Dell 2011 Annual Report Download - page 63

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Table of Contents
DELL INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Fiscal Year Ended
February 3,
2012 January 28,
2011 January 29,
2010
Cash flows from operating activities:
Net income $ 3,492 $ 2,635 $ 1,433
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 936 970 852
Stock-based compensation expense 362 332 312
Effects of exchange rate changes on monetary assets and liabilities denominated in foreign currencies (5) (4) 59
Deferred income taxes 19 (45) (52)
Provision for doubtful accounts — including financing receivables 234 382 429
Other 21 26 102
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable (53) (707) (660)
Financing receivables (372) (709) (1,085)
Inventories (52) (248) (183)
Other assets (28) 516 (225)
Accounts payable 327 (151) 2,833
Deferred services revenue 720 551 135
Accrued and other liabilities (74) 421 (44)
Change in cash from operating activities 5,527 3,969 3,906
Cash flows from investing activities:
Investments:
Purchases (4,656) (1,360) (1,383)
Maturities and sales 1,435 1,358 1,538
Capital expenditures (675) (444) (367)
Proceeds from sale of facilities and land 14 18 16
Purchase of financing receivables — (430) —
Collections on purchased financing receivables 278 69 —
Acquisitions, net of cash received (2,562) (376) (3,613)
Change in cash from investing activities (6,166) (1,165) (3,809)
Cash flows from financing activities:
Repurchases of common stock (2,717) (800) —
Issuance of common stock under employee plans 40 12 2
Issuance (repayment) of commercial paper (maturity 90 days or less), net 635 (176) 76
Proceeds from debt 4,050 3,069 2,058
Repayments of debt (1,435) (1,630) (122)
Other 4 2 (2)
Change in cash from financing activities 577 477 2,012
Effect of exchange rate changes on cash and cash equivalents 1 (3) 174
Change in cash and cash equivalents (61) 3,278 2,283
Cash and cash equivalents at beginning of the period 13,913 10,635 8,352
Cash and cash equivalents at end of the period $ 13,852 $ 13,913 $ 10,635
Income tax paid $ 408 $ 435 $ 434
Interest paid $ 267 $ 188 $ 151
The accompanying notes are an integral part of these consolidated financial statements.
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