Dell 1997 Annual Report Download - page 29

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Accrued and other liabilities:
Accrued compensation...................................... $ 236 $ 113
Deferred revenue on warranty contracts.................... 193 126
Book overdrafts........................................... 146 27
Accrued warranty costs.................................... 139 111
Taxes other than income taxes............................. 122 74
Other..................................................... 218 167
------ -----
$1,054 $ 618
====== =====
36
<PAGE> 38
FISCAL YEAR ENDED
----------------------------------------
FEBRUARY 1, FEBRUARY 2, JANUARY 28,
1998 1997 1996
----------- ----------- -----------
(IN MILLIONS)
SUPPLEMENTAL CONSOLIDATED STATEMENT OF INCOME INFORMATION
Research, development and engineering expenses:
Research and development expenses....................... $ 145 $ 88 $ 62
Engineering expenses.................................... 59 38 33
----- ----- -----
$ 204 $ 126 $ 95
===== ===== =====
Financing and other:
Interest expense........................................ $ (3) $ (7) $ (15)
Investment and other income, net........................ 55 40 21
----- ----- -----
$ 52 $ 33 $ 6
===== ===== =====
SUPPLEMENTAL CONSOLIDATED STATEMENT OF CASH FLOWS INFORMATION
Changes in operating working capital accounts:
Accounts receivable, net................................ $(638) $(200) $(196)
Inventories............................................. 16 177 (138)
Accounts payable........................................ 638 581 59
Accrued and other liabilities........................... 644 141 126
Other, net.............................................. (131) (40) (46)
----- ----- -----
$ 529 $ 659 $(195)
===== ===== =====
Supplemental cash flow information:
Income taxes paid....................................... $ 274 $ 178 $ 117
Interest paid........................................... $ 3 $ 12 $ 17
NOTE 13 -- UNAUDITED QUARTERLY RESULTS
The following tables contain selected unaudited Consolidated Statement of Income
and stock price data for each quarter of fiscal 1998 and 1997.
FISCAL YEAR 1998
---------------------------------------------------
4TH 3RD 2ND 1ST
QUARTER QUARTER QUARTER QUARTER
------- ------- ------- -------
(IN MILLIONS, EXCEPT PER SHARE DATA)
Net revenues.............................................. $3,737 $3,188 $2,814 $2,588
Gross margin.............................................. $ 822 $ 718 $ 624 $ 558
Income before extraordinary loss.......................... $ 285 $ 248 $ 214 $ 198
Net income................................................ $ 285 $ 248 $ 214 $ 198
Income before extraordinary loss per common share(a):
Basic................................................... $ 0.44 $ 0.38 $ 0.32 $ 0.29
Diluted................................................. $ 0.40 $ 0.34 $ 0.29 $ 0.27
Weighted average shares outstanding(a):
Basic................................................... 641 653 663 675
Diluted................................................. 706 721 729 734
Stock sales prices per share(a):
High.................................................... $ 50 17/32 $ 51 15/16 $ 43 3/8 $ 23
Low..................................................... $ 35 $ 36 1/2 $ 22 1/8 $ 14 31/32
37
<PAGE> 39
FISCAL YEAR 1997
---------------------------------------------------
4TH 3RD 2ND 1ST
QUARTER QUARTER QUARTER QUARTER
------- ------- ------- -------
(IN MILLIONS, EXCEPT PER SHARE DATA)
Net revenues......................................... $2,412 $2,019 $1,690 $1,638
Gross margin......................................... $ 524 $ 450 $ 373 $ 319