Annual Repor-Dell

Notes to consolidated financial statements continued

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Unformatted text preview: O CONSOLIDATED FINANCIAL STATEMENTS (Continued) Valuation and Qualifying Accounts Balance at Beginning of Period Charged to Income Statement Balance at End of Period Charged to Allowance Fiscal Year Description Trade Receivables: 2011 Allowance for doubtful accounts 2010 Allowance for doubtful accounts 2009 Allowance for doubtful accounts $ $ $ 115 112 103 $ $ $ 124 185 151 $ $ $ 143 182 142 $ $ $ 96 115 112 Customer Financing Receivables(a): 2011 Allowance for doubtful accounts 2010 Allowance for doubtful accounts 2009 Allowance for doubtful accounts $ $ $ 237 149 96 $ $ $ 258 244 159 $ $ $ 254 156 106 $ $ $ 241 237 149 Trade Receivables: 2011 Allowance for customer returns 2010 Allowance for customer returns 2009 Allowance for customer returns $ $ $ 79 69 91 $ $ $ 581 541 401 $ $ $ 558 531 423 $ $ $ 102 79 69 (a) Charge-offs to the allowance for financing receivable losses for customer financing receivables includes principal and interest. NOTE 18 — UNAUDITED QUARTERLY RESULTS The following tables present selected unaudited Consolidated Statements of Income for each quarter of Fiscal 2011 and Fiscal 2010: First Quarter Net revenue Gross margin Net income Earnings per share: Basic Diluted Weighted-average shares outstanding: Basic Diluted $ $ $ 14,874 2,516 341 $ $ 0.17 0.17 $ $ $ 15,692 3,291 927 $ $ $ $ 0.48 0.48 1,961 1,973 First Quarter Net revenue Gross margin Net income Earnings per share: Basic Diluted Weighted-average shares outstanding: Basic Diluted Fiscal Year 2011 Second Third Quarter Quarter (in millions, except per share data) $ 15,534 $ 15,394 $ 2,586 $ 3,003 $ 545 $ 822 $ $ $ 12,342 2,168 290 $ $ 0.15 0.15 1,949 1,952 0.28 0.28 $ $ 1,952 1,960 0.42 0.42 Fourth Quarter 1,939 1,949 1,924 1,938 Fiscal Year 2010 Second Third Quarter Quarter (in millions, except per share data) $ 12,764 $ 12,896 $ 2,391 $ 2,233 $ 472 $ 337 $ $ $ 14,900 2,469 334 $ $ $ $ 0.17 0.17 0.24 0.24 1,955 1,960 $ $ 0.17 0.17 1,956 1,966 Fourth Quarter 1,957 1,971 NOTE 19 — SUBSEQUENT EVENTS In February, 2011, Dell completed its acquisitions of Compellent Technologies, Inc. ("Compellent"), a provider of virtual storage solutions for enterprise and cloud computing environments, and SecureWorks Inc. ("SecureWorks"), a global provider of information security service, for approximately $938 million and $612 million, respectively. Both Compellent and SecureWorks will be integrated into Dell's Commercial segments. Because the acquisitions have recently closed, Dell has not completed the purchase accounting and initial purchase price allocation for these acquisitions. Dell expects to complete the purchase accounting and initial purchase price allocations in the first quarter of Fiscal 2012. spi2532X_appB_B1-B24.indd B-24 spi2532X_appB_B1-B24.indd B-24 1/20/12 4:20 PM 1/20/12 4:20 PM...
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