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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
AOCI [Roll Forward]
Beginning balance	$ (2,797)	$ (2,677)	$ (2,309)	$ (3,025)
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively	44	(66)	(20)	178
Ending balance	(2,190)	(2,570)	(2,190)	(2,570)
Foreign Currency Translation Adjustments
AOCI [Roll Forward]
Beginning balance			(755)
Other comprehensive income (loss) before reclassifications			(95)
Amounts reclassified from accumulated other comprehensive income (loss)			0
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively			(95)
Ending balance	(850)		(850)
Cash Flow Hedges
AOCI [Roll Forward]
Beginning balance			(30)
Other comprehensive income (loss) before reclassifications			58
Amounts reclassified from accumulated other comprehensive income (loss)			17
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively			75
Ending balance	45		45
Pension and Other Postretirement Plans
AOCI [Roll Forward]
Beginning balance			(15)
Other comprehensive income (loss) before reclassifications			1
Amounts reclassified from accumulated other comprehensive income (loss)			(1)
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively			0
Ending balance	(15)		(15)
Accumulated Other Comprehensive Income (Loss)
AOCI [Roll Forward]
Beginning balance	(864)	(757)	(800)	(1,001)
Other comprehensive income (loss) before reclassifications			(36)
Amounts reclassified from accumulated other comprehensive income (loss)			16
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively			(20)
Ending balance	$ (820)	$ (823)	$ (820)	$ (823)

- Definition

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

+ References + Details

- Definition

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

+ References

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+ Details

- Definition

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

+ References + Details

- Definition

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

+ References

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+ Details

FINANCIAL SERVICES - Schedule of Components of Financing Receivables Segregated by Portfolio Segment (Details) - USD ($) $ in Millions	Nov. 01, 2024	Aug. 02, 2024	Feb. 02, 2024	Nov. 03, 2023	Aug. 04, 2023	Feb. 03, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	$ 10,825		$ 10,533
Financing receivables, net	10,850		10,520
Short-term	5,001		4,643
Long-term	5,849		5,877
Customer Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	10,825		10,533
Allowances for losses	(144)	$ (166)	(170)	$ (153)	$ (149)	$ (201)
Financing receivables, net	10,681		10,363
Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	169		157
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	119		164
Short-term	119		164
Long-term	0		0
Revolving \| Customer Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	126		173
Allowances for losses	(7)	(8)	(9)	(9)	(9)	(88)
Financing receivables, net	119		164
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	10,731		10,356
Short-term	4,882		4,479
Long-term	5,849		5,877
Fixed-term \| Customer Financing Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer receivables, gross	10,699		10,360
Allowances for losses	(137)	$ (158)	(161)	$ (144)	$ (140)	$ (113)
Financing receivables, net	10,562		10,199
Fixed-term \| Residual interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivables, net	$ 169		$ 157

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Nov. 01, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS There were no known events occurring after November 1, 2024, and up until the date of issuance of this report that would materially affect the information presented herein.

FINANCIAL SERVICES - Schedule of Assets and Liabilities Held by the Consolidated VIEs (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current assets	$ 9,306	$ 10,973
Short-term	5,001	4,643
Long-term	5,849	5,877
Property, plant, and equipment, net	6,327	6,432
Short-term debt	5,612	6,982
Long-term debt	19,410	19,012
Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current assets	123	136
Short-term	3,354	3,314
Long-term	2,989	2,747
Property, plant, and equipment, net	1,022	1,081
Short-term debt	4,888	4,450
Long-term debt	$ 1,838	$ 2,184

FINANCIAL SERVICES - Schedule of Aging of Customer's Financing Receivables (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	$ 10,825	$ 10,533
Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,825	10,533
Revolving \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	126	173
Fixed-term \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,699	10,360
Current \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,160	9,496
Current \| Revolving \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	107	151
Current \| Fixed-term \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	10,053	9,345
Past Due 1 — 90 Days \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	503	906
Past Due 1 — 90 Days \| Revolving \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	15	17
Past Due 1 — 90 Days \| Fixed-term \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	488	889
Past Due >90 Days \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	162	131
Past Due >90 Days \| Revolving \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	4	5
Past Due >90 Days \| Fixed-term \| Customer Financing Receivables
Financing Receivable, Past Due [Line Items]
Total customer receivables, gross	$ 158	$ 126

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
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-Number 229
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-Publisher SEC

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+ Details

FINANCIAL SERVICES - Schedule of Future Payments to be Received in Operating Lease Contracts (Details) $ in Millions	Nov. 01, 2024 USD ($)
Operating Leases
Fiscal 2025 (remaining three months)	$ 347
Fiscal 2026	1,079
Fiscal 2027	665
Fiscal 2028	316
Fiscal 2029 and beyond	121
Total	$ 2,528

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 1,132	$ 1,006	$ 2,938	$ 2,051

- 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

DEBT - Narrative (Details) - USD ($)	9 Months Ended
DEBT - Narrative (Details) - USD ($)	Nov. 01, 2024	Oct. 08, 2024	Mar. 18, 2024	Jan. 24, 2023	Dec. 13, 2021	Apr. 09, 2020	Mar. 20, 2019	Jun. 22, 2016	Jun. 01, 2016
2021 Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 6,000,000,000
Basis spread on variable rate	1.00%
Outstanding borrowings under credit facility	$ 0
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
Commercial Paper Program \| Commercial Paper
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000,000
Debt instrument, term	397 days
Outstanding borrowing	$ 0
Unsecured Debt \| Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,500,000,000	$ 1,000,000,000.0	$ 2,000,000,000.0	$ 2,300,000,000	$ 2,300,000,000	$ 4,500,000,000	$ 3,300,000,000	$ 20,000,000,000.0
Unsecured Debt \| Senior Notes \| Minimum
Debt Instrument [Line Items]
Interest rate	3.38%
Unsecured Debt \| Senior Notes \| Maximum
Debt Instrument [Line Items]
Interest rate	8.35%
Unsecured Debt \| 5.40% Due 2034 Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 1,000,000,000
Interest rate	5.40%
Unsecured Debt \| 6.02% Due 2026 Notes
Debt Instrument [Line Items]
Interest rate	6.02%
Unsecured Debt \| 4.00% Due July, 2024
Debt Instrument [Line Items]
Interest rate	4.00%
Repayment of principal amount	$ 1,000,000,000
Unsecured Debt \| 4.35% Due February, 2030
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 700,000,000
Interest rate	4.35%
Unsecured Debt \| 4.85% Due February, 2035
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 800,000,000
Interest rate	4.85%
Unsecured Debt \| 5.85 % Due July, 2025
Debt Instrument [Line Items]
Interest rate	5.85%
Unsecured Debt \| Legacy Notes \| Minimum
Debt Instrument [Line Items]
Interest rate	5.40%
Unsecured Debt \| Legacy Notes \| Maximum
Debt Instrument [Line Items]
Interest rate	7.10%

OVERVIEW AND BASIS OF PRESENTATION - Schedule of Financial Results from Operations (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Current assets:
Cash and cash equivalents	$ 53	$ 0
Total current assets	662	0
Current liabilities:
Total current liabilities	211	$ 0
Held-for-sale \| SecureWorks
Current assets:
Cash and cash equivalents	53
Accounts receivable, net	47
Other current assets	15
Total current assets	115
Noncurrent assets
Goodwill	427
Intangible assets, net	63
Other non-current assets	57
Total assets	662
Current liabilities:
Accrued and other	58
Short-term deferred revenue	125
Total current liabilities	183
Noncurrent liabilities
Other non-current liabilities	28
Total liabilities	$ 211

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024								February 2, 2024
	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	$	2,011	$	—	$	—	$	2,011	$	3,170	$	—	$	—	$	3,170






Marketable equity and other securities	6		—		—		6		10		—		—		10
Derivative instruments	—		124		—		124		—		104		—		104
Total assets	$	2,017	$	124	$	—	$	2,141	$	3,180	$	104	$	—	$	3,284
Liabilities:
Derivative instruments	$	—	$	101	$	—	$	101	$	—	$	84	$	—	$	84
Total liabilities	$	—	$	101	$	—	$	101	$	—	$	84	$	—	$	84

Schedule of Carrying Value and Estimated Fair Value of Outstanding Debt

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


	November 1, 2024				February 2, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value

	(in billions)

Senior Notes	$	15.0	$	15.1	$	15.5	$	15.8
Legacy Notes	$	0.9	$	1.0	$	0.9	$	1.0
DFS Debt	$	9.2	$	8.9	$	9.5	$	9.1

CAPITALIZATION - Schedule of Authorized, Issued, and Outstanding Common Stock by Class (Details) - shares shares in Millions	Nov. 01, 2024	Feb. 02, 2024
Class of Stock [Line Items]
Authorized (in shares)	8,800	8,800
Issued (in shares)	834	821
Outstanding (in shares)	702	705
Class A
Class of Stock [Line Items]
Authorized (in shares)	600	600
Issued (in shares)	302	353
Outstanding (in shares)	302	353
Class B
Class of Stock [Line Items]
Authorized (in shares)	200	200
Issued (in shares)	66	86
Outstanding (in shares)	66	86
Class C
Class of Stock [Line Items]
Authorized (in shares)	7,900	7,900
Issued (in shares)	466	382
Outstanding (in shares)	334	266
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

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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 8: 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 9: 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 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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

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
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-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
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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
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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

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Nov. 01, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Purchase Obligations The Company has contractual obligations to purchase goods or services, which specify significant terms (including fixed or minimum quantities to be purchased), fixed, minimum, or variable price provisions, and the approximate timing of the transaction. As of November 1, 2024, such purchase obligations were $6.4 billion for the remaining three months of Fiscal 2025; $0.5 billion for Fiscal 2026; and $1.2 billion for Fiscal 2027 and thereafter. 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, L.L.C. and certain of its affiliated funds (collectively, the “stockholder defendants”), and Goldman Sachs & Co. LLC, 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 the fiscal year ended February 3, 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. On May 16, 2023, during the fiscal year ended February 2, 2024, the Company paid the settlement amount following approval of the settlement by the Delaware Court of Chancery. This matter is no longer material to the Company. R2 Semiconductor Patent Litigation — In November 2022, R2 Semiconductor, Inc. (“R2”) filed a lawsuit in the Dusseldorf Regional Court in Germany against Intel Deutschland GmbH, Dell GmbH, and certain other customers of Intel Corporation. R2 asserted that one European patent is infringed by certain Intel processors and those of the Company’s products that incorporate those processors. R2 sought an injunction prohibiting the sale of the allegedly infringing products and damages for the alleged infringement. The court conducted a trial on December 7, 2023 and, on February 7, 2024, issued a decision in favor of R2 and imposed an injunction prohibiting the sale and use of such products in Germany by Dell GmbH, and requiring Dell GmbH to issue a communication to certain customers recalling the covered products sold since March 5, 2020. On February 8, 2024, the Company filed an appeal. In April and May 2024, R2 filed lawsuits in Paris, France and Milan, Italy, against affiliates of Intel Corporation (“Intel”) and of the Company, raising similar allegations. Intel agreed to defend the foregoing actions and indemnify the Company and its affiliates against certain losses incurred by the Company in connection with R2’s claims. On August 30, 2024, Intel and R2 publicly announced an agreement to dismiss all litigation between the two companies that would include dismissal of all litigation against all subsidiaries of Dell Technologies named in the foregoing actions. Pursuant to that agreement, the Italian lawsuit was dismissed on September 2, 2024, the German lawsuit was dismissed on September 4, 2024, and the French lawsuit was dismissed on September 6, 2024. Other Litigation — Dell does not currently anticipate that any of the other 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 November 1, 2024, 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 completion of the spin-off of VMware, Inc. on November 1, 2021 (the “VMware Spin-off”), Dell Technologies agreed to indemnify VMware, Inc., each of its subsidiaries and each of their respective directors, officers, employees, as well as any successors and assigns of the foregoing, 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. (currently operating under the name “VMware LLC,” and individually and together with its subsidiaries, “VMware”) and their respective businesses (the “Separation”). VMware similarly 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. The amounts that VMware and Dell Technologies may be obligated to pay each other could vary depending on the outcome of certain unresolved tax matters, which may not be resolved for several years. Net income tax indemnification receivables from VMware were immaterial as of November 1, 2024 and February 2, 2024.

RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Nov. 01, 2024

Schedule of Related Party Transactions

The following table presents information about the impact of Dell Technologies’ related party transactions with VMware on the Consolidated Statements of Income for the three and nine months ended November 3, 2023:


		Three Months Ended		Nine Months Ended
	Classification	November 3, 2023		November 3, 2023

		(in millions)
Sales and leases of products to VMware	Net revenue — products	$	16	$	94
Purchase of VMware products for resale	Cost of net revenue — products	$	379	$	970
Purchase of VMware services for resale	Cost of net revenue — services	$	884	$	2,640

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Notional Amounts of Outstanding Derivative Instruments (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Foreign Exchange Contract
Derivative [Line Items]
Notional amount	$ 12,930	$ 12,183
Foreign Exchange Contract \| Designated as cash flow hedging instruments
Derivative [Line Items]
Notional amount	6,773	6,339
Foreign Exchange Contract \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	6,157	5,844
Interest Rate Contract \| Non-designated as hedging instruments
Derivative [Line Items]
Notional amount	$ 6,357	$ 6,551

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Schedule of Information on Selected Assets (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024	Nov. 03, 2023	Feb. 03, 2023
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$ 5,225	$ 7,366
Cash and cash equivalents - held for sale	53	0
Restricted cash - other current assets	122	136
Restricted cash - other non-current assets	4	5
Total cash, cash equivalents, and restricted cash	5,404	7,507	$ 8,448	$ 8,894
Inventories:
Production materials	4,538	2,321
Work-in-process	1,013	607
Finished goods	1,101	694
Total inventories	6,652	3,622
Deferred costs:
Total deferred costs, current	4,282	5,548
Property, plant, and equipment, net:
Total property, plant, and equipment	13,805	13,617
Accumulated depreciation and amortization	(7,478)	(7,185)
Total property, plant, and equipment, net	6,327	6,432
Assets in a customer contract
Property, plant, and equipment, net:
Total property, plant, and equipment	5,270	5,022
Computer and other equipment
Property, plant, and equipment, net:
Total property, plant, and equipment	3,383	3,552
Land and buildings
Property, plant, and equipment, net:
Total property, plant, and equipment	2,816	2,877
Internal use software
Property, plant, and equipment, net:
Total property, plant, and equipment	$ 2,336	$ 2,166

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Nov. 01, 2024

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 2, 2024	$	15,041	$	4,232	$	427	$	19,700

Impact of foreign currency translation and other	(30)		—		—		(30)

Reclassification to assets held for sale (a)	—		—		(427)		(427)


Balances as of November 1, 2024	$	15,011	$	4,232	$	—	$	19,243

____________________

(a) During the three months ended November 1, 2024, Secureworks goodwill was reclassified to current assets held for sale on the Condensed Consolidated Statements of Financial Position. See Note 1 of the Notes to the Condensed Consolidated Financial Statements for additional information about the pending sale of Secureworks.

