0001571996-23-000032 | 10-Q | XBRL Viewer

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RELATED PARTY TRANSACTIONS - Schedule of Related Party Transaction (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022	Feb. 03, 2023
Related Party Transaction [Line Items]
Total net revenue	$ 22,934	$ 26,425	$ 43,856	$ 52,541
Due To/From [Abstract]
Due from related party, net, non-current	236		236		$ 440
Related Party
Due To/From [Abstract]
Due from related party, net, current	404		404		378
Due from related party, net, non-current	236		236		440
Due to related party, current	1,252		1,252		2,067
Related Party \| Other current assets \| VMware, Inc.
Deferred Costs:
Total deferred charges	2,898		2,898		3,000
Related Party \| Other non-current assets \| VMware, Inc.
Deferred Costs:
Total deferred charges	2,277		2,277		$ 2,537
Products
Related Party Transaction [Line Items]
Total net revenue	16,935	20,810	31,971	41,274
Products \| Related Party
Related Party Transaction [Line Items]
Cost of net revenue - products and services	384	426	591	681
Products \| Net revenue - products \| Related Party
Related Party Transaction [Line Items]
Total net revenue	38	35	78	81
Services
Related Party Transaction [Line Items]
Total net revenue	5,999	5,615	11,885	11,267
Services \| Related Party
Related Party Transaction [Line Items]
Cost of net revenue - products and services	$ 880	$ 762	$ 1,756	$ 1,471

FINANCIAL SERVICES - Schedule of Changes in the Allowance for Financing Receivable Losses (Details) - Customer financing receivables - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	$ 219	$ 181	$ 201	$ 189
Charge-offs, net of recoveries	(17)	(14)	(35)	(29)
Provision charged to income statement	21	16	57	23
Held for sale adjustment	(74)	0	(74)	0
Balances at end of period	149	183	149	183
Revolving
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	84	94	88	102
Charge-offs, net of recoveries	(16)	(12)	(33)	(25)
Provision charged to income statement	15	9	28	14
Held for sale adjustment	(74)	0	(74)	0
Balances at end of period	9	91	9	91
Fixed-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	135	87	113	87
Charge-offs, net of recoveries	(1)	(2)	(2)	(4)
Provision charged to income statement	6	7	29	9
Held for sale adjustment	0	0	0	0
Balances at end of period	$ 140	$ 92	$ 140	$ 92

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Aug. 04, 2023

Schedule of related party transactions

The following table presents information about the impact of Dell Technologies’ related party transactions with VMware on the Condensed Consolidated Statements of Income for the periods indicated:


		Three Months Ended				Six Months Ended
	Classification	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

		(in millions)
Sales and leases of products to VMware	Net revenue - products	$	38	$	35	$	78	$	81
Purchase of VMware products for resale	Cost of net revenue - products	$	384	$	426	$	591	$	681
Purchase of VMware services for resale	Cost of net revenue - services	$	880	$	762	$	1,756	$	1,471

The following table presents information about the impact of Dell Technologies’ related party transactions with VMware on the Condensed Consolidated Statements of Financial Position as of the dates indicated:


	Classification	August 4, 2023		February 3, 2023

		(in millions)
Deferred costs related to VMware products and services for resale	Other current assets	$	2,898	$	3,000
Deferred costs related to VMware products and services for resale	Other non-current assets	$	2,277	$	2,537

The following table presents amounts due to and from VMware as of the dates indicated:


	August 4, 2023		February 3, 2023

	(in millions)
Due from related party, net, current (a)	$	404	$	378
Due from related party, net, non-current (b)	$	236	$	440
Due to related party, current (c)	$	1,252	$	2,067

____________________

(a) Amounts due from related party, net, current consists of amounts due from VMware, inclusive of current net tax receivables from VMware under the Tax Agreements described below. Amounts, excluding tax, are generally settled in cash within 60 days of each quarter-end.

(b) Amounts due from related party, net, non-current consists of the non-current portion of net receivables from VMware under the Tax Agreements.

(c) Amounts due to related party, current includes amounts due to VMware, which are generally settled in cash within 60 days of each quarter-end.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details)	6 Months Ended
	Aug. 04, 2023
Foreign currency forward and option contracts \| Designated as cash flow hedging instruments
Derivative [Line Items]
Term of derivative contract	12 months
Forward contracts to hedge monetary assets and liabilities \| Non-designated as hedging instruments
Derivative [Line Items]
Term of derivative contract	3 months
Forward contracts to hedge monetary assets and liabilities \| Non-designated as hedging instruments \| Financing receivables
Derivative [Line Items]
Term of derivative contract	3 years
Interest rate swaps \| Non-designated as hedging instruments
Derivative [Line Items]
Term of derivative contract	5 years
Interest rate swaps \| Non-designated as hedging instruments \| Structured financing debt
Derivative [Line Items]
Term of derivative contract	4 years
Cross currency amortizing swaps \| Non-designated as hedging instruments
Derivative [Line Items]
Term of derivative contract	5 years

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Aug. 04, 2023

Equity [Abstract]

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 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		Cash Flow Hedges		Pension and Other Postretirement Plans		Accumulated Other Comprehensive Income (Loss)

	(in millions)











Balances as of February 3, 2023	$	(747)	$	(222)	$	(32)	$	(1,001)
Other comprehensive income before reclassifications	25		59		1		85
Amounts reclassified from accumulated other comprehensive income (loss)	—		159		—		159
Total change for the period	25		218		1		244

Balances as of August 4, 2023	$	(722)	$	(4)	$	(31)	$	(757)

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 for the periods indicated:


	Three Months Ended		Six Months Ended
	August 4, 2023		July 29, 2022	August 4, 2023	July 29, 2022
	Cash Flow Hedges

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(63)			$	307	$	(151)	$	430
Cost of net revenue	(5)				(1)		(8)		(28)



Total reclassifications, net of tax	$	(68)			$	306	$	(159)	$	402

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022	Feb. 03, 2023
Business Acquisition [Line Items]
Gross	$ 27,297,000,000		$ 27,297,000,000		$ 27,297,000,000
Accumulated Amortization	(24,322,000,000)		(24,322,000,000)		(23,914,000,000)
Finite-Lived Intangible Assets, Net, Total	2,975,000,000		2,975,000,000		3,383,000,000
Total intangible assets	30,382,000,000		30,382,000,000		30,382,000,000
Intangible assets, net	6,060,000,000		6,060,000,000		6,468,000,000
Amortization expense	209,000,000	$ 244,000,000	408,000,000	$ 487,000,000
Impairment charges	0	$ 0	0	$ 0
Trade names
Business Acquisition [Line Items]
Indefinite-lived trade names	3,085,000,000		3,085,000,000		3,085,000,000
Customer relationships
Business Acquisition [Line Items]
Gross	16,956,000,000		16,956,000,000		16,956,000,000
Accumulated Amortization	(14,703,000,000)		(14,703,000,000)		(14,474,000,000)
Finite-Lived Intangible Assets, Net, Total	2,253,000,000		2,253,000,000		2,482,000,000
Developed technology
Business Acquisition [Line Items]
Gross	9,466,000,000		9,466,000,000		9,466,000,000
Accumulated Amortization	(8,817,000,000)		(8,817,000,000)		(8,660,000,000)
Finite-Lived Intangible Assets, Net, Total	649,000,000		649,000,000		806,000,000
Trade names
Business Acquisition [Line Items]
Gross	875,000,000		875,000,000		875,000,000
Accumulated Amortization	(802,000,000)		(802,000,000)		(780,000,000)
Finite-Lived Intangible Assets, Net, Total	$ 73,000,000		$ 73,000,000		$ 95,000,000

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Aug. 04, 2023 shares	Aug. 04, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Richard J. Rothberg [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 6, 2023, Richard J. Rothberg, our General Counsel, adopted a written plan for the sale of up to 49,480 shares of the Company’s Class C Common Stock that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan will expire on December 1, 2023, or on any earlier date on which all of the shares have been sold.
Name	Richard J. Rothberg
Title	General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 6, 2023
Arrangement Duration	178 days
Aggregate Available	49,480	49,480

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - Related Party - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Products
Related party cost of net revenue	$ 384	$ 426	$ 591	$ 681
Services
Related party cost of net revenue	$ 880	$ 762	$ 1,756	$ 1,471

INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Investments	$ 1,600	$ 1,600
Fixed income debt securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Mature within one year	226
Mature in two to five years	$ 83

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Operating lease expense:
Operating lease costs	$ 63	$ 68	$ 142	$ 140
Variable costs	19	23	43	48
Total lease costs	$ 82	$ 91	$ 185	$ 188

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Dell Technologies Stockholders’ Equity (Deficit)	Common Stock and Capital in Excess of Par Value	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Income/(Loss)	Non-Controlling Interests
Balance, beginning of period (in shares) at Jan. 28, 2022			777
Balance, beginning of period at Jan. 28, 2022	$ (1,580)	$ (1,685)	$ 7,898	$ (964)	$ (8,188)	$ (431)	$ 105
Balance, beginning of period (in shares) at Jan. 28, 2022				20
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,575	1,583			1,583		(8)
Dividends and dividend equivalents declared	(501)	(501)			(501)
Foreign currency translation adjustments	(424)	(423)				(423)	(1)
Cash flow hedges, net change	136	136				136
Pension and other post-retirement	13	13				13
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			19
Issuance of common stock, net of shares repurchased for employee tax withholding	(344)	(344)	$ (344)
Stock-based compensation expense	468	451	$ 451				17
Repurchases of common stock (in shares)				42
Repurchases of common stock	(2,090)	(2,090)		$ (2,090)
Impact from equity transactions of non-controlling interests	(8)						(8)
Balance, end of period (in shares) at Jul. 29, 2022			796
Balance, end of period at Jul. 29, 2022	(2,755)	(2,860)	$ 8,005	$ (3,054)	(7,106)	(705)	105
Balance, end of period (in shares) at Jul. 29, 2022				62
Balance, beginning of period (in shares) at Apr. 29, 2022			795
Balance, beginning of period at Apr. 29, 2022	(2,355)	(2,462)	$ 7,777	$ (2,446)	(7,369)	(424)	107
Balance, beginning of period (in shares) at Apr. 29, 2022				48
Increase (Decrease) in Stockholders' Equity
Net income (loss)	506	511			511		(5)
Dividends and dividend equivalents declared	(248)	(248)			(248)
Foreign currency translation adjustments	(138)	(137)				(137)	(1)
Cash flow hedges, net change	(140)	(140)				(140)
Pension and other post-retirement	(4)	(4)				(4)
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			1
Issuance of common stock, net of shares repurchased for employee tax withholding	(5)	(5)	$ (5)
Stock-based compensation expense	236	227	227				9
Repurchases of common stock (in shares)				14
Repurchases of common stock	(608)	(608)		$ (608)
Impact from equity transactions of non-controlling interests	1	6	$ 6				(5)
Balance, end of period (in shares) at Jul. 29, 2022			796
Balance, end of period at Jul. 29, 2022	$ (2,755)	(2,860)	$ 8,005	$ (3,054)	(7,106)	(705)	105
Balance, end of period (in shares) at Jul. 29, 2022				62
Balance, beginning of period (in shares) at Feb. 03, 2023	798		798
Balance, beginning of period at Feb. 03, 2023	$ (3,025)	(3,122)	$ 8,424	$ (3,813)	(6,732)	(1,001)	97
Balance, beginning of period (in shares) at Feb. 03, 2023				82
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,033	1,045			1,045		(12)
Dividends and dividend equivalents declared	(562)	(562)			(562)
Foreign currency translation adjustments	25	25				25
Cash flow hedges, net change	218	218				218
Pension and other post-retirement	1	1				1
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			19
Issuance of common stock, net of shares repurchased for employee tax withholding	(303)	(303)	$ (303)
Stock-based compensation expense	448	433	$ 433				15
Repurchases of common stock (in shares)				11
Repurchases of common stock	(507)	(507)		$ (507)
Impact from equity transactions of non-controlling interests	$ (5)						(5)
Balance, end of period (in shares) at Aug. 04, 2023	817		817
Balance, end of period at Aug. 04, 2023	$ (2,677)	(2,772)	$ 8,554	$ (4,320)	(6,249)	(757)	95
Balance, end of period (in shares) at Aug. 04, 2023				93
Balance, beginning of period (in shares) at May. 05, 2023			817
Balance, beginning of period at May. 05, 2023	(2,924)	(3,023)	$ 8,339	$ (4,064)	(6,430)	(868)	99
Balance, beginning of period (in shares) at May. 05, 2023				88
Increase (Decrease) in Stockholders' Equity
Net income (loss)	455	462			462		(7)
Dividends and dividend equivalents declared	(281)	(281)			(281)
Foreign currency translation adjustments	(6)	(6)				(6)
Cash flow hedges, net change	117	117				117
Pension and other post-retirement	0
Issuance of common stock, net of shares repurchased for employee tax withholding	(4)	(4)	(4)
Stock-based compensation expense	223	215	215				8
Repurchases of common stock (in shares)				5
Repurchases of common stock	(256)	(256)		$ (256)
Impact from equity transactions of non-controlling interests	$ (1)	4	$ 4				(5)
Balance, end of period (in shares) at Aug. 04, 2023	817		817
Balance, end of period at Aug. 04, 2023	$ (2,677)	$ (2,772)	$ 8,554	$ (4,320)	$ (6,249)	$ (757)	$ 95
Balance, end of period (in shares) at Aug. 04, 2023				93

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 462	$ 511	$ 1,045	$ 1,583

- Definition

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

+ References

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+ Details

FAIR VALUE MEASUREMENTS

6 Months Ended

Aug. 04, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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:


	August 4, 2023								February 3, 2023
	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:

Money market funds	$	4,568	$	—	$	—	$	4,568	$	4,301	$	—	$	—	$	4,301






Marketable equity and other securities	5		—		—		5		33		—		—		33
Derivative instruments	—		185		—		185		—		295		—		295
Total assets	$	4,573	$	185	$	—	$	4,758	$	4,334	$	295	$	—	$	4,629
Liabilities:
Derivative instruments	$	—	$	76	$	—	$	76	$	—	$	460	$	—	$	460
Total liabilities	$	—	$	76	$	—	$	76	$	—	$	460	$	—	$	460

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 money market fund liquidity on a quarterly basis. As of August 4, 2023, the Company’s portfolio had no material exposure to money market funds with a fluctuating net asset value.

Marketable Equity and Other Securities — The Company’s investments in equity and other securities that are measured at fair value on a recurring basis consist 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 financial 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 a portion of their compensation. Assets were the same as liabilities associated with the plans at approximately $197 million and $179 million as of August 4, 2023 and February 3, 2023, 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 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.

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 August 4, 2023 and February 3, 2023, the Company held strategic investments in non-marketable equity and other securities of $1.2 billion and $1.3 billion, respectively. As these investments represent early-stage companies without readily determinable fair values, they are not included in the recurring fair value table above. See Note 3 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s strategic investments.

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:


	August 4, 2023				February 3, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value

	(in billions)

Senior Notes	$	16.0	$	15.8	$	18.1	$	18.2
Legacy Notes and Debentures	$	0.9	$	1.0	$	0.9	$	1.0
DFS Debt	$	10.0	$	9.6	$	10.3	$	9.9

The fair values of the outstanding debt shown in the table above 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.

- 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

SEGMENT INFORMATION - Reconciliation of Net Revenue by Reportable Segments to Consolidated Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Segment Reporting Information [Line Items]
Total net revenue	$ 22,934	$ 26,425	$ 43,856	$ 52,541
Consolidated operating income (loss)	1,165	1,270	2,234	2,820
Amortization of intangibles	(209)	(244)	(408)	(487)
Operating segments
Segment Reporting Information [Line Items]
Total net revenue	21,403	25,026	40,979	49,898
Consolidated operating income (loss)	2,018	2,024	3,650	4,221
Operating segments \| Infrastructure Solutions Group
Segment Reporting Information [Line Items]
Total net revenue	8,461	9,536	16,054	18,821
Consolidated operating income (loss)	1,049	1,046	1,789	2,128
Operating segments \| Client Solutions Group
Segment Reporting Information [Line Items]
Total net revenue	12,942	15,490	24,925	31,077
Consolidated operating income (loss)	969	978	1,861	2,093
Operating segments \| Other businesses
Segment Reporting Information [Line Items]
Total net revenue	1,528	1,399	2,871	2,638
Consolidated operating income (loss)	(44)	(71)	(80)	(135)
Unallocated transactions
Segment Reporting Information [Line Items]
Total net revenue	3	0	6	5
Consolidated operating income (loss)	3	(1)	5	1
Other corporate expenses	(373)	(196)	(471)	(292)
Reconciling items
Segment Reporting Information [Line Items]
Impact of purchase accounting	(4)	(3)	(8)	(12)
Amortization of intangibles	(209)	(244)	(408)	(487)
Transaction-related expenses	(3)	(3)	(6)	(8)
Stock-based compensation expense	$ (223)	$ (236)	$ (448)	$ (468)

INVESTMENTS

6 Months Ended

Aug. 04, 2023

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

The Company has strategic investments in equity and other securities as well as investments in fixed income debt securities. All equity and other securities as well as long-term fixed income debt securities are recorded as long-term investments in the Condensed Consolidated Statements of Financial Position. Short-term fixed income debt securities are recorded as other current assets in the Condensed Consolidated Statements of Financial Position.

As of both August 4, 2023 and February 3, 2023, total investments were $1.6 billion.

Equity and Other Securities

Equity and other securities include strategic investments in marketable and non-marketable securities. Investments in marketable securities are measured at fair value on a recurring basis. The Company has elected to apply the measurement alternative for non-marketable securities. Under the alternative, the Company measures investments without readily determinable fair values at cost, less impairment, adjusted by observable price changes. The Company makes 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 events on its fully diluted ownership percentages, as well as other available information regarding the issuer’s historical and forecasted performance.

Carrying Value of Equity and Other Securities

The following table presents the cost, cumulative unrealized gains, cumulative unrealized losses, and carrying value of the Company's strategic investments in marketable and non-marketable equity securities as of the dates indicated:


	August 4, 2023								February 3, 2023
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Marketable	$	12	$	19	$	(26)	$	5	$	56	$	17	$	(40)	$	33
Non-marketable	729		660		(146)		1,243		714		651		(100)		1,265
Total equity and other securities	$	741	$	679	$	(172)	$	1,248	$	770	$	668	$	(140)	$	1,298

Gains and Losses on Equity and Other Securities

The following table presents unrealized gains and losses on marketable and non-marketable equity and other securities for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Marketable securities:
Unrealized gain	$	1	$	7	$	1	$	7
Unrealized loss	—		(1)		(23)		(19)
Net unrealized gain (loss)	1		6		(22)		(12)
Non-marketable securities:
Unrealized gain	—		51		9		72
Unrealized loss	(41)		(320)		(46)		(320)
Net unrealized loss (a)	(41)		(269)		(37)		(248)
Net unrealized loss on equity and other securities	$	(40)	$	(263)	$	(59)	$	(260)

____________________

(a) For all periods presented, net unrealized losses on non-marketable securities were primarily attributable to impairments. During the three and six months ended July 29, 2022, the Company recognized $310 million of impairments on equity and other securities, which was generally in line with extended public equity market declines.

