0001571996-19-000051 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Nov. 01, 2019	Dec. 03, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 01, 2019
Document Transition Report	false
Entity File Number	001-37867
Entity Registrant Name	Dell Technologies Inc.
Entity Incorporation, State or Country Code	DE
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
Title of 12(b) Security	Class C Common Stock, par value $0.01 per share
Trading Symbol	DELL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001571996
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding - Class C
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		236,743,696
Entity Common Stock, Shares Outstanding - Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		373,656,005
Entity Common Stock, Shares Outstanding - Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		119,336,038

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Current assets:
Cash and cash equivalents	$ 8,555	$ 9,676
Accounts receivable, net	11,447	12,371
Short-term financing receivables, net	4,589	4,398
Inventories, net	3,257	3,649
Other current assets	6,924	6,044
Total current assets	34,772	36,138
Property, plant, and equipment, net	5,787	5,259
Long-term investments	838	1,005
Long-term financing receivables, net	4,465	4,224
Goodwill	41,688	40,089
Intangible assets, net	19,174	22,270
Other non-current assets	10,090	2,835
Total assets	116,814	111,820
Current liabilities:
Short-term debt	7,664	4,320
Accounts payable	19,443	19,213
Accrued and other	8,161	8,495
Short-term deferred revenue	13,787	12,944
Total current liabilities	49,055	44,972
Long-term debt	44,727	49,201
Long-term deferred revenue	12,116	11,066
Other non-current liabilities	6,105	6,327
Total liabilities	112,003	111,566
Commitments and contingencies (Note 10)
Redeemable shares (Note 17)	934	1,196
Stockholders’ equity (deficit):
Common stock and capital in excess of $0.01 par value (Note 14)	16,192	16,114
Treasury stock at cost	(65)	(63)
Accumulated deficit	(17,299)	(21,349)
Accumulated other comprehensive loss	(632)	(467)
Total Dell Technologies Inc. stockholders’ deficit	(1,804)	(5,765)
Non-controlling interests	5,681	4,823
Total stockholders’ equity (deficit)	3,877	(942)
Total liabilities, redeemable shares, and stockholders’ equity (deficit)	$ 116,814	$ 111,820

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Nov. 01, 2019	Feb. 01, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Net revenue:
Total net revenue	$ 22,844	$ 22,482	$ 68,122	$ 66,780
Cost of net revenue:
Total cost of net revenue	15,718	16,539	46,873	48,836
Gross margin	7,126	5,943	21,249	17,944
Operating expenses:
Selling, general, and administrative	5,028	5,159	15,677	15,064
Research and development	1,262	1,140	3,667	3,402
Total operating expenses	6,290	6,299	19,344	18,466
Operating income (loss)	836	(356)	1,905	(522)
Interest and other, net	(677)	(639)	(2,000)	(1,564)
Income (loss) before income taxes	159	(995)	(95)	(2,086)
Income tax benefit	(393)	(100)	(5,208)	(192)
Net income (loss)	552	(895)	5,113	(1,894)
Less: Net income (loss) attributable to non-controlling interests	53	(19)	905	117
Net income (loss) attributable to Dell Technologies Inc.	$ 499	(876)	$ 4,208	(2,011)
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)	$ 0.69		$ 5.84
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)	$ 0.66		$ 5.50
Class V Common Stock
Operating expenses:
Net income (loss) attributable to Dell Technologies Inc.		$ 165		$ 955
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)		$ 0.83		$ 4.80
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)		$ 0.81		$ 4.72
DHI Group
Operating expenses:
Net income (loss) attributable to Dell Technologies Inc.		$ (1,041)		$ (2,966)
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)		$ (1.84)		$ (5.23)
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)		$ (1.84)		$ (5.25)
Products
Net revenue:
Total net revenue	$ 17,485	$ 17,625	$ 52,349	$ 52,445
Cost of net revenue:
Total cost of net revenue	13,558	14,565	40,526	43,114
Services
Net revenue:
Total net revenue	5,359	4,857	15,773	14,335
Cost of net revenue:
Total cost of net revenue	$ 2,160	$ 1,974	$ 6,347	$ 5,722

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 552	$ (895)	$ 5,113	$ (1,894)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	50	(118)	(186)	(721)
Available-for-sale investments:
Change in unrealized gains (losses)	0	(1)	0	(2)
Reclassification adjustment for net gains realized in net income (loss)	0	0	0	(1)
Net change in market value of investments	0	(1)	0	(3)
Cash flow hedges:
Change in unrealized gains (losses)	(47)	73	210	314
Reclassification adjustment for net (gains) losses included in net income (loss)	(71)	(76)	(197)	(122)
Net change in cash flow hedges	(118)	(3)	13	192
Pension and other postretirement plans:
Recognition of actuarial net gain from pension and other postretirement plans	0	0	8	0
Reclassification adjustments for net (gains) losses from pension and other postretirement plans	0	0	0	0
Net change in actuarial net gain from pension and other postretirement plans	0	0	8	0
Total other comprehensive loss, net of tax expense (benefit) of $(6) and $0, respectively, and $1 and $7, respectively	(68)	(122)	(165)	(532)
Comprehensive income (loss), net of tax	484	(1,017)	4,948	(2,426)
Less: Net income (loss) attributable to non-controlling interests	53	(19)	905	117
Less: Other comprehensive income (loss) attributable to non-controlling interests	(1)	0	0	(4)
Comprehensive income (loss) attributable to Dell Technologies Inc.	$ 432	$ (998)	$ 4,043	$ (2,539)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Statement of Comprehensive Income [Abstract]
Tax expense (benefit)	$ (6)	$ 0	$ 1	$ 7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018
Cash flows from operating activities:
Net income (loss)	$ 5,113	$ (1,894)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	4,608	5,806
Stock-based compensation expense	886	671
Deferred income taxes	(5,927)	(864)
Provision for doubtful accounts — including financing receivables	128	117
Impairments	619	190
Other	119	297
Changes in assets and liabilities, net of effects from acquisitions and dispositions:
Accounts receivable	800	77
Financing receivables	(592)	(735)
Inventories	364	(1,413)
Other assets	(1,272)	(752)
Accounts payable	299	1,546
Deferred revenue	1,811	1,597
Accrued and other liabilities	(1,173)	(18)
Change in cash from operating activities	5,783	4,625
Investments:
Purchases	(142)	(912)
Maturities and sales	449	2,185
Capital expenditures	(1,612)	(861)
Capitalized software development costs	(264)	(246)
Acquisition of businesses, net	(2,429)	(493)
Divestitures of businesses, net	0	142
Asset acquisitions, net	(8)	(59)
Asset dispositions, net	(3)	(12)
Other	27	35
Change in cash from investing activities	(3,982)	(221)
Cash flows from financing activities:
Share repurchases for tax withholdings of equity awards	(407)	(251)
Proceeds from the issuance of common stock of subsidiaries	294	767
Repurchases of common stock of subsidiaries	(1,285)	(1)
Proceeds from debt	17,656	6,443
Repayments of debt	(18,948)	(9,669)
Other	90	(133)
Change in cash from financing activities	(2,600)	(2,844)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(100)	(262)
Change in cash, cash equivalents, and restricted cash	(899)	1,298
Cash, cash equivalents, and restricted cash at beginning of the period	10,240	14,378
Cash, cash equivalents, and restricted cash at end of the period	$ 9,341	$ 15,676

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Common Stock and Capital in Excess of Par Value DHI Group	Common Stock and Capital in Excess of Par Value Class V Common Stock	Treasury Stock DHI Group	Treasury Stock Class V Common Stock	Accumulated Deficit	Accumulated Other Comprehensive Income/(Loss)	Dell Technologies Stockholders' Equity	Non-Controlling Interests
Balance, beginning of period (in shares) at Feb. 02, 2018		571	223	1	24
Balance, beginning of period at Feb. 02, 2018	$ 17,485	$ 9,848	$ 10,041	$ (16)	$ (1,424)	$ (6,860)	$ 130	$ 11,719	$ 5,766
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,894)					(2,011)		(2,011)	117
Foreign currency translation adjustments	(721)						(721)	(721)
Investments, net change	(3)						(1)	(1)	(2)
Cash flow hedges, net change	192						194	194	(2)
Pension and other post-retirement	0
Issuance of common stock	(22)	(22)						(22)
Stock-based compensation expense	671	76						76	595
Treasury stock repurchases (in shares)				1
Treasury stock repurchases	(47)			$ (47)				(47)
Revaluation of redeemable shares	(1,711)	(1,711)						(1,711)
Impact from equity transactions of non-controlling interests	480	$ 116						116	364
Balance, end of period (in shares) at Nov. 02, 2018		571	223	2	24
Balance, end of period at Nov. 02, 2018	14,425	$ 8,307	$ 10,041	$ (63)	$ (1,424)	(8,813)	(456)	7,592	6,833
Balance, beginning of period (in shares) at Aug. 03, 2018		571	223	2	24
Balance, beginning of period at Aug. 03, 2018	15,211	$ 8,280	$ 10,041	$ (63)	$ (1,424)	(7,937)	(334)	8,563	6,648
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(895)					(876)		(876)	(19)
Foreign currency translation adjustments	(118)						(118)	(118)
Investments, net change	(1)						(1)	(1)
Cash flow hedges, net change	(3)						(3)	(3)
Pension and other post-retirement	0
Issuance of common stock	(18)	(18)						(18)
Stock-based compensation expense	256	39						39	217
Revaluation of redeemable shares	(39)	(39)						(39)
Impact from equity transactions of non-controlling interests	32	$ 45						45	(13)
Balance, end of period (in shares) at Nov. 02, 2018		571	223	2	24
Balance, end of period at Nov. 02, 2018	14,425	$ 8,307	$ 10,041	$ (63)	$ (1,424)	(8,813)	(456)	7,592	6,833
Balance, beginning of period (in shares) at Feb. 01, 2019		721		2
Balance, beginning of period at Feb. 01, 2019	(942)	$ 16,114		$ (63)		(21,349)	(467)	(5,765)	4,823
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,113					4,208		4,208	905
Foreign currency translation adjustments	(186)						(186)	(186)
Investments, net change	0
Cash flow hedges, net change	13						13	13
Pension and other post-retirement	8						8	8
Issuance of common stock (in shares)		10
Issuance of common stock	152	$ 152						152
Stock-based compensation expense	886	165						165	721
Treasury stock repurchases	(2)			$ (2)				(2)
Revaluation of redeemable shares	262	262						262
Impact from equity transactions of non-controlling interests	(1,430)	$ (501)				(161)		(662)	(768)
Balance, end of period (in shares) at Nov. 01, 2019		731		2
Balance, end of period at Nov. 01, 2019	3,877	$ 16,192		$ (65)		(17,299)	(632)	(1,804)	5,681
Balance, beginning of period (in shares) at Aug. 02, 2019		726		2
Balance, beginning of period at Aug. 02, 2019	3,095	$ 15,956		$ (65)		(17,775)	(565)	(2,449)	5,544
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	552					499		499	53
Foreign currency translation adjustments	50						50	50
Investments, net change	0
Cash flow hedges, net change	(118)						(117)	(117)	(1)
Pension and other post-retirement	0
Issuance of common stock (in shares)		5
Issuance of common stock	67	$ 67						67
Stock-based compensation expense	322	61						61	261
Revaluation of redeemable shares	90	90						90
Impact from equity transactions of non-controlling interests	(181)	$ 18				(23)		(5)	(176)
Balance, end of period (in shares) at Nov. 01, 2019		731		2
Balance, end of period at Nov. 01, 2019	$ 3,877	$ 16,192		$ (65)		$ (17,299)	$ (632)	$ (1,804)	$ 5,681

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Nov. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 — BASIS OF PRESENTATION References in these Notes to the Condensed Consolidated Financial Statements to the “Company” or “Dell Technologies” mean Dell Technologies Inc. individually and together with its consolidated subsidiaries. Basis of Presentation — The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes filed with the U.S. Securities and Exchange Commission (“SEC”) in the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2019. These Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the accompanying Condensed Consolidated Financial Statements reflect all adjustments of a normal recurring nature considered necessary to fairly state the financial position of Dell Technologies Inc. as of November 1, 2019 and February 1, 2019, the results of its operations and corresponding comprehensive income (loss) for the three and nine months ended November 1, 2019 and November 2, 2018, and its cash flows for the nine months ended November 1, 2019 and November 2, 2018. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying Notes. Actual results could differ materially from those estimates. The results of operations and comprehensive income (loss) for the three and nine months ended November 1, 2019 and November 2, 2018 and the cash flows for the nine months ended November 1, 2019 and November 2, 2018 are not necessarily indicative of the results to be expected for the full fiscal year or for any other fiscal period. The Company’s fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. The fiscal year ended February 1, 2019 (“Fiscal 2019”) was a 52-week period, and the fiscal year ending January 31, 2020 (“Fiscal 2020”) will be a 52-week period. Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies and its wholly-owned subsidiaries, as well as the accounts of VMware, Inc., Pivotal Software, Inc. (“Pivotal”), and SecureWorks Corp. (“Secureworks”), each of which is majority-owned by Dell Technologies. All intercompany transactions have been eliminated. Unless the context indicates otherwise, references in these Notes to the Condensed Consolidated Financial Statements to “VMware” mean the VMware reportable segment, which reflects the operations of VMware, Inc. (NYSE: VMW) within Dell Technologies. EMC Merger Transaction — On September 7, 2016, the Company completed its acquisition of EMC Corporation (“EMC”) by merger (the “EMC merger transaction”). The consolidated results of EMC are included in Dell Technologies’ consolidated results presented in these financial statements. Pivotal Initial Public Offering — On April 24, 2018, Pivotal, which is majority-owned by Dell Technologies, completed a registered underwritten initial public offering (“IPO”) of its Class A common stock (NYSE: PVTL). The results of Pivotal’s operations are included in Other businesses. For more information regarding the Company’s ownership of Pivotal, see Note 13 and Note 20 of the Notes to the Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Measurement of Credit Losses on Financial Instruments — In June 2016, the Financial Accounting Standards Board (“FASB”) issued amended guidance which replaces the current incurred loss impairment methodology for measurement of credit losses on financial instruments with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal periods beginning after December 15, 2018. The Company is currently evaluating the impact that the standard will have on the Consolidated Financial Statements. Intangibles - Goodwill and Other - Internal-Use Software — In August 2018, the FASB issued guidance on a customer’s accounting for implementation costs incurred in a cloud-computing arrangement when hosted by a vendor. In a hosting arrangement that is a service contract, certain implementation costs should be capitalized and amortized over the term of the arrangement. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal periods beginning after December 15, 2018. The Company does not expect the adoption of this guidance to have a material impact on the Consolidated Financial Statements. Recently Adopted Accounting Pronouncements Leases — In February 2016, the FASB issued amended guidance on the accounting for leasing transactions. The primary objective of this update is to increase transparency and comparability among organizations by requiring lessees to recognize a lease liability for the obligation to make lease payments and a right-of-use (“ROU”) asset for the right to use the underlying asset for the lease term. The guidance also results in some changes to lessor accounting and requires additional disclosures about all leasing arrangements. The Company adopted the standard (the “new lease standard”) as of February 2, 2019 using the modified retrospective approach, with the cumulative-effect adjustment to the opening balance of stockholders’ equity (deficit) as of the adoption date. The Company elected to apply the practical expedient using the transition option whereby prior comparative periods were not retrospectively adjusted in the Consolidated Financial Statements. Accordingly, prior comparative periods have not been adjusted in the Condensed Consolidated Financial Statements. The Company also elected the package of practical expedients which does not require reassessment of initial direct costs, classification of a lease, and definition of a lease. The adoption of the new lease standard resulted in the recognition of $1.6 billion in operating lease liabilities and related ROU assets on the Consolidated Statements of Financial Position. The Company recorded an immaterial adjustment to stockholders’ equity (deficit) as of February 2, 2019 to reflect the cumulative effect of adoption of the new lease standard. As of February 2, 2019, there were no material finance leases for which the Company was a lessee. In the area of lessor accounting, as of February 2, 2019, the Company began to originate operating leases due to the elimination of third-party residual value guarantee insurance from the sales-type lease classification test. Leases that commenced prior to the adoption of the new lease standard were not reassessed or restated pursuant to the practical expedients elected. Accordingly, there was no cumulative adjustment to stockholders’ equity (deficit) related to lessor accounting. See Note 4 and Note 5 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s leases from a lessor and lessee perspective, respectively.

INTERIM UPDATE TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Nov. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INTERIM UPDATE TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — INTERIM UPDATE TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As discussed in Note 1 of the Notes to the Condensed Consolidated Financial Statements, the Company adopted the new lease standard as of February 2, 2019, using the modified retrospective method. A lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company enters into contracts that are, or contain, leases as both a lessee and a lessor. The following accounting policies have been updated as part of the adoption of the new lease standard. Accounting for Operating Leases as a Lessee — In its ordinary course of business, the Company enters into leases as a lessee for office buildings, warehouses, employee vehicles, and equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases result in the recognition of ROU assets and lease liabilities on the Consolidated Statements of Financial Position. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. At lease inception, the lease liability is measured at the present value of the lease payments over the lease term. The operating lease ROU asset equals the lease liability adjusted for any initial direct costs, prepaid or deferred rent, and lease incentives. The Company uses the implicit rate when readily determinable. As most of the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of lease payments. Incremental borrowing rates used to determine the present value of lease payments were derived by reference to the Company’s secured-debt yields corresponding to the lease commencement date. The lease term may include options to extend or to terminate the lease that the Company is reasonably certain to exercise. Lease expense is recognized on a straight-line basis over the lease term in most instances. The Company has elected not to record leases with an initial term of 12 months or less on the Consolidated Statements of Financial Position. Lease expense on such leases is recognized on a straight-line basis over the lease term. The Company does not generate material sublease income and has no material related party leases. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s office building agreements contain costs such as common area maintenance and other executory costs that are variable in nature. Variable lease costs are expensed as incurred. The Company combines lease and non-lease components, such as common area and other maintenance costs, in calculating the ROU assets and lease liabilities for its office buildings and employee vehicles. Under certain service agreements with third-party logistics providers, the Company directs the use of the inventory within the warehouses and, therefore, controls the assets. The warehouses and some of the equipment used are considered embedded leases. The Company accounts for the lease and non-lease components separately. The lease components consist of the warehouses and some of the equipment, such as conveyor belts. The non-lease components consist of services and other shared equipment, such as material handling and transportation. The Company allocates the consideration to the lease and non-lease components using their relative standalone values. See Note 5 of the Notes to the Condensed Consolidated Financial Statements for additional information. Accounting for Leases as a Lessor — The Company’s wholly-owned subsidiary Dell Financial Services and its affiliates (“DFS”) acts as a lessor to provide equipment financing to customers through a variety of lease arrangements (“DFS leases”). Subsequent to the adoption of the new lease standard, new DFS leases are classified as sales-type leases, direct financing leases, or operating leases. Direct financing leases under the new lease standard are immaterial. Leases that commenced prior to the adoption of the new lease standard were not reassessed or restated pursuant to the practical expedients elected and will continue to be accounted for under previous lease accounting guidance. When a contract includes lease and non-lease components, DFS allocates consideration under the contract to each component based on relative standalone selling price. Whenever the terms of the lease transfer control to the lessee, the contract is typically classified as a sales-type lease. Through these arrangements, the lessee has the right to substantially all of the economic benefits from use of the identified asset and has the right to direct the use of such asset during the period of use. In many arrangements, the lessee also retains ownership at the end of the lease term. On commencement of sales-type leases, the Company recognizes profit up-front, and amounts due from the customer under the lease contract are recognized as financing receivables on the Consolidated Statements of Financial Position. Interest income is recognized as Net revenue over the term of the lease based on the effective interest method. For sales and other taxes collected from the lessee, the Company has elected not to include such taxes as part of lease revenue. All other leases which do not meet the definition of a sales-type lease or direct financing lease are classified as operating leases. The underlying asset in an operating lease arrangement is carried at depreciated cost as “Equipment under operating leases” within Property, plant, and equipment, net on the Consolidated Statements of Financial Position. Depreciation is calculated using the straight-line method over the term of the underlying lease contract and is recognized as Cost of net revenue. The depreciable basis is the original cost of the equipment less the estimated residual value of the equipment at the end of the lease term. The Company recognizes operating lease revenue on a straight-line basis over the lease term and expenses deferred initial direct costs on the same basis. Impairment of equipment under operating leases is assessed on the same basis as other long-lived assets. DFS provides lessees with the option to extend the lease or purchase the underlying asset at the end of the lease term, which is considered when evaluating lease classification. In general, DFS’s lease arrangements do not have variable payment terms and are non-cancelable. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information regarding DFS leasing arrangements. Financing Receivables — Financing receivables are presented net of allowance for losses and consist of customer receivables and residual interest. Customer receivables, gross includes amounts due from customers under revolving loans, fixed-term loans, fixed-term sales-type or direct financing leases, and accrued interest. The Company has two portfolios, consisting of: (1) fixed-term leases and loans and (2) revolving loans, and assesses risk at the portfolio level to determine the appropriate allowance levels. The portfolio segments are further segregated into classes based on products, customer type, and credit risk evaluation: (1) Revolving - Dell Preferred Account (“DPA”); (2) Revolving - Dell Business Credit (“DBC”); and (3) Fixed-term - Consumer and Commercial. Fixed-term leases and loans are offered to qualified small and medium-sized businesses, large commercial accounts, governmental organizations, and educational entities. Additionally, fixed-term loans are also offered to certain individual consumer customers. Revolving loans are offered under private label credit financing programs. The DPA revolving loan programs are primarily offered to individual consumer customers and the DBC revolving loan programs are primarily offered to small and medium-sized commercial customers. The Company retains a residual interest in equipment leased under its fixed-term lease programs. The amount of the residual interest is established at the inception of the lease based upon estimates of the value of the equipment at the end of the lease term using historical studies, industry data, and future value-at-risk demand valuation methods. On a quarterly basis, the Company assesses the carrying amount of its recorded residual values for impairment. Anticipated declines in specific future residual values that are considered to be other-than-temporary are recorded currently in earnings. Generally, residual value risk on equipment under lease is not considered to be significant because of the existence of a secondary market with respect to the equipment. The lease agreement also clearly defines applicable return conditions and remedies for non-compliance, to ensure that the leased equipment will be in good operating condition upon return. Model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. The remarketing sales staff works closely with customers and dealers to manage the sale of lease returns and the recovery of residual exposure. As of November 1, 2019, the Company has not recorded significant residual value impairment. Asset Securitization — The Company transfers certain U.S. and European customer loan and lease payments and associated equipment to Special Purpose Entities (“SPEs”) that meet the definition of a Variable Interest Entity (“VIE”) and are consolidated into the Consolidated Financial Statements. These SPEs are bankruptcy-remote legal entities with separate assets and liabilities. The purpose of the SPEs is to facilitate the funding of customer loan and lease payments and associated equipment in the capital markets. These SPEs have entered into financing arrangements with multi-seller conduits that, in turn, issue asset-backed debt securities in the capital markets. The asset securitizations in the SPEs are accounted for as secured borrowings. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for additional information on the impact of the consolidation.

FAIR VALUE MEASUREMENTS AND INVESTMENTS

9 Months Ended

Nov. 01, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS AND INVESTMENTS

NOTE 3 — FAIR VALUE MEASUREMENTS AND INVESTMENTS

The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the dates indicated:



	November 1, 2019								February 1, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds	$	4,488	$	—	$	—	$	4,488	$	5,221	$	—	$	—	$	5,221
Equity and other securities	11		—		—		11		314		20		—		334
Derivative instruments	—		119		—		119		—		97		—		97
Total assets	$	4,499	$	119	$	—	$	4,618	$	5,535	$	117	$	—	$	5,652
Liabilities:
Derivative instruments	$	—	$	67	$	—	$	67	$	—	$	60	$	—	$	60
Total liabilities	$	—	$	67	$	—	$	67	$	—	$	60	$	—	$	60

The following section describes the valuation methodologies the Company uses to measure financial instruments at fair value:

Money Market Funds — The Company’s investment in money market funds that are classified as cash equivalents hold underlying investments with a weighted average maturity of 90 days or less and are recognized at fair value. The valuations of these securities are based on quoted prices in active markets for identical assets, when available, or pricing models whereby all significant inputs are observable or can be derived from or corroborated by observable market data. The Company reviews security pricing and assesses liquidity on a quarterly basis. As of November 1, 2019, the Company’s U.S. portfolio had no material exposure to money market funds with a fluctuating net asset value.

Equity and Other Securities — The Company’s investments in equity and other securities that are measured at fair value on a recurring basis consist primarily of strategic investments in publicly-traded companies. The valuation of these securities is based on quoted prices in active markets.

Derivative Instruments — The Company’s derivative financial instruments consist primarily of foreign currency forward and purchased option contracts and interest rate swaps. The fair value of the portfolio is determined using valuation models based on market observable inputs, including interest rate curves, forward and spot prices for currencies, and implied volatilities. Credit risk is also factored into the fair value calculation of the Company’s derivative instrument portfolio. See Note 7 of the Notes to the Condensed Consolidated Financial Statements for a description of the Company’s derivative financial instrument activities.

Deferred Compensation Plans —The Company offers deferred compensation plans for eligible employees, which allow participants to defer payment for a portion of their compensation. Assets were the same as liabilities associated with the plans at approximately $239 million and $192 million as of November 1, 2019 and February 1, 2019, respectively, and are included in other assets and other liabilities on the Condensed Consolidated Statements of Financial Position. The net impact to the Condensed Consolidated Statements of Income (Loss) is not material since changes in the fair value of the assets substantially offset changes in the fair value of the liabilities. As such, assets and liabilities associated with these plans have not been included in the recurring fair value table above. These fair values were determined based on observable market prices in a less active market or based on valuation methodologies using observable inputs and were categorized as Level 2 in the fair value hierarchy.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis — Certain assets are measured at fair value on a nonrecurring basis and therefore are not included in the recurring fair value table above. These assets consist primarily of non-financial assets such as goodwill and intangible assets. See Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information about goodwill and intangible assets.

As of November 1, 2019 and February 1, 2019, the Company held private strategic investments of $827 million and $671 million, respectively. As these investments represent early-stage companies without readily determinable fair values, they are not included in the recurring fair value table above.

The Company has elected to apply the measurement alternative for these investments. Under the alternative, the Company measures investments without readily determinable fair values at cost, less impairment, adjusted by observable price changes. The Company must make a separate election to use the alternative for each eligible investment and is required to reassess at each reporting period whether an investment qualifies for the alternative. In evaluating these investments for impairment or observable price changes, the Company uses inputs including pre- and post-money valuations of recent financing events and the impact of those on its fully diluted ownership percentages, as well as other available information regarding the issuer’s historical and forecasted performance.

Carrying Value and Estimated Fair Value of Outstanding Debt — The following table presents the carrying value and estimated fair value of the Company’s outstanding debt as described in Note 6 of the Notes to the Condensed Consolidated Financial Statements, including the current portion, as of the dates indicated:



	November 1, 2019				February 1, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in billions)
Senior Secured Credit Facilities	$	8.9	$	9.0	$	12.5	$	12.6
First Lien Notes	$	20.5	$	23.3	$	19.8	$	21.0
Unsecured Notes and Debentures	$	1.2	$	1.4	$	1.8	$	1.9
Senior Notes	$	2.6	$	2.8	$	3.1	$	3.4
EMC Notes	$	3.0	$	3.0	$	3.0	$	2.9
VMware Notes and VMware Term Loan Facility	$	4.6	$	4.7	$	4.0	$	3.9
Margin Loan Facility	$	4.0	$	4.0	$	3.3	$	3.4

The fair values of the outstanding debt shown in the table above, as well as the DFS debt described in Note 4 of the Notes to the Condensed Consolidated Financial Statements, were determined based on observable market prices in a less active market or based on valuation methodologies using observable inputs and were categorized as Level 2 in the fair value hierarchy. The carrying value of DFS debt approximates fair value.

Investments

The following table presents the carrying value of the Company’s strategic investments in publicly-traded and privately-held companies as of the dates indicated:



	November 1, 2019									February 1, 2019
	Cost		Unrealized Gain		Unrealized (Loss)			Carrying Value		Cost		Unrealized Gain		Unrealized (Loss)			Carrying Value
	(in millions)
Equity and other securities	$	776	$	94	$	(32	)	$	838	$	638	$	539	$	(172	)	$	1,005

For the nine months ended November 1, 2019, the equity and other securities without readily determinable fair values of $827 million increased by $88 million, due to upward adjustments for observable price changes, offset by $12 million of downward adjustments that were primarily attributable to impairments. The remainder of equity and other securities consists of publicly-traded investments that are measured at fair value on a recurring basis.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

FINANCIAL SERVICES

9 Months Ended

Nov. 01, 2019

Receivables [Abstract]

FINANCIAL SERVICES

NOTE 4 — FINANCIAL SERVICES

The Company offers or arranges various financing options, services, and alternative payment structures for its customers in North America, Europe, Australia, and New Zealand through DFS. The Company also arranges financing for some of its customers in various countries where DFS does not currently operate as a captive enterprise. The key activities of DFS include originating, collecting, and servicing customer financing arrangements primarily related to the purchase or use of Dell Technologies products and services. In some cases, DFS also offers financing on the purchase of third-party technology products that complement the Dell Technologies portfolio of products and services. New financing originations were $2.0 billion and $1.6 billion for the three months ended November 1, 2019 and November 2, 2018, respectively, and were $5.7 billion and $5.2 billion for the nine months ended November 1, 2019 and November 2, 2018, respectively.

The Company’s loan and lease arrangements with customers are aggregated into the following categories:

Revolving loans — Revolving loans offered under private label credit financing programs provide qualified customers with a revolving credit line for the purchase of products and services offered by Dell Technologies. These private label credit financing programs are referred to as Dell Preferred Account (“DPA”) and Dell Business Credit (“DBC”). The DPA product is primarily offered to individual consumer customers, and the DBC product is primarily offered to small and medium-sized commercial customers. Revolving loans in the United States bear interest at a variable annual percentage rate that is tied to the prime rate. Based on historical payment patterns, revolving loan transactions are typically repaid within twelve months on average. Due to the short-term nature of the revolving loan portfolio, the carrying value of the portfolio approximates fair value.

Fixed-term leases and loans — The Company enters into financing arrangements with customers who seek lease financing for equipment they might otherwise purchase. Under the new lease standard discussed in Note 1 and Note 2 of the Notes to the Condensed Consolidated Financial Statements, new DFS leases are classified as sales-type leases, direct financing leases, or operating leases. When the terms of the DFS lease transfer control of the underlying asset to the lessee, the contract is typically classified as a sales-type lease. Direct financing leases under the new lease standard are immaterial. All other new DFS leases are classified as operating leases. Leases that commenced prior to the adoption of the new lease standard were not reassessed or restated pursuant to the practical expedients elected and will continue to be accounted for under previous lease accounting guidance. Leases with business customers have fixed terms of generally two to four years.

The Company also offers fixed-term loans to qualified small businesses, large commercial accounts, governmental organizations, educational entities, and certain individual consumer customers. These loans are repaid in equal payments including interest and have defined terms of generally three to five years. The fair value of the fixed-term loan portfolio is determined using market observable inputs. The carrying value of these loans approximates fair value.