Schedule of Finite-Lived Intangible Assets

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


	November 1, 2024						February 2, 2024
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,642	$	(14,921)	$	1,721	$	16,968	$	(14,930)	$	2,038
Developed technology	9,501		(9,154)		347		9,506		(8,980)		526
Trade names	875		(851)		24		875		(823)		52

Definite-lived intangible assets	27,018		(24,926)		2,092		27,349		(24,733)		2,616
Indefinite-lived trade names	3,055		—		3,055		3,085		—		3,085
Total intangible assets	$	30,073	$	(24,926)	$	5,147	$	30,434	$	(24,733)	$	5,701

Schedule of Indefinite-Lived Intangible Assets

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


	November 1, 2024						February 2, 2024
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,642	$	(14,921)	$	1,721	$	16,968	$	(14,930)	$	2,038
Developed technology	9,501		(9,154)		347		9,506		(8,980)		526
Trade names	875		(851)		24		875		(823)		52

Definite-lived intangible assets	27,018		(24,926)		2,092		27,349		(24,733)		2,616
Indefinite-lived trade names	3,055		—		3,055		3,085		—		3,085
Total intangible assets	$	30,073	$	(24,926)	$	5,147	$	30,434	$	(24,733)	$	5,701

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:


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	160
Fiscal 2026	480
Fiscal 2027	372
Fiscal 2028	230
Fiscal 2029	190
Thereafter	660
Total	$	2,092

- 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
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Nov. 01, 2024	Aug. 02, 2024	May 03, 2024	Nov. 03, 2023	Aug. 04, 2023	May 05, 2023	Nov. 01, 2024	Nov. 03, 2023
Statement of Stockholders' Equity [Abstract]
Dividend declared (in dollars per share)	$ 0.445	$ 0.445	$ 0.445	$ 0.37	$ 0.37	$ 0.37	$ 1.335	$ 1.11
Impact from equity transactions of non-controlling interests	$ 0			$ (2)			$ (7)	$ (7)

SEGMENT INFORMATION - Schedule of Reconciliation of Revenue by Reportable Segments to Consolidated Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Segment Reporting Information [Line Items]
Total consolidated net revenue	$ 24,366	$ 22,251	$ 71,636	$ 66,107
Consolidated operating income (loss)	1,668	1,486	3,930	3,720
Amortization of intangibles	(163)	(205)	(491)	(613)
Operating Segments
Segment Reporting Information [Line Items]
Total consolidated net revenue	23,499	20,775	68,753	61,754
Consolidated operating income (loss)	2,202	1,994	5,721	5,644
Operating Segments \| Infrastructure Solutions Group
Segment Reporting Information [Line Items]
Total consolidated net revenue	11,368	8,499	32,241	24,553
Consolidated operating income (loss)	1,508	1,069	3,528	2,858
Operating Segments \| Client Solutions Group
Segment Reporting Information [Line Items]
Total consolidated net revenue	12,131	12,276	36,512	37,201
Consolidated operating income (loss)	694	925	2,193	2,786
Operating Segments \| Other businesses
Segment Reporting Information [Line Items]
Total consolidated net revenue	867	1,474	2,882	4,345
Consolidated operating income (loss)	(3)	(32)	(14)	(112)
Unallocated transactions
Segment Reporting Information [Line Items]
Total consolidated net revenue	0	2	1	8
Consolidated operating income (loss)	0	2	0	7
Other corporate expenses	(165)	(44)	(674)	(521)
Reconciling items
Segment Reporting Information [Line Items]
Amortization of intangibles	(168)	(207)	(504)	(623)
Stock-based compensation expense	$ (198)	$ (227)	$ (599)	$ (675)

LEASES - Schedule of Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Lessee, Operating Lease, Liability, Payment, Due
Fiscal 2025 (remaining three months)	$ 65
Fiscal 2026	235
Fiscal 2027	201
Fiscal 2028	154
Fiscal 2029	104
Thereafter	133
Total lease payments	892
Less: Imputed interest	87
Total	805	$ 829
Current operating lease liabilities	242	253
Non-current operating lease liabilities	$ 563	$ 576

FINANCIAL SERVICES (Tables)

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024						February 2, 2024
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Financing receivables, net:
Customer receivables, gross (a)	$	126	$	10,699	$	10,825	$	173	$	10,360	$	10,533
Allowances for losses	(7)		(137)		(144)		(9)		(161)		(170)
Customer receivables, net	119		10,562		10,681		164		10,199		10,363
Residual interest	—		169		169		—		157		157
Financing receivables, net	$	119	$	10,731	$	10,850	$	164	$	10,356	$	10,520
Short-term	$	119	$	4,882	$	5,001	$	164	$	4,479	$	4,643
Long-term	$	—	$	5,849	$	5,849	$	—	$	5,877	$	5,877

____________________

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

Schedule of Changes in Allowance for Financing Receivables Losses

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


	Three Months Ended
	November 1, 2024						November 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	8	$	158	$	166	$	9	$	140	$	149

Charge-offs, net of recoveries	(3)		(35)		(38)		(4)		(3)		(7)
Provision charged to income statement	2		14		16		4		7		11

Balances at end of period	$	7	$	137	$	144	$	9	$	144	$	153


	Nine Months Ended
	November 1, 2024						November 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	9	$	161	$	170	$	88	$	113	$	201

Charge-offs, net of recoveries	(9)		(56)		(65)		(37)		(5)		(42)
Provision charged to income statement	7		32		39		32		36		68
Other (a)	—		—		—		(74)		—		(74)
Balances at end of period	$	7	$	137	$	144	$	9	$	144	$	153

____________________

(a) Other represents the derecognition of the allowance for financing receivable losses related to the sale of the U.S. consumer revolving customer receivables portfolio described in Note 1 of the Notes to the Condensed Consolidated Financial Statements.

Schedule of Aging of Customer's Financing Receivables

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


	November 1, 2024								February 2, 2024
	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	$	107	$	15	$	4	$	126	$	151	$	17	$	5	$	173
Fixed-term	10,053		488		158		10,699		9,345		889		126		10,360
Total customer receivables, gross	$	10,160	$	503	$	162	$	10,825	$	9,496	$	906	$	131	$	10,533

Schedule of Customer Receivables, Gross, Including Accrued Interest, by Credit Quality Indicator, Segregated by Class

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


	November 1, 2024

	Fixed-term — Fiscal Year of Origination
	2025		2024		2023		2022		2021		Years Prior		Revolving		Total

	(in millions)
Higher	$	1,555	$	2,440	$	1,560	$	515	$	158	$	14	$	25	$	6,267
Mid	733		710		432		122		22		5		37		2,061
Lower	1,505		465		314		88		58		3		64		2,497
Total	$	3,793	$	3,615	$	2,306	$	725	$	238	$	22	$	126	$	10,825


	February 2, 2024

	Fixed-term — Fiscal Year of Origination
	2024		2023		2022		2021		2020		Years Prior		Revolving		Total

	(in millions)
Higher	$	3,261	$	1,979	$	833	$	345	$	64	$	—	$	47	$	6,529
Mid	1,111		911		290		86		19		—		50		2,467
Lower	703		469		187		80		21		1		76		1,537
Total	$	5,075	$	3,359	$	1,310	$	511	$	104	$	1	$	173	$	10,533

Schedule of Net Revenue, Cost of Net Revenue, and Gross Margin Recognized

The following table presents amounts included in the Condensed Consolidated Statements of Income related to sales-type lease activity for the periods indicated:


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)


Net revenue — products	$	401	$	227	$	1,751	$	766
Cost of net revenue — products	333		176		1,488		564
Gross margin — products	$	68	$	51	$	263	$	202

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 Statements of Financial Position as of the date indicated:


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	871
Fiscal 2026	3,114
Fiscal 2027	2,085
Fiscal 2028	793
Fiscal 2029 and beyond	454
Total undiscounted cash flows	7,317
Fixed-term loans	4,466
Revolving loans	126
Less: Unearned income	(1,084)
Total customer receivables, gross	$	10,825

Schedule of Components of Operating Lease Portfolio Included in Property, Plant, and Equipment, Net

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:


	November 1, 2024		February 2, 2024

	(in millions)
Equipment under operating lease, gross	$	4,188	$	4,002
Less: Accumulated depreciation	(1,971)		(1,800)
Equipment under operating lease, net	$	2,217	$	2,202

Schedule of Operating Lease Income Related to Lease Payments and Depreciation 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Income related to lease payments	$	372	$	341	$	1,090	$	992
Depreciation expense	$	247	$	234	$	732	$	703

Schedule of Future Payments to be Received in Operating Lease Contracts

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


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	347
Fiscal 2026	1,079
Fiscal 2027	665
Fiscal 2028	316
Fiscal 2029 and beyond	121
Total	$	2,528

Schedule of DFS Debt

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:


	November 1, 2024		February 2, 2024

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing facility	$	2,753	$	2,730
Fixed-term securitization offerings	3,264		3,157
Other	—		28
Total DFS U.S. debt, principal amount	6,017		5,915
DFS international debt:
Securitization facility	723		761
Other borrowings	798		935
Note payable	—		250
Dell Bank senior unsecured eurobonds	1,633		1,631
Total DFS international debt, principal amount	3,154		3,577
Total DFS debt, principal amount	$	9,171	$	9,492
Total short-term DFS debt	$	5,582	$	5,863
Total long-term DFS debt	$	3,589	$	3,629

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


	November 1, 2024		February 2, 2024

	(in millions)
Senior Notes	$	15,073	$	15,607

Legacy Notes	952		952
DFS Debt (Note 4)	9,171		9,492
Other	56		171
Total debt, principal amount	25,252		26,222
Unamortized discount, net of unamortized premium	(113)		(114)
Debt issuance costs	(117)		(114)
Total debt, carrying value	$	25,022	$	25,994
Total short-term debt, carrying value	$	5,612	$	6,982
Total long-term debt, carrying value	$	19,410	$	19,012

Schedule of Assets and Liabilities 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:


	November 1, 2024		February 2, 2024

	(in millions)
Assets held by consolidated VIEs
Other current assets	$	123	$	136
Financing receivables, net of allowance
Short-term	$	3,354	$	3,314
Long-term	$	2,989	$	2,747
Property, plant, and equipment, net	$	1,022	$	1,081
Liabilities held by consolidated VIEs
Debt, net of unamortized debt issuance costs
Short-term	$	4,888	$	4,450
Long-term	$	1,838	$	2,184

FAIR VALUE MEASUREMENTS

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024								February 2, 2024
	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	$	2,011	$	—	$	—	$	2,011	$	3,170	$	—	$	—	$	3,170






Marketable equity and other securities	6		—		—		6		10		—		—		10
Derivative instruments	—		124		—		124		—		104		—		104
Total assets	$	2,017	$	124	$	—	$	2,141	$	3,180	$	104	$	—	$	3,284
Liabilities:
Derivative instruments	$	—	$	101	$	—	$	101	$	—	$	84	$	—	$	84
Total liabilities	$	—	$	101	$	—	$	101	$	—	$	84	$	—	$	84

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 November 1, 2024, 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 and liabilities associated with the plans are measured at fair value using Level 1 inputs. Assets were the same as liabilities associated with the plans at approximately $243 million and $214 million as of November 1, 2024 and February 2, 2024, respectively, and are included in other assets and other liabilities on the Condensed Consolidated Statements of Financial Position. The net impact on 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 financial assets such as the Company’s fixed income debt securities and strategic investments in non-marketable equity and other securities and non-financial assets such as goodwill and intangible assets.

Fixed income debt securities are recorded at amortized cost and approximate fair value. The fair value of fixed income debt securities is determined based on observable market prices in a less active market or based on valuation methodologies using observable inputs. If measured at fair value in the Condensed Consolidated Statements of Financial Position, these securities would generally be classified as Level 2 in the fair value hierarchy. See Note 3 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s fixed income debt securities.

Strategic investments in non-marketable equity and other securities and certain non-financial assets such as goodwill and intangibles are measured at fair value only if they are deemed to be impaired or when there is an adjustment from observable price changes in the current period. If measured at fair value in the Condensed Consolidated Statements of Financial Position, these securities would generally be classified as Level 3 in the fair value hierarchy. See Note 3 and Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s investments and goodwill and intangible assets, respectively.


