DELL TECHNOLOGIES INC.
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| Three Months Ended |
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| Nine Months Ended |
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| November 1, 2024 |
| November 3, 2023 |
| Change |
| November 1, 2024 |
| November 3, 2023 |
| Change |
Gross margin | $ 5,307 |
| $ 5,148 |
| 3 % |
| $ 15,424 |
| $ 15,553 |
| (1) % |
Non-GAAP adjustments: |
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Amortization of intangibles | 60 |
| 84 |
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| 179 |
| 247 |
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Stock-based compensation expense | 39 |
| 37 |
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| 115 |
| 112 |
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Other corporate expenses | 31 |
| 7 |
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| 130 |
| 64 |
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Non-GAAP gross margin | $ 5,437 |
| $ 5,276 |
| 3 % |
| $ 15,848 |
| $ 15,976 |
| (1) % |
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Operating expenses | $ 3,639 |
| $ 3,662 |
| (1) % |
| $ 11,494 |
| $ 11,833 |
| (3) % |
Non-GAAP adjustments: |
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Amortization of intangibles | (108) |
| (123) |
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| (325) |
| (376) |
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| Stock-based compensation expense | (159) |
| (190) |
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| (484) |
| (563) |
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| Other corporate expenses | (134) |
| (37) |
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| (544) |
| (457) |
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| Non-GAAP operating expenses | $ 3,238 |
| $ 3,312 |
| (2) % |
| $ 10,141 |
| $ 10,437 |
| (3) % |
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| Operating income | $ 1,668 |
| $ 1,486 |
| 12 % |
| $ 3,930 |
| $ 3,720 |
| 6 % |
| Non-GAAP adjustments: |
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| Amortization of intangibles | 168 |
| 207 |
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| 504 |
| 623 |
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| Stock-based compensation expense | 198 |
| 227 |
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| 599 |
| 675 |
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| Other corporate expenses | 165 |
| 44 |
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| 674 |
| 521 |
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| Non-GAAP operating income | $ 2,199 |
| $ 1,964 |
| 12 % |
| $ 5,707 |
| $ 5,539 |
| 3 % |
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| Net income | $ 1,127 |
| $ 1,004 |
| 12 % |
| $ 2,923 |
| $ 2,037 |
| 43 % |
| Non-GAAP adjustments: |
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| Amortization of intangibles | 168 |
| 207 |
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| 504 |
| 623 |
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| Stock-based compensation expense | 198 |
| 227 |
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| 599 |
| 675 |
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| Other corporate expenses | 166 |
| 36 |
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| 665 |
| 566 |
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| Fair value adjustments on equity investments | (46) |
| (8) |
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| (21) |
| 36 |
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| Aggregate adjustment for income taxes (a) | (73) |
| (77) |
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| (836) |
| (302) |
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| Non-GAAP net income | $ 1,540 |
| $ 1,389 |
| 11 % |
| $ 3,834 |
| $ 3,635 |
| 5 % |
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| (a) | Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate. | |||||||
