Dell 2007 Annual Report Download - page 24

Table of Contents
"Part II — Item 8 — Financial Statements and Supplementary Data" and from our previously filed Annual Report on Form 10-K for
Fiscal 2007. The data for the remaining periods are derived from our unaudited financial statements for the respective periods.
Fiscal Year Ended
February 2, February 3, January 28, January 30,
February 1, 2008(c) 2007(c) 2006(a) 2005(b) 2004
unaudited
(in millions, except per share data)
Results of Operations:
Net revenue $ 61,133 $ 57,420 $ 55,788 $ 49,121 $ 41,327
Gross margin $ 11,671 $ 9,516 $ 9,891 $ 9,018 $ 7,563
Operating income $ 3,440 $ 3,070 $ 4,382 $ 4,206 $ 3,525
Income before income taxes $ 3,827 $ 3,345 $ 4,608 $ 4,403 $ 3,711
Net income $ 2,947 $ 2,583 $ 3,602 $ 3,018 $ 2,625
Earnings per common share:
Basic $ 1.33 $ 1.15 $ 1.50 $ 1.20 $ 1.02
Diluted $ 1.31 $ 1.14 $ 1.47 $ 1.18 $ 1.00
Number of weighted-average shares outstanding:
Basic 2,223 2,255 2,403 2,509 2,565
Diluted 2,247 2,271 2,449 2,568 2,619
Cash Flow & Balance Sheet Data:
Net cash provided by operating activities $ 3,949 $ 3,969 $ 4,751 $ 5,821 $ 4,064
Cash, cash equivalents and investments $ 9,532 $ 12,445 $ 11,756 $ 14,101 $ 11,921
Total assets $ 27,561 $ 25,635 $ 23,252 $ 23,318 $ 19,340
Short-term borrowings $ 225 $ 188 $ 65 $ 74 $ 157
Long-term debt $ 362 $ 569 $ 625 $ 662 $ 645
Total stockholders' equity $ 3,735 $ 4,328 $ 4,047 $ 6,412 $ 6,238
(a) Results for Fiscal 2006 include charges aggregating $421 million ($338 million of other product charges and $83 million in selling, general and administrative
expenses) related to the cost of servicing or replacing certain OptiPlexTMsystems that included a vendor part that failed to perform to our specifications,
workforce realignment, product rationalizations, excess facilities, and a write-off of goodwill recognized in the third quarter. The related tax effect of these
items was $96 million. Fiscal 2006 also includes an $85 million income tax benefit related to a revised estimate of taxes on the repatriation of earnings under
the American Jobs Creation Act of 2004 recognized in the second quarter.
(b) Results for Fiscal 2005 include an income tax charge of $280 million related to the repatriation of earnings under the American Jobs Creation Act of 2004
recorded in the fourth quarter.
(c) Results for Fiscal 2008 and Fiscal 2007 include stock-based compensation expense pursuant to Statement of Financial Accounting Standards No. 123 (revised
2004), Share-Based Payment ("SFAS 123(R)"). See Note 5 of Notes to Consolidated Financial Statements included in "Part II — Item 8 — Financial
Statements and Supplementary Data."
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