Dell Reports Strong Second Quarter Financial Results Driven by

Dell Reports Strong Second Quarter Financial Results Driven by Enterprise Solutions and Services

⁽¹⁾Days of sales outstanding (“DSO”) is based on the ending net trade receivables and most recent quarterly revenue for each period. DSO includes the effect of product costs related to customer shipments not yet recognized as revenue that are classified in the other current assets. At July 29, 2011, April 29, 2011, and July 30, 2010, DSO and days of customer shipments not yet recognized were 39 and 3 days, 37 and 3 days, 38 and 3 days, respectively.



DELL INC.
Condensed Consolidated Statements of Cash Flows
(in millions, unaudited)

		Three Months Ended						Six Months Ended
		July 29,			July 30,			July 29,			July 30,
			2011			2010			2011			2010
Cash flows from operating activities:
Net income		$	890		$	545		$	1,835		$	886
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization			230			264			446			511
Stock-based compensation			82			80			181			156
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies			(9	)		7			(9	)		37
Deferred Income Taxes			7			(24	)		(56	)		(55	)
Provision for doubtful accounts - including financing receivables			70			95			117			217
Other			5			4			-			4
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable			(566	)		(777	)		(95	)		(896	)
Financing receivables			(100	)		(205	)		(79	)		(413	)
Inventories			(69	)		(186	)		(31	)		(318	)
Other assets			97			(33	)		207			36
Accounts payable			1,186			1,109			261			1,131
Deferred services revenue			212			193			403			265
Accrued and other liabilities			339			263			(341	)		12
	Change in cash from operating activities		2,374			1,335			2,839			1,573

Cash flows from investing activities:
Investments:
Purchases			(541	)		(713	)		(781	)		(1,063	)
Maturities and sales			210			669			432			838
Capital expenditures			(159	)		(145	)		(296	)		(191	)
Proceeds from sale of facility and land			-			18			12			18
Collections on purchased financing receivables			68			-			135			-
Acquisition of business, net of cash received			(428	)		(89	)		(1,901	)		(222	)
	Change in cash from investing activities		(850	)		(260	)		(2,399	)		(620	)

Cash flows from financing activities:
Repurchase of common stock			(1,130	)		(200	)		(1,580	)		(400	)
Issuance of common stock under employee plans			19			2			29			9
Issuance (repayment) of commercial paper (maturity 90 days or less), net			-			490			-			724
Proceeds from debt			503			341			2,433			609
Repayments of debt			(370	)		(253	)		(693	)		(819	)
Other			(1	)		(1	)		2			2
	Change in cash from financing activities		(979	)		379			191			125


Effect of exchange rate changes on cash and cash equivalents			17			(15	)		79			(19	)

Change in cash and cash equivalents			562			1,439			710			1,059

Cash and cash equivalents at beginning of period			14,061			10,255			13,913			10,635
Cash and cash equivalents at end of period		$	14,623		$	11,694		$	14,623		$	11,694

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 Next Page »