	November 1, 2024				February 2, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value

	(in billions)

Senior Notes	$	15.0	$	15.1	$	15.5	$	15.8
Legacy Notes	$	0.9	$	1.0	$	0.9	$	1.0
DFS Debt	$	9.2	$	8.9	$	9.5	$	9.1

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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

LEASES (Tables)

9 Months Ended

Nov. 01, 2024

Leases [Abstract]

Schedule of Components of Lease Costs 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Operating lease costs	$	75	$	79	$	221	$	221
Variable costs	15		19		48		62
Total lease costs	$	90	$	98	$	269	$	283

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	November 1, 2024			February 2, 2024

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	700		$	707

Current operating lease liabilities	Accrued and other current liabilities	$	242		$	253
Non-current operating lease liabilities	Other non-current liabilities	563			576
Total operating lease liabilities		$	805		$	829

Weighted-average remaining lease term (in years)		4.47			4.56
Weighted-average discount rate		5.04		%	4.79		%

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


	Nine Months Ended
	November 1, 2024		November 3, 2023

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	201	$	220

Right-of-use assets obtained in exchange for new operating lease liabilities	$	165	$	205

Schedule of Maturity of Operating Lease Liabilities

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


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	65
Fiscal 2026	235
Fiscal 2027	201
Fiscal 2028	154
Fiscal 2029	104
Thereafter	133
Total lease payments	892
Less: Imputed interest	87
Total	$	805
Current operating lease liabilities	$	242
Non-current operating lease liabilities	$	563

FINANCIAL SERVICES - Narrative (Details) - USD ($) $ in Billions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
New financing originations	$ 1.6	$ 1.8	$ 5.9	$ 6.0
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
Revolving
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repayment term (in years)			12 months

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024		February 2, 2024

	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	6,773	$	6,339
Non-designated as hedging instruments	6,157		5,844
Total	$	12,930	$	12,183
Interest rate contracts:

Non-designated as hedging instruments	$	6,357	$	6,551

Schedule of Derivative Instruments Designated as Cash Flow 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 November 1, 2024:
			Total net revenue	$	(57)
Foreign exchange contracts	$	(9)	Total cost of net revenue	3

Total	$	(9)	Total	$	(54)

For the three months ended November 3, 2023:
			Total net revenue	$	83
Foreign exchange contracts	$	171	Total cost of net revenue	1

Total	$	171	Total	$	84

For the nine months ended November 1, 2024:
			Total net revenue	$	(25)
Foreign exchange contracts	$	58	Total cost of net revenue	8

Total	$	58	Total	$	(17)

For the nine months ended November 3, 2023:
			Total net revenue	$	(68)
Foreign exchange contracts	$	230	Total cost of net revenue	(7)

Total	$	230	Total	$	(75)

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023		Location of Gain (Loss) Recognized

	(in millions)
Foreign exchange contracts	$	(13)	$	(114)	$	(58)	$	(97)	Interest and other, net
Interest rate contracts	32		2		21		5		Interest and other, net

Total	$	19	$	(112)	$	(37)	$	(92)

Schedule of Fair Value of Derivative Instruments

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


	November 1, 2024
	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	$	124	$	—	$	18	$	—	$	142
Foreign exchange contracts in a liability position	(3)		—		(3)		—		(6)


Net asset (liability)	121		—		15		—		136
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	102		—		47		—		149
Foreign exchange contracts in a liability position	(139)		—		(128)		—		(267)
Interest rate contracts in an asset position	—		40		—		—		40
Interest rate contracts in a liability position	—		—		—		(35)		(35)
Net asset (liability)	(37)		40		(81)		(35)		(113)
Total derivatives at fair value	$	84	$	40	$	(66)	$	(35)	$	23

	February 2, 2024
	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	$	44	$	—	$	19	$	—	$	63
Foreign exchange contracts in a liability position	(5)		—		(15)		—		(20)


Net asset (liability)	39		—		4		—		43
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	90		—		71		—		161
Foreign exchange contracts in a liability position	(68)		—		(121)		—		(189)
Interest rate contracts in an asset position	3		40		—		—		43
Interest rate contracts in a liability position	—		—		(10)		(28)		(38)
Net asset (liability)	25		40		(60)		(28)		(23)
Total derivatives at fair value	$	64	$	40	$	(56)	$	(28)	$	20

Schedule of Gross Amounts of the Company’s 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:


	November 1, 2024
	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	$	331	$	(207)	$	124	$	—	$	(28)	$	96
Financial liabilities	(308)		207		(101)		—		3		(98)
Total derivative instruments	$	23	$	—	$	23	$	—	$	(25)	$	(2)

	February 2, 2024
	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	$	267	$	(163)	$	104	$	—	$	(24)	$	80
Financial liabilities	(247)		163		(84)		—		9		(75)
Total derivative instruments	$	20	$	—	$	20	$	—	$	(15)	$	5

Schedule of Amounts Offset Due to Master Netting Agreements


	November 1, 2024
	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	$	331	$	(207)	$	124	$	—	$	(28)	$	96
Financial liabilities	(308)		207		(101)		—		3		(98)
Total derivative instruments	$	23	$	—	$	23	$	—	$	(25)	$	(2)

	February 2, 2024
	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	$	267	$	(163)	$	104	$	—	$	(24)	$	80
Financial liabilities	(247)		163		(84)		—		9		(75)
Total derivative instruments	$	20	$	—	$	20	$	—	$	(15)	$	5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Derivatives, Fair Value [Line Items]
Asset position	$ 331	$ 267
Liability position	(308)	(247)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	23	20
Other Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	84	64
Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	40	40
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(66)	(56)
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(35)	(28)
Designated as cash flow hedging instruments
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	136	43
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	121	39
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	15	4
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	0
Designated as cash flow hedging instruments \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Asset position	142	63
Liability position	(6)	(20)
Designated as cash flow hedging instruments \| Foreign Exchange Contract \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	124	44
Liability position	(3)	(5)
Designated as cash flow hedging instruments \| Foreign Exchange Contract \| 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 Contract \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	18	19
Liability position	(3)	(15)
Designated as cash flow hedging instruments \| Foreign Exchange Contract \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments
Derivatives, Fair Value [Line Items]
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(113)	(23)
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	(37)	25
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	40	40
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	(81)	(60)
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	(35)	(28)
Non-designated as hedging instruments \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Asset position	149	161
Liability position	(267)	(189)
Non-designated as hedging instruments \| Foreign Exchange Contract \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	102	90
Liability position	(139)	(68)
Non-designated as hedging instruments \| Foreign Exchange Contract \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments \| Foreign Exchange Contract \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	47	71
Liability position	(128)	(121)
Non-designated as hedging instruments \| Foreign Exchange Contract \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	0
Non-designated as hedging instruments \| Interest Rate Contract
Derivatives, Fair Value [Line Items]
Asset position	40	43
Liability position	(35)	(38)
Non-designated as hedging instruments \| Interest Rate Contract \| Other Current Assets
Derivatives, Fair Value [Line Items]
Asset position	0	3
Liability position	0	0
Non-designated as hedging instruments \| Interest Rate Contract \| Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Asset position	40	40
Liability position	0	0
Non-designated as hedging instruments \| Interest Rate Contract \| Other Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	0	(10)
Non-designated as hedging instruments \| Interest Rate Contract \| Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Asset position	0	0
Liability position	$ (35)	$ (28)

INVESTMENTS - Schedule of Gains and Losses on Equity and Other Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Marketable securities:
Unrealized gain	$ 3	$ 0	$ 3	$ 1
Unrealized loss	0	0	(6)	(23)
Net unrealized gain (loss)	3	0	(3)	(22)
Non-marketable securities:
Unrealized gain	7	6	7	15
Unrealized loss	0	(3)	(31)	(49)
Net unrealized gain (loss)	7	3	(24)	(34)
Net unrealized gain (loss) on equity and other securities	$ 10	$ 3	$ (27)	$ (56)

OVERVIEW AND BASIS OF PRESENTATION

9 Months Ended

Nov. 01, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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, branded peripherals, 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 2, 2024. 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 November 1, 2024 and February 2, 2024 and the results of its operations, corresponding comprehensive income, changes in stockholders’ equity (deficit) for the three and nine months ended November 1, 2024 and November 3, 2023, and its cash flows for the nine months ended November 1, 2024 and November 3, 2023.

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 its operations, corresponding comprehensive income, and changes in stockholders’ equity (deficit) for the three and nine months ended November 1, 2024 and November 3, 2023, and its cash flows for the nine months ended November 1, 2024 and November 3, 2023 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. Both the fiscal year ended February 2, 2024 (“Fiscal 2024”) and the fiscal year ending January 31, 2025 (“Fiscal 2025”) are 52-week periods.

Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies Inc., its wholly-owned subsidiaries, and the accounts of SecureWorks Corp. (“Secureworks”), which is majority-owned by Dell Technologies. All intercompany transactions have been eliminated.

The Company also 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.

Secureworks — As of November 1, 2024 and February 2, 2024, the Company held approximately 78.7% and 81.0%, 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 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 non-controlling interests in the Condensed Consolidated Statements of Financial Position and was $95 million as of both November 1, 2024 and February 2, 2024.

On October 21, 2024, Secureworks announced that it has entered into a definitive agreement pursuant to which Sophos Inc., an affiliate of Thoma Bravo, L.P., a private equity and growth capital firm, will acquire Secureworks in an all-cash transaction for approximately $0.9 billion, subject to certain closing adjustments. The transaction is expected to close in early 2025, subject to customary closing conditions.

In accordance with applicable accounting guidance, the Company concluded that Secureworks’ assets and liabilities have met the criteria to be classified as held-for-sale as of November 1, 2024. The Company reclassified the related assets and liabilities as Current assets held for sale and Current liabilities held for sale, respectively, in the accompanying Condensed Consolidated Statements of Financial Position as of November 1, 2024.

The following table presents the major classes of assets and liabilities as of November 1, 2024 related to Secureworks, which were classified as held for sale as of the date indicated:


	November 1, 2024
	(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	53
Accounts receivable, net	47
Other current assets	15
Total current assets	115
Goodwill	427
Intangible assets, net	63
Other non-current assets	57
Total assets	$	662
LIABILITIES
Current liabilities:
Accrued and other	$	58
Short-term deferred revenue	125
Total current liabilities	183
Other non-current liabilities	28
Total liabilities	$	211

The sale of Secureworks does not meet the criteria for discontinued operations reporting, and as a result its operating results and cash flows are not separately stated as a discontinued operation in the accompanying Condensed Consolidated Financial Statements. As Secureworks does not meet the requirements for a reportable segment, its operating results are included within Other businesses.

Other Events — On October 4, 2023, the Company established a new consumer revolving financing program with Comenity Capital Bank, a subsidiary of Bread Financial Holdings, Inc. (“Bread”), under which transactions are originated, owned, serviced, and collected by Bread. Under the agreement, the Company also sold its U.S. consumer revolving customer receivables portfolio for total cash consideration of approximately $390 million, resulting in an immaterial gain recognized within the Condensed Consolidated Statements of Income. The Company has no continuing involvement with these receivables, which are serviced by Bread.

Recently Issued Accounting Pronouncements

Expense Disaggregation Disclosures — In November 2024, the Financial Accounting Standards Board (“FASB”) issued guidance to improve disclosures about a public entity’s expenses by requiring disclosure of additional information about the types of expenses commonly presented in the financial statements on an annual and interim basis. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2026, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements.

Income Taxes — In December 2023, the FASB issued guidance which requires companies to provide disaggregated income tax disclosures within the income tax rate reconciliation and income taxes paid. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2024, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements.

Segment Reporting — In November 2023, the FASB issued guidance to improve disclosures about a public entity’s reportable segments by requiring disclosure of additional information about a reportable segment’s expenses on an annual and interim basis. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2023, with early adoption permitted. Upon adoption, the guidance is required to be applied retrospectively to all prior periods presented in the financial statements. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements.

CAPITALIZATION

9 Months Ended

Nov. 01, 2024

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 November 1, 2024
Class A	600	302	302
Class B	200	66	66
Class C	7,900	466	334
Class D	100	—	—

	8,800	834	702

Common stock as of February 2, 2024
Class A	600	353	353
Class B	200	86	86
Class C	7,900	382	266
Class D	100	—	—

	8,800	821	705

Preferred Stock

The Company is authorized to issue one million shares of preferred stock, par value $0.01 per share. As of November 1, 2024 and February 2, 2024, 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 nine months ended November 1, 2024, the Company issued 71 million shares of Class C Common Stock to stockholders upon the conversion of 51 million shares of Class A Common Stock and 20 million shares of Class B Common Stock in accordance with the Company’s certificate of incorporation. During the fiscal year ended February 2, 2024, the Company issued 34 million shares of Class C Common Stock to stockholders upon the conversion of 25 million shares of Class A Common Stock and 9 million shares of Class B Common Stock in accordance with the Company’s certificate of incorporation.

Dividends

On February 29, 2024, the Company announced that the Board of Directors approved a 20% increase in the quarterly dividend rate to $0.445 per share per fiscal quarter beginning in the first quarter of Fiscal 2025.

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 2025
May 3, 2024	February 29, 2024	April 23, 2024	May 3, 2024	$	0.445	$	316
August 2, 2024	June 11, 2024	July 23, 2024	August 2, 2024	$	0.445	$	314
November 1, 2024	September 18, 2024	October 22, 2024	November 1, 2024	$	0.445	$	312


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
November 3, 2023	September 28, 2023	October 24, 2023	November 3, 2023	$	0.37	$	266

During the three and nine months ended November 1, 2024 and November 3, 2023, the Company also paid an immaterial amount of dividend equivalents on eligible vested equity awards which are not included 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 billion of shares of Class C Common Stock with no fixed expiration date, exclusive of any fees, commissions, or other expenses related to such repurchases.

Effective as of October 5, 2023, the Company’s Board of Directors approved the repurchase of an additional $5 billion of shares of the Company’s Class C Common Stock under the stock repurchase program. Following the approval, the Company had approximately $5.7 billion in authorized amount remaining under the program.

During the nine months ended November 1, 2024, the Company repurchased approximately 16 million shares of Class C Common Stock for a total purchase price of approximately $1.8 billion. During the nine months ended November 3, 2023, the Company repurchased approximately 22 million shares of Class C Common Stock for a total purchase price of approximately $1.3 billion. As of November 1, 2024, the Company had approximately $2.6 billion in authorized amount remaining under the stock repurchase program.

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

- Definition

The entire disclosure for equity.

