Dell Technologies Inc. Files 2024 10-K Annual Report

TL;DR

<b>Dell Technologies Inc. has filed its 2024 10-K, detailing financial performance and related party transactions for the fiscal year ending February 2, 2024.</b>

AI Summary

Dell Technologies Inc. (DELL) filed a Annual Report (10-K) with the SEC on March 25, 2024. Dell Technologies Inc. filed its 10-K annual report for the fiscal year ending February 2, 2024. The filing covers the fiscal year 2024, with data from fiscal years 2023 and 2022 also presented for comparison. Related party cost of net revenue for Products was $1,010 million in FY2024, down from $1,634 million in FY2023. Related party cost of net revenue for Services was $2,810 million in FY2024, up from $2,487 million in FY2023. The company's fiscal year end is February 2nd.

Why It Matters

For investors and stakeholders tracking Dell Technologies Inc., this filing contains several important signals. The 10-K filing provides a comprehensive overview of Dell's financial health and operational performance for the fiscal year 2024, crucial for investors assessing the company's trajectory. Specific figures on related party costs for products and services offer insight into Dell's intercompany transactions and supply chain dynamics, which can impact profitability and operational efficiency.

Risk Assessment

Risk Level: medium — Dell Technologies Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or significant negative events in the provided snippet, suggesting a medium risk profile based on the information available.

Analyst Insight

Review the detailed financial statements and risk factors within the full 10-K to understand Dell's performance drivers and potential challenges for the upcoming fiscal year.

Revenue Breakdown

Key Numbers

• 2024-02-02 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-25 — Filing Date (FILED AS OF DATE)
• 1,010 — Related Party Product Costs (FY24) (Products $ 1,010)
• 1,634 — Related Party Product Costs (FY23) (Products $ 1,634)
• 2,810 — Related Party Service Costs (FY24) (Services $ 2,810)
• 2,487 — Related Party Service Costs (FY23) (Services $ 2,487)

Key Players & Entities

• Dell Technologies Inc. (company) — COMPANY CONFORMED NAME
• DELL (company) — tk
• 2024-02-02 (date) — CONFORMED PERIOD OF REPORT
• 2024-03-25 (date) — FILED AS OF DATE
• $1,010 (dollar_amount) — Related party cost of net revenue for Products
• $1,634 (dollar_amount) — Related party cost of net revenue for Products (prior year)
• $2,810 (dollar_amount) — Related party cost of net revenue for Services
• $2,487 (dollar_amount) — Related party cost of net revenue for Services (prior year)

FAQ

Key Dates

• 2024-02-02: Fiscal Year End — End of the reporting period for the 10-K filing.

Key Financial Figures

• $0.01 — red Class C Common Stock, par value of $0.01 per share DELL New York Stock Exchange
• $53.24 — billion (based on the closing price of $53.24 per share of Class C Common Stock repor
• $8.4 billion — on, and as-a-Service models. DFS funded $8.4 billion of originations in Fiscal 2024 and main
• $10.5 billion — nations in Fiscal 2024 and maintains an $10.5 billion global portfolio of high-quality financ
• $2.8 billion — &D presence, with total R&D expenses of $2.8 billion for both Fiscal 2024 and Fiscal 2023, a
• $2.6 billion — r both Fiscal 2024 and Fiscal 2023, and $2.6 billion for Fiscal 2022. These investments refl
• $1.3 billion — stments in non-marketable securities of $1.3 billion. See Note 5 of the Notes to the Consoli

Filing Documents

• dell-20240202.htm (10-K) — 3841KB
• exhibit436fy2410-k.htm (EX-4.36) — 10KB
• exhibit1044fy2410-k.htm (EX-10.44) — 52KB
• exhibit1045fy2410-k.htm (EX-10.45) — 52KB
• exhibit211fy2410-k.htm (EX-21.1) — 159KB
• exhibit221fy2410-k.htm (EX-22.1) — 11KB
• exhibit231fy2410-k.htm (EX-23.1) — 2KB
• exhibit311fy2410-k.htm (EX-31.1) — 12KB
• exhibit312fy2410-k.htm (EX-31.2) — 11KB
• exhibit321fy2410-k.htm (EX-32.1) — 7KB
• exhibit97fy2410-k.htm (EX-97) — 35KB
• dell-20240202_g1.jpg (GRAPHIC) — 93KB
• 0001571996-24-000036.txt (&nbsp;) — 20646KB
• dell-20240202.xsd (EX-101.SCH) — 109KB
• dell-20240202_cal.xml (EX-101.CAL) — 213KB
• dell-20240202_def.xml (EX-101.DEF) — 699KB
• dell-20240202_lab.xml (EX-101.LAB) — 1333KB
• dell-20240202_pre.xml (EX-101.PRE) — 1053KB
• dell-20240202_htm.xml (XML) — 3786KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 33 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 Item 6. [Reserved] 39 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 70 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 72 Item 9. Changes in and Disagreement s With Accountants on Accounting and Financial Disclosure 152 Item 9A.

Controls and Procedures

Controls and Procedures 152 Item 9B. Other Information 154 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 154 PART III Item 10. Directors, Executive Officers and Corporate Governance 154 Item 11.

Executive Compensation

Executive Compensation 155 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 155 Item 13. Certain Relationships and Related Transactions, and Director Independence 155 Item 14. Principal Accountant Fees and Services 155 PART IV Item 15. Exhibit and Financial Statement Schedules 156 Item 1 6. Form 10-K Summary 163

Signatures

Signatures 164 4 Table of Contents PART I Unless the context indicates otherwise, references in this report to "we," "us," "our," the "Company," and "Dell Technologies" mean Dell Technologies Inc. and its consolidated subsidiaries, references to "Dell" mean Dell Inc. and Dell Inc.'s consolidated subsidiaries, and references to "EMC" mean EMC Corporation and EMC Corporation's consolidated subsidiaries. Our fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. We refer to our fiscal years ended February 2, 2024, February 3, 2023, and January 28, 2022 as "Fiscal 2024," "Fiscal 2023," and "Fiscal 2022," respectively. Fiscal 2024 and Fiscal 2022 included 52 weeks, while Fiscal 2023 included 53 weeks.

— BUSINESS

ITEM 1 — BUSINESS Company Overview Dell Technologies helps organizations build their digital futures and individuals transform how they work, live, and play. We provide customers with a broad and innovative solutions portfolio for the data and artificial intelligence ("AI") era, including traditional and modern infrastructure. Our differentiated and holistic information technology ("IT") solutions enable us to capture growth as customer spending priorities evolve. Dell Technologies' integrated solutions help customers modernize their IT infrastructure, manage and operate in a multicloud world, address workforce transformation, and provide critical solutions that keep people and organizations connected. We are helping customers accelerate their digital transformations to improve and strengthen business and workforce productivity. With our extensive portfolio and our commitment to innovation, we offer secure, integrated solutions that extend from the edge to the core to the cloud, and we are at the forefront of AI, software-defined, and cloud native infrastructure solutions. Dell Technologies operates globally in over 170 countries, supported by a world-class organization across key functional areas, including technology and product development, marketing, sales, services, and financing. We have a number of operational advantages that provide a critical foundation for our success. Our go-to-market engine includes an extensive direct sales force, with the ability to build deep customer relationships, and a global network of channel partners. Our global services footprint consists of service and support professionals and vendor-managed service centers that support customers across the world. We also manage a world-class supply chain at a significant scale with the ability to remain agile in a variety of environments. We offer customers choice in how they acquire our solutions including traditional purchasing and financing offerings provided by Dell Financial S

View Full Filing

View this 10-K filing on SEC EDGAR