Dell Reports First Quarter Financial Results

⁽¹⁾ Segment Results for Fiscal 2012 have been recast to conform to segment realignments that were completed during the first quarter of Fiscal 2013. See Supplemental Segment Information at the end of these financial tables for more information.



DELL INC.
Condensed Consolidated Statement of Financial Position and Related Financial Highlights
(in millions, except for "Ratios")
(unaudited)

			May 4,			February 3,			April 29,
				2012			2012			2011
Assets:
Current assets:
	Cash and cash equivalents		$	12,814		$	13,852		$	14,061
	Short-term investments			901			966			418
	Accounts receivable, net			6,289			6,476			6,196
	Short-term financing receivables, net			3,200			3,327			3,205
	Inventories, net			1,472			1,404			1,276
	Other current assets			3,369			3,423			3,217
		Total current assets		28,045			29,448			28,373
Property, plant and equipment, net				2,119			2,124			1,987
Long-term investments				3,501			3,404			762
Long-term financing receivables, net				1,342			1,372			1,123
Goodwill				6,005			5,838			5,406
Purchased intangible assets, net				1,801			1,857			1,941
Other non-current assets				476			490			196
		Total assets	$	43,289		$	44,533		$	39,788

Liabilities and Stockholders' Equity:
Current liabilities:
	Short-term debt		$	3,186		$	2,867		$	816
	Accounts payable			10,970			11,656			10,442
	Accrued and other			3,076			3,934			3,590
	Short-term deferred services revenue			3,582			3,544			3,282
		Total current liabilities		20,814			22,001			18,130
Long-term debt				5,813			6,387			6,794
Long-term deferred services revenue				3,837			3,836			3,608
Other non-current liabilities				3,468			3,392			2,886
		Total liabilities		33,932			35,616			31,418
		Total stockholders' equity		9,357			8,917			8,370
		Total liabilities and equity	$	43,289		$	44,533		$	39,788


Ratios:
Days of sales outstanding ⁽¹⁾				43			42			40
Days supply in inventory				12			11			10
Days in accounts payable				(87	)		(89	)		(81	)
Cash conversion cycle				(32	)		(36	)		(31	)

Average total revenue/unit (approximate)			$	1,360		$	1,330		$	1,380

Note: Ratios are calculated based on underlying data in thousands.

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