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 May 1, 2020
(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

$

182



855



63



(44)



370



95



(94)



(284)



$

1,143


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

39



60



3



7



54





(1)



(35)



127


Net income attributable to Dell Technologies Inc. - basic

143



795



60



(51)



316



95



(93)



(249)



1,016


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

(2)

















(4)


Net income attributable to Dell Technologies Inc. - diluted

$

141

















$

1,012




















Earnings per share - basic

$

0.19

















$

1.37


Earnings per share - diluted

$

0.19

















$

1.34




















Weighted-average shares outstanding - basic

740

















740


Weighted-average shares outstanding - diluted

755

















755


_________________

(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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