DELL TECHNOLOGIES INC. Condensed Consolidated Statements of Cash Flows (in millions; unaudited) | |||
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| Three Months Ended | ||
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| May 3, 2024 |
| May 5, 2023 |
Cash flows from operating activities: |
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Net income | $ 955 |
| $ 578 |
Adjustments to reconcile net income to net cash provided by operating activities: | 88 |
| 1,199 |
Change in cash from operating activities | 1,043 |
| 1,777 |
Cash flows from investing activities: |
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Purchases of investments | (39) |
| (15) |
Maturities and sales of investments | 119 |
| 19 |
Capital expenditures and capitalized software development costs | (596) |
| (701) |
Other | 60 |
| 13 |
Change in cash from investing activities | (456) |
| (684) |
Cash flows from financing activities: |
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Proceeds from the issuance of common stock | — |
| 2 |
Repurchases of common stock | (700) |
| (240) |
Repurchases of common stock for employee tax withholdings | (521) |
| (306) |
Payments of dividends and dividend equivalents | (336) |
| (276) |
Proceeds from debt | 2,992 |
| 2,521 |
Repayments of debt | (3,477) |
| (3,698) |
Debt-related costs and other, net | (35) |
| (5) |
Change in cash from financing activities | (2,077) |
| (2,002) |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (55) |
| (58) |
Change in cash, cash equivalents, and restricted cash | (1,545) |
| (967) |
Cash, cash equivalents, and restricted cash at beginning of the period | 7,507 |
| 8,894 |
Cash, cash equivalents, and restricted cash at end of the period | $ 5,962 |
| $ 7,927 |
DELL TECHNOLOGIES INC. Segment Information (in millions, except percentages; unaudited; continued on next page) | |||||
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| Three Months Ended |
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| May 3, 2024 |
| May 5, 2023 |
| Change |
| Infrastructure Solutions Group (ISG): |
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| Net revenue: |
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| Servers and networking | $ 5,466 |
| $ 3,837 |
| 42 % |
| Storage | 3,761 |
| 3,756 |
| — % |
| Total ISG net revenue | $ 9,227 |
| $ 7,593 |
| 22 % |
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| Operating Income: |
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| ISG operating income | $ 736 |
| $ 740 |
| (1) % |
| % of ISG net revenue | 8.0 % |
| 9.7 % |
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| % of total reportable segment operating income | 50 % |
| 45 % |
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| Client Solutions Group (CSG): |
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| Net revenue: |
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| Commercial | $ 10,154 |
| $ 9,862 |
| 3 % |
| Consumer | 1,813 |
| 2,121 |
| (15) % |
| Total CSG net revenue | $ 11,967 |
| $ 11,983 |
| — % |
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| Operating Income: |
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| CSG operating income | $ 732 |
| $ 892 |
| (18) % |
| % of CSG net revenue | 6.1 % |
| 7.4 % |
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| % of total reportable segment operating income | 50 % |
| 55 % |
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| Amounts are based on underlying data and may not visually foot due to rounding. | |||||
