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

 

DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued)



Three Months Ended


Fiscal Year Ended


January 31,
2020


February 1,
2019


January 31,
2020


February 1,
2019

Reconciliation to consolidated net revenue:







Reportable segment net revenue (a)

$

23,652



$

23,579



$

90,712



$

89,657


Other businesses (a) (b)

477



432



1,788



1,676


Unallocated transactions (c)



(3)



1



(9)


Impact of purchase accounting (d)

(97)



(167)



(347)



(703)


Total consolidated net revenue

$

24,032



$

23,841



$

92,154



$

90,621










Reconciliation to consolidated operating income (loss):





Reportable segment operating income (a)

$

2,762



$

2,670



$

10,220



$

9,037


Other businesses (a) (b)

5



(13)



(43)



(111)


Unallocated transactions (c)



(1)



(29)



(72)


Impact of purchase accounting (d)

(112)



(190)



(411)



(820)


Amortization of intangibles

(1,074)



(1,544)



(4,408)



(6,138)


Transaction-related expenses (e)

(120)



(313)



(285)



(750)


Stock-based compensation expense (f)

(376)



(247)



(1,262)



(918)


Other corporate expenses (g)

(368)



(31)



(1,160)



(419)


Total consolidated operating income (loss)

$

717



$

331



$

2,622



$

(191)


_________________



(a) 

During the fourth quarter of Fiscal 2020, the Company reclassified Pivotal operating results from Other businesses
to the VMware reportable segment.  Prior period results have been recast to conform with current period presentation.

(b) 

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.

(c)

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

(d)

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

(e) 

Transaction-related expenses includes acquisition, integration, and divestiture related costs, as well as the costs incurred in the
Class V transaction.

(f) 

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

(g)

Other corporate expenses includes impairment charges and severance, facility action, and other costs.


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