Dell 2008 Annual Report Download - page 92
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Table of Contents
DELL INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
segment. Dell will begin reporting these four global businesses once it completes the realignment of its management and financial reporting structure
which is expected to be in the first half of Fiscal 2010.
Corporate expenses are included in Dell's measure of segment operating income for management reporting purposes; however, with the adoption of
SFAS 123(R), stock-based compensation expense is not allocated to Dell's operating segments. Beginning in the fourth quarter of Fiscal 2008,
acquisition-related charges such as in-process research and development and amortization of intangibles are not allocated to Dell's operating
segments. The asset totals disclosed by geography are directly managed by those regions and include accounts receivable, inventory, certain fixed
assets, and certain other assets. Corporate assets primarily include cash and cash equivalents, investments, deferred tax assets, goodwill, intangible
assets, and other assets.
The following tables present net revenue by Dell's reportable segments as well as a reconciliation of consolidated segment operating income to Dell's
consolidated operating income:
Fiscal Year Ended
January 30, February 1, February 2,
2009 2008 2007
(in millions)
Net revenue
Americas Commercial $ 28,614 $ 29,981 $ 28,289
EMEA Commercial 13,617 13,607 11,842
APJ Commercial 7,341 7,167 6,223
Global Consumer 11,529 10,378 11,066
Net revenue $ 61,101 $ 61,133 $ 57,420
Consolidated operating income
Americas Commercial $ 2,568 $ 2,566 $ 2,351
EMEA Commercial 544 978 622
APJ Commercial 458 424 335
Global Consumer 143 2 130
Consolidated segment operating income $ 3,713 $ 3,970 $ 3,438
Stock-based compensation expense(a) (418) (436) (368)
In-process research and development(b) (2) (83) -
Amortization of intangible assets(b) (103) (11) -
Consolidated operating income $ 3,190 $ 3,440 $ 3,070
(a) Stock-based compensation expense includes $104 million of expense for accelerated options in Fiscal 2009 and $107 million of cash expense for expired stock options in
Fiscal 2008. See Note 5 of Notes to Consolidated Financial Statements for additional information.
(b) Prior to the fourth quarter of Fiscal 2008, amortization of intangibles and IPR&D expenses of $16 million and $5 million are included in total consolidated segment operating
income in Fiscal 2008 and 2007, respectively.
88