Dell Technologies Delivers Fourth Quarter and Full-Year Fiscal 2022 Financial Results

 

DELL TECHNOLOGIES INC.

Segment Information

(in millions, except percentages; unaudited; continued)



Three Months Ended


Fiscal Year Ended


January 28,
2022


January 29,
2021


January 28,
2022


January 29,
2021

Reconciliation to consolidated net revenue:







Reportable segment net revenue

$             26,548


$             22,685


$             95,830


$             81,389

Other businesses (a)

1,448


1,488


5,388


5,382

Unallocated transactions (b)

4


3


11


5

Impact of purchase accounting (c)

(8)


(26)


(32)


(106)

Total consolidated net revenue

$             27,992


$             24,150


$           101,197


$             86,670









Reconciliation to consolidated operating income:








Reportable segment operating income

$                2,259


$                2,223


$                8,101


$                7,086

Other businesses (a)

(71)


(56)


(319)


(139)

Unallocated transactions (b)

3


3


3


2

Impact of purchase accounting (c)

(20)


(36)


(67)


(144)

Amortization of intangibles

(323)


(527)


(1,641)


(2,133)

Transaction-related expenses (d)

22


(19)


(273)


(124)

Stock-based compensation expense (e)

(216)


(137)


(808)


(487)

Other corporate expenses (f)

(45)


(28)


(337)


(376)

Total consolidated operating income

$                1,609


$                1,423


$                4,659


$                3,685














(a)

Other businesses consists of: 1) Dell's resale of standalone VMware, Inc. products and services, "VMware Resale", 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.  On September 1, 2020, the Company completed the sale of RSA Security and, on October 1, 2021, the Company completed the sale of Boomi.  Prior to the divestitures, Boomi and RSA Security's results were included within Other businesses.

(b)

Unallocated transactions includes other corporate items that are not allocated to Dell Technologies' reportable segments.

(c)

Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.

(d) 

Transaction-related expenses includes acquisition, integration, and divestiture related costs.

(e)

Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.

(f)

Other corporate expenses includes impairment charges, incentive charges related to equity investments, severance, facilities action, and other costs. 

SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES

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