Dell Technologies Reports Fiscal Year 2020 Fourth Quarter and Full Year Financial Results

 

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



Three Months Ended




Fiscal Year Ended




January 31,
2020


February 1,
2019


Change


January 31,
2020


February 1,
2019


Change

Net revenue

$

24,032



$

23,841



1%


$

92,154



$

90,621



2%

Non-GAAP adjustments:












Impact of purchase
accounting

97



167





347



703




Non-GAAP net revenue

$

24,129



$

24,008



1%


$

92,501



$

91,324



1%













Gross margin

$

7,684



$

7,109



8%


$

28,933



$

25,053



15%

Non-GAAP adjustments:












Amortization of intangibles

526



729





2,081



2,883




Impact of purchase accounting

98



171





353



720




Transaction-related expenses



(26)





(5)



213




Stock-based compensation
expense

38



37





129



91




Other corporate expenses

29



17





72



62




Non-GAAP gross margin

$

8,375



$

8,037



4%


$

31,563



$

29,022



9%













Operating expenses

$

6,967



$

6,778



3%


$

26,311



$

25,244



4%

Non-GAAP adjustments:












Amortization of intangibles

(548)



(815)





(2,327)



(3,255)




Impact of purchase accounting

(14)



(19)





(58)



(100)




Transaction-related expenses

(120)



(339)





(290)



(537)




Stock-based compensation
expense

(338)



(210)





(1,133)



(827)




Other corporate expenses

(339)



(14)





(1,088)



(357)




Non-GAAP operating
expenses

$

5,608



$

5,381



4%


$

21,415



$

20,168



6%













Operating income (loss)

$

717



$

331



117%


$

2,622



$

(191)



NM

Non-GAAP adjustments:












Amortization of intangibles

1,074



1,544





4,408



6,138




Impact of purchase accounting

112



190





411



820




Transaction-related expenses

120



313





285



750




Stock-based compensation
expense

376



247





1,262



918




Other corporate expenses

368



31





1,160



419




Non-GAAP operating
income

$

2,767



$

2,656



4%


$

10,148



$

8,854



15%


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