Financing Receivables

The following table presents the components of the Company’s financing receivables segregated by portfolio segment as of the dates indicated:



	November 1, 2019									February 1, 2019
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Financing receivables, net:
Customer receivables, gross (a)	$	774		$	7,813		$	8,587		$	835		$	7,249		$	8,084
Allowances for losses	(66		)	(78		)	(144		)	(75		)	(61		)	(136		)
Customer receivables, net	708			7,735			8,443			760			7,188			7,948
Residual interest	—			611			611			—			674			674
Financing receivables, net	$	708		$	8,346		$	9,054		$	760		$	7,862		$	8,622
Short-term	$	708		$	3,881		$	4,589		$	760		$	3,638		$	4,398
Long-term	$	—		$	4,465		$	4,465		$	—		$	4,224		$	4,224

____________________


(a)	Customer receivables, gross includes amounts due from customers under revolving loans, fixed-term loans, fixed-term sales-type or direct financing leases, and accrued interest.

The following tables present the changes in allowance for financing receivable losses for the periods indicated:



	Three Months Ended
	November 1, 2019									November 2, 2018
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	67		$	71		$	138		$	75		$	51		$	126
Charge-offs, net of recoveries	(18		)	(6		)	(24		)	(19		)	(4		)	(23		)
Provision charged to income statement	17			13			30			17			6			23
Balances at end of period	$	66		$	78		$	144		$	73		$	53		$	126

	Nine Months Ended
	November 1, 2019									November 2, 2018
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	75		$	61		$	136		$	81		$	64		$	145
Charge-offs, net of recoveries	(53		)	(18		)	(71		)	(58		)	(21		)	(79		)
Provision charged to income statement	44			35			79			50			10			60
Balances at end of period	$	66		$	78		$	144		$	73		$	53		$	126

Aging

The following table presents the aging of the Company’s customer financing receivables, gross, including accrued interest, segregated by class, as of the dates indicated:



	November 1, 2019								February 1, 2019
	Current		Past Due 1 — 90 Days		Past Due >90 Days		Total		Current		Past Due 1 — 90 Days		Past Due >90 Days		Total
	(in millions)
Revolving — DPA	$	524	$	49	$	19	$	592	$	583	$	53	$	21	$	657
Revolving — DBC	161		17		4		182		155		19		4		178
Fixed-term — Consumer and Commercial	6,813		914		86		7,813		6,282		878		89		7,249
Total customer receivables, gross	$	7,498	$	980	$	109	$	8,587	$	7,020	$	950	$	114	$	8,084

Aging is likely to fluctuate year to year as a result of the variability in volume of large transactions entered into over the period, and the administrative processes that accompany those larger transactions. As such, fluctuations in aging do not necessarily indicate a material change in the credit quality of the portfolio.

Credit Quality

The following table presents customer receivables, gross, including accrued interest, by credit quality indicator segregated by class, as of the dates indicated. The categories shown in the table below segregate customer receivables based on the relative degrees of credit risk. The credit quality indicators for DPA revolving accounts are measured primarily as of each quarter-end date, while all other indicators are generally updated on a periodic basis.



	November 1, 2019								February 1, 2019
	Higher		Mid		Lower		Total		Higher		Mid		Lower		Total
	(in millions)
Revolving — DPA	$	124	$	173	$	295	$	592	$	128	$	192	$	337	$	657
Revolving — DBC	$	47	$	56	$	79	$	182	$	47	$	54	$	77	$	178
Fixed-term — Consumer and Commercial	$	4,494	$	1,995	$	1,324	$	7,813	$	3,980	$	1,984	$	1,285	$	7,249

For DPA revolving receivables shown in the table above, the Company makes credit decisions based on proprietary scorecards, which include the customer’s credit history, payment history, credit usage, and other credit agency-related elements. The higher quality category includes prime accounts generally of a higher credit quality that are comparable to U.S. customer FICO scores of 720 or above. The mid-category represents the mid-tier accounts that are comparable to U.S. customer FICO scores from 660 to 719. The lower category is generally sub-prime and represents lower credit quality accounts that are comparable to U.S. customer FICO scores below 660. For the DBC revolving receivables and fixed-term commercial receivables shown in the table above, an internal grading system is utilized that assigns a credit level score based on a number of considerations, including liquidity, operating performance, and industry outlook. The grading criteria and classifications for the fixed-term products differ from those for the revolving products as loss experience varies between these product and customer groups. The credit quality categories cannot be compared between the different classes as loss experience varies substantially between the classes.

Leases

Interest income on sales-type lease receivables was $66 million and $196 million for the three and nine months ended November 1, 2019, respectively.

The following table presents the net revenue, cost of net revenue, and gross margin recognized at the commencement date of sales-type leases for the periods indicated:



	Three Months Ended		Nine Months Ended
	November 1, 2019		November 1, 2019
	(in millions)
Net revenue — products	$	251	$	604
Cost of net revenue — products	215		475
Gross margin — products	$	36	$	129

The following table presents the future maturity of the Company’s fixed-term customer leases and associated financing payments, and reconciles the undiscounted cash flows to the customer receivables, gross recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	850
Fiscal 2021	2,272
Fiscal 2022	1,487
Fiscal 2023	693
Fiscal 2024 and beyond	273
Total undiscounted cash flows	5,575
Fixed-term loans	2,755
Revolving loans	774
Less: unearned income	(517		)
Total customer receivables, gross	$	8,587

Disclosure related to periods prior to adoption of the new lease standard — Future maturities of minimum lease and associated financing payments as of February 1, 2019 were as follows: $2.6 billion in Fiscal 2020; $1.7 billion in Fiscal 2021; $0.9 billion in Fiscal 2022; $0.3 billion in Fiscal 2023; and $0.1 billion in Fiscal 2024 and beyond. Future maturities and associated financing payments referenced herein represent the aggregate payments under the customer lease contract.

Operating Leases

The following table presents the components of the Company’s operating lease portfolio included in Property, plant, and equipment, net as of the date indicated:



	November 1, 2019
	(in millions)
Equipment under operating lease, gross	$	699
Less: accumulated depreciation	(73		)
Equipment under operating lease, net	$	626

As of February 1, 2019, the Company’s equipment under operating lease, net was immaterial.

Operating lease income relating to lease payments was $63 million and $94 million for the three and nine months ended November 1, 2019, respectively. Depreciation expense was $40 million and $64 million for the three and nine months ended November 1, 2019, respectively.

The following table presents the future payments to be received by the Company as lessor in operating lease contracts as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	73
Fiscal 2021	250
Fiscal 2022	229
Fiscal 2023	123
Fiscal 2024 and beyond	10
Total	$	685

DFS Debt

The Company maintains programs that facilitate the funding of leases, loans, and other alternative payment structures in the capital markets. For DFS debt under securitization programs, the Company’s risk of loss is limited to transferred loan and lease payments and associated equipment, and the credit holders under these programs have no recourse to the Company. The following table presents DFS debt as of the dates indicated. The table excludes the allocated portion of the Company’s other borrowings, which represents the additional amount considered to fund the DFS business.



	November 1, 2019		February 1, 2019
	(in millions)
DFS U.S. debt:
Securitization facilities	$	2,019	$	1,914
Fixed-term securitization offerings	3,003		2,303
Other	183		223
Total DFS U.S. debt	5,205		4,440
DFS international debt:
Securitization facility	716		584
Other borrowings	893		708
Note payable	198		197
Dell Bank Senior Unsecured Eurobonds	556		—
Total DFS international debt	2,363		1,489
Total DFS debt	$	7,568	$	5,929
Total short-term DFS debt	$	3,576	$	3,113
Total long-term DFS debt	$	3,992	$	2,816

DFS U.S. Debt

Securitization Facilities — The Company maintains separate securitization facilities in the United States for fixed-term leases and loans and for revolving loans. This debt is collateralized solely by the U.S. loan and lease payments and associated equipment in the facilities. The debt has a variable interest rate and the duration of the debt is based on the terms of the underlying loan and lease payment streams. As of November 1, 2019, the total debt capacity related to the U.S. securitization facilities was $4.0 billion. The Company enters into interest swap agreements to effectively convert a portion of its securitization debt from a floating rate to a fixed rate. See Note 7 of the Notes to the Condensed Consolidated Financial Statements for additional information about interest rate swaps.

The Company’s U.S. securitization facility for revolving loans is effective through June 25, 2022. The Company’s two U.S. securitization facilities for fixed-term leases and loans are effective through August 22, 2021 and July 26, 2022, respectively.

The securitization facilities contain standard structural features related to the performance of the securitized receivables, which include defined credit losses, delinquencies, average credit scores, and minimum collection requirements. In the event one or more of these criteria are not met and the Company is unable to restructure the facility, no further funding of receivables will be permitted and the timing of the Company’s expected cash flows from over-collateralization will be delayed. As of November 1, 2019, these criteria were met.

Fixed-Term Securitization Offerings — The Company periodically issues asset-backed debt securities under fixed-term securitization programs to private investors. The asset-backed debt securities are collateralized solely by the U.S. fixed-term leases and loans in the offerings, which are held by Special Purpose Entities (“SPEs”), as discussed below. The interest rate on these securities is fixed and ranges from 1.91% to 3.85% per annum, and the duration of these securities is based on the terms of the underlying loan and lease payment streams.

DFS International Debt

Securitization Facility — The Company maintains a securitization facility in Europe for fixed-term leases and loans. This facility is effective through December 21, 2020 and has a total debt capacity of $892 million as of November 1, 2019.

The securitization facility contains standard structural features related to the performance of the securitized receivables which include defined credit losses, delinquencies, average credit scores, and minimum collection requirements. In the event one or more of these criteria are not met and the Company is unable to restructure the program, no further funding of receivables will be permitted and the timing of the Company’s expected cash flows from over-collateralization will be delayed. As of November 1, 2019, these criteria were met.

Other Borrowings — In connection with the Company’s international financing operations, the Company has entered into revolving structured financing debt programs related to its fixed-term lease and loan products sold in Canada, Europe, Australia, and New Zealand. The Canadian facility, which is collateralized solely by Canadian loan and lease payments and associated equipment, had a total debt capacity of $285 million as of November 1, 2019, and is effective through January 16, 2023. The European facility, which is collateralized solely by European loan and lease payments and associated equipment, had a total debt capacity of $669 million as of November 1, 2019, and is effective through December 14, 2020. The Australia and New Zealand facility, which is collateralized solely by Australia and New Zealand loan and lease payments and associated equipment, had a total debt capacity of $193 million as of November 1, 2019, and is effective through January 29, 2020.

Note Payable — On November 27, 2017, the Company entered into an unsecured credit agreement to fund receivables in Mexico. As of November 1, 2019, the aggregate principal amount of the note payable is $198 million. The note bears interest at either the applicable London Interbank Offered Rate (“LIBOR”) plus 2.25%, for the borrowings denominated in U.S. dollars, or the Mexican Interbank Equilibrium Interest Rate (“TIIE”) plus 2.00%, for the borrowings denominated in Mexican pesos. The note will mature on December 1, 2020. Although the note is unsecured, the Company manages the note in the same manner as its structured financing programs, so that the collections from loan and lease payments and associated equipment in Mexico are used to pay down principal and interest of the note.

Dell Bank Senior Unsecured Eurobonds — On October 17, 2019, Dell Bank International D.A.C. issued 500 million Euro of 0.625% senior unsecured three year eurobonds due October 2022. The issuance of the senior unsecured eurobonds supports the expansion of the financing operations in Europe.

Variable Interest Entities

In connection with the securitization facilities and offerings discussed above, the Company transfers certain U.S. and European loan and lease payments and associated equipment to SPEs that meet the definition of a Variable Interest Entity (“VIE”) and are consolidated, along with the associated debt detailed above, into the Consolidated Financial Statements, as the Company is the primary beneficiary of those VIEs. The SPEs are bankruptcy-remote legal entities with separate assets and liabilities. The purpose of the SPEs is to facilitate the funding of customer loan and lease payments and associated equipment in the capital markets.

The following table presents financing receivables and equipment under operating leases, net held by the consolidated VIEs as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Assets held by consolidated VIEs, net:
Short-term, net	$	3,212	$	2,940
Long-term, net	3,149		2,508
Assets held by consolidated VIEs, net	$	6,361	$	5,448

Loan and lease payments and associated equipment transferred via securitization through SPEs were $1.3 billion and $1.2 billion for the three months ended November 1, 2019 and November 2, 2018, respectively, and $4.1 billion and $3.7 billion for the nine months ended November 1, 2019 and November 2, 2018, respectively.

Some of the SPEs have entered into financing arrangements with multi-seller conduits that, in turn, issue asset-backed debt securities in the capital markets. The DFS debt outstanding, which is collateralized by the loan and lease payments and associated equipment held by the consolidated VIEs, was $5.7 billion and $4.8 billion as of November 1, 2019 and February 1, 2019, respectively. The Company’s risk of loss related to securitized receivables is limited to the amount by which the Company’s right to receive collections for assets securitized exceeds the amount required to pay interest, principal, and fees and expenses related to the asset-backed securities. The Company provides credit enhancement to the securitizations in the form of over-collateralization.

Customer Receivable Sales

To manage certain concentrations of customer credit exposure, the Company may sell selected fixed-term customer receivables to unrelated third parties on a periodic basis. The amount of customer receivables sold was $406 million and $590 million for the nine months ended November 1, 2019 and November 2, 2018, respectively.

LEASES

9 Months Ended

Nov. 01, 2019

Leases [Abstract]

LEASES

NOTE 5 — LEASES

The Company enters into leasing transactions in which the Company is the lessee. These lease contracts are typically classified as operating leases. The Company’s lease contracts are generally for office buildings used to conduct its business, and the determination of whether such contracts contain leases generally does not require significant estimates or judgments. The Company also leases certain global logistics warehouses, employee vehicles, and equipment. As of November 1, 2019, the remaining terms of the Company’s leases range from one year to 27 years.

The Company also enters into leasing transactions in which the Company is the lessor, primarily through customer financing arrangements offered through DFS. DFS originates leases that are primarily classified as either sales-type leases or operating leases. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information on the DFS lease portfolio and related lease disclosures.

In adopting the new lease standard discussed in Note 1 and Note 2 of the Notes to the Condensed Consolidated Financial Statements, the Company elected to apply a transition method that does not require the retrospective application to periods prior to adoption. Financial information associated with the Company’s leases in which the Company is the lessee is contained in this Note. As of November 1, 2019, there were no material finance leases for which the Company was a lessee.

The following table presents components of lease costs included in the Condensed Consolidated Statements of Income (Loss) for the periods indicated:



	Three Months Ended		Nine Months Ended
	November 1, 2019		November 1, 2019
	(in millions)
Operating lease costs	$	134	$	377
Variable costs	41		120
Total lease costs	$	175	$	497

During the nine months ended November 1, 2019, sublease income, finance lease costs, and short-term lease costs were immaterial.

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the date indicated:



	Classification	November 1, 2019
		(in millions, except for term and discount rate)
Operating lease ROU assets	Other non-current assets	$	1,752

Current operating lease liabilities	Accrued and other current liabilities	$	428
Non-current operating lease liabilities	Other non-current liabilities	1,336
Total operating lease liabilities		$	1,764

Weighted-average remaining lease term (in years)		8.73
Weighted-average discount rate		3.94		%

The following table presents supplemental cash flow information related to leases for the period indicated:



	Nine Months Ended
	November 1, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	367

ROU assets obtained in exchange for new operating lease liabilities	$	495

The following table presents the future maturity of the Company’s operating lease liabilities under non-cancelable leases and reconciles the undiscounted cash flows for these leases to the lease liability recognized on the Condensed Consolidated Statements of Financial Position as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	104
Fiscal 2021	455
Fiscal 2022	360
Fiscal 2023	277
Fiscal 2024	181
Thereafter	772
Total lease payments	$	2,149
Less: Imputed interest	(385		)
Total	$	1,764
Current operating lease liabilities	$	428
Non-current operating lease liabilities	$	1,336

The amount of future lease commitments after Fiscal 2024 is primarily for the ground lease on VMware, Inc.’s Palo Alto, California headquarter facilities, which expires in Fiscal 2047.

As of November 1, 2019, the Company has additional operating leases that have not yet commenced of $665 million. These operating leases will commence during Fiscal 2020 and Fiscal 2021 with lease terms of one year to 16 years.

Disclosure related to periods prior to adoption of the new lease standard

Prior to the adoption of the new lease standard, the Company had the following future minimum lease payments under non-cancelable leases:



	February 1, 2019
Fiscal Years	(in millions)
Fiscal 2020	$	371
Fiscal 2021	314
Fiscal 2022	240
Fiscal 2023	175
Fiscal 2024	113
Thereafter	643
Total	$	1,856

DEBT

9 Months Ended

Nov. 01, 2019

Debt Disclosure [Abstract]

DEBT

NOTE 6 — DEBT

The following table presents the Company’s outstanding debt as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Secured Debt
Senior Secured Credit Facilities:
4.24% Term Loan B Facility due September 2023	$	—	$	4,938
3.79% Term Loan B-1 Facility due September 2025	4,750		—
4.16% Term Loan A-2 Facility due September 2021	—		4,116
3.54% Term Loan A-4 Facility due December 2023	679		1,650
4.25% Term Loan A-5 Facility due December 2019	—		2,016
3.60% Term Loan A-6 Facility due March 2024	3,543		—
First Lien Notes:
3.48% due June 2019	—		3,750
4.42% due June 2021	4,500		4,500
5.45% due June 2023	3,750		3,750
4.00% due July 2024	1,000		—
6.02% due June 2026	4,500		4,500
4.90% due October 2026	1,750		—
5.30% due October 2029	1,750		—
8.10% due July 2036	1,500		1,500
8.35% due July 2046	2,000		2,000
Unsecured Debt
Unsecured Notes and Debentures:
5.875% due June 2019	—		600
4.625% due April 2021	400		400
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
Senior Notes:
5.875% due June 2021	1,075		1,625
7.125% due June 2024	1,625		1,625
EMC Notes:
2.650% due June 2020	2,000		2,000
3.375% due June 2023	1,000		1,000
Public Subsidiary Debt
VMware Notes:
2.30% due August 2020	1,250		1,250
2.95% due August 2022	1,500		1,500
3.90% due August 2027	1,250		1,250
VMware Term Loan Facility	600		—
DFS Debt (Note 4)	7,568		5,929
Other
4.18% Margin Loan Facility due April 2022	4,000		3,350
Other	84		38
Total debt, principal amount	$	53,026	$	54,239



	November 1, 2019			February 1, 2019
	(in millions)
Total debt, principal amount	$	53,026		$	54,239
Unamortized discount, net of unamortized premium	(246		)	(271		)
Debt issuance costs	(389		)	(447		)
Total debt, carrying value	$	52,391		$	53,521
Total short-term debt, carrying value	$	7,664		$	4,320
Total long-term debt, carrying value	$	44,727		$	49,201

During the nine months ended November 1, 2019, the Company repaid $550 million principal amount of its 5.875% senior unsecured notes due June 2021, $600 million principal amount of its 5.875% senior unsecured notes due June 2019 upon maturity, $950 million principal amount of its Term Loan A-4 Facility, and approximately $136 million of principal amortization under its term loan facilities. The Company also repaid $162.5 million principal amount as part of the Term Loan B Facility refinancing and the remaining principal amount of approximately $1,277 million of its Term Loan A-2 Facility in connection with the First Lien Notes issued on March 20, 2019, as described below under “Refinancing Transactions.” Additionally, during the nine months ended November 1, 2019, the Company issued an additional $1.6 billion, net, in DFS debt to support the expansion of its financing receivables portfolio.

Refinancing Transactions

On March 7, 2019, the Company amended the Margin Loan Agreement to increase the aggregate principal amount of borrowings under the Margin Loan Facility by $650 million.

On March 13, 2019, the Company entered into an amendment to the credit agreement for the Senior Secured Credit Facilities to obtain a new senior secured Term Loan A-6 Facility in order to refinance the $5 billion aggregate principal amount of debt incurred in connection with the Class V transaction described in Note 14 of the Notes to the Condensed Consolidated Financial Statements. The Term Loan A-6 Facility aggregate principal amount of $3,634 million matures on March 13, 2024, of which $2,839 million aggregate principal amount represents the amounts outstanding under the Term Loan A-2 Facility that rolled-over into the new facility. Immediately after the rollover, an aggregate principal amount of $1,277 million remained outstanding under the Term Loan A-2 Facility.

On March 20, 2019, Dell International L.L.C. and EMC Corporation, both of which are wholly-owned subsidiaries of Dell Technologies Inc., completed a private offering of multiple series of First Lien Notes in an aggregate principal amount of $4.5 billion. The principal amount, interest rate, and maturity of each series of such First Lien Notes were $1,000 million of 4.00% First Lien Notes due July 15, 2024, $1,750 million of 4.90% First Lien Notes due October 1, 2026, and $1,750 million of 5.30% First Lien Notes due October 1, 2029.

A majority of the proceeds from the First Lien Notes issued on March 20, 2019 was used to repay all of the outstanding $3,750 million principal amount of the 3.48% First Lien Notes due June 2019. In addition, proceeds of approximately $800 million of borrowings under the new Term Loan A-6 Facility, the proceeds of the $650 million increase in the Margin Loan Facility, and a portion of the proceeds from the 2019 First Lien Notes were used to repay all $2,016 million of the Company’s outstanding amounts under the Term Loan A-5 Facility due December 2019. During the three months ended May 3, 2019, the remaining proceeds available from the 2019 First Lien Notes were used to repay $550 million of outstanding amounts under the Term Loan A-2 Facility and to pay related premiums, accrued interest, fees, and expenses. The Term Loan A-2 Facility was subsequently paid off as of August 2, 2019.

On September 19, 2019, the Company entered into a sixth refinancing amendment to the Senior Secured Credit Agreement (the “Sixth Refinancing Amendment”) to refinance the Term Loan B Facility due September 2023 with a new term loan B facility consisting of an aggregate principal amount of $4,750 million refinancing term B-1 loans maturing on September 19, 2025 (“Term Loan B-1 Facility due September 2025” or “Term Loan B-1 Facility”). The Company used the proceeds from the Term Loan B-1 Facility, together with other funds available, to repay $4,913 million of outstanding amounts under the Term Loan B Facility due September 2023 and to pay related accrued interest, fees and expenses.

The refinancing and amendments were evaluated in accordance with FASB ASC 470, “Debt-Modifications and Extinguishments.” The amendment to the Margin Loan Agreement and the term debt refinancing were accounted for as modifications for all existing lenders and as new issuances for new lenders. The First Lien Notes issued on March 20, 2019 were accounted for as new issuances for all lenders, and repayment of the Company’s outstanding amounts under the Term Loan A-5 Facility was accounted for as an extinguishment. During the three months ended May 3, 2019, the Company capitalized $74.5 million in new fees paid to creditors as a result of the modifications and new issuances. In addition, the Company recognized expenses of $32.3 million in unamortized costs and $7.1 million in new third-party costs during the three months ended May 3, 2019. The Term Loan B Facility refinancing was accounted for as a modification for all existing lenders and as a new issuance for new lenders. During the three months ended November 1, 2019, the Company capitalized $5.9 million in new fees paid to creditors as a result of the modifications and new issuances. In addition, the Company recognized expenses of $1.5 million in unamortized costs and $5.1 million in new third-party costs during the three months ended November 1, 2019.

Secured Debt

Senior Secured Credit Facilities — The Company has entered into a credit agreement that provides for senior secured credit facilities (the “Senior Secured Credit Facilities”) comprising (a) term loan facilities and (b) a senior secured Revolving Credit Facility, which includes capacity for up to $0.5 billion of letters of credit and for borrowings of up to $0.4 billion under swing-line loans.

As of November 1, 2019, available borrowings under the Revolving Credit Facility totaled $4.5 billion. The Senior Secured Credit Facilities provide that the borrowers have the right at any time, subject to customary conditions, to request incremental term loans or incremental revolving commitments.

Borrowings under the Senior Secured Credit Facilities bear interest at a rate per annum equal to an applicable margin, plus, at the borrowers’ option, either (a) a base rate, or (b) the London Interbank Offered Rate (“LIBOR”). The Term Loan B-1 Facility bears interest at LIBOR plus an applicable margin of 2.00% or a base rate plus an applicable margin of 1.00%. The Term Loan A-4 Facility and the Term Loan A-6 Facility bear interest at LIBOR plus an applicable margin ranging from 1.25% to 2.00% or a base rate plus an applicable margin ranging from 0.25% to 1.00%. Interest is payable, in the case of loans bearing interest based on LIBOR, at the end of each interest period (but at least every three months), in arrears and, in the case of loans bearing interest based on the base rate, quarterly in arrears.

The Term Loan B-1 Facility amortizes in equal quarterly installments in aggregate annual amounts equal to 1% of the original principal amount. The Term Loan A-4 Facility amortizes in equal quarterly installments in aggregate annual amounts equal to 5% of the original principal amount in each of the first four years after the facility closing date of December 20, 2018, and 80% of the original principal amount in the fifth year after December 20, 2018. The Term Loan A-6 Facility amortizes in equal quarterly installments in aggregate annual amounts equal to 5% of the original principal amount in each of the first four years after the facility closing date of March 13, 2019, and 80% of the original principal amount in the fifth year after March 13, 2019. The Revolving Credit Facility has no amortization.

The borrowers may voluntarily repay outstanding loans under the term loan facilities and the Revolving Credit Facility at any time without premium or penalty, other than customary “breakage” costs.

All obligations of the borrowers under the Senior Secured Credit Facilities and certain swap agreements, cash management arrangements, and certain letters of credit provided by any lender or agent party to the Senior Secured Credit Facilities or any of its affiliates and certain other persons are secured by (a) a first-priority security interest in certain tangible and intangible assets of the borrowers and the guarantors and (b) a first-priority pledge of 100% of the capital stock of the borrowers, Dell Inc., a wholly‑owned subsidiary of the Company (“Dell”), and each wholly-owned material restricted subsidiary of the borrowers and the guarantors, in each case subject to certain thresholds, exceptions, and permitted liens.

First Lien Notes — The senior secured notes (collectively, the “First Lien Notes”) were issued on June 1, 2016 and March 20, 2019 in an aggregate principal amount of $20.0 billion and $4.5 billion, respectively. As discussed above, during the three months ended May 3, 2019, the Company used a portion of the $4.5 billion proceeds from the First Lien Notes issued on March 20, 2019 to repay all of the outstanding $3,750 million principal amount of its 3.48% First Lien Notes due June 2019. Interest on these borrowings is payable semiannually. The First Lien Notes are secured on a pari passu basis with the Senior Secured Credit Facilities, on a first-priority basis by substantially all of the tangible and intangible assets of the issuers and guarantors that secure obligations under the Senior Secured Credit Facilities, including pledges of all capital stock of the issuers, Dell, and certain wholly-owned material subsidiaries of the issuers and the guarantors, subject to certain exceptions.

The Company has agreed to use commercially reasonable efforts to register with the SEC notes having terms substantially identical to the terms of the First Lien Notes as part of an offer to exchange such registered notes for the First Lien Notes. The Company will be obligated to pay additional interest on the First Lien Notes if it fails to consummate such an exchange offer within five years after the closing date of the EMC merger transaction, in the case of the First Lien Notes issued on June 1, 2016, and within five years after their issue date, in the case of the First Lien Notes issued on March 20, 2019.

China Revolving Credit Facility — During the three months ended May 3, 2019, the Company renewed its credit agreement (the “China Revolving Credit Facility”) with a bank lender for a secured revolving loan facility in an aggregate principal amount not to exceed $500 million at an interest rate of LIBOR plus 0.6% per annum. The facility will expire on February 26, 2020. As of November 1, 2019, there were no outstanding borrowings under the China Revolving Credit Facility.

Unsecured Debt

Unsecured Notes and Debentures — The Company has outstanding unsecured notes and debentures (collectively, the “Unsecured Notes and Debentures”) that were issued by Dell prior to the acquisition of Dell by Dell Technologies Inc. in the going-private transaction that closed in October 2013. Interest on these borrowings is payable semiannually.

Senior Notes — The senior unsecured notes (collectively, the “Senior Notes”) were issued on June 22, 2016 in an aggregate principal amount of $3.25 billion. Interest on these borrowings is payable semiannually.

EMC Notes — On September 7, 2016, EMC had outstanding $2.5 billion aggregate principal amount of its 1.875% Notes due June 2018, which the Company fully repaid during the three months ended August 3, 2018, $2.0 billion aggregate principal amount of its 2.650% Notes due June 2020, and $1.0 billion aggregate principal amount of its 3.375% Notes due June 2023 (collectively, the “EMC Notes”). Interest on these borrowings is payable semiannually.

VMware Notes — On August 21, 2017, VMware, Inc. completed a public offering of unsecured senior notes in the aggregate amount of $4.0 billion, consisting of outstanding principal due on the following dates: $1.25 billion due August 21, 2020, $1.5 billion due August 21, 2022, and $1.25 billion due August 21, 2027 (collectively, the “VMware Notes”). The VMware Notes bear interest, payable semiannually, at annual rates of 2.30%, 2.95%, and 3.90%, respectively. None of the net proceeds of such borrowings will be made available to support the operations or satisfy any corporate purposes of Dell Technologies, other than the operations and corporate purposes of VMware, Inc. and VMware, Inc.’s subsidiaries.

VMware Revolving Credit Facility — On September 12, 2017, VMware, Inc. entered into an unsecured credit agreement, establishing a revolving credit facility (the “VMware Revolving Credit Facility”) with a syndicate of lenders that provides the company with a borrowing capacity of up to $1.0 billion for VMware, Inc. general corporate purposes. Commitments under the VMware Revolving Credit Facility are available for a period of five years, which may be extended, subject to the satisfaction of certain conditions, by up to two one year periods. The credit agreement contains certain representations, warranties, and covenants. Commitment fees, interest rates, and other terms of borrowing under the VMware Revolving Credit Facility may vary based on VMware, Inc.’s external credit ratings. None of the net proceeds of such borrowings will be made available to support the operations or satisfy any corporate purposes of Dell Technologies, other than the operations and corporate purposes of VMware, Inc. and VMware, Inc.’s subsidiaries. As of November 1, 2019, there were no outstanding borrowings under the VMware Revolving Credit Facility.

VMware Term Loan Facility — On September 26, 2019, VMware, Inc. entered into a senior unsecured term loan facility (the “VMware Term Loan Facility”) with a syndicate of lenders that provides VMware, Inc. with a borrowing capacity of up to $2.0 billion for VMware, Inc. general corporate purposes. VMware, Inc. may borrow against the VMware Term Loan Facility two times up to its borrowing capacity of $2.0 billion until February 7, 2020. The VMware Term Loan Facility matures on the 364^th day following the initial funding under the facility. The VMware Term Loan Facility bears interest at LIBOR plus 0.75% to 1.25%, or an alternative base rate plus 0.00% to 0.25%, depending on VMware Inc.’s external credit ratings. VMware, Inc. drew down $2.0 billion and repaid $1.4 billion during the three months ended November 1, 2019. As of November 1, 2019, the outstanding balance was $600 million, and $1.4 billion remained available to be drawn down for future borrowing purposes. The VMware Term Loan Facility contains certain representations, warranties, and covenants. None of the net proceeds of such borrowings will be made available to support the operations or satisfy any corporate purposes of Dell Technologies, other than the operations and corporate purposes of VMware, Inc. and VMware, Inc.’s subsidiaries.

