Dell 1997 Annual Report Download - page 19

Issuance of common stock under employee plans............ 88 57 48
Cash received from sale of equity options................ 38 -- --
Preferred stock dividends and other...................... (1) -- (14)
-------- ------- -------
Net cash (used in) provided by financing
activities..................................... (898) (533) 34
-------- ------- -------
Effect of exchange rate changes on cash.................... (14) (8) 7
-------- ------- -------
Net increase in cash....................................... 205 60 12
Cash at beginning of period................................ 115 55 43
-------- ------- -------
Cash at end of period...................................... $ 320 $ 115 $ 55
======== ======= =======
The accompanying notes are an integral part of these consolidated financial
statements.
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DELL COMPUTER CORPORATION
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
(IN MILLIONS)
PREFERRED STOCK
AND CAPITAL IN COMMON STOCK AND
EXCESS OF PAR CAPITAL IN EXCESS
VALUE OF PAR VALUE
---------------- ------------------ RETAINED
SHARES AMOUNT SHARES AMOUNT EARNINGS OTHER TOTAL
------ ------ ------- ------- -------- ----- -------
Balances at January 29, 1995.......... 1 $ 120 635 $ 242 $ 311 $(21) $ 652
Net income.......................... -- -- -- -- 272 -- 272
Stock issuance under employee plans,
including tax benefits........... -- -- 33 74 -- (17) 57
Preferred stock conversion.......... (1) (114) 80 114 -- -- --
Other............................... -- -- -- -- (13) 5 (8)
Balances at January 28, 1996.......... -- 6 748 430 570 (33) 973
Net income.......................... -- -- -- -- 518 -- 518
Stock issuance under employee plans,
including tax benefits........... -- -- 6 65 -- (18) 47
Purchase and retirement of 62
million shares................... -- -- (62) (22) (388) -- (410)
Purchase and reissuance of 19
million shares for employee plans
and preferred stock conversion... -- (6) -- -- (55) -- (61)
Reclassification of put options..... -- -- -- (279) -- -- (279)
Other............................... -- -- -- 1 2 15 18
Balances at February 2, 1997.......... -- -- 692 195 647 (36) 806
Net income.......................... -- -- -- -- 944 -- 944
Stock issuance under employee plans,
including tax benefits........... -- 21 274 -- (11) 263
Purchase and retirement of 69
million shares................... -- (69) (39) (984) -- (1,023)
Reclassification of put options..... -- -- -- 279 -- -- 279
Other............................... -- -- -- 38 -- (14) 24
Balances at February 1, 1998.......... -- $ -- 644 $ 747 $ 607 $(61) $ 1,293
The accompanying notes are an integral part of these consolidated financial
statements.
24
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DELL COMPUTER CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1 -- DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Business -- Dell Computer Corporation, a Delaware corporation
(including its consolidated subsidiaries, the "Company") designs, develops,
manufactures, markets, services and supports a wide range of computer systems,
including desktops, notebooks and enterprise systems (includes servers and
workstations), and also markets software, peripherals and service and support
programs. The Company markets its computer products and services under the
Dell(R) brand name directly to its customers. These customers include major
corporate, government, medical and education accounts, as well as
small-to-medium businesses and individuals. The Company conducts operations