Dell Technologies Reports Fiscal Year 2020 Fourth Quarter and Full Year Financial Results

 

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



Three Months Ended




Fiscal Year Ended




January 31,
2020


February 1,
2019


Change


January 31,
2020


February 1,
2019


Change

Net income (loss)

$

416



$

(287)



245%


$

5,529



$

(2,181)



354%

Non-GAAP adjustments:












Amortization of intangibles

1,074



1,544





4,408



6,138




Impact of purchase accounting

112



190





411



820




Transaction-related expenses

120



387





285



824




Stock-based compensation
expense

376



247





1,262



918




Other corporate expenses

368



31





1,160



419




Fair value adjustments on
equity investments

(34)



(113)





(194)



(342)




Aggregate adjustment for
income taxes

(748)



(407)





(6,772)



(1,369)




Non-GAAP net income (a)

$

1,684



$

1,592



6%


$

6,089



$

5,227



16%













Net income (loss)

$

416



$

(287)



245%


$

5,529



$

(2,181)



354%

Adjustments:












Interest and other, net

626



606





2,626



2,170




Income tax provision (benefit)

(325)



12





(5,533)



(180)




Depreciation and amortization

1,535



1,940





6,143



7,746




EBITDA

$

2,252



$

2,271



(1)%


$

8,765



$

7,555



16%













EBITDA

$

2,252



$

2,271



(1)%


$

8,765



$

7,555



16%

Adjustments:












Stock-based compensation
expense

376



247





1,262



918




Impact of purchase
accounting

96



168





347



704




Transaction-related expenses

120



313





285



722




Other corporate expenses

357



29





1,128



397




Adjusted EBITDA

$

3,201



$

3,028



6%


$

11,787



$

10,296



14%


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