Dell 2000 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2000 Dell annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

41
Table of Contents
NOTE 8 — Related Party Transactions
During fiscal year 1998, the Company and Newcourt Credit Group Inc. ("Newcourt"), formed a joint venture, Dell Financial
Services L.P. ("DFS"), to provide leasing and asset management services to the Company's customers. Subsequently, in fiscal 2000,
Newcourt was acquired by The CIT Group, Inc. The Company has a 70% equity interest in DFS; however, as the Company cannot
and does not exercise control over DFS, it accounts for the investment under the equity method. During fiscal year 2001, DFS
originated financing arrangements for the Company's customers totaling $2.5 billion as compared to originations of $1.8 billion in
fiscal year 2000. The Company's investment in DFS at February 2, 2001 and January 28, 2000, was not material to the Company's
consolidated financial position or results of operations.
NOTE 9 — Supplemental Consolidated Financial Information
February 2, January 28,
2001 2000
(in millions)
Supplemental Consolidated Statement of Financial Position Information
Accounts receivable:
Gross accounts receivable $ 2,964 $ 2,652
Allowance for doubtful accounts (69) (44)
$ 2,895 $ 2,608
Inventories:
Production materials $ 95 $ 129
Work-in-process and finished goods 305 262
$ 400 $ 391
Property, plant and equipment:
Land and buildings $ 337 $ 229
Computer equipment 415 277
Machinery and other equipment 459 383
Construction-in-progress 323 251
Total property, plant and equipment 1,534 1,140
Accumulated depreciation and amortization (538) (375)
$ 996 $ 765
Accrued and other current liabilities:
Compensation $ 428 $ 337
Deferred income 262 190
Sales and property taxes 259 238
Warranty 467 313
Income taxes 123 11
Other 718 565
$ 2,257 $ 1,654
Other noncurrent liabilities:
Deferred income $ 306 $ 271
Other 455 192
$ 761 $ 463
42
Table of Contents