Dell 2001 Annual Report Download - page 36

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Table of Contents
DELL COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(in millions, except per share amounts)
Fiscal Year Ended
February 1, February 2, January 28,
2002 2001 2000
Net revenue $ 31,168 $ 31,888 $ 25,265
Cost of revenue 25,661 25,445 20,047
Gross margin 5,507 6,443 5,218
Operating expenses:
Selling, general and administrative 2,784 3,193 2,387
Research, development and engineering 452 482 374
Special charges 482 105 194
Total operating expenses 3,718 3,780 2,955
Operating income 1,789 2,663 2,263
Investment and other income (loss), net (58) 531 188
Income before income taxes and cumulative effect of change in accounting principle 1,731 3,194 2,451
Provision for income taxes 485 958 785
Income before cumulative effect of change in accounting principle 1,246 2,236 1,666
Cumulative effect of change in accounting principle, net — 59 —
Net income $ 1,246 $ 2,177 $ 1,666
Earnings per common share:
Before cumulative effect of change in accounting principle:
Basic $ 0.48 $ 0.87 $ 0.66
Diluted $ 0.46 $ 0.81 $ 0.61
After cumulative effect of change in accounting principle:
Basic $ 0.48 $ 0.84 $ 0.66
Diluted $ 0.46 $ 0.79 $ 0.61
Weighted average shares outstanding:
Basic 2,602 2,582 2,536
Diluted 2,726 2,746 2,728
The accompanying notes are an integral part of these consolidated financial statements.
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