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
	Nov. 01, 2024 USD ($)
Goodwill [Roll Forward]
Balance at the beginning	$ 19,700
Impact of foreign currency translation and other	(30)
Reclassification to assets held for sale	(427)
Balance at the end	19,243
Operating Segments \| Infrastructure Solutions Group
Goodwill [Roll Forward]
Balance at the beginning	15,041
Impact of foreign currency translation and other	(30)
Reclassification to assets held for sale	0
Balance at the end	15,011
Operating Segments \| Client Solutions Group
Goodwill [Roll Forward]
Balance at the beginning	4,232
Impact of foreign currency translation and other	0
Reclassification to assets held for sale	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
Reclassification to assets held for sale	(427)
Balance at the end	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Nov. 01, 2024

Nov. 03, 2023

Nov. 01, 2024

Nov. 03, 2023

Accumulated Other Comprehensive Income (Loss) [Line Items]

Net revenue

$ 24,366

$ 22,251

$ 71,636

$ 66,107

Cost of net revenue

^[1]

(19,059)

(17,103)

(56,212)

(50,554)

Operating expenses

(3,639)

(3,662)

(11,494)

(11,833)

Net income

1,127

1,004

2,923

2,037

Total reclassifications, net of tax

Accumulated Other Comprehensive Income (Loss) [Line Items]

Net revenue

(57)

(25)

(68)

Cost of net revenue

(7)

Operating expenses

Net income

(54)

(16)

(75)

Total reclassifications, net of tax | Cash Flow Hedges

Accumulated Other Comprehensive Income (Loss) [Line Items]

Net revenue

(57)

(25)

(68)

Cost of net revenue

(7)

Operating expenses

Net income

(54)

(17)

(75)

Total reclassifications, net of tax | Pension and Other Postretirement Plans

Accumulated Other Comprehensive Income (Loss) [Line Items]

$ 0

$ 1

$ 0

[1]


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

- 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

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+ Details

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Fair Value Disclosures [Abstract]
Deferred compensation plan assets	$ 243	$ 214

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

3 Months Ended

9 Months Ended

Nov. 01, 2024

Nov. 03, 2023

Nov. 01, 2024

Nov. 03, 2023

Net revenue:

Total net revenue

$ 24,366

$ 22,251

$ 71,636

$ 66,107

Cost of net revenue :

Total cost of net revenue

^[1]

19,059

17,103

56,212

50,554

Gross margin

5,307

5,148

15,424

15,553

Operating expenses:

Selling, general, and administrative

2,894

2,970

9,206

9,748

Research and development

745

692

2,288

2,085

Total operating expenses

3,639

3,662

11,494

11,833

Operating income

1,668

1,486

3,930

3,720

Interest and other, net

(276)

(306)

(1,002)

(1,121)

Income before income taxes

1,392

1,180

2,928

2,599

Income tax expense

265

176

562

Net income

1,127

1,004

2,923

2,037

Less: Net loss attributable to non-controlling interests

(5)

(2)

(15)

(14)

Net income attributable to Dell Technologies Inc.

$ 1,132

$ 1,006

$ 2,938

$ 2,051

Earnings per share attributable to Dell Technologies Inc.

Basic (in dollars per share)

$ 1.61

$ 1.39

$ 4.16

$ 2.83

Diluted (in dollars per share)

$ 1.58

$ 1.36

$ 4.07

$ 2.78

Products

Net revenue:

Total net revenue

$ 18,290

$ 16,233

$ 53,371

$ 48,204

Cost of net revenue :

Total cost of net revenue

^[1]

15,541

13,546

45,386

39,923

Services

Net revenue:

Total net revenue

6,076

6,018

18,265

17,903

Cost of net revenue :

Total cost of net revenue

^[1]

$ 3,518

$ 3,557

$ 10,826

$ 10,631

[1]


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

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
Beginning balance (in shares) at Feb. 03, 2023			798
Beginning balance at Feb. 03, 2023	$ (3,025)	$ (3,122)	$ 8,424	$ (3,813)	$ (6,732)	$ (1,001)	$ 97
Beginning balance (in shares) at Feb. 03, 2023				82
Increase (Decrease) in Stockholders' Equity
Net income (loss)	2,037	2,051			2,051		(14)
Dividends and dividend equivalents declared	(838)	(838)			(838)
Foreign currency translation adjustments	(130)	(130)				(130)
Cash flow hedges, net change	305	305				305
Pension and other post-retirement	3	3				3
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			21
Issuance of common stock, net of shares repurchased for employee tax withholding	(339)	(339)	$ (339)
Stock-based compensation expense	675	650	650				25
Treasury stock repurchases (in shares)				22
Treasury stock repurchases	(1,251)	(1,251)		$ (1,251)
Impact from equity transactions of non-controlling interests	(7)	7	$ 7				(14)
Ending balance (in shares) at Nov. 03, 2023			819
Ending balance at Nov. 03, 2023	(2,570)	(2,664)	$ 8,742	$ (5,064)	(5,519)	(823)	94
Ending balance (in shares) at Nov. 03, 2023				104
Beginning balance (in shares) at Aug. 04, 2023			817
Beginning balance at Aug. 04, 2023	(2,677)	(2,772)	$ 8,554	$ (4,320)	(6,249)	(757)	95
Beginning balance (in shares) at Aug. 04, 2023				93
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,004	1,006			1,006		(2)
Dividends and dividend equivalents declared	(276)	(276)			(276)
Foreign currency translation adjustments	(155)	(155)				(155)
Cash flow hedges, net change	87	87				87
Pension and other post-retirement	2	2				2
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			2
Issuance of common stock, net of shares repurchased for employee tax withholding	(36)	(36)	$ (36)
Stock-based compensation expense	227	217	217				10
Treasury stock repurchases (in shares)				11
Treasury stock repurchases	(744)	(744)		$ (744)
Impact from equity transactions of non-controlling interests	(2)	7	$ 7				(9)
Ending balance (in shares) at Nov. 03, 2023			819
Ending balance at Nov. 03, 2023	$ (2,570)	(2,664)	$ 8,742	$ (5,064)	(5,519)	(823)	94
Ending balance (in shares) at Nov. 03, 2023				104
Beginning balance (in shares) at Feb. 02, 2024	821		821
Beginning balance at Feb. 02, 2024	$ (2,309)	(2,404)	$ 8,926	$ (5,900)	(4,630)	(800)	95
Beginning balance (in shares) at Feb. 02, 2024				116
Increase (Decrease) in Stockholders' Equity
Net income (loss)	2,923	2,938			2,938		(15)
Dividends and dividend equivalents declared	(977)	(977)			(977)
Foreign currency translation adjustments	(95)	(95)				(95)
Cash flow hedges, net change	75	75				75
Pension and other post-retirement	0
Issuance of common stock, net of shares repurchased for employee tax withholding (in shares)			13
Issuance of common stock, net of shares repurchased for employee tax withholding	(552)	(552)	$ (552)
Stock-based compensation expense	599	571	571				28
Treasury stock repurchases (in shares)				16
Treasury stock repurchases	(1,847)	(1,847)		$ (1,847)
Impact from equity transactions of non-controlling interests	$ (7)	6	$ 6				(13)
Ending balance (in shares) at Nov. 01, 2024	834		834
Ending balance at Nov. 01, 2024	$ (2,190)	(2,285)	$ 8,951	$ (7,747)	(2,669)	(820)	95
Ending balance (in shares) at Nov. 01, 2024				132
Beginning balance (in shares) at Aug. 02, 2024			833
Beginning balance at Aug. 02, 2024	(2,797)	(2,894)	$ 8,782	$ (7,334)	(3,478)	(864)	97
Beginning balance (in shares) at Aug. 02, 2024				128
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,127	1,132			1,132		(5)
Dividends and dividend equivalents declared	(323)	(323)			(323)
Foreign currency translation adjustments	(1)	(1)				(1)
Cash flow hedges, net change	45	45				45
Pension and other post-retirement	0
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	(26)	(26)	$ (26)
Stock-based compensation expense	198	187	187				11
Treasury stock repurchases (in shares)				4
Treasury stock repurchases	(413)	(413)		$ (413)
Impact from equity transactions of non-controlling interests	$ 0	8	$ 8				(8)
Ending balance (in shares) at Nov. 01, 2024	834		834
Ending balance at Nov. 01, 2024	$ (2,190)	$ (2,285)	$ 8,951	$ (7,747)	$ (2,669)	$ (820)	$ 95
Ending balance (in shares) at Nov. 01, 2024				132

COVER - shares	9 Months Ended
COVER - shares	Nov. 01, 2024	Dec. 03, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 01, 2024
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	--01-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class C
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		357,337,184
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		276,762,341
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		66,359,626

LEASES - Schedule of Components of Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Operating lease expense:
Operating lease costs	$ 75	$ 79	$ 221	$ 221
Variable costs	15	19	48	62
Total lease costs	$ 90	$ 98	$ 269	$ 283

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

9 Months Ended

Nov. 01, 2024

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 line items on the Condensed Consolidated Statements of Income 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 nine months ended November 1, 2024 and November 3, 2023, 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 senior unsecured eurobonds. The interest rate swaps economically convert the fixed rate on the Company’s 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. See Note 4 of the Notes to the Condensed Consolidated Financial Statements for more information about the Dell Bank senior unsecured eurobonds.

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 rate. The notional value of the swaps amortizes in line with the expected cash flows and run-off of the securitized assets. The swaps are not designated for hedge accounting and expire within five years or less.

Derivative Instruments

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


	November 1, 2024		February 2, 2024

	(in millions)
Foreign exchange contracts:
Designated as cash flow hedging instruments	$	6,773	$	6,339
Non-designated as hedging instruments	6,157		5,844
Total	$	12,930	$	12,183
Interest rate contracts:

Non-designated as hedging instruments	$	6,357	$	6,551


Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives		Location of Gain (Loss) Reclassified from Accumulated OCI into Income	Gain (Loss) Reclassified from Accumulated OCI into Income

	(in millions)			(in millions)
For the three months ended November 1, 2024:
			Total net revenue	$	(57)
Foreign exchange contracts	$	(9)	Total cost of net revenue	3

Total	$	(9)	Total	$	(54)

For the three months ended November 3, 2023:
			Total net revenue	$	83
Foreign exchange contracts	$	171	Total cost of net revenue	1

Total	$	171	Total	$	84

For the nine months ended November 1, 2024:
			Total net revenue	$	(25)
Foreign exchange contracts	$	58	Total cost of net revenue	8

Total	$	58	Total	$	(17)

For the nine months ended November 3, 2023:
			Total net revenue	$	(68)
Foreign exchange contracts	$	230	Total cost of net revenue	(7)

Total	$	230	Total	$	(75)

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023		Location of Gain (Loss) Recognized

	(in millions)
Foreign exchange contracts	$	(13)	$	(114)	$	(58)	$	(97)	Interest and other, net
Interest rate contracts	32		2		21		5		Interest and other, net

Total	$	19	$	(112)	$	(37)	$	(92)

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:


	November 1, 2024
	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	$	124	$	—	$	18	$	—	$	142
Foreign exchange contracts in a liability position	(3)		—		(3)		—		(6)


Net asset (liability)	121		—		15		—		136
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	102		—		47		—		149
Foreign exchange contracts in a liability position	(139)		—		(128)		—		(267)
Interest rate contracts in an asset position	—		40		—		—		40
Interest rate contracts in a liability position	—		—		—		(35)		(35)
Net asset (liability)	(37)		40		(81)		(35)		(113)
Total derivatives at fair value	$	84	$	40	$	(66)	$	(35)	$	23

	February 2, 2024
	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	$	44	$	—	$	19	$	—	$	63
Foreign exchange contracts in a liability position	(5)		—		(15)		—		(20)


Net asset (liability)	39		—		4		—		43
Derivatives not designated as hedging instruments:
Foreign exchange contracts in an asset position	90		—		71		—		161
Foreign exchange contracts in a liability position	(68)		—		(121)		—		(189)
Interest rate contracts in an asset position	3		40		—		—		43
Interest rate contracts in a liability position	—		—		(10)		(28)		(38)
Net asset (liability)	25		40		(60)		(28)		(23)
Total derivatives at fair value	$	64	$	40	$	(56)	$	(28)	$	20


	November 1, 2024
	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	$	331	$	(207)	$	124	$	—	$	(28)	$	96
Financial liabilities	(308)		207		(101)		—		3		(98)
Total derivative instruments	$	23	$	—	$	23	$	—	$	(25)	$	(2)

	February 2, 2024
	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	$	267	$	(163)	$	104	$	—	$	(24)	$	80
Financial liabilities	(247)		163		(84)		—		9		(75)
Total derivative instruments	$	20	$	—	$	20	$	—	$	(15)	$	5

LEASES - Narrative (Details)	Nov. 01, 2024
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	11 years

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Related Party Transaction [Line Items]
Net revenue	$ 24,366	$ 22,251	$ 71,636	$ 66,107
Products
Related Party Transaction [Line Items]
Net revenue	18,290	16,233	53,371	48,204
Services
Related Party Transaction [Line Items]
Net revenue	6,076	6,018	18,265	17,903
Related Party \| Products
Related Party Transaction [Line Items]
Net revenue		16		94
Cost of net revenue	0	379	0	970
Related Party \| Services
Related Party Transaction [Line Items]
Cost of net revenue	$ 0	$ 884	$ 0	$ 2,640

- Definition

+ References

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 1,127	$ 1,004	$ 2,923	$ 2,037
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	(1)	(155)	(95)	(130)
Cash flow hedges:
Change in unrealized gains (losses)	(9)	171	58	230
Reclassification adjustment for net (gains) losses included in net income	54	(84)	17	75
Net change in cash flow hedges	45	87	75	305
Pension and other postretirement plans:
Recognition of actuarial net gains from pension and other postretirement plans	0	2	1	3
Reclassification adjustments for net gains from pension and other postretirement plans	0	0	(1)	0
Net change in actuarial net gains from pension and other postretirement plans	0	2	0	3
Total other comprehensive income (loss), net of tax expense of $3 and $6, respectively, and $10 and $18, respectively	44	(66)	(20)	178
Comprehensive income, net of tax	1,171	938	2,903	2,215
Less: Net loss attributable to non-controlling interests	(5)	(2)	(15)	(14)
Comprehensive income attributable to Dell Technologies Inc.	$ 1,176	$ 940	$ 2,918	$ 2,229

LEASES - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$ 201	$ 220
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 165	$ 205

FINANCIAL SERVICES - Variable Interest Entities (Narrative) (Details) - USD ($) $ in Billions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Financing receivables transferred via securitization through SPEs	$ 1.0	$ 1.1	$ 3.0	$ 3.7

- 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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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Nov. 01, 2024

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 2, 2024	$	(755)	$	(30)	$	(15)	$	(800)
Other comprehensive income (loss) before reclassifications	(95)		58		1		(36)
Amounts reclassified from accumulated other comprehensive income (loss)	—		17		(1)		16
Total change for the period	(95)		75		—		(20)

Balances as of November 1, 2024	$	(850)	$	45	$	(15)	$	(820)

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 about 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
	November 1, 2024		November 3, 2023
	Cash Flow Hedges		Pensions		Total		Cash Flow Hedges		Pensions		Total

