate adjustment for income taxes |
(704) |
(355) |
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Non-GAAP net income (a) |
$ |
1,209 |
$ |
1,179 |
3% |
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Net income (loss) |
$ |
329 |
$ |
(538) |
161% |
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Adjustments: |
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Interest and other, net |
693 |
470 |
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Income tax provision (benefit) |
(472) |
(85) |
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Depreciation and amortization |
1,616 |
1,914 |
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EBITDA |
$ |
2,166 |
$ |
1,761 |
23% |
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EBITDA |
$ |
2,166 |
$ |
1,761 |
23% |
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Adjustments: |
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Stock-based compensation expense |
263 |
199 |
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Impact of purchase accounting |
83 |
222 |
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Transaction-related expenses |
42 |
166 |
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Other corporate expenses |
19 |
35 |
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Adjusted EBITDA |
$ |
2,573 |
$ |
2,383 |
8% |
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_________________ |
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(a) |
Non-GAAP net income has been recast to exclude fair value adjustments on equity investments, the corresponding tax effects of those adjustments, and discrete tax items. |
