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Table of Contents
Forward-Looking Statements
This Annual Report on Form 10-K contains forward-looking statements, including, without limitation, statements regarding expectations of,
or our plans for: our vision and expected benefits of the Software-Defined Data Center; newer products and services driving strong growth;
maintaining our industry leadership position; benefits of our products and services to customers and partners; sales of licenses that include
products beyond VMware vSphere hypervisor continuing to grow; increased sales of our non-standalone vSphere products; software-as-a-
service
(“SaaS”)
revenues and revenues from our hybrid cloud offerings comprising an increasing percentage of our revenues in future periods; expected
growth of hybrid cloud and SaaS revenues in 2015 and the associated negative impact on revenues and license revenues growth; synergies across
product areas; increased total costs of services revenues; investment in research and development; future competition; the impact and timing of
our realignment plan on our financial results; future amortization of software development costs; the recognition of unearned revenues; the
impact of our relationship with EMC Corporation on taxes; repurchasing at least one billion dollars of Class A common stock in 2015; customer
and partner demand for our products and services; synergies from our acquisitions and associated accounting for goodwill; the sufficiency of our
liquidity and capital reserves to fund our operations and business strategy; our ability to generate positive cash flows from operations; the impact
of the AirWatch acquisition on cash provided by operating activities; continuation of our stock repurchase program; expectations that stock-
based compensation will increase in future periods; our effective tax rate and the effects of potential developments in U.S. and non-U.S. tax
jurisdictions; the timing and outcome of the IRS tax audit of the EMC consolidated group; the amount of any unrecognized tax benefit;
acquisition accounting and the deductibility of goodwill and identifiable intangible assets for U.S. income tax purposes; utilization of net
operating loss carryforwards; anticipation that we will not declare and cash dividends; indefinitely reinvesting our overseas earnings outside of
the U.S. and not repatriating them to the U.S.; adequacy of our current facilities and the availability of additional or substitute space for future
expansion; the lack of a material effect on us due to the resolution of pending claims, legal proceedings and investigations, including the General
Services Administration and Department of Justice inquiries; and impact of foreign currency exchange rates on future revenues.
These forward-looking statements involve risks and uncertainties and the cautionary statements set forth above and those contained in the
section of this report entitled “Risk Factors” identify important factors that could cause actual results to differ materially from those predicted in
any such forward-looking statements. All forward-looking statements in this document are made as of the date hereof, based on information
available to us as of the date hereof. We assume no obligation to, and do not currently intend to, update these forward-looking statements.
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