| DELL INC. | ||||||||||||||||
| Condensed Consolidated Statements of Cash Flows | ||||||||||||||||
| (in millions, unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| October 28, | October 29, | October 28, | October 29, | |||||||||||||
| 2011 | 2010 | 2011 | 2010 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||||
| Net income | $ | 893 | $ | 822 | $ | 2,728 | $ | 1,708 | ||||||||
|
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||||||||||
| Depreciation and amortization | 241 | 234 | 687 | 745 | ||||||||||||
| Stock-based compensation | 80 | 69 | 261 | 225 | ||||||||||||
|
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies |
(10 | ) | (14 | ) | (19 | ) | 23 | |||||||||
| Deferred Income Taxes | (35 | ) | 20 | (91 | ) | (35 | ) | |||||||||
| Provision for doubtful accounts - including financing receivables | 50 | 82 | 167 | 299 | ||||||||||||
| Other | 46 | - | 46 | 4 | ||||||||||||
| Changes in assets and liabilities, net of effects from acquisitions: | ||||||||||||||||
| Accounts receivable | (95 | ) | 308 | (190 | ) | (588 | ) | |||||||||
| Financing receivables | (83 | ) | (46 | ) | (162 | ) | (459 | ) | ||||||||
| Inventories | (15 | ) | 77 | (46 | ) | (241 | ) | |||||||||
| Other assets | 16 | 707 | 223 | 743 | ||||||||||||
| Accounts payable | (492 | ) | (1,306 | ) | (231 | ) | (175 | ) | ||||||||
| Deferred services revenue | 137 | 137 | 540 | 402 | ||||||||||||
| Accrued and other liabilities | 118 | (177 | ) | (223 | ) | (165 | ) | |||||||||
| Change in cash from operating activities | 851 | 913 | 3,690 | 2,486 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||||
| Investments: | ||||||||||||||||
| Purchases | (1,638 | ) | (123 | ) | (2,419 | ) | (1,186 | ) | ||||||||
| Maturities and sales | 424 | 346 | 856 | 1,184 | ||||||||||||
| Capital expenditures | (214 | ) | (93 | ) | (510 | ) | (284 | ) | ||||||||
| Proceeds from sale of facility and land | - | - | 12 | 18 | ||||||||||||
| Purchase of financing receivables | - | (430 | ) | - | (430 | ) | ||||||||||
| Collections on purchased financing receivables | 69 | 20 | 204 | 20 | ||||||||||||
|
Acquisition of business, net of cash received |
(663 | ) | (24 | ) | (2,564 | ) | (246 | ) | ||||||||
|
Change in cash from investing activities |
(2,022 | ) | (304 | ) | (4,421 | ) | (924 | ) | ||||||||
| Cash flows from financing activities: | ||||||||||||||||
| Repurchase of common stock | (600 | ) | (200 | ) | (2,180 | ) | (600 | ) | ||||||||
| Issuance of common stock under employee plans | 5 | 2 | 34 | 11 | ||||||||||||
|
Issuance (repayment) of commercial paper (maturity 90 days or less), net |
- | (900 | ) | - | (176 | ) | ||||||||||
| Proceeds from debt | 884 | 1,945 | 3,317 | 2,554 | ||||||||||||
|
Repayments of debt |
(362 | ) | (296 | ) | (1,055 | ) | (1,115 | ) | ||||||||
| Other | 1 | - | 3 | 2 | ||||||||||||
|
Change in cash from financing activities |
(72 | ) | 551 | 119 | 676 | |||||||||||
|
Effect of exchange rate changes on cash and cash equivalents |
(87 | ) | 35 | (8 | ) | 16 | ||||||||||
|
Change in cash and cash equivalents |
(1,330 | ) | 1,195 | (620 | ) | 2,254 | ||||||||||
|
Cash and cash equivalents at beginning of period |
14,623 | 11,694 | 13,913 | 10,635 | ||||||||||||
|
Cash and cash equivalents at end of period |
$ | 13,293 | $ | 12,889 | $ | 13,293 | $ | 12,889 | ||||||||
