Dell 2011 Annual Report Download - page 46

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Table of Contents
of February 3, 2012, from $6.0 billion as of January 28, 2011.
The year-over-year decrease in other income was primarily due to a $72 million merger termination fee that we received during Fiscal 2011.
Fiscal 2011 compared to Fiscal 2010
During Fiscal 2011 and Fiscal 2010, we maintained a portfolio of instruments with shorter maturities, which typically carry lower market yields. During
Fiscal 2011, our investment income declined slightly, even with higher average balances, primarily due to a continued declined in market yields. Overall
investment yield in Fiscal 2011 declined from approximately 48 basis points during Fiscal 2010 to approximately 35 basis points.
The year-over-year increase in interest expense for Fiscal 2011 was due to higher debt levels, which increased to $6.0 billion as of January 28, 2011, from
$4.1 billion as of January 29, 2010.
The year-over-year change in foreign exchange for Fiscal 2011 was primarily due to gains from revaluation of certain un-hedged foreign currency balances,
the effect of which was partially offset by increases in the costs associated with the hedge program.
Other includes a $72 million merger termination fee that we received during Fiscal 2011.
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