DELL TECHNOLOGIES INC. Selected Non-GAAP Financial Measures (in millions, except percentages; unaudited) | ||||||||||
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| Three Months Ended |
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| May 1, 2020 |
| May 3, 2019 |
| Change | |||||
Non-GAAP net revenue | $ | 21,945 |
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| $ | 21,990 |
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| — | % |
Non-GAAP gross margin | $ | 7,325 |
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| $ | 7,434 |
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| (1) | % |
% of non-GAAP net revenue | 33 | % |
| 34 | % |
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Non-GAAP operating expenses | $ | 5,164 |
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| $ | 5,238 |
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| (1) | % |
% of non-GAAP net revenue | 24 | % |
| 24 | % |
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Non-GAAP operating income | $ | 2,161 |
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| $ | 2,196 |
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| (2) | % |
% of non-GAAP net revenue | 10 | % |
| 10 | % |
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Non-GAAP net income | $ | 1,143 |
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| $ | 1,209 |
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| (5) | % |
% of non-GAAP net revenue | 5 | % |
| 5 | % |
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Adjusted EBITDA | $ | 2,607 |
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| $ | 2,573 |
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| 1 | % |
% of non-GAAP net revenue | 12 | % |
| 12 | % |
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DELL TECHNOLOGIES INC. Reconciliation of Selected Non-GAAP Financial Measures (in millions, except percentages; unaudited; continued on next page) | ||||||||||
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| Three Months Ended |
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| May 1, 2020 |
| May 3, 2019 |
| Change | |||||
Net revenue | $ | 21,897 |
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| $ | 21,908 |
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| — | % |
Non-GAAP adjustments: |
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| Impact of purchase accounting | 48 |
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| 82 |
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| Non-GAAP net revenue | $ | 21,945 |
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| $ | 21,990 |
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| — | % |
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| Gross margin | $ | 6,853 |
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| $ | 6,797 |
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| 1 | % |
| Non-GAAP adjustments: |
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| Amortization of intangibles | 372 |
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| 519 |
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| Impact of purchase accounting | 51 |
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| 84 |
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| Transaction-related expenses | — |
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| (5) |
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| Stock-based compensation expense | 40 |
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| 26 |
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| Other corporate expenses | 9 |
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| 13 |
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| Non-GAAP gross margin | $ | 7,325 |
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| $ | 7,434 |
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| (1) | % |
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| Operating expenses | $ | 6,151 |
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| $ | 6,247 |
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| (2) | % |
| Non-GAAP adjustments: |
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| Amortization of intangibles | (483) |
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| (698) |
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| Impact of purchase accounting | (12) |
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| (17) |
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| Transaction-related expenses | (76) |
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| (47) |
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| Stock-based compensation expense | (330) |
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| (237) |
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| Other corporate expenses | (86) |
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| (10) |
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| Non-GAAP operating expenses | $ | 5,164 |
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| $ | 5,238 |
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| (1) | % |
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| Operating income | $ | 702 |
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| $ | 550 |
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| 28 | % |
| Non-GAAP adjustments: |
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| Amortization of intangibles | 855 |
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| 1,217 |
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| Impact of purchase accounting | 63 |
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| 101 |
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| Transaction-related expenses | 76 |
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| 42 |
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| Stock-based compensation expense | 370 |
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| 263 |
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| Other corporate expenses | 95 |
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| 23 |
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| Non-GAAP operating income | $ | 2,161 |
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| $ | 2,196 |
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| (2) | % |
