|
DELL INC. |
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| Condensed Consolidated Statements of Cash Flows and Related Financial Highlights | ||||||||
| (in millions, except ratios) | ||||||||
| (unaudited) | ||||||||
| Three Months Ended | ||||||||
| May 3, | May 4, | |||||||
| 2013 | 2012 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 130 | $ | 635 | ||||
| Adjustments to reconcile net income to net cash provided by | ||||||||
| operating activities: | (169 | ) | (773 | ) | ||||
| Change in cash from operating activities | (39 | ) | (138 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Investments: | ||||||||
| Purchases | (329 | ) | (673 | ) | ||||
| Maturities and sales | 317 | 640 | ||||||
| Capital expenditures | (158 | ) | (142 | ) | ||||
| Proceeds from the sale of facility, land, and other assets | 4 | - | ||||||
| Collections on purchased financing receivables | 29 | 55 | ||||||
|
Acquisition of business, net of cash received |
- | (245 | ) | |||||
|
Change in cash from investing activities |
(137 | ) | (365 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Repurchase of common stock | - | (324 | ) | |||||
| Cash dividends paid | (142 | ) | - | |||||
| Issuance of common stock under employee plans | 24 | 38 | ||||||
|
Issuance (repayment) of commercial paper (maturity 90 days or less), net |
- | 13 | ||||||
| Proceeds from debt | 547 | 596 | ||||||
|
Repayments of debt |
(2,384 | ) | (863 | ) | ||||
| Other | (2 | ) | 8 | |||||
|
Change in cash from financing activities |
(1,957 | ) | (532 | ) | ||||
|
Effect of exchange rate changes on cash and cash equivalents |
(17 | ) | (3 | ) | ||||
|
Change in cash and cash equivalents |
(2,150 | ) | (1,038 | ) | ||||
|
Cash and cash equivalents at beginning of period |
12,569 | 13,852 | ||||||
|
Cash and cash equivalents at end of period |
$ | 10,419 | $ | 12,814 | ||||
|
Ratios: |
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| Days of sales outstanding (a) | 45 | 43 | ||||||
| Days supply in inventory | 11 | 12 | ||||||
| Days in accounts payable | (87 | ) | (87 | ) | ||||
| Cash conversion cycle | (31 | ) | (32 | ) | ||||
| (a) 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 as other current assets. At May 3, 2013, and May 4, 2012, DSO and days of customer shipments not yet recognized were 41 and 4 days, and 39 and 4 days, respectively. | |
| Note: Ratios are calculated based on underlying data in thousands. | |