DFS Debt

See Note 4 and Note 7 of the Notes to the Condensed Consolidated Financial Statements, respectively, for discussion of DFS debt and the interest rate swap agreements that hedge a portion of that debt.

Other

Margin Loan Facility — On April 12, 2017, the Company entered into the Margin Loan Facility in an aggregate principal amount of $2.0 billion. In connection with the Class V transaction, on December 20, 2018, the Company amended the Margin Loan Facility to increase the aggregate principal amount to $3.35 billion. In connection with obtaining the Term Loan A-6 Facility, the Company increased the aggregate principal amount of the Margin Loan Facility to $4.0 billion. VMW Holdco LLC, a wholly-owned subsidiary of EMC, is the borrower under the Margin Loan Facility, which is secured by 60 million shares of Class B common stock of VMware, Inc. and 20 million shares of Class A common stock of VMware, Inc. Loans under the Margin Loan Facility bear interest at a rate per annum payable, at the borrower’s option, either at (a) a base rate plus 1.25% per annum or (b) a LIBOR-based rate plus 2.25% per annum. Interest under the Margin Loan Facility is payable quarterly.

The Margin Loan Facility will mature in April 2022. The borrower may voluntarily repay outstanding loans under the Margin Loan Facility at any time without premium or penalty, other than customary “breakage” costs, subject to certain minimum threshold amounts for prepayment.

Pivotal Revolving Credit Facility — On September 7, 2017, Pivotal entered into a credit agreement (the “Pivotal Revolving Credit Facility”) that provided for a senior secured revolving loan facility in an aggregate principal amount not to exceed $100 million. The credit facility contained customary representations, warranties, and covenants, including financial covenants. During the three months ended November 1, 2019, the Pivotal Revolving Credit Facility was terminated.

Aggregate Future Maturities

The following table presents the aggregate future maturities of the Company’s debt as of November 1, 2019 for the periods indicated:



	Maturities by Fiscal Year
	2020 (remaining three months)		2021			2022			2023			2024			Thereafter			Total
	(in millions)
Senior Secured Credit Facilities and First Lien Notes	$	91	$	184		$	4,717		$	286		$	6,702		$	17,742		$	29,722
Unsecured Notes and Debentures	—		—			400			—			—			952			1,352
Senior Notes and EMC Notes	—		2,000			1,075			—			1,000			1,625			5,700
VMware Notes	—		1,850			—			1,500			—			1,250			4,600
DFS Debt	1,249		3,611			1,418			1,198			84			8			7,568
Margin Loan Facility	—		—			—			4,000			—			—			4,000
Other	11		21			7			8			7			30			84
Total maturities, principal amount	1,351		7,666			7,617			6,992			7,793			21,607			53,026
Associated carrying value adjustments	—		(8		)	(57		)	(26		)	(53		)	(491		)	(635		)
Total maturities, carrying value amount	$	1,351	$	7,658		$	7,560		$	6,966		$	7,740		$	21,116		$	52,391

Covenants and Unrestricted Net Assets — The credit agreement for the Senior Secured Credit Facilities contains customary negative covenants that generally limit the ability of Denali Intermediate Inc., a wholly-owned subsidiary of Dell Technologies (“Dell Intermediate”), Dell, and Dell’s and Denali Intermediate’s other restricted subsidiaries to incur debt, create liens, make fundamental changes, enter into asset sales, make certain investments, pay dividends or distribute or redeem certain equity interests, prepay or redeem certain debt, and enter into certain transactions with affiliates. The indenture governing the Senior Notes contains customary negative covenants that generally limit the ability of Denali Intermediate, Dell, and Dell’s and Denali Intermediate’s other restricted subsidiaries to incur additional debt or issue certain preferred shares, pay dividends on or make other distributions in respect of capital stock or make other restricted payments, make certain investments, sell or transfer certain assets, create liens on certain assets to secure debt, consolidate, merge, sell, or otherwise dispose of all or substantially all assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. The negative covenants under such credit agreements and indenture are subject to certain exceptions, qualifications, and “baskets.” The indentures governing the First Lien Notes, the Unsecured Notes and Debentures, and the EMC Notes variously impose limitations, subject to specified exceptions, on creating certain liens, entering into sale and lease-back transactions, and entering into certain asset sales. The foregoing credit agreements and indentures contain customary events of default, including failure to make required payments, failure to comply with covenants, and the occurrence of certain events of bankruptcy and insolvency.

As of November 1, 2019, the Company had certain consolidated subsidiaries that were designated as unrestricted subsidiaries for all purposes of the applicable credit agreements and the indentures governing the First Lien Notes and the Senior Notes. Substantially all of the net assets of the Company’s consolidated subsidiaries were restricted, with the exception of the Company’s unrestricted subsidiaries, primarily VMware, Inc., Pivotal, Secureworks, and their respective subsidiaries, as of November 1, 2019.

The Term Loan A-4 Facility, the Term Loan A-6 Facility, and the Revolving Credit Facility are subject to a first lien leverage ratio covenant that is tested at the end of each fiscal quarter of Dell with respect to Dell’s preceding four fiscal quarters. The Company was in compliance with all financial covenants as of November 1, 2019.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

9 Months Ended

Nov. 01, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

NOTE 7 — DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

As part of its risk management strategy, the Company uses derivative instruments, primarily foreign currency forward and option contracts and interest rate swaps, to hedge certain foreign currency and interest rate exposures, respectively.

The Company’s objective is to offset gains and losses resulting from these exposures with gains and losses on the derivative contracts used to hedge the exposures, thereby reducing volatility of earnings and protecting the fair values of assets and liabilities. The earnings effects of the derivative instruments are presented in the same income statement line items as the earnings effects of the hedged items. For derivatives designated as cash flow hedges, the Company assesses hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. The Company does not have any derivatives designated as fair value hedges.

Foreign Exchange Risk

The Company uses foreign currency forward and option contracts designated as cash flow hedges to protect against the foreign currency exchange rate risks inherent in its forecasted transactions denominated in currencies other than the U.S. dollar. Hedge accounting is applied based upon the criteria established by accounting guidance for derivative instruments and hedging activities. The risk of loss associated with purchased options is limited to premium amounts paid for the option contracts. The risk of loss associated with forward contracts is equal to the exchange rate differential from the time the contract is entered into until the time it is settled. The majority of these contracts typically expire in twelve months or less.

During the nine months ended November 1, 2019 and November 2, 2018, the Company did not discontinue any cash flow hedges related to foreign exchange contracts that had a material impact on the Company’s results of operations due to the probability that the forecasted cash flows would not occur.

The Company uses forward contracts to hedge monetary assets and liabilities denominated in a foreign currency. These contracts generally expire in three months or less, are considered economic hedges, and are not designated for hedge accounting. The change in the fair value of these instruments represents a natural hedge as their gains and losses offset the changes in the underlying fair value of the monetary assets and liabilities due to movements in currency exchange rates.

In connection with expanded offerings of DFS in Europe, forward contracts are used to hedge financing receivables denominated in foreign currencies other than Euro. These contracts are not designated for hedge accounting and most expire within three years or less.

Interest Rate Risk

The Company uses interest rate swaps to hedge the variability in cash flows related to the interest rate payments on structured financing debt. The interest rate swaps economically convert the variable rate on the structured financing debt to a fixed interest rate to match the underlying fixed rate being received on fixed-term customer leases and loans. These contracts are not designated for hedge accounting and most expire within three years or less.

Interest rate swaps are utilized to manage the interest rate risk, at a portfolio level, associated with DFS operations in Europe. The interest rate swaps economically convert the fixed rate on financing receivables to a three-month Euribor floating rate basis in order to match the floating rate nature of the banks’ funding pool. These contracts are not designated for hedge accounting and most expire within five years or less.

The Company utilizes cross currency amortizing swaps to hedge the currency and interest rate risk exposure associated with the securitization program that was established in Europe in January 2017. The cross currency swaps combine a Euro-based interest rate swap with a British Pound or U.S. Dollar foreign exchange forward contract in which the Company pays a fixed British Pound or U.S. Dollar amount and receives a floating amount in Euros linked to the one-month Euribor. The notional value of the swaps amortizes in line with the expected cash flows and run-off of the securitized assets. The swaps are not designated for hedge accounting and expire within five years or less.

Derivative Instruments

Notional Amounts of Outstanding Derivative Instruments



	November 1, 2019		February 1, 2019
	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	8,550	$	7,573
Non-designated as hedging instruments	6,734		6,129
Total	$	15,284	$	13,702
Interest rate contracts:
Non-designated as hedging instruments	$	3,715	$	2,674

Effect of Derivative Instruments Designated as Hedging Instruments on the Condensed Consolidated Statements of Financial Position and the Condensed Consolidated Statements of Income (Loss)



Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives			Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from Accumulated OCI into Income
	(in millions)				(in millions)
For the three months ended November 1, 2019
				Total net revenue	$	71
Foreign exchange contracts	$	(47	)	Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	(47	)		$	71

For the three months ended November 2, 2018
				Total net revenue	$	76
Foreign exchange contracts	$	73		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	73			$	76

For the nine months ended November 1, 2019
				Total net revenue	$	197
Foreign exchange contracts	$	210		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	210			$	197

For the nine months ended November 2, 2018
				Total net revenue	$	122
Foreign exchange contracts	$	314		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	314			$	122

Effect of Derivative Instruments Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income (Loss)



	Three Months Ended				Nine Months Ended
	November 1, 2019		November 2, 2018		November 1, 2019			November 2, 2018		Location of Gain (Loss) Recognized
	(in millions)
Gain (Loss) Recognized:
Foreign exchange contracts	$	13	$	18	$	(46	)	$	50	Interest and other, net
Interest rate contracts	1		1		(21		)	2		Interest and other, net
Total	$	14	$	19	$	(67	)	$	52

Fair Value of Derivative Instruments in the Condensed Consolidated Statements of Financial Position

The Company presents its foreign exchange derivative instruments on a net basis in the Condensed Consolidated Statements of Financial Position due to the right of offset by its counterparties under master netting arrangements. The following tables present the fair value of those derivative instruments presented on a gross basis as of the dates indicated:



	November 1, 2019
	Other Current Assets			Other Non- Current Assets		Other Current Liabilities			Other Non-Current Liabilities			Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	90		$	—	$	11		$	—		$	101
Foreign exchange contracts in a liability position	(24		)	—		(22		)	—			(46		)
Net asset (liability)	66			—		(11		)	—			55
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	176			—		41			—			217
Foreign exchange contracts in a liability position	(124		)	—		(70		)	(3		)	(197		)
Interest rate contracts in an asset position	—			1		—			—			1
Interest rate contracts in a liability position	—			—		—			(24		)	(24		)
Net asset (liability)	52			1		(29		)	(27		)	(3		)
Total derivatives at fair value	$	118		$	1	$	(40	)	$	(27	)	$	52

	February 1, 2019
	Other Current Assets			Other Non- Current Assets		Other Current Liabilities			Other Non-Current Liabilities			Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	45		$	—	$	29		$	—		$	74
Foreign exchange contracts in a liability position	(19		)	—		(20		)	—			(39		)
Net asset (liability)	26			—		9			—			35
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	178			—		57			—			235
Foreign exchange contracts in a liability position	(110		)	—		(115		)	(2		)	(227		)
Interest rate contracts in an asset position	—			3		—			—			3
Interest rate contracts in a liability position	—			—		—			(9		)	(9		)
Net asset (liability)	68			3		(58		)	(11		)	2
Total derivatives at fair value	$	94		$	3	$	(49	)	$	(11	)	$	37

The following tables present the gross amounts of the Company’s derivative instruments, amounts offset due to master netting agreements with the Company’s counterparties, and the net amounts recognized in the Condensed Consolidated Statements of Financial Position as of the dates indicated:



	November 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	319		$	(200	)	$	119		$	—	$	—	$	119
Financial liabilities	(267		)	200			(67		)	—		11		(56		)
Total derivative instruments	$	52		$	—		$	52		$	—	$	11	$	63

	February 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	312		$	(215	)	$	97		$	—	$	—	$	97
Financial liabilities	(275		)	215			(60		)	—		4		(56		)
Total derivative instruments	$	37		$	—		$	37		$	—	$	4	$	41

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Nov. 01, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 8 — GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents goodwill allocated to the Company’s business segments and changes in the carrying amount of goodwill as of the dates indicated:



	Infrastructure Solutions Group			Client Solutions Group		VMware		Other Businesses (a)			Total
	(in millions)
Balance as of February 1, 2019	$	15,199		$	4,237	$	16,419	$	4,234		$	40,089
Goodwill acquired (b)	—			—		1,909		—			1,909
Impact of foreign currency translation	(92		)	—		—		(11		)	(103		)
Goodwill impaired (c)	—			—		—		(207		)	(207		)
Balance as of November 1, 2019	$	15,107		$	4,237	$	18,328	$	4,016		$	41,688

____________________

(a) Other Businesses consists of offerings by Pivotal, Secureworks, RSA Security LLC (“RSA Security”), Virtustream Group Holdings, Inc. (“Virtustream”), and Boomi, Inc. (“Boomi”).

(b) VMware, Inc. acquisitions, as discussed below.

VMware, Inc. Acquisition of Carbon Black, Inc.

On October 8, 2019, VMware, Inc. completed the acquisition of Carbon Black, Inc. (“Carbon Black”), a developer of cloud-native endpoint protection, in a cash tender offer for all of the outstanding shares of Carbon Black’s common stock, at a price of $26.00 per share. VMware, Inc. acquired Carbon Black to create a comprehensive intrinsic security portfolio to protect workloads, clients, and infrastructure from cloud to edge. VMware, Inc. believes that the acquisition will result in synergies with the Carbon Black platform and VMware NSX and VMware Workspace ONE offerings, among others, and enable VMware, Inc. to offer a highly-differentiated intrinsic security platform addressing multiple concerns of the security industry. The total preliminary purchase price was $2.0 billion, net of cash acquired of $111 million.

Merger consideration totaling $18 million is held with a third-party paying agent and is payable to a certain employee of Carbon Black subject to specified future employment conditions and is being recognized as an expense over the requisite service period of approximately two years on a straight-line basis.

VMware, Inc. assumed all of Carbon Black’s unvested stock options and restricted stock outstanding at the completion of the acquisition with an estimated fair value of $181 million. Of the total consideration, $10 million was allocated to the purchase price and $171 million was allocated to future services and will be expensed over the remaining requisite service periods of approximately three years on a straight-line basis. The estimated fair value of the stock options assumed by VMware, Inc. was determined using the Black-Scholes option pricing model. The share conversion ratio of 0.2 was applied to convert Carbon Black’s outstanding stock awards into shares of VMware, Inc.'s common stock.

The following table summarizes the preliminary allocation of the consideration to the fair value of the assets acquired and liabilities assumed on the date of acquisition.



	Preliminary Allocation
	(in millions)
Cash	$	111
Accounts receivable	58
Intangible assets	492
Goodwill	1,588
Other acquired assets	52
Total assets acquired	2,301
Unearned revenue	151
Other assumed liabilities	45
Total liabilities assumed	196
Fair value of assets acquired and liabilities assumed	$	2,105

The following table summarizes the components of the intangible assets acquired and their estimated useful lives by VMware, Inc. in conjunction with the acquisition.



	Weighted-Average Useful Lives	Fair Value Amount
	(in years)	(in millions)
Purchased technology	4.2	$	232
Customer relationships and customer lists	7.0	215
Trademarks and tradenames	5.0	25
Other	2.0	20
Total definite-lived intangible assets		$	492

The excess of the purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The estimated fair value assigned to the tangible assets, identifiable intangible assets, and assumed liabilities were based on VMware, Inc. management's estimates and assumptions. The initial allocation of the purchase price was based on preliminary valuations and assumptions and is subject to change within the measurement period. Additionally, current and non-current income taxes payable and deferred taxes may be subject to change as additional information is received and tax returns are finalized. VMware, Inc. expects to finalize the allocation of the purchase price within the measurement period. VMware, Inc. expects that goodwill and identifiable intangible assets will not be deductible for tax purposes.

The pro forma financial information assuming the acquisition had occurred as of the beginning of the fiscal year prior to the fiscal year of acquisition, as well as the revenue and earnings generated during the current fiscal year, were not material for disclosure purposes.

Other VMware, Inc. Acquisitions

During the three months ended November 1, 2019, VMware, Inc. completed four other acquisitions. VMware, Inc. expects that these acquisitions will enhance its product features and capabilities for its software defined data center solutions and software-as-a-service offerings. The aggregate purchase price, net of cash acquired for these four acquisitions, was $68 million, which primarily included $21 million of identifiable intangible assets and $48 million of goodwill, of which the majority is not expected to be deductible for tax purposes. The identifiable intangible assets had estimated useful lives of one to five years and primarily consisted of completed technology.

During the three months ended August 2, 2019, VMware, Inc. completed the acquisition of Avi Networks, Inc., a provider of multi-cloud application delivery services. The total purchase price was $326 million, net of cash acquired of $9 million. The purchase price primarily included $94 million of identifiable intangible assets and $228 million of goodwill that is not expected to be deductible for tax purposes.

During the three months ended May 3, 2019, VMware, Inc. completed the acquisition of AetherPal, Inc., a provider of remote support solutions. The total purchase price was $45 million, which primarily included $12 million of identifiable intangible assets and $33 million of goodwill that is not expected to be deductible for tax purposes.

These and other VMware, Inc. acquisitions were not material individually to the Condensed Consolidated Financial Statements. For each of the acquisitions, the initial allocation of the purchase price was based on preliminary valuations and assumptions and is subject to change within the measurement period. VMware, Inc. expects to finalize the allocation of the purchase price for each of the acquisitions within the measurement period.

Goodwill Impairment Tests — Goodwill and indefinite-lived intangible assets are tested for impairment annually during the third fiscal quarter and whenever events or circumstances may indicate that an impairment has occurred. The Company elected to bypass the assessment of qualitative factors to determine whether it was more likely than not that the fair value of a reporting unit was less than its carrying amount, including goodwill. In electing to bypass the qualitative assessment, the Company proceeded directly to performing a quantitative goodwill impairment test to measure the fair value of each goodwill reporting unit relative to its carrying amount, and to determine the amount of goodwill impairment loss to be recognized, if any.

Based on the results of the annual impairment test performed during the three months ended November 1, 2019, the fair values of each of the reporting units exceeded their carrying values. However, it was determined that the excess of fair value over carrying amount was less than 20% for the RSA Security reporting unit, which had an excess of fair value over carrying amount of 13% as of November 1, 2019. Management will continue to monitor the RSA Security goodwill reporting unit and consider potential impacts to the impairment assessment.

Based on the results of the annual impairment test performed for the fiscal year ended February 1, 2019, which was also a quantitative test for all goodwill reporting units, the fair values of each of the reporting units, except for the Virtustream reporting unit, exceeded their carrying values. Virtustream’s results, which are reported within the Company’s Other Businesses, do not meet the requirements for a reportable segment and are not material to the Company’s overall results. See Note 18 of the Notes to the Condensed Consolidated Financial Statements for additional segment information.

Virtustream delivers an application management cloud platform for enterprise mission-critical workloads in the Infrastructure-as-a-Service market, and had approximately $0.4 billion in goodwill that was derived from the EMC merger transaction during the fiscal year ended February 3, 2017.

During fiscal year ended February 1, 2019, Virtustream forecasts were revised downward due to a resetting of the longer-term business model that is focused on a streamlined product portfolio. Based on the results of the annual impairment test performed for the fiscal year ended February 1, 2019, it was determined that the carrying value of the Virtustream reporting unit exceeded its fair value, and, as such, a goodwill impairment charge of approximately $190 million was recognized during the three months ended November 2, 2018 to write the goodwill down to a fair value of approximately $200 million.

During the three months ended August 2, 2019, strategic alternatives were evaluated for Virtustream that provided new fair value indicators and resulted in the need to perform an impairment assessment of both long-lived assets and goodwill. Based on the results of the impairment assessment, it was determined that the fair value of the asset group was less than its carrying value. A gross impairment charge of $619 million and $524 million net of tax benefits, was recognized related to Virtustream intangible assets, property, plant, and equipment, and remaining goodwill during the three months ended August 2, 2019. The gross impairment charge related to Virtustream was classified in selling, general, and administrative in the Condensed Consolidated Statements of Income (Loss). Additionally, required deferred tax adjustments associated with the intangible assets and property, plant, and equipment resulted in the recognition of an income tax benefit of $95 million in the Condensed Consolidated Statements of Income (Loss).

The impairment is reflected in the Condensed Consolidated Statements of Financial Position as of November 1, 2019 as a reduction in Goodwill of $207 million, a reduction in Intangible assets, net of $266 million, a reduction in Property, plant, and equipment, net of $146 million, and a reduction in Other non-current liabilities of $95 million related to deferred income taxes. There are no remaining balances of Virtustream goodwill, intangible assets, or property, plant, and equipment as of November 1, 2019 following the impairment charges recognized during the three months ended August 2, 2019 and November 2, 2018.

In conjunction with the annual impairment test performed for the fiscal year ended February 1, 2019, it was determined that the excess of fair value over carrying amount was less than 20% for the RSA Security reporting unit, which had an excess of fair value over carrying amount of 11% as of November 2, 2018.

Following the closing of the Class V transaction described in Note 14 of the Notes to the Condensed Consolidated Financial Statements, the Company performed an interim impairment analysis during the three months ended February 1, 2019 given the availability of market data for the fair value of the Class C Common Stock. Other than the impairment indicators disclosed during the Company’s annual goodwill impairment test during the three months ended November 2, 2018, there were no impairment indicators resulting from the interim impairment analysis.

Management exercised significant judgment related to the above assessments, including the identification of goodwill reporting units, assignment of assets and liabilities to goodwill reporting units, assignment of goodwill to reporting units, and determination of the fair value of each goodwill reporting unit. The fair value of each goodwill reporting unit is generally estimated using a combination of public company multiples and discounted cash flow methodologies, unless the reporting unit relates to a publicly traded entity (VMware, Inc., Pivotal, or Secureworks), in which case the fair value is determined based primarily on the public company market valuation. The discounted cash flow and public company multiples methodologies require significant judgment, including estimation of future cash flows, which is dependent on internal forecasts, current and anticipated economic conditions and trends, selection of market multiples through assessment of the reporting unit’s performance relative to peer competitors, the estimation of the long-term growth rate of the Company’s business, and the determination of the Company’s weighted average cost of capital. Changes in these estimates and assumptions could materially affect the fair value of the goodwill reporting unit, potentially resulting in a non-cash impairment charge.

Intangible Assets

The following table presents the Company’s intangible assets as of the dates indicated:



	November 1, 2019							February 1, 2019
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(in millions)
Customer relationships	$	22,947	$	(13,319	)	$	9,628	$	22,750	$	(11,703	)	$	11,047
Developed technology	15,702		(10,454		)	5,248		15,701		(9,036		)	6,665
Trade names	1,307		(764		)	543		1,291		(606		)	685
Leasehold assets (liabilities)	—		—			—		128		(10		)	118
Definite-lived intangible assets	39,956		(24,537		)	15,419		39,870		(21,355		)	18,515
Indefinite-lived trade names	3,755		—			3,755		3,755		—			3,755
Total intangible assets	$	43,711	$	(24,537	)	$	19,174	$	43,625	$	(21,355	)	$	22,270

Amortization expense related to definite-lived intangible assets was approximately $1.1 billion and $1.5 billion for the three months ended November 1, 2019 and November 2, 2018, respectively, and $3.3 billion and $4.6 billion for the nine months ended November 1, 2019 and November 2, 2018, respectively. There were no material impairment charges related to intangible assets during the three months ended November 1, 2019 and November 2, 2018. Due to the adoption of the new lease standard discussed in Note 1 and Note 2 of the Notes to the Condensed Consolidated Financial Statements, the Company derecognized all intangible leasehold assets and adjusted the carrying amount of the ROU assets by a corresponding amount as of February 2, 2019.

The following table presents the estimated future annual pre-tax amortization expense of definite-lived intangible assets as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
2020 (remaining three months)	$	1,074
2021	3,431
2022	2,722
2023	1,838
2024	1,465
Thereafter	4,889
Total	$	15,419

DEFERRED REVENUE

9 Months Ended

Nov. 01, 2019

Revenue from Contract with Customer [Abstract]

DEFERRED REVENUE

NOTE 9 — DEFERRED REVENUE

Deferred Revenue — Deferred revenue is recorded for support and deployment services, software maintenance, professional services, training, and software-as-a-service when the Company has a right to invoice or payments have been received for undelivered products or services where transfer of control has not occurred. Revenue is recognized on these items when the revenue recognition criteria are met, generally resulting in ratable recognition over the contract term. The Company also has deferred revenue related to undelivered hardware and professional services, consisting of installations and consulting engagements, which are recognized as the Company’s performance obligations under the contract are completed.

The following table presents the changes in the Company’s deferred revenue for the periods indicated:



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	25,348		$	21,700		$	24,010		$	20,816
Revenue deferrals for new contracts and changes in estimates for pre-existing contracts (a) (b)	5,326			4,852			16,201			14,165
Revenue recognized (b)	(4,922		)	(4,409		)	(14,459		)	(12,838		)
Other (c)	151			—			151			—
Deferred revenue at end of period	$	25,903		$	22,143		$	25,903		$	22,143
Short-term deferred revenue	$	13,787		$	12,079		$	13,787		$	12,079
Long-term deferred revenue	$	12,116		$	10,064		$	12,116		$	10,064

____________________


(a)	Includes the impact of foreign currency exchange rate fluctuations.


(b)	The Company conformed the presentation of certain deferred revenue rollforward activity for the three and nine months ended November 2, 2018 to align current year presentation. The beginning and ending deferred revenue liability balances remain unchanged.

(c) Acquired deferred revenue from Carbon Black, Inc. by VMware, Inc. during the three months ended November 1, 2019. See Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information related to this acquisition.

Remaining Performance Obligations — Remaining performance obligations represent the aggregate amount of the transaction price allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include deferred revenue plus unbilled amounts not yet recorded in deferred revenue. The aggregate amount of the transaction price allocated to remaining performance obligations does not include amounts owed under cancelable contracts where there is no substantive termination penalty.

The Company applied the practical expedient to exclude the value of remaining performance obligations for contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. The Company also applied the practical expedient to not disclose the amount of transaction price allocated to remaining performance obligations for the periods prior to adoption of the new revenue standard.

Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidation, adjustments for revenue that have not materialized, and adjustments for currency.

The value of the transaction price allocated to remaining performance obligations as of November 1, 2019 was approximately $34 billion. The Company expects to recognize approximately 62% of remaining performance obligations as revenue in the next twelve months, and the remainder thereafter.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Nov. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 — COMMITMENTS AND CONTINGENCIES Legal Matters The Company is involved in various claims, suits, assessments, investigations, and legal proceedings that arise from time to time in the ordinary course of its business, including those identified below, consisting of matters involving consumer, antitrust, tax, intellectual property, and other issues on a global basis. The Company accrues a liability when it believes that it is both probable that a liability has been incurred and that it can reasonably estimate the amount of the loss. The Company reviews these accruals at least quarterly and adjusts them to reflect ongoing negotiations, settlements, rulings, advice of legal counsel, and other relevant information. To the extent new information is obtained and the Company’s views on the probable outcomes of claims, suits, assessments, investigations, or legal proceedings change, changes in the Company’s accrued liabilities would be recorded in the period in which such a determination is made. For some matters, the amount of liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. The following is a discussion of the Company’s significant legal matters and other proceedings: Securities Litigation — On May 21, 2014, a securities class action seeking compensatory damages was filed in the United States District Court for the Southern District of New York, captioned City of Pontiac General Employees’ Retirement System v. Dell Inc., et. al. (Case No. 1:14-cv-03644). The action names as defendants Dell Inc. (“Dell”) and certain current and former executive officers, and alleges that Dell made false and misleading statements about Dell’s financial results and future prospects between February 21, 2012 and May 22, 2012, which resulted in artificially inflated stock prices. The case was transferred to the United States District Court for the Western District of Texas under the same caption (Case No. 1:15-cv-00374), where the defendants filed a motion to dismiss. On September 16, 2016, the Court denied the motion to dismiss. On March 29, 2018, the Court granted the plaintiffs’ motion for class certification, and certified a class consisting of all purchasers of Dell common stock between February 22, 2012 and May 22, 2012. Fact and expert discovery is now closed. The parties have agreed to an immaterial settlement amount, and the Court has preliminarily approved the settlement. Notice of the settlement was mailed to shareholders in October 2019. Shareholders have until December 20, 2019 to opt out or object to the settlement. A hearing for the final approval of the settlement is set for January 10, 2020. Class Actions Related to the Class V Transaction — Four purported stockholders brought putative class action complaints arising out of the Class V transaction described in Note 14 of the Notes to the Condensed Consolidated Financial Statements. The actions were captioned Hallandale Beach Police and Fire Retirement Plan v. Michael Dell et al. (Civil Action No. 2018-0816-JTL), Howard Karp v. Michael Dell et al. (Civil Action No. 2019-0032-JTL), Miramar Police Officers’ Retirement Plan v. Michael Dell et al. (Civil Action No. 2019-0049-JTL), and Steamfitters Local 449 Pension Plan v. Michael Dell et al. (Civil Action No. 2019-0115-JTL). The four actions were consolidated into In Re Dell Class V Litigation (Consol. C.A. No. 2018-0816-JTL), which names as defendants the Company’s board of directors and certain stockholders of the Company, including Michael S. Dell. The plaintiffs generally allege that the defendants breached their fiduciary duties to the former holders of Class V Common Stock in connection with the Class V transaction by allegedly causing the Company to enter into a transaction that favored the interests of the controlling stockholders at the expense of such former stockholders. The plaintiffs filed an amended complaint on August 9, 2019 making substantially similar allegations to those described above. The defendants filed a motion to dismiss the action on September 30, 2019. The plaintiffs replied to the motion to dismiss on November 15, 2019, and the defendant’s reply is due December 13, 2019. A ruling on the pending motion is expected in early 2020. Copyright Levies — The Company is involved in various proceedings and negotiations regarding Dell’s obligation to collect and remit copyright levies in certain countries. The Company continues to collect levies in countries where it has determined that local laws require payment. The Company, along with other companies and/or industry associations, also continues to oppose levy schemes that do not comply with controlling law. The Company does not currently anticipate that any of these matters will have a material adverse effect on its business, financial condition, results of operations, or cash flows. Other Litigation — The various legal proceedings in which Dell is involved include commercial and intellectual property litigation. Dell does not currently anticipate that any of these matters will have a material adverse effect on its business, financial condition, results of operations, or cash flows. As of November 1, 2019, the Company does not believe there is a reasonable possibility that a material loss exceeding the amounts already accrued for these or other proceedings or matters has been incurred. However, since the ultimate resolution of any such proceedings and matters is inherently unpredictable, the Company’s business, financial condition, results of operations, or cash flows could be materially affected in any particular period by unfavorable outcomes in one or more of these proceedings or matters. Whether the outcome of any claim, suit, assessment, investigation, or legal proceeding, individually or collectively, could have a material adverse effect on the Company’s business, financial condition, results of operations, or cash flows will depend on a number of variables, including the nature, timing, and amount of any associated expenses, amounts paid in settlement, damages, or other remedies or consequences. Indemnifications In the ordinary course of business, the Company enters into contractual arrangements under which it may agree to indemnify the third party to such arrangements from any losses incurred relating to the services it performs on behalf of the Company or for losses arising from certain events as defined in the particular contract, such as litigation or claims relating to past performance. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments related to these indemnifications have not been material to the Company.