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(57)	$	—	$	(57)	$	83	$	—	$	83
Cost of net revenue	3		—		3		1		—		1
Operating expenses	—		—		—		—		—		—


Total reclassifications, net of tax	$	(54)	$	—	$	(54)	$	84	$	—	$	84


	Nine Months Ended
	November 1, 2024		November 3, 2023
	Cash Flow Hedges		Pensions		Total		Cash Flow Hedges		Pensions		Total

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(25)	$	—	$	(25)	$	(68)	$	—	$	(68)
Cost of net revenue	8		—		8		(7)		—		(7)
Operating expenses	—		1		1		—		—		—


Total reclassifications, net of tax	$	(17)	$	1	$	(16)	$	(75)	$	—	$	(75)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Nov. 01, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CAPITALIZATION - Narrative (Details) $ / shares in Units, $ in Millions		3 Months Ended						9 Months Ended		12 Months Ended
	Feb. 29, 2024	Nov. 01, 2024 USD ($) $ / shares shares	Aug. 02, 2024 $ / shares	May 03, 2024 $ / shares	Nov. 03, 2023 USD ($) $ / shares	Aug. 04, 2023 $ / shares	May 05, 2023 $ / shares	Nov. 01, 2024 USD ($) vote $ / shares shares	Nov. 03, 2023 USD ($) $ / shares shares	Feb. 02, 2024 $ / shares shares	Oct. 05, 2023 USD ($)	Sep. 23, 2021 USD ($)
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 value (in dollars per share) \| $ / shares		$ 0.01						$ 0.01		$ 0.01
Common stock conversion ratio		1						1
Common stock dividend rate increase (as a percent)	20.00%
Dividend declared (in dollars per share) \| $ / shares		$ 0.445	$ 0.445	$ 0.445	$ 0.37	$ 0.37	$ 0.37	$ 1.335	$ 1.11
Treasury stock repurchases \| $		$ 413			$ 744			$ 1,847	$ 1,251
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
Conversion of stock, shares issued (in shares)								71,000,000		34,000,000
Stock repurchases, authorized amount \| $												$ 5,000
Stock repurchase program, additional authorized amount \| $											$ 5,000
Stock repurchases, remaining authorized amount \| $		$ 2,600						$ 2,600			$ 5,700
Shares repurchased (in shares)								16,000,000	22,000,000
Treasury stock repurchases \| $								$ 1,800	$ 1,300
Class C \| Class A Common Stock into Class C Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued (in shares)								51,000,000		25,000,000
Class C \| Class B Common Stock into Class C Common Stock
Class of Stock [Line Items]
Conversion of stock, shares issued (in shares)								20,000,000		9,000,000
Class D
Class of Stock [Line Items]
Number of voting interests per share \| vote								1

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Nov. 01, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

DEFERRED REVENUE - Narrative (Details) $ in Billions	Nov. 01, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 37
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation percentage	60.00%
Deferred revenue recognition period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue recognition period

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Future Annual Pre-Tax Amortization Expense (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2025 (remaining three months)	$ 160
Fiscal 2026	480
Fiscal 2027	372
Fiscal 2028	230
Fiscal 2029	190
Thereafter	660
Total	$ 2,092	$ 2,616

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Statement of Comprehensive Income [Abstract]
Tax expense (benefit)	$ 3	$ 6	$ 10	$ 18

- 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
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 45
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Gross Amounts of Derivative Instruments and Amounts Offset Due to Master Netting Agreements (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
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)	$ 331	$ 267
Gross Amounts Offset in the Statement of Financial Position	(207)	(163)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	124	104
Financial Instruments	0	0
Cash Collateral Received or Pledged	(28)	(24)
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	$ 96	$ 80
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)	$ (308)	$ (247)
Gross Amounts Offset in the Statement of Financial Position	207	163
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(101)	(84)
Financial Instruments	0	0
Cash Collateral Received or Pledged	3	9
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	(98)	(75)
Total derivative instruments
Gross Amounts of Recognized Assets/(Liabilities)	23	20
Gross Amounts Offset in the Statement of Financial Position	0	0
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	23	20
Financial Instruments	0	0
Cash Collateral Received or Pledged	(25)	(15)
Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position	$ (2)	$ 5

INCOME AND OTHER TAXES	9 Months Ended
INCOME AND OTHER TAXES	Nov. 01, 2024
Income Tax Disclosure [Abstract]
INCOME AND OTHER TAXES	INCOME AND OTHER TAXES For the three months ended November 1, 2024, the Company’s effective income tax rate was 19.0% on pre-tax income of $1.4 billion compared to 14.9% on pre-tax income of $1.2 billion for the three months ended November 3, 2023. For the nine months ended November 1, 2024, the Company’s effective income tax rate was 0.2% on pre-tax income of $2.9 billion compared to 21.6% on pre-tax income of $2.6 billion for the nine months ended November 3, 2023. The changes in the Company’s effective income tax rate were primarily driven by discrete tax items. For the nine months ended November 1, 2024, the Company recorded discrete tax benefits of $0.4 billion related to changes in uncertain tax benefits resulting from the expiration of certain statutes of limitations and $0.2 billion related to stock-based compensation. 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 and 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 November 1, 2024, the Company was not aware of any matters of non-compliance related to these tax holidays. In June 2023, the Company received a Revenue Agent’s Report for the federal income tax examination by the Internal Revenue Service (“IRS”) of fiscal years 2018 through 2019. The IRS proposed adjustments primarily relating to certain transactions the Company completed as part of its business integration efforts. In August 2023, the Company submitted a written protest to the IRS relating to certain assessments. The Company received a rebuttal from the IRS to its written protest in April 2024. The Company disagrees with the IRS’s proposed adjustments and will contest them through the IRS administrative appeals procedures. The Company anticipates that the appeals process for the resolution of these matters will extend beyond the next twelve months. In September 2023, the IRS commenced a federal income tax examination of fiscal years 2020 through 2022. 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 with respect to 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 $1.0 billion and $1.3 billion as of November 1, 2024 and February 2, 2024, respectively, and are included in other non-current liabilities in the Condensed Consolidated Statements of Financial Position. The Company does not anticipate a significant change to the total amount of unrecognized tax benefits within the next twelve months. The Company takes certain non-income tax positions in the jurisdictions in which it operates and has received certain non-income tax assessments from various jurisdictions. The Company believes that a material loss in these non-income tax litigation 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 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 tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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-Topic 740
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-Topic 740
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SEGMENT INFORMATION - Schedule of Disaggregation of Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Disaggregation of Revenue [Line Items]
Total net revenue	$ 24,366	$ 22,251	$ 71,636	$ 66,107
Operating Segments
Disaggregation of Revenue [Line Items]
Total net revenue	23,499	20,775	68,753	61,754
Operating Segments \| Infrastructure Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	11,368	8,499	32,241	24,553
Operating Segments \| Infrastructure Solutions Group \| Servers and networking
Disaggregation of Revenue [Line Items]
Total net revenue	7,364	4,656	20,502	12,767
Operating Segments \| Infrastructure Solutions Group \| Storage
Disaggregation of Revenue [Line Items]
Total net revenue	4,004	3,843	11,739	11,786
Operating Segments \| Client Solutions Group
Disaggregation of Revenue [Line Items]
Total net revenue	12,131	12,276	36,512	37,201
Operating Segments \| Client Solutions Group \| Commercial
Disaggregation of Revenue [Line Items]
Total net revenue	10,138	9,835	30,848	30,251
Operating Segments \| Client Solutions Group \| Consumer
Disaggregation of Revenue [Line Items]
Total net revenue	$ 1,993	$ 2,441	$ 5,664	$ 6,950

- 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

LEASES

9 Months Ended

Nov. 01, 2024

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 November 1, 2024, the remaining terms of the Company’s leases range from one month to approximately eleven years. As of November 1, 2024 and February 2, 2024, 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Operating lease costs	$	75	$	79	$	221	$	221
Variable costs	15		19		48		62
Total lease costs	$	90	$	98	$	269	$	283

During the nine months ended November 1, 2024 and November 3, 2023, 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	November 1, 2024			February 2, 2024

		(in millions, except for term and discount rate)
Operating lease right-of-use assets	Other non-current assets	$	700		$	707

Current operating lease liabilities	Accrued and other current liabilities	$	242		$	253
Non-current operating lease liabilities	Other non-current liabilities	563			576
Total operating lease liabilities		$	805		$	829

Weighted-average remaining lease term (in years)		4.47			4.56
Weighted-average discount rate		5.04		%	4.79		%

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


	Nine Months Ended
	November 1, 2024		November 3, 2023

	(in millions)
Cash paid for amounts included in the measurement of lease liabilities — operating cash outflows from operating leases	$	201	$	220

Right-of-use assets obtained in exchange for new operating lease liabilities	$	165	$	205


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	65
Fiscal 2026	235
Fiscal 2027	201
Fiscal 2028	154
Fiscal 2029	104
Thereafter	133
Total lease payments	892
Less: Imputed interest	87
Total	$	805
Current operating lease liabilities	$	242
Non-current operating lease liabilities	$	563

As of November 1, 2024, the Company’s undiscounted operating leases that had not yet commenced were immaterial.

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Schedule of Changes in Liability for Standard Limited Warranties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Warranty liability:
Warranty liability at beginning of period	$ 439	$ 439	$ 426	$ 467
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties	228	208	673	605
Service obligations honored	(239)	(203)	(671)	(628)
Warranty liability at end of period	$ 428	$ 444	$ 428	$ 444

OVERVIEW AND BASIS OF PRESENTATION (Policies)	9 Months Ended
OVERVIEW AND BASIS OF PRESENTATION (Policies)	Nov. 01, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Entities	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 2, 2024. 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 November 1, 2024 and February 2, 2024 and the results of its operations, corresponding comprehensive income, changes in stockholders’ equity (deficit) for the three and nine months ended November 1, 2024 and November 3, 2023, and its cash flows for the nine months ended November 1, 2024 and November 3, 2023. 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 its operations, corresponding comprehensive income, and changes in stockholders’ equity (deficit) for the three and nine months ended November 1, 2024 and November 3, 2023, and its cash flows for the nine months ended November 1, 2024 and November 3, 2023 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. Both the fiscal year ended February 2, 2024 (“Fiscal 2024”) and the fiscal year ending January 31, 2025 (“Fiscal 2025”) are 52-week periods.
Principles of Consolidation	Principles of Consolidation — These Condensed Consolidated Financial Statements include the accounts of Dell Technologies Inc., 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	The Company also 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.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Expense Disaggregation Disclosures — In November 2024, the Financial Accounting Standards Board (“FASB”) issued guidance to improve disclosures about a public entity’s expenses by requiring disclosure of additional information about the types of expenses commonly presented in the financial statements on an annual and interim basis. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2026, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements. Income Taxes — In December 2023, the FASB issued guidance which requires companies to provide disaggregated income tax disclosures within the income tax rate reconciliation and income taxes paid. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2024, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements. Segment Reporting — In November 2023, the FASB issued guidance to improve disclosures about a public entity’s reportable segments by requiring disclosure of additional information about a reportable segment’s expenses on an annual and interim basis. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2023, with early adoption permitted. Upon adoption, the guidance is required to be applied retrospectively to all prior periods presented in the financial statements. Adoption of this new guidance will result in increased disclosures in the Notes to the Consolidated Financial Statements.
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 November 1, 2024, 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 line items on the Condensed Consolidated Statements of Income 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 and liabilities associated with the plans are measured at fair value using Level 1 inputs. Assets were the same as liabilities associated with the plans at approximately $243 million and $214 million as of November 1, 2024 and February 2, 2024, respectively, and are included in other assets and other liabilities on the Condensed Consolidated Statements of Financial Position. The net impact on 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 financial assets such as the Company’s fixed income debt securities and strategic investments in non-marketable equity and other securities and non-financial assets such as goodwill and intangible assets. Fixed income debt securities are recorded at amortized cost and approximate fair value. The fair value of fixed income debt securities is determined based on observable market prices in a less active market or based on valuation methodologies using observable inputs. If measured at fair value in the Condensed Consolidated Statements of Financial Position, these securities would generally be classified as Level 2 in the fair value hierarchy. See Note 3 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s fixed income debt securities. Strategic investments in non-marketable equity and other securities and certain non-financial assets such as goodwill and intangibles are measured at fair value only if they are deemed to be impaired or when there is an adjustment from observable price changes in the current period. If measured at fair value in the Condensed Consolidated Statements of Financial Position, these securities would generally be classified as Level 3 in the fair value hierarchy. See Note 3 and Note 8 of the Notes to the Condensed Consolidated Financial Statements for additional information about the Company’s investments and goodwill and intangible assets, respectively.