Fixed Income Debt Securities

The Company has fixed income debt securities carried at amortized cost which are held as collateral for borrowings. The Company intends to hold the investments to maturity. As of August 4, 2023, the Company held $226 million in fixed income debt securities which will mature within one year and $83 million in fixed income debt securities which will mature within two to five years.

The following table summarizes the Company’s debt securities as of the dates indicated:


	August 4, 2023								February 3, 2023
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Fixed income debt securities	$	339	$	55	$	(85)	$	309	$	348	$	65	$	(95)	$	318

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Severance Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Severance liability:
Severance liability at beginning of period	$ 162	$ 63	$ 408	$ 74
Severance charges	364	46	412	63
Cash paid and other	(69)	(21)	(363)	(49)
Severance liability at end of period	$ 457	$ 88	$ 457	$ 88

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Debt and Equity Securities, FV-NI [Line Items]
Deferred compensation plan assets	$ 197	$ 179
Strategic Investments
Debt and Equity Securities, FV-NI [Line Items]
Carrying Value	$ 1,200	$ 1,300

EARNINGS PER SHARE (Tables)

6 Months Ended

Aug. 04, 2023

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per share and reconciliation to consolidated net income

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022
Earnings per share attributable to Dell Technologies Inc.
Dell Technologies Common Stock — Basic	$	0.64	$	0.69	$	1.44	$	2.12
Dell Technologies Common Stock — Diluted	$	0.63	$	0.68	$	1.42	$	2.06

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. - basic and diluted	$	462	$	511	$	1,045	$	1,583






Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding — basic	726		739		725		746
Dilutive effect of options, restricted stock units, restricted stock, and other	12		16		12		22
Weighted-average shares outstanding — diluted	738		755		737		768
Weighted-average shares outstanding — antidilutive	—		15		8		8

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Interest and Other, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Interest and other, net:
Investment income, primarily interest	$ 66	$ 16	$ 125	$ 31
Loss on investments, net	(29)	(255)	(44)	(241)
Interest expense	(352)	(298)	(757)	(563)
Foreign exchange	(65)	(66)	(97)	(155)
Other	(71)	(32)	(42)	(44)
Total interest and other, net	$ (451)	$ (635)	$ (815)	$ (972)

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

DEBT - Outstanding Debt Narrative (Details) - USD ($) $ in Billions	Jan. 24, 2023	Dec. 13, 2021	Apr. 09, 2020	Mar. 20, 2019	Jun. 22, 2016	Jun. 01, 2016
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 2.0	$ 2.3	$ 2.3	$ 4.5	$ 3.3	$ 20.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
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+ Details

FINANCIAL SERVICES - DFS Debt Narrative (Details) $ in Millions				6 Months Ended
	Oct. 18, 2022 EUR (€)	Oct. 27, 2021 EUR (€)	Jun. 24, 2020 EUR (€)	Aug. 04, 2023 USD ($) facility
U.S.
Debt Instrument [Line Items]
Number of asset-based financing facilities \| facility				2
Note payable
Debt Instrument [Line Items]
Aggregate principal amount				$ 250
Note payable \| Mexican Interbank Equilibrium Interest Rate \| Mexico, Pesos
Debt Instrument [Line Items]
Basis spread on variable rate				4.24%
Secured Debt \| Asset-based financing and securitization facilities \| U.S. \| Finance Leases and Revolving Loan Portfolio Segments
Debt Instrument [Line Items]
Total debt capacity				$ 5,600
Secured Debt \| Asset-based financing and securitization facilities \| International \| Finance Leases and Revolving Loan Portfolio Segments
Debt Instrument [Line Items]
Total debt capacity				$ 876
Secured Debt \| Fixed-term securitization offerings \| Minimum
Debt Instrument [Line Items]
Interest rate				0.43%
Secured Debt \| Fixed-term securitization offerings \| Maximum
Debt Instrument [Line Items]
Interest rate				6.80%
Secured Debt \| Other borrowings \| Canada
Debt Instrument [Line Items]
Total debt capacity				$ 337
Secured Debt \| Other borrowings \| Europe
Debt Instrument [Line Items]
Total debt capacity				657
Secured Debt \| Other borrowings \| Australia and New Zealand
Debt Instrument [Line Items]
Total debt capacity				295
Secured Debt \| Other borrowings \| Middle East
Debt Instrument [Line Items]
Total debt capacity				$ 150
Unsecured Debt \| Dell Bank senior unsecured eurobonds
Debt Instrument [Line Items]
Interest rate	4.50%	0.50%	1.625%
Aggregate principal amount \| €	€ 500,000,000	€ 500,000,000	€ 500,000,000
Debt instrument, term	5 years	5 years	4 years

FINANCIAL SERVICES - Operating Leases (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Receivables [Abstract]
Equipment under operating lease, gross	$ 3,833	$ 3,725
Less: Accumulated depreciation	(1,687)	(1,517)
Equipment under operating lease, net	$ 2,146	$ 2,208

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Millions	6 Months Ended
	Aug. 04, 2023 USD ($)
Goodwill [Roll Forward]
Balance at the beginning	$ 19,676
Impact of foreign currency translation and other	(36)
Balance at the end	19,640
Operating segments \| Infrastructure Solutions Group
Goodwill [Roll Forward]
Balance at the beginning	15,017
Impact of foreign currency translation and other	(36)
Balance at the end	14,981
Operating segments \| Client Solutions Group
Goodwill [Roll Forward]
Balance at the beginning	4,232
Impact of foreign currency translation and other	0
Balance at the end	4,232
Operating segments \| Other Businesses
Goodwill [Roll Forward]
Balance at the beginning	427
Impact of foreign currency translation and other	0
Balance at the end	$ 427

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

DEBT - 2021 Revolving Credit Facility (Details) - USD ($)	6 Months Ended
	Aug. 04, 2023	Nov. 01, 2021
2021 Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 6,000,000,000
Outstanding borrowings under credit facility	$ 0
2021 Revolving Credit Facility \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
2021 Revolving Credit Facility, Letter Of Credit Sub Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000
2021 Revolving Credit Facility, Swing-Line Sub Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000
2021 Revolving Credit Facility, Incremental Commitments
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 10,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

RELATED PARTY TRANSACTIONS - Narrative (Details) - Tax Agreement - Related Party - USD ($) $ in Millions	6 Months Ended
	Aug. 04, 2023	Feb. 03, 2023
Related Party Transaction [Line Items]
Accounts receivable	$ 484	$ 599
Transition tax, expected payment period	2 years
Income taxes receivable	$ 93	$ 146

LEASES - Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 716	$ 725
Operating lease ROU assets extensible list	Other non-current assets	Other non-current assets
Current operating lease liabilities	$ 255	$ 260
Current operating lease liabilities, extensible list	Accrued and other	Accrued and other
Non-current operating lease liabilities	$ 600	$ 630
Non-current operating lease liabilities, extensible list	Other non-current liabilities	Other non-current liabilities
Total operating lease liabilities	$ 855	$ 890
Weighted-average remaining lease term (in years)	4 years 5 months 8 days	4 years 11 months 12 days
Weighted-average discount rate	4.12%	3.48%

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Statement of Comprehensive Income [Abstract]
Tax expense (benefit)	$ 7	$ (8)	$ 12	$ 8

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 12
-SubTopic 10
-Topic 220
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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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
-Topic 220
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482659/740-20-45-2

+ Details

GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Aug. 04, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Infrastructure Solutions Group and Client Solutions Group reporting units are consistent with the reportable segments identified in Note 16 of the Notes to the Condensed Consolidated Financial Statements. Other businesses consists of VMware Resale, Secureworks, and Virtustream, which each represent separate reporting units.

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


	Infrastructure Solutions Group		Client Solutions Group		Other Businesses		Total

	(in millions)

Balances as of February 3, 2023	$	15,017	$	4,232	$	427	$	19,676

Impact of foreign currency translation and other	(36)		—		—		(36)



Balances as of August 4, 2023	$	14,981	$	4,232	$	427	$	19,640

Intangible Assets

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


	August 4, 2023						February 3, 2023
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,956	$	(14,703)	$	2,253	$	16,956	$	(14,474)	$	2,482
Developed technology	9,466		(8,817)		649		9,466		(8,660)		806
Trade names	875		(802)		73		875		(780)		95

Definite-lived intangible assets	27,297		(24,322)		2,975		27,297		(23,914)		3,383
Indefinite-lived trade names	3,085		—		3,085		3,085		—		3,085
Total intangible assets	$	30,382	$	(24,322)	$	6,060	$	30,382	$	(23,914)	$	6,468

Amortization expense related to definite-lived intangible assets was $209 million and $244 million for the three months ended August 4, 2023 and July 29, 2022, respectively, and $408 million and $487 million for the six months ended August 4, 2023 and July 29, 2022, respectively. There were no material impairment charges related to intangible assets during the three or six months ended August 4, 2023 and July 29, 2022.

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


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	408
Fiscal 2025	644
Fiscal 2026	484
Fiscal 2027	376
Fiscal 2028	220
Thereafter	843
Total	$	2,975

Goodwill and Indefinite-Lived Intangible Assets Impairment Testing

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.

For the annual impairment review during the third quarter of Fiscal 2023, 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 perform 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.

Management exercised significant judgment related to the above assessment, 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. The discounted cash flow and public company multiples methodologies require significant judgment, including estimation of future revenues, gross margins, and operating expenses, which are 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 revenue growth rate and discount 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.

The fair value of the indefinite-lived trade names is generally estimated using discounted cash flow methodologies. These methodologies require significant judgment, including estimation of future revenue, the estimation of the long-term revenue growth rate of the Company’s business and the determination of the Company’s weighted average cost of capital and royalty rates. Changes in these estimates and assumptions could materially affect the fair value of the indefinite-lived intangible assets, potentially resulting in a non-cash impairment charge.

Based on the results of the annual impairment test performed during Fiscal 2023, the fair values of each of the reporting units and indefinite-lived intangibles exceeded their carrying values. No goodwill or indefinite-lived assets impairment test was performed during the six months ended August 4, 2023.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 80	$ 78
Short-term financing receivables, allowance	72	142
Long-term financing receivables, allowance	$ 77	$ 59
Common stock, par or value (in dollars per share)	$ 0.01	$ 0.01

FINANCIAL SERVICES (Tables)

6 Months Ended

Aug. 04, 2023

Receivables [Abstract]

Schedule of 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:


	August 4, 2023						February 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Financing receivables, net:
Customer receivables, gross (a) (b)	$	180	$	10,439	$	10,619	$	685	$	10,293	$	10,978
Allowances for losses	(9)		(140)		(149)		(88)		(113)		(201)
Customer receivables, net	171		10,299		10,470		597		10,180		10,777
Residual interest	—		150		150		—		142		142
Financing receivables, net	$	171	$	10,449	$	10,620	$	597	$	10,322	$	10,919
Short-term	$	171	$	4,636	$	4,807	$	597	$	4,684	$	5,281
Long-term	$	—	$	5,813	$	5,813	$	—	$	5,638	$	5,638

____________________

(a) Customer receivables, gross include amounts due from customers under revolving loans, fixed-term loans, fixed-term leases, and accrued interest.

(b) The decrease in revolving customer financing receivables is attributable to the reclassification of the U.S. consumer revolving portfolio to current assets held for sale, as described above.

Schedule of allowance for financing receivable losses

The following table presents the changes in allowance for financing receivable losses for the periods indicated:


	Three Months Ended
	August 4, 2023						July 29, 2022
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	84	$	135	$	219	$	94	$	87	$	181

Charge-offs, net of recoveries	(16)		(1)		(17)		(12)		(2)		(14)
Provision charged to income statement	15		6		21		9		7		16
Held for sale adjustment	(74)		—		(74)		—		—		—
Balances at end of period	$	9	$	140	$	149	$	91	$	92	$	183


	Six Months Ended
	August 4, 2023						July 29, 2022
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	88	$	113	$	201	$	102	$	87	$	189

Charge-offs, net of recoveries	(33)		(2)		(35)		(25)		(4)		(29)
Provision charged to income statement	28		29		57		14		9		23
Held for sale adjustment	(74)		—		(74)		—		—		—
Balances at end of period	$	9	$	140	$	149	$	91	$	92	$	183

Schedule of 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:


	August 4, 2023								February 3, 2023
	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	$	7	$	—	$	—	$	7	$	457	$	34	$	17	$	508
Revolving — DBC	151		18		4		173		154		19		4		177
Fixed-term — Consumer and Commercial	9,412		969		58		10,439		9,309		927		57		10,293
Total customer receivables, gross	$	9,570	$	987	$	62	$	10,619	$	9,920	$	980	$	78	$	10,978

Schedule of credit quality indicators

The following tables present customer receivables, gross, including accrued interest, by credit quality indicator, segregated by class, as of the dates indicated:


	August 4, 2023
	Fixed-term — Consumer and Commercial
	Fiscal Year of Origination
	2024		2023		2022		2021		2020		Years Prior		Revolving — DPA		Revolving — DBC		Total

	(in millions)
Higher	$	1,997	$	2,453	$	1,267	$	617	$	206	$	10	$	1	$	45	$	6,596
Mid	611		1,205		480		214		63		5		3		50		2,631
Lower	288		615		266		99		40		3		3		78		1,392
Total	$	2,896	$	4,273	$	2,013	$	930	$	309	$	18	$	7	$	173	$	10,619


	February 3, 2023
	Fixed-term — Consumer and Commercial
	Fiscal Year of Origination
	2023		2022		2021		2020		2019		Years Prior		Revolving — DPA		Revolving — DBC		Total

	(in millions)
Higher	$	3,210	$	1,805	$	914	$	343	$	37	$	1	$	123	$	44	$	6,477
Mid	1,242		631		362		119		17		1		136		54		2,562
Lower	1,017		364		157		65		7		1		249		79		1,939
Total	$	5,469	$	2,800	$	1,433	$	527	$	61	$	3	$	508	$	177	$	10,978

Schedule of finance leases

The following table presents 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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Net revenue — products	$	292	$	219	$	539	$	439
Cost of net revenue — products	192		164		388		368
Gross margin — products	$	100	$	55	$	151	$	71

Schedule of future maturity of fixed-term customer leases

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 Statement of Financial Position as of the date indicated:


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	1,445
Fiscal 2025	2,063
Fiscal 2026	1,540
Fiscal 2027	822
Fiscal 2028 and beyond	297
Total undiscounted cash flows	6,167
Fixed-term loans	5,163
Revolving loans	180
Less: Unearned income	(891)
Total customer receivables, gross	$	10,619

Schedule of operating lease

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


	August 4, 2023		February 3, 2023

	(in millions)
Equipment under operating lease, gross	$	3,833	$	3,725
Less: Accumulated depreciation	(1,687)		(1,517)
Equipment under operating lease, net	$	2,146	$	2,208

Schedule of operating lease income and expense

The following table presents operating lease income related to lease payments and depreciation expense for the Company’s operating lease portfolio for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Income related to lease payments	$	330	$	253	$	651	$	485
Depreciation expense	$	236	$	194	$	469	$	359

Schedule of 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:


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	623
Fiscal 2025	918
Fiscal 2026	544
Fiscal 2027	192
Fiscal 2028 and beyond	71
Total	$	2,348

Schedule of debt

The majority of DFS debt is non-recourse to Dell Technologies and represents borrowings under securitization programs and structured financing programs, for which the Company’s risk of loss is limited to transferred loan and lease payments and associated equipment.

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


	August 4, 2023		February 3, 2023

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing and securitization facilities	$	3,067	$	3,987
Fixed-term securitization offerings	3,471		2,679
Other	58		76
Total DFS U.S. debt	6,596		6,742
DFS international debt:
Securitization facility	793		790
Other borrowings	762		871
Note payable	250		250
Dell Bank senior unsecured eurobonds	1,642		1,637
Total DFS international debt	3,447		3,548
Total DFS debt	$	10,043	$	10,290
Total short-term DFS debt	$	5,801	$	5,400
Total long-term DFS debt	$	4,242	$	4,890

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


	August 4, 2023		February 3, 2023

	(in millions)
Senior Notes:
5.45% due June 2023	$	—	$	1,000
4.00% due July 2024	1,000		1,000
5.85% due July 2025	1,000		1,000
6.02% due June 2026	3,500		4,500
4.90% due October 2026	1,750		1,750
6.10% due July 2027	500		500
5.25% due February 2028	1,000		1,000
5.30% due October 2029	1,750		1,750
6.20% due July 2030	750		750
5.75% due February 2033	1,000		1,000
8.10% due July 2036	1,000		1,000
3.38% due December 2041	982		1,000
8.35% due July 2046	800		800
3.45% due December 2051	1,099		1,250
Legacy Notes and Debentures:
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
DFS Debt (Note 4)	10,043		10,290
Other	262		325
Total debt, principal amount	$	27,388	$	29,867
Unamortized discount, net of unamortized premium	(119)		(133)
Debt issuance costs	(131)		(146)
Total debt, carrying value	$	27,138	$	29,588
Total short-term debt, carrying value	$	6,961	$	6,573
Total long-term debt, carrying value	$	20,177	$	23,015

Schedule of financing receivables held by the consolidated VIEs

The following table presents the assets and liabilities held by the consolidated VIEs as of the dates indicated, which are included in the Condensed Consolidated Statements of Financial Position:


	August 4, 2023		February 3, 2023

	(in millions)
Assets held by consolidated VIEs
Other current assets	$	282	$	274
Current assets held for sale	$	366	$	—
Financing receivables, net of allowance
Short-term	$	3,256	$	3,702
Long-term	$	3,298	$	3,295
Property, plant, and equipment, net	$	1,142	$	1,164
Liabilities held by consolidated VIEs
Debt, net of unamortized debt issuance costs
Short-term	$	4,556	$	4,761
Long-term	$	2,760	$	2,685

RELATED PARTY TRANSACTIONS

6 Months Ended

Aug. 04, 2023

RELATED PARTY TRANSACTIONS

VMware is considered to be a related party of the Company as a result of Michael Dell’s ownership interests in both Dell Technologies and VMware as well as Mr. Dell’s service as Chairman and Chief Executive Officer of Dell Technologies and as Chairman of the Board of VMware, Inc.

The information provided below includes a summary of transactions with VMware. Transactions with related parties other than VMware during the periods presented were immaterial, individually and in aggregate.

Transactions with VMware

Dell Technologies and VMware engage in the following ongoing related party transactions:

•Pursuant to original equipment manufacturer and reseller arrangements, Dell Technologies integrates or bundles VMware’s products and services with Dell Technologies’ products and sells them to end-users. Dell Technologies also acts as a distributor, purchasing VMware’s standalone products and services for resale to end-user customers. Where applicable, costs under these arrangements are presented net of rebates received by Dell Technologies.

•Dell Technologies procures products and services from VMware for its internal use. For the three and six months ended August 4, 2023 and July 29, 2022, costs incurred associated with products and services purchased from VMware for internal use were immaterial.

•Dell Technologies sells and leases products and sells services to VMware. For the three and six months ended August 4, 2023 and July 29, 2022, revenue recognized from sales of services to VMware was immaterial.

•DFS provides financing to certain VMware end-users. Upon acceptance of the financing arrangement by both VMware’s end-users and DFS, DFS recognizes amounts due to related parties on the Condensed Consolidated Statements of Financial Position. Associated financing fees are recorded to product net revenue on the Condensed Consolidated Statements of Income and are reflected within sales and leases of products to VMware in the table below.

