Dell 1999 Annual Report Download - page 14

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At January 28, 2000, the Company's international facilities consisted of approximately 2.5 million square feet of office and
manufacturing space in 33 countries. Approximately 1.6 million square feet of this space is leased property, with lease expiration dates
ranging from April 2000 to December 2013.
The Company also owns approximately 888,000 square feet of space, comprised of 238,000 square feet of combined office and
manufacturing space in Penang, Malaysia (located on land leased until the year 2053 from the State Authority of Penang), and
approximately 650,000 square feet of manufacturing and office space in Ireland. Over 300,000 square feet of additional office and
manufacturing space is under construction in Xiamen, China.
ITEM 3 — LEGAL PROCEEDINGS
The Company is subject to various legal proceedings and claims arising in the ordinary course of business. The Company's
management does not expect that the results in any of these legal proceedings will have a material adverse effect on the Company's
financial condition, results of operations or cash flows.
ITEM 4 — SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter was submitted to a vote of the Company's stockholders, through the solicitation of proxies or otherwise, during the fourth
quarter of fiscal year 2000.
17
PART II
ITEM 5 —MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
Market Information
The Company's common stock is traded on The Nasdaq National Market under the symbol DELL. Information regarding the market
prices of the Company's common stock may be found in Note 14 of Notes to Consolidated Financial Statements included in
"Item 8 — Financial Statements and Supplementary Data."
Holders
As of March 24, 2000, there were 34,781 holders of record of the Company's common stock.
Dividends
The Company has never paid cash dividends on its common stock and does not anticipate paying any cash dividends on its common
stock for at least the next 12 months.
On each of March 6, 1998, September 4, 1998 and March 5, 1999, the Company effected a two-for-one common stock split by paying
a 100% stock dividend to stockholders of record as of February 27, 1998, August 28, 1998 and February 26, 1999, respectively.
Sales of Unregistered Securities
The Company has an active stock repurchase program, which is more fully described in Note 7 of Notes to Consolidated Financial
Statements included in "Item 8 — Financial Statements and Supplementary Data." One element of the program is the purchase of call
options and the sales of put and call options. During fiscal year 2000, the Company sold 79 million put options and forwards to third
party financial intermediaries and received proceeds of $59 million in connection with such sales. The Company also sold 3.25 million
call options to third party financial intermediaries and received proceeds of $4 million in connection with such sales. The put and call
options entitle each holder to sell or purchase, respectively, by physical delivery, cash delivery or net-share settlement, at the
Company's option, one share of common stock at a specified price. The put options sold by the Company during the year expire on
various dates through September 2001 and have exercise prices ranging from $25 to $47 per share with an average exercise price of
$39. The call options sold by the Company during the fiscal year expire on various dates through July 2000 and have exercise prices
ranging from $48 to $87 per share, with an average exercise price of $62.
All of these transactions were exempt from registration under Section 4 (2) of the Securities Act of 1933. Each transaction was
privately negotiated, and each purchaser of options was an accredited investor and qualified institutional buyer. No public solicitation
was made by the Company in the placement of these securities.
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ITEM 6 — SELECTED FINANCIAL DATA
The following selected financial data should be read in conjunction "Item 7 — Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Item 8 — Financial Statements and Supplementary Data."