Dell 1998 Annual Report Download - page 23

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evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed above.
PRICEWATERHOUSECOOPERS LLP
Austin, Texas
February 16, 1999
29
<PAGE> 31
DELL COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(IN MILLIONS)
ASSETS
JANUARY 29, FEBRUARY 1,
1999 1998
----------- -----------
Current assets:
Cash...................................................... $ 520 $ 320
Marketable securities..................................... 2,661 1,524
Accounts receivable, net.................................. 2,094 1,486
Inventories............................................... 273 233
Other..................................................... 791 349
------ ------
Total current assets.............................. 6,339 3,912
Property, plant and equipment, net.......................... 523 342
Other....................................................... 15 14
------ ------
Total assets...................................... $6,877 $4,268
====== ======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable.......................................... $2,397 $1,643
Accrued and other......................................... 1,298 1,054
------ ------
Total current liabilities......................... 3,695 2,697
Long-term debt.............................................. 512 17
Other....................................................... 349 261
Commitments and contingent liabilities...................... -- --
------ ------
Total liabilities................................. 4,556 2,975
------ ------
Stockholders' equity:
Preferred stock and capital in excess of $.01 par value;
shares issued and outstanding: none.................... -- --
Common stock and capital in excess of $.01 par value;
shares issued and outstanding: 2,543 and 2,575,
respectively........................................... 1,781 747
Retained earnings......................................... 606 607
Other..................................................... (66) (61)
------ ------
Total stockholders' equity........................ 2,321 1,293
------ ------
Total liabilities and stockholders' equity........ $6,877 $4,268
====== ======
The accompanying notes are an integral part of these consolidated financial
statements.
30
<PAGE> 32
DELL COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(IN MILLIONS)
FISCAL YEAR ENDED
---------------------------------------
JANUARY 29, FEBRUARY 1, FEBRUARY 2,
1999 1998 1997
----------- ----------- -----------
Net revenue............................................... $18,243 $12,327 $7,759
Cost of revenue........................................... 14,137 9,605 6,093
------- ------- ------
Gross margin............................................ 4,106 2,722 1,666
------- ------- ------
Operating expenses:
Selling, general and administrative..................... 1,788 1,202 826
Research, development and engineering................... 272 204 126