Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2023 Financial Results

 

DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)



Three Months Ended




Fiscal Year Ended




February 3,
2023


January 28,
2022


Change


February 3,
2023


January 28,
2022


Change

Net income (loss) from continuing operations

$             606


$              (29)


NM


$          2,422


$          4,942


(51) %

Non-GAAP adjustments:












Amortization of intangibles

238


323




970


1,641



Impact of purchase accounting

11


20




44


67



Transaction-related (income) expenses

(14)


1,492




(16)


(2,143)



Stock-based compensation expense

228


216




931


808



Other corporate expenses

392


45




1,812


337



Fair value adjustments on equity investments

9


(192)




206


(572)



Aggregate adjustment for income taxes

(148)


(485)




(642)


(156)



Non-GAAP net income

$          1,322


$          1,390


(5) %


$          5,727


$          4,924


16 %













Net income (loss) from continuing operations
attributable to Dell Technologies Inc.

$             614


$              (28)


NM


$          2,442


$          4,948


(51) %

Non-GAAP adjustments:












Amortization of intangibles

238


323




970


1,641



Impact of purchase accounting

11


20




44


67



Transaction-related (income) expenses

(14)


1,492




(16)


(2,143)



Stock-based compensation expense

228


216




931


808



Other corporate expenses

392


45




1,812


337



Fair value adjustments on equity investments

9


(192)




206


(572)



Aggregate adjustment for income taxes

(148)


(485)




(642)


(156)



Total non-GAAP adjustments attributable
to non-controlling interests

(6)


(1)




(13)


(7)



Non-GAAP net income attributable to
Dell Technologies Inc.

$          1,324


$          1,390


(5) %


$          5,734


$          4,923


16 %


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