DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
For the Three Months Ended April 30, 2021
(in millions, except per share amounts; unaudited)

GAAP

Amortization of intangibles

Impact of purchase accounting

Transaction-related expenses

Stock-based compensation expense

Other corporate expenses

Fair value adjustments on equity investments

Aggregate adjustment for income taxes

Non-GAAP

Net income

$

938

709

25

51

435

119

(157)

(301)

$

1,819

Less: Net income attributable to non-controlling interests (a)

51

53

1

4

52

1

7

(23)

146

Net income attributable to Dell Technologies Inc. - basic

887

656

24

47

383

118

(164)

(278)

1,673

Incremental dilution from VMware, Inc. attributable to Dell Technologies Inc. (b)

(2)

(4)

Net income attributable to Dell Technologies Inc. - diluted

$

885

$

1,669

Earnings per share - basic

$

1.17

$

2.21

Earnings per share - diluted

$

1.13

$

2.13

Weighted-average shares outstanding - basic

757

757

Weighted-average shares outstanding - diluted

782

782