5/30/20240001571996false00015719962024-05-302024-05-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549  
FORM 8-K

 CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 30, 2024
 ______________________
Dell Technologies Inc.
(Exact name of registrant as specified in its charter)
 ______________________
Delaware 001-37867 80-0890963
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
One Dell Way 
Round Rock,
Texas
78682
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (800) 289-3355
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class C Common Stock, par value $0.01 per shareDELLNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02    Results of Operations and Financial Condition.

On May 30, 2024, Dell Technologies Inc. (the “Company” or “Dell”) issued a press release announcing its financial results for its fiscal quarter ended May 3, 2024. A copy of the press release is furnished as Exhibit 99.1 to this current report.

In accordance with General Instruction B.2 to Form 8-K, the information contained in this Item 2.02 and in Exhibit 99.1 to this current report is being “furnished” with the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under such section. Further, such information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified as being incorporated therein by reference.

Item 9.01    Financial Statements and Exhibits.

(d)  Exhibits.

The following documents are herewith filed or furnished as exhibits to this report:
Exhibit
Number		  Description
  
104Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document.

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 30, 2024Dell Technologies Inc.
By:/s/ Christopher Garcia
Christopher Garcia
Senior Vice President and Assistant Secretary
 (Duly Authorized Officer)
 

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Exhibit 99.1

 delltech-logoxprmxbluexrgb.jpg


Dell Technologies Delivers First Quarter Fiscal 2025 Financial Results



News summary
•First quarter revenue of $22.2 billion, up 6% year over year
•Infrastructure Solutions Group (ISG) revenue of $9.2 billion, up 22% year over year, with record servers and networking revenue of $5.5 billion, up 42%
•Client Solutions Group (CSG) revenue of $12.0 billion, flat year over year, with commercial client revenue at $10.2 billion, up 3%
•Diluted earnings per share of $1.32, up 67% year over year, and non-GAAP diluted earnings per share of $1.27, down 3%


ROUND ROCK, Texas — May 30, 2024

Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2025 first quarter. Revenue was $22.2 billion, up 6% year over year. Operating income was $920 million and non-GAAP operating income was $1.5 billion, down 14% and 8% year over year, respectively. Cash flow from operations was $1.0 billion. Diluted earnings per share was $1.32, and non-GAAP diluted earnings per share was $1.27, up 67% and down 3% year over year, respectively.

Dell returned $1.1 billion to shareholders through share repurchases and dividends and ended the quarter with $7.3 billion in cash and investments.

“We again demonstrated our ability to execute and deliver strong cash flow, with AI continuing to drive new growth,” said Yvonne McGill, chief financial officer, Dell Technologies. “Revenue was up 6% at $22.2 billion, servers and networking revenue was up 42%, and we generated $7.9 billion of cash flow from operations over the last 12 months.”
1

First Quarter Fiscal 2025 Financial Results
Three Months Ended
May 3, 2024May 5, 2023Change
(in millions, except per share amounts and percentages; unaudited)
Net revenue$22,244 $20,922 6%
Operating income$920 $1,069 (14)%
Net income$955 $578 65%
Change in cash from operating activities$1,043 $1,777 (41)%
Earnings per share - diluted$1.32 $0.79 67%
Non-GAAP operating income$1,474 $1,598 (8)%
Non-GAAP net income$923 $963 (4)%
Adjusted free cash flow$623 $687 (9)%
Non-GAAP earnings per share - diluted$1.27 $1.31 (3)%
Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.

Infrastructure Solutions Group (ISG) delivered first quarter revenue of $9.2 billion, up 22% year over year. Servers and networking revenue was a record $5.5 billion, up 42%, with demand strength across AI and traditional servers. Storage revenue was flat at $3.8 billion. Operating income was $736 million.

Client Solutions Group (CSG) delivered first quarter revenue of $12.0 billion, flat year over year. Commercial client revenue was $10.2 billion, up 3% year over year, and Consumer revenue was $1.8 billion, down 15%. Operating income was $732 million.

“No company is better positioned than Dell to bring AI to the enterprise,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. “Servers and networking hit record revenue in Q1, with our AI-optimized server orders increasing sequentially to $2.6 billion, shipments up more than 100% to $1.7 billion, and backlog growing more than 30% to $3.8 billion.”

Dell Technologies World
On May 20, Dell expanded the industry’s broadest AI solutions portfolio from desktop to data center to cloud with innovations designed to accelerate AI adoption and innovation:

•The Dell AI Factory combines Dell infrastructure, solutions and services optimized for AI workloads with an open ecosystem of partners including NVIDIA, Meta, Microsoft and Hugging Face.
•The Dell AI Factory with NVIDIA includes the new PowerEdge XE9680L server, which offers direct liquid cooling in a 4U form factor and can support 72 NVIDIA Blackwell GPUs in a single rack – 33% more GPU density per node compared to the XE9680.
•Dell PowerStore software updates give customers up to a 66% performance boost, native sync replication for file and block and improved multicloud data mobility capabilities.
•New AI PCs are Copilot+ and powered by Qualcomm Snapdragon® X Elite and Snapdragon® X Plus processors, delivering exceptional battery life and AI performance.


