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Table of Contents
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
FIVE YEAR SELECTED CONSOLIDATED FINANCIAL DATA
(in thousands, except per share amounts)
Year Ended December 31,
2006(1)(2)
2005(3)
2004(4)
2003(5)
2002
Summary of Operations:
Revenues $ 11,155,090 $ 9,663,955 $ 8,229,488 $ 6,236,808 $ 5,438,352
Operating income (loss) 1,207,758 1,480,422 1,043,993 401,157 (493,831)
Net income (loss) 1,223,982 1,133,165 871,189 496,108 (118,706)
Net income (loss) per weighted
average share, basic $ 0.54 $ 0.48 $ 0.36 $ 0.22 $ (0.05)
Net income (loss) per weighted
average share, diluted $ 0.54 $ 0.47 $ 0.36 $ 0.22 $ (0.05)
Weighted average shares,
basic 2,248,431 2,382,977 2,402,198 2,211,544 2,206,294
Weighted average shares,
diluted 2,286,304 2,432,582 2,450,570 2,237,656 2,206,294
Balance Sheet Data:
Working capital $ 2,639,483 $ 2,900,118 $ 1,882,226 $ 2,140,775 $ 2,175,598
Total assets 18,566,247 16,790,383 15,422,906 14,092,860 9,590,447
Long-term obligations(6) 3,454,665 129,994 130,844 132,634 6,963
Stockholders' equity 10,325,707 12,065,430 11,523,287 10,884,721 7,226,002
(1) In 2006, EMC adopted FAS No. 123R "Share-based Payment" which requires the expensing of stock options. As a result of adopting the new standard, Operating income
decreased by $241.6 million, Net income decreased by $204.5 million, Net income per weighted average share, basic decreased by $0.10 and Net income per weighted average
share, diluted decreased by $0.09.
(2) In 2006, EMC acquired all of the outstanding shares of RSA Security Inc. ("RSA"), Network Intelligence Corporation ("Network Intelligence"), Kashya, Inc. ("Kashya"),
Interlink Group, Inc. ("Interlink"), nLayers Ltd. ("nLayers"), Akimbi Systems, Inc. ("Akimbi") and Avamar Technologies, Inc. ("Avamar") and acquired the assets of
ProActivity Software Solutions Ltd., ("ProActivity") (see Note B to the Consolidated Financial Statements).
(3) In 2005, EMC acquired all of the outstanding shares of System Management Arts Incorporated ("Smarts") and Captiva Software Corporation ("Captiva") (see Note B to the
Consolidated Financial Statements).
(4) In 2004, EMC acquired all of the outstanding shares of VMware, Inc. ("VMware") (see Note B to the Consolidated Financial Statements).
(5) In 2003, EMC acquired all of the outstanding shares of LEGATO Systems, Inc. ("LEGATO") and Documentum, Inc. ("Documentum").
(6) Includes long-term convertible debt and capital leases, excluding current portion.
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