FAIR VALUE MEASUREMENTS - Schedule of Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Assets:
Marketable equity and other securities	$ 6	$ 10
Derivative instruments	124	104
Total assets	2,141	3,284
Liabilities:
Derivative instruments	101	84
Total liabilities	101	84
Level 1
Assets:
Marketable equity and other securities	6	10
Derivative instruments	0	0
Total assets	2,017	3,180
Liabilities:
Derivative instruments	0	0
Total liabilities	0	0
Level 2
Assets:
Marketable equity and other securities	0	0
Derivative instruments	124	104
Total assets	124	104
Liabilities:
Derivative instruments	101	84
Total liabilities	101	84
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	2,011	3,170
Money market funds \| Level 1
Assets:
Money market funds	2,011	3,170
Money market funds \| Level 2
Assets:
Money market funds	0	0
Money market funds \| Level 3
Assets:
Money market funds	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 62	$ 71
Short-term financing receivables, allowance	74	79
Long-term financing receivables, allowance	$ 70	$ 91
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

DEBT - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Debt Instrument [Line Items]
Total debt, principal amount	$ 25,252	$ 26,222
Unamortized discount, net of unamortized premium	(113)	(114)
Debt issuance costs	(117)	(114)
Total debt, carrying value	25,022	25,994
Total short-term debt, carrying value	5,612	6,982
Total long-term debt, carrying value	19,410	19,012
Other
Debt Instrument [Line Items]
Total debt, principal amount	56	171
Senior Notes \| Unsecured Debt
Debt Instrument [Line Items]
Total debt, principal amount	15,073	15,607
Legacy Notes \| Unsecured Debt
Debt Instrument [Line Items]
Total debt, principal amount	952	952
DFS Debt \| Secured Debt
Debt Instrument [Line Items]
Total debt, principal amount	9,171	9,492
Total short-term debt, carrying value	5,582	5,863
Total long-term debt, carrying value	$ 3,589	$ 3,629

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Restructuring Cost and Reserve [Line Items]
Accounts payable	$ 23,400	$ 19,389
Supply Chain Finance Program \| Third-Party Financial Institution
Restructuring Cost and Reserve [Line Items]
Accounts payable	$ 1,400	$ 1,100

- 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	9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023
Receivables [Abstract]
Financing receivables sold	$ 75	$ 205

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Current assets:
Cash and cash equivalents	$ 5,225	$ 7,366
Accounts receivable, net of allowance of $62 and $71	11,189	9,343
Short-term financing receivables, net of allowance of $74 and $79 (Note 4)	5,001	4,643
Inventories	6,652	3,622
Other current assets	9,306	10,973
Current assets held for sale	662	0
Total current assets	38,035	35,947
Property, plant, and equipment, net	6,327	6,432
Long-term investments	1,312	1,316
Long-term financing receivables, net of allowance of $70 and $91 (Note 4)	5,849	5,877
Goodwill	19,243	19,700
Intangible assets, net	5,147	5,701
Other non-current assets	6,038	7,116
Total assets	81,951	82,089
Current liabilities:
Short-term debt	5,612	6,982
Accounts payable	23,400	19,389
Accrued and other	6,490	6,805
Short-term deferred revenue	13,787	15,318
Current liabilities held for sale	211	0
Total current liabilities	49,500	48,494
Long-term debt	19,410	19,012
Long-term deferred revenue	12,424	13,827
Other non-current liabilities	2,807	3,065
Total liabilities	84,141	84,398
Commitments and contingencies (Note 10)
Stockholders’ equity (deficit):
Common stock and capital in excess of $0.01 par value (Note 13)	8,951	8,926
Treasury stock at cost	(7,747)	(5,900)
Accumulated deficit	(2,669)	(4,630)
Accumulated other comprehensive loss	(820)	(800)
Total Dell Technologies Inc. stockholders’ equity (deficit)	(2,285)	(2,404)
Non-controlling interests	95	95
Total stockholders’ equity (deficit)	(2,190)	(2,309)
Total liabilities and stockholders’ equity	$ 81,951	$ 82,089

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details)	9 Months Ended
	Nov. 01, 2024
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

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Nov. 01, 2024

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 Secureworks, VMware Resale, and Virtustream, each of which represents a separate reporting unit.

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 2, 2024	$	15,041	$	4,232	$	427	$	19,700

Impact of foreign currency translation and other	(30)		—		—		(30)

Reclassification to assets held for sale (a)	—		—		(427)		(427)


Balances as of November 1, 2024	$	15,011	$	4,232	$	—	$	19,243

____________________

Intangible Assets

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


	November 1, 2024						February 2, 2024
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net

	(in millions)
Customer relationships	$	16,642	$	(14,921)	$	1,721	$	16,968	$	(14,930)	$	2,038
Developed technology	9,501		(9,154)		347		9,506		(8,980)		526
Trade names	875		(851)		24		875		(823)		52

Definite-lived intangible assets	27,018		(24,926)		2,092		27,349		(24,733)		2,616
Indefinite-lived trade names	3,055		—		3,055		3,085		—		3,085
Total intangible assets	$	30,073	$	(24,926)	$	5,147	$	30,434	$	(24,733)	$	5,701

Amortization expense related to definite-lived intangible assets was $163 million and $205 million for the three months ended November 1, 2024 and November 3, 2023, respectively, and $491 million and $613 million for the nine months ended November 1, 2024 and November 3, 2023, respectively. There were no material impairment charges related to intangible assets during the three or nine months ended November 1, 2024 and November 3, 2023.

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


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	160
Fiscal 2026	480
Fiscal 2027	372
Fiscal 2028	230
Fiscal 2029	190
Thereafter	660
Total	$	2,092

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 of the Infrastructure Solutions Group (“ISG”) and Client Solutions Group (“CSG”) reporting units during the third quarter of Fiscal 2025, 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. For the remaining reporting units, the Company performed a qualitative assessment of goodwill at the reporting unit level. The qualitative assessment included consideration of the relevant events and circumstances affecting the reporting unit, including macroeconomic, industry and market conditions, overall financial performance, and trends in the public company market valuation, where applicable. Additionally, Secureworks’ entry into a definitive agreement, pursuant to which Secureworks will be acquired in an all-cash transaction for approximately $0.9 billion, as discussed in Note 1 of the Notes to the Condensed Consolidated Financial Statements, provided a fair value indication that the Secureworks reporting unit exceeded its carrying value.

Management exercised significant judgment related to the above assessments, including the identification of goodwill reporting units, assignment of assets and liabilities to goodwill reporting units, assignment of goodwill to reporting units, and determination of the fair value of each goodwill reporting unit. For the quantitative goodwill impairment test, 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 the 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 the three months ended November 1, 2024, 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 nine months ended November 1, 2024 other than the Company’s annual impairment review and the assessment of Secureworks.

LEASES - Schedule of Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Leases [Abstract]
Operating lease right-of-use assets	$ 700	$ 707
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Current operating lease liabilities	$ 242	$ 253
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other	Accrued and other
Non-current operating lease liabilities	$ 563	$ 576
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Total operating lease liabilities	$ 805	$ 829
Weighted-average remaining lease term (in years)	4 years 5 months 19 days	4 years 6 months 21 days
Weighted-average discount rate	5.04%	4.79%

INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Investments	$ 1,400	$ 1,600
Fixed Income Securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Debt securities, held to maturity, amortized cost	61	$ 301
Mature within one year	60
Mature in two to five years	$ 1

- 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 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
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+ Details

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Billions	Oct. 21, 2024 USD ($)
Held-for-sale \| SecureWorks
Goodwill [Line Items]
Disposal group, including discontinued operation, consideration	$ 0.9

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024		February 2, 2024

	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	5,225	$	7,366
Cash and cash equivalents — held for sale (a)	53		—
Restricted cash — other current assets (b)	122		136
Restricted cash — other non-current assets (b)	4		5
Total cash, cash equivalents, and restricted cash	$	5,404	$	7,507
Inventories:
Production materials	$	4,538	$	2,321
Work-in-process	1,013		607
Finished goods	1,101		694
Total inventories	$	6,652	$	3,622


Deferred costs:
Total deferred costs, current (c)	$	4,282	$	5,548
Property, plant, and equipment, net:
Assets in a customer contract	$	5,270	$	5,022
Computer and other equipment	3,383		3,552
Land and buildings	2,816		2,877
Internal use software	2,336		2,166
Total property, plant, and equipment	13,805		13,617
Accumulated depreciation and amortization	(7,478)		(7,185)
Total property, plant, and equipment, net	$	6,327	$	6,432

____________________

(a) Held for sale represents the reclassification of Secureworks cash and cash equivalents to assets held for sale. See Note 1 of the Notes to the Condensed Consolidated Financial Statements for more information about the pending sale of Secureworks.

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

(c) 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	439	$	439	$	426	$	467
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a)	228		208		673		605
Service obligations honored	(239)		(203)		(671)		(628)
Warranty liability at end of period	$	428	$	444	$	428	$	444

____________________

(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 within 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Severance liability:
Severance liability at beginning of period	$	392	$	457	$	352	$	408
Severance charges	145		22		565		434
Cash paid and other	(296)		(277)		(676)		(640)
Severance liability at end of period	$	241	$	202	$	241	$	202

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


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Severance charges:
Cost of net revenue	$	31	$	7	$	116	$	54
Selling, general, and administrative	71		14		341		365
Research and development	43		1		108		15
Total severance charges	$	145	$	22	$	565	$	434

Supply Chain Finance Program

The Company maintains a Supply Chain Finance Program (the “SCF Program”), which enables eligible suppliers, 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, no economic interest in a supplier's decision to sell a receivable, and does not provide legally secured 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, regardless of whether an individual invoice is sold by the supplier to the financial institution. As of November 1, 2024 and February 2, 2024, the Company had $1.4 billion and $1.1 billion, respectively, included within accounts payable on the Condensed Consolidated Statements of Financial Position 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 as included in the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Interest and other, net:
Investment income, primarily interest	$	35	$	88	$	127	$	213
Gain (loss) on investments, net	46		8		21		(36)
Interest expense	(321)		(371)		(1,051)		(1,128)
Foreign exchange	(29)		(30)		(80)		(127)



Other	(7)		(1)		(19)		(43)
Total interest and other, net	$	(276)	$	(306)	$	(1,002)	$	(1,121)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Nov. 01, 2024

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax

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 2, 2024	$	(755)	$	(30)	$	(15)	$	(800)
Other comprehensive income (loss) before reclassifications	(95)		58		1		(36)
Amounts reclassified from accumulated other comprehensive income (loss)	—		17		(1)		16
Total change for the period	(95)		75		—		(20)

Balances as of November 1, 2024	$	(850)	$	45	$	(15)	$	(820)

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax

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
	November 1, 2024		November 3, 2023
	Cash Flow Hedges		Pensions		Total		Cash Flow Hedges		Pensions		Total

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(57)	$	—	$	(57)	$	83	$	—	$	83
Cost of net revenue	3		—		3		1		—		1
Operating expenses	—		—		—		—		—		—


Total reclassifications, net of tax	$	(54)	$	—	$	(54)	$	84	$	—	$	84


	Nine Months Ended
	November 1, 2024		November 3, 2023
	Cash Flow Hedges		Pensions		Total		Cash Flow Hedges		Pensions		Total

	(in millions)
Total reclassifications, net of tax:
Net revenue	$	(25)	$	—	$	(25)	$	(68)	$	—	$	(68)
Cost of net revenue	8		—		8		(7)		—		(7)
Operating expenses	—		1		1		—		—		—


Total reclassifications, net of tax	$	(17)	$	1	$	(16)	$	(75)	$	—	$	(75)

COMMITMENTS AND CONTINGENCIES (Details) $ in Billions		1 Months Ended	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Billions	Dec. 28, 2018 USD ($) shares	Nov. 30, 2022 patent	Feb. 03, 2023 USD ($)	Nov. 01, 2024 USD ($)
Loss Contingencies [Line Items]
Purchase obligation, fiscal 2025				$ 6.4
Purchase obligation, fiscal 2026				0.5
Purchase obligation, fiscal 2027 and thereafter				$ 1.2
Class V Transaction Class Action Case
Loss Contingencies [Line Items]
Cash	$ 14.0
Shares issued (in shares) \| shares	149,387,617
Class V Transaction Class Action Case \| Settled Litigation
Loss Contingencies [Line Items]
Amount awarded to other party			$ 1.0
R2 Semiconductor Patent Litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed \| patent		1

RELATED PARTY TRANSACTIONS

9 Months Ended

Nov. 01, 2024

RELATED PARTY TRANSACTIONS

Prior to the acquisition on November 22, 2023 of VMware LLC (previously VMware, Inc. and individually and together with its consolidated subsidiaries, “VMware”) by Broadcom Inc. (“Broadcom”), VMware was considered a related party of the Company. Upon Broadcom’s acquisition of VMware, Michael Dell’s ownership interest in VMware and his position as Chairman of the Board of VMware terminated, and the Company determined no related party relationship exists with Broadcom or VMware effective as of November 22, 2023. The Company continues to engage in select transactions with VMware following the completion of Broadcom’s acquisition and the termination of the related party relationship. See Note 16 of the Notes to the Condensed Consolidated Financial Statements for additional information.

Related Party Transactions with VMware

The information provided below includes a summary of related party transactions with VMware for the three and nine months ended November 3, 2023.

•Dell Technologies integrated or bundled select VMware products and services with Dell Technologies’ products and sold them to end-users. Dell Technologies also acted as a distributor, purchasing VMware’s standalone products and services for resale to end-user customers. Where applicable, costs under these arrangements were presented net of rebates received by Dell Technologies.

•DFS provided financing to certain VMware end-users, which resulted in the recognition of amounts due to related parties on the Condensed Consolidated Statements of Financial Position. Associated financing fees were recorded to product net revenue on the Condensed Consolidated Statements of Income and were reflected within sales and leases of products to VMware in the table below.

•Dell Technologies procured products and services from VMware for its internal use. For the three and nine months ended November 3, 2023, costs incurred associated with products and services purchased from VMware for internal use were immaterial.

•Dell Technologies sold and leased products and sold services to VMware. For the three and nine months ended November 3, 2023, revenue recognized from sales of services to VMware was immaterial.

•Dell Technologies and VMware entered into joint marketing, sales, and branding arrangements, for which both parties incurred costs. For the three and nine months ended November 3, 2023, consideration received from VMware for joint marketing, sales, and branding arrangements was immaterial.


		Three Months Ended		Nine Months Ended
	Classification	November 3, 2023		November 3, 2023

		(in millions)
Sales and leases of products to VMware	Net revenue — products	$	16	$	94
Purchase of VMware products for resale	Cost of net revenue — products	$	379	$	970
Purchase of VMware services for resale	Cost of net revenue — services	$	884	$	2,640

In connection with the completion of the VMware Spin-off described in Note 10 of the Notes to the Condensed Consolidated Financial Statements, Dell Technologies and VMware entered into a Tax Matters Agreement effective as of April 14, 2021 (the “Tax Matters Agreement”), which governs the respective rights and obligations of Dell Technologies and VMware regarding income and other taxes as well as related matters, including tax liabilities and benefits, attributes, and returns for periods both preceding and following the VMware Spin-off. Pursuant to the Tax Matters Agreement, net receipts from VMware during the nine months ended November 3, 2023 were immaterial.

Other Related Parties

Transactions with other related parties during the periods presented were immaterial, individually and in aggregate.

