Dell Technologies Reports Second Quarter Results; Revenue and Profits Grow Year-Over-Year

 

DELL TECHNOLOGIES INC.

Segment Information

(in millions, except percentages; unaudited; continued)



Three Months Ended


Six Months Ended


August 2, 2019


August 3, 2018


August 2, 2019


August 3, 2018

Reconciliation to consolidated net revenue:







Reportable segment net revenue

$

22,835


$

22,549


$

44,229


$

43,515

Other businesses (a)

619


574


1,215


1,153

Unallocated transactions (b)


(1)



(3)

Impact of purchase accounting (c)

(84)


(180)


(166)


(367)

Total consolidated net revenue

$

23,370


$

22,942


$

45,278


$

44,298









Reconciliation to consolidated operating income (loss):






Reportable segment operating income

$

2,794


$

2,173


$

5,044


$

4,258

Other businesses (a)

(25)


(49)


(78)


(99)

Unallocated transactions (b)

(26)


(16)


(27)


(25)

Impact of purchase accounting (c)

(102)


(215)


(203)


(437)

Amortization of intangibles

(1,060)


(1,526)


(2,277)


(3,048)

Transaction-related expenses (d)

(47)


(104)


(89)


(270)

Stock-based compensation expense (e)

(301)


(216)


(564)


(415)

Other corporate expenses (f)

(714)


(60)


(737)


(130)

Total consolidated operating income (loss)

$

519


$

(13)


$

1,069


$

(166)

_________________

(a)

Pivotal, SecureWorks, RSA Security, Virtustream, and Boomi constitute "Other businesses" and do not meet the requirements for a reportable segment, either individually or collectively.  The results of Other businesses are not material to the Company's overall results.

(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, as well as the costs incurred in the Class V transaction.

(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 and severance, facility action, and other costs.

SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES

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