INCOME AND OTHER TAXES	9 Months Ended
INCOME AND OTHER TAXES	Nov. 01, 2019
Income Tax Disclosure [Abstract]
INCOME AND OTHER TAXES	INCOME AND OTHER TAXES For the three months ended November 1, 2019, the Company’s effective income tax rate benefit was 247.2% on pre-tax income of $159 million. For the three months ended November 2, 2018, the Company’s effective income tax rate was 10.1% on pre-tax losses of $1.0 billion. For the nine months ended November 1, 2019 and November 2, 2018, the Company’s effective income tax rates were 5482.1% and 9.2%, respectively, on pre-tax losses of $95 million and $2.1 billion, respectively. The changes in the Company’s effective tax rates are primarily driven by discrete tax items and a change in the Company’s jurisdictional mix of income. For the three and nine months ended November 1, 2019, the Company’s effective tax rate includes $305 million of discrete tax benefits related to an audit settlement. The Company’s effective tax rate for the nine months ended November 1, 2019 also includes $4.9 billion of discrete tax benefits related to intra-entity asset transfers described below, $273 million of discrete tax expense related to certain foreign tax credits associated with U.S. Tax Reform discussed below, and $95 million of discrete tax benefits relating to Virtustream impairment charges discussed in Note 8 of the Notes to the Condensed Consolidated Financial Statements. During the nine months ended November 1, 2019, the Company completed two intra-entity asset transfers of certain of its intellectual property to Irish subsidiaries, resulting in discrete tax benefits of $4.9 billion. The tax benefit for each intra-entity asset transfer was recorded as a deferred tax asset in the period of transaction and represents the book and tax basis difference on the transferred assets measured based on the applicable Irish statutory tax rate. The tax deductions for amortization of the assets will be recognized in the future, and any amortization not deducted for tax purposes will be carried forward indefinitely under Irish tax laws. The Company expects to be able to realize the deferred tax assets resulting from these intra-entity asset transfers. For the nine months ended November 2, 2018, the Company’s effective tax rate included $154 million of discrete tax benefits resulting from the impact of its adoption of the new revenue recognition standard during the three months ended May 4, 2018. The Tax Cuts and Jobs Act of 2017 (“U.S. Tax Reform”) was signed into law on December 22, 2017. Among other things, U.S. Tax Reform lowers the U.S. corporate income tax rate to 21% from 35%, establishes a modified territorial system requiring a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries, requires a minimum tax on certain future earnings generated by foreign subsidiaries while providing for future tax-free repatriation of earnings through a 100% dividends-received deduction, and places limitations on the deductibility of net interest expense. In December 2019, the U.S. Department of the Treasury released final and newly proposed regulations related to foreign tax credits and the base erosion anti-abuse tax. The Company is currently evaluating the impact of these regulations and will recognize any resulting adjustments as necessary. The Company anticipates that the U.S. Department of the Treasury and the Internal Revenue Service (“IRS”) will continue to issue regulatory guidance clarifying certain provisions of U.S. Tax Reform. When additional guidance is issued, the Company will recognize the related tax impact in the fiscal quarter of such issuance. The differences between the estimated effective income tax rates and the U.S. federal statutory rate of 21% principally result from the Company’s geographical distribution of income and differences between the book and tax treatment of certain items. In certain jurisdictions, the Company’s tax rate is significantly less than the applicable statutory rate as a result of tax holidays. The majority of the Company’s foreign income that is subject to these tax holidays and lower tax rates is attributable to Singapore, China, and Malaysia. A significant portion of these income tax benefits relates to a tax holiday that will be effective until January 31, 2029. The Company’s other tax holidays will expire in whole or in part during fiscal years 2022 through 2030. Many of these tax holidays and reduced tax rates may be extended when certain conditions are met or may be terminated early if certain conditions are not met. As of November 1, 2019, the Company was not aware of any matters of non-compliance related to these tax holidays. During the three months ended November 1, 2019, the Company made a cash payment of $438 million in settlement of the IRS audit for fiscal years 2007 through 2009. In May 2017, the IRS commenced a federal income tax audit for fiscal years 2010 through 2014, for which the Company received a Revenue Agent’s Report (“RAR”) in December 2019. The Company is currently evaluating the contents of the RAR. The Company believes it has valid positions supporting its tax returns and that it is adequately reserved. The Company is also currently under income tax audits in various state and foreign jurisdictions. The Company is undergoing negotiations, and in some cases contested proceedings, relating to tax matters with the taxing authorities in these jurisdictions. The Company believes that it has provided adequate reserves related to all matters contained in tax periods open to examination. Although the Company believes it has made adequate provisions for the uncertainties surrounding these audits, should the Company experience unfavorable outcomes, such outcomes could have a material impact on its results of operations, financial position, and cash flows. With respect to major U.S. state and foreign taxing jurisdictions, the Company is generally not subject to tax examinations for years prior to the fiscal year ended January 29, 2010. Judgment is required in evaluating the Company’s uncertain tax positions and determining the Company’s provision for income taxes. The unrecognized tax benefits were $2.7 billion and $3.4 billion as of November 1, 2019 and February 1, 2019, respectively, and are included in accrued and other and other non-current liabilities in the Condensed Consolidated Statements of Financial Position. The Company does not anticipate a significant change to the total amount of unrecognized tax benefits within the next twelve months. The Company takes certain non-income tax positions in the jurisdictions in which it operates and has received certain non-income tax assessments from various jurisdictions. The Company believes that a material loss in these matters is not probable and that it is not reasonably possible that a material loss exceeding amounts already accrued has been incurred. The Company believes its positions in these non-income tax litigation matters are supportable and that it ultimately will prevail in the matters. In the normal course of business, the Company’s positions and conclusions related to its non-income taxes could be challenged and assessments may be made. To the extent new information is obtained and the Company’s views on its positions, probable outcomes of assessments, or litigation change, changes in estimates to the Company’s accrued liabilities would be recorded in the period in which such a determination is made. In the resolution process for income tax and non-income tax audits, the Company is required in certain situations to provide collateral guarantees or indemnification to regulators and tax authorities until the matter is resolved.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Nov. 01, 2019

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 12 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) is presented in stockholders’ equity (deficit) in the Condensed Consolidated Statements of Financial Position and consists of amounts related to foreign currency translation adjustments, unrealized net gains (losses) on investments, unrealized net gains (losses) on cash flow hedges, and actuarial net gains (losses) from pension and other postretirement plans.

The following table presents changes in accumulated other comprehensive income (loss), net of tax, by the following components as of the dates indicated:



	Foreign Currency Translation Adjustments			Investments		Cash Flow Hedges			Pension and Other Postretirement Plans		Accumulated Other Comprehensive Income (Loss)
	(in millions)
Balances as of February 1, 2019	$	(452	)	$	—	$	(29	)	$	14	$	(467	)
Other comprehensive income (loss) before reclassifications	(186		)	—		210			8		32
Amounts reclassified from accumulated other comprehensive income (loss)	—			—		(197		)	—		(197		)
Total change for the period	(186		)	—		13			8		(165		)
Less: Change in comprehensive income (loss) attributable to non-controlling interests	—			—		—			—		—
Balances as of November 1, 2019	$	(638	)	$	—	$	(16	)	$	22	$	(632	)

Amounts related to investments are reclassified to net income (loss) when gains and losses are realized. See Note 3 of the Notes to the Condensed Consolidated Financial Statements for more information on the Company’s investments. Amounts related to the Company’s cash flow hedges are reclassified to net income during the same period in which the items being hedged are recognized in earnings. See Note 7 of the Notes to the Condensed Consolidated Financial Statements for more information on the Company’s derivative instruments.

The following table presents reclassifications out of accumulated other comprehensive income (loss), net of tax, to net income (loss) for the periods indicated:



	Three Months Ended
	November 1, 2019						November 2, 2018
	Investments		Cash Flow Hedges		Total		Investments		Cash Flow Hedges		Total
	(in millions)
Total reclassifications, net of tax:
Net revenue	$	—	$	71	$	71	$	—	$	76	$	76
Cost of net revenue	—		—		—		—		—		—
Interest and other, net	—		—		—		—		—		—
Total reclassifications, net of tax	$	—	$	71	$	71	$	—	$	76	$	76

	Nine Months Ended
	November 1, 2019						November 2, 2018
	Investments		Cash Flow Hedges		Total		Investments		Cash Flow Hedges		Total
	(in millions)
Total reclassifications, net of tax:
Net revenue	$	—	$	197	$	197	$	—	$	122	$	122
Cost of net revenue	—		—		—		—		—		—
Interest and other, net	—		—		—		1		—		1
Total reclassifications, net of tax	$	—	$	197	$	197	$	1	$	122	$	123

NON-CONTROLLING INTERESTS

9 Months Ended

Nov. 01, 2019

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTERESTS

NOTE 13 — NON-CONTROLLING INTERESTS

VMware, Inc. — The non-controlling interests’ share of equity in VMware, Inc. is reflected as a component of the non-controlling interests in the Condensed Consolidated Statements of Financial Position and was $4.5 billion and $3.8 billion as of November 1, 2019 and February 1, 2019, respectively. As of November 1, 2019 and February 1, 2019, the Company held approximately 80.7% and 80.5%, respectively, of the outstanding equity interest in VMware, Inc.

Pivotal — The non-controlling interests’ share of equity in Pivotal is reflected as a component of the non-controlling interests in the Condensed Consolidated Statements of Financial Position and was $1.1 billion and $1.0 billion as of November 1, 2019 and February 1, 2019, respectively. As of November 1, 2019 and February 1, 2019, the Company held approximately 59.4% and 62.8%, respectively, of the outstanding equity interest in Pivotal. On August 22, 2019, Pivotal entered into a definitive merger agreement pursuant to which it will be acquired by VMware, Inc..

Secureworks — The non-controlling interests’ share of equity in Secureworks is reflected as a component of the non-controlling interests in the Condensed Consolidated Statements of Financial Position and was $87 million as of November 1, 2019 and February 1, 2019. As of November 1, 2019 and February 1, 2019, the Company held approximately 86.9% and 87.4%, respectively, of the outstanding equity interest in Secureworks, excluding restricted stock awards (“RSAs”). As of November 1, 2019 and February 1, 2019, the Company held approximately 86.2% and 86.4%, respectively, of the outstanding equity interest in Secureworks, including RSAs.

The following table presents the effect of changes in the Company’s ownership interest in VMware, Inc., Pivotal, and Secureworks on the Company’s equity for the period indicated:



	Nine Months Ended
	November 1, 2019
	(in millions)
Net income attributable to Dell Technologies Inc.	$	4,208
Transfers (to)/from the non-controlling interests:
Increase in Dell Technologies Inc. additional paid-in-capital for equity issuances and other equity activity	616
Decrease in Dell Technologies Inc. additional paid-in-capital and accumulated deficit for equity issuances and other equity activity	(1,278		)
Net transfers to non-controlling interests	(662		)
Change from net income attributable to Dell Technologies Inc. and transfers to the non-controlling interests	$	3,546

CAPITALIZATION

9 Months Ended

Nov. 01, 2019

Equity [Abstract]

CAPITALIZATION

NOTE 14 — CAPITALIZATION

The following table presents the Company’s authorized, issued, and outstanding common stock as of the dates indicated:



	Authorized	Issued	Outstanding
	(in millions)
Common stock as of November 1, 2019
Class A	600	374	374
Class B	200	119	119
Class C	7,900	238	236
Class D	100	—	—
Class V	343	—	—
	9,143	731	729

Common stock as of February 1, 2019
Class A	600	410	410
Class B	200	137	137
Class C	7,900	174	172
Class D	100	—	—
Class V	343	—	—
	9,143	721	719

Under the Company’s certificate of incorporation as amended and restated upon the completion of the Class V transaction described below, the Company is prohibited from issuing any of the authorized shares of Class V Common Stock.

Preferred Stock

The Company is authorized to issue one million shares of preferred stock, par value $0.01 per share. As of November 1, 2019 and February 1, 2019, no shares of preferred stock were issued or outstanding.

Common Stock

Common Stock for Fiscal 2020 and Thereafter

Dell Technologies Common Stock — For fiscal periods beginning with the first quarter of Fiscal 2020, the Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock, formerly collectively referred to as the DHI Group Common Stock, are collectively referred to as Dell Technologies Common Stock. The redesignation of such classes of common stock from DHI Group Common Stock to Dell Technologies Common Stock is intended to align the Company’s reporting with how such classes are referred to by securities analysts, investors, and other users of the financial statements since the completion on December 28, 2018 of the Class V transaction described below. As a result of the cancellation of all outstanding Class V Common Stock upon the closing of that transaction, there is no requirement after the fourth quarter of Fiscal 2019 to allocate net income (loss) between two separate groups of common stock denoted the DHI Group Common Stock and the Class V Common Stock or to report earnings (loss) per share for each such group. Accordingly, net income (loss), earnings (loss) per share and other relevant information are reported for Dell Technologies Common Stock for all fiscal periods beginning with the first quarter of Fiscal 2020 and, because of lack of comparability with the new reporting, are reported separately for the DHI Group and the Class V Common Stock, as applicable, for prior fiscal periods. The par value for all classes of Dell Technologies Common Stock is $0.01 per share. The Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock share equally in dividends declared or accumulated and have equal participation rights in undistributed earnings.

Common Stock prior to Fiscal 2020

DHI Group Common Stock and DHI Group — For the fiscal periods prior to the first quarter of Fiscal 2020, the Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock were collectively referred to as the DHI Group Common Stock. All classes of DHI Group Common Stock have a par value of $0.01 per share and the Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock share equally in dividends declared or accumulated and have equal participation rights in undistributed earnings. Prior to the completion on December 28, 2018 of the Class V transaction, the DHI Group referred to the direct and indirect interest of Dell Technologies in all of Dell Technologies’ business, assets, properties, liabilities, and preferred stock other than those attributable to the Class V Group, as well as the DHI Group’s retained interest in the Class V Group. Subsequent to the completion of the Class V transaction, the DHI Group refers to all classes of issued and outstanding DHI Group Common Stock.

Class V Common Stock and Class V Group — The Class V Common Stock was a class of common stock intended to track the performance of a portion of Dell Technologies’ economic interest in the Class V Group. The Class V Group consisted solely of VMware, Inc. common stock held by the Company. As of November 1, 2019, no shares of Class V Common Stock were outstanding.

Voting Rights — Each holder of record of (a) Class A Common Stock is entitled to ten votes per share of Class A Common Stock; (b) Class B Common Stock is entitled to ten votes per share of Class B Common Stock; (c) Class C Common Stock is entitled to one vote per share of Class C Common Stock; and (d) Class D Common Stock is not entitled to any vote on any matter except to the extent required by provisions of Delaware law (in which case such holder is entitled to one vote per share of Class D Common Stock).

Conversion Rights — Under the Company’s certificate of incorporation, at any time and from time to time, any holder of Class A Common Stock or Class B Common Stock has the right to convert all or any of the shares of Class A Common Stock or Class B Common Stock, as applicable, held by such holder into shares of Class C Common Stock on a one-to-one basis. During the nine months ended November 1, 2019, the Company issued 35,749,396 shares of Class C Common Stock to stockholders upon their conversion of the same number of shares of Class A Common Stock into Class C Common Stock in accordance with the Company’s certificate of incorporation. During the nine months ended November 1, 2019, the Company issued 17,650,820 shares of Class C Common Stock to stockholders upon their conversion of the same number of shares of Class B Common Stock into Class C Common Stock in accordance with the Company’s certificate of incorporation.

Class V Transaction

On December 28, 2018, the Company completed a transaction (the “Class V transaction”) in which it paid $14.0 billion in cash and issued 149,387,617 shares of its Class C Common Stock to holders of the Class V Common Stock in exchange for all outstanding shares of Class V Common Stock. The non-cash consideration portion of the Class V transaction totaled $6.9 billion. As a result of the Class V transaction, the tracking stock feature of the Company’s capital structure associated with the Class V Common Stock was terminated. The Class C Common Stock is traded on the New York Stock Exchange.

The aggregate cash consideration and the fees and expenses incurred in connection with the Class V transaction were funded with proceeds of $3.67 billion from new term loans under the Company’s senior secured credit facilities, proceeds of a margin loan financing in an aggregate principal amount of $1.35 billion, proceeds of the Company’s pro-rata portion, in the amount of $8.87 billion, of a special $11 billion cash dividend paid by VMware, Inc. in connection with the Class V transaction, and cash on hand at Dell Technologies and its subsidiaries. See Note 6 of the Notes to the Condensed Consolidated Financial Statements for information about the debt incurred by the Company to finance the Class V transaction.

The merger pursuant to which the Class V transaction was effected and the Class V transaction have been accounted for as a hybrid liability and equity transaction involving the repurchase of outstanding common stock, with the consideration consisting of a variable combination of cash and shares. Upon settlement, the accounting for the Class V transaction reflected that the outstanding Class V Common Stock was canceled and exchanged for shares of Class C Common Stock or $120.00 per share in cash or combination of cash and shares, depending on each holder’s election and subject to proration of the cash elections. The variable nature of the cash obligation to repurchase the shares of Class V Common Stock required the Company to settle a portion of the shares in exchange for cash and therefore was accounted for as a financial instrument with an immaterial mark-to-market adjustment for the change in fair value from the date of the stockholder meeting at which the Company’s stockholders voted to approve the Class V transaction to the election deadline by which holders of Class V Common Stock elected the form of consideration for which they exchanged their shares.

Repurchases of Common Stock

VMware, Inc. Class A Common Stock Repurchases by VMware, Inc.

On May 29, 2019, VMware, Inc.’s board of directors authorized the repurchase of an additional $1.5 billion of VMware, Inc.’s Class A common stock. Since the date of the EMC merger transaction, VMware, Inc.’s board of directors has authorized total repurchases of $3.7 billion, of which $1.1 billion remained available as of November 1, 2019. During the nine months ended November 1, 2019, VMware, Inc. repurchased 7.3 million shares of its Class A common stock in the open market for approximately $1.3 billion, of which approximately $0.2 billion impacted Dell Technologies’ accumulated deficit balance as of November 1, 2019 as a result of the periodic depletion of VMware, Inc.’s additional paid-in capital balance. During the nine months ended November 2, 2018, VMware, Inc. did not repurchase any shares of its Class A common stock.

All shares repurchased under VMware, Inc.’s stock repurchase programs are retired.

EARNINGS (LOSS) PER SHARE

9 Months Ended

Nov. 01, 2019

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 15 — EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net income (loss) by the weighted-average shares outstanding during the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted-average number of common shares used in the basic earnings (loss) per share calculation plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive instruments. The Company excludes equity instruments from the calculation of diluted earnings (loss) per share if the effect of including such instruments is antidilutive.

Until the completion on December 28, 2018 of the Class V transaction described in Note 14 of the Notes to the Condensed Consolidated Financial Statements, the Company had two groups of common stock, denoted as the DHI Group Common Stock and the Class V Common Stock.

The Class V Common Stock was a class of common stock intended to track the economic performance of 61% of the Company’s interest in the Class V Group, which consisted solely of VMware, Inc. common stock held by the Company. Upon the completion of the Class V transaction, all outstanding shares of Class V Common Stock ceased to be outstanding, and the tracking stock structure was terminated. The Class C Common Stock issued to former holders of the Class V Common Stock in the Class V transaction represents an interest in the Company’s entire business and, unlike the Class V Common Stock, is not intended to track the performance of any distinct assets or business.

Prior to Fiscal 2020, the DHI Group Common Stock consists of the Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock. The DHI Group referred to the direct and indirect interest of Dell Technologies in all of Dell Technologies’ business, assets, properties, liabilities, and preferred stock other than those attributable to the Class V Group, as well as the DHI Group’s retained interest in the Class V Group.

For fiscal periods beginning with the first quarter of Fiscal 2020, the Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock, formerly collectively referred to as the DHI Group Common Stock, are collectively referred to as Dell Technologies Common Stock. The redesignation of such classes of common stock from DHI Group Common Stock to Dell Technologies Common Stock is intended to align the Company’s reporting with how such classes are referred to by securities analysts, investors, and other users of the financial statements since the completion of the Class V transaction. As a result of the cancellation of all outstanding Class V Common Stock upon the closing of that transaction, there is no requirement after the fourth quarter of Fiscal 2019 to allocate net income (loss) between two separate groups of common stock denoted DHI Group Common Stock and the Class V Common Stock or to report earnings (loss) per share measures for each such group. Accordingly, net income (loss), earnings (loss) per share and other relevant information are reported for Dell Technologies Common Stock for all fiscal periods beginning with the first quarter of Fiscal 2020 and, because of the lack of comparability with the new reporting, are reported separately for the DHI Group and the Class V Common Stock, as applicable, for prior fiscal periods.

For purposes of calculating earnings (loss) per share, the Company uses the two-class method. As all classes of Dell Technologies Common Stock and DHI Group Common Stock share the same rights in dividends, basic and diluted earnings (loss) per share are the same for each class of both Dell Technologies Common Stock and DHI Group Common Stock.

The following table presents the basic and diluted earnings (loss) per share for the periods indicated:



	Three Months Ended					Nine Months Ended
	November 1, 2019		November 2, 2018			November 1, 2019		November 2, 2018
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Dell Technologies Common Stock	$	0.69				$	5.84
Class V Common Stock			$	0.83				$	4.80
DHI Group			$	(1.84	)			$	(5.23	)

Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Dell Technologies Common Stock	$	0.66				$	5.50
Class V Common Stock			$	0.81				$	4.72
DHI Group			$	(1.84	)			$	(5.25	)

The following table presents the computation of basic and diluted earnings (loss) per share for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 1, 2019			November 1, 2019
	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies - basic	$	499		$	4,208
Incremental dilution from VMware, Inc. attributable to Dell Technologies (a)	(6		)	(81		)
Net income attributable to Dell Technologies - diluted	$	493		$	4,127

Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding - basic	725			720
Dilutive effect of options, restricted stock units, restricted stock, and other	25			30
Weighted-average shares outstanding - diluted	750			750
Weighted-average shares outstanding - antidilutive	—			—

____________________

(a)

The incremental dilution from VMware, Inc. represents the impact of VMware, Inc.’s dilutive securities on diluted earnings (loss) per share of Dell Technologies Common Stock, and is calculated by multiplying the difference between VMware, Inc.’s basic and diluted earnings (loss) per share by the number of shares of VMware, Inc. common stock held by the Company. There is no incremental dilution from Pivotal and Secureworks due to the net loss position of these entities for the periods presented.

The following table presents the computation of basic and diluted earnings (loss) per share prior to Fiscal 2020 for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 2, 2018			November 2, 2018
	(in millions)
Numerator: Class V Common Stock
Net income attributable to Class V Common Stock - basic	$	165		$	955
Incremental dilution from VMware, Inc. attributable to Class V Common Stock (a)	(3		)	(15		)
Net income attributable to Class V Common Stock - diluted	$	162		$	940

Numerator: DHI Group
Net loss attributable to DHI Group - basic	$	(1,041	)	$	(2,966	)
Incremental dilution from VMware, Inc. attributable to DHI Group (a)	(1		)	(9		)
Net loss attributable to DHI Group - diluted	$	(1,042	)	$	(2,975	)

Denominator: Class V Common Stock weighted-average shares outstanding
Weighted-average shares outstanding - basic	199			199
Dilutive effect of options, restricted stock units, restricted stock, and other (b)	—			—
Weighted-average shares outstanding - diluted	199			199
Weighted-average shares outstanding - antidilutive (b)	—			—

Denominator: DHI Group weighted-average shares outstanding
Weighted-average shares outstanding - basic	567			567
Dilutive effect of options, restricted stock units, restricted stock, and other	—			—
Weighted-average shares outstanding - diluted	567			567
Weighted-average shares outstanding - antidilutive (c)	46			47

____________________


(a)	The incremental dilution from VMware, Inc. represents the impact of VMware, Inc.’s dilutive securities on the diluted earnings (loss) per share of the DHI Group and the Class V Common Stock, respectively, and is calculated by multiplying the difference between VMware, Inc.’s basic and diluted earnings (loss) per share by the number of shares of VMware, Inc. common stock held by the Company.


(b)	The dilutive effect of Class V Common Stock-based incentive awards was not material to the calculation of the weighted-average Class V Common Stock shares outstanding. The antidilutive effect of these awards was also not material.


(c)	Stock-based incentive awards have been excluded from the calculation of the DHI Group’s diluted loss per share because their effect would have been antidilutive, as the Company had a net loss as to the DHI Group for the periods presented.

The following table presents a reconciliation to the consolidated net loss attributable to Dell Technologies Inc. prior to Fiscal 2020 for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 2, 2018			November 2, 2018
	(in millions)
Net income attributable to Class V Common Stock (a)	$	165		$	955
Net loss attributable to DHI Group	(1,041		)	(2,966		)
Net loss attributable to Dell Technologies Inc.	$	(876	)	$	(2,011	)

____________________

(a)

See Exhibit 99.1 filed with the Company’s Quarterly Report on Form 10-Q for the quarterly period ended November 2, 2018 for a reconciliation of VMware net income to net income attributable to Class V Common Stock.

STOCK-BASED COMPENSATION

9 Months Ended

Nov. 01, 2019

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 16 — STOCK-BASED COMPENSATION

Dell Technologies Inc. 2013 Stock Incentive Plan (As Amended and Restated as of July, 9, 2019) — During the nine months ended November 1, 2019, the Company’s stockholders approved an amendment to the Dell Technologies Inc. 2013 Stock Incentive Plan (the “Plan”) to authorize an additional 35 million shares of Class C Common Stock for issuance pursuant to the Plan. Upon effectiveness of the amendment, a total of 110.5 million shares of Class C Common Stock are authorized for issuance. As of November 1, 2019, there were 55 million shares of Class C Common Stock available for future grants under the Plan.

Restricted Stock Units — During the nine months ended November 1, 2019, the Company granted long-term incentive awards in the form of 10.5 million service-based restricted stock units (“RSUs”) and 1.9 million performance-based RSUs in order to align critical talent retention programs with the interests of holders of the Class C Common Stock.

The service-based RSUs have a fair value based on the closing price of the Class C Common Stock price as reported on the New York Stock Exchange (“NYSE”) on the grant date. Most of such RSUs vest ratably over a three-year period. Each service-based RSU represents the right to acquire one share of Class C Common Stock upon vesting.

The performance-based RSUs are reflected at target units while the actual number of units that ultimately vest will range from 0% to 200% of target, based on the level of achievement of the performance goals and continued employment with the Company over a performance period ending March 14, 2022. Approximately 0.9 million of the performance-based RSUs are subject to achievement of market-based performance goals based on relative total shareholder return. For the non-market performance-based RSUs, the fair values will be based on the closing price of the Class C Common Stock as reported on the NYSE on the accounting grant date. For the nine months ended November 1, 2019, approximately one-third of the non-market performance awards have been valued and are considered outstanding for accounting purposes. Market-based performance awards utilized a Monte Carlo valuation model to simulate the probabilities of achievement of relative total shareholder return in order to determine the awards’ fair value.

The following table presents the assumptions utilized in the valuation model for the period indicated:



	Nine Months Ended
	November 1, 2019
Weighted-average grant date fair value	$	87.17
Expected term (in years)	3.0
Risk-free rate (U.S. Government Treasury Note)	2.4		%
Expected volatility	45		%
Expected dividend yield	—		%

As of November 1, 2019, 15 million RSUs were outstanding, of which 5 million RSUs were subject to performance conditions. The awards outstanding have a weighted-average grant date fair value of $50.79 per share and an aggregate intrinsic value of $804 million based on the closing price of the Class C Common Stock as reported on the NYSE on November 1, 2019. As of November 1, 2019, there was $475 million of unrecognized stock-based compensation expense, net of estimated forfeitures, related to these awards expected to be recognized over a weighted-average period of approximately 2.3 years.

Stock Options - Of the 42 million stock options outstanding as of February 1, 2019, 10 million were exercised under the Plan during the nine months ended November 1, 2019 with a weighted-average exercise price of $16.09. Cash proceeds were $157 million and the pre-tax intrinsic value of the options exercised was $355 million during the nine months ended November 1, 2019.

REDEEMABLE SHARES

9 Months Ended

Nov. 01, 2019

Temporary Equity Disclosure [Abstract]

REDEEMABLE SHARES

NOTE 17 — REDEEMABLE SHARES

Awards under the Company’s stock incentive plans include certain rights that allow the holder to exercise a put feature for the underlying Class A or Class C Common Stock after a six month holding period following the issuance of such common stock. The put feature requires the Company to purchase the stock at its fair market value. Accordingly, these awards and such common stock are subject to reclassification from equity to temporary equity, and the Company determines the award amounts to be classified as temporary equity as follows:


•	For stock options to purchase Class C Common Stock subject to service requirements, the intrinsic value of the option is multiplied by the portion of the option for which services have been rendered. Upon exercise of the option, the amount in temporary equity represents the fair value of the Class C Common Stock.


•	For stock appreciation rights, RSUs, or RSAs, any of which stock award types are subject to service requirements, the fair value of the share is multiplied by the portion of the share for which services have been rendered.


•	For share-based arrangements that are subject to the occurrence of a contingent event, those amounts are reclassified to temporary equity based on a probability assessment performed by the Company on a periodic basis. Contingent events include the achievement of performance-based metrics.

In connection with the Class V transaction described in Note 14 of the Notes to the Condensed Consolidated Financial Statements, the put feature provisions were amended to provide that the put feature applicable to transfers of Dell Technologies securities will terminate upon the earlier of two years after the expiration on June 27, 2019 of the post-transaction lock-up or consummation of any underwritten public offering of shares of Class C Common Stock.

The following table presents the amount of redeemable shares classified as temporary equity and summarizes the award type as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Redeemable shares classified as temporary equity	$	934	$	1,196

Issued and outstanding unrestricted common shares	2		3
Restricted stock units	1		1
Restricted stock awards	—		—
Outstanding stock options	21		31

The decrease in the value of redeemable shares during the nine months ended November 1, 2019 was primarily attributable to a decrease in Class C Common Stock fair value, reassessment of vesting probability for performance-based awards and a reduction in the number of shares eligible for put rights as market sales of shares occur.

SEGMENT INFORMATION

9 Months Ended

Nov. 01, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 18 — SEGMENT INFORMATION

The Company has three reportable segments that are based on the following business units: Infrastructure Solutions Group (“ISG”); Client Solutions Group (“CSG”); and VMware.

ISG enables the digital transformation of the Company’s customers through its trusted multi-cloud and big data solutions, which are built upon a modern data center infrastructure. The ISG comprehensive portfolio of advanced storage solutions includes traditional storage solutions as well as next-generation storage solutions (such as all-flash arrays, scale-out file, object platforms, and software-defined solutions), while the Company’s server portfolio includes high-performance rack, blade, tower, and hyperscale servers. The ISG networking portfolio helps business customers transform and modernize their infrastructure, mobilize and enrich end-user experiences, and accelerate business applications and processes. ISG also offers attached software, peripherals, and services, including support and deployment, configuration, and extended warranty services.