•Dell Technologies and VMware also enter into joint marketing, sales, and branding arrangements, for which both parties may incur costs. For the three and six months ended August 4, 2023 and July 29, 2022, consideration received from VMware for joint marketing, sales, and branding arrangements was immaterial.

•Dell Technologies and VMware entered into a transition services agreement in connection with the VMware Spin-off to provide various support services, including investment advisory services, certain support services from Dell Technologies personnel, and other transitional services. Costs associated with this agreement were immaterial for the three and six months ended July 29, 2022. Activities under the agreement concluded during Fiscal 2023.

The following table presents information about the impact of Dell Technologies’ related party transactions with VMware on the Condensed Consolidated Statements of Income for the periods indicated:


		Three Months Ended				Six Months Ended
	Classification	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

		(in millions)
Sales and leases of products to VMware	Net revenue - products	$	38	$	35	$	78	$	81
Purchase of VMware products for resale	Cost of net revenue - products	$	384	$	426	$	591	$	681
Purchase of VMware services for resale	Cost of net revenue - services	$	880	$	762	$	1,756	$	1,471


	Classification	August 4, 2023		February 3, 2023

		(in millions)
Deferred costs related to VMware products and services for resale	Other current assets	$	2,898	$	3,000
Deferred costs related to VMware products and services for resale	Other non-current assets	$	2,277	$	2,537

Due To/From Related Party

The following table presents amounts due to and from VMware as of the dates indicated:


	August 4, 2023		February 3, 2023

	(in millions)
Due from related party, net, current (a)	$	404	$	378
Due from related party, net, non-current (b)	$	236	$	440
Due to related party, current (c)	$	1,252	$	2,067

____________________

(b) Amounts due from related party, net, non-current consists of the non-current portion of net receivables from VMware under the Tax Agreements.

(c) Amounts due to related party, current includes amounts due to VMware, which are generally settled in cash within 60 days of each quarter-end.

Related Party Tax Matters

Tax Agreements — In connection with the VMware Spin-off and concurrently with the execution of the Separation and Distribution Agreement, effective as of April 14, 2021, Dell Technologies and VMware entered into a Tax Matters Agreement (the “Tax Matters Agreement”) and agreed to terminate the tax sharing agreement as amended on December 30, 2019 (together with the Tax Matters Agreement, the “Tax Agreements”). The Tax Matters Agreement governs Dell Technologies’ and VMware’s respective rights and obligations, both for pre-spin-off periods and post-spin-off periods, regarding income and other taxes, and related matters, including tax liabilities and benefits, attributes, and returns.

The timing of the tax payments due to and from related parties is governed by the Tax Agreements. VMware’s portion of the mandatory one-time transition tax on accumulated earnings of foreign subsidiaries (the “Transition Tax”) is governed by a letter agreement between VMware and Dell Technologies entered into on April 1, 2019.

Pursuant to the Tax Agreements, net receipts from VMware during the six months ended August 4, 2023 and net payments to VMware during the six months ended July 29, 2022 were immaterial.

As a result of the activity under the Tax Agreements with VMware, amounts due from VMware were $484 million and $599 million as of August 4, 2023 and February 3, 2023, respectively, primarily related to VMware’s estimated tax obligation resulting from the Transition Tax. The 2017 Tax Cuts and Jobs Act included a deferral election for an eight-year installment payment method on the Transition Tax. Dell Technologies expects VMware to pay the remainder of its Transition Tax over a period of two years.

Indemnification — Upon consummation of the VMware Spin-off, Dell Technologies recorded net income tax indemnification receivables from VMware related to certain income tax liabilities for which Dell Technologies is jointly and severally liable, but for which it is indemnified by VMware under the Tax Matters Agreement. The amounts that VMware may be obligated to pay Dell Technologies could vary depending on the outcome of certain unresolved tax matters, which may not be resolved for several years. The net receivable as of August 4, 2023 and February 3, 2023 was $93 million and $146 million, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

DEBT

6 Months Ended

Aug. 04, 2023

Debt Disclosure [Abstract]

DEBT

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


	August 4, 2023		February 3, 2023

	(in millions)
Senior Notes:
5.45% due June 2023	$	—	$	1,000
4.00% due July 2024	1,000		1,000
5.85% due July 2025	1,000		1,000
6.02% due June 2026	3,500		4,500
4.90% due October 2026	1,750		1,750
6.10% due July 2027	500		500
5.25% due February 2028	1,000		1,000
5.30% due October 2029	1,750		1,750
6.20% due July 2030	750		750
5.75% due February 2033	1,000		1,000
8.10% due July 2036	1,000		1,000
3.38% due December 2041	982		1,000
8.35% due July 2046	800		800
3.45% due December 2051	1,099		1,250
Legacy Notes and Debentures:
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
DFS Debt (Note 4)	10,043		10,290
Other	262		325
Total debt, principal amount	$	27,388	$	29,867
Unamortized discount, net of unamortized premium	(119)		(133)
Debt issuance costs	(131)		(146)
Total debt, carrying value	$	27,138	$	29,588
Total short-term debt, carrying value	$	6,961	$	6,573
Total long-term debt, carrying value	$	20,177	$	23,015

During the six months ended August 4, 2023, the net decrease in the Company’s debt balance was principally attributable to:

•the repayment of $1 billion principal amount of the 5.45% Senior Notes due June 2023; and

•the repayment of $1 billion principal amount of the 6.02% Senior Notes due June 2026 in a tender offer, in connection with which the Company recognized an immaterial amount of debt extinguishment costs in interest and other, net in the Condensed Consolidated Statement of Income.

Outstanding Debt

Senior Notes — The Company completed offerings of multiple series of senior notes which were issued on June 1, 2016, June 22, 2016, March 20, 2019, April 9, 2020, December 13, 2021, and January 24, 2023 in aggregate principal amounts of $20.0 billion, $3.3 billion, $4.5 billion, $2.3 billion, $2.3 billion, and $2.0 billion, respectively (the “Senior Notes”). Interest on these borrowings is payable semiannually.

Legacy Notes and Debentures — The Company has outstanding unsecured notes and debentures (collectively, the “Legacy Notes and Debentures”) that were issued by Dell Inc. (“Dell”), a wholly-owned subsidiary of Dell Technologies Inc., 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.

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.

2021 Revolving Credit Facility — The Company’s revolving credit facility, which was entered into on November 1, 2021 (the “2021 Revolving Credit Facility”), matures on November 1, 2027. This facility provides the Company with revolving commitments in an aggregate principal amount of $6.0 billion for general corporate purposes, including liquidity support for the Company’s commercial paper program, and includes a letter of credit sub-facility of up to $0.5 billion and a swing-line loan sub-facility of up to $0.5 billion. The 2021 Revolving Credit Facility also allows the Company to obtain incremental additional commitments on one or more occasions in minimum amounts of $10 million.

Borrowings under the 2021 Revolving Credit Facility bear interest at a rate per annum equal to an applicable margin plus, at the borrowers’ option, either (a) the specified adjusted term Secured Overnight Financing Rate (“SOFR”) or (b) a base rate. The margin applicable to SOFR and base rate borrowings varies based upon the Company’s existing credit ratings. The base rate is calculated based upon the greatest of the specified prime rate, the specified federal reserve bank rate, or SOFR plus 1%. The borrowers may voluntarily repay outstanding loans under the 2021 Revolving Credit Facility at any time without premium or penalty, other than customary breakage costs.

As of August 4, 2023, the Company had no outstanding borrowings under the 2021 Revolving Credit Facility.

Commercial Paper Program — During Fiscal 2023, the Company established a commercial paper program under which the Company may issue unsecured notes in a maximum aggregate face amount of $5.0 billion outstanding at any time, with maturities up to 397 days from the date of issuance. The notes are sold on customary terms in the U.S. commercial paper market on a private placement basis. The proceeds of the notes are used for general corporate purposes. As of August 4, 2023, the Company had no outstanding borrowings under the commercial paper program.

The Company may purchase, redeem, prepay, refinance, or otherwise retire any amount of outstanding indebtedness under the terms of such indebtedness at any time and from time to time, in open market or negotiated transactions with the holders of such indebtedness or otherwise, as considered appropriate in light of market conditions and other relevant factors.

Covenants — The credit agreement governing the 2021 Revolving Credit Facility and the indentures governing the Senior Notes and the Legacy Notes and Debentures impose various limitations, subject to exceptions, on creating certain liens and entering into sale and lease-back transactions. The foregoing credit agreement 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. The 2021 Revolving Credit Facility is also subject to an interest coverage ratio covenant that is tested at the end of each fiscal quarter with respect to the Company’s preceding four fiscal quarters. The Company was in compliance with this financial covenant as of August 4, 2023.

Aggregate Future Maturities

The following table presents the aggregate future maturities of the Company’s debt as of August 4, 2023 for the periods indicated:


	Maturities by Fiscal Year
	2024 (remaining six months)		2025		2026		2027		2028		Thereafter		Total

	(in millions)
Senior Notes	$	—	$	1,000	$	1,000	$	5,250	$	500	$	8,381	$	16,131
Legacy Notes and Debentures	—		—		—		—		—		952		952
DFS Debt	2,827		4,341		1,511		773		590		1		10,043
Other	100		122		27		8		5		—		262
Total maturities, principal amount	2,927		5,463		2,538		6,031		1,095		9,334		27,388
Associated carrying value adjustments	(2)		(7)		(7)		(36)		(8)		(190)		(250)
Total maturities, carrying value amount	$	2,925	$	5,456	$	2,531	$	5,995	$	1,087	$	9,144	$	27,138

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1C
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

DEBT - Additional Information (Details) - Unsecured Debt $ in Billions	6 Months Ended
	Aug. 04, 2023 USD ($)
5.45% due June 2023
Debt Instrument [Line Items]
Repayment of principal amount	$ 1
Interest rate	5.45%
6.02% due June 2026
Debt Instrument [Line Items]
Repayment of principal amount	$ 1
Interest rate	6.02%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

FINANCIAL SERVICES - Finance Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Receivables [Abstract]
Net revenue — products	$ 292	$ 219	$ 539	$ 439
Cost of net revenue — products	192	164	388	368
Gross margin — products	$ 100	$ 55	$ 151	$ 71

INVESTMENTS - Carrying Value of Equity Securities (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Marketable
Cost	$ 12	$ 56
Unrealized Gain	19	17
Unrealized Loss	(26)	(40)
Carrying Value	5	33
Non-marketable
Cost	729	714
Unrealized Gain	660	651
Unrealized Loss	(146)	(100)
Carrying Value	1,243	1,265
Total equity and other securities
Cost	741	770
Unrealized Gain	679	668
Unrealized Loss	(172)	(140)
Carrying Value	$ 1,248	$ 1,298

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		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	$ 49	$ 166	$ 59	$ 538
Gain (Loss) Reclassified from Accumulated OCI into Income	(68)	306	(159)	402
Effect on the consolidated statement of income	(16)	(73)	20	(287)
Total net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(63)	307	(151)	430
Total cost of net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(5)	(1)	(8)	(28)
Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	0	0	0	0
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	49	166	59	538
Foreign exchange contracts \| Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Effect on the consolidated statement of income	(40)	(74)	17	(305)
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]
Effect on the consolidated statement of income	$ 24	$ 1	$ 3	$ 18

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Information on Selected Accounts (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023	Jul. 29, 2022	Jan. 28, 2022
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 8,364	$ 8,607
Restricted cash - other current assets	281	272
Restricted cash - other non-current assets	5	15
Total cash, cash equivalents, and restricted cash	8,650	8,894	$ 6,093	$ 10,082
Inventories:
Production materials	2,197	3,225
Work-in-process	604	708
Finished goods	783	843
Total inventories	3,584	4,776
Deferred Costs:
Total deferred costs, current	5,837	5,459
Property, plant, and equipment, net:
Total property, plant, and equipment	13,548	13,092
Accumulated depreciation and amortization	(7,296)	(6,883)
Equipment under operating lease, net	6,252	6,209
Computer equipment
Property, plant, and equipment, net:
Total property, plant, and equipment	7,385	6,899
Land and buildings
Property, plant, and equipment, net:
Total property, plant, and equipment	2,936	3,059
Machinery and other equipment
Property, plant, and equipment, net:
Total property, plant, and equipment	$ 3,227	$ 3,134

LEASES - Narrative (Details)	Aug. 04, 2023
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years

FAIR VALUE MEASUREMENTS - Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Assets:
Marketable equity and other securities	$ 5	$ 33
Derivative instruments	185	295
Total assets	4,758	4,629
Liabilities:
Derivative instruments	76	460
Total liabilities	76	460
Level 1
Assets:
Marketable equity and other securities	5	33
Derivative instruments	0	0
Total assets	4,573	4,334
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Level 2
Assets:
Marketable equity and other securities	0	0
Derivative instruments	185	295
Total assets	185	295
Liabilities:
Derivative instruments	76	460
Total liabilities	76	460
Level 3
Assets:
Marketable equity and other securities	0	0
Derivative instruments	0	0
Total assets	0	0
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Money market funds
Assets:
Money market funds	4,568	4,301
Money market funds \| Level 1
Assets:
Money market funds	4,568	4,301
Money market funds \| Level 2
Assets:
Money market funds	0	0
Money market funds \| Level 3
Assets:
Money market funds	$ 0	$ 0

FINANCIAL SERVICES - Finance Leases Future Maturity (Details) $ in Millions	Aug. 04, 2023 USD ($)
Lessor, Lease, Description [Line Items]
Fiscal 2024 (remaining six months)	$ 1,445
Fiscal 2025	2,063
Fiscal 2026	1,540
Fiscal 2027	822
Fiscal 2028 and beyond	297
Total undiscounted cash flows	6,167
Total customer receivables, gross	10,619
Less: Unearned income	(891)
Fixed-term loans
Lessor, Lease, Description [Line Items]
Total customer receivables, gross	5,163
Revolving loans
Lessor, Lease, Description [Line Items]
Total customer receivables, gross	$ 180

CAPITALIZATION

6 Months Ended

Aug. 04, 2023

Equity [Abstract]

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 August 4, 2023
Class A	600	379	379
Class B	200	91	91
Class C	7,900	347	254
Class D	100	—	—

	8,800	817	724

Common stock as of February 3, 2023
Class A	600	379	379
Class B	200	95	95
Class C	7,900	324	242
Class D	100	—	—

	8,800	798	716

Preferred Stock

The Company is authorized to issue one million shares of preferred stock, par value $0.01 per share. As of August 4, 2023 and February 3, 2023, no shares of preferred stock were issued or outstanding.

Common Stock

Dell Technologies Common Stock — The Class A Common Stock, the Class B Common Stock, the Class C Common Stock, and the Class D Common Stock are collectively referred to as Dell Technologies Common Stock. The par value for all series 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.

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 three months ended August 4, 2023, the Company issued 4,716,548 shares of Class C Common Stock to stockholders upon the 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.

Dividends

On February 24, 2022, the Company announced that the Board of Directors adopted a dividend policy providing for our payment of quarterly cash dividends on the Dell Technologies Common Stock at a rate of $0.33 per share per fiscal quarter beginning in the first quarter of Fiscal 2023. On March 2, 2023, the Company announced that the Board of Directors approved a 12% increase in the quarterly dividend rate from $0.33 per share per fiscal quarter to a rate of $0.37 per share per fiscal quarter beginning in the first quarter of Fiscal 2024.

The Company paid the following dividends during the periods presented:


Three Months Ended	Declaration Date	Record Date	Payment Date	Dividend per Share		Amount (in millions)
Fiscal 2024
May 5, 2023	March 2, 2023	April 25, 2023	May 5, 2023	$	0.37	$	270
August 4, 2023	June 16, 2023	July 25, 2023	August 4, 2023	$	0.37	$	268
Fiscal 2023
April 29, 2022	February 24, 2022	April 20, 2022	April 29, 2022	$	0.33	$	248
July 29, 2022	June 7, 2022	July 20, 2022	July 29, 2022	$	0.33	$	242

During the three and six months ended August 4, 2023, the Company also paid an immaterial amount of dividend equivalents on eligible vested equity awards which are not reflected above.

Repurchases of Common Stock

Effective as of September 23, 2021, the Company’s Board of Directors approved a stock repurchase program under which the Company is authorized to repurchase up to $5.0 billion of shares of Class C Common Stock with no fixed expiration date. During the six months ended August 4, 2023, the Company repurchased approximately 11 million shares of Class C Common Stock for a total purchase price of approximately $0.5 billion. During the six months ended July 29, 2022, the Company repurchased approximately 42 million shares of Class C Common Stock for a total purchase price of approximately $2.1 billion.

The above repurchases of Class C Common Stock exclude shares withheld from stock awards to settle employee tax withholding obligations related to the vesting of such awards.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

LEASES - Maturity of Operating Leases (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Lessee, Operating Lease, Liability, Payment, Due
Fiscal 2024 (remaining six months)	$ 131
Fiscal 2025	232
Fiscal 2026	182
Fiscal 2027	145
Fiscal 2028	104
Thereafter	140
Total lease payments	934
Less: Imputed interest	(79)
Total	855	$ 890
Current operating lease liabilities	255	260
Non-current operating lease liabilities	$ 600	$ 630

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Current assets:
Cash and cash equivalents	$ 8,364	$ 8,607
Short-term financing receivables, net of allowance of $72 and $142 (Note 4)	4,807	5,281
Inventories	3,584	4,776
Other current assets	11,047	10,827
Current assets held for sale	442	0
Total current assets	38,999	42,351
Property, plant, and equipment, net	6,252	6,209
Long-term investments	1,331	1,518
Long-term financing receivables, net of allowance of $77 and $59 (Note 4)	5,813	5,638
Goodwill	19,640	19,676
Intangible assets, net	6,060	6,468
Due from related party, net	236	440
Other non-current assets	7,327	7,311
Total assets	85,658	89,611
Current liabilities:
Short-term debt	6,961	6,573
Accrued and other	6,586	8,874
Short-term deferred revenue	16,174	15,542
Total current liabilities	50,942	51,654
Long-term debt	20,177	23,015
Long-term deferred revenue	14,138	14,744
Other non-current liabilities	3,078	3,223
Total liabilities	88,335	92,636
Commitments and contingencies (Note 10)
Stockholders’ equity (deficit):
Common stock and capital in excess of $0.01 par value (Note 13)	8,554	8,424
Treasury stock at cost	(4,320)	(3,813)
Accumulated deficit	(6,249)	(6,732)
Accumulated other comprehensive loss	(757)	(1,001)
Total Dell Technologies Inc. stockholders’ equity (deficit)	(2,772)	(3,122)
Non-controlling interests	95	97
Total stockholders’ equity (deficit)	(2,677)	(3,025)
Total liabilities and stockholders’ equity	85,658	89,611
Nonrelated Party
Current assets:
Accounts receivable, net of allowance & Due from related party, net	10,351	12,482
Current liabilities:
Accounts payable & Due to related party	19,969	18,598
Related Party
Current assets:
Accounts receivable, net of allowance & Due from related party, net	404	378
Due from related party, net	236	440
Current liabilities:
Accounts payable & Due to related party	$ 1,252	$ 2,067

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Aug. 04, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT INFORMATION (Tables)

6 Months Ended

Aug. 04, 2023

Segment Reporting [Abstract]

Schedule of reconciliation of revenue from segments to consolidated net revenue

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 segment operating income to the Company’s consolidated operating income for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	8,461	$	9,536	$	16,054	$	18,821
Client Solutions Group	12,942		15,490		24,925		31,077
Reportable segment net revenue	21,403		25,026		40,979		49,898
Other businesses (a)	1,528		1,399		2,871		2,638
Unallocated transactions (b)	3		—		6		5

Total consolidated net revenue	$	22,934	$	26,425	$	43,856	$	52,541

Consolidated operating income:
Infrastructure Solutions Group	$	1,049	$	1,046	$	1,789	$	2,128
Client Solutions Group	969		978		1,861		2,093
Reportable segment operating income	2,018		2,024		3,650		4,221
Other businesses (a)	(44)		(71)		(80)		(135)
Unallocated transactions (b)	3		(1)		5		1
Impact of purchase accounting (c)	(4)		(3)		(8)		(12)
Amortization of intangibles	(209)		(244)		(408)		(487)
Transaction-related expenses (d)	(3)		(3)		(6)		(8)
Stock-based compensation expense (e)	(223)		(236)		(448)		(468)
Other corporate expenses (f)	(373)		(196)		(471)		(292)
Total consolidated operating income	$	1,165	$	1,270	$	2,234	$	2,820

____________________

(a)Other businesses consists of (i) VMware Resale, (ii) Secureworks, and (iii) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.

