Dell 2011 Annual Report Download - page 38

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Table of Contents
The table below presents a reconciliation of each non-GAAP financial measure to the most comparable GAAP measure for each of the past three fiscal years:
Fiscal Year Ended
February 3,
2012 % Change January 28,
2011 % Change January 29, 2010
(in millions, except percentages)
GAAP gross margin $ 13,811 21% $ 11,396 23% $ 9,261
Non-GAAP adjustments:
Amortization of intangibles 305 278 151
Severance and facility actions and acquisition-related costs 49 57 237
Non-GAAP gross margin $ 14,165 21% $ 11,731 22% $ 9,649
GAAP operating expenses $ 9,380 18% $ 7,963 12% $ 7,089
Non-GAAP adjustments:
Amortization of intangibles (86) (71) (54)
Severance and facility actions and acquisition-related costs (264) (170) (360)
Other fees and settlements — (140) —
Non-GAAP operating expenses $ 9,030 19% $ 7,582 14% $ 6,675
GAAP operating income $ 4,431 29% $ 3,433 58% $ 2,172
Non-GAAP adjustments:
Amortization of intangibles 391 349 205
Severance and facility actions and acquisition-related costs 313 227 597
Other fees and settlements — 140 —
Non-GAAP operating income $ 5,135 24% $ 4,149 40% $ 2,974
GAAP net income $ 3,492 33% $ 2,635 84% $ 1,433
Non-GAAP adjustments:
Amortization of intangibles 391 349 205
Severance and facility actions and acquisition-related costs 313 227 597
Other fees and settlements — 68 —
Aggregate adjustment for income taxes (244) (173) (181)
Non-GAAP net income $ 3,952 27% $ 3,106 51% $ 2,054
GAAP earnings per share - diluted $ 1.88 39% $ 1.35 85% $ 0.73
Non-GAAP adjustments per share - diluted 0.25 0.24 0.32
Non-GAAP earnings per share - diluted $ 2.13 34% $ 1.59 51% $ 1.05
36