CSG includes sales to commercial and consumer customers of branded hardware (such as desktops, workstations, and notebooks) and branded peripherals (such as displays and projectors), as well as services and third-party software and peripherals. CSG also offers attached software, peripherals, and services, including support and deployment, configuration, and extended warranty services.

VMware works with customers in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces, helping customers manage their IT resources across private clouds and complex multi-cloud, multi-device environments. VMware solutions provide a flexible digital foundation to enable the digital transformation of VMware’s customers as they ready their applications, infrastructure, and devices for their future business needs.

On August 22, 2019, Pivotal entered into a definitive merger agreement pursuant to which it will be acquired by VMware, Inc. The merger is expected to be completed during the fourth quarter of Fiscal 2020 and will be accounted for as a transaction by entities under common control. This transaction will require retrospective combination of the VMware, Inc. and Pivotal entities for all periods presented, as if the combination had been in effect since the inception of common control. Upon the completion of the merger, the Company will report Pivotal results within the VMware reportable segment, rather than in Other businesses. This change in the segment reporting structure will be reflected as a recast of prior period segment results.

The reportable segments disclosed herein are based on information reviewed by the Company’s management to evaluate the business segment results. The Company’s measure of segment operating income for management reporting purposes excludes the impact of Other businesses, purchase accounting, amortization of intangible assets, unallocated corporate transactions, other corporate expenses, stock-based compensation expense, and transaction-related expenses. The Company does not allocate assets to the above reportable segments for internal reporting purposes.

The following table presents a reconciliation of net revenue by the Company’s reportable segments to the Company’s consolidated net revenue as well as a reconciliation of consolidated segment operating income to the Company’s consolidated operating income (loss) for the periods indicated:



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	8,390		$	8,937		$	25,213		$	26,831
Client Solutions Group	11,410			10,905			34,068			32,304
VMware	2,483			2,229			7,231			6,451
Reportable segment net revenue	22,283			22,071			66,512			65,586
Other businesses (a)	644			583			1,859			1,736
Unallocated transactions (b)	1			(3		)	1			(6		)
Impact of purchase accounting (c)	(84		)	(169		)	(250		)	(536		)
Total consolidated net revenue	$	22,844		$	22,482		$	68,122		$	66,780

Consolidated operating income (loss):
Infrastructure Solutions Group	$	996		$	935		$	2,889		$	2,886
Client Solutions Group	739			447			2,514			1,405
VMware	717			768			2,093			2,117
Reportable segment operating income	2,452			2,150			7,496			6,408
Other businesses (a)	(8		)	(40		)	(86		)	(139		)
Unallocated transactions (b)	(2		)	(46		)	(29		)	(71		)
Impact of purchase accounting (c)	(96		)	(193		)	(299		)	(630		)
Amortization of intangibles	(1,057		)	(1,546		)	(3,334		)	(4,594		)
Transaction-related expenses (d)	(76		)	(167		)	(165		)	(437		)
Stock-based compensation expense (e)	(322		)	(256		)	(886		)	(671		)
Other corporate expenses (f)	(55		)	(258		)	(792		)	(388		)
Total consolidated operating income (loss)	$	836		$	(356	)	$	1,905		$	(522	)

____________________


(a)	Pivotal, Secureworks, RSA Security, Virtustream, and Boomi constitute “Other businesses” and do not meet the requirements for a reportable segment, either individually or collectively. The results of Other businesses are not material to the Company’s overall results.


(b)	Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.


(c)	Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.


(d)	Transaction-related expenses includes acquisition, integration, and divestiture related costs, as well as the costs incurred in the Class V transaction.


(e)	Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.


(f)	Other corporate expenses includes impairment charges and severance, facility action, and other costs. See Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information on Virtustream impairment charges.

The following table presents the disaggregation of net revenue by reportable segment, and by major product categories within the segments for the periods indicated:



	Three Months Ended				Nine Months Ended
	November 1, 2019		November 2, 2018		November 1, 2019		November 2, 2018
	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	4,241	$	5,054	$	12,858	$	14,700
Storage	4,149		3,883		12,355		12,131
Total ISG net revenue	8,390		8,937		25,213		26,831
Client Solutions Group:
Commercial	8,330		7,613		25,714		23,085
Consumer	3,080		3,292		8,354		9,219
Total CSG net revenue	11,410		10,905		34,068		32,304
VMware:
Total VMware net revenue	2,483		2,229		7,231		6,451
Total segment net revenue	$	22,283	$	22,071	$	66,512	$	65,586

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

9 Months Ended

Nov. 01, 2019

Condensed Financial Information Disclosure [Abstract]

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

NOTE 19 — SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

The following table presents additional information on selected accounts included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	8,555	$	9,676
Restricted cash - other current assets (a)	654		522
Restricted cash - other non-current assets (a)	132		42
Total cash, cash equivalents, and restricted cash	$	9,341	$	10,240
Inventories, net:
Production materials	$	1,491	$	1,794
Work-in-process	615		702
Finished goods	1,151		1,153
Total inventories, net	$	3,257	$	3,649
Other non-current liabilities:
Warranty liability	$	169	$	169
Deferred and other tax liabilities	3,972		5,527
Non-current operating lease liabilities	1,336		—
Other	628		631
Total other non-current liabilities	$	6,105	$	6,327

____________________


(a)	Restricted cash primarily includes cash required to be held in escrow pursuant to DFS securitization arrangements and VMware, Inc. restricted cash.

Warranty Liability

The following table presents changes in the Company’s liability for standard limited warranties for the periods indicated:



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	525		$	542		$	524		$	539
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a) (b)	211			226			651			656
Service obligations honored	(216		)	(245		)	(655		)	(672		)
Warranty liability at end of period	$	520		$	523		$	520		$	523
Current portion	$	351		$	354		$	351		$	354
Non-current portion	$	169		$	169		$	169		$	169

____________________


(a)	Changes in cost estimates related to pre-existing warranties are aggregated with accruals for new standard warranty contracts. The Company’s warranty liability process does not differentiate between estimates made for pre-existing warranties and new warranty obligations.

(b)

Includes the impact of foreign currency exchange rate fluctuations.

INTERIM UPDATE TO SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Nov. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation and EMC Merger Transaction	References in these Notes to the Condensed Consolidated Financial Statements to the “Company” or “Dell Technologies” mean Dell Technologies Inc. individually and together with its consolidated subsidiaries. EMC Merger Transaction — On September 7, 2016, the Company completed its acquisition of EMC Corporation (“EMC”) by merger (the “EMC merger transaction”). The consolidated results of EMC are included in Dell Technologies’ consolidated results presented in these financial statements.
Basis of Presentation	Basis of Presentation — The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes filed with the U.S. Securities and Exchange Commission (“SEC”) in the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2019. These Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the accompanying Condensed Consolidated Financial Statements reflect all adjustments of a normal recurring nature considered necessary to fairly state the financial position of Dell Technologies Inc. as of November 1, 2019 and February 1, 2019, the results of its operations and corresponding comprehensive income (loss) for the three and nine months ended November 1, 2019 and November 2, 2018, and its cash flows for the nine months ended November 1, 2019 and November 2, 2018.
Use of Estimates	The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and the accompanying Notes. Actual results could differ materially from those estimates. The results of operations and comprehensive income (loss) for the three and nine months ended November 1, 2019 and November 2, 2018 and the cash flows for the nine months ended November 1, 2019 and November 2, 2018 are not necessarily indicative of the results to be expected for the full fiscal year or for any other fiscal period.
Fiscal Period	The Company’s fiscal year is the 52- or 53-week period ending on the Friday nearest January 31. The fiscal year ended February 1, 2019 (“Fiscal 2019”) was a 52-week period, and the fiscal year ending January 31, 2020 (“Fiscal 2020”) will be a 52-week period.
Principles of Consolidation	Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies and its wholly-owned subsidiaries, as well as the accounts of VMware, Inc., Pivotal Software, Inc. (“Pivotal”), and SecureWorks Corp. (“Secureworks”), each of which is majority-owned by Dell Technologies. All intercompany transactions have been eliminated.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements Measurement of Credit Losses on Financial Instruments — In June 2016, the Financial Accounting Standards Board (“FASB”) issued amended guidance which replaces the current incurred loss impairment methodology for measurement of credit losses on financial instruments with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal periods beginning after December 15, 2018. The Company is currently evaluating the impact that the standard will have on the Consolidated Financial Statements. Intangibles - Goodwill and Other - Internal-Use Software — In August 2018, the FASB issued guidance on a customer’s accounting for implementation costs incurred in a cloud-computing arrangement when hosted by a vendor. In a hosting arrangement that is a service contract, certain implementation costs should be capitalized and amortized over the term of the arrangement. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal periods beginning after December 15, 2018. The Company does not expect the adoption of this guidance to have a material impact on the Consolidated Financial Statements. Recently Adopted Accounting Pronouncements Leases — In February 2016, the FASB issued amended guidance on the accounting for leasing transactions. The primary objective of this update is to increase transparency and comparability among organizations by requiring lessees to recognize a lease liability for the obligation to make lease payments and a right-of-use (“ROU”) asset for the right to use the underlying asset for the lease term. The guidance also results in some changes to lessor accounting and requires additional disclosures about all leasing arrangements. The Company adopted the standard (the “new lease standard”) as of February 2, 2019 using the modified retrospective approach, with the cumulative-effect adjustment to the opening balance of stockholders’ equity (deficit) as of the adoption date. The Company elected to apply the practical expedient using the transition option whereby prior comparative periods were not retrospectively adjusted in the Consolidated Financial Statements. Accordingly, prior comparative periods have not been adjusted in the Condensed Consolidated Financial Statements. The Company also elected the package of practical expedients which does not require reassessment of initial direct costs, classification of a lease, and definition of a lease. The adoption of the new lease standard resulted in the recognition of $1.6 billion in operating lease liabilities and related ROU assets on the Consolidated Statements of Financial Position. The Company recorded an immaterial adjustment to stockholders’ equity (deficit) as of February 2, 2019 to reflect the cumulative effect of adoption of the new lease standard. As of February 2, 2019, there were no material finance leases for which the Company was a lessee. In the area of lessor accounting, as of February 2, 2019, the Company began to originate operating leases due to the elimination of third-party residual value guarantee insurance from the sales-type lease classification test. Leases that commenced prior to the adoption of the new lease standard were not reassessed or restated pursuant to the practical expedients elected. Accordingly, there was no cumulative adjustment to stockholders’ equity (deficit) related to lessor accounting. See Note 4 and Note 5 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s leases from a lessor and lessee perspective, respectively.
Accounting for Operating Leases as a Lessee	Accounting for Operating Leases as a Lessee — In its ordinary course of business, the Company enters into leases as a lessee for office buildings, warehouses, employee vehicles, and equipment. The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases result in the recognition of ROU assets and lease liabilities on the Consolidated Statements of Financial Position. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. At lease inception, the lease liability is measured at the present value of the lease payments over the lease term. The operating lease ROU asset equals the lease liability adjusted for any initial direct costs, prepaid or deferred rent, and lease incentives. The Company uses the implicit rate when readily determinable. As most of the leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of lease payments. Incremental borrowing rates used to determine the present value of lease payments were derived by reference to the Company’s secured-debt yields corresponding to the lease commencement date. The lease term may include options to extend or to terminate the lease that the Company is reasonably certain to exercise. Lease expense is recognized on a straight-line basis over the lease term in most instances. The Company has elected not to record leases with an initial term of 12 months or less on the Consolidated Statements of Financial Position. Lease expense on such leases is recognized on a straight-line basis over the lease term. The Company does not generate material sublease income and has no material related party leases. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s office building agreements contain costs such as common area maintenance and other executory costs that are variable in nature. Variable lease costs are expensed as incurred. The Company combines lease and non-lease components, such as common area and other maintenance costs, in calculating the ROU assets and lease liabilities for its office buildings and employee vehicles. Under certain service agreements with third-party logistics providers, the Company directs the use of the inventory within the warehouses and, therefore, controls the assets. The warehouses and some of the equipment used are considered embedded leases. The Company accounts for the lease and non-lease components separately. The lease components consist of the warehouses and some of the equipment, such as conveyor belts. The non-lease components consist of services and other shared equipment, such as material handling and transportation. The Company allocates the consideration to the lease and non-lease components using their relative standalone values.
Accounting for Operating Leases as a Lessor	Accounting for Leases as a Lessor — The Company’s wholly-owned subsidiary Dell Financial Services and its affiliates (“DFS”) acts as a lessor to provide equipment financing to customers through a variety of lease arrangements (“DFS leases”). Subsequent to the adoption of the new lease standard, new DFS leases are classified as sales-type leases, direct financing leases, or operating leases. Direct financing leases under the new lease standard are immaterial. Leases that commenced prior to the adoption of the new lease standard were not reassessed or restated pursuant to the practical expedients elected and will continue to be accounted for under previous lease accounting guidance. When a contract includes lease and non-lease components, DFS allocates consideration under the contract to each component based on relative standalone selling price. Whenever the terms of the lease transfer control to the lessee, the contract is typically classified as a sales-type lease. Through these arrangements, the lessee has the right to substantially all of the economic benefits from use of the identified asset and has the right to direct the use of such asset during the period of use. In many arrangements, the lessee also retains ownership at the end of the lease term. On commencement of sales-type leases, the Company recognizes profit up-front, and amounts due from the customer under the lease contract are recognized as financing receivables on the Consolidated Statements of Financial Position. Interest income is recognized as Net revenue over the term of the lease based on the effective interest method. For sales and other taxes collected from the lessee, the Company has elected not to include such taxes as part of lease revenue. All other leases which do not meet the definition of a sales-type lease or direct financing lease are classified as operating leases. The underlying asset in an operating lease arrangement is carried at depreciated cost as “Equipment under operating leases” within Property, plant, and equipment, net on the Consolidated Statements of Financial Position. Depreciation is calculated using the straight-line method over the term of the underlying lease contract and is recognized as Cost of net revenue. The depreciable basis is the original cost of the equipment less the estimated residual value of the equipment at the end of the lease term. The Company recognizes operating lease revenue on a straight-line basis over the lease term and expenses deferred initial direct costs on the same basis. Impairment of equipment under operating leases is assessed on the same basis as other long-lived assets. DFS provides lessees with the option to extend the lease or purchase the underlying asset at the end of the lease term, which is considered when evaluating lease classification. In general, DFS’s lease arrangements do not have variable payment terms and are non-cancelable.
Financing Receivables	Financing Receivables — Financing receivables are presented net of allowance for losses and consist of customer receivables and residual interest. Customer receivables, gross includes amounts due from customers under revolving loans, fixed-term loans, fixed-term sales-type or direct financing leases, and accrued interest. The Company has two portfolios, consisting of: (1) fixed-term leases and loans and (2) revolving loans, and assesses risk at the portfolio level to determine the appropriate allowance levels. The portfolio segments are further segregated into classes based on products, customer type, and credit risk evaluation: (1) Revolving - Dell Preferred Account (“DPA”); (2) Revolving - Dell Business Credit (“DBC”); and (3) Fixed-term - Consumer and Commercial. Fixed-term leases and loans are offered to qualified small and medium-sized businesses, large commercial accounts, governmental organizations, and educational entities. Additionally, fixed-term loans are also offered to certain individual consumer customers. Revolving loans are offered under private label credit financing programs. The DPA revolving loan programs are primarily offered to individual consumer customers and the DBC revolving loan programs are primarily offered to small and medium-sized commercial customers. The Company retains a residual interest in equipment leased under its fixed-term lease programs. The amount of the residual interest is established at the inception of the lease based upon estimates of the value of the equipment at the end of the lease term using historical studies, industry data, and future value-at-risk demand valuation methods. On a quarterly basis, the Company assesses the carrying amount of its recorded residual values for impairment. Anticipated declines in specific future residual values that are considered to be other-than-temporary are recorded currently in earnings. Generally, residual value risk on equipment under lease is not considered to be significant because of the existence of a secondary market with respect to the equipment. The lease agreement also clearly defines applicable return conditions and remedies for non-compliance, to ensure that the leased equipment will be in good operating condition upon return. Model changes and updates, as well as market strength and product acceptance, are monitored and adjustments are made to residual values in accordance with the significance of any such changes. The remarketing sales staff works closely with customers and dealers to manage the sale of lease returns and the recovery of residual exposure.
Asset Securitization	Asset Securitization — The Company transfers certain U.S. and European customer loan and lease payments and associated equipment to Special Purpose Entities (“SPEs”) that meet the definition of a Variable Interest Entity (“VIE”) and are consolidated into the Consolidated Financial Statements. These SPEs are bankruptcy-remote legal entities with separate assets and liabilities. The purpose of the SPEs is to facilitate the funding of customer loan and lease payments and associated equipment in the capital markets. These SPEs have entered into financing arrangements with multi-seller conduits that, in turn, issue asset-backed debt securities in the capital markets. The asset securitizations in the SPEs are accounted for as secured borrowings. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for additional information on the impact of the consolidation.
Money Market Funds	Money Market Funds — The Company’s investment in money market funds that are classified as cash equivalents hold underlying investments with a weighted average maturity of 90 days or less and are recognized at fair value. The valuations of these securities are based on quoted prices in active markets for identical assets, when available, or pricing models whereby all significant inputs are observable or can be derived from or corroborated by observable market data. The Company reviews security pricing and assesses liquidity on a quarterly basis. As of November 1, 2019, the Company’s U.S. portfolio had no material exposure to money market funds with a fluctuating net asset value.
Equity and Other Securities	Equity and Other Securities — The Company’s investments in equity and other securities that are measured at fair value on a recurring basis consist primarily of strategic investments in publicly-traded companies. The valuation of these securities is based on quoted prices in active markets.
Derivative Instruments	Derivative Instruments — The Company’s derivative financial instruments consist primarily of foreign currency forward and purchased option contracts and interest rate swaps. The fair value of the portfolio is determined using valuation models based on market observable inputs, including interest rate curves, forward and spot prices for currencies, and implied volatilities. Credit risk is also factored into the fair value calculation of the Company’s derivative instrument portfolio. See Note 7 of the Notes to the Condensed Consolidated Financial Statements for a description of the Company’s derivative financial instrument activities. As part of its risk management strategy, the Company uses derivative instruments, primarily foreign currency forward and option contracts and interest rate swaps, to hedge certain foreign currency and interest rate exposures, respectively. The Company’s objective is to offset gains and losses resulting from these exposures with gains and losses on the derivative contracts used to hedge the exposures, thereby reducing volatility of earnings and protecting the fair values of assets and liabilities. The earnings effects of the derivative instruments are presented in the same income statement line items as the earnings effects of the hedged items. For derivatives designated as cash flow hedges, the Company assesses hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. The Company does not have any derivatives designated as fair value hedges.
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis — Certain assets are measured at fair value on a nonrecurring basis and therefore are not included in the recurring fair value table above. These assets consist primarily of non-financial assets such as goodwill and intangible assets. See Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information about goodwill and intangible assets. As of November 1, 2019 and February 1, 2019, the Company held private strategic investments of $827 million and $671 million, respectively. As these investments represent early-stage companies without readily determinable fair values, they are not included in the recurring fair value table above. The Company has elected to apply the measurement alternative for these investments. Under the alternative, the Company measures investments without readily determinable fair values at cost, less impairment, adjusted by observable price changes. The Company must make a separate election to use the alternative for each eligible investment and is required to reassess at each reporting period whether an investment qualifies for the alternative. In evaluating these investments for impairment or observable price changes, the Company uses inputs including pre- and post-money valuations of recent financing events and the impact of those on its fully diluted ownership percentages, as well as other available information regarding the issuer’s historical and forecasted performance.
Legal Matters	Legal Matters The Company is involved in various claims, suits, assessments, investigations, and legal proceedings that arise from time to time in the ordinary course of its business, including those identified below, consisting of matters involving consumer, antitrust, tax, intellectual property, and other issues on a global basis. The Company accrues a liability when it believes that it is both probable that a liability has been incurred and that it can reasonably estimate the amount of the loss. The Company reviews these accruals at least quarterly and adjusts them to reflect ongoing negotiations, settlements, rulings, advice of legal counsel, and other relevant information. To the extent new information is obtained and the Company’s views on the probable outcomes of claims, suits, assessments, investigations, or legal proceedings change, changes in the Company’s accrued liabilities would be recorded in the period in which such a determination is made. For some matters, the amount of liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made.
Deferred Compensation Plans	Deferred Compensation Plans —The Company offers deferred compensation plans for eligible employees, which allow participants to defer payment for a portion of their compensation. Assets were the same as liabilities associated with the plans at approximately $239 million and $192 million as of November 1, 2019 and February 1, 2019, respectively, and are included in other assets and other liabilities on the Condensed Consolidated Statements of Financial Position. The net impact to the Condensed Consolidated Statements of Income (Loss) is not material since changes in the fair value of the assets substantially offset changes in the fair value of the liabilities. As such, assets and liabilities associated with these plans have not been included in the recurring fair value table above. These fair values were determined based on observable market prices in a less active market or based on valuation methodologies using observable inputs and were categorized as Level 2 in the fair value hierarchy.

FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)

9 Months Ended

Nov. 01, 2019

Fair Value Disclosures [Abstract]

Hierarchy for assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the dates indicated:



	November 1, 2019								February 1, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs				Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	(in millions)
Assets:
Cash and cash equivalents:
Money market funds	$	4,488	$	—	$	—	$	4,488	$	5,221	$	—	$	—	$	5,221
Equity and other securities	11		—		—		11		314		20		—		334
Derivative instruments	—		119		—		119		—		97		—		97
Total assets	$	4,499	$	119	$	—	$	4,618	$	5,535	$	117	$	—	$	5,652
Liabilities:
Derivative instruments	$	—	$	67	$	—	$	67	$	—	$	60	$	—	$	60
Total liabilities	$	—	$	67	$	—	$	67	$	—	$	60	$	—	$	60

Carrying value and estimated fair value of outstanding debt



	November 1, 2019				February 1, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in billions)
Senior Secured Credit Facilities	$	8.9	$	9.0	$	12.5	$	12.6
First Lien Notes	$	20.5	$	23.3	$	19.8	$	21.0
Unsecured Notes and Debentures	$	1.2	$	1.4	$	1.8	$	1.9
Senior Notes	$	2.6	$	2.8	$	3.1	$	3.4
EMC Notes	$	3.0	$	3.0	$	3.0	$	2.9
VMware Notes and VMware Term Loan Facility	$	4.6	$	4.7	$	4.0	$	3.9
Margin Loan Facility	$	4.0	$	4.0	$	3.3	$	3.4

Investments

The following table presents the carrying value of the Company’s strategic investments in publicly-traded and privately-held companies as of the dates indicated:



	November 1, 2019									February 1, 2019
	Cost		Unrealized Gain		Unrealized (Loss)			Carrying Value		Cost		Unrealized Gain		Unrealized (Loss)			Carrying Value
	(in millions)
Equity and other securities	$	776	$	94	$	(32	)	$	838	$	638	$	539	$	(172	)	$	1,005

FINANCIAL SERVICES (Tables)

9 Months Ended

Nov. 01, 2019

Receivables [Abstract]

Components of financing receivables segregated by portfolio segment

The following table presents the components of the Company’s financing receivables segregated by portfolio segment as of the dates indicated:



	November 1, 2019									February 1, 2019
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Financing receivables, net:
Customer receivables, gross (a)	$	774		$	7,813		$	8,587		$	835		$	7,249		$	8,084
Allowances for losses	(66		)	(78		)	(144		)	(75		)	(61		)	(136		)
Customer receivables, net	708			7,735			8,443			760			7,188			7,948
Residual interest	—			611			611			—			674			674
Financing receivables, net	$	708		$	8,346		$	9,054		$	760		$	7,862		$	8,622
Short-term	$	708		$	3,881		$	4,589		$	760		$	3,638		$	4,398
Long-term	$	—		$	4,465		$	4,465		$	—		$	4,224		$	4,224

____________________


(a)	Customer receivables, gross includes amounts due from customers under revolving loans, fixed-term loans, fixed-term sales-type or direct financing leases, and accrued interest.

Allowance for financing receivable losses

The following tables present the changes in allowance for financing receivable losses for the periods indicated:



	Three Months Ended
	November 1, 2019									November 2, 2018
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	67		$	71		$	138		$	75		$	51		$	126
Charge-offs, net of recoveries	(18		)	(6		)	(24		)	(19		)	(4		)	(23		)
Provision charged to income statement	17			13			30			17			6			23
Balances at end of period	$	66		$	78		$	144		$	73		$	53		$	126

	Nine Months Ended
	November 1, 2019									November 2, 2018
	Revolving			Fixed-term			Total			Revolving			Fixed-term			Total
	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	75		$	61		$	136		$	81		$	64		$	145
Charge-offs, net of recoveries	(53		)	(18		)	(71		)	(58		)	(21		)	(79		)
Provision charged to income statement	44			35			79			50			10			60
Balances at end of period	$	66		$	78		$	144		$	73		$	53		$	126

Aging of customer financing receivables

The following table presents the aging of the Company’s customer financing receivables, gross, including accrued interest, segregated by class, as of the dates indicated:



	November 1, 2019								February 1, 2019
	Current		Past Due 1 — 90 Days		Past Due >90 Days		Total		Current		Past Due 1 — 90 Days		Past Due >90 Days		Total
	(in millions)
Revolving — DPA	$	524	$	49	$	19	$	592	$	583	$	53	$	21	$	657
Revolving — DBC	161		17		4		182		155		19		4		178
Fixed-term — Consumer and Commercial	6,813		914		86		7,813		6,282		878		89		7,249
Total customer receivables, gross	$	7,498	$	980	$	109	$	8,587	$	7,020	$	950	$	114	$	8,084

Credit quality indicators



	November 1, 2019								February 1, 2019
	Higher		Mid		Lower		Total		Higher		Mid		Lower		Total
	(in millions)
Revolving — DPA	$	124	$	173	$	295	$	592	$	128	$	192	$	337	$	657
Revolving — DBC	$	47	$	56	$	79	$	182	$	47	$	54	$	77	$	178
Fixed-term — Consumer and Commercial	$	4,494	$	1,995	$	1,324	$	7,813	$	3,980	$	1,984	$	1,285	$	7,249

Finance leases

The following table presents the net revenue, cost of net revenue, and gross margin recognized at the commencement date of sales-type leases for the periods indicated:



	Three Months Ended		Nine Months Ended
	November 1, 2019		November 1, 2019
	(in millions)
Net revenue — products	$	251	$	604
Cost of net revenue — products	215		475
Gross margin — products	$	36	$	129

Future maturity of fixed-term customer leases



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	850
Fiscal 2021	2,272
Fiscal 2022	1,487
Fiscal 2023	693
Fiscal 2024 and beyond	273
Total undiscounted cash flows	5,575
Fixed-term loans	2,755
Revolving loans	774
Less: unearned income	(517		)
Total customer receivables, gross	$	8,587

Operating lease income

The following table presents the components of the Company’s operating lease portfolio included in Property, plant, and equipment, net as of the date indicated:



	November 1, 2019
	(in millions)
Equipment under operating lease, gross	$	699
Less: accumulated depreciation	(73		)
Equipment under operating lease, net	$	626

Operating lease income maturities

The following table presents the future payments to be received by the Company as lessor in operating lease contracts as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	73
Fiscal 2021	250
Fiscal 2022	229
Fiscal 2023	123
Fiscal 2024 and beyond	10
Total	$	685

Summary of debt

The following table presents DFS debt as of the dates indicated. The table excludes the allocated portion of the Company’s other borrowings, which represents the additional amount considered to fund the DFS business.



	November 1, 2019		February 1, 2019
	(in millions)
DFS U.S. debt:
Securitization facilities	$	2,019	$	1,914
Fixed-term securitization offerings	3,003		2,303
Other	183		223
Total DFS U.S. debt	5,205		4,440
DFS international debt:
Securitization facility	716		584
Other borrowings	893		708
Note payable	198		197
Dell Bank Senior Unsecured Eurobonds	556		—
Total DFS international debt	2,363		1,489
Total DFS debt	$	7,568	$	5,929
Total short-term DFS debt	$	3,576	$	3,113
Total long-term DFS debt	$	3,992	$	2,816

The following table presents the Company’s outstanding debt as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Secured Debt
Senior Secured Credit Facilities:
4.24% Term Loan B Facility due September 2023	$	—	$	4,938
3.79% Term Loan B-1 Facility due September 2025	4,750		—
4.16% Term Loan A-2 Facility due September 2021	—		4,116
3.54% Term Loan A-4 Facility due December 2023	679		1,650
4.25% Term Loan A-5 Facility due December 2019	—		2,016
3.60% Term Loan A-6 Facility due March 2024	3,543		—
First Lien Notes:
3.48% due June 2019	—		3,750
4.42% due June 2021	4,500		4,500
5.45% due June 2023	3,750		3,750
4.00% due July 2024	1,000		—
6.02% due June 2026	4,500		4,500
4.90% due October 2026	1,750		—
5.30% due October 2029	1,750		—
8.10% due July 2036	1,500		1,500
8.35% due July 2046	2,000		2,000
Unsecured Debt
Unsecured Notes and Debentures:
5.875% due June 2019	—		600
4.625% due April 2021	400		400
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
Senior Notes:
5.875% due June 2021	1,075		1,625
7.125% due June 2024	1,625		1,625
EMC Notes:
2.650% due June 2020	2,000		2,000
3.375% due June 2023	1,000		1,000
Public Subsidiary Debt
VMware Notes:
2.30% due August 2020	1,250		1,250
2.95% due August 2022	1,500		1,500
3.90% due August 2027	1,250		1,250
VMware Term Loan Facility	600		—
DFS Debt (Note 4)	7,568		5,929
Other
4.18% Margin Loan Facility due April 2022	4,000		3,350
Other	84		38
Total debt, principal amount	$	53,026	$	54,239



	November 1, 2019			February 1, 2019
	(in millions)
Total debt, principal amount	$	53,026		$	54,239
Unamortized discount, net of unamortized premium	(246		)	(271		)
Debt issuance costs	(389		)	(447		)
Total debt, carrying value	$	52,391		$	53,521
Total short-term debt, carrying value	$	7,664		$	4,320
Total long-term debt, carrying value	$	44,727		$	49,201

Financing receivables held by the consolidated VIEs

The following table presents financing receivables and equipment under operating leases, net held by the consolidated VIEs as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Assets held by consolidated VIEs, net:
Short-term, net	$	3,212	$	2,940
Long-term, net	3,149		2,508
Assets held by consolidated VIEs, net	$	6,361	$	5,448

LEASES (Tables)

9 Months Ended

Nov. 01, 2019

Leases [Abstract]

Components of lease expense and supplemental information

The following table presents components of lease costs included in the Condensed Consolidated Statements of Income (Loss) for the periods indicated:



	Three Months Ended		Nine Months Ended
	November 1, 2019		November 1, 2019
	(in millions)
Operating lease costs	$	134	$	377
Variable costs	41		120
Total lease costs	$	175	$	497

During the nine months ended November 1, 2019, sublease income, finance lease costs, and short-term lease costs were immaterial.