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

(c)Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction that was completed in September 2016.

(d)Transaction-related expenses includes acquisition, integration, and divestiture related costs.

(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 severance, impairment charges, facility action, payroll taxes associated with stock-based compensation, and other costs.

Schedule of disaggregation of net 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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	4,274	$	5,209	$	8,111	$	10,257
Storage	4,187		4,327		7,943		8,564
Total ISG net revenue	$	8,461	$	9,536	$	16,054	$	18,821
Client Solutions Group:
Commercial	$	10,554	$	12,141	$	20,416	$	24,112
Consumer	2,388		3,349		4,509		6,965
Total CSG net revenue	$	12,942	$	15,490	$	24,925	$	31,077

DEFERRED REVENUE (Tables)

6 Months Ended

Aug. 04, 2023

Revenue from Contract with Customer [Abstract]

Schedule of changes in deferred revenue

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	29,695	$	27,403	$	30,286	$	27,573
Revenue deferrals	6,025		5,572		10,744		10,547
Revenue recognized	(5,408)		(4,950)		(10,718)		(9,930)
Other (a)	—		—		—		(165)
Deferred revenue at end of period	$	30,312	$	28,025	$	30,312	$	28,025
Short-term deferred revenue	$	16,174	$	14,724	$	16,174	$	14,724
Long-term deferred revenue	$	14,138	$	13,301	$	14,138	$	13,301

____________________

(a) For the six months ended July 29, 2022, Other represents the reclassification of deferred revenue to accrued and other liabilities.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022
Cash flows from operating activities:
Net income	$ 1,033	$ 1,575
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,640	1,470
Stock-based compensation expense	448	468
Deferred income taxes	(194)	(382)
Other, net	480	449
Changes in assets and liabilities, net of effects from acquisitions and dispositions:
Accounts receivable	1,982	(926)
Financing receivables	(130)	78
Inventories	1,050	(113)
Other assets and liabilities	(2,248)	(1,710)
Due from/to related party, net	(610)	(84)
Accounts payable	1,427	(1,700)
Deferred revenue	113	1,330
Change in cash from operating activities	4,991	455
Cash flows from investing activities:
Purchases of investments	(113)	(80)
Maturities and sales of investments	127	68
Capital expenditures and capitalized software development costs	(1,325)	(1,497)
Other	22	11
Change in cash from investing activities	(1,289)	(1,498)
Cash flows from financing activities:
Proceeds from the issuance of common stock	4	5
Repurchases of common stock	(500)	(2,118)
Repurchases of common stock for employee tax withholdings	(312)	(358)
Payments of dividends and dividend equivalents	(545)	(490)
Proceeds from debt	4,655	6,465
Repayments of debt	(7,082)	(6,242)
Debt-related costs and other, net	(49)	(14)
Change in cash from financing activities	(3,829)	(2,752)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(117)	(194)
Change in cash, cash equivalents, and restricted cash	(244)	(3,989)
Cash, cash equivalents, and restricted cash at beginning of the period	8,894	10,082
Cash, cash equivalents, and restricted cash at the end of the period	$ 8,650	$ 6,093

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

6 Months Ended

Aug. 04, 2023

Jul. 29, 2022

Aug. 04, 2023

Jul. 29, 2022

Accumulated Other Comprehensive Income (Loss) [Line Items]

Net revenue

$ 22,934

$ 26,425

$ 43,856

$ 52,541

Cost of net revenue

^[1]

(17,547)

(20,986)

(33,451)

(41,318)

Net income

455

506

1,033

1,575

Total reclassifications, net of tax | Cash Flow Hedges

Accumulated Other Comprehensive Income (Loss) [Line Items]

Net revenue

(63)

307

(151)

430

Cost of net revenue

(5)

(1)

(8)

(28)

Net income

$ (68)

$ 306

$ (159)

$ 402

[1]


(a) Includes related party cost of net revenue as follows (Note 15):
Products	384	426	$	591	$	681
Services	880	762	$	1,756	$	1,471

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

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

+ References

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Severance charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Restructuring Cost and Reserve [Line Items]
Total severance charges	$ 364	$ 46	$ 412	$ 63
Cost of net revenue
Restructuring Cost and Reserve [Line Items]
Total severance charges	27	(2)	48	1
Selling, general, and administrative
Restructuring Cost and Reserve [Line Items]
Total severance charges	324	46	350	57
Research and development
Restructuring Cost and Reserve [Line Items]
Total severance charges	$ 13	$ 2	$ 14	$ 5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

DEBT - Commercial Paper Program (Details) - Commercial Paper Program - Commercial Paper - USD ($)	12 Months Ended
	Feb. 03, 2023	Aug. 04, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000,000
Debt instrument, term	397 days
Outstanding borrowing		$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 455	$ 506	$ 1,033	$ 1,575
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	(6)	(138)	25	(424)
Cash flow hedges:
Change in unrealized gains	49	166	59	538
Reclassification adjustment for net (gains) losses included in net income	68	(306)	159	(402)
Net change in cash flow hedges	117	(140)	218	136
Pension and other postretirement plans:
Recognition of actuarial net gains (losses) from pension and other postretirement plans	0	(4)	1	13
Net change in actuarial net gains from pension and other postretirement plans	0	(4)	1	13
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively	111	(282)	244	(275)
Comprehensive income, net of tax	566	224	1,277	1,300
Less: Net loss attributable to non-controlling interests	(7)	(5)	(12)	(8)
Less: Other comprehensive loss attributable to non-controlling interests	0	(1)	0	(1)
Comprehensive income attributable to Dell Technologies Inc.	$ 573	$ 230	$ 1,289	$ 1,309

CAPITALIZATION - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions									3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jun. 16, 2023	May 05, 2023	Mar. 02, 2023	Jul. 29, 2022	Jun. 07, 2022	Apr. 29, 2022	Feb. 24, 2022	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Equity [Abstract]
Dividend declared (in dollars per share)		$ 0.37		$ 0.37		$ 0.33		$ 0.33	$ 0.37	$ 0.33	$ 0.74	$ 0.66
Dividend paid (in dollars per share)	$ 0.37		$ 0.37		$ 0.33		$ 0.33
Dividends		$ 268		$ 270		$ 242		$ 248	$ 281	$ 248	$ 562	$ 501

LEASES

6 Months Ended

Aug. 04, 2023

Leases [Abstract]

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 August 4, 2023, the remaining terms of the Company’s leases range from one month to approximately ten years. As of August 4, 2023 and February 3, 2023, there were no material finance leases in which the Company was a lessee.

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 about the Company’s lessor arrangements.

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Operating lease costs	$	63	$	68	$	142	$	140
Variable costs	19		23		43		48
Total lease costs	$	82	$	91	$	185	$	188

For both the six months ended August 4, 2023 and July 29, 2022, 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 dates indicated:


	Classification	August 4, 2023			February 3, 2023

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	716		$	725

Current operating lease liabilities	Accrued and other current liabilities	$	255		$	260
Non-current operating lease liabilities	Other non-current liabilities	600			630
Total operating lease liabilities		$	855		$	890

Weighted-average remaining lease term (in years)		4.44			4.95
Weighted-average discount rate		4.12		%	3.48		%

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


	Six Months Ended
	August 4, 2023		July 29, 2022

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	153	$	156

Right-of-use assets obtained in exchange for new operating lease liabilities	$	131	$	103

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:


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	131
Fiscal 2025	232
Fiscal 2026	182
Fiscal 2027	145
Fiscal 2028	104
Thereafter	140
Total lease payments	934
Less: Imputed interest	(79)
Total	$	855
Current operating lease liabilities	$	255
Non-current operating lease liabilities	$	600

As of August 4, 2023, the Company’s undiscounted operating leases that had not yet commenced were immaterial.

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$ 153	$ 156
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 131	$ 103

FINANCIAL SERVICES - DFS Debt (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	$ 27,138	$ 29,588
Total DFS debt	27,388	29,867
Total short-term DFS debt	6,961	6,573
Total long-term DFS debt	20,177	23,015
Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	6,596	6,742
Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	3,447	3,548
Asset-based financing and securitization facilities \| Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	3,067	3,987
Asset-based financing and securitization facilities \| Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	793	790
Fixed-term securitization offerings \| Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	3,471	2,679
Other borrowings \| Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	58	76
Other borrowings \| Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	762	871
Note payable \| Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	250	250
Dell Bank senior unsecured eurobonds \| Unsecured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total debt, carrying value	1,642	1,637
DFS Debt
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt	10,043
DFS Debt \| Secured Debt
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt	10,043	10,290
Total short-term DFS debt	5,801	5,400
Total long-term DFS debt	$ 4,242	$ 4,890

INCOME AND OTHER TAXES	6 Months Ended
INCOME AND OTHER TAXES	Aug. 04, 2023
Income Tax Disclosure [Abstract]
INCOME AND OTHER TAXES	INCOME AND OTHER TAXES For the three months ended August 4, 2023, the Company’s effective income tax rate was 36.3% on pre-tax income of $0.7 billion compared to 20.3% on pre-tax income of $0.6 billion for the three months ended July 29, 2022. For the six months ended August 4, 2023, the Company’s effective income tax rate was 27.2% on pre-tax income of $1.4 billion compared to 14.8% on pre-tax income of $1.8 billion for the six months ended July 29, 2022. The changes in the Company’s effective income tax rate were attributable to changes in the Company’s jurisdictional mix of income, higher U.S. tax on foreign operations, and the impact of discrete tax items. The differences between the estimated effective income tax rates and the U.S. federal statutory rate of 21% principally result from the geographical distribution of income, differences between the book and tax treatment of certain items, and discrete tax 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 subject to these tax holidays and lower tax rates is attributable to Singapore and China. A significant portion of these income tax benefits relates to a tax holiday that will be effective until January 31, 2029. Most of the Company’s other tax holidays will expire in whole or in part during fiscal years 2030 through 2031. 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 or as a result of changes in tax legislation. As of August 4, 2023, the Company was not aware of any matters of noncompliance related to these tax holidays or enacted tax legislative changes affecting these tax holidays. In June 2023, the Company received Revenue Agent’s Reports for the examination by the Internal Revenue Service (“IRS”) of fiscal years 2015 through 2017 and fiscal years 2018 through 2019. The Company agreed with the IRS assessments relating to fiscal years 2015 through 2017 and settled those positions on August 24, 2023. The impact to the financial statements for that settlement is not material. For fiscal years 2018 through 2019, the IRS proposed adjustments primarily relating to certain transactions the Company completed as part of its business integration efforts, with which the Company disagrees and which it will contest through the IRS administrative appeals procedures. In August 2023, subsequent to the close of the Company’s second quarter of fiscal year 2024, the Company submitted a written protest to the IRS relating to certain assessments. The Company anticipates the appeals process for the resolution of these matters will extend beyond the next twelve months. The Company is also currently under income tax audits in various U.S. state and foreign taxing jurisdictions. The Company is undergoing negotiations, and in some cases contested proceedings, relating to tax matters with the taxing authorities in these jurisdictions. 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. The Company believes that it has provided adequate reserves related to all matters contained in tax periods open to examination, including the IRS audits described above. 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. Judgment is required in evaluating the Company’s uncertain tax positions and determining the Company’s provision for income taxes. Unrecognized tax benefits were $1.3 billion as of both August 4, 2023 and February 3, 2023 and are included in other non-current liabilities in the Condensed Consolidated Statements of Financial Position. Although timing of resolution or closure of uncertain tax positions is not certain, the Company believes it is reasonably possible that certain tax matters in various jurisdictions could be concluded within the next twelve months. The resolution of these matters could reduce the Company’s unrecognized tax benefits up to $0.4 billion including interest and penalties. Such a reduction would have a material impact on the Company’s effective tax rate. 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.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

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
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

FINANCIAL SERVICES - Schedule of Components of the Company's Financing Receivables Segregated by Portfolio Segment (Details) - USD ($) $ in Millions	Aug. 04, 2023	May 05, 2023	Feb. 03, 2023	Jul. 29, 2022	Apr. 29, 2022	Jan. 28, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	$ 10,619		$ 10,978
Financing receivables, net	10,620		10,919
Short-term	4,807		5,281
Long-term	5,813		5,638
Customer financing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	10,619		10,978
Allowances for losses	(149)	$ (219)	(201)	$ (183)	$ (181)	$ (189)
Financing receivables, net	10,470		10,777
Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	150		142
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	171		597
Short-term	171		597
Long-term	0		0
Revolving \| Customer financing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	180		685
Allowances for losses	(9)	(84)	(88)	(91)	(94)	(102)
Financing receivables, net	171		597
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	10,449		10,322
Short-term	4,636		4,684
Long-term	5,813		5,638
Fixed-term \| Customer financing receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	10,439		10,293
Allowances for losses	(140)	$ (135)	(113)	$ (92)	$ (87)	$ (87)
Financing receivables, net	10,299		10,180
Fixed-term \| Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	$ 150		$ 142

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) - $ / shares					3 Months Ended		6 Months Ended
	Jun. 16, 2023	Mar. 02, 2023	Jun. 07, 2022	Feb. 24, 2022	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Statement of Stockholders' Equity [Abstract]
Dividend declared (in dollars per share)	$ 0.37	$ 0.37	$ 0.33	$ 0.33	$ 0.37	$ 0.33	$ 0.74	$ 0.66

DEBT - Outstanding Debt (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Debt Instrument [Line Items]
Total debt, principal amount	$ 27,388	$ 29,867
Unamortized discount, net of unamortized premium	(119)	(133)
Debt issuance costs	(131)	(146)
Total debt, carrying value	27,138	29,588
Total short-term debt, carrying value	6,961	6,573
Total long-term debt, carrying value	20,177	23,015
DFS Debt
Debt Instrument [Line Items]
Total debt, principal amount	$ 10,043
Unsecured Debt \| 5.45% due June 2023
Debt Instrument [Line Items]
Interest rate	5.45%
Total debt, principal amount	$ 0	1,000
Unsecured Debt \| 4.00% due July 2024
Debt Instrument [Line Items]
Interest rate	4.00%
Total debt, principal amount	$ 1,000	1,000
Unsecured Debt \| 5.85% due July 2025
Debt Instrument [Line Items]
Interest rate	5.85%
Total debt, principal amount	$ 1,000	1,000
Unsecured Debt \| 6.02% due June 2026
Debt Instrument [Line Items]
Interest rate	6.02%
Total debt, principal amount	$ 3,500	4,500
Unsecured Debt \| 4.90% due October 2026
Debt Instrument [Line Items]
Interest rate	4.90%
Total debt, principal amount	$ 1,750	1,750
Unsecured Debt \| 6.10% due July 2027
Debt Instrument [Line Items]
Interest rate	6.10%
Total debt, principal amount	$ 500	500
Unsecured Debt \| 5.25% due February 2028
Debt Instrument [Line Items]
Interest rate	5.25%
Total debt, principal amount	$ 1,000	1,000
Unsecured Debt \| 5.30% due October 2029
Debt Instrument [Line Items]
Interest rate	5.30%
Total debt, principal amount	$ 1,750	1,750
Unsecured Debt \| 6.20% due July 2030
Debt Instrument [Line Items]
Interest rate	6.20%
Total debt, principal amount	$ 750	750
Unsecured Debt \| 5.75% due February 2033
Debt Instrument [Line Items]
Interest rate	5.75%
Total debt, principal amount	$ 1,000	1,000
Unsecured Debt \| 8.10% due July 2036
Debt Instrument [Line Items]
Interest rate	8.10%
Total debt, principal amount	$ 1,000	1,000
Unsecured Debt \| 3.38% due December 2041
Debt Instrument [Line Items]
Interest rate	3.38%
Total debt, principal amount	$ 982	1,000
Unsecured Debt \| 8.35% due July 2046
Debt Instrument [Line Items]
Interest rate	8.35%
Total debt, principal amount	$ 800	800
Unsecured Debt \| 3.45% due December 2051
Debt Instrument [Line Items]
Interest rate	3.45%
Total debt, principal amount	$ 1,099	1,250
Unsecured Debt \| 7.10% due April 2028
Debt Instrument [Line Items]
Interest rate	7.10%
Total debt, principal amount	$ 300	300
Unsecured Debt \| 6.50% due April 2038
Debt Instrument [Line Items]
Interest rate	6.50%
Total debt, principal amount	$ 388	388
Unsecured Debt \| 5.40% due September 2040
Debt Instrument [Line Items]
Interest rate	5.40%
Total debt, principal amount	$ 264	264
Secured Debt \| DFS Debt
Debt Instrument [Line Items]
Total debt, principal amount	10,043	10,290
Total short-term debt, carrying value	5,801	5,400
Total long-term debt, carrying value	4,242	4,890
Other
Debt Instrument [Line Items]
Total debt, principal amount	$ 262	$ 325

INCOME AND OTHER TAXES - Narrative (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022	Feb. 03, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	36.30%	20.30%	27.20%	14.80%
Income before income taxes	$ 0.7	$ 0.6	$ 1.4	$ 1.8
Unrecognized tax benefits	1.3		1.3		$ 1.3
Reasonably possible decrease in unrecognized tax benefits	$ 0.4		$ 0.4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
AOCI [Roll Forward]
Balance, beginning of period	$ (2,924)	$ (2,355)	$ (3,025)	$ (1,580)
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively	111	(282)	244	(275)
Balance, end of period	(2,677)	(2,755)	(2,677)	(2,755)
Foreign Currency Translation Adjustments
AOCI [Roll Forward]
Balance, beginning of period			(747)
Other comprehensive income before reclassifications			25
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively			25
Balance, end of period	(722)		(722)
Cash Flow Hedges
AOCI [Roll Forward]
Balance, beginning of period			(222)
Other comprehensive income before reclassifications			59
Amounts reclassified from accumulated other comprehensive income (loss)			159
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively			218
Balance, end of period	(4)		(4)
Pension and Other Postretirement Plans
AOCI [Roll Forward]
Balance, beginning of period			(32)
Other comprehensive income before reclassifications			1
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively			1
Balance, end of period	(31)		(31)
Accumulated Other Comprehensive Income (Loss)
AOCI [Roll Forward]
Balance, beginning of period	(868)	(424)	(1,001)	(431)
Other comprehensive income before reclassifications			85
Amounts reclassified from accumulated other comprehensive income (loss)			159
Total other comprehensive income (loss), net of tax expense (benefit) of $7 and $(8), respectively, and $12 and $8, respectively			244
Balance, end of period	$ (757)	$ (705)	$ (757)	$ (705)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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-Name Accounting Standards Codification
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- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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-Subparagraph (b)(3)
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Aug. 04, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS There were no known events occurring after August 4, 2023 and up until the date of issuance of this report that would materially affect the information presented herein.

