DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)

Three Months Ended

April 30, 2021

May 1, 2020

Change

Net income

$

938

$

182

415%

Non-GAAP adjustments:

Amortization of intangibles

709

855

Impact of purchase accounting

25

63

Transaction-related expenses

51

(44)

Stock-based compensation expense

435

370

Other corporate expenses

119

95

Fair value adjustments on equity investments

(157)

(94)

Aggregate adjustment for income taxes

(301)

(284)

Non-GAAP net income

$

1,819

$

1,143

59%

Net income

$

938

$

182

415%

Adjustments:

Interest and other, net

388

566

Income tax expense (benefit)

49

(46)

Depreciation and amortization

1,239

1,316

EBITDA

$

2,614

$

2,018

30%

EBITDA

$

2,614

$

2,018

30%

Adjustments:

Stock-based compensation expense

435

370

Impact of purchase accounting

16

48

Transaction-related expenses

51

76

Other corporate expenses

119

95

Adjusted EBITDA

$

3,235

$

2,607

24%