Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Dell Technologies Inc., consolidated income statement

US$ in millions

12 months ended:	Jan 31, 2025	Feb 2, 2024	Feb 3, 2023	Jan 28, 2022	Jan 29, 2021	Jan 31, 2020
Products	71,420)	64,353)	79,250)	79,830)	69,911)	69,918)
Services	24,147)	24,072)	23,051)	21,367)	24,313)	22,236)
Net revenue	95,567)	88,425)	102,301)	101,197)	94,224)	92,154)
Products	(60,162)	(53,316)	(66,029)	(67,224)	(55,347)	(54,525)
Services	(14,155)	(14,240)	(13,586)	(12,082)	(9,460)	(8,696)
Cost of net revenue	(74,317)	(67,556)	(79,615)	(79,306)	(64,807)	(63,221)
Gross margin	21,250)	20,869)	22,686)	21,891)	29,417)	28,933)
Selling, general, and administrative	(11,952)	(12,857)	(14,136)	(14,655)	(18,998)	(21,319)
Research and development	(3,061)	(2,801)	(2,779)	(2,577)	(5,275)	(4,992)
Operating expenses	(15,013)	(15,658)	(16,915)	(17,232)	(24,273)	(26,311)
Operating income	6,237)	5,211)	5,771)	4,659)	5,144)	2,622)
Investment income, primarily interest	160)	305)	100)	42)	54)	160)
Gain (loss) on investments, net	177)	47)	(206)	569)	582)	194)
Interest expense	(1,394)	(1,501)	(1,222)	(1,542)	(2,389)	(2,675)
Foreign exchange	(112)	(199)	(265)	(221)	(127)	(162)
Gain on disposition of businesses and assets	—)	—)	—)	3,968)	—)	—)
Legal settlement, net	—)	—)	(894)	—)	—)	—)
Other	(20)	24)	(59)	(1,552)	406)	(143)
Interest and other, net	(1,189)	(1,324)	(2,546)	1,264)	(1,474)	(2,626)
Income (loss) before income taxes	5,048)	3,887)	3,225)	5,923)	3,670)	(4)
Income tax (expense) benefit	(472)	(692)	(803)	(981)	(165)	5,533)
Net income from continuing operations	4,576)	3,195)	2,422)	4,942)	3,505)	5,529)
Income from discontinued operations, net of income taxes	—)	—)	—)	765)	—)	—)
Net income	4,576)	3,195)	2,422)	5,707)	3,505)	5,529)
Net (income) loss attributable to non-controlling interests	16)	16)	20)	(144)	(255)	(913)
Net income attributable to Dell Technologies Inc.	4,592)	3,211)	2,442)	5,563)	3,250)	4,616)

Based on: 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-02-02), 10-K (reporting date: 2023-02-03), 10-K (reporting date: 2022-01-28), 10-K (reporting date: 2021-01-29), 10-K (reporting date: 2020-01-31).

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Income statement item	Description	The company
Net revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Dell Technologies Inc. net revenue decreased from 2023 to 2024 but then increased from 2024 to 2025 not reaching 2023 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Dell Technologies Inc. operating income decreased from 2023 to 2024 but then increased from 2024 to 2025 exceeding 2023 level.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Dell Technologies Inc. income (loss) before income taxes increased from 2023 to 2024 and from 2024 to 2025.
Net income attributable to Dell Technologies Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Dell Technologies Inc. net income attributable to Dell Technologies Inc. increased from 2023 to 2024 and from 2024 to 2025.

Dell Technologies Inc. (NYSE:DELL)

Income Statement