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Aug. 04, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	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 are recorded in the period in which such a determination is made. For some matters, the incurrence of a 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: Class Actions Related to the 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 its Class V Common Stock in exchange for all outstanding shares of Class V Common Stock. 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. Certain stockholders of the Company, subsequently brought class action complaints arising out of the Class V transaction in which they named as defendants (collectively, the “defendants”) Michael S. Dell and certain other directors serving on the Company’s board of directors at the time of the Class V transaction (collectively, the “director defendants”), certain stockholders of the Company, consisting of Mr. Dell and Silver Lake Group LLC and certain of its affiliated funds (collectively, the “stockholder defendants”), and Goldman Sachs & Co. LLC (“Goldman Sachs”), which served as financial advisor to the Company in connection with the transaction. The plaintiffs generally alleged that the director defendants and the stockholder defendants breached their fiduciary duties under Delaware law to the former holders of the Class V Common Stock in connection with the Class V transaction by offering a transaction value that was allegedly billions of dollars below fair value. As previously reported, during the fourth quarter of Fiscal 2023, the plaintiffs and the defendants entered into an agreement to settle the lawsuit. Under the terms of the settlement, the plaintiffs agreed to the dismissal of all claims upon payment of a total of $1.0 billion (the “settlement amount”), which includes all costs, expenses and fees of the plaintiff class relating to the action and its resolution. The settlement terms required that the settlement amount be paid by the Company and/or the Company’s insurers pursuant to indemnification obligations of the Company to the defendants. The Company is subject to indemnification obligations, upon the satisfaction of specified conditions, to the director and stockholder defendants and their affiliates pursuant to provisions of the Delaware General Corporation Law, the Company’s certificate of incorporation and bylaws, and agreements with the defendants. A special committee of the Board of Directors consisting of directors who were not defendants in the action, advised by independent counsel, informed the Board of Directors of its determination that the defendants are entitled to indemnification under the foregoing obligations. During Fiscal 2023, the Company established a $1.0 billion liability on the Consolidated Statements of Financial Position and recognized $0.9 billion expense, net of $106 million in insurance proceeds, within interest and other, net within the Consolidated Statements of Income related to the settlement agreement. The Company accounted for the expected insurance proceeds as a loss recovery and recognized a benefit within interest and other, net within the Condensed Consolidated Statements of Income and corresponding receivable on the Condensed Consolidated Statements of Financial Position. On May 16, 2023, the Company paid the settlement amount following approval of the settlement by the Delaware Court of Chancery. The payment is reflected within cash flows from operating activities within the Condensed Consolidated Statements of Cash Flows. The Company does not expect to incur additional expenses with respect to the settlement. Other Litigation — Dell does not currently anticipate that any of the other various legal proceedings it is involved in will have a material adverse effect on its business, financial condition, results of operations, or cash flows. In accordance with the relevant accounting guidance, the Company provides disclosures of matters where it is at least reasonably possible that the Company could experience a material loss exceeding the amounts already accrued for these or other proceedings or matters. In addition, the Company also discloses matters based on its consideration of other matters and qualitative factors, including the experience of other companies in the industry, and investor, customer, and employee relations considerations. As of August 4, 2023, 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 factors, including the nature, timing, and amount of any associated expenses, amounts paid in settlement, damages, or other remedies or consequences. Indemnifications Obligations In the ordinary course of business, the Company enters into various contracts under which it may agree to indemnify other parties for losses incurred from certain events as defined in the relevant contract, such as litigation, regulatory penalties, or claims relating to past performance. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments related to these indemnification obligations have not been material to the Company. Under the Separation and Distribution Agreement entered into with VMware, Inc. upon the completion of the spin-off of VMware, Inc. by means of a special stock dividend (the “VMware Spin-off”) on November 1, 2021, Dell Technologies has agreed to indemnify VMware, Inc., each of its subsidiaries and each of their respective directors, officers, and employees from and against all liabilities relating to, arising out of or resulting from, among other matters, the liabilities allocated to Dell Technologies as part of the separation of Dell Technologies and VMware, Inc. (individually and together with its subsidiaries, “VMware”) and their respective businesses (the “Separation”). VMware similarly has agreed to indemnify Dell Technologies Inc., each of its subsidiaries and each of their respective directors, officers, and employees from and against all liabilities relating to, arising out of or resulting from, among other matters, the liabilities allocated to VMware as part of the Separation. Dell Technologies expects VMware to fully perform under the terms of the Separation and Distribution Agreement. For information on the cross-indemnifications related to the tax matters agreement between the Company and VMware effective upon the Separation on November 1, 2021, see Note 15 of the Notes to the Condensed Consolidated Financial Statements.

Cover - shares	6 Months Ended
Cover - shares	Aug. 04, 2023	Sep. 06, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 04, 2023
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 of $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	--02-02
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Class C
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		254,312,441
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		378,480,523
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		90,633,679

FINANCIAL SERVICES - Credit Quality Indicators (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	$ 10,619	$ 10,978
Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	2,896	5,469
Fiscal year before current fiscal year	4,273	2,800
Two years before current fiscal year	2,013	1,433
Three years before current fiscal year	930	527
Four years before current fiscal year	309	61
Years Prior	18	3
Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	7	508
Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	173	177
Higher
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	6,596	6,477
Higher \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,997	3,210
Fiscal year before current fiscal year	2,453	1,805
Two years before current fiscal year	1,267	914
Three years before current fiscal year	617	343
Four years before current fiscal year	206	37
Years Prior	10	1
Higher \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	1	123
Higher \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	45	44
Mid
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	2,631	2,562
Mid \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	611	1,242
Fiscal year before current fiscal year	1,205	631
Two years before current fiscal year	480	362
Three years before current fiscal year	214	119
Four years before current fiscal year	63	17
Years Prior	5	1
Mid \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	3	136
Mid \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	50	54
Lower
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	1,392	1,939
Lower \| Fixed-term \| Fixed-term — Consumer and Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	288	1,017
Fiscal year before current fiscal year	615	364
Two years before current fiscal year	266	157
Three years before current fiscal year	99	65
Four years before current fiscal year	40	7
Years Prior	3	1
Lower \| Revolving \| Revolving — DPA
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	3	249
Lower \| Revolving \| Revolving — DBC
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	$ 78	$ 79

DEFERRED REVENUE - Changes in Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022	Feb. 03, 2023
Deferred revenue:
Deferred revenue at beginning of period	$ 29,695	$ 27,403	$ 30,286	$ 27,573
Revenue deferrals	6,025	5,572	10,744	10,547
Revenue recognized	(5,408)	(4,950)	(10,718)	(9,930)
Other	0	0	0	(165)
Deferred revenue at end of period	30,312	28,025	30,312	28,025
Short-term deferred revenue	16,174	14,724	16,174	14,724	$ 15,542
Long-term deferred revenue	$ 14,138	$ 13,301	$ 14,138	$ 13,301	$ 14,744

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Aug. 04, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding derivative instruments

The following table presents the notional amounts of outstanding derivative instruments as of the dates indicated:


	August 4, 2023		February 3, 2023

	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	7,245	$	7,746
Non-designated as hedging instruments	6,434		6,833
Total	$	13,679	$	14,579
Interest rate contracts:
Designated as fair value hedging instruments	$	—	$	1,000
Non-designated as hedging instruments	6,395		7,214
Total	$	6,395	$	8,214

Schedule of derivative instruments designated as hedging instruments

The following table presents the effect of derivative instruments designated as cash flow hedging instruments on the Condensed Consolidated Statements of Financial Position and the Condensed Consolidated Statements of Income for the periods indicated:


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 August 4, 2023:
			Total net revenue	$	(63)
Foreign exchange contracts	$	49	Total cost of net revenue	(5)
Interest rate contracts	—		Interest and other, net	—
Total	$	49	Total	$	(68)

For the three months ended July 29, 2022:
			Total net revenue	$	307
Foreign exchange contracts	$	166	Total cost of net revenue	(1)
Interest rate contracts	—		Interest and other, net	—
Total	$	166	Total	$	306


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 six months ended August 4, 2023:
			Total net revenue	$	(151)
Foreign exchange contracts	$	59	Total cost of net revenue	(8)
Interest rate contracts	—		Interest and other, net	—
Total	$	59	Total	$	(159)

For the six months ended July 29, 2022:
			Total net revenue	$	430
Foreign exchange contracts	$	538	Total cost of net revenue	(28)
Interest rate contracts	—		Interest and other, net	—
Total	$	538	Total	$	402

Schedule of derivative instruments not designated as hedging instruments

The following table presents the effect of derivative instruments not designated as hedging instruments on the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022		Location of Gain (Loss) Recognized

	(in millions)
Foreign exchange contracts	$	(40)	$	(74)	$	17	$	(305)	Interest and other, net
Interest rate contracts	24		1		3		18		Interest and other, net

Total	$	(16)	$	(73)	$	20	$	(287)

Schedule of 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:


	August 4, 2023
	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	$	114	$	—	$	5	$	—	$	119
Foreign exchange contracts in a liability position	(18)		—		(4)		—		(22)
Interest rate contracts in an asset position	—		—		—		—		—
Interest rate contracts in a liability position	—		—		—		—		—
Net asset (liability)	96		—		1		—		97
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	163		1		29		—		193
Foreign exchange contracts in a liability position	(149)		—		(68)		—		(217)
Interest rate contracts in an asset position	6		68		—		—		74
Interest rate contracts in a liability position	—		—		(21)		(17)		(38)
Net asset (liability)	20		69		(60)		(17)		12
Total derivatives at fair value	$	116	$	69	$	(59)	$	(17)	$	109

	February 3, 2023
	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	$	7	$	—	$	30	$	—	$	37
Foreign exchange contracts in a liability position	(21)		—		(142)		—		(163)
Interest rate contracts in an asset position	—		—		—		—		—
Interest rate contracts in a liability position	—		—		—		(6)		(6)
Net asset	(14)		—		(112)		(6)		(132)
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	282		1		368		—		651
Foreign exchange contracts in a liability position	(121)		—		(614)		(1)		(736)
Interest rate contracts in an asset position	14		133		—		—		147
Interest rate contracts in a liability position	—		—		—		(95)		(95)
Net asset (liability)	175		134		(246)		(96)		(33)
Total derivatives at fair value	$	161	$	134	$	(358)	$	(102)	$	(165)

Schedule of gross amounts of derivative instruments

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:


	August 4, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	386	$	(201)	$	185	$	—	$	(43)	$	142
Financial liabilities	(277)		201		(76)		—		17		(59)
Total derivative instruments	$	109	$	—	$	109	$	—	$	(26)	$	83

	February 3, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	835	$	(540)	$	295	$	—	$	—	$	295
Financial liabilities	(1,000)		540		(460)		—		25		(435)
Total derivative instruments	$	(165)	$	—	$	(165)	$	—	$	25	$	(140)

Schedule of offsetting amounts


	August 4, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	386	$	(201)	$	185	$	—	$	(43)	$	142
Financial liabilities	(277)		201		(76)		—		17		(59)
Total derivative instruments	$	109	$	—	$	109	$	—	$	(26)	$	83

	February 3, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	835	$	(540)	$	295	$	—	$	—	$	295
Financial liabilities	(1,000)		540		(460)		—		25		(435)
Total derivative instruments	$	(165)	$	—	$	(165)	$	—	$	25	$	(140)

CAPITALIZATION (Tables)

6 Months Ended

Aug. 04, 2023

Equity [Abstract]

Schedule of stock by class

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 August 4, 2023
Class A	600	379	379
Class B	200	91	91
Class C	7,900	347	254
Class D	100	—	—

	8,800	817	724

Common stock as of February 3, 2023
Class A	600	379	379
Class B	200	95	95
Class C	7,900	324	242
Class D	100	—	—

	8,800	798	716

Schedule of dividends declared

The Company paid the following dividends during the periods presented:


Three Months Ended	Declaration Date	Record Date	Payment Date	Dividend per Share		Amount (in millions)
Fiscal 2024
May 5, 2023	March 2, 2023	April 25, 2023	May 5, 2023	$	0.37	$	270
August 4, 2023	June 16, 2023	July 25, 2023	August 4, 2023	$	0.37	$	268
Fiscal 2023
April 29, 2022	February 24, 2022	April 20, 2022	April 29, 2022	$	0.33	$	248
July 29, 2022	June 7, 2022	July 20, 2022	July 29, 2022	$	0.33	$	242

- 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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-Section S99
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-Subparagraph (SX 210.5-02(27))
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

INVESTMENTS (Tables)

6 Months Ended

Aug. 04, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of carrying value of equity securities


	August 4, 2023								February 3, 2023
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Marketable	$	12	$	19	$	(26)	$	5	$	56	$	17	$	(40)	$	33
Non-marketable	729		660		(146)		1,243		714		651		(100)		1,265
Total equity and other securities	$	741	$	679	$	(172)	$	1,248	$	770	$	668	$	(140)	$	1,298

Schedule of gain (loss) on securities

The following table presents unrealized gains and losses on marketable and non-marketable equity and other securities for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Marketable securities:
Unrealized gain	$	1	$	7	$	1	$	7
Unrealized loss	—		(1)		(23)		(19)
Net unrealized gain (loss)	1		6		(22)		(12)
Non-marketable securities:
Unrealized gain	—		51		9		72
Unrealized loss	(41)		(320)		(46)		(320)
Net unrealized loss (a)	(41)		(269)		(37)		(248)
Net unrealized loss on equity and other securities	$	(40)	$	(263)	$	(59)	$	(260)

____________________

Schedule of fixed income debt securities

The following table summarizes the Company’s debt securities as of the dates indicated:


	August 4, 2023								February 3, 2023
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Fixed income debt securities	$	339	$	55	$	(85)	$	309	$	348	$	65	$	(95)	$	318

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Aug. 04, 2023

Jul. 29, 2022

Aug. 04, 2023

Jul. 29, 2022

Net revenue:

Total net revenue

$ 22,934

$ 26,425

$ 43,856

$ 52,541

Cost of net revenue :

Total cost of net revenue

^[1]

17,547

20,986

33,451

41,318

Gross margin

5,387

5,439

10,405

11,223

Operating expenses:

Selling, general, and administrative

3,517

3,543

6,778

7,096

Research and development

705

626

1,393

1,307

Total operating expenses

4,222

4,169

8,171

8,403

Operating income

1,165

1,270

2,234

2,820

Interest and other, net

(451)

(635)

(815)

(972)

Income before income taxes

714

635

1,419

1,848

Income tax expense

259

129

386

273

Net income

455

506

1,033

1,575

Less: Net loss attributable to non-controlling interests

(7)

(5)

(12)

(8)

Net income attributable to Dell Technologies Inc.

$ 462

$ 511

$ 1,045

$ 1,583

Earnings per share attributable to Dell Technologies Inc.

Basic (in dollars per share)

$ 0.64

$ 0.69

$ 1.44

$ 2.12

Diluted (in dollars per share)

$ 0.63

$ 0.68

$ 1.42

$ 2.06

Products

Net revenue:

Total net revenue

$ 16,935

$ 20,810

$ 31,971

$ 41,274

Cost of net revenue :

Total cost of net revenue

^[1]

14,002

17,671

26,377

34,680

Services

Net revenue:

Total net revenue

5,999

5,615

11,885

11,267

Cost of net revenue :

Total cost of net revenue

^[1]

$ 3,545

$ 3,315

$ 7,074

$ 6,638

[1]


(a) Includes related party cost of net revenue as follows (Note 15):
Products	384	426	$	591	$	681
Services	880	762	$	1,756	$	1,471

COMMITMENTS AND CONTINGENCIES (Details) - Class V Transaction Class Action Case - USD ($) $ in Millions		12 Months Ended
	Dec. 28, 2018	Feb. 03, 2023
Loss Contingencies [Line Items]
Cash	$ 14,000
Shares issued (in shares)	149,387,617
Settled Litigation
Loss Contingencies [Line Items]
Amount awarded to other party		$ 1,000
Loss contingency liability		1,000
Litigation settlement expense		900
Insurance recoveries		$ 106

OVERVIEW AND BASIS OF PRESENTATION	6 Months Ended
OVERVIEW AND BASIS OF PRESENTATION	Aug. 04, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OVERVIEW AND BASIS OF PRESENTATION	OVERVIEW AND BASIS OF PRESENTATION Dell Technologies is a leading global end-to-end technology provider that designs, develops, manufactures, markets, sells, and supports a wide range of comprehensive and integrated solutions, products, and services. Dell Technologies offerings include servers and networking, storage, cloud solutions, desktops, notebooks, services, software, and third-party software and peripherals. 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 3, 2023. 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 the Company as of August 4, 2023 and February 3, 2023, the results of its operations, corresponding comprehensive income, and changes in stockholders’ equity for the three and for the six months ended August 4, 2023 and July 29, 2022, and its cash flows for the six months ended August 4, 2023 and July 29, 2022. 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 the Company’s operations, corresponding comprehensive income, and changes in stockholders’ equity for the three and six months ended August 4, 2023 and July 29, 2022, and its cash flows for the six months ended August 4, 2023 and July 29, 2022 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 3, 2023 (“Fiscal 2023”) was a 53-week period while the fiscal year ending February 2, 2024 (“Fiscal 2024”) will be a 52-week period. Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies Inc. and its wholly-owned subsidiaries, and the accounts of SecureWorks Corp. (“Secureworks”), which is majority-owned by Dell Technologies. All intercompany transactions have been eliminated. Secureworks — As of August 4, 2023 and February 3, 2023, the Company held approximately 81.2% and 82.6%, respectively, of the outstanding equity interest in Secureworks. The portion of the results of operations of Secureworks allocable to its other owners is shown as net loss attributable to the non-controlling interests in the Condensed Consolidated Statements of Income, as an adjustment to net income attributable to Dell Technologies stockholders. 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 $95 million and $97 million as of August 4, 2023 and February 3, 2023, respectively. Variable Interest Entities — The Company consolidates Variable Interest Entities ("VIEs") where it has been determined that the Company is the primary beneficiary of the applicable entities’ operations. For each VIE, the primary beneficiary is the party that has both the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to such VIE. In evaluating whether the Company is the primary beneficiary of each entity, the Company evaluates its power to direct the most significant activities of the VIE by considering the purpose and design of each entity and the risks each entity was designed to create and pass through to its respective variable interest holders. The Company also evaluates its economic interests in each of the VIEs. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information regarding consolidated VIEs. Other Events — On July 12, 2023, the Company entered into a definitive agreement with Comenity Capital Bank, a subsidiary of Bread Financial Holdings, Inc. (“Bread”) to establish a new U.S. Dell Preferred Account program under which transactions will be originated, owned, serviced, and collected by Bread. Under the definitive agreement, the Company will also sell its U.S. consumer revolving customer receivables portfolio. Upon the completion of the sale, such receivables will be serviced by Bread and the Company will have no continuing involvement. The transaction is expected to close in the third quarter of Fiscal 2024, subject to customary closing conditions. In accordance with applicable accounting guidance, the Company concluded that the U.S. consumer revolving customer financing receivables have met the criteria to be classified as held for sale as of August 4, 2023. Accordingly, the Company reclassified $389 million, net of allowance, to current assets held for sale on the Condensed Consolidated Statements of Financial Position as of August 4, 2023. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information.

