Dell 2002 Annual Report Download - page 36

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Table of Contents
DELL COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
Fiscal Year Ended
January 31, February 1, February 2,
2003 2002 2001
Cash flows from operating activities:
Net income $ 2,122 $ 1,246 $ 2,177
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 211 239 240
Tax benefits of employee stock plans 260 487 929
Special charges — 742 105
(Gains)/losses on investments (67) 17 (307)
Other, primarily effects of exchange rate changes on monetary assets and liabilities denominated in foreign
currencies (410) 178 135
Changes in:
Operating working capital 1,210 826 642
Non-current assets and liabilities 212 62 274
Net cash provided by operating activities 3,538 3,797 4,195
Cash flows from investing activities:
Investments:
Purchases (8,736) (5,382) (2,606)
Maturities and sales 7,660 3,425 2,331
Capital expenditures (305) (303) (482)
Net cash used in investing activities (1,381) (2,260) (757)
Cash flows from financing activities:
Purchase of common stock (2,290) (3,000) (2,700)
Issuance of common stock under employee plans and other 265 298 395
Net cash used in financing activities (2,025) (2,702) (2,305)
Effect of exchange rate changes on cash 459 (104) (32)
Net increase (decrease) in cash 591 (1,269) 1,101
Cash and cash equivalents at beginning of period 3,641 4,910 3,809
Cash and cash equivalents at end of period $ 4,232 $ 3,641 $ 4,910
The accompanying notes are an integral part of these consolidated financial statements.
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