The following table presents supplemental information related to operating leases included in the Condensed Consolidated Statements of Financial Position as of the date indicated:



	Classification	November 1, 2019
		(in millions, except for term and discount rate)
Operating lease ROU assets	Other non-current assets	$	1,752

Current operating lease liabilities	Accrued and other current liabilities	$	428
Non-current operating lease liabilities	Other non-current liabilities	1,336
Total operating lease liabilities		$	1,764

Weighted-average remaining lease term (in years)		8.73
Weighted-average discount rate		3.94		%

The following table presents supplemental cash flow information related to leases for the period indicated:



	Nine Months Ended
	November 1, 2019
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	367

ROU assets obtained in exchange for new operating lease liabilities	$	495

Maturity of operating lease liabilities



	November 1, 2019
Fiscal Years	(in millions)
Fiscal 2020 (remaining three months)	$	104
Fiscal 2021	455
Fiscal 2022	360
Fiscal 2023	277
Fiscal 2024	181
Thereafter	772
Total lease payments	$	2,149
Less: Imputed interest	(385		)
Total	$	1,764
Current operating lease liabilities	$	428
Non-current operating lease liabilities	$	1,336

Future minimum lease payments

Prior to the adoption of the new lease standard, the Company had the following future minimum lease payments under non-cancelable leases:



	February 1, 2019
Fiscal Years	(in millions)
Fiscal 2020	$	371
Fiscal 2021	314
Fiscal 2022	240
Fiscal 2023	175
Fiscal 2024	113
Thereafter	643
Total	$	1,856

DEBT (Tables)

9 Months Ended

Nov. 01, 2019

Debt Disclosure [Abstract]

Outstanding debt



	November 1, 2019		February 1, 2019
	(in millions)
DFS U.S. debt:
Securitization facilities	$	2,019	$	1,914
Fixed-term securitization offerings	3,003		2,303
Other	183		223
Total DFS U.S. debt	5,205		4,440
DFS international debt:
Securitization facility	716		584
Other borrowings	893		708
Note payable	198		197
Dell Bank Senior Unsecured Eurobonds	556		—
Total DFS international debt	2,363		1,489
Total DFS debt	$	7,568	$	5,929
Total short-term DFS debt	$	3,576	$	3,113
Total long-term DFS debt	$	3,992	$	2,816

The following table presents the Company’s outstanding debt as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Secured Debt
Senior Secured Credit Facilities:
4.24% Term Loan B Facility due September 2023	$	—	$	4,938
3.79% Term Loan B-1 Facility due September 2025	4,750		—
4.16% Term Loan A-2 Facility due September 2021	—		4,116
3.54% Term Loan A-4 Facility due December 2023	679		1,650
4.25% Term Loan A-5 Facility due December 2019	—		2,016
3.60% Term Loan A-6 Facility due March 2024	3,543		—
First Lien Notes:
3.48% due June 2019	—		3,750
4.42% due June 2021	4,500		4,500
5.45% due June 2023	3,750		3,750
4.00% due July 2024	1,000		—
6.02% due June 2026	4,500		4,500
4.90% due October 2026	1,750		—
5.30% due October 2029	1,750		—
8.10% due July 2036	1,500		1,500
8.35% due July 2046	2,000		2,000
Unsecured Debt
Unsecured Notes and Debentures:
5.875% due June 2019	—		600
4.625% due April 2021	400		400
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
Senior Notes:
5.875% due June 2021	1,075		1,625
7.125% due June 2024	1,625		1,625
EMC Notes:
2.650% due June 2020	2,000		2,000
3.375% due June 2023	1,000		1,000
Public Subsidiary Debt
VMware Notes:
2.30% due August 2020	1,250		1,250
2.95% due August 2022	1,500		1,500
3.90% due August 2027	1,250		1,250
VMware Term Loan Facility	600		—
DFS Debt (Note 4)	7,568		5,929
Other
4.18% Margin Loan Facility due April 2022	4,000		3,350
Other	84		38
Total debt, principal amount	$	53,026	$	54,239



	November 1, 2019			February 1, 2019
	(in millions)
Total debt, principal amount	$	53,026		$	54,239
Unamortized discount, net of unamortized premium	(246		)	(271		)
Debt issuance costs	(389		)	(447		)
Total debt, carrying value	$	52,391		$	53,521
Total short-term debt, carrying value	$	7,664		$	4,320
Total long-term debt, carrying value	$	44,727		$	49,201

Aggregate future maturities

The following table presents the aggregate future maturities of the Company’s debt as of November 1, 2019 for the periods indicated:



	Maturities by Fiscal Year
	2020 (remaining three months)		2021			2022			2023			2024			Thereafter			Total
	(in millions)
Senior Secured Credit Facilities and First Lien Notes	$	91	$	184		$	4,717		$	286		$	6,702		$	17,742		$	29,722
Unsecured Notes and Debentures	—		—			400			—			—			952			1,352
Senior Notes and EMC Notes	—		2,000			1,075			—			1,000			1,625			5,700
VMware Notes	—		1,850			—			1,500			—			1,250			4,600
DFS Debt	1,249		3,611			1,418			1,198			84			8			7,568
Margin Loan Facility	—		—			—			4,000			—			—			4,000
Other	11		21			7			8			7			30			84
Total maturities, principal amount	1,351		7,666			7,617			6,992			7,793			21,607			53,026
Associated carrying value adjustments	—		(8		)	(57		)	(26		)	(53		)	(491		)	(635		)
Total maturities, carrying value amount	$	1,351	$	7,658		$	7,560		$	6,966		$	7,740		$	21,116		$	52,391

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Nov. 01, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amounts of outstanding derivative instruments



	November 1, 2019		February 1, 2019
	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	8,550	$	7,573
Non-designated as hedging instruments	6,734		6,129
Total	$	15,284	$	13,702
Interest rate contracts:
Non-designated as hedging instruments	$	3,715	$	2,674

Derivative instruments designated as hedging instruments



Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives			Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from Accumulated OCI into Income
	(in millions)				(in millions)
For the three months ended November 1, 2019
				Total net revenue	$	71
Foreign exchange contracts	$	(47	)	Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	(47	)		$	71

For the three months ended November 2, 2018
				Total net revenue	$	76
Foreign exchange contracts	$	73		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	73			$	76

For the nine months ended November 1, 2019
				Total net revenue	$	197
Foreign exchange contracts	$	210		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	210			$	197

For the nine months ended November 2, 2018
				Total net revenue	$	122
Foreign exchange contracts	$	314		Total cost of net revenue	—
Interest rate contracts	—			Interest and other, net	—
Total	$	314			$	122

Derivative instruments not designated as hedging instruments



	Three Months Ended				Nine Months Ended
	November 1, 2019		November 2, 2018		November 1, 2019			November 2, 2018		Location of Gain (Loss) Recognized
	(in millions)
Gain (Loss) Recognized:
Foreign exchange contracts	$	13	$	18	$	(46	)	$	50	Interest and other, net
Interest rate contracts	1		1		(21		)	2		Interest and other, net
Total	$	14	$	19	$	(67	)	$	52

Fair value of derivatives

The following tables present the fair value of those derivative instruments presented on a gross basis as of the dates indicated:



	November 1, 2019
	Other Current Assets			Other Non- Current Assets		Other Current Liabilities			Other Non-Current Liabilities			Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	90		$	—	$	11		$	—		$	101
Foreign exchange contracts in a liability position	(24		)	—		(22		)	—			(46		)
Net asset (liability)	66			—		(11		)	—			55
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	176			—		41			—			217
Foreign exchange contracts in a liability position	(124		)	—		(70		)	(3		)	(197		)
Interest rate contracts in an asset position	—			1		—			—			1
Interest rate contracts in a liability position	—			—		—			(24		)	(24		)
Net asset (liability)	52			1		(29		)	(27		)	(3		)
Total derivatives at fair value	$	118		$	1	$	(40	)	$	(27	)	$	52

	February 1, 2019
	Other Current Assets			Other Non- Current Assets		Other Current Liabilities			Other Non-Current Liabilities			Total Fair Value
	(in millions)
Derivatives designated as hedging instruments:
Foreign exchange contracts in an asset position	$	45		$	—	$	29		$	—		$	74
Foreign exchange contracts in a liability position	(19		)	—		(20		)	—			(39		)
Net asset (liability)	26			—		9			—			35
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	178			—		57			—			235
Foreign exchange contracts in a liability position	(110		)	—		(115		)	(2		)	(227		)
Interest rate contracts in an asset position	—			3		—			—			3
Interest rate contracts in a liability position	—			—		—			(9		)	(9		)
Net asset (liability)	68			3		(58		)	(11		)	2
Total derivatives at fair value	$	94		$	3	$	(49	)	$	(11	)	$	37

Offsetting assets



	November 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	319		$	(200	)	$	119		$	—	$	—	$	119
Financial liabilities	(267		)	200			(67		)	—		11		(56		)
Total derivative instruments	$	52		$	—		$	52		$	—	$	11	$	63

	February 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	312		$	(215	)	$	97		$	—	$	—	$	97
Financial liabilities	(275		)	215			(60		)	—		4		(56		)
Total derivative instruments	$	37		$	—		$	37		$	—	$	4	$	41

Offsetting liabilities



	November 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	319		$	(200	)	$	119		$	—	$	—	$	119
Financial liabilities	(267		)	200			(67		)	—		11		(56		)
Total derivative instruments	$	52		$	—		$	52		$	—	$	11	$	63

	February 1, 2019
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts not Offset in the Statement of Financial Position				Net Amount
	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position						Financial Instruments		Cash Collateral Received or Pledged		Net Amount
	(in millions)
Derivative instruments:
Financial assets	$	312		$	(215	)	$	97		$	—	$	—	$	97
Financial liabilities	(275		)	215			(60		)	—		4		(56		)
Total derivative instruments	$	37		$	—		$	37		$	—	$	4	$	41

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Nov. 01, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The following table presents goodwill allocated to the Company’s business segments and changes in the carrying amount of goodwill as of the dates indicated:



	Infrastructure Solutions Group			Client Solutions Group		VMware		Other Businesses (a)			Total
	(in millions)
Balance as of February 1, 2019	$	15,199		$	4,237	$	16,419	$	4,234		$	40,089
Goodwill acquired (b)	—			—		1,909		—			1,909
Impact of foreign currency translation	(92		)	—		—		(11		)	(103		)
Goodwill impaired (c)	—			—		—		(207		)	(207		)
Balance as of November 1, 2019	$	15,107		$	4,237	$	18,328	$	4,016		$	41,688

____________________

(a) Other Businesses consists of offerings by Pivotal, Secureworks, RSA Security LLC (“RSA Security”), Virtustream Group Holdings, Inc. (“Virtustream”), and Boomi, Inc. (“Boomi”).

(b) VMware, Inc. acquisitions, as discussed below.

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the preliminary allocation of the consideration to the fair value of the assets acquired and liabilities assumed on the date of acquisition.



	Preliminary Allocation
	(in millions)
Cash	$	111
Accounts receivable	58
Intangible assets	492
Goodwill	1,588
Other acquired assets	52
Total assets acquired	2,301
Unearned revenue	151
Other assumed liabilities	45
Total liabilities assumed	196
Fair value of assets acquired and liabilities assumed	$	2,105

Finite-lived intangible assets acquired as part of business combination

The following table summarizes the components of the intangible assets acquired and their estimated useful lives by VMware, Inc. in conjunction with the acquisition.



	Weighted-Average Useful Lives	Fair Value Amount
	(in years)	(in millions)
Purchased technology	4.2	$	232
Customer relationships and customer lists	7.0	215
Trademarks and tradenames	5.0	25
Other	2.0	20
Total definite-lived intangible assets		$	492

Schedule of definite-lived intangible assets

The following table presents the Company’s intangible assets as of the dates indicated:



	November 1, 2019							February 1, 2019
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(in millions)
Customer relationships	$	22,947	$	(13,319	)	$	9,628	$	22,750	$	(11,703	)	$	11,047
Developed technology	15,702		(10,454		)	5,248		15,701		(9,036		)	6,665
Trade names	1,307		(764		)	543		1,291		(606		)	685
Leasehold assets (liabilities)	—		—			—		128		(10		)	118
Definite-lived intangible assets	39,956		(24,537		)	15,419		39,870		(21,355		)	18,515
Indefinite-lived trade names	3,755		—			3,755		3,755		—			3,755
Total intangible assets	$	43,711	$	(24,537	)	$	19,174	$	43,625	$	(21,355	)	$	22,270

Schedule of indefinite-lived intangible assets

The following table presents the Company’s intangible assets as of the dates indicated:



	November 1, 2019							February 1, 2019
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
	(in millions)
Customer relationships	$	22,947	$	(13,319	)	$	9,628	$	22,750	$	(11,703	)	$	11,047
Developed technology	15,702		(10,454		)	5,248		15,701		(9,036		)	6,665
Trade names	1,307		(764		)	543		1,291		(606		)	685
Leasehold assets (liabilities)	—		—			—		128		(10		)	118
Definite-lived intangible assets	39,956		(24,537		)	15,419		39,870		(21,355		)	18,515
Indefinite-lived trade names	3,755		—			3,755		3,755		—			3,755
Total intangible assets	$	43,711	$	(24,537	)	$	19,174	$	43,625	$	(21,355	)	$	22,270

Estimated future annual pre-tax amortization expense

The following table presents the estimated future annual pre-tax amortization expense of definite-lived intangible assets as of the date indicated:



	November 1, 2019
Fiscal Years	(in millions)
2020 (remaining three months)	$	1,074
2021	3,431
2022	2,722
2023	1,838
2024	1,465
Thereafter	4,889
Total	$	15,419

DEFERRED REVENUE (Tables)

9 Months Ended

Nov. 01, 2019

Revenue from Contract with Customer [Abstract]

Changes in deferred revenue

The following table presents the changes in the Company’s deferred revenue for the periods indicated:



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	25,348		$	21,700		$	24,010		$	20,816
Revenue deferrals for new contracts and changes in estimates for pre-existing contracts (a) (b)	5,326			4,852			16,201			14,165
Revenue recognized (b)	(4,922		)	(4,409		)	(14,459		)	(12,838		)
Other (c)	151			—			151			—
Deferred revenue at end of period	$	25,903		$	22,143		$	25,903		$	22,143
Short-term deferred revenue	$	13,787		$	12,079		$	13,787		$	12,079
Long-term deferred revenue	$	12,116		$	10,064		$	12,116		$	10,064

____________________


(a)	Includes the impact of foreign currency exchange rate fluctuations.


(b)	The Company conformed the presentation of certain deferred revenue rollforward activity for the three and nine months ended November 2, 2018 to align current year presentation. The beginning and ending deferred revenue liability balances remain unchanged.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Nov. 01, 2019

Equity [Abstract]

Changes in accumulated other comprehensive income (loss)

The following table presents changes in accumulated other comprehensive income (loss), net of tax, by the following components as of the dates indicated:



	Foreign Currency Translation Adjustments			Investments		Cash Flow Hedges			Pension and Other Postretirement Plans		Accumulated Other Comprehensive Income (Loss)
	(in millions)
Balances as of February 1, 2019	$	(452	)	$	—	$	(29	)	$	14	$	(467	)
Other comprehensive income (loss) before reclassifications	(186		)	—		210			8		32
Amounts reclassified from accumulated other comprehensive income (loss)	—			—		(197		)	—		(197		)
Total change for the period	(186		)	—		13			8		(165		)
Less: Change in comprehensive income (loss) attributable to non-controlling interests	—			—		—			—		—
Balances as of November 1, 2019	$	(638	)	$	—	$	(16	)	$	22	$	(632	)

Reclassifications out of accumulated other comprehensive income (loss)

The following table presents reclassifications out of accumulated other comprehensive income (loss), net of tax, to net income (loss) for the periods indicated:



	Three Months Ended
	November 1, 2019						November 2, 2018
	Investments		Cash Flow Hedges		Total		Investments		Cash Flow Hedges		Total
	(in millions)
Total reclassifications, net of tax:
Net revenue	$	—	$	71	$	71	$	—	$	76	$	76
Cost of net revenue	—		—		—		—		—		—
Interest and other, net	—		—		—		—		—		—
Total reclassifications, net of tax	$	—	$	71	$	71	$	—	$	76	$	76

	Nine Months Ended
	November 1, 2019						November 2, 2018
	Investments		Cash Flow Hedges		Total		Investments		Cash Flow Hedges		Total
	(in millions)
Total reclassifications, net of tax:
Net revenue	$	—	$	197	$	197	$	—	$	122	$	122
Cost of net revenue	—		—		—		—		—		—
Interest and other, net	—		—		—		1		—		1
Total reclassifications, net of tax	$	—	$	197	$	197	$	1	$	122	$	123

NON-CONTROLLING INTERESTS (Tables)

9 Months Ended

Nov. 01, 2019

Noncontrolling Interest [Abstract]

Effect of changes in ownership interest

The following table presents the effect of changes in the Company’s ownership interest in VMware, Inc., Pivotal, and Secureworks on the Company’s equity for the period indicated:



	Nine Months Ended
	November 1, 2019
	(in millions)
Net income attributable to Dell Technologies Inc.	$	4,208
Transfers (to)/from the non-controlling interests:
Increase in Dell Technologies Inc. additional paid-in-capital for equity issuances and other equity activity	616
Decrease in Dell Technologies Inc. additional paid-in-capital and accumulated deficit for equity issuances and other equity activity	(1,278		)
Net transfers to non-controlling interests	(662		)
Change from net income attributable to Dell Technologies Inc. and transfers to the non-controlling interests	$	3,546

CAPITALIZATION (Tables)

9 Months Ended

Nov. 01, 2019

Equity [Abstract]

Schedule of stock

The following table presents the Company’s authorized, issued, and outstanding common stock as of the dates indicated:



	Authorized	Issued	Outstanding
	(in millions)
Common stock as of November 1, 2019
Class A	600	374	374
Class B	200	119	119
Class C	7,900	238	236
Class D	100	—	—
Class V	343	—	—
	9,143	731	729

Common stock as of February 1, 2019
Class A	600	410	410
Class B	200	137	137
Class C	7,900	174	172
Class D	100	—	—
Class V	343	—	—
	9,143	721	719

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Nov. 01, 2019

Earnings Per Share [Abstract]

Computation of basic and diluted earnings (loss) per share and reconciliation to consolidated net income (loss)

The following table presents the basic and diluted earnings (loss) per share for the periods indicated:



	Three Months Ended					Nine Months Ended
	November 1, 2019		November 2, 2018			November 1, 2019		November 2, 2018
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Dell Technologies Common Stock	$	0.69				$	5.84
Class V Common Stock			$	0.83				$	4.80
DHI Group			$	(1.84	)			$	(5.23	)

Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Dell Technologies Common Stock	$	0.66				$	5.50
Class V Common Stock			$	0.81				$	4.72
DHI Group			$	(1.84	)			$	(5.25	)

The following table presents the computation of basic and diluted earnings (loss) per share for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 1, 2019			November 1, 2019
	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies - basic	$	499		$	4,208
Incremental dilution from VMware, Inc. attributable to Dell Technologies (a)	(6		)	(81		)
Net income attributable to Dell Technologies - diluted	$	493		$	4,127

Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding - basic	725			720
Dilutive effect of options, restricted stock units, restricted stock, and other	25			30
Weighted-average shares outstanding - diluted	750			750
Weighted-average shares outstanding - antidilutive	—			—

____________________

(a)

The following table presents the computation of basic and diluted earnings (loss) per share prior to Fiscal 2020 for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 2, 2018			November 2, 2018
	(in millions)
Numerator: Class V Common Stock
Net income attributable to Class V Common Stock - basic	$	165		$	955
Incremental dilution from VMware, Inc. attributable to Class V Common Stock (a)	(3		)	(15		)
Net income attributable to Class V Common Stock - diluted	$	162		$	940

Numerator: DHI Group
Net loss attributable to DHI Group - basic	$	(1,041	)	$	(2,966	)
Incremental dilution from VMware, Inc. attributable to DHI Group (a)	(1		)	(9		)
Net loss attributable to DHI Group - diluted	$	(1,042	)	$	(2,975	)

Denominator: Class V Common Stock weighted-average shares outstanding
Weighted-average shares outstanding - basic	199			199
Dilutive effect of options, restricted stock units, restricted stock, and other (b)	—			—
Weighted-average shares outstanding - diluted	199			199
Weighted-average shares outstanding - antidilutive (b)	—			—

Denominator: DHI Group weighted-average shares outstanding
Weighted-average shares outstanding - basic	567			567
Dilutive effect of options, restricted stock units, restricted stock, and other	—			—
Weighted-average shares outstanding - diluted	567			567
Weighted-average shares outstanding - antidilutive (c)	46			47

____________________


(a)	The incremental dilution from VMware, Inc. represents the impact of VMware, Inc.’s dilutive securities on the diluted earnings (loss) per share of the DHI Group and the Class V Common Stock, respectively, and is calculated by multiplying the difference between VMware, Inc.’s basic and diluted earnings (loss) per share by the number of shares of VMware, Inc. common stock held by the Company.


(b)	The dilutive effect of Class V Common Stock-based incentive awards was not material to the calculation of the weighted-average Class V Common Stock shares outstanding. The antidilutive effect of these awards was also not material.

(c)

Stock-based incentive awards have been excluded from the calculation of the DHI Group’s diluted loss per share because their effect would have been antidilutive, as the Company had a net loss as to the DHI Group for the periods presented.

Reconciliation to the consolidated net income (loss)

The following table presents a reconciliation to the consolidated net loss attributable to Dell Technologies Inc. prior to Fiscal 2020 for the periods indicated:



	Three Months Ended			Nine Months Ended
	November 2, 2018			November 2, 2018
	(in millions)
Net income attributable to Class V Common Stock (a)	$	165		$	955
Net loss attributable to DHI Group	(1,041		)	(2,966		)
Net loss attributable to Dell Technologies Inc.	$	(876	)	$	(2,011	)

____________________

(a)

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Nov. 01, 2019

Share-based Payment Arrangement [Abstract]

Market based performance awards valuation assumptions

The following table presents the assumptions utilized in the valuation model for the period indicated:



	Nine Months Ended
	November 1, 2019
Weighted-average grant date fair value	$	87.17
Expected term (in years)	3.0
Risk-free rate (U.S. Government Treasury Note)	2.4		%
Expected volatility	45		%
Expected dividend yield	—		%

REDEEMABLE SHARES (Tables)

9 Months Ended

Nov. 01, 2019

Temporary Equity Disclosure [Abstract]

Temporary equity

The following table presents the amount of redeemable shares classified as temporary equity and summarizes the award type as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Redeemable shares classified as temporary equity	$	934	$	1,196

Issued and outstanding unrestricted common shares	2		3
Restricted stock units	1		1
Restricted stock awards	—		—
Outstanding stock options	21		31

SEGMENT INFORMATION (Tables)

9 Months Ended

Nov. 01, 2019

Segment Reporting [Abstract]

Reconciliation of revenue from segments to consolidated



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	8,390		$	8,937		$	25,213		$	26,831
Client Solutions Group	11,410			10,905			34,068			32,304
VMware	2,483			2,229			7,231			6,451
Reportable segment net revenue	22,283			22,071			66,512			65,586
Other businesses (a)	644			583			1,859			1,736
Unallocated transactions (b)	1			(3		)	1			(6		)
Impact of purchase accounting (c)	(84		)	(169		)	(250		)	(536		)
Total consolidated net revenue	$	22,844		$	22,482		$	68,122		$	66,780

Consolidated operating income (loss):
Infrastructure Solutions Group	$	996		$	935		$	2,889		$	2,886
Client Solutions Group	739			447			2,514			1,405
VMware	717			768			2,093			2,117
Reportable segment operating income	2,452			2,150			7,496			6,408
Other businesses (a)	(8		)	(40		)	(86		)	(139		)
Unallocated transactions (b)	(2		)	(46		)	(29		)	(71		)
Impact of purchase accounting (c)	(96		)	(193		)	(299		)	(630		)
Amortization of intangibles	(1,057		)	(1,546		)	(3,334		)	(4,594		)
Transaction-related expenses (d)	(76		)	(167		)	(165		)	(437		)
Stock-based compensation expense (e)	(322		)	(256		)	(886		)	(671		)
Other corporate expenses (f)	(55		)	(258		)	(792		)	(388		)
Total consolidated operating income (loss)	$	836		$	(356	)	$	1,905		$	(522	)

____________________


(a)	Pivotal, Secureworks, RSA Security, Virtustream, and Boomi constitute “Other businesses” and do not meet the requirements for a reportable segment, either individually or collectively. The results of Other businesses are not material to the Company’s overall results.


(b)	Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.


(c)	Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.


(d)	Transaction-related expenses includes acquisition, integration, and divestiture related costs, as well as the costs incurred in the Class V transaction.


(e)	Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.


(f)	Other corporate expenses includes impairment charges and severance, facility action, and other costs. See Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information on Virtustream impairment charges.

Disaggregation of revenue

The following table presents the disaggregation of net revenue by reportable segment, and by major product categories within the segments for the periods indicated:



	Three Months Ended				Nine Months Ended
	November 1, 2019		November 2, 2018		November 1, 2019		November 2, 2018
	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	4,241	$	5,054	$	12,858	$	14,700
Storage	4,149		3,883		12,355		12,131
Total ISG net revenue	8,390		8,937		25,213		26,831
Client Solutions Group:
Commercial	8,330		7,613		25,714		23,085
Consumer	3,080		3,292		8,354		9,219
Total CSG net revenue	11,410		10,905		34,068		32,304
VMware:
Total VMware net revenue	2,483		2,229		7,231		6,451
Total segment net revenue	$	22,283	$	22,071	$	66,512	$	65,586

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION (Tables)

9 Months Ended

Nov. 01, 2019

Condensed Financial Information Disclosure [Abstract]

Information on selected accounts

The following table presents additional information on selected accounts included in the Condensed Consolidated Statements of Financial Position as of the dates indicated:



	November 1, 2019		February 1, 2019
	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	8,555	$	9,676
Restricted cash - other current assets (a)	654		522
Restricted cash - other non-current assets (a)	132		42
Total cash, cash equivalents, and restricted cash	$	9,341	$	10,240
Inventories, net:
Production materials	$	1,491	$	1,794
Work-in-process	615		702
Finished goods	1,151		1,153
Total inventories, net	$	3,257	$	3,649
Other non-current liabilities:
Warranty liability	$	169	$	169
Deferred and other tax liabilities	3,972		5,527
Non-current operating lease liabilities	1,336		—
Other	628		631
Total other non-current liabilities	$	6,105	$	6,327

____________________


(a)	Restricted cash primarily includes cash required to be held in escrow pursuant to DFS securitization arrangements and VMware, Inc. restricted cash.

Liability for standard limited warranties

The following table presents changes in the Company’s liability for standard limited warranties for the periods indicated:



	Three Months Ended						Nine Months Ended
	November 1, 2019			November 2, 2018			November 1, 2019			November 2, 2018
	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	525		$	542		$	524		$	539
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a) (b)	211			226			651			656
Service obligations honored	(216		)	(245		)	(655		)	(672		)
Warranty liability at end of period	$	520		$	523		$	520		$	523
Current portion	$	351		$	354		$	351		$	354
Non-current portion	$	169		$	169		$	169		$	169

____________________


(a)	Changes in cost estimates related to pre-existing warranties are aggregated with accruals for new standard warranty contracts. The Company’s warranty liability process does not differentiate between estimates made for pre-existing warranties and new warranty obligations.

(b)

Includes the impact of foreign currency exchange rate fluctuations.

BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 02, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 1,764
Operating lease right of use asset	$ 1,752
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability		$ 1,600
Operating lease right of use asset		$ 1,600

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Assets:
Equity and other securities	$ 11	$ 334
Derivative instruments	119	97
Total assets	4,618	5,652
Liabilities:
Derivative instruments	67	60
Total liabilities	67	60
Money market funds
Assets:
Cash and cash equivalents	4,488	5,221
Level 1
Assets:
Equity and other securities	11	314
Derivative instruments	0	0
Total assets	4,499	5,535
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Level 1 \| Money market funds
Assets:
Cash and cash equivalents	4,488	5,221
Level 2
Assets:
Equity and other securities	0	20
Derivative instruments	119	97
Total assets	119	117
Liabilities:
Derivative instruments	67	60
Total liabilities	67	60
Level 2 \| Money market funds
Assets:
Cash and cash equivalents	0	0
Level 3
Assets:
Equity and other securities	0	0
Derivative instruments	0	0
Total assets	0	0
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Level 3 \| Money market funds
Assets:
Cash and cash equivalents	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Additional Information (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 01, 2019	Feb. 01, 2019
Fair Value Disclosures [Abstract]
Deferred compensation plan assets	$ 239	$ 192
Carrying Value	827	671
Deferred compensation liability	239	$ 192
Equity securities, upward price adjustment	88
Equity securities, downward price adjustment	$ 12

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Carrying Value and Estimated Fair Value of Outstanding Debt (Details) - USD ($) $ in Billions	Nov. 01, 2019	Feb. 01, 2019
Carrying Value \| Senior Secured Credit Facilities \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	$ 8.9	$ 12.5
Carrying Value \| First Lien Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	20.5	19.8
Carrying Value \| Unsecured Notes and Debentures \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	1.2	1.8
Carrying Value \| Senior Notes \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	2.6	3.1
Carrying Value \| EMC Notes \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	3.0	3.0
Carrying Value \| VMware Notes and VMware Term Loan Facility \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	4.6	4.0
Carrying Value \| Margin Loan Facility \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	4.0	3.3
Fair Value \| Senior Secured Credit Facilities \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	9.0	12.6
Fair Value \| First Lien Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	23.3	21.0
Fair Value \| Unsecured Notes and Debentures \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	1.4	1.9
Fair Value \| Senior Notes \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	2.8	3.4
Fair Value \| EMC Notes \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	3.0	2.9
Fair Value \| VMware Notes and VMware Term Loan Facility \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	4.7	3.9
Fair Value \| Margin Loan Facility \| Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	$ 4.0	$ 3.4

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Investments (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Equity and other securities
Carrying Value	$ 827	$ 671
Long-Term Investments
Equity and other securities
Cost	776	638
Unrealized Gain	94	539
Unrealized (Loss)	(32)	(172)
Carrying Value	$ 838	$ 1,005

FINANCIAL SERVICES - Additional Information (Narrative) (Details)		3 Months Ended		9 Months Ended
	Oct. 17, 2019 EUR (€)	Nov. 01, 2019 USD ($)	Nov. 02, 2018 USD ($)	Nov. 01, 2019 USD ($)	Nov. 02, 2018 USD ($)	Mar. 20, 2019 USD ($)	Feb. 01, 2019 USD ($)	Jun. 22, 2016 USD ($)	Jun. 01, 2016 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
New financing originations		$ 2,000,000,000.0	$ 1,600,000,000	$ 5,700,000,000	$ 5,200,000,000
Interest income on the sales-type lease receivables		66,000,000		196,000,000
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Operating lease income		63,000,000		94,000,000
Debt outstanding		53,026,000,000		53,026,000,000			$ 54,239,000,000
Financing receivables sold				406,000,000	590,000,000
Variable Interest Entity, Primary Beneficiary
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Financing receivables transferred via securitization through SPEs		1,300,000,000	$ 1,200,000,000	4,100,000,000	$ 3,700,000,000
Debt outstanding		5,700,000,000		5,700,000,000			4,800,000,000
Note payable
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Aggregate principal amount		198,000,000		$ 198,000,000
Note payable \| LIBOR
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Basis spread on variable rate				2.25%
Note payable \| Mexico, Pesos \| TIIE
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Basis spread on variable rate				2.00%
Secured Debt
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Aggregate principal amount						$ 4,500,000,000			$ 20,000,000,000.0
Secured Debt \| Other \| Canada
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Total debt capacity		285,000,000		$ 285,000,000
Secured Debt \| Other \| Europe
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Total debt capacity		669,000,000		669,000,000
Secured Debt \| Other \| Australia and New Zealand
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Total debt capacity		193,000,000		193,000,000
Unsecured Debt
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Aggregate principal amount								$ 3,250,000,000
Unsecured Debt \| Dell Bank Bonds
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Aggregate principal amount \| €	€ 500,000,000
Interest rate	0.625%
Debt instrument, term	3 years
Assets Leased to Others
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Operating lease depreciation expense		$ 40,000,000		$ 64,000,000
Minimum \| Secured Debt \| Fixed-term securitization offerings
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Interest rate		1.91%		1.91%
Maximum \| Secured Debt \| Fixed-term securitization offerings
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Interest rate		3.85%		3.85%
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				12 months
Fixed-term
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Fiscal 2020							2,600,000,000
Fiscal 2021							1,700,000,000
Fiscal 2022							900,000,000
Fiscal 2023							300,000,000
Fiscal 2024 and beyond							$ 100,000,000
Fixed-term \| Secured Debt \| Securitization facilities \| International
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Total debt capacity		$ 892,000,000		$ 892,000,000
Fixed-term \| Minimum \| Commercial Borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				2 years
Fixed-term \| Minimum \| Other Borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				3 years
Fixed-term \| Maximum \| Commercial Borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				4 years
Fixed-term \| Maximum \| Other Borrower
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				5 years
Finance Leases and Revolving Loan Portfolio Segments \| Secured Debt \| Securitization facilities \| U.S.
Capital Leases, Future Minimum Payments Receivable, Fiscal Year Maturity [Abstract]
Total debt capacity		$ 4,000,000,000.0		$ 4,000,000,000.0

FINANCIAL SERVICES - Schedule of Components of the Company's Financing Receivables Segregated by Portfolio Segment (Details) - USD ($) $ in Millions	Nov. 01, 2019	Aug. 02, 2019	Feb. 01, 2019	Nov. 02, 2018	Aug. 03, 2018	Feb. 02, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	$ 9,054		$ 8,622
Short-term	4,589		4,398
Long-term	4,465		4,224
Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	8,587		8,084
Allowances for losses	(144)	$ (138)	(136)	$ (126)	$ (126)	$ (145)
Financing receivables, net	8,443		7,948
Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	611		674
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	708		760
Short-term	708		760
Long-term	0		0
Revolving \| Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	774		835
Allowances for losses	(66)	(67)	(75)	(73)	(75)	(81)
Financing receivables, net	708		760
Revolving \| Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	0		0
Fixed-term
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	8,346		7,862
Short-term	3,881		3,638
Long-term	4,465		4,224
Fixed-term \| Customer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	7,813		7,249
Allowances for losses	(78)	$ (71)	(61)	$ (53)	$ (51)	$ (64)
Financing receivables, net	7,735		7,188
Fixed-term \| Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	$ 611		$ 674

FINANCIAL SERVICES - Schedule of Changes in the Allowance for Financing Receivable Losses (Details) - Customer receivables - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	$ 138	$ 126	$ 136	$ 145
Charge-offs, net of recoveries	(24)	(23)	(71)	(79)
Provision charged to income statement	30	23	79	60
Balances at end of period	144	126	144	126
Revolving
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	67	75	75	81
Charge-offs, net of recoveries	(18)	(19)	(53)	(58)
Provision charged to income statement	17	17	44	50
Balances at end of period	66	73	66	73
Fixed-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	71	51	61	64
Charge-offs, net of recoveries	(6)	(4)	(18)	(21)
Provision charged to income statement	13	6	35	10
Balances at end of period	$ 78	$ 53	$ 78	$ 53

FINANCIAL SERVICES - Aging Customer Financing Receivables, Gross, Including Accrued Interest (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Customer receivables
Financing Receivable, Past Due [Line Items]
Current	$ 7,498	$ 7,020
Total customer receivables, gross	8,587	8,084
Revolving \| Customer receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	774	835
Revolving \| Revolving — DPA
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	592	657
Revolving \| Revolving — DPA \| Customer receivables
Financing Receivable, Past Due [Line Items]
Current	524	583
Total customer receivables, gross	592	657
Revolving \| Revolving — DBC
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	182	178
Revolving \| Revolving — DBC \| Customer receivables
Financing Receivable, Past Due [Line Items]
Current	161	155
Total customer receivables, gross	182	178
Fixed-term \| Customer receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	7,813	7,249
Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	7,813	7,249
Fixed-term \| Fixed-term — Consumer and Commercial \| Customer receivables
Financing Receivable, Past Due [Line Items]
Current	6,813	6,282
Total customer receivables, gross	7,813	7,249
Past Due 1 — 90 Days \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	980	950
Past Due 1 — 90 Days \| Revolving \| Revolving — DPA \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	49	53
Past Due 1 — 90 Days \| Revolving \| Revolving — DBC \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	17	19
Past Due 1 — 90 Days \| Fixed-term \| Fixed-term — Consumer and Commercial \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	914	878
Past Due 90 Days \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	109	114
Past Due 90 Days \| Revolving \| Revolving — DPA \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	19	21
Past Due 90 Days \| Revolving \| Revolving — DBC \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	4	4
Past Due 90 Days \| Fixed-term \| Fixed-term — Consumer and Commercial \| Customer receivables
Financing Receivable, Past Due [Line Items]
Past due	$ 86	$ 89

FINANCIAL SERVICES - Credit Quality Indicators (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	$ 592	$ 657
Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	182	178
Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	7,813	7,249
Higher \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	124	128
Higher \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	47	47
Higher \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	4,494	3,980
Mid \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	173	192
Mid \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	56	54
Mid \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	1,995	1,984
Lower \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	295	337
Lower \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	79	77
Lower \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Customer receivables, gross	$ 1,324	$ 1,285

FINANCIAL SERVICES - Finance Leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Nov. 01, 2019	Nov. 01, 2019
Receivables [Abstract]
Net revenue — products	$ 251	$ 604
Cost of net revenue — products	215	475
Gross margin — products	$ 36	$ 129

FINANCIAL SERVICES - Finance Leases Future Maturity (Details) $ in Millions	Nov. 01, 2019 USD ($)
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Fiscal 2020 (remaining three months)	$ 850
Fiscal 2021	2,272
Fiscal 2022	1,487
Fiscal 2023	693
Fiscal 2024 and beyond	273
Total undiscounted cash flows	5,575
Less: unearned income	(517)
Total customer receivables, gross	8,587
Fixed-term loans
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Total customer receivables, gross	2,755
Revolving loans
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Total customer receivables, gross	$ 774

FINANCIAL SERVICES - Operating Leases (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Equipment under operating lease, net	$ 5,787	$ 5,259
Assets Leased to Others
Accounts, Notes, Loans and Financing Receivable [Line Items]
Equipment under operating lease, gross	699
Less: accumulated depreciation	(73)
Equipment under operating lease, net	$ 626

FINANCIAL SERVICES - Future Maturities (Details) $ in Millions	Nov. 01, 2019 USD ($)
Operating Leases
Fiscal 2020 (remaining three months)	$ 73
Fiscal 2021	250
Fiscal 2022	229
Fiscal 2023	123
Fiscal 2024 and beyond	10
Total	$ 685

FINANCIAL SERVICES - DFS Debt (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	$ 52,391	$ 53,521
Short-term debt	7,664	4,320
Long-term debt	44,727	49,201
Secured Debt \| U.S. \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	5,205	4,440
Secured Debt \| International \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	2,363	1,489
Securitization facilities \| Secured Debt \| U.S. \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	2,019	1,914
Securitization facilities \| Secured Debt \| International \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	716	584
Fixed-term securitization offerings \| Secured Debt \| U.S. \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	3,003	2,303
Other \| Secured Debt \| U.S. \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	183	223
Other \| Secured Debt \| International \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	893	708
Note payable \| Secured Debt \| International \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	198	197
Dell Bank Senior Unsecured Eurobonds \| Unsecured Debt \| International \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	556	0
DFS Debt \| Secured Debt
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	7,568	5,929
Short-term debt	3,576	3,113
Long-term debt	$ 3,992	$ 2,816

FINANCIAL SERVICES - Schedule of Financing Receivables Held by the Consolidated VIEs (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs, net	$ 6,361	$ 5,448
Short-term, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs, net	3,212	2,940
Long-term, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs, net	$ 3,149	$ 2,508

LEASES - Narrative (Details) $ in Millions	9 Months Ended
LEASES - Narrative (Details) $ in Millions	Nov. 01, 2019 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease not yet commenced	$ 665
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Term of lease contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	27 years
Term of lease contract	16 years

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Nov. 01, 2019	Nov. 01, 2019
Operating lease expense:
Operating lease costs	$ 134	$ 377
Variable costs	41	120
Total lease costs	$ 175	$ 497

LEASES - Supplemental Information Related to Operating Leases (Details) $ in Millions	Nov. 01, 2019 USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 1,752
Current operating lease liabilities	428
Non-current operating lease liabilities	1,336
Total operating lease liabilities	$ 1,764
Weighted-average remaining lease term (in years)	8 years 8 months 23 days
Weighted-average discount rate	3.94%

LEASES - Supplemental Cash Flow Information (Details) $ in Millions	9 Months Ended
	Nov. 01, 2019 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$ 367
ROU assets obtained in exchange for new operating lease liabilities	$ 495

LEASES - Maturity of Operating Leases (Details) $ in Millions	Nov. 01, 2019 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Fiscal 2020 (remaining three months)	$ 104
Fiscal 2021	455
Fiscal 2022	360
Fiscal 2023	277
Fiscal 2024	181
Thereafter	772
Total lease payments	2,149
Less: Imputed interest	(385)
Total operating lease liabilities	1,764
Current operating lease liabilities	428
Non-current operating lease liabilities	$ 1,336

LEASES - Future Minimum Lease Payments (Details) $ in Millions	Feb. 01, 2019 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Fiscal 2020	$ 371
Fiscal 2021	314
Fiscal 2022	240
Fiscal 2023	175
Fiscal 2024	113
Thereafter	643
Total	$ 1,856

DEBT - Outstanding debt (Details) - USD ($) $ in Millions	Nov. 01, 2019	Mar. 20, 2019	Feb. 01, 2019	Sep. 07, 2016
Debt Instrument [Line Items]
Total debt, principal amount	$ 53,026		$ 54,239
Unamortized discount, net of unamortized premium	(246)		(271)
Debt issuance costs	(389)		(447)
Total debt, carrying value	52,391		53,521
Total short-term debt, carrying value	7,664		4,320
Total long-term debt, carrying value	44,727		49,201
DFS Debt
Debt Instrument [Line Items]
Total debt, principal amount	7,568
4.18% Margin Loan Facility due April 2022
Debt Instrument [Line Items]
Total debt, principal amount	4,000
Secured Debt \| 4.24% Term Loan B Facility due September 2023
Debt Instrument [Line Items]
Total debt, principal amount	$ 0		4,938
Interest rate at period end	4.24%
Secured Debt \| 3.79% Term Loan B-1 Facility due September 2025
Debt Instrument [Line Items]
Total debt, principal amount	$ 4,750		0
Interest rate at period end	3.79%
Secured Debt \| 4.16% Term Loan A-2 Facility due September 2021
Debt Instrument [Line Items]
Total debt, principal amount	$ 0		4,116
Interest rate at period end	4.16%
Secured Debt \| 3.54% Term Loan A-4 Facility due December 2023
Debt Instrument [Line Items]
Total debt, principal amount	$ 679		1,650
Interest rate at period end	3.54%
Secured Debt \| 4.25% Term Loan A-5 Facility due December 2019
Debt Instrument [Line Items]
Total debt, principal amount	$ 0		2,016
Interest rate at period end	4.25%
Secured Debt \| 3.60% Term Loan A-6 Facility due March 2024
Debt Instrument [Line Items]
Total debt, principal amount	$ 3,543		0
Interest rate at period end	3.60%
Secured Debt \| 3.48% due June 2019
Debt Instrument [Line Items]
Total debt, principal amount	$ 0		3,750
Interest rate	3.48%	3.48%
Secured Debt \| 4.42% due June 2021
Debt Instrument [Line Items]
Total debt, principal amount	$ 4,500		4,500
Interest rate	4.42%
Secured Debt \| 5.45% due June 2023
Debt Instrument [Line Items]
Total debt, principal amount	$ 3,750		3,750
Interest rate	5.45%
Secured Debt \| 4.00% due July 2024
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,000		0
Interest rate	4.00%	4.00%
Secured Debt \| 6.02% due June 2026
Debt Instrument [Line Items]
Total debt, principal amount	$ 4,500		4,500
Interest rate	4.90%	4.90%
Secured Debt \| 4.90% due October 2026
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,750		0
Interest rate	6.02%
Secured Debt \| 5.30% due October 2029
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,750		0
Interest rate	5.30%	5.30%
Secured Debt \| 8.10% due July 2036
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,500		1,500
Interest rate	8.10%
Secured Debt \| 8.35% due July 2046
Debt Instrument [Line Items]
Total debt, principal amount	$ 2,000		2,000
Interest rate	8.35%
Secured Debt \| DFS Debt
Debt Instrument [Line Items]
Total debt, principal amount			5,929
Total debt, carrying value	$ 7,568		5,929
Total short-term debt, carrying value	3,576		3,113
Total long-term debt, carrying value	3,992		2,816
Unsecured Debt \| 5.875% due June 2019
Debt Instrument [Line Items]
Total debt, principal amount	$ 0		600
Interest rate	5.875%
Unsecured Debt \| 4.625% due April 2021
Debt Instrument [Line Items]
Total debt, principal amount	$ 400		400
Interest rate	4.625%
Unsecured Debt \| 7.10% due April 2028
Debt Instrument [Line Items]
Total debt, principal amount	$ 300		300
Interest rate	7.10%
Unsecured Debt \| 6.50% due April 2038
Debt Instrument [Line Items]
Total debt, principal amount	$ 388		388
Interest rate	6.50%
Unsecured Debt \| 5.40% due September 2040
Debt Instrument [Line Items]
Total debt, principal amount	$ 264		264
Interest rate	5.40%
Unsecured Debt \| 5.875% due June 2021
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,075		1,625
Interest rate	5.875%
Unsecured Debt \| 7.125% due June 2024
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,625		1,625
Interest rate	7.125%
Unsecured Debt \| 2.650% due June 2020
Debt Instrument [Line Items]
Total debt, principal amount	$ 2,000		2,000	$ 2,000
Interest rate	2.65%			2.65%
Unsecured Debt \| 3.375% due June 2023
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,000		1,000	$ 1,000
Interest rate	3.375%			3.375%
Unsecured Debt \| 2.30% due August 2020
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,250		1,250
Interest rate	2.30%
Unsecured Debt \| 2.95% due August 2022
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,500		1,500
Interest rate	2.95%
Unsecured Debt \| 3.90% due August 2027
Debt Instrument [Line Items]
Total debt, principal amount	$ 1,250		1,250
Interest rate	3.90%
Unsecured Debt \| VMware Term Loan Facility
Debt Instrument [Line Items]
Total debt, principal amount	$ 600		0
Other
Debt Instrument [Line Items]
Total debt, principal amount	84		38
Other \| 4.18% Margin Loan Facility due April 2022
Debt Instrument [Line Items]
Total debt, principal amount	$ 4,000		$ 3,350
Interest rate at period end	4.18%

DEBT - Additional Information (Details) shares in Millions										3 Months Ended		9 Months Ended
DEBT - Additional Information (Details) shares in Millions	Sep. 26, 2019 USD ($) debt_issuance	Sep. 19, 2019 USD ($)	May 03, 2019 USD ($)	Mar. 20, 2019 USD ($)	Mar. 13, 2019 USD ($)	Dec. 28, 2018 USD ($)	Sep. 12, 2017 USD ($) option_period	Apr. 12, 2017 USD ($) shares	Jun. 01, 2016 USD ($)	Nov. 01, 2019 USD ($)	May 03, 2019 USD ($)	Nov. 01, 2019 USD ($)	Nov. 02, 2018 USD ($)	Mar. 07, 2019 USD ($)	Feb. 01, 2019 USD ($)	Dec. 20, 2018 USD ($)	Sep. 07, 2017 USD ($)	Aug. 21, 2017 USD ($)	Sep. 07, 2016 USD ($)	Jun. 22, 2016 USD ($)
Debt Instrument [Line Items]
Repayments of debt												$ 18,948,000,000	$ 9,669,000,000
Total debt, principal amount										$ 53,026,000,000		53,026,000,000			$ 54,239,000,000
Proceeds from credit facility												17,656,000,000	$ 6,443,000,000
Third-party costs			$ 74,500,000							5,900,000	$ 74,500,000	5,900,000
Unamortized costs										1,500,000	32,300,000
Third Party
Debt Instrument [Line Items]
Unamortized costs										5,100,000	7,100,000
Structured financing debt
Debt Instrument [Line Items]
Total debt, principal amount										7,568,000,000		7,568,000,000
4.18% Margin Loan Facility due April 2022
Debt Instrument [Line Items]
Total debt, principal amount										4,000,000,000		4,000,000,000
VMware Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, principal amount										0		0
Maximum borrowing capacity							$ 1,000,000,000.0			4,500,000,000		4,500,000,000
Debt instrument, term							5 years
Number of extension periods \| option_period							2
Conditional extension period							1 year
VMware, Inc. \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,000,000,000.0
Debt issuances available \| debt_issuance	2
Remaining borrowing capacity										1,400,000,000		1,400,000,000
Proceeds from lines of credit										2,000,000,000.0
Repayments of lines of credit										1,400,000,000
VMware, Inc. \| LIBOR \| Minimum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
VMware, Inc. \| LIBOR \| Maximum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
VMware, Inc. \| Base Rate \| Minimum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
VMware, Inc. \| Base Rate \| Maximum \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
China Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, principal amount										$ 0		0
Maximum borrowing capacity			$ 500,000,000								500,000,000
China Revolving Credit Facility \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate			0.60%
Pivotal Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity																	$ 100,000,000
Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal amount																				$ 3,250,000,000
Unsecured Debt \| 5.875% due June 2021
Debt Instrument [Line Items]
Repayments of debt												$ 550,000,000
Interest rate										5.875%		5.875%
Total debt, principal amount										$ 1,075,000,000		$ 1,075,000,000			1,625,000,000
Unsecured Debt \| 5.875% due June 2019
Debt Instrument [Line Items]
Repayments of debt												$ 600,000,000
Interest rate										5.875%		5.875%
Total debt, principal amount										$ 0		$ 0			600,000,000
Unsecured Debt \| 3.54% Term Loan A-4 Facility due December 2023
Debt Instrument [Line Items]
Repayments of debt												950,000,000
Unsecured Debt \| Term Loan Facilities
Debt Instrument [Line Items]
Repayments of debt												136,000,000
Unsecured Debt \| VMware, Inc.
Debt Instrument [Line Items]
Total debt, principal amount										$ 600,000,000		$ 600,000,000			0
Unsecured Debt \| 1.875% due June 2018
Debt Instrument [Line Items]
Interest rate																			1.875%
Total debt, principal amount																			$ 2,500,000,000
Unsecured Debt \| 2.650% due June 2020
Debt Instrument [Line Items]
Interest rate										2.65%		2.65%							2.65%
Total debt, principal amount										$ 2,000,000,000		$ 2,000,000,000			2,000,000,000				$ 2,000,000,000.0
Unsecured Debt \| 3.375% due June 2023
Debt Instrument [Line Items]
Interest rate										3.375%		3.375%							3.375%
Total debt, principal amount										$ 1,000,000,000		$ 1,000,000,000			1,000,000,000				$ 1,000,000,000.0
Unsecured Debt \| 2.30% due August 2020
Debt Instrument [Line Items]
Interest rate										2.30%		2.30%
Total debt, principal amount										$ 1,250,000,000		$ 1,250,000,000			1,250,000,000
Unsecured Debt \| 2.95% due August 2022
Debt Instrument [Line Items]
Interest rate										2.95%		2.95%
Total debt, principal amount										$ 1,500,000,000		$ 1,500,000,000			1,500,000,000
Unsecured Debt \| 3.90% due August 2027
Debt Instrument [Line Items]
Interest rate										3.90%		3.90%
Total debt, principal amount										$ 1,250,000,000		$ 1,250,000,000			1,250,000,000
Line of Credit \| Merger Agreement
Debt Instrument [Line Items]
Repayments of debt					$ 5,000,000,000
Line of Credit \| 3.54% Term Loan A-4 Facility due December 2023 \| First Four Years After December 20, 2018
Debt Instrument [Line Items]
Annual principal amortization												5.00%
Line of Credit \| 3.54% Term Loan A-4 Facility due December 2023 \| Fifth Year After December 20, 2018
Debt Instrument [Line Items]
Annual principal amortization												80.00%
Line of Credit \| 4.24% Term Loan B Facility due September 2023
Debt Instrument [Line Items]
Repayments of debt												$ 162,500,000
Line of Credit \| Term Loan A-2 Facility
Debt Instrument [Line Items]
Repayments of debt					1,277,000,000
Line of Credit \| 4.16% Term Loan A-2 Facility due September 2021
Debt Instrument [Line Items]
Repayments of debt											$ 550,000,000
Total debt, principal amount					2,839,000,000
Line of Credit \| 3.60% Term Loan A-6 Facility due March 2024
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 3,634,000,000
Proceeds from issuance of debt				$ 800,000,000
Line of Credit \| Term Loan B-1 Facility Due September 2025
Debt Instrument [Line Items]
Aggregate principal amount		$ 4,750,000,000
Line of Credit \| Term Loan B-1 Facility
Debt Instrument [Line Items]
Annual principal amortization												1.00%
Line of Credit \| Term Loan A-6 Facility \| First Four Years After March 13, 2019
Debt Instrument [Line Items]
Annual principal amortization												5.00%
Line of Credit \| Term Loan A-6 Facility \| Fifth Year After March 13, 2019
Debt Instrument [Line Items]
Annual principal amortization												80.00%
Secured Debt
Debt Instrument [Line Items]
Aggregate principal amount				$ 4,500,000,000					$ 20,000,000,000.0
Debt, maximum period for registration									5 years
Secured Debt \| 3.54% Term Loan A-4 Facility due December 2023
Debt Instrument [Line Items]
Total debt, principal amount										679,000,000		$ 679,000,000			1,650,000,000
Secured Debt \| 4.24% Term Loan B Facility due September 2023
Debt Instrument [Line Items]
Repayments of debt		$ 4,913,000,000
Total debt, principal amount										0		0			4,938,000,000
Secured Debt \| Structured financing debt
Debt Instrument [Line Items]
Total debt, principal amount															5,929,000,000
Proceeds from credit facility												1,600,000,000
Secured Debt \| 4.16% Term Loan A-2 Facility due September 2021
Debt Instrument [Line Items]
Total debt, principal amount										0		0			4,116,000,000
Secured Debt \| 3.60% Term Loan A-6 Facility due March 2024
Debt Instrument [Line Items]
Total debt, principal amount										$ 3,543,000,000		$ 3,543,000,000			0
Secured Debt \| 4.00% due July 2024
Debt Instrument [Line Items]
Interest rate				4.00%						4.00%		4.00%
Total debt, principal amount										$ 1,000,000,000		$ 1,000,000,000			0
Aggregate principal amount				$ 1,000,000,000
Secured Debt \| 6.02% due June 2026
Debt Instrument [Line Items]
Interest rate				4.90%						4.90%		4.90%
Total debt, principal amount										$ 4,500,000,000		$ 4,500,000,000			4,500,000,000
Aggregate principal amount				$ 1,750,000,000
Secured Debt \| 5.30% due October 2029
Debt Instrument [Line Items]
Interest rate				5.30%						5.30%		5.30%
Total debt, principal amount										$ 1,750,000,000		$ 1,750,000,000			0
Aggregate principal amount				$ 1,750,000,000
Secured Debt \| 3.48% due June 2019
Debt Instrument [Line Items]
Repayments of debt				$ 3,750,000,000
Secured Debt \| 3.48% due June 2019
Debt Instrument [Line Items]
Interest rate				3.48%						3.48%		3.48%
Total debt, principal amount										$ 0		$ 0			3,750,000,000
Secured Debt \| Term Loan B-1 Facility Due September 2025
Debt Instrument [Line Items]
Total debt, principal amount										4,750,000,000		$ 4,750,000,000			$ 0
Secured Debt \| Term Loan B-1 Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate												2.00%
Secured Debt \| Term Loan B-1 Facility \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate												1.00%
Secured Debt \| Term Loan A-4 Facility And Term Loan A-6 Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate												1.25%
Secured Debt \| Term Loan A-4 Facility And Term Loan A-6 Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate												2.00%
Secured Debt \| Term Loan A-4 Facility And Term Loan A-6 Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate												0.25%
Secured Debt \| Term Loan A-4 Facility And Term Loan A-6 Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate												1.00%
Secured Debt \| 3.33% Revolving Credit Facility due September 2021
Debt Instrument [Line Items]
Debt instrument, collateral, percent of capital stock of borrowers												100.00%
Other \| Merger Agreement
Debt Instrument [Line Items]
Proceeds from issuance of debt						$ 1,350,000,000
Other \| 4.18% Margin Loan Facility due April 2022
Debt Instrument [Line Items]
Increase in aggregate principal amount														$ 650,000,000
Maximum borrowing capacity								$ 2,000,000,000.0								$ 3,350,000,000
Other \| 4.18% Margin Loan Facility due April 2022 \| Class B
Debt Instrument [Line Items]
Debt instrument, collateral (in shares) \| shares								60
Other \| 4.18% Margin Loan Facility due April 2022 \| Class A
Debt Instrument [Line Items]
Debt instrument, collateral (in shares) \| shares								20
Other \| 4.18% Margin Loan Facility due April 2022 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate								2.25%
Other \| 4.18% Margin Loan Facility due April 2022 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate								1.25%
Other \| Senior Secured Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity										400,000,000		$ 400,000,000
Other \| Term Loan A-6 Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 4,000,000,000.0
Letter of Credit \| Senior Secured Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 500,000,000		$ 500,000,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount																		$ 4,000,000,000.0
Senior Notes \| 2.30% due August 2020
Debt Instrument [Line Items]
Interest rate																		2.30%
Aggregate principal amount																		$ 1,250,000,000
Senior Notes \| 2.95% due August 2022
Debt Instrument [Line Items]
Interest rate																		2.95%
Aggregate principal amount																		$ 1,500,000,000
Senior Notes \| 3.90% due August 2027
Debt Instrument [Line Items]
Interest rate																		3.90%
Aggregate principal amount																		$ 1,250,000,000

DEBT - Aggregate future maturities (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Total maturities, principal amount
2020 (remaining three months)	$ 1,351
2021	7,666
2022	7,617
2023	6,992
2024	7,793
Thereafter	21,607
Total debt, principal amount	53,026	$ 54,239
Associated carrying value adjustments
2020 (remaining three months)	0
2021	(8)
2022	(57)
2023	(26)
2024	(53)
Thereafter	(491)
Total	(635)
Total maturities, carrying value amount
2020 (remaining three months)	1,351
2021	7,658
2022	7,560
2023	6,966
2024	7,740
Thereafter	21,116
Total debt, carrying value	52,391	$ 53,521
Senior Secured Credit Facilities and First Lien Notes
Total maturities, principal amount
2020 (remaining three months)	91
2021	184
2022	4,717
2023	286
2024	6,702
Thereafter	17,742
Total debt, principal amount	29,722
Unsecured Notes and Debentures
Total maturities, principal amount
2020 (remaining three months)	0
2021	0
2022	400
2023	0
2024	0
Thereafter	952
Total debt, principal amount	1,352
Senior Notes and EMC Notes
Total maturities, principal amount
2020 (remaining three months)	0
2021	2,000
2022	1,075
2023	0
2024	1,000
Thereafter	1,625
Total debt, principal amount	5,700
VMware Notes
Total maturities, principal amount
2020 (remaining three months)	0
2021	1,850
2022	0
2023	1,500
2024	0
Thereafter	1,250
Total debt, principal amount	4,600
DFS Debt
Total maturities, principal amount
2020 (remaining three months)	1,249
2021	3,611
2022	1,418
2023	1,198
2024	84
Thereafter	8
Total debt, principal amount	7,568
Margin Loan Facility
Total maturities, principal amount
2020 (remaining three months)	0
2021	0
2022	0
2023	4,000
2024	0
Thereafter	0
Total debt, principal amount	4,000
Other
Total maturities, principal amount
2020 (remaining three months)	11
2021	21
2022	7
2023	8
2024	7
Thereafter	30
Total debt, principal amount	$ 84

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Narrative) (Details)	9 Months Ended
	Nov. 01, 2019
Foreign Exchange Forward and Option \| Designated as cash flow hedging instruments
Derivative [Line Items]
Term of derivative contract	12 months
Foreign Exchange Forward \| Not Designated as Hedging Instrument
Derivative [Line Items]
Term of derivative contract	3 months
Foreign Exchange Forward \| Not Designated as Hedging Instrument \| Financing receivables
Derivative [Line Items]
Term of derivative contract	3 years
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivative [Line Items]
Term of derivative contract	5 years
Interest Rate Swap \| Not Designated as Hedging Instrument \| Structured financing debt
Derivative [Line Items]
Term of derivative contract	3 years
Cross Currency Interest Rate Contract \| Not Designated as Hedging Instrument
Derivative [Line Items]
Term of derivative contract	5 years

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Foreign exchange contracts
Derivative [Line Items]
Notional amount	$ 15,284	$ 13,702
Foreign exchange contracts \| Designated as cash flow hedging instruments
Derivative [Line Items]
Notional amount	8,550	7,573
Foreign exchange contracts \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	6,734	6,129
Interest rate contracts \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	$ 3,715	$ 2,674