OVERVIEW AND BASIS OF PRESENTATION (Policies)	6 Months Ended
OVERVIEW AND BASIS OF PRESENTATION (Policies)	Aug. 04, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	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	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 3, 2023. 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 the Company as of August 4, 2023 and February 3, 2023, the results of its operations, corresponding comprehensive income, and changes in stockholders’ equity for the three and for the six months ended August 4, 2023 and July 29, 2022, and its cash flows for the six months ended August 4, 2023 and July 29, 2022. 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 the Company’s operations, corresponding comprehensive income, and changes in stockholders’ equity for the three and six months ended August 4, 2023 and July 29, 2022, and its cash flows for the six months ended August 4, 2023 and July 29, 2022 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 3, 2023 (“Fiscal 2023”) was a 53-week period while the fiscal year ending February 2, 2024 (“Fiscal 2024”) will be a 52-week period.
Principles of Consolidation	Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies Inc. and its wholly-owned subsidiaries, and the accounts of SecureWorks Corp. (“Secureworks”), which is majority-owned by Dell Technologies. All intercompany transactions have been eliminated.
Variable Interest Entities	Variable Interest Entities — The Company consolidates Variable Interest Entities ("VIEs") where it has been determined that the Company is the primary beneficiary of the applicable entities’ operations. For each VIE, the primary beneficiary is the party that has both the power to direct the activities that most significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to such VIE. In evaluating whether the Company is the primary beneficiary of each entity, the Company evaluates its power to direct the most significant activities of the VIE by considering the purpose and design of each entity and the risks each entity was designed to create and pass through to its respective variable interest holders. The Company also evaluates its economic interests in each of the VIEs. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information regarding consolidated VIEs.
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 money market fund liquidity on a quarterly basis. As of August 4, 2023, the Company’s portfolio had no material exposure to money market funds with a fluctuating net asset value.
Marketable Equity and Other Securities	Marketable Equity and Other Securities — The Company’s investments in equity and other securities that are measured at fair value on a recurring basis consist 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 financial 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 instruments. For derivatives designated as fair value hedges, the Company assesses hedge effectiveness on qualifying instruments using the shortcut method whereby the hedges are considered perfectly effective at the onset of the hedge and over the life of the hedging relationship.
Deferred Compensation Plans	Deferred Compensation Plans — The Company offers deferred compensation plans for eligible employees, which allow participants to defer a portion of their compensation. Assets were the same as liabilities associated with the plans at approximately $197 million and $179 million as of August 4, 2023 and February 3, 2023, 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 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.
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.

EARNINGS PER SHARE

6 Months Ended

Aug. 04, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net income by the weighted-average shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares used in the basic earnings 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 per share if the effect of including such instruments is antidilutive.

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022
Earnings per share attributable to Dell Technologies Inc.
Dell Technologies Common Stock — Basic	$	0.64	$	0.69	$	1.44	$	2.12
Dell Technologies Common Stock — Diluted	$	0.63	$	0.68	$	1.42	$	2.06

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. - basic and diluted	$	462	$	511	$	1,045	$	1,583






Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding — basic	726		739		725		746
Dilutive effect of options, restricted stock units, restricted stock, and other	12		16		12		22
Weighted-average shares outstanding — diluted	738		755		737		768
Weighted-average shares outstanding — antidilutive	—		15		8		8

EARNINGS PER SHARE - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Earnings Per Share [Abstract]
Dell Technologies Common Stock - Basic (in dollars per share)	$ 0.64	$ 0.69	$ 1.44	$ 2.12
Dell Technologies Common Stock - Diluted (in dollars per share)	$ 0.63	$ 0.68	$ 1.42	$ 2.06
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. - basic	$ 462	$ 511	$ 1,045	$ 1,583
Net income attributable to Dell Technologies Inc. - diluted	$ 462	$ 511	$ 1,045	$ 1,583
Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted average shares outstanding, basic (in shares)	726	739	725	746
Dilutive effect of options, restricted stock units, restricted stock, and other (in shares)	12	16	12	22
Weighted average shares outstanding, diluted (in shares)	738	755	737	768
Weighted-average shares outstanding - antidilutive (in shares)	0	15	8	8

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Derivative Instruments in the Condensed Consolidated Statements of Financial Position (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Derivatives, Fair Value [Line Items]
Asset position	$ 386	$ 835
Liability position	(277)	(1,000)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	109	(165)
Other Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	116	161
Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	69	134
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(59)	(358)
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(17)	(102)
Designated as cash flow hedging instruments
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	97	(132)
Designated as cash flow hedging instruments \| Other Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	96	(14)
Designated as cash flow hedging instruments \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	0	0
Designated as cash flow hedging instruments \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	1	(112)
Designated as cash flow hedging instruments \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	0	(6)
Designated as cash flow hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset position	119	37
Liability position	(22)	(163)
Designated as cash flow hedging instruments \| Foreign exchange contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	114	7
Liability position	(18)	(21)
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	5	30
Liability position	(4)	(142)
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
Designated as cash flow hedging instruments \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	(6)
Designated as cash flow hedging instruments \| Interest rate contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Designated as cash flow hedging instruments \| Interest rate contracts \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Designated as cash flow hedging instruments \| Interest rate contracts \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Designated as cash flow hedging instruments \| Interest rate contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	(6)
Non-designated as hedging instruments
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	12	(33)
Non-designated as hedging instruments \| Other Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	20	175
Non-designated as hedging instruments \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	69	134
Non-designated as hedging instruments \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(60)	(246)
Non-designated as hedging instruments \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(17)	(96)
Non-designated as hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Asset position	193	651
Liability position	(217)	(736)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	163	282
Liability position	(149)	(121)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Asset position	1	1
Liability position	0	0
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	29	368
Liability position	(68)	(614)
Non-designated as hedging instruments \| Foreign exchange contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	(1)
Non-designated as hedging instruments \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset position	74	147
Liability position	(38)	(95)
Non-designated as hedging instruments \| Interest rate contracts \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	6	14
Liability position	0	0
Non-designated as hedging instruments \| Interest rate contracts \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Asset position	68	133
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	(21)	0
Non-designated as hedging instruments \| Interest rate contracts \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	$ (17)	$ (95)

DEBT (Tables)

6 Months Ended

Aug. 04, 2023

Debt Disclosure [Abstract]

Schedule of outstanding debt


	August 4, 2023		February 3, 2023

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing and securitization facilities	$	3,067	$	3,987
Fixed-term securitization offerings	3,471		2,679
Other	58		76
Total DFS U.S. debt	6,596		6,742
DFS international debt:
Securitization facility	793		790
Other borrowings	762		871
Note payable	250		250
Dell Bank senior unsecured eurobonds	1,642		1,637
Total DFS international debt	3,447		3,548
Total DFS debt	$	10,043	$	10,290
Total short-term DFS debt	$	5,801	$	5,400
Total long-term DFS debt	$	4,242	$	4,890

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


	August 4, 2023		February 3, 2023

	(in millions)
Senior Notes:
5.45% due June 2023	$	—	$	1,000
4.00% due July 2024	1,000		1,000
5.85% due July 2025	1,000		1,000
6.02% due June 2026	3,500		4,500
4.90% due October 2026	1,750		1,750
6.10% due July 2027	500		500
5.25% due February 2028	1,000		1,000
5.30% due October 2029	1,750		1,750
6.20% due July 2030	750		750
5.75% due February 2033	1,000		1,000
8.10% due July 2036	1,000		1,000
3.38% due December 2041	982		1,000
8.35% due July 2046	800		800
3.45% due December 2051	1,099		1,250
Legacy Notes and Debentures:
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
DFS Debt (Note 4)	10,043		10,290
Other	262		325
Total debt, principal amount	$	27,388	$	29,867
Unamortized discount, net of unamortized premium	(119)		(133)
Debt issuance costs	(131)		(146)
Total debt, carrying value	$	27,138	$	29,588
Total short-term debt, carrying value	$	6,961	$	6,573
Total long-term debt, carrying value	$	20,177	$	23,015

Schedule of aggregate future maturities

The following table presents the aggregate future maturities of the Company’s debt as of August 4, 2023 for the periods indicated:


	Maturities by Fiscal Year
	2024 (remaining six months)		2025		2026		2027		2028		Thereafter		Total

	(in millions)
Senior Notes	$	—	$	1,000	$	1,000	$	5,250	$	500	$	8,381	$	16,131
Legacy Notes and Debentures	—		—		—		—		—		952		952
DFS Debt	2,827		4,341		1,511		773		590		1		10,043
Other	100		122		27		8		5		—		262
Total maturities, principal amount	2,927		5,463		2,538		6,031		1,095		9,334		27,388
Associated carrying value adjustments	(2)		(7)		(7)		(36)		(8)		(190)		(250)
Total maturities, carrying value amount	$	2,925	$	5,456	$	2,531	$	5,995	$	1,087	$	9,144	$	27,138

SEGMENT INFORMATION - Disaggregation of Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Disaggregation of Revenue [Line Items]
Total net revenue	$ 22,934	$ 26,425	$ 43,856	$ 52,541
Operating segments
Disaggregation of Revenue [Line Items]
Total net revenue	21,403	25,026	40,979	49,898
Operating segments \| Infrastructure Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	8,461	9,536	16,054	18,821
Operating segments \| Infrastructure Solutions Group \| Servers and networking
Disaggregation of Revenue [Line Items]
Total net revenue	4,274	5,209	8,111	10,257
Operating segments \| Infrastructure Solutions Group \| Storage
Disaggregation of Revenue [Line Items]
Total net revenue	4,187	4,327	7,943	8,564
Operating segments \| Client Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	12,942	15,490	24,925	31,077
Operating segments \| Client Solutions Group \| Commercial
Disaggregation of Revenue [Line Items]
Total net revenue	10,554	12,141	20,416	24,112
Operating segments \| Client Solutions Group \| Consumer
Disaggregation of Revenue [Line Items]
Total net revenue	$ 2,388	$ 3,349	$ 4,509	$ 6,965

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

FINANCIAL SERVICES - Aging Customer Financing Receivables, Gross, Including Accrued Interest (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	$ 10,619	$ 10,978
Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,619	10,978
Revolving \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	180	685
Revolving \| Revolving — DPA \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	7	508
Revolving \| Revolving — DBC \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	173	177
Fixed-term \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,439	10,293
Fixed-term \| Fixed-term — Consumer and Commercial \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,439	10,293
Current \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	9,570	9,920
Current \| Revolving \| Revolving — DPA \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	7	457
Current \| Revolving \| Revolving — DBC \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	151	154
Current \| Fixed-term \| Fixed-term — Consumer and Commercial \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	9,412	9,309
Past Due 1 — 90 Days \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	987	980
Past Due 1 — 90 Days \| Revolving \| Revolving — DPA \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	0	34
Past Due 1 — 90 Days \| Revolving \| Revolving — DBC \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	18	19
Past Due 1 — 90 Days \| Fixed-term \| Fixed-term — Consumer and Commercial \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	969	927
Past Due >90 Days \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	62	78
Past Due >90 Days \| Revolving \| Revolving — DPA \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	0	17
Past Due >90 Days \| Revolving \| Revolving — DBC \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	4	4
Past Due >90 Days \| Fixed-term \| Fixed-term — Consumer and Commercial \| Customer financing receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	$ 58	$ 57

SEGMENT INFORMATION

6 Months Ended

Aug. 04, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

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

ISG enables the Company’s customers’ digital transformation with solutions that address the fundamental shift to multicloud environments, machine learning, artificial intelligence (“AI”), and data analytics. The Company’s comprehensive storage portfolio includes traditional as well as next-generation storage solutions, including all-flash arrays, scale-out file, object platforms, hyperconverged infrastructure, and software-defined storage. The Company’s server portfolio includes high-performance rack, blade, and tower servers. The Company’s servers are designed with the capability to run high value workloads across customers’ IT environments, including the training, fine-tuning, and operationalization of AI models. The ISG networking portfolio helps the Company’s 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, docking stations, and other electronics), as well as third-party software and peripherals. CSG also includes services offerings, including support and deployment, configuration, and extended warranty services.

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 revenue and segment operating income for management reporting purposes excludes operating results of other businesses, unallocated corporate transactions, the impact of purchase accounting, amortization of intangible assets, transaction-related expenses, stock-based compensation expense, and other corporate expenses, as applicable. The Company does not allocate assets to the above reportable segments for internal reporting purposes.

Pursuant to the Commercial Framework Agreement (the “CFA”) established between Dell Technologies and VMware in connection with the VMware Spin-off, Dell Technologies continues to act as a distributor of VMware’s standalone products and services and purchase such products and services for resale to end-user customers (“VMware Resale”). Dell Technologies also continues to integrate VMware’s products and services with Dell Technologies’ offerings and sell them to end users. The results of standalone VMware Resale transactions are reflected in other businesses. The results of integrated offering transactions are reflected within CSG or ISG, depending upon the nature of the underlying offering sold.


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	8,461	$	9,536	$	16,054	$	18,821
Client Solutions Group	12,942		15,490		24,925		31,077
Reportable segment net revenue	21,403		25,026		40,979		49,898
Other businesses (a)	1,528		1,399		2,871		2,638
Unallocated transactions (b)	3		—		6		5

Total consolidated net revenue	$	22,934	$	26,425	$	43,856	$	52,541

Consolidated operating income:
Infrastructure Solutions Group	$	1,049	$	1,046	$	1,789	$	2,128
Client Solutions Group	969		978		1,861		2,093
Reportable segment operating income	2,018		2,024		3,650		4,221
Other businesses (a)	(44)		(71)		(80)		(135)
Unallocated transactions (b)	3		(1)		5		1
Impact of purchase accounting (c)	(4)		(3)		(8)		(12)
Amortization of intangibles	(209)		(244)		(408)		(487)
Transaction-related expenses (d)	(3)		(3)		(6)		(8)
Stock-based compensation expense (e)	(223)		(236)		(448)		(468)
Other corporate expenses (f)	(373)		(196)		(471)		(292)
Total consolidated operating income	$	1,165	$	1,270	$	2,234	$	2,820

____________________

(a)Other businesses consists of (i) VMware Resale, (ii) Secureworks, and (iii) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.

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

(c)Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction that was completed in September 2016.

(d)Transaction-related expenses includes acquisition, integration, and divestiture related costs.

(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 severance, impairment charges, facility action, payroll taxes associated with stock-based compensation, and other costs.

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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	4,274	$	5,209	$	8,111	$	10,257
Storage	4,187		4,327		7,943		8,564
Total ISG net revenue	$	8,461	$	9,536	$	16,054	$	18,821
Client Solutions Group:
Commercial	$	10,554	$	12,141	$	20,416	$	24,112
Consumer	2,388		3,349		4,509		6,965
Total CSG net revenue	$	12,942	$	15,490	$	24,925	$	31,077

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CAPITALIZATION - Schedule of Stock by Class (Details) - shares shares in Millions	Aug. 04, 2023	Feb. 03, 2023
Class of Stock [Line Items]
Authorized (in shares)	8,800	8,800
Issued (in shares)	817	798
Outstanding (in shares)	724	716
Class A
Class of Stock [Line Items]
Authorized (in shares)	600	600
Issued (in shares)	379	379
Outstanding (in shares)	379	379
Class B
Class of Stock [Line Items]
Authorized (in shares)	200	200
Issued (in shares)	91	95
Outstanding (in shares)	91	95
Class C
Class of Stock [Line Items]
Authorized (in shares)	7,900	7,900
Issued (in shares)	347	324
Outstanding (in shares)	254	242
Class D
Class of Stock [Line Items]
Authorized (in shares)	100	100
Issued (in shares)	0	0
Outstanding (in shares)	0	0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional Amounts of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Foreign exchange contracts
Derivative [Line Items]
Notional amount	$ 13,679	$ 14,579
Foreign exchange contracts \| Designated as cash flow hedging instruments
Derivative [Line Items]
Notional amount	7,245	7,746
Foreign exchange contracts \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	6,434	6,833
Interest rate contracts
Derivative [Line Items]
Notional amount	6,395	8,214
Interest rate contracts \| Designated as cash flow hedging instruments
Derivative [Line Items]
Notional amount	0	1,000
Interest rate contracts \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	$ 6,395	$ 7,214

FAIR VALUE MEASUREMENTS - Carrying Value and Estimated Fair Value of Outstanding Debt (Details) - USD ($) $ in Billions	Aug. 04, 2023	Feb. 03, 2023
Carrying Value \| Senior Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	$ 16.0	$ 18.1
Carrying Value \| Legacy Notes and Debentures \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	0.9	0.9
Carrying Value \| DFS Debt \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	10.0	10.3
Fair Value \| Senior Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	15.8	18.2
Fair Value \| Legacy Notes and Debentures \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	1.0	1.0
Fair Value \| DFS Debt \| Unsecured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	$ 9.6	$ 9.9

CAPITALIZATION - Narrative (Details) $ / shares in Units, $ in Millions					3 Months Ended		6 Months Ended
	Jun. 16, 2023 $ / shares	Mar. 02, 2023 $ / shares	Jun. 07, 2022 $ / shares	Feb. 24, 2022 $ / shares	Aug. 04, 2023 USD ($) $ / shares shares	Jul. 29, 2022 USD ($) $ / shares	Aug. 04, 2023 USD ($) vote $ / shares shares	Jul. 29, 2022 USD ($) $ / shares shares	Feb. 03, 2023 $ / shares shares	Sep. 23, 2021 USD ($)
Class of Stock [Line Items]
Preferred stock, authorized (in shares)					1,000,000		1,000,000
Preferred stock, par value (in dollars per share) \| $ / shares					$ 0.01		$ 0.01
Preferred stock, shares issued (in shares)					0		0		0
Preferred stock, shares outstanding (in shares)					0		0		0
Common stock, par or value (in dollars per share) \| $ / shares					$ 0.01		$ 0.01		$ 0.01
Common stock conversion ratio					1		1
Dividend declared (in dollars per share) \| $ / shares	$ 0.37	$ 0.37	$ 0.33	$ 0.33	$ 0.37	$ 0.33	$ 0.74	$ 0.66
Common stock dividend rate increase		12.00%
Treasury stock repurchases \| $					$ 256	$ 608	$ 507	$ 2,090
Class A
Class of Stock [Line Items]
Number of voting interests per share \| vote							10
Class B
Class of Stock [Line Items]
Number of voting interests per share \| vote							10
Class C
Class of Stock [Line Items]
Number of voting interests per share \| vote							1
Stock repurchases, authorized amount \| $										$ 5,000
Shares repurchased (in shares)							11,000,000	42,000,000
Treasury stock repurchases \| $							$ 500	$ 2,100
Class C \| Class B Common Stock Into Class C Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued (in shares)					4,716,548
Class D
Class of Stock [Line Items]
Number of voting interests per share \| vote							1

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Warranty liability:
Warranty liability at beginning of period	$ 438	$ 468	$ 467	$ 480
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties	202	244	398	467
Service obligations honored	(201)	(249)	(426)	(484)
Warranty liability at end of period	$ 439	$ 463	$ 439	$ 463

