|
DELL TECHNOLOGIES INC. | |||||||||||
|
Reconciliation of Selected Non-GAAP Financial Measures | |||||||||||
|
(in millions, except percentages; unaudited) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
Fiscal Year Ended |
|
| ||||
|
|
February 3, 2017 |
|
January 29, 2016 |
|
Change |
|
February 3, 2017 |
|
January 29, 2016 |
|
Change |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
$ 20,074 |
|
$ 12,679 |
|
58 % |
|
$ 61,642 |
|
$ 50,911 |
|
21 % |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Impact of purchase accounting |
507 |
|
89 |
|
|
|
1,180 |
|
459 |
|
|
|
Non-GAAP net revenue |
$ 20,581 |
|
$ 12,768 |
|
61 % |
|
$ 62,822 |
|
$ 51,370 |
|
22 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross margin |
$ 4,531 |
|
$ 2,254 |
|
101 % |
|
$ 12,959 |
|
$ 8,387 |
|
55 % |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Impact of purchase accounting |
1,110 |
|
104 |
|
|
|
2,007 |
|
512 |
|
|
|
Amortization of intangibles |
847 |
|
97 |
|
|
|
1,653 |
|
392 |
|
|
|
Transaction-related expenses |
18 |
|
— |
|
|
|
43 |
|
6 |
|
|
|
Other corporate expenses |
89 |
|
3 |
|
|
|
157 |
|
10 |
|
|
|
Non-GAAP gross margin |
$ 6,595 |
|
$ 2,458 |
|
168 % |
|
$ 16,819 |
|
$ 9,307 |
|
81 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses |
$ 6,199 |
|
$ 2,280 |
|
172 % |
|
$ 16,211 |
|
$ 8,901 |
|
82 % |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Impact of purchase accounting |
(130) |
|
(25) |
|
|
|
(287) |
|
(92) |
|
|
|
Amortization of intangibles |
(688) |
|
(394) |
|
|
|
(2,028) |
|
(1,577) |
|
|
|
Transaction-related expenses |
(141) |
|
(42) |
|
|
|
(1,445) |
|
(103) |
|
|
|
Other corporate expenses |
(488) |
|
(16) |
|
|
|
(745) |
|
(47) |
|
|
|
Non-GAAP operating expenses |
$ 4,752 |
|
$ 1,803 |
|
164 % |
|
$ 11,706 |
|
$ 7,082 |
|
65 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
$ (1,668) |
|
$ (26) |
|
NM |
|
$ (3,252) |
|
$ (514) |
|
(533)% |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Impact of purchase accounting |
1,240 |
|
129 |
|
|
|
2,294 |
|
604 |
|
|
|
Amortization of intangibles |
1,535 |
|
491 |
|
|
|
3,681 |
|
1,969 |
|
|
|
Transaction-related expenses |
159 |
|
42 |
|
|
|
1,488 |
|
109 |
|
|
|
Other corporate expenses |
577 |
|
19 |
|
|
|
902 |
|
57 |
|
|
|
Non-GAAP operating income |
$ 1,843 |
|
$ 655 |
|
181 % |
|
$ 5,113 |
|
$ 2,225 |
|
130 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations |
$ (1,414) |
|
$ (168) |
|
(742)% |
|
$ (3,737) |
|
$ (1,168) |
|
(220)% |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Impact of purchase accounting |
1,240 |
|
129 |
|
|
|
2,294 |
|
604 |
|
|
|
Amortization of intangibles |
1,535 |
|
491 |
|
|
|
3,681 |
|
1,969 |
|
|
|
Transaction-related expenses |
159 |
|
42 |
|
|
|
1,485 |
|
83 |
|
|
|
Other corporate expenses |
577 |
|
19 |
|
|
|
902 |
|
77 |
|
|
|
Aggregate adjustment for income taxes |
(1,006) |
|
(131) |
|
|
|
(1,938) |
|
(512) |
|
|
|
Non-GAAP net income from continuing operations |
$ 1,091 |
|
$ 382 |
|
186 % |
|
$ 2,687 |
|
$ 1,053 |
|
155 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations |
$ (1,414) |
|
$ (168) |
|
(742)% |
|
$ (3,737) |
|
$ (1,168) |
|
(220)% |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest and other, net |
742 |
|
172 |
|
|
|
2,104 |
|
772 |
|
|
|
Income tax benefit |
(996) |
|
(30) |
|
|
|
(1,619) |
|
(118) |
|
|
|
Depreciation and amortization |
2,041 |
|
623 |
|
|
|
4,840 |
|
2,494 |
|
|
|
EBITDA |
$ 373 |
|
$ 597 |
|
(38)% |
|
$ 1,588 |
|
$ 1,980 |
|
(20)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
$ 373 |
|
$ 597 |
|
(38)% |
|
$ 1,588 |
|
$ 1,980 |
|
(20)% |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
215 |
|
17 |
|
|
|
392 |
|
63 |
|
|
|
Impact of purchase accounting |
1,075 |
|
95 |
|
|
|
1,926 |
|
487 |
|
|
|
Transaction-related expenses |
159 |
|
42 |
|
|
|
1,525 |
|
83 |
|
|
|
Other corporate expenses |
362 |
|
2 |
|
|
|
510 |
|
20 |
|
|
|
Adjusted EBITDA |
$ 2,184 |
|
$ 753 |
|
190 % |
|
$ 5,941 |
|
$ 2,633 |
|
126 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