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivative Instruments on the Condensed Consolidated Statements of Financial Position and the Condensed Consolidated Statements of Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	$ (47)	$ 73	$ 210	$ 314
Gain (Loss) Reclassified from Accumulated OCI into Income	71	76	197	122
Gain (Loss) Recognized in Income	14	19	(67)	52
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	(47)	73	210	314
Foreign exchange contracts \| Total net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	71	76	197	122
Foreign exchange contracts \| Total cost of net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	0	0	0	0
Foreign exchange contracts \| Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	13	18	(46)	50
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	0	0	0	0
Interest rate contracts \| Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	0	0	0	0
Gain (Loss) Recognized in Income	$ 1	$ 1	$ (21)	$ 2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Derivative Instruments in the Condensed Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Derivatives, Fair Value [Line Items]
Asset position	$ 319	$ 312
Liability position	(267)	(275)
Gross Amounts of Recognized Assets/ (Liabilities)	52	37
Other Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	118	94
Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	1	3
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(40)	(49)
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(27)	(11)
Designated as cash flow hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	55	35
Designated as cash flow hedging instruments \| Other Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	66	26
Designated as cash flow hedging instruments \| Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	0	0
Designated as cash flow hedging instruments \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(11)	9
Designated as cash flow hedging instruments \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	0	0
Designated as cash flow hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset position	101	74
Liability position	(46)	(39)
Designated as cash flow hedging instruments \| Foreign exchange contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	90	45
Liability position	(24)	(19)
Designated as cash flow hedging instruments \| Foreign exchange contracts \| Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Designated as cash flow hedging instruments \| Foreign exchange contracts \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	11	29
Liability position	(22)	(20)
Designated as cash flow hedging instruments \| Foreign exchange contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(3)	2
Non-designated as hedging instruments \| Other Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	52	68
Non-designated as hedging instruments \| Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	1	3
Non-designated as hedging instruments \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(29)	(58)
Non-designated as hedging instruments \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/ (Liabilities)	(27)	(11)
Non-designated as hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset position	217	235
Liability position	(197)	(227)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	176	178
Liability position	(124)	(110)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	41	57
Liability position	(70)	(115)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	(3)	(2)
Non-designated as hedging instruments \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset position	1	3
Liability position	(24)	(9)
Non-designated as hedging instruments \| Interest rate contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments \| Interest rate contracts \| Other Non- Current Assets
Derivatives, Fair Value [Line Items]
Asset position	1	3
Liability position	0	0
Non-designated as hedging instruments \| Interest rate contracts \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments \| Interest rate contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	$ (24)	$ (9)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Gross amounts of derivative instruments, amounts offset due to master netting agreements (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Financial assets
Gross Amounts of Recognized Assets/ (Liabilities)	$ 319	$ 312
Gross Amounts Offset in the Statement of Financial Position	(200)	(215)
Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position	119	97
Financial Instruments	0	0
Cash Collateral Received or Pledged	0	0
Net Amount	119	97
Financial liabilities
Gross Amounts of Recognized Assets/ (Liabilities)	(267)	(275)
Gross Amounts Offset in the Statement of Financial Position	200	215
Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position	(67)	(60)
Financial Instruments	0	0
Cash Collateral Received or Pledged	11	4
Net Amount	(56)	(56)
Total derivative instruments
Gross Amounts of Recognized Assets/ (Liabilities)	52	37
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position	52	37
Financial Instruments	0	0
Cash Collateral Received or Pledged	11	4
Net Amount	$ 63	$ 41

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Millions	9 Months Ended
	Nov. 01, 2019 USD ($)
Goodwill [Roll Forward]
Goodwill	$ 40,089
Goodwill acquired	1,909
Impact of foreign currency translation	(103)
Goodwill impaired	(207)
Goodwill	41,688
Infrastructure Solutions Group
Goodwill [Roll Forward]
Goodwill	15,199
Goodwill acquired	0
Impact of foreign currency translation	(92)
Goodwill impaired	0
Goodwill	15,107
Client Solutions Group
Goodwill [Roll Forward]
Goodwill	4,237
Goodwill acquired	0
Impact of foreign currency translation	0
Goodwill impaired	0
Goodwill	4,237
VMware
Goodwill [Roll Forward]
Goodwill	16,419
Goodwill acquired	1,909
Impact of foreign currency translation	0
Goodwill impaired	0
Goodwill	18,328
Other Businesses
Goodwill [Roll Forward]
Goodwill	4,234
Goodwill acquired	0
Impact of foreign currency translation	(11)
Goodwill impaired	(207)
Goodwill	$ 4,016

GOODWILL AND INTANGIBLE ASSETS - VMware Acquisitions (Details)		3 Months Ended			9 Months Ended
	Oct. 08, 2019 USD ($) $ / shares shares	Nov. 01, 2019 USD ($) acquisition	Aug. 02, 2019 USD ($)	May 03, 2019 USD ($)	Nov. 01, 2019 USD ($)	Nov. 02, 2018 USD ($)	Feb. 01, 2019 USD ($)
Business Acquisition [Line Items]
Payments to acquire businesses, net					$ 2,429,000,000	$ 493,000,000
Goodwill		$ 41,688,000,000			41,688,000,000		$ 40,089,000,000
VMware
Business Acquisition [Line Items]
Goodwill		18,328,000,000			18,328,000,000		$ 16,419,000,000
VMware \| Carbon Black, Inc.
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares	$ 26.00
Payments to acquire businesses, net	$ 2,000,000,000.0
Cash acquired from acquisition	111,000,000
Compensation expense subject to specified future employment conditions amount held by third party agent	$ 18,000,000
Compensation expense subject to specified future employment conditions requisite service period	2 years
Fair value of outstanding share-based compensation awards	$ 181,000,000
Pre-combination service cost amount	$ 10,000,000
Business acquisition exchange of shares ratio (in shares) \| shares	0.2
Goodwill, expected tax deductible amount		0			0
Intangible assets	$ 492,000,000
Goodwill	1,588,000,000
VMware \| Other VMware Inc. Acquisitions
Business Acquisition [Line Items]
Payments to acquire businesses, net		$ 68,000,000
Number of businesses acquired \| acquisition		4
Intangible assets		$ 21,000,000			21,000,000
Goodwill		$ 48,000,000			$ 48,000,000
VMware \| Avi Network, Inc.
Business Acquisition [Line Items]
Payments to acquire businesses, net			$ 326,000,000
Cash acquired from acquisition			9,000,000
Goodwill, expected tax deductible amount			0
Intangible assets			94,000,000
Goodwill			$ 228,000,000
VMware \| AetherPal Inc.
Business Acquisition [Line Items]
Goodwill, expected tax deductible amount				$ 0
Intangible assets				12,000,000
Goodwill				33,000,000
Consideration transferred				$ 45,000,000
Minimum \| VMware \| Other VMware Inc. Acquisitions
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		1 year
Maximum \| VMware \| Other VMware Inc. Acquisitions
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		5 years
Employee Stock And Restricted Stock \| VMware
Business Acquisition [Line Items]
Cost not yet recognized, amount	$ 171,000,000
Weighted-average recognition period of options	3 years

GOODWILL AND INTANGIBLE ASSETS - Schedule of Liabilities Assumed and Assets Acquired (Details) - USD ($) $ in Millions	Nov. 01, 2019	Oct. 08, 2019	Feb. 01, 2019
Business Acquisition [Line Items]
Goodwill	$ 41,688		$ 40,089
VMware, Inc.
Business Acquisition [Line Items]
Goodwill	$ 18,328		$ 16,419
VMware, Inc. \| Carbon Black, Inc.
Business Acquisition [Line Items]
Cash		$ 111
Accounts receivable		58
Intangible assets		492
Goodwill		1,588
Other acquired assets		52
Total assets acquired		2,301
Unearned revenue		151
Other assumed liabilities		45
Total liabilities assumed		196
Fair value of assets acquired and liabilities assumed		$ 2,105

GOODWILL AND INTANGIBLE ASSETS - Finite Lived Intangible Assets (Details) - Carbon Black, Inc. - VMware $ in Millions	Oct. 08, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Fair Value Amount	$ 492
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Lives	4 years 2 months 12 days
Fair Value Amount	$ 232
Customer relationships and customer lists
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Lives	7 years
Fair Value Amount	$ 215
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Lives	5 years
Fair Value Amount	$ 25
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Lives	2 years
Fair Value Amount	$ 20

GOODWILL AND INTANGIBLE ASSETS - Goodwill Impairment Tests (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Aug. 02, 2019	Nov. 01, 2019	Nov. 02, 2018	Feb. 01, 2019	Feb. 03, 2017
Business Acquisition [Line Items]
Goodwill		$ 41,688		$ 40,089
Impairments		619	$ 190
Effective income tax rate		95
Goodwill impaired		207
Other Businesses
Business Acquisition [Line Items]
Goodwill		4,016		$ 4,234
Goodwill impaired		$ 207
Other Businesses \| RSA Security
Business Acquisition [Line Items]
Percentage of fair value over carrying amount		13.00%	11.00%	20.00%
Other Businesses \| Virtustream
Business Acquisition [Line Items]
Goodwill					$ 400
Impairments	$ 619		$ 190
Goodwill, fair value			$ 200
Asset impairment charges net of tax	$ 524
Goodwill impaired		$ 207
Reduction of intangible assets		266
Reduction in property, plant and equipment		$ 146

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018	Feb. 01, 2019
Business Acquisition [Line Items]
Gross	$ 39,956,000,000		$ 39,956,000,000		$ 39,870,000,000
Accumulated Amortization	(24,537,000,000)		(24,537,000,000)		(21,355,000,000)
Total	15,419,000,000		15,419,000,000		18,515,000,000
Total intangible assets	43,711,000,000		43,711,000,000		43,625,000,000
Intangible assets, net	19,174,000,000		19,174,000,000		22,270,000,000
Amortization expense	1,100,000,000	$ 1,500,000,000	3,300,000,000	$ 4,600,000,000
Impairment charges related to intangible assets acquired	0	$ 0
Customer relationships
Business Acquisition [Line Items]
Gross	22,947,000,000		22,947,000,000		22,750,000,000
Accumulated Amortization	(13,319,000,000)		(13,319,000,000)		(11,703,000,000)
Total	9,628,000,000		9,628,000,000		11,047,000,000
Developed technology
Business Acquisition [Line Items]
Gross	15,702,000,000		15,702,000,000		15,701,000,000
Accumulated Amortization	(10,454,000,000)		(10,454,000,000)		(9,036,000,000)
Total	5,248,000,000		5,248,000,000		6,665,000,000
Trade names
Business Acquisition [Line Items]
Gross	1,307,000,000		1,307,000,000		1,291,000,000
Accumulated Amortization	(764,000,000)		(764,000,000)		(606,000,000)
Total	543,000,000		543,000,000		685,000,000
Leasehold assets (liabilities)
Business Acquisition [Line Items]
Gross	0		0		128,000,000
Accumulated Amortization	0		0		(10,000,000)
Total	0		0		118,000,000
Trade names
Business Acquisition [Line Items]
Indefinite-lived trade names	$ 3,755,000,000		$ 3,755,000,000		$ 3,755,000,000

GOODWILL AND INTANGIBLE ASSETS - Amortization Expense (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (remaining three months)	$ 1,074
2021	3,431
2022	2,722
2023	1,838
2024	1,465
Thereafter	4,889
Total	$ 15,419	$ 18,515

DEFERRED REVENUE - Changes in Deferred Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018	Feb. 01, 2019
Deferred revenue:
Deferred revenue at beginning of period	$ 25,348,000,000	$ 21,700,000,000	$ 24,010,000,000	$ 20,816,000,000
Revenue deferrals for new contracts and changes in estimates for pre-existing contracts	5,326,000,000	4,852,000,000	16,201,000,000	14,165,000,000
Revenue recognized	(4,922,000,000)	(4,409,000,000)	(14,459,000,000)	(12,838,000,000)
Other	151,000,000	0	151,000,000	0
Deferred revenue at end of period	25,903,000,000	22,143,000,000	25,903,000,000	22,143,000,000
Short-term deferred revenue	13,787,000,000	12,079,000,000	13,787,000,000	12,079,000,000	$ 12,944,000,000
Long-term deferred revenue	$ 12,116,000,000	$ 10,064,000,000	$ 12,116,000,000	$ 10,064,000,000	$ 11,066,000,000

DEFERRED REVENUE - Remaining Performance Obligation, Expected Timing (Details) $ in Billions	Nov. 01, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation, amount	$ 34
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-11-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	62.00%
Deferred revenue recognition period	12 months

COMMITMENTS AND CONTINGENCIES (Details)	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Nov. 01, 2019 plaintiff
Class V Transaction Class Action Case
Loss Contingencies [Line Items]
Number of stockholders	4

INCOME AND OTHER TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018	Feb. 01, 2019
Operating Loss Carryforwards [Line Items]
Effective income tax rate	(247.20%)	10.10%	5482.10%	9.20%
Pre-tax gains (losses)	$ 159	$ (995)	$ (95)	$ (2,086)
Tax settlement, amount	305
Discrete tax benefit from intra-entity asset transfer			4,900
Tax credit, foreign, amount			273
Discrete tax benefit relating to virtustream impairment charges			95
Discrete tax benefit from adoption of revenue standard				$ 154
Unrecognized tax benefits	2,700		$ 2,700		$ 3,400
Internal revenue service (IRS)
Operating Loss Carryforwards [Line Items]
Settlement amount	$ 438

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
AOCI [Roll Forward]
Balance, beginning of period	$ 3,095	$ 15,211	$ (942)	$ 17,485
Total change for the period	(68)	(122)	(165)	(532)
Less: Change in comprehensive income (loss) attributable to non-controlling interests	(1)	0	0	(4)
Balance, end of period	3,877	14,425	3,877	14,425
Accumulated Other Comprehensive Income (Loss)
AOCI [Roll Forward]
Balance, beginning of period	(565)	(334)	(467)	130
Other comprehensive income (loss) before reclassifications			32
Amounts reclassified from accumulated other comprehensive income (loss)			(197)
Total change for the period			(165)
Less: Change in comprehensive income (loss) attributable to non-controlling interests			0
Balance, end of period	(632)	$ (456)	(632)	$ (456)
Foreign Currency Translation Adjustments
AOCI [Roll Forward]
Balance, beginning of period			(452)
Balance, end of period	(638)		(638)
Investments
AOCI [Roll Forward]
Balance, beginning of period			0
Balance, end of period	0		0
Cash Flow Hedges
AOCI [Roll Forward]
Balance, beginning of period			(29)
Balance, end of period	(16)		(16)
Pension and Other Postretirement Plans
AOCI [Roll Forward]
Balance, beginning of period			14
Balance, end of period	$ 22		22
Foreign Currency Translation Adjustments Including Portion Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Other comprehensive income (loss) before reclassifications			(186)
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total change for the period			(186)
Investments
AOCI [Roll Forward]
Other comprehensive income (loss) before reclassifications			0
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total change for the period			0
Cash Flow Hedges Including Portion Attributable to Noncontrolling Interests
AOCI [Roll Forward]
Other comprehensive income (loss) before reclassifications			210
Amounts reclassified from accumulated other comprehensive income (loss)			(197)
Total change for the period			13
Pension and Other Postretirement Plans Including Portion Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Other comprehensive income (loss) before reclassifications			8
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total change for the period			8
Foreign Currency Translation Adjustments Portion Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Less: Change in comprehensive income (loss) attributable to non-controlling interests			0
Investments Attributable to Noncontrolling Interests
AOCI [Roll Forward]
Less: Change in comprehensive income (loss) attributable to non-controlling interests			0
Cash Flow Hedges Attributable to Noncontrolling Interests
AOCI [Roll Forward]
Less: Change in comprehensive income (loss) attributable to non-controlling interests			0
Pension and Other Postretirement Plans Portion Attributable to Noncontrolling Interest
AOCI [Roll Forward]
Less: Change in comprehensive income (loss) attributable to non-controlling interests			$ 0

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax, to Net Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net revenue	$ 22,844	$ 22,482	$ 68,122	$ 66,780
Cost of net revenue	(15,718)	(16,539)	(46,873)	(48,836)
Interest and other, net	(677)	(639)	(2,000)	(1,564)
Total reclassifications, net of tax	552	(895)	5,113	(1,894)
Total reclassifications, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net revenue	71	76	197	122
Cost of net revenue	0	0	0	0
Interest and other, net	0	0	0	1
Total reclassifications, net of tax	71	76	197	123
Total reclassifications, net of tax \| Investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net revenue	0	0	0	0
Cost of net revenue	0	0	0	0
Interest and other, net	0	0	0	1
Total reclassifications, net of tax	0	0	0	1
Total reclassifications, net of tax \| Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net revenue	71	76	197	122
Cost of net revenue	0	0	0	0
Interest and other, net	0	0	0	0
Total reclassifications, net of tax	$ 71	$ 76	$ 197	$ 122

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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+ Details

NON-CONTROLLING INTERESTS - Additional Information (Narrative) (Details) - USD ($) $ in Millions	Nov. 01, 2019	Aug. 02, 2019	Feb. 01, 2019	Nov. 02, 2018	Aug. 03, 2018	Feb. 02, 2018
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 3,877	$ 3,095	$ (942)	$ 14,425	$ 15,211	$ 17,485
Non-controlling interests
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 5,681	$ 5,544	$ 4,823	$ 6,833	$ 6,648	$ 5,766
VMware, Inc.
Noncontrolling Interest [Line Items]
Outstanding equity interest held	80.70%		80.50%
VMware, Inc. \| Non-controlling interests
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 4,500		$ 3,800
Pivotal
Noncontrolling Interest [Line Items]
Outstanding equity interest held	59.40%		62.80%
Pivotal \| Non-controlling interests
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 1,100		$ 1,000
SecureWorks
Noncontrolling Interest [Line Items]
Outstanding equity interest held	86.90%		87.40%
Outstanding equity interest, including RSAs	86.20%		86.40%
SecureWorks \| Non-controlling interests
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 87		$ 87

NON-CONTROLLING INTERESTS - Effect of Changes in Ownership Interests of Less than Wholly Owned Subsidiaries (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Noncontrolling Interest [Abstract]
Net income attributable to Dell Technologies Inc.	$ 499	$ (876)	$ 4,208	$ (2,011)
Transfers (to)/from the non-controlling interests:
Increase in Dell Technologies Inc. additional paid-in-capital for equity issuances and other equity activity			616
Decrease in Dell Technologies Inc. additional paid-in-capital and accumulated deficit for equity issuances and other equity activity			(1,278)
Net transfers to non-controlling interests			(662)
Change from net income attributable to Dell Technologies Inc. and transfers to the non-controlling interests			$ 3,546

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CAPITALIZATION - Schedule of Stock by Class (Details) - shares shares in Millions	Nov. 01, 2019	Feb. 01, 2019
Class of Stock [Line Items]
Authorized (in shares)	9,143	9,143
Issued (in shares)	731	721
Outstanding shares (in shares)	729	719
Class A
Class of Stock [Line Items]
Authorized (in shares)	600	600
Issued (in shares)	374	410
Outstanding shares (in shares)	374	410
Class B
Class of Stock [Line Items]
Authorized (in shares)	200	200
Issued (in shares)	119	137
Outstanding shares (in shares)	119	137
Class C
Class of Stock [Line Items]
Authorized (in shares)	7,900	7,900
Issued (in shares)	238	174
Outstanding shares (in shares)	236	172
Class D
Class of Stock [Line Items]
Authorized (in shares)	100	100
Issued (in shares)	0	0
Outstanding shares (in shares)	0	0
Class V
Class of Stock [Line Items]
Authorized (in shares)	343	343
Issued (in shares)	0	0
Outstanding shares (in shares)	0	0

CAPITALIZATION - Additional Information (Narrative) (Details)			9 Months Ended
	Dec. 28, 2018 USD ($) shares	Nov. 14, 2018 $ / shares	Nov. 01, 2019 USD ($) votes $ / shares shares	Nov. 02, 2018 USD ($) shares	May 29, 2019 USD ($)	Feb. 01, 2019 USD ($) shares
Class of Stock [Line Items]
Preferred stock, authorized (in shares)			1,000,000
Preferred stock, par value (in dollars per share) \| $ / shares			$ 0.01
Preferred stock, issued (in shares)			0			0
Preferred stock, outstanding (in shares)			0			0
Outstanding shares (in shares)			729,000,000			719,000,000
Aggregate purchase price \| $			$ 2,000,000	$ 47,000,000
Accumulated deficit on repurchase \| $			(17,299,000,000)			$ (21,349,000,000)
January 2017 and August 2017 Authorizations
Class of Stock [Line Items]
Accumulated deficit on repurchase \| $			$ 200,000,000
Merger Agreement
Class of Stock [Line Items]
Cash payment \| $	$ 14,000,000,000.0
Shares issued (in shares)	149,387,617
Equity issued in acquisition \| $	$ 6,900,000,000
Cash dividend received and used to fund acquisition \| $	8,870,000,000
Per share cash consideration (in dollars per share) \| $ / shares		$ 120.00
Merger Agreement \| VMware, Inc.
Class of Stock [Line Items]
Conditional one-time special cash dividend \| $	11,000,000,000
Merger Agreement \| Margin Loan Facility
Class of Stock [Line Items]
Proceeds from issuance of debt \| $	1,350,000,000
Merger Agreement \| Line of Credit
Class of Stock [Line Items]
Proceeds from issuance of debt \| $	$ 3,670,000,000
Class V Common Stock
Class of Stock [Line Items]
Outstanding shares (in shares)			0			0
Class A
Class of Stock [Line Items]
Outstanding shares (in shares)			374,000,000			410,000,000
Number of voting interests per share \| votes			10
Conversion of stock, shares issued (in shares)			35,749,396
Class A \| January 2017 and August 2017 Authorizations
Class of Stock [Line Items]
Stock repurchases, authorized amount \| $			$ 3,700,000,000		$ 1,500,000,000
Stock repurchases, remaining authorized amount \| $			$ 1,100,000,000
Shares repurchased (in shares)			7,300,000	0
Aggregate purchase price \| $			$ 1,300,000,000
Class B
Class of Stock [Line Items]
Outstanding shares (in shares)			119,000,000			137,000,000
Number of voting interests per share \| votes			10
Conversion of stock, shares issued (in shares)			17,650,820
Class C
Class of Stock [Line Items]
Outstanding shares (in shares)			236,000,000			172,000,000
Number of voting interests per share \| votes			1
Class D
Class of Stock [Line Items]
Outstanding shares (in shares)			0			0
Number of voting interests per share \| votes			1
Class V Common Stock Owners \| Class V Common Stock
Class of Stock [Line Items]
Outstanding shares (in shares)			0

EARNINGS (LOSS) PER SHARE - Additional Information (Narrative) (Details) - common_stock_group	Feb. 01, 2019	Dec. 28, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of groups of common stock		2
Class V Common Stock \| Class V Common Stock Owners
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Economic interest	61.00%

EARNINGS (LOSS) PER SHARE - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)	$ 0.69		$ 5.84
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)	$ 0.66		$ 5.50
Numerator: Continuing operations
Net income attributable to Dell Technologies - basic	$ 499
Incremental dilution from VMware	(6)
Net income (loss) - diluted	$ 493
Denominator: weighted-average shares outstanding
Weighted-average shares outstanding - basic (in shares)	725
Dilutive effect of options, restricted stock units, restricted stock, and other (in shares)	25
Weighted-average shares outstanding - diluted (in shares)	750
Weighted-average shares outstanding - antidilutive (in shares)	0
Class V Common Stock
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)		$ 0.83		$ 4.80
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)		$ 0.81		$ 4.72
Numerator: Continuing operations
Net income attributable to Dell Technologies - basic		$ 165		$ 955
Incremental dilution from VMware		(3)		(15)
Net income (loss) - diluted		$ 162		$ 940
Denominator: weighted-average shares outstanding
Weighted-average shares outstanding - basic (in shares)		199		199
Dilutive effect of options, restricted stock units, restricted stock, and other (in shares)		0		0
Weighted-average shares outstanding - diluted (in shares)		199		199
Weighted-average shares outstanding - antidilutive (in shares)		0		0
DHI Group
Earnings (loss) per share attributable to Dell Technologies Inc. - basic:
Earnings (loss) per share - basic (in dollars per share)		$ (1.84)		$ (5.23)
Earnings (loss) per share attributable to Dell Technologies Inc. - diluted:
Earnings (loss) per share - diluted (in dollars per share)		$ (1.84)		$ (5.25)
Numerator: Continuing operations
Net income attributable to Dell Technologies - basic		$ (1,041)	$ 4,208	$ (2,966)
Incremental dilution from VMware		(1)	(81)	(9)
Net income (loss) - diluted		$ (1,042)	$ 4,127	$ (2,975)
Denominator: weighted-average shares outstanding
Weighted-average shares outstanding - basic (in shares)		567	720	567
Dilutive effect of options, restricted stock units, restricted stock, and other (in shares)		0	30	0
Weighted-average shares outstanding - diluted (in shares)		567	750	567
Weighted-average shares outstanding - antidilutive (in shares)		46	0	47

EARNINGS (LOSS) PER SHARE - Reconciliation of Net Income (Loss) From Continuing Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Attributable to Parent	$ 499	$ (876)	$ 4,208	$ (2,011)
Class V Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Attributable to Parent		165		955
DHI Group
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Income (Loss) Attributable to Parent		$ (1,041)		$ (2,966)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	9 Months Ended
	Nov. 01, 2019	Feb. 01, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)		42,000,000
Stock options, exercisable (in shares)	10,000,000
Options, outstanding, weighted average exercise price (in dollars per share)	$ 16.09
Proceeds from stock options exercised	$ 157,000,000
Options, exercises in period, intrinsic value	$ 355,000,000
Serviced-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	10,500,000
Award vesting period	3 years
Serviced-based Restricted Stock Units \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares converted (per share)	$ 1
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	1,900,000
Performance-based Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
Performance-based Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
Performance-based Restricted Stock Units Subject To Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	900,000
Number of shares outstanding (in shares)	5,000,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding (in shares)	15,000,000
Weighted average grant date fair value (in dollars per share)	$ 50.79
Aggregate intrinsic value	$ 804,000,000
Unrecognized stock-based compensation expense	$ 475,000,000
Weighted-average recognition period of options	2 years 3 months 18 days
Dell Technologies Inc. 2013 Stock Incentive Plan \| Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized for issuance (in shares)	35,000,000
Shares authorized for for share-based payment awards (in shares)	110,500,000
Share-based compensation arrangement by share-based payment award, number of shares available for grant	55,000,000

STOCK-BASED COMPENSATION - Valuation Assumptions (Details) - RSUs	9 Months Ended
	Nov. 01, 2019 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (in dollars per share)	$ 87.17
Expected term (in years)	3 years
Risk-free rate (U.S. Government Treasury Note)	2.40%
Expected volatility	45.00%
Expected dividend yield	0.00%

REDEEMABLE SHARES (Details) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Nov. 01, 2019	Feb. 01, 2019
Temporary Equity [Line Items]
Holding period	6 months
Expiration period	2 years
Redeemable shares classified as temporary equity	$ 934	$ 1,196
Common Stock
Temporary Equity [Line Items]
Redeemable shares outstanding (in shares)	2	3
Redeemable shares issued (in shares)	2	3
RSUs
Temporary Equity [Line Items]
Redeemable shares outstanding (in shares)	1	1
Redeemable shares issued (in shares)	1	1
RSAs
Temporary Equity [Line Items]
Redeemable shares outstanding (in shares)	0	0
Redeemable shares issued (in shares)	0	0
Employee Stock Option
Temporary Equity [Line Items]
Redeemable shares outstanding (in shares)	21	31
Redeemable shares issued (in shares)	21	31

SEGMENT INFORMATION - Additional Information (Narrative) (Details)	9 Months Ended
	Nov. 01, 2019 segments
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT INFORMATION - Reconciliation of net revenue by reportable segments to consolidated net revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Segment Reporting Information [Line Items]
Total net revenue	$ 22,844	$ 22,482	$ 68,122	$ 66,780
Consolidated operating income (loss)	836	(356)	1,905	(522)
Amortization of intangibles	(1,100)	(1,500)	(3,300)	(4,600)
Operating segments
Segment Reporting Information [Line Items]
Total net revenue	22,283	22,071	66,512	65,586
Consolidated operating income (loss)	2,452	2,150	7,496	6,408
Operating segments \| Infrastructure Solutions Group
Segment Reporting Information [Line Items]
Total net revenue	8,390	8,937	25,213	26,831
Consolidated operating income (loss)	996	935	2,889	2,886
Operating segments \| Client Solutions Group
Segment Reporting Information [Line Items]
Total net revenue	11,410	10,905	34,068	32,304
Consolidated operating income (loss)	739	447	2,514	1,405
Operating segments \| VMware
Segment Reporting Information [Line Items]
Total net revenue	2,483	2,229	7,231	6,451
Consolidated operating income (loss)	717	768	2,093	2,117
Operating segments \| Other businesses
Segment Reporting Information [Line Items]
Total net revenue	644	583	1,859	1,736
Consolidated operating income (loss)	(8)	(40)	(86)	(139)
Unallocated transactions
Segment Reporting Information [Line Items]
Total net revenue	1	(3)	1	(6)
Consolidated operating income (loss)	(2)	(46)	(29)	(71)
Other corporate expenses	(55)	(258)	(792)	(388)
Reconciling items
Segment Reporting Information [Line Items]
Total net revenue	(84)	(169)	(250)	(536)
Impact of purchase accounting	(96)	(193)	(299)	(630)
Amortization of intangibles	(1,057)	(1,546)	(3,334)	(4,594)
Transaction-related expenses	(76)	(167)	(165)	(437)
Stock-based compensation expense	$ (322)	$ (256)	$ (886)	$ (671)

SEGMENT INFORMATION - Net revenue and property, plant and equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018
Disaggregation of Revenue [Line Items]
Total net revenue	$ 22,844	$ 22,482	$ 68,122	$ 66,780
Operating segments
Disaggregation of Revenue [Line Items]
Total net revenue	22,283	22,071	66,512	65,586
Operating segments \| Infrastructure Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	8,390	8,937	25,213	26,831
Operating segments \| Infrastructure Solutions Group \| Servers and networking
Disaggregation of Revenue [Line Items]
Total net revenue	4,241	5,054	12,858	14,700
Operating segments \| Infrastructure Solutions Group \| Storage
Disaggregation of Revenue [Line Items]
Total net revenue	4,149	3,883	12,355	12,131
Operating segments \| Client Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	11,410	10,905	34,068	32,304
Operating segments \| Client Solutions Group \| Commercial
Disaggregation of Revenue [Line Items]
Total net revenue	8,330	7,613	25,714	23,085
Operating segments \| Client Solutions Group \| Consumer
Disaggregation of Revenue [Line Items]
Total net revenue	3,080	3,292	8,354	9,219
Operating segments \| VMware
Disaggregation of Revenue [Line Items]
Total net revenue	$ 2,483	$ 2,229	$ 7,231	$ 6,451

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Information on Selected Accounts (Details) - USD ($) $ in Millions	Nov. 01, 2019	Feb. 01, 2019	Nov. 02, 2018
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 8,555	$ 9,676
Restricted cash - other current assets	654	522
Restricted cash - other non-current assets	132	42
Total cash, cash equivalents, and restricted cash	9,341	10,240
Inventories, net:
Production materials	1,491	1,794
Work-in-process	615	702
Finished goods	1,151	1,153
Total inventories, net	3,257	3,649
Other non-current liabilities:
Warranty liability	169	169	$ 169
Deferred and other tax liabilities	3,972	5,527
Non-current operating lease liabilities	1,336
Other	628	631
Total other non-current liabilities	$ 6,105	$ 6,327

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2019	Nov. 02, 2018	Nov. 01, 2019	Nov. 02, 2018	Feb. 01, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability at beginning of period	$ 525	$ 542	$ 524	$ 539
Costs accrued for new warranty contracts and changes in estimated for pre-existing warranties	211	226	651	656
Service obligations honored	(216)	(245)	(655)	(672)
Warranty liability at end of period	520	523	520	523
Current portion	351	354	351	354
Non-current portion	$ 169	$ 169	$ 169	$ 169	$ 169

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 3,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(5,000,000)
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,000,000
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(58,000,000)
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(5,000,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,000,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 58,000,000