DELL INC. | |||||||||||
Condensed Consolidated Statements of Cash Flows | |||||||||||
(in millions, unaudited) | |||||||||||
Three Months Ended | |||||||||||
May 4, | April 29, | ||||||||||
2012 | 2011 | ||||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 635 | $ | 945 | |||||||
Adjustments to reconcile net income to net cash provided by | |||||||||||
operating activities: | |||||||||||
Depreciation and amortization | 248 | 216 | |||||||||
Stock-based compensation | 95 | 99 | |||||||||
Effects of exchange rate changes on monetary assets and | |||||||||||
liabilities denominated in foreign currencies | (10 | ) | - | ||||||||
Deferred Income Taxes | 47 | (63 | ) | ||||||||
Provision for doubtful accounts - including financing receivables | 63 | 47 | |||||||||
Other | (5 | ) | (5 | ) | |||||||
Changes in assets and liabilities, net of effects from acquisitions: | |||||||||||
Accounts receivable | 161 | 471 | |||||||||
Financing receivables | 71 | 21 | |||||||||
Inventories | (68 | ) | 38 | ||||||||
Other assets | 48 | 110 | |||||||||
Accounts payable | (671 | ) | (925 | ) | |||||||
Deferred services revenue | 33 | 191 | |||||||||
Accrued and other liabilities | (785 | ) | (680 | ) | |||||||
Change in cash from operating activities | (138 | ) | 465 | ||||||||
Cash flows from investing activities: | |||||||||||
Investments: | |||||||||||
Purchases | (673 | ) | (240 | ) | |||||||
Maturities and sales | 640 | 222 | |||||||||
Capital expenditures | (142 | ) | (137 | ) | |||||||
Proceeds from sale of facility and land | - | 12 | |||||||||
Collections on purchased financing receivables | 55 | 67 | |||||||||
Acquisition of business, net of cash received |
(245 | ) | (1,473 | ) | |||||||
Change in cash from investing activities |
(365 | ) | (1,549 | ) | |||||||
Cash flows from financing activities: | |||||||||||
Repurchase of common stock | (324 | ) | (450 | ) | |||||||
Issuance of common stock under employee plans | 38 | 10 | |||||||||
Issuance (repayment) of commercial paper (maturity 90 days or less), net |
13 | - | |||||||||
Proceeds from debt | 596 | 1,930 | |||||||||
Repayments of debt |
(863 | ) | (323 | ) | |||||||
Other | 8 | 3 | |||||||||
Change in cash from financing activities |
(532 | ) | 1,170 | ||||||||
Effect of exchange rate changes on cash and cash equivalents |
(3 | ) | 62 | ||||||||
Change in cash and cash equivalents |
(1,038 | ) | 148 | ||||||||
Cash and cash equivalents at beginning of period |
13,852 | 13,913 | |||||||||
Cash and cash equivalents at end of period |
$ | 12,814 | $ | 14,061 |