- 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
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

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

+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Schedule of Severance Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Restructuring Cost and Reserve [Line Items]
Total severance charges	$ 145	$ 22	$ 565	$ 434
Cost of net revenue
Restructuring Cost and Reserve [Line Items]
Total severance charges	31	7	116	54
Selling, general, and administrative
Restructuring Cost and Reserve [Line Items]
Total severance charges	71	14	341	365
Research and development
Restructuring Cost and Reserve [Line Items]
Total severance charges	$ 43	$ 1	$ 108	$ 15

- 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 - Schedule of Carrying Value of Equity and Other Securities (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Marketable
Cost	$ 12	$ 12
Unrealized Gain	26	24
Unrealized Loss	(32)	(26)
Carrying Value	6	10
Non-marketable
Cost	702	732
Unrealized Gain	863	1,015
Unrealized Loss	(260)	(454)
Carrying Value	1,305	1,293
Total equity and other securities
Cost	714	744
Unrealized Gain	889	1,039
Unrealized Loss	(292)	(480)
Carrying Value	$ 1,311	$ 1,303

FINANCIAL SERVICES - Schedule of Changes in the Allowance for Financing Receivables Losses (Details) - Customer Financing Receivables - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	$ 166	$ 149	$ 170	$ 201
Charge-offs, net of recoveries	(38)	(7)	(65)	(42)
Provision charged to income statement	16	11	39	68
Other			0	(74)
Balances at end of period	144	153	144	153
Revolving
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	8	9	9	88
Charge-offs, net of recoveries	(3)	(4)	(9)	(37)
Provision charged to income statement	2	4	7	32
Other			0	(74)
Balances at end of period	7	9	7	9
Fixed-term
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balances at beginning of period	158	140	161	113
Charge-offs, net of recoveries	(35)	(3)	(56)	(5)
Provision charged to income statement	14	7	32	36
Other			0	0
Balances at end of period	$ 137	$ 144	$ 137	$ 144

- Definition

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

+ References + Details

DEFERRED REVENUE

9 Months Ended

Nov. 01, 2024

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	27,712	$	30,312	$	29,145	$	30,286
Revenue deferrals	3,897		4,492		13,286		15,236
Revenue recognized	(5,262)		(5,766)		(16,084)		(16,484)
Other (a)	(136)		15		(136)		15
Deferred revenue at end of period	$	26,211	$	29,053	$	26,211	$	29,053
Short-term deferred revenue	$	13,787	$	15,206	$	13,787	$	15,206
Long-term deferred revenue	$	12,424	$	13,847	$	12,424	$	13,847

____________________

(a) For the three and nine months ended November 1, 2024, Other represents the reclassification of Secureworks deferred revenue to liabilities held for sale. See Note 1 of the Notes to the Condensed Consolidated Financial Statements for more information about the pending sale of Secureworks.

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 November 1, 2024 was approximately $37 billion. The Company expects to recognize approximately 60% 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
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

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

+ Details

FINANCIAL SERVICES - DFS Debt (Narrative) (Details) $ in Millions	Jun. 13, 2024 EUR (€)	Oct. 18, 2022 EUR (€)	May 25, 2022 USD ($)	Oct. 27, 2021 EUR (€)	Nov. 01, 2024 USD ($) tranche facility
Note payable
Debt Instrument [Line Items]
Aggregate principal amount			$ 250
Note payable \| Mexico, Pesos
Debt Instrument [Line Items]
Basis spread on variable rate			4.24%
Secured Debt \| Asset-based financing facility \| Finance Leases and Revolving Loan Portfolio Segments \| UNITED STATES
Debt Instrument [Line Items]
Number of tranches \| tranche					2
Total debt capacity					$ 5,000
Secured Debt \| Fixed-term securitization offerings \| Minimum
Debt Instrument [Line Items]
Interest rate					4.14%
Secured Debt \| Fixed-term securitization offerings \| Maximum
Debt Instrument [Line Items]
Interest rate					6.80%
Secured Debt \| Securitization facility \| Finance Leases and Revolving Loan Portfolio Segments \| Non-US
Debt Instrument [Line Items]
Total debt capacity					$ 871
Secured Debt \| Other borrowings \| Canada
Debt Instrument [Line Items]
Total debt capacity					323
Secured Debt \| Other borrowings \| Europe
Debt Instrument [Line Items]
Total debt capacity					544
Secured Debt \| Other borrowings \| Australia and New Zealand
Debt Instrument [Line Items]
Total debt capacity					296
Secured Debt \| Other borrowings \| Middle East
Debt Instrument [Line Items]
Total debt capacity					150
Secured Debt \| Other borrowings \| SINGAPORE
Debt Instrument [Line Items]
Total debt capacity					$ 250
Line of credit facility, number of credit agreements \| facility					2
Unsecured Debt \| Dell Bank senior unsecured eurobonds
Debt Instrument [Line Items]
Interest rate	3.60%	4.50%		0.50%
Aggregate principal amount \| €	€ 500,000,000	€ 500,000,000		€ 500,000,000
Debt instrument, term	5 years	5 years		5 years

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION (Tables)

9 Months Ended

Nov. 01, 2024

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:


	November 1, 2024		February 2, 2024

	(in millions)
Cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	5,225	$	7,366
Cash and cash equivalents — held for sale (a)	53		—
Restricted cash — other current assets (b)	122		136
Restricted cash — other non-current assets (b)	4		5
Total cash, cash equivalents, and restricted cash	$	5,404	$	7,507
Inventories:
Production materials	$	4,538	$	2,321
Work-in-process	1,013		607
Finished goods	1,101		694
Total inventories	$	6,652	$	3,622


Deferred costs:
Total deferred costs, current (c)	$	4,282	$	5,548
Property, plant, and equipment, net:
Assets in a customer contract	$	5,270	$	5,022
Computer and other equipment	3,383		3,552
Land and buildings	2,816		2,877
Internal use software	2,336		2,166
Total property, plant, and equipment	13,805		13,617
Accumulated depreciation and amortization	(7,478)		(7,185)
Total property, plant, and equipment, net	$	6,327	$	6,432

____________________

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

Schedule of Changes in Liability for Standard Limited Warranties

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


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Warranty liability:
Warranty liability at beginning of period	$	439	$	439	$	426	$	467
Costs accrued for new warranty contracts and changes in estimates for pre-existing warranties (a)	228		208		673		605
Service obligations honored	(239)		(203)		(671)		(628)
Warranty liability at end of period	$	428	$	444	$	428	$	444

____________________

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Severance liability:
Severance liability at beginning of period	$	392	$	457	$	352	$	408
Severance charges	145		22		565		434
Cash paid and other	(296)		(277)		(676)		(640)
Severance liability at end of period	$	241	$	202	$	241	$	202

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Severance charges:
Cost of net revenue	$	31	$	7	$	116	$	54
Selling, general, and administrative	71		14		341		365
Research and development	43		1		108		15
Total severance charges	$	145	$	22	$	565	$	434

Schedule of Interest and Other, Net

The following table presents information regarding interest and other, net as included in the Condensed Consolidated Statements of Income for the periods indicated:


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Interest and other, net:
Investment income, primarily interest	$	35	$	88	$	127	$	213
Gain (loss) on investments, net	46		8		21		(36)
Interest expense	(321)		(371)		(1,051)		(1,128)
Foreign exchange	(29)		(30)		(80)		(127)



Other	(7)		(1)		(19)		(43)
Total interest and other, net	$	(276)	$	(306)	$	(1,002)	$	(1,121)

FINANCIAL SERVICES - Schedule of Customer Receivables, Gross, Including Accrued Interest, by Credit Quality Indicator, Segregated by Class (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	$ 10,825	$ 10,533
Fixed-term
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	3,793	5,075
Fiscal year before current fiscal year	3,615	3,359
Two years before current fiscal year	2,306	1,310
Three years before current fiscal year	725	511
Four years before current fiscal year	238	104
Years Prior	22	1
Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	126	173
Higher
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	6,267	6,529
Higher \| Fixed-term
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,555	3,261
Fiscal year before current fiscal year	2,440	1,979
Two years before current fiscal year	1,560	833
Three years before current fiscal year	515	345
Four years before current fiscal year	158	64
Years Prior	14	0
Higher \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	25	47
Mid
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	2,061	2,467
Mid \| Fixed-term
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	733	1,111
Fiscal year before current fiscal year	710	911
Two years before current fiscal year	432	290
Three years before current fiscal year	122	86
Four years before current fiscal year	22	19
Years Prior	5	0
Mid \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	37	50
Lower
Financing Receivable, Credit Quality Indicator [Line Items]
Total customer receivables, gross	2,497	1,537
Lower \| Fixed-term
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,505	703
Fiscal year before current fiscal year	465	469
Two years before current fiscal year	314	187
Three years before current fiscal year	88	80
Four years before current fiscal year	58	21
Years Prior	3	1
Lower \| Revolving
Financing Receivable, Credit Quality Indicator [Line Items]
Financing receivable, revolving	$ 64	$ 76

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Schedule of Interest and Other, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Interest and other, net:
Investment income, primarily interest	$ 35	$ 88	$ 127	$ 213
Gain (loss) on investments, net	46	8	21	(36)
Interest expense	(321)	(371)	(1,051)	(1,128)
Foreign exchange	(29)	(30)	(80)	(127)
Other	(7)	(1)	(19)	(43)
Total interest and other, net	$ (276)	$ (306)	$ (1,002)	$ (1,121)

SEGMENT INFORMATION

9 Months Ended

Nov. 01, 2024

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 includes the Company’s storage, server, and networking offerings. The Company’s comprehensive storage portfolio includes modern and traditional storage solutions, including all-flash arrays, scale-out file, object platforms, hyper-converged infrastructure, and software-defined storage. The Company’s server portfolio includes high-performance general-purpose and AI-optimized servers. The Company’s networking portfolio includes wide area network infrastructure, data center and edge networking switches, and cables and optics. ISG also offers software, peripherals, and services, including consulting and support and deployment.

CSG includes offerings designed for commercial and consumer customers. The Company’s CSG portfolio includes branded PCs, including notebooks, desktops, and workstations, branded peripherals, and third-party software and peripherals. CSG also includes services offerings, such as configuration, support and deployment, and extended warranties.

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, amortization of intangible assets, 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.

Following its acquisition by Broadcom on November 22, 2023, VMware announced changes to its go-to-market approach for VMware offerings that impacted the Company’s commercial relationship with VMware. On March 25, 2024, the Company terminated the Commercial Framework Agreement with VMware, which provided the framework pursuant to which the Company and VMware continued the commercial relationship following the VMware Spin-off and under which Dell Technologies acted as a distributor of Broadcom’s VMware stand-alone products and services and purchased such products and services for resale to end-user customers (“VMware Resale”). Dell Technologies no longer acts as a distributor of VMware’s standalone products and services, though the Company will continue to support customers that have purchased resale offerings sold in prior periods. The results of VMware Resale transactions are reflected in other businesses. The Company continues to integrate and embed certain VMware products and services with select Dell Technologies’ offerings to end-users. The results of such offerings are reflected within CSG or ISG, depending upon the nature of the underlying offering sold.

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	11,368	$	8,499	$	32,241	$	24,553
Client Solutions Group	12,131		12,276		36,512		37,201
Reportable segment net revenue	23,499		20,775		68,753		61,754
Other businesses (a)	867		1,474		2,882		4,345
Unallocated transactions (b)	—		2		1		8
Total consolidated net revenue	$	24,366	$	22,251	$	71,636	$	66,107

Consolidated operating income:
Infrastructure Solutions Group	$	1,508	$	1,069	$	3,528	$	2,858
Client Solutions Group	694		925		2,193		2,786
Reportable segment operating income	2,202		1,994		5,721		5,644
Other businesses (a)	(3)		(32)		(14)		(112)
Unallocated transactions (b)	—		2		—		7

Amortization of intangibles (c)	(168)		(207)		(504)		(623)

Stock-based compensation expense (d)	(198)		(227)		(599)		(675)
Other corporate expenses (e)	(165)		(44)		(674)		(521)
Total consolidated operating income	$	1,668	$	1,486	$	3,930	$	3,720

____________________

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

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

(e)Other corporate expenses includes severance expenses, payroll taxes associated with stock-based compensation, facility action costs, transaction-related expenses, impairment charges, incentive charges related to equity investments, 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	7,364	$	4,656	$	20,502	$	12,767
Storage	4,004		3,843		11,739		11,786
Total ISG net revenue	$	11,368	$	8,499	$	32,241	$	24,553
Client Solutions Group:
Commercial	$	10,138	$	9,835	$	30,848	$	30,251
Consumer	1,993		2,441		5,664		6,950
Total CSG net revenue	$	12,131	$	12,276	$	36,512	$	37,201

- 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.

