Dell 2007 Annual Report Download - page 53

Table of Contents
DELL INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Fiscal Year Ended
February 1, February 2, February 3,
2008 2007 2006
Cash flows from operating activities:
Net income $ 2,947 $ 2,583 $ 3,602
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 607 471 394
Stock-based compensation 329 368 17
In-process research and development charges 83 - -
Excess tax benefits from stock-based compensation (12) (80) -
Tax benefits from employee stock plans - - 224
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign
currencies 30 37 (3)
Other 133 61 157
Changes in:
Operating working capital (519) 397 (53)
Non-current assets and liabilities 351 132 413
Net cash provided by operating activities 3,949 3,969 4,751
Cash flows from investing activities:
Investments:
Purchases (2,394) (8,343) (6,796)
Maturities and sales 3,679 10,320 11,692
Capital expenditures (831) (896) (747)
Acquisition of business, net of cash received (2,217) (118) -
Proceeds from sale of building - 40 -
Net cash (used in) provided by investing activities (1,763) 1,003 4,149
Cash flows from financing activities:
Repurchase of common stock (4,004) (3,026) (7,249)
Issuance of common stock under employee plans 136 314 1,051
Excess tax benefits from stock-based compensation 12 80 -
(Repayment) issuance of commercial paper, net (100) 100 -
Repayments of borrowings (165) (63) (81)
Proceeds from borrowings 66 52 55
Other (65) (8) (28)
Net cash used in financing activities (4,120) (2,551) (6,252)
Effect of exchange rate changes on cash and cash equivalents 152 71 (73)
Net (decrease) increase in cash and cash equivalents (1,782) 2,492 2,575
Cash and cash equivalents at beginning of year 9,546 7,054 4,479
Cash and cash equivalents at end of year $ 7,764 $ 9,546 $ 7,054
The accompanying notes are an integral part of these consolidated financial statements.
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