DELL TECHNOLOGIES INC. Condensed Consolidated Statements of Cash Flows (in millions; unaudited) | |||||||
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| Three Months Ended | ||||||
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| May 1, 2020 |
| May 3, 2019 | ||||
Cash flows from operating activities: |
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Net income | $ | 182 |
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| $ | 329 |
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Adjustments to reconcile net income to net cash provided by (used in) operating activities: | (978) |
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| 353 |
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Change in cash from operating activities | (796) |
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| 682 |
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Cash flows from investing activities: |
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Purchases of investments | (56) |
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| (38) |
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Maturities and sales of investments | 39 |
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| 337 |
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Capital expenditures and capitalized software development costs | (559) |
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| (716) |
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Acquisition of businesses and assets, net | (38) |
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| (45) |
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Divestitures of businesses and assets, net | 120 |
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| (3) |
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Other | 9 |
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| 7 |
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Change in cash from investing activities | (485) |
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| (458) |
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Cash flows from financing activities: |
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Proceeds from the issuance of common stock | 116 |
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| 134 |
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Repurchases of parent common stock inclusive of tax withholdings | (240) |
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| (6) |
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Repurchases of subsidiary common stock inclusive of tax withholdings | (300) |
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| (803) |
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Proceeds from debt | 10,135 |
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| 9,563 |
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Repayments of debt | (5,405) |
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| (9,569) |
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Other | (42) |
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| (38) |
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Change in cash from financing activities | 4,264 |
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| (719) |
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Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (136) |
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| (36) |
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Change in cash, cash equivalents, and restricted cash | 2,847 |
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| (531) |
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Cash, cash equivalents, and restricted cash at beginning of the period | 10,151 |
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| 10,240 |
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Cash, cash equivalents, and restricted cash at end of the period | $ | 12,998 |
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| $ | 9,709 |
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| DELL TECHNOLOGIES INC. Segment Information (in millions, except percentages; unaudited; continued on next page) | ||||||||||
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| Three Months Ended |
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| May 1, 2020 |
| May 3, 2019 |
| Change | |||||
| Infrastructure Solutions Group (ISG): | ||||||||||
| Net Revenue: |
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| Servers and networking | $ | 3,758 |
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| $ | 4,180 |
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| (10) | % |
| Storage | 3,811 |
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| 4,022 |
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| (5) | % | ||
| Total ISG net revenue | $ | 7,569 |
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| $ | 8,202 |
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| (8) | % |
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| Operating Income: |
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| ISG operating income | $ | 732 |
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| $ | 843 |
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| (13) | % |
| % of ISG net revenue | 10 | % |
| 10 | % |
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| % of total reportable segment operating income | 35 | % |
| 38 | % |
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| Client Solutions Group (CSG): | ||||||||||
| Net Revenue: |
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| Commercial | $ | 8,634 |
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| $ | 8,307 |
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| 4 | % |
| Consumer | 2,470 |
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| 2,603 |
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| (5) | % | ||
| Total CSG net revenue | $ | 11,104 |
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| $ | 10,910 |
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| 2 | % |
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| Operating Income: |
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| CSG operating income | $ | 592 |
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| $ | 793 |
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| (25) | % |
| % of CSG net revenue | 5 | % |
| 7 | % |
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| % of total reportable segment operating income | 28 | % |
| 36 | % |
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| VMware (a): | ||||||||||
| Net Revenue: |
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| Total VMware net revenue | $ | 2,755 |
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| $ | 2,457 |
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| 12 | % |
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| Operating Income: |
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| VMware operating income | $ | 773 |
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| $ | 595 |
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| 30 | % |
| % of VMware net revenue | 28 | % |
| 24 | % |
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| |||
| % of total reportable segment operating income | 37 | % |
| 27 | % |
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| (a) | During the fourth quarter of Fiscal 2020, the Company reclassified Pivotal operating results from Other businesses to the VMware reportable segment. There was no change to consolidated results as a result of the reclassification. Prior period results have been recast to conform with current period presentation. | |||||||||
