Future-of-Work Solutions Power Dell Technologies' Record First Quarter Fiscal 2022 Financial Results

 

 

DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
For the Three Months Ended April 30, 2021
(in millions, except per share amounts; unaudited)



GAAP


Amortization of intangibles


Impact of purchase accounting


Transaction-related expenses


Stock-based compensation expense


Other corporate expenses


Fair value adjustments on equity investments


Aggregate adjustment for income taxes


Non-GAAP

Net income

$

938



709



25



51



435



119



(157)



(301)



$

1,819


Less: Net income attributable to non-controlling interests (a)

51



53



1



4



52



1



7



(23)



146


Net income attributable to Dell Technologies Inc. - basic

887



656



24



47



383



118



(164)



(278)



1,673


Incremental dilution from VMware, Inc. attributable to Dell Technologies Inc. (b)

(2)

















(4)


Net income attributable to Dell Technologies Inc. - diluted

$

885

















$

1,669




















Earnings per share - basic

$

1.17

















$

2.21


Earnings per share - diluted

$

1.13

















$

2.13




















Weighted-average shares outstanding - basic

757

















757


Weighted-average shares outstanding - diluted

782

















782


_________________

(a)  

Net income attributable to non-controlling interests is calculated by multiplying the minority interest percentage of VMware, Inc. and SecureWorks Corp. by their respective non-GAAP net income adjustments for the period presented.

(b)  

Incremental dilution from VMware, Inc. attributable to Dell Technologies Inc. represents the impact of VMware, Inc.'s dilutive securities on the diluted earnings per share of Dell Technologies Inc. and is calculated by multiplying the difference between VMware, Inc.'s basic and diluted earnings per share by the number of shares of VMware, Inc. common stock held by Dell Technologies Inc.


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