2

Operating Segments Results
Three Months Ended
May 3, 2024May 5, 2023Change
(in millions, except percentages; unaudited)
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking$5,466$3,837 42%
Storage3,761 3,756 —%
Total ISG net revenue$9,227 $7,593 22%
Operating Income:
ISG operating income$736 $740 (1)%
% of ISG net revenue8.0 %9.7 %
% of total reportable segment operating income50 %45 %
Client Solutions Group (CSG):
Net revenue:
Commercial$10,154 $9,862 3%
Consumer1,813 2,121 (15)%
Total CSG net revenue$11,967 $11,983 —%
Operating Income:
CSG operating income$732 $892 (18)%
% of CSG net revenue6.1 %7.4 %
% of total reportable segment operating income50 %55 %

Conference call information
As previously announced, the company will hold a conference call to discuss its performance and financial guidance on May 30 at 3:30 p.m. CDT. Prior to the start of the conference call, prepared remarks and a presentation containing additional financial and operating information prior to financial guidance may be downloaded from investors.delltechnologies.com. The conference call will be broadcast live over the internet and can be accessed at https://investors.delltechnologies.com/news-events/upcoming-events.

For those unable to listen to the live broadcast, the final remarks and presentation with financial guidance will be available following the broadcast, and an archived version will be available at the same location for one year.

About Dell Technologies
Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

Contacts
Investors: Investor_Relations@Dell.com
Media: Media.Relations@Dell.com
# # #

3

Copyright © 2024 Dell Inc. or its subsidiaries. All Rights Reserved. Dell Technologies, Dell, EMC and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other trademarks may be trademarks of their respective owners.

Non-GAAP Financial Measures:
This press release presents information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow, and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the attached tables for each of the fiscal periods indicated.

Special Note on Forward-Looking Statements:
Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Dell Technologies’ current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes.

Dell Technologies’ results or events in future periods could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: adverse global economic conditions and instability in financial markets; competitive pressures; Dell Technologies’ reliance on third-party suppliers for products and components, including reliance on single-source or limited-source suppliers; Dell Technologies’ ability to achieve favorable pricing from its vendors; Dell Technologies’ execution of its strategy; social and ethical issues relating to the use of new and evolving technologies; Dell Technologies’ ability to manage solutions and products and services transitions in an effective manner; Dell Technologies’ ability to deliver high-quality products, software, and services; cyber attacks or other data security incidents; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions, divestitures or cost savings measures; Dell Technologies’ foreign operations and ability to generate substantial non-U.S. net revenue; Dell Technologies’ product, services, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell Technologies’ sales channel partners; access to the capital markets by Dell Technologies or its customers; material impairment of the value of goodwill or intangible assets; adverse economic conditions and the effect of additional regulation on Dell Technologies’ financial services activities; counterparty default risks; the loss by Dell Technologies of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; loss by Dell Technologies of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; disruptions in Dell Technologies’ infrastructure; Dell Technologies’ ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; expectations relating to environmental, social and governance (ESG) considerations; compliance requirements of changing environmental and safety laws, human rights laws, or other laws; the effect of armed hostilities, terrorism, natural disasters, or public health issues; the effect of global climate change and legal, regulatory, or market measures to address climate change; Dell Technologies’ dependence on the services of Michael Dell and key employees; Dell Technologies’ level of indebtedness; and business and financial factors and legal restrictions affecting continuation of Dell Technologies’ quarterly cash dividend policy and dividend rate.

This list of risks, uncertainties, and other factors is not complete. Dell Technologies discusses some of these matters more fully, as well as certain risk factors that could affect Dell Technologies’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Dell Technologies’ annual report on Form 10-K for the fiscal year ended February 2, 2024, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. Dell Technologies does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise.