DEFERRED REVENUE - Remaining Performance Obligation, Expected Timing (Details) $ in Billions	Aug. 04, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 39
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-08-05
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation percentage	58.00%
Deferred revenue recognition period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-08-05
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue recognition period

FINANCIAL SERVICES - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Aug. 04, 2023	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
New financing originations		$ 2,400	$ 2,300	$ 4,200	$ 4,400
Reclassified to current assets held for sale	$ 389
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				12 months
Fixed-term \| Minimum \| Business customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				2 years
Fixed-term \| Minimum \| Qualified small businesses, large commercial accounts, governmental organizations, educational entities, and certain individual consumer customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				3 years
Fixed-term \| Maximum \| Business customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				4 years
Fixed-term \| Maximum \| Qualified small businesses, large commercial accounts, governmental organizations, educational entities, and certain individual consumer customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)				5 years

FINANCIAL SERVICES - Future Maturities (Details) $ in Millions	Aug. 04, 2023 USD ($)
Operating Leases
Fiscal 2024 (remaining six months)	$ 623
Fiscal 2025	918
Fiscal 2026	544
Fiscal 2027	192
Fiscal 2028 and beyond	71
Total	$ 2,348

FINANCIAL SERVICES - Schedule of Financing Receivables Held by the Consolidated VIEs (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	$ 85,658	$ 89,611
Liabilities held by consolidated VIEs	88,335	92,636
Other current assets \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	282	274
Current assets held for sale \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	366	0
Short-term \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	3,256	3,702
Long-term \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	3,298	3,295
Property, plant, and equipment, net \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Assets held by consolidated VIEs	1,142	1,164
Short-term \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liabilities held by consolidated VIEs	4,556	4,761
Long-term \| Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Liabilities held by consolidated VIEs	$ 2,760	$ 2,685

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Aug. 04, 2023

Equity [Abstract]

Schedule of 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		Cash Flow Hedges		Pension and Other Postretirement Plans		Accumulated Other Comprehensive Income (Loss)

	(in millions)











Balances as of February 3, 2023	$	(747)	$	(222)	$	(32)	$	(1,001)
Other comprehensive income before reclassifications	25		59		1		85
Amounts reclassified from accumulated other comprehensive income (loss)	—		159		—		159
Total change for the period	25		218		1		244

Balances as of August 4, 2023	$	(722)	$	(4)	$	(31)	$	(757)

Schedule of 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 for the periods indicated:


	Three Months Ended		Six Months Ended
	August 4, 2023		July 29, 2022	August 4, 2023	July 29, 2022
	Cash Flow Hedges

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(63)			$	307	$	(151)	$	430
Cost of net revenue	(5)				(1)		(8)		(28)



Total reclassifications, net of tax	$	(68)			$	306	$	(159)	$	402

INVESTMENTS - Gains and losses on equity securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Marketable securities:
Unrealized gain	$ 1	$ 7	$ 1	$ 7
Unrealized loss	0	(1)	(23)	(19)
Net unrealized gain (loss)	1	6	(22)	(12)
Non-marketable securities:
Unrealized gain	0	51	9	72
Unrealized loss	(41)	(320)	(46)	(320)
Net unrealized loss	(41)	(269)	(37)	(248)
Net unrealized loss on equity and other securities	$ (40)	(263)	$ (59)	(260)
Impairments on equity and other securities		$ 310		$ 310

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

6 Months Ended

Aug. 04, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 instruments. For derivatives designated as fair value hedges, the Company assesses hedge effectiveness on qualifying instruments using the shortcut method whereby the hedges are considered perfectly effective at the onset of the hedge and over the life of the hedging relationship.

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 three and six months ended August 4, 2023 and July 29, 2022, 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 DFS operations 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 four 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 in order to match the floating rate nature of the banks’ funding pool. The Company also uses interest rate swaps to manage the cash flows related to interest payments on Eurobonds. The interest rate swaps economically convert the fixed rate on its bonds to a floating rate to match the underlying lease repayments profile. 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 European securitization program. 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 or floating British Pound or U.S. Dollar amount and receives a fixed or 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.

Periodically, the Company also uses interest rate swaps to modify the market risk exposures in connection with long-term debt. During Fiscal 2023, the Company entered into interest rate swaps designated as fair value hedges intended to hedge a portion of its interest rate exposure by converting the fixed interest rate of a certain tranche of debt to a floating interest rate based on the benchmark SOFR Overnight Index Swap rate. The gains and losses related to changes in the fair value of the interest rate swaps perfectly offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in the underlying benchmark interest rate. During the three months ended August 4, 2023, the Company repaid the hedged debt and terminated the associated interest rate swaps.

Derivative Instruments

The following table presents the notional amounts of outstanding derivative instruments as of the dates indicated:


	August 4, 2023		February 3, 2023

	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	7,245	$	7,746
Non-designated as hedging instruments	6,434		6,833
Total	$	13,679	$	14,579
Interest rate contracts:
Designated as fair value hedging instruments	$	—	$	1,000
Non-designated as hedging instruments	6,395		7,214
Total	$	6,395	$	8,214


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 August 4, 2023:
			Total net revenue	$	(63)
Foreign exchange contracts	$	49	Total cost of net revenue	(5)
Interest rate contracts	—		Interest and other, net	—
Total	$	49	Total	$	(68)

For the three months ended July 29, 2022:
			Total net revenue	$	307
Foreign exchange contracts	$	166	Total cost of net revenue	(1)
Interest rate contracts	—		Interest and other, net	—
Total	$	166	Total	$	306


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 six months ended August 4, 2023:
			Total net revenue	$	(151)
Foreign exchange contracts	$	59	Total cost of net revenue	(8)
Interest rate contracts	—		Interest and other, net	—
Total	$	59	Total	$	(159)

For the six months ended July 29, 2022:
			Total net revenue	$	430
Foreign exchange contracts	$	538	Total cost of net revenue	(28)
Interest rate contracts	—		Interest and other, net	—
Total	$	538	Total	$	402

The following table presents the effect of derivative instruments not designated as hedging instruments on the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022		Location of Gain (Loss) Recognized

	(in millions)
Foreign exchange contracts	$	(40)	$	(74)	$	17	$	(305)	Interest and other, net
Interest rate contracts	24		1		3		18		Interest and other, net

Total	$	(16)	$	(73)	$	20	$	(287)

The Company presents its 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:


	August 4, 2023
	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	$	114	$	—	$	5	$	—	$	119
Foreign exchange contracts in a liability position	(18)		—		(4)		—		(22)
Interest rate contracts in an asset position	—		—		—		—		—
Interest rate contracts in a liability position	—		—		—		—		—
Net asset (liability)	96		—		1		—		97
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	163		1		29		—		193
Foreign exchange contracts in a liability position	(149)		—		(68)		—		(217)
Interest rate contracts in an asset position	6		68		—		—		74
Interest rate contracts in a liability position	—		—		(21)		(17)		(38)
Net asset (liability)	20		69		(60)		(17)		12
Total derivatives at fair value	$	116	$	69	$	(59)	$	(17)	$	109

	February 3, 2023
	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	$	7	$	—	$	30	$	—	$	37
Foreign exchange contracts in a liability position	(21)		—		(142)		—		(163)
Interest rate contracts in an asset position	—		—		—		—		—
Interest rate contracts in a liability position	—		—		—		(6)		(6)
Net asset	(14)		—		(112)		(6)		(132)
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	282		1		368		—		651
Foreign exchange contracts in a liability position	(121)		—		(614)		(1)		(736)
Interest rate contracts in an asset position	14		133		—		—		147
Interest rate contracts in a liability position	—		—		—		(95)		(95)
Net asset (liability)	175		134		(246)		(96)		(33)
Total derivatives at fair value	$	161	$	134	$	(358)	$	(102)	$	(165)


	August 4, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	386	$	(201)	$	185	$	—	$	(43)	$	142
Financial liabilities	(277)		201		(76)		—		17		(59)
Total derivative instruments	$	109	$	—	$	109	$	—	$	(26)	$	83

	February 3, 2023
	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 of Assets/ (Liabilities) Recognized in the Statement of Financial Position
							Financial Instruments		Cash Collateral Received or Pledged

	(in millions)
Derivative instruments:
Financial assets	$	835	$	(540)	$	295	$	—	$	—	$	295
Financial liabilities	(1,000)		540		(460)		—		25		(435)
Total derivative instruments	$	(165)	$	—	$	(165)	$	—	$	25	$	(140)

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Aug. 04, 2023

Fair Value Disclosures [Abstract]

Schedule of 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:


	August 4, 2023								February 3, 2023
	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:

Money market funds	$	4,568	$	—	$	—	$	4,568	$	4,301	$	—	$	—	$	4,301






Marketable equity and other securities	5		—		—		5		33		—		—		33
Derivative instruments	—		185		—		185		—		295		—		295
Total assets	$	4,573	$	185	$	—	$	4,758	$	4,334	$	295	$	—	$	4,629
Liabilities:
Derivative instruments	$	—	$	76	$	—	$	76	$	—	$	460	$	—	$	460
Total liabilities	$	—	$	76	$	—	$	76	$	—	$	460	$	—	$	460

Schedule of carrying value and estimated fair value of outstanding debt


	August 4, 2023				February 3, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value

	(in billions)

Senior Notes	$	16.0	$	15.8	$	18.1	$	18.2
Legacy Notes and Debentures	$	0.9	$	1.0	$	0.9	$	1.0
DFS Debt	$	10.0	$	9.6	$	10.3	$	9.9

GOODWILL AND INTANGIBLE ASSETS - Pre-tax Amortization Expense (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2024 (remaining six months)	$ 408
Fiscal 2025	644
Fiscal 2026	484
Fiscal 2027	376
Fiscal 2028	220
Thereafter	843
Finite-Lived Intangible Assets, Net, Total	$ 2,975	$ 3,383

FINANCIAL SERVICES - Variable Interest Entities Narrative (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Financing receivables transferred via securitization through SPEs	$ 1.1	$ 1.2	$ 2.6	$ 2.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

INVESTMENTS - Fixed Income Debt Securities (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Unrealized Gain	$ 660	$ 651
Unrealized Loss	(146)	(100)
Carrying Value	1,243	1,265
Fixed income debt securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Cost	339	348
Unrealized Gain	55	65
Unrealized Loss	(85)	(95)
Carrying Value	$ 309	$ 318

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

FINANCIAL SERVICES - Customer Receivables Sales Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022
Receivables [Abstract]
Financing receivables sold	$ 187	$ 425

OVERVIEW AND BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Millions	Aug. 04, 2023	May 05, 2023	Feb. 03, 2023	Jul. 29, 2022	Apr. 29, 2022	Jan. 28, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)	$ (2,677)	$ (2,924)	$ (3,025)	$ (2,755)	$ (2,355)	$ (1,580)
Reclassified to current assets held for sale	389
Non-Controlling Interests
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)	$ 95	$ 99	$ 97	$ 105	$ 107	$ 105
SecureWorks
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Outstanding equity interest held (as a percent)	81.20%		82.60%
SecureWorks \| Non-Controlling Interests
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)	$ 95		$ 97

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

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Reference 90: http://www.xbrl.org/2003/role/disclosureRef
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-Section 65
-Paragraph 2
-Subparagraph (a)
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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

+ Details

DEFERRED REVENUE

6 Months Ended

Aug. 04, 2023

Revenue from Contract with Customer [Abstract]

DEFERRED REVENUE

Deferred revenue consists of support and deployment services, software maintenance, training, Software-as-a-Service, and undelivered hardware and professional services, consisting of installations and consulting engagements. Deferred revenue is recorded when the Company has invoiced or payments have been received for undelivered products or services where transfer of control has not occurred. Revenue is 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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	29,695	$	27,403	$	30,286	$	27,573
Revenue deferrals	6,025		5,572		10,744		10,547
Revenue recognized	(5,408)		(4,950)		(10,718)		(9,930)
Other (a)	—		—		—		(165)
Deferred revenue at end of period	$	30,312	$	28,025	$	30,312	$	28,025
Short-term deferred revenue	$	16,174	$	14,724	$	16,174	$	14,724
Long-term deferred revenue	$	14,138	$	13,301	$	14,138	$	13,301

____________________

(a) For the six months ended July 29, 2022, Other represents the reclassification of deferred revenue to accrued and other liabilities.

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 value of the transaction price allocated to remaining performance obligations as of August 4, 2023 was approximately $39 billion. The Company expects to recognize approximately 58% of remaining performance obligations as revenue in the next twelve months, and the remainder thereafter.

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.

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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 9
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Aug. 04, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

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


	Infrastructure Solutions Group		Client Solutions Group		Other Businesses		Total

	(in millions)

Balances as of February 3, 2023	$	15,017	$	4,232	$	427	$	19,676

Impact of foreign currency translation and other	(36)		—		—		(36)



Balances as of August 4, 2023	$	14,981	$	4,232	$	427	$	19,640

Schedule of definite-lived intangible assets

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


	August 4, 2023						February 3, 2023
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,956	$	(14,703)	$	2,253	$	16,956	$	(14,474)	$	2,482
Developed technology	9,466		(8,817)		649		9,466		(8,660)		806
Trade names	875		(802)		73		875		(780)		95

Definite-lived intangible assets	27,297		(24,322)		2,975		27,297		(23,914)		3,383
Indefinite-lived trade names	3,085		—		3,085		3,085		—		3,085
Total intangible assets	$	30,382	$	(24,322)	$	6,060	$	30,382	$	(23,914)	$	6,468

Schedule of indefinite-lived intangible assets

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


	August 4, 2023						February 3, 2023
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,956	$	(14,703)	$	2,253	$	16,956	$	(14,474)	$	2,482
Developed technology	9,466		(8,817)		649		9,466		(8,660)		806
Trade names	875		(802)		73		875		(780)		95

Definite-lived intangible assets	27,297		(24,322)		2,975		27,297		(23,914)		3,383
Indefinite-lived trade names	3,085		—		3,085		3,085		—		3,085
Total intangible assets	$	30,382	$	(24,322)	$	6,060	$	30,382	$	(23,914)	$	6,468

Schedule of 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:


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	408
Fiscal 2025	644
Fiscal 2026	484
Fiscal 2027	376
Fiscal 2028	220
Thereafter	843
Total	$	2,975

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

6 Months Ended

Aug. 04, 2023

Condensed Financial Information Disclosure [Abstract]

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

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


	August 4, 2023		February 3, 2023

	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	8,364	$	8,607
Restricted cash - other current assets (a)	281		272
Restricted cash - other non-current assets (a)	5		15
Total cash, cash equivalents, and restricted cash	$	8,650	$	8,894
Inventories:
Production materials	$	2,197	$	3,225
Work-in-process	604		708
Finished goods	783		843
Total inventories	$	3,584	$	4,776


Deferred Costs:
Total deferred costs, current (b)	$	5,837	$	5,459
Property, plant, and equipment, net:
Computer equipment	$	7,385	$	6,899
Land and buildings	2,936		3,059
Machinery and other equipment	3,227		3,134
Total property, plant, and equipment	13,548		13,092
Accumulated depreciation and amortization	(7,296)		(6,883)
Total property, plant, and equipment, net	$	6,252	$	6,209

____________________

(a) Restricted cash includes cash required to be held in escrow pursuant to DFS securitization arrangements.

(b) Deferred costs are included in other current assets in the Condensed Consolidated Statements of Financial Position. Amounts classified as long-term deferred costs are included in other non-current assets and are not disclosed above.

Warranty Liability

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	438	$	468	$	467	$	480
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a)	202		244		398		467
Service obligations honored	(201)		(249)		(426)		(484)
Warranty liability at end of period	$	439	$	463	$	439	$	463

____________________

(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 those made for new warranty obligations.

Severance Charges

The Company incurs costs related to employee severance and records a liability for these costs when it is probable that employees will be entitled to termination benefits and the amounts can be reasonably estimated. The liability related to these actions is included in accrued and other current liabilities in the Condensed Consolidated Statements of Financial Position.

The following table presents the activity related to the Company’s severance liability for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Severance liability:
Severance liability at beginning of period	$	162	$	63	$	408	$	74
Severance charges	364		46		412		63
Cash paid and other	(69)		(21)		(363)		(49)
Severance liability at end of period	$	457	$	88	$	457	$	88

The following table presents severance charges as included in the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Severance charges:
Cost of net revenue	$	27	$	(2)	$	48	$	1
Selling, general, and administrative	324		46		350		57
Research and development	13		2		14		5
Total severance charges	$	364	$	46	$	412	$	63

Supply Chain Finance Program

The Company maintains a Supply Chain Finance Program (the “SCF Program”), which enables eligible suppliers of the Company, at the supplier's sole discretion, to sell receivables due from the Company to a third-party financial institution. The Company has no involvement in establishing the terms or conditions of the arrangement between its suppliers and the financial institution and no economic interest in a supplier's decision to sell a receivable. Suppliers may elect to sell varying amounts of their outstanding receivables as part of the SCF Program. The Company does not provide secured legal assets or other forms of guarantees under the arrangement.

The SCF Program does not impact the Company's liquidity as payments for participating supplier invoices are remitted by the Company to the financial institution on the original invoice due date. Further, the Company negotiates payment terms with suppliers regardless of their decision to participate in the SCF Program. Payment terms with such suppliers vary and do not exceed 120 days.

Any amounts due to the financial institution for suppliers participating in the SCF Program are recorded within Accounts Payable on the Company's Condensed Consolidated Statements of Financial Position and associated payments are included in cash flows from operating activities on the Condensed Consolidated Statements of Cash Flows.

As of August 4, 2023 and February 3, 2023, the Company had $1.1 billion and $1.0 billion, respectively, included within Accounts Payable representing invoices due to suppliers confirmed as valid under the SCF Program.

Interest and other, net

The following table presents information regarding interest and other, net for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Interest and other, net:
Investment income, primarily interest	$	66	$	16	$	125	$	31
Loss on investments, net	(29)		(255)		(44)		(241)
Interest expense	(352)		(298)		(757)		(563)
Foreign exchange	(65)		(66)		(97)		(155)



Other	(71)		(32)		(42)		(44)
Total interest and other, net	$	(451)	$	(635)	$	(815)	$	(972)

FINANCIAL SERVICES

6 Months Ended

Aug. 04, 2023

Receivables [Abstract]

FINANCIAL SERVICES

The Company offers or arranges various financing options and alternative payment structures for its customers globally. Alternative payment structures consist of various flexible consumption models, including utility, subscription, and as-a-Service models.

Financing options are offered to our customers primarily through Dell Financial Services and its affiliates (“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 for the purchase of third-party technology products that complement the Dell Technologies portfolio of products and services. New financing originations were $2.4 billion and $2.3 billion for the three months ended August 4, 2023 and July 29, 2022, respectively, and $4.2 billion and $4.4 billion for the six months ended August 4, 2023 and July 29, 2022, respectively.

The Company’s lease and loan arrangements with customers are aggregated primarily 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.

As described in Note 1 to the Notes to the Condensed Consolidated Financial Statements, on July 12, 2023, the Company entered into a definitive agreement with Comenity Capital Bank, a subsidiary of Bread Financial Holdings, Inc., to establish a new U.S. DPA program under which transactions will be originated, owned, serviced, and collected by Bread. Under the definitive agreement, the Company will also sell its U.S. consumer revolving customer receivables portfolio. Upon the completion of the sale, such receivables will be serviced by Bread and the Company will have no continuing involvement. The transaction is expected to close in the third quarter of Fiscal 2024, subject to customary closing conditions.

