Dell 2005 Annual Report Download - page 42

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Table of Contents
DELL INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Fiscal Year Ended
February 3, January 28, January 30,
2006 2005 2004
Cash flows from operating activities:
Net income $ 3,572 $ 3,043 $ 2,645
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 393 334 263
Tax benefits of employee stock plans 261 249 181
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign
currencies 70 (602) (677)
Other 188 78 113
Changes in:
Operating working capital (67) 1,755 872
Non-current assets and liabilities 422 453 273
Net cash provided by operating activities 4,839 5,310 3,670
Cash flows from investing activities:
Investments:
Purchases (7,562) (12,261) (12,099)
Maturities and sales 12,168 10,469 10,078
Capital expenditures (728) (525) (329)
Purchase of assets held in master lease facilities — — (636)
Cash assumed in consolidation of Dell Financial Services L.P. — — 172
Net cash provided by (used in) investing activities 3,878 (2,317) (2,814)
Cash flows from financing activities:
Repurchase of common stock (7,249) (4,219) (2,000)
Issuance of common stock under employee plans and other 1,023 1,091 617
Net cash used in financing activities (6,226) (3,128) (1,383)
Effect of exchange rate changes on cash and cash equivalents (196) 565 612
Net increase in cash and cash equivalents 2,295 430 85
Cash and cash equivalents at beginning of period 4,747 4,317 4,232
Cash and cash equivalents at end of period $ 7,042 $ 4,747 $ 4,317
The accompanying notes are an integral part of these consolidated financial statements.
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