4

DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Income and Related Financial Highlights
(in millions, except percentages; unaudited)
Three Months Ended
May 3, 2024May 5, 2023Change
Net revenue:
Products$16,127 $15,036 7%
Services6,117 5,886 4%
Total net revenue22,244 20,922 6%
Cost of net revenue:
Products13,766 12,375 11%
Services3,672 3,529 4%
Total cost of net revenue17,438 15,904 10%
Gross margin4,806 5,018 (4)%
Operating expenses:
Selling, general, and administrative3,123 3,261 (4)%
Research and development763 688 11%
Total operating expenses3,886 3,949 (2)%
Operating income920 1,069 (14)%
Interest and other, net(373)(364)(2)%
Income before income taxes547 705 (22)%
Income tax expense (benefit)(408)127 (421)%
Net income955 578 65%
Net income attributable to Dell Technologies Inc.$960 $583 65%
Percentage of Total Net Revenue:
Gross margin21.6 %24.0 %
Selling, general, and administrative14.1 %15.6 %
Research and development3.4 %3.3 %
Operating expenses17.5 %18.9 %
Operating income4.1 %5.1 %
Income before income taxes2.5 %3.4 %
Net income4.3 %2.8 %
Income tax rate(74.6)%18.0 %

Amounts are based on underlying data and may not visually foot due to rounding.
5

DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Financial Position
(in millions; unaudited)
May 3, 2024February 2, 2024
ASSETS
Current assets:
Cash and cash equivalents$5,830 $7,366 
Accounts receivable, net of allowance of $66 and $718,563 9,343 
Short-term financing receivables, net of allowance of $86 and $794,660 4,643 
Inventories4,782 3,622 
Other current assets10,792 10,973 
Total current assets34,627 35,947 
Property, plant, and equipment, net6,237 6,432 
Long-term investments1,293 1,316 
Long-term financing receivables, net of allowance of $109 and $915,941 5,877 
Goodwill19,640 19,700 
Intangible assets, net5,538 5,701 
Other non-current assets6,914 7,116 
Total assets$80,190 $82,089 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt$6,098 $6,982 
Accounts payable20,586 19,389 
Accrued and other6,016 6,805 
Short-term deferred revenue15,034 15,318 
Total current liabilities47,734 48,494 
Long-term debt19,382 19,012 
Long-term deferred revenue13,116 13,827 
Other non-current liabilities2,681 3,065 
Total liabilities82,913 84,398 
Stockholders’ equity (deficit):
Total Dell Technologies Inc. stockholders’ equity (deficit)(2,822)(2,404)
Non-controlling interests99 95 
Total stockholders’ equity (deficit)(2,723)(2,309)
Total liabilities and stockholders’ equity$80,190 $82,089 

6

DELL TECHNOLOGIES INC.
Condensed Consolidated Statements of Cash Flows
(in millions; unaudited)

Three Months Ended
May 3, 2024May 5, 2023
Cash flows from operating activities:
Net income$955 $578 
Adjustments to reconcile net income to net cash provided by operating activities:88 1,199 
Change in cash from operating activities1,043 1,777 
Cash flows from investing activities:
Purchases of investments(39)(15)
Maturities and sales of investments119 19 
Capital expenditures and capitalized software development costs(596)(701)
Other60 13 
Change in cash from investing activities(456)(684)
Cash flows from financing activities:
Proceeds from the issuance of common stock— 2 
Repurchases of common stock(700)(240)
Repurchases of common stock for employee tax withholdings(521)(306)
Payments of dividends and dividend equivalents(336)(276)
Proceeds from debt2,992 2,521 
Repayments of debt(3,477)(3,698)
Debt-related costs and other, net(35)(5)
Change in cash from financing activities(2,077)(2,002)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash(55)(58)
Change in cash, cash equivalents, and restricted cash(1,545)(967)
Cash, cash equivalents, and restricted cash at beginning of the period7,507 8,894 
Cash, cash equivalents, and restricted cash at end of the period$5,962 $7,927 
7

DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
May 3, 2024May 5, 2023Change
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking$5,466$3,837 42%
Storage3,761 3,756 —%
Total ISG net revenue$9,227 $7,593 22%
Operating Income:
ISG operating income$736 $740 (1)%
% of ISG net revenue8.0 %9.7 %
% of total reportable segment operating income50 %45 %
Client Solutions Group (CSG):
Net revenue:
Commercial$10,154 $9,862 3%
Consumer1,813 2,121 (15)%
Total CSG net revenue$11,967 $11,983 —%
Operating Income:
CSG operating income$732 $892 (18)%
% of CSG net revenue6.1 %7.4 %
% of total reportable segment operating income50 %55 %

Amounts are based on underlying data and may not visually foot due to rounding.
8

DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued)
Three Months Ended
May 3, 2024May 5, 2023
Reconciliation to consolidated net revenue:
Reportable segment net revenue$21,194 $19,576 
Other businesses (a)1,049 1,343 
Unallocated transactions (b)1 3 
Total consolidated net revenue$22,244 $20,922 
Reconciliation to consolidated operating income:
Reportable segment operating income$1,468 $1,632 
Other businesses (a)6 (36)
Unallocated transactions (b)— 2 
Amortization of intangibles (c)(168)(203)
Stock-based compensation expense (d)(210)(225)
Other corporate expenses (e)(176)(101)
Total consolidated operating income$920 $1,069 
_________________
(a)Other businesses consists of: 1) Dell’s resale of standalone VMware, Inc. products and services, “VMware Resale,” 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.
(b)Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.
(c)Amortization of intangibles includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.
(d)Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.
(e)Other corporate expenses consist primarily of severance expenses, payroll taxes associated with stock-based compensation, facility action costs, transaction-related expenses, impairment charges, and incentive charges related to equity investments.
9

SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES

These tables present information about the Company’s non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. - diluted, free cash flow and adjusted free cash flow, all of which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A detailed discussion of Dell Technologies’ reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures” in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.
10

DELL TECHNOLOGIES INC.
Selected Financial Measures
(in millions, except per share amounts and percentages; unaudited)
Three Months Ended
May 3, 2024May 5, 2023% Change
Net revenue$22,244 $20,922 6%
Non-GAAP gross margin$4,947 $5,164 (4)%
% of net revenue22.2 %24.7 %
Non-GAAP operating expenses$3,473 $3,566 (3)%
% of net revenue15.6 %17.1 %
Non-GAAP operating income$1,474 $1,598 (8)%
% of net revenue6.6 %7.6 %
Non-GAAP net income $923 $963 (4)%
% of net revenue4.1 %4.6 %
Non-GAAP earnings per share - diluted$1.27 $1.31 (3)%

Amounts are based on underlying data and may not visually foot due to rounding.
11

DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
May 3, 2024May 5, 2023% Change
Gross margin$4,806 $5,018 (4)%
Non-GAAP adjustments:
Amortization of intangibles60 79 
Stock-based compensation expense38 38 
Other corporate expenses43 29 
Non-GAAP gross margin$4,947 $5,164 (4)%
Operating expenses$3,886 $3,949 (2)%
Non-GAAP adjustments:
Amortization of intangibles(108)(124)
Stock-based compensation expense(172)(187)
Other corporate expenses(133)(72)
Non-GAAP operating expenses$3,473 $3,566 (3)%
Operating income$920 $1,069 (14)%
Non-GAAP adjustments:
Amortization of intangibles168 203 
Stock-based compensation expense210 225 
Other corporate expenses176 101 
Non-GAAP operating income$1,474 $1,598 (8)%
Net income $955 $578 65 %
Non-GAAP adjustments:
Amortization of intangibles168 203 
Stock-based compensation expense210 225 
Other corporate expenses170 98 
Fair value adjustments on equity investments30 15 
Aggregate adjustment for income taxes (a)(610)(156)
Non-GAAP net income$923 $963 (4)%
____________________
(a)    Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.
12

DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(unaudited; continued)
Three Months Ended
May 3, 2024May 5, 2023% Change
Earnings per share attributable to Dell Technologies, Inc. — diluted$1.32 $0.79 67 %
Non-GAAP adjustments:
Amortization of intangibles0.23 0.28 
Stock-based compensation expense0.29 0.30 
Other corporate expenses0.24 0.13 
Fair value adjustments on equity investments0.04 0.02 
Aggregate adjustment for income taxes (a)(0.84)(0.21)
Total non-GAAP adjustments attributable to non-controlling interests(0.01)— 
Non-GAAP earnings per share attributable to Dell Technologies, Inc. — diluted$1.27 $1.31 (3)%
____________________
(a)    Beginning in Fiscal 2025, our non-GAAP income tax is calculated using a fixed estimated annual tax rate.














13

DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)
Three Months Ended
May 3, 2024May 5, 2023% Change
Cash flow from operations$1,043 $1,777 (41)%
Non-GAAP adjustments:
Capital expenditures and capitalized software development costs, net (a)(586)(698)
Free cash flow$457 $1,079 (58)%
Free cash flow$457 $1,079 (58)%
Non-GAAP adjustments:
Financing receivables (b)165 (367)
Equipment under operating leases (c)1 (25)
Adjusted free cash flow$623 $687 (9)%
____________________
(a)    Capital expenditures and capitalized software development costs is net of proceeds from sales of facilities, land, and     
other assets.
(b)    Financing receivables represent the operating cash flow impact from the change in DFS financing receivables.
(c)    Equipment under operating leases represents the net change of capital expenditures and depreciation expense for DFS leases and contractually embedded leases identified within flexible consumption arrangements.
14
v3.24.1.1.u2
Cover Page
May 30, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date May 30, 2024
Entity Registrant Name Dell Technologies Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-37867
Entity Tax Identification Number 80-0890963
Entity Address, Address Line One One Dell Way
Entity Address, City or Town Round Rock,
Entity Address, State or Province TX
Entity Address, Postal Zip Code 78682
City Area Code 800
Local Phone Number 289-3355
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class C Common Stock, par value $0.01 per share
Trading Symbol DELL
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001571996
Amendment Flag false
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