DELL TECHNOLOGIES INC. | |||||||||||
Reconciliation of Selected Non-GAAP Financial Measures | |||||||||||
(in millions, except percentages; unaudited; continued) | |||||||||||
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| Three Months Ended |
|
|
| Six Months Ended |
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| ||||
| July 29, 2022 |
| July 30, 2021 |
| Change |
| July 29, 2022 |
| July 30, 2021 |
| Change |
Net income from continuing operations | $ 506 |
| $ 629 |
| (20) % |
| $ 1,575 |
| $ 1,288 |
| 22 % |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
Amortization of intangibles | 244 |
| 442 |
|
|
| 487 |
| 887 |
|
|
Impact of purchase accounting | 3 |
| 15 |
|
|
| 12 |
| 35 |
|
|
Transaction-related (income) expenses | (4) |
| 25 |
|
|
| (6) |
| 54 |
|
|
Stock-based compensation expense | 236 |
| 206 |
|
|
| 468 |
| 378 |
|
|
Other corporate expenses | 212 |
| 151 |
|
|
| 308 |
| 268 |
|
|
Fair value adjustments on equity investments | 255 |
| (168) |
|
|
| 241 |
| (362) |
|
|
Aggregate adjustment for income taxes | (186) |
| (134) |
|
|
| (385) |
| (327) |
|
|
Non-GAAP net income | $ 1,266 |
| $ 1,166 |
| 9 % |
| $ 2,700 |
| $ 2,221 |
| 22 % |
|
|
|
|
|
|
|
|
|
|
|
|
Net income from continuing operations attributable to Dell Technologies Inc. | $ 511 |
| $ 631 |
| (19) % |
| $ 1,583 |
| $ 1,291 |
| 23 % |
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|
|
|
|
Amortization of intangibles | 244 |
| 442 |
|
|
| 487 |
| 887 |
|
|
Impact of purchase accounting | 3 |
| 15 |
|
|
| 12 |
| 35 |
|
|
Transaction-related (income) expenses | (4) |
| 25 |
|
|
| (6) |
| 54 |
|
|
Stock-based compensation expense | 236 |
| 206 |
|
|
| 468 |
| 378 |
|
|
Other corporate expenses | 212 |
| 151 |
|
|
| 308 |
| 268 |
|
|
Fair value adjustments on equity investments | 255 |
| (168) |
|
|
| 241 |
| (362) |
|
|
Aggregate adjustment for income taxes | (186) |
| (134) |
|
|
| (385) |
| (327) |
|
|
Total non-GAAP adjustments attributable to non-controlling interests | (3) |
| (2) |
|
|
| (5) |
| (3) |
|
|
Non-GAAP net income attributable to Dell Technologies Inc. | $ 1,268 |
| $ 1,166 |
| 9 % |
| $ 2,703 |
| $ 2,221 |
| 22 % |