In accordance with applicable accounting guidance, the Company concluded that the U.S. consumer revolving customer financing receivables have met the criteria to be classified as held for sale as of August 4, 2023. Accordingly, the Company reclassified $389 million, net of allowance, to current assets held for sale on the Condensed Consolidated Statements of Financial Position as of August 4, 2023.

Fixed-term leases and loans — The Company enters into financing arrangements with customers who seek lease financing for equipment. DFS leases are generally classified as sales-type leases or operating leases. 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.

Flexible consumption models, as defined above, enable the Company to offer its customers the option to pay over time to provide them with financial flexibility to meet their changing technological requirements. Such models may result in identification of embedded lease arrangements that lead to the recognition of operating or sales-type leases.

Financing Receivables

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


	August 4, 2023						February 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Financing receivables, net:
Customer receivables, gross (a) (b)	$	180	$	10,439	$	10,619	$	685	$	10,293	$	10,978
Allowances for losses	(9)		(140)		(149)		(88)		(113)		(201)
Customer receivables, net	171		10,299		10,470		597		10,180		10,777
Residual interest	—		150		150		—		142		142
Financing receivables, net	$	171	$	10,449	$	10,620	$	597	$	10,322	$	10,919
Short-term	$	171	$	4,636	$	4,807	$	597	$	4,684	$	5,281
Long-term	$	—	$	5,813	$	5,813	$	—	$	5,638	$	5,638

____________________

(a) Customer receivables, gross include amounts due from customers under revolving loans, fixed-term loans, fixed-term leases, and accrued interest.

(b) The decrease in revolving customer financing receivables is attributable to the reclassification of the U.S. consumer revolving portfolio to current assets held for sale, as described above.

The following table presents the changes in allowance for financing receivable losses for the periods indicated:


	Three Months Ended
	August 4, 2023						July 29, 2022
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	84	$	135	$	219	$	94	$	87	$	181

Charge-offs, net of recoveries	(16)		(1)		(17)		(12)		(2)		(14)
Provision charged to income statement	15		6		21		9		7		16
Held for sale adjustment	(74)		—		(74)		—		—		—
Balances at end of period	$	9	$	140	$	149	$	91	$	92	$	183


	Six Months Ended
	August 4, 2023						July 29, 2022
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	88	$	113	$	201	$	102	$	87	$	189

Charge-offs, net of recoveries	(33)		(2)		(35)		(25)		(4)		(29)
Provision charged to income statement	28		29		57		14		9		23
Held for sale adjustment	(74)		—		(74)		—		—		—
Balances at end of period	$	9	$	140	$	149	$	91	$	92	$	183

The Company recognizes an allowance for financing receivable losses, including both the lease receivable and unguaranteed residual, in an amount equal to the expected losses net of recoveries. The allowance for financing receivable losses on the lease receivable is determined based on various factors, including lifetime expected losses determined using macroeconomic forecast assumptions and management judgments applicable to and through the expected life of the portfolios as well as past due receivables, receivable type, and customer risk profile. The Company continues to monitor broader economic indicators and their potential impact on future credit loss performance.

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:


	August 4, 2023								February 3, 2023
	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	$	7	$	—	$	—	$	7	$	457	$	34	$	17	$	508
Revolving — DBC	151		18		4		173		154		19		4		177
Fixed-term — Consumer and Commercial	9,412		969		58		10,439		9,309		927		57		10,293
Total customer receivables, gross	$	9,570	$	987	$	62	$	10,619	$	9,920	$	980	$	78	$	10,978

Aging is likely to fluctuate as a result of the variability in volume of large transactions entered into over the period, and the administrative processes that accompany those transactions. Aging is also impacted by the timing of the Company’s fiscal period end date relative to calendar month-end customer payment due dates. As a result of these factors, fluctuations in aging from period to period do not necessarily indicate a material change in the collectibility of the portfolio.

Fixed-term consumer and commercial customer receivables are placed on non-accrual status if principal or interest is past due and considered delinquent, or if there is concern about the collectibility of a specific customer receivable. The receivables identified as doubtful for collectibility may be classified as current for aging purposes. Aged revolving portfolio customer receivables identified as delinquent are charged off.

Credit Quality

The following tables present customer receivables, gross, including accrued interest, by credit quality indicator, segregated by class, as of the dates indicated:


	August 4, 2023
	Fixed-term — Consumer and Commercial
	Fiscal Year of Origination
	2024		2023		2022		2021		2020		Years Prior		Revolving — DPA		Revolving — DBC		Total

	(in millions)
Higher	$	1,997	$	2,453	$	1,267	$	617	$	206	$	10	$	1	$	45	$	6,596
Mid	611		1,205		480		214		63		5		3		50		2,631
Lower	288		615		266		99		40		3		3		78		1,392
Total	$	2,896	$	4,273	$	2,013	$	930	$	309	$	18	$	7	$	173	$	10,619


	February 3, 2023
	Fixed-term — Consumer and Commercial
	Fiscal Year of Origination
	2023		2022		2021		2020		2019		Years Prior		Revolving — DPA		Revolving — DBC		Total

	(in millions)
Higher	$	3,210	$	1,805	$	914	$	343	$	37	$	1	$	123	$	44	$	6,477
Mid	1,242		631		362		119		17		1		136		54		2,562
Lower	1,017		364		157		65		7		1		249		79		1,939
Total	$	5,469	$	2,800	$	1,433	$	527	$	61	$	3	$	508	$	177	$	10,978

The categories shown in the tables above 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.

For DPA revolving receivables, 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 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 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

The following table presents 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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Net revenue — products	$	292	$	219	$	539	$	439
Cost of net revenue — products	192		164		388		368
Gross margin — products	$	100	$	55	$	151	$	71


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	1,445
Fiscal 2025	2,063
Fiscal 2026	1,540
Fiscal 2027	822
Fiscal 2028 and beyond	297
Total undiscounted cash flows	6,167
Fixed-term loans	5,163
Revolving loans	180
Less: Unearned income	(891)
Total customer receivables, gross	$	10,619

Operating Leases

The Company’s operating leases primarily consist of DFS captive fixed-term leases and contractually committed embedded leases identified within flexible consumption arrangements.

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


	August 4, 2023		February 3, 2023

	(in millions)
Equipment under operating lease, gross	$	3,833	$	3,725
Less: Accumulated depreciation	(1,687)		(1,517)
Equipment under operating lease, net	$	2,146	$	2,208

The following table presents operating lease income related to lease payments and depreciation expense for the Company’s operating lease portfolio for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Income related to lease payments	$	330	$	253	$	651	$	485
Depreciation expense	$	236	$	194	$	469	$	359

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


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	623
Fiscal 2025	918
Fiscal 2026	544
Fiscal 2027	192
Fiscal 2028 and beyond	71
Total	$	2,348

DFS Debt

The Company maintains programs that facilitate the funding of leases, loans, and other alternative payment structures in the capital markets. The majority of DFS debt is non-recourse to Dell Technologies and represents borrowings under securitization programs and structured financing programs, for which the Company’s risk of loss is limited to transferred loan and lease payments and associated equipment.


	August 4, 2023		February 3, 2023

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing and securitization facilities	$	3,067	$	3,987
Fixed-term securitization offerings	3,471		2,679
Other	58		76
Total DFS U.S. debt	6,596		6,742
DFS international debt:
Securitization facility	793		790
Other borrowings	762		871
Note payable	250		250
Dell Bank senior unsecured eurobonds	1,642		1,637
Total DFS international debt	3,447		3,548
Total DFS debt	$	10,043	$	10,290
Total short-term DFS debt	$	5,801	$	5,400
Total long-term DFS debt	$	4,242	$	4,890

DFS U.S. Debt

Asset-Based Financing and Securitization Facilities — The Company maintains separate asset-based financing facilities and a securitization facility in the United States, which are revolving facilities for fixed-term leases and loans and for revolving loans, respectively. 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 August 4, 2023, the total debt capacity related to the U.S. asset-based financing and securitization facilities was $5.6 billion. The Company enters into interest swap agreements to effectively convert a portion of this 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 two U.S. asset-based financing facilities for fixed-term leases and loans are effective through July 7, 2025 and June 21, 2024, respectively. The Company’s U.S. securitization facility for revolving loans is effective through June 25, 2025. The Company intends to pay down the U.S. securitization facility for revolving loans prior to the close of the U.S. consumer revolving customer receivables portfolio sale described above.

The asset-based financing and securitization facilities contain standard structural features related to the performance of the funded 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 August 4, 2023, 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 lease and loan payments and associated equipment, which are held by Special Purpose Entities (“SPEs”), as discussed below. The interest rate on these securities is fixed and ranges from 0.43% to 6.80% per annum as of August 4, 2023, and the duration of these securities is based on the terms of the underlying lease and loan payment streams.

DFS International Debt

Securitization Facility — The Company maintains a securitization facility in Europe for fixed-term leases and loans. The debt under this facility has a variable interest rate, and the duration of the debt is based on the terms of the underlying loan and lease payment streams. This facility is effective through December 23, 2024 and had a total debt capacity of $876 million as of August 4, 2023.

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 August 4, 2023, 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, New Zealand, and the Middle East. The debt under these programs has a variable interest rate, and the duration of the debt is based on the terms of the underlying loan and lease payment streams. The Canadian facility, which is collateralized solely by Canadian loan and lease payments and associated equipment, had a total debt capacity of $337 million as of August 4, 2023 and is effective through January 16, 2025. The European facility, which is collateralized solely by European loan and lease payments and associated equipment, had a total debt capacity of $657 million as of August 4, 2023 and is effective through June 14, 2025. 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 $295 million as of August 4, 2023 and is effective through April 20, 2025. The Middle East facility, which is collateralized solely by Middle East loan and lease payments and associated equipment, had a total debt capacity of $150 million as of August 4, 2023 and is effective through March 24, 2025.

Note Payable — On May 25, 2022, the Company entered into an unsecured credit agreement to fund receivables in Mexico. As of August 4, 2023, the aggregate principal amount of the note payable was $250 million. The note bears interest at an annual rate of 4.24% and will mature on May 31, 2024.

Dell Bank Senior Unsecured Eurobonds — On June 24, 2020, Dell Bank issued 500 million Euro of 1.625% senior unsecured four year eurobonds due June 2024. On October 27, 2021, Dell Bank issued 500 million Euro of 0.5% senior unsecured five year eurobonds due October 2026. On October 18, 2022, Dell Bank issued 500 million Euro of 4.5% senior unsecured five year eurobonds due October 2027. The issuances of the senior unsecured eurobonds support the expansion of the financing operations in Europe.

Variable Interest Entities

In connection with the asset-based financing facilities, securitization facilities, and fixed-term securitization offerings discussed above, the Company transfers certain U.S. and European lease and loan payments and associated equipment to SPEs that meet the definition of a VIE and are consolidated, along with the associated debt described above, into the Condensed Consolidated Financial Statements as the Company is the primary beneficiary of the 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.

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. DFS debt outstanding held by the consolidated VIEs is collateralized by the lease and loan payments and associated equipment. 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 securitization in the form of over-collateralization.

The following table presents the assets and liabilities held by the consolidated VIEs as of the dates indicated, which are included in the Condensed Consolidated Statements of Financial Position:


	August 4, 2023		February 3, 2023

	(in millions)
Assets held by consolidated VIEs
Other current assets	$	282	$	274
Current assets held for sale	$	366	$	—
Financing receivables, net of allowance
Short-term	$	3,256	$	3,702
Long-term	$	3,298	$	3,295
Property, plant, and equipment, net	$	1,142	$	1,164
Liabilities held by consolidated VIEs
Debt, net of unamortized debt issuance costs
Short-term	$	4,556	$	4,761
Long-term	$	2,760	$	2,685

Lease and loan payments and associated equipment transferred via securitization through SPEs were $1.1 billion and $1.2 billion for the three months ended August 4, 2023 and July 29, 2022, respectively, and $2.6 billion and $2.9 billion for the six months ended August 4, 2023 and July 29, 2022, respectively.

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, without recourse. The amount of customer receivables sold for this purpose was $187 million and $425 million for the six months ended August 4, 2023 and July 29, 2022, respectively. The Company’s continuing involvement in these customer receivables is primarily limited to servicing arrangements.

DEBT - Aggregate future maturities (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Total maturities, principal amount
2024 (remaining six months)	$ 2,927
2025	5,463
2026	2,538
2027	6,031
2028	1,095
Thereafter	9,334
Total DFS debt	27,388	$ 29,867
Associated carrying value adjustments
2024 (remaining six months)	(2)
2025	(7)
2026	(7)
2027	(36)
2028	(8)
Thereafter	(190)
Total	(250)
Total maturities, carrying value amount
2024 (remaining six months)	2,925
2025	5,456
2026	2,531
2027	5,995
2028	1,087
Thereafter	9,144
Total debt, carrying value	27,138	$ 29,588
Senior Notes
Total maturities, principal amount
2024 (remaining six months)	0
2025	1,000
2026	1,000
2027	5,250
2028	500
Thereafter	8,381
Total DFS debt	16,131
Legacy Notes and Debentures
Total maturities, principal amount
2024 (remaining six months)	0
2025	0
2026	0
2027	0
2028	0
Thereafter	952
Total DFS debt	952
DFS Debt
Total maturities, principal amount
2024 (remaining six months)	2,827
2025	4,341
2026	1,511
2027	773
2028	590
Thereafter	1
Total DFS debt	10,043
Other
Total maturities, principal amount
2024 (remaining six months)	100
2025	122
2026	27
2027	8
2028	5
Thereafter	0
Total DFS debt	$ 262

LEASES (Tables)

6 Months Ended

Aug. 04, 2023

Leases [Abstract]

Schedule of components of lease expense and supplemental information

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


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Operating lease costs	$	63	$	68	$	142	$	140
Variable costs	19		23		43		48
Total lease costs	$	82	$	91	$	185	$	188

For both the six months ended August 4, 2023 and July 29, 2022, 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 dates indicated:


	Classification	August 4, 2023			February 3, 2023

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	716		$	725

Current operating lease liabilities	Accrued and other current liabilities	$	255		$	260
Non-current operating lease liabilities	Other non-current liabilities	600			630
Total operating lease liabilities		$	855		$	890

Weighted-average remaining lease term (in years)		4.44			4.95
Weighted-average discount rate		4.12		%	3.48		%

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


	Six Months Ended
	August 4, 2023		July 29, 2022

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	153	$	156

Right-of-use assets obtained in exchange for new operating lease liabilities	$	131	$	103

Schedule of maturity of operating lease liabilities


	August 4, 2023
	(in millions)
Fiscal 2024 (remaining six months)	$	131
Fiscal 2025	232
Fiscal 2026	182
Fiscal 2027	145
Fiscal 2028	104
Thereafter	140
Total lease payments	934
Less: Imputed interest	(79)
Total	$	855
Current operating lease liabilities	$	255
Non-current operating lease liabilities	$	600

FINANCIAL SERVICES - Operating Lease Income and Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jul. 29, 2022	Aug. 04, 2023	Jul. 29, 2022
Receivables [Abstract]
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total net revenue	Total net revenue	Total net revenue	Total net revenue
Income related to lease payments	$ 330	$ 253	$ 651	$ 485
Depreciation expense	$ 236	$ 194	$ 469	$ 359

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Narrative (Details) - Supply Chain Finance Program - Third-Party Financial Institution - USD ($) $ in Billions	6 Months Ended
	Aug. 04, 2023	Feb. 03, 2023
Restructuring Cost and Reserve [Line Items]
Payment term	120 days
Accounts payable	$ 1.1	$ 1.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION (Tables)

6 Months Ended

Aug. 04, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of information on selected assets

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


	August 4, 2023		February 3, 2023

	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	8,364	$	8,607
Restricted cash - other current assets (a)	281		272
Restricted cash - other non-current assets (a)	5		15
Total cash, cash equivalents, and restricted cash	$	8,650	$	8,894
Inventories:
Production materials	$	2,197	$	3,225
Work-in-process	604		708
Finished goods	783		843
Total inventories	$	3,584	$	4,776


Deferred Costs:
Total deferred costs, current (b)	$	5,837	$	5,459
Property, plant, and equipment, net:
Computer equipment	$	7,385	$	6,899
Land and buildings	2,936		3,059
Machinery and other equipment	3,227		3,134
Total property, plant, and equipment	13,548		13,092
Accumulated depreciation and amortization	(7,296)		(6,883)
Total property, plant, and equipment, net	$	6,252	$	6,209

____________________

(a) Restricted cash includes cash required to be held in escrow pursuant to DFS securitization arrangements.

Schedule of 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				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	438	$	468	$	467	$	480
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a)	202		244		398		467
Service obligations honored	(201)		(249)		(426)		(484)
Warranty liability at end of period	$	439	$	463	$	439	$	463

____________________(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 those made for new warranty obligations.

Schedule of activity related to severance liability

The following table presents the activity related to the Company’s severance liability for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Severance liability:
Severance liability at beginning of period	$	162	$	63	$	408	$	74
Severance charges	364		46		412		63
Cash paid and other	(69)		(21)		(363)		(49)
Severance liability at end of period	$	457	$	88	$	457	$	88

Schedule of severance charges

The following table presents severance charges as included in the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Severance charges:
Cost of net revenue	$	27	$	(2)	$	48	$	1
Selling, general, and administrative	324		46		350		57
Research and development	13		2		14		5
Total severance charges	$	364	$	46	$	412	$	63

Schedule of interest and other, net

The following table presents information regarding interest and other, net for the periods indicated:


	Three Months Ended				Six Months Ended
	August 4, 2023		July 29, 2022		August 4, 2023		July 29, 2022

	(in millions)
Interest and other, net:
Investment income, primarily interest	$	66	$	16	$	125	$	31
Loss on investments, net	(29)		(255)		(44)		(241)
Interest expense	(352)		(298)		(757)		(563)
Foreign exchange	(65)		(66)		(97)		(155)



Other	(71)		(32)		(42)		(44)
Total interest and other, net	$	(451)	$	(635)	$	(815)	$	(972)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Gross amounts of derivative instruments, amounts offset due to master netting agreements (Details) - USD ($) $ in Millions	Aug. 04, 2023	Feb. 03, 2023
Financial assets
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets, Other non-current assets	Other current assets, Other non-current assets
Gross Amounts of Recognized Assets/ (Liabilities)	$ 386	$ 835
Gross Amounts Offset in the Statement of Financial Position	(201)	(540)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	185	295
Financial Instruments	0	0
Cash Collateral Received or Pledged	(43)	0
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	$ 142	$ 295
Financial liabilities
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued and other, Other non-current liabilities	Accrued and other, Other non-current liabilities
Gross Amounts of Recognized Assets/ (Liabilities)	$ (277)	$ (1,000)
Gross Amounts Offset in the Statement of Financial Position	201	540
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(76)	(460)
Financial Instruments	0	0
Cash Collateral Received or Pledged	17	25
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	(59)	(435)
Total derivative instruments
Gross Amounts of Recognized Assets/ (Liabilities)	109	(165)
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	109	(165)
Financial Instruments	0	0
Cash Collateral Received or Pledged	(26)	25
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	$ 83	$ (140)