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+ Details

FINANCIAL SERVICES - Schedule of Future Maturity of Fixed-Term Customer Leases (Details) $ in Millions	Nov. 01, 2024 USD ($)
Lessor, Lease, Description [Line Items]
Fiscal 2025 (remaining three months)	$ 871
Fiscal 2026	3,114
Fiscal 2027	2,085
Fiscal 2028	793
Fiscal 2029 and beyond	454
Total undiscounted cash flows	7,317
Total customer receivables, gross	10,825
Less: Unearned income	(1,084)
Fixed-term loans
Lessor, Lease, Description [Line Items]
Total customer receivables, gross	4,466
Revolving loans
Lessor, Lease, Description [Line Items]
Total customer receivables, gross	$ 126

FINANCIAL SERVICES - Schedule of Components of Operating Lease Portfolio Included in Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Receivables [Abstract]
Equipment under operating lease, gross	$ 4,188	$ 4,002
Less: Accumulated depreciation	(1,971)	(1,800)
Equipment under operating lease, net	$ 2,217	$ 2,202

OVERVIEW AND BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Millions	Oct. 04, 2023	Nov. 01, 2024	Oct. 21, 2024	Aug. 02, 2024	Feb. 02, 2024	Nov. 03, 2023	Aug. 04, 2023	Feb. 03, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)		$ (2,190)		$ (2,797)	$ (2,309)	$ (2,570)	$ (2,677)	$ (3,025)
Revolving
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash transaction	$ 390
Held-for-sale \| SecureWorks
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Disposal group, including discontinued operation, consideration			$ 900
Non-Controlling Interests
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)		$ 95		$ 97	$ 95	$ 94	$ 95	$ 97
SecureWorks
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Outstanding equity interest held (as a percent)		78.70%			81.00%
SecureWorks \| Non-Controlling Interests
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total stockholders’ equity (deficit)		$ 95			$ 95

GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023	Feb. 02, 2024
Goodwill [Line Items]
Gross	$ 27,018,000,000		$ 27,018,000,000		$ 27,349,000,000
Accumulated Amortization	(24,926,000,000)		(24,926,000,000)		(24,733,000,000)
Total	2,092,000,000		2,092,000,000		2,616,000,000
Total intangible assets	30,073,000,000		30,073,000,000		30,434,000,000
Intangible assets, net	5,147,000,000		5,147,000,000		5,701,000,000
Amortization expense	163,000,000	$ 205,000,000	491,000,000	$ 613,000,000
Impairment charges	0	$ 0	0	$ 0
Trade names
Goodwill [Line Items]
Indefinite-lived trade names	3,055,000,000		3,055,000,000		3,085,000,000
Customer relationships
Goodwill [Line Items]
Gross	16,642,000,000		16,642,000,000		16,968,000,000
Accumulated Amortization	(14,921,000,000)		(14,921,000,000)		(14,930,000,000)
Total	1,721,000,000		1,721,000,000		2,038,000,000
Developed technology
Goodwill [Line Items]
Gross	9,501,000,000		9,501,000,000		9,506,000,000
Accumulated Amortization	(9,154,000,000)		(9,154,000,000)		(8,980,000,000)
Total	347,000,000		347,000,000		526,000,000
Trade names
Goodwill [Line Items]
Gross	875,000,000		875,000,000		875,000,000
Accumulated Amortization	(851,000,000)		(851,000,000)		(823,000,000)
Total	$ 24,000,000		$ 24,000,000		$ 52,000,000

OVERVIEW AND BASIS OF PRESENTATION (Tables)

9 Months Ended

Nov. 01, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Disposal Group

The following table presents the major classes of assets and liabilities as of November 1, 2024 related to Secureworks, which were classified as held for sale as of the date indicated:


	November 1, 2024
	(in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	53
Accounts receivable, net	47
Other current assets	15
Total current assets	115
Goodwill	427
Intangible assets, net	63
Other non-current assets	57
Total assets	$	662
LIABILITIES
Current liabilities:
Accrued and other	$	58
Short-term deferred revenue	125
Total current liabilities	183
Other non-current liabilities	28
Total liabilities	$	211

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - Related Party - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Products
Related party cost of net revenue	$ 0	$ 379	$ 0	$ 970
Services
Related party cost of net revenue	$ 0	$ 884	$ 0	$ 2,640

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Instruments Designated as Cash Flow Hedging Instruments and Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	$ (9)	$ 171	$ 58	$ 230
Gain (Loss) Reclassified from Accumulated OCI into Income	(54)	84	(17)	(75)
Effect on the consolidated statement of income	19	(112)	(37)	(92)
Total net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	(57)	83	(25)	(68)
Total cost of net revenue
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from Accumulated OCI into Income	3	1	8	(7)
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Accumulated OCI, Net of Tax, on Derivatives	(9)	171	58	230
Foreign Exchange Contract \| Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Effect on the consolidated statement of income	(13)	(114)	(58)	(97)
Interest Rate Contract \| Interest and other, net
Derivative Instruments, Gain (Loss) [Line Items]
Effect on the consolidated statement of income	$ 32	$ 2	$ 21	$ 5

CAPITALIZATION (Tables)

9 Months Ended

Nov. 01, 2024

Equity [Abstract]

Schedule of Authorized, Issued, and Outstanding Common 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 November 1, 2024
Class A	600	302	302
Class B	200	66	66
Class C	7,900	466	334
Class D	100	—	—

	8,800	834	702

Common stock as of February 2, 2024
Class A	600	353	353
Class B	200	86	86
Class C	7,900	382	266
Class D	100	—	—

	8,800	821	705

Schedule of Dividends Paid

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 2025
May 3, 2024	February 29, 2024	April 23, 2024	May 3, 2024	$	0.445	$	316
August 2, 2024	June 11, 2024	July 23, 2024	August 2, 2024	$	0.445	$	314
November 1, 2024	September 18, 2024	October 22, 2024	November 1, 2024	$	0.445	$	312


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
November 3, 2023	September 28, 2023	October 24, 2023	November 3, 2023	$	0.37	$	266

- 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.

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+ Details

SUPPLEMENTAL CONSOLIDATED FINANCIAL INFORMATION - Schedule of Activity Related to Severance Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Severance liability:
Severance liability at beginning of period	$ 392	$ 457	$ 352	$ 408
Severance charges	145	22	565	434
Cash paid and other	(296)	(277)	(676)	(640)
Severance liability at end of period	$ 241	$ 202	$ 241	$ 202

FINANCIAL SERVICES - Schedule of Net Revenue, Cost of Net Revenue, and Gross Margin Recognized (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Receivables [Abstract]
Net revenue — products	$ 401	$ 227	$ 1,751	$ 766
Cost of net revenue — products	333	176	1,488	564
Gross margin — products	$ 68	$ 51	$ 263	$ 202

DEFERRED REVENUE (Tables)

9 Months Ended

Nov. 01, 2024

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Deferred revenue:
Deferred revenue at beginning of period	$	27,712	$	30,312	$	29,145	$	30,286
Revenue deferrals	3,897		4,492		13,286		15,236
Revenue recognized	(5,262)		(5,766)		(16,084)		(16,484)
Other (a)	(136)		15		(136)		15
Deferred revenue at end of period	$	26,211	$	29,053	$	26,211	$	29,053
Short-term deferred revenue	$	13,787	$	15,206	$	13,787	$	15,206
Long-term deferred revenue	$	12,424	$	13,847	$	12,424	$	13,847

____________________

INCOME AND OTHER TAXES (Details) - USD ($) $ in Billions	3 Months Ended		9 Months Ended
INCOME AND OTHER TAXES (Details) - USD ($) $ in Billions	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023	Feb. 02, 2024
Income Tax Disclosure [Abstract]
Effective income tax rate	19.00%	14.90%	0.20%	21.60%
Income before income taxes	$ 1.4	$ 1.2	$ 2.9	$ 2.6
Unrecognized tax benefits, reduction resulting from lapse of applicable statute of limitations			0.4
Stock-based compensation benefit on effective income tax rate			0.2
Unrecognized tax benefits	$ 1.0		$ 1.0		$ 1.3

DEFERRED REVENUE - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023	Feb. 02, 2024
Deferred revenue:
Deferred revenue at beginning of period	$ 27,712	$ 30,312	$ 29,145	$ 30,286
Revenue deferrals	3,897	4,492	13,286	15,236
Revenue recognized	(5,262)	(5,766)	(16,084)	(16,484)
Other	(136)	15	(136)	15
Deferred revenue at end of period	26,211	29,053	26,211	29,053
Short-term deferred revenue	13,787	15,206	13,787	15,206	$ 15,318
Long-term deferred revenue	$ 12,424	$ 13,847	$ 12,424	$ 13,847	$ 13,827

INVESTMENTS (Tables)

9 Months Ended

Nov. 01, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of 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 and other securities as of the dates indicated:


	November 1, 2024								February 2, 2024
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Marketable	$	12	$	26	$	(32)	$	6	$	12	$	24	$	(26)	$	10
Non-marketable	702		863		(260)		1,305		732		1,015		(454)		1,293
Total equity and other securities	$	714	$	889	$	(292)	$	1,311	$	744	$	1,039	$	(480)	$	1,303

Schedule of 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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Marketable securities:
Unrealized gain	$	3	$	—	$	3	$	1
Unrealized loss	—		—		(6)		(23)
Net unrealized gain (loss)	3		—		(3)		(22)

Non-marketable securities:
Unrealized gain	7		6		7		15
Unrealized loss	—		(3)		(31)		(49)
Net unrealized gain (loss) (a) (b)	7		3		(24)		(34)

Net unrealized gain (loss) on equity and other securities	$	10	$	3	$	(27)	$	(56)

____________________

(a) For the three months ended November 1, 2024 and November 3, 2023, net gains on non-marketable securities are primarily due to upward adjustments for observable price changes. For the three months ended November 3, 2023, these were partially offset by losses due to impairments.

(b) For the nine months ended November 1, 2024, net unrealized losses on non-marketable securities are primarily attributable to downward adjustments for observable price changes. For the nine months ended November 3, 2023, net unrealized losses on non-marketable securities were primarily attributable to impairments.

SEGMENT INFORMATION (Tables)

9 Months Ended

Nov. 01, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Revenue by Reportable Segments to Consolidated Net Revenue


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Consolidated net revenue:
Infrastructure Solutions Group	$	11,368	$	8,499	$	32,241	$	24,553
Client Solutions Group	12,131		12,276		36,512		37,201
Reportable segment net revenue	23,499		20,775		68,753		61,754
Other businesses (a)	867		1,474		2,882		4,345
Unallocated transactions (b)	—		2		1		8
Total consolidated net revenue	$	24,366	$	22,251	$	71,636	$	66,107

Consolidated operating income:
Infrastructure Solutions Group	$	1,508	$	1,069	$	3,528	$	2,858
Client Solutions Group	694		925		2,193		2,786
Reportable segment operating income	2,202		1,994		5,721		5,644
Other businesses (a)	(3)		(32)		(14)		(112)
Unallocated transactions (b)	—		2		—		7

Amortization of intangibles (c)	(168)		(207)		(504)		(623)

Stock-based compensation expense (d)	(198)		(227)		(599)		(675)
Other corporate expenses (e)	(165)		(44)		(674)		(521)
Total consolidated operating income	$	1,668	$	1,486	$	3,930	$	3,720

____________________

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

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

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Net revenue:
Infrastructure Solutions Group:
Servers and networking	$	7,364	$	4,656	$	20,502	$	12,767
Storage	4,004		3,843		11,739		11,786
Total ISG net revenue	$	11,368	$	8,499	$	32,241	$	24,553
Client Solutions Group:
Commercial	$	10,138	$	9,835	$	30,848	$	30,251
Consumer	1,993		2,441		5,664		6,950
Total CSG net revenue	$	12,131	$	12,276	$	36,512	$	37,201

FAIR VALUE MEASUREMENTS - Schedule of Carrying Value and Estimated Fair Value of Outstanding Debt (Details) - USD ($) $ in Billions	Nov. 01, 2024	Feb. 02, 2024
Carrying Value \| Senior Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	$ 15.0	$ 15.5
Carrying Value \| Legacy Notes \| 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	9.2	9.5
Fair Value \| Senior Notes \| Secured Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding debt	15.1	15.8
Fair Value \| Legacy Notes \| 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	$ 8.9	$ 9.1

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
Earnings per share attributable to Dell Technologies Inc.
Dell Technologies Common Stock — Basic (in dollars per share)	$ 1.61	$ 1.39	$ 4.16	$ 2.83
Dell Technologies Common Stock — Diluted (in dollars per share)	$ 1.58	$ 1.36	$ 4.07	$ 2.78
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. — basic	$ 1,132	$ 1,006	$ 2,938	$ 2,051
Net income attributable to Dell Technologies Inc. — diluted	$ 1,132	$ 1,006	$ 2,938	$ 2,051
Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding — basic (in shares)	703	722	706	724
Dilutive effect of equity awards (in shares)	14	18	16	14
Weighted-average shares outstanding — diluted (in shares)	717	740	722	738
Weighted-average shares outstanding — antidilutive (in shares)	0	0	0	5

INVESTMENTS

9 Months Ended

Nov. 01, 2024

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 while short-term fixed income debt securities are recorded as other current assets in the Condensed Consolidated Statements of Financial Position.

Total investments were $1.4 billion as of November 1, 2024 and $1.6 billion as of February 2, 2024.

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. Investments in non-marketable equity and other securities represent early-stage companies without readily determinable fair values. 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 for 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


	November 1, 2024								February 2, 2024
	Cost		Unrealized Gain		Unrealized Loss		Carrying Value		Cost		Unrealized Gain		Unrealized Loss		Carrying Value

	(in millions)
Marketable	$	12	$	26	$	(32)	$	6	$	12	$	24	$	(26)	$	10
Non-marketable	702		863		(260)		1,305		732		1,015		(454)		1,293
Total equity and other securities	$	714	$	889	$	(292)	$	1,311	$	744	$	1,039	$	(480)	$	1,303

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Marketable securities:
Unrealized gain	$	3	$	—	$	3	$	1
Unrealized loss	—		—		(6)		(23)
Net unrealized gain (loss)	3		—		(3)		(22)

Non-marketable securities:
Unrealized gain	7		6		7		15
Unrealized loss	—		(3)		(31)		(49)
Net unrealized gain (loss) (a) (b)	7		3		(24)		(34)

Net unrealized gain (loss) on equity and other securities	$	10	$	3	$	(27)	$	(56)

____________________

Fixed Income Debt Securities

As of November 1, 2024 and February 2, 2024, the Company held fixed income debt securities of $61 million and $301 million, respectively, which it intends to hold to maturity. These investments are recorded at amortized cost and approximate fair value. As of November 1, 2024, the Company held $60 million in fixed income debt securities which will mature within one year and $1 million in fixed income debt securities which will mature within five years.

FINANCIAL SERVICES - Schedule of DFS Debt (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	$ 25,252	$ 26,222
Total short-term DFS debt	5,612	6,982
Total long-term DFS debt	19,410	19,012
Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	6,017	5,915
Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	3,154	3,577
Asset-based financing facility \| Secured Debt \| DFS U.S. debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	2,753	2,730
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 DFS debt, principal amount	3,264	3,157
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 DFS debt, principal amount	0	28
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 DFS debt, principal amount	798	935
Securitization facility \| Secured Debt \| DFS international debt: \| Finance Leases and Revolving Loan Portfolio Segments
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	723	761
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 DFS debt, principal amount	0	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 DFS debt, principal amount	1,633	1,631
DFS Debt \| Secured Debt
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total DFS debt, principal amount	9,171	9,492
Total short-term DFS debt	5,582	5,863
Total long-term DFS debt	$ 3,589	$ 3,629

DEBT

9 Months Ended

Nov. 01, 2024

Debt Disclosure [Abstract]

DEBT

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


	November 1, 2024		February 2, 2024

	(in millions)
Senior Notes	$	15,073	$	15,607

Legacy Notes	952		952
DFS Debt (Note 4)	9,171		9,492
Other	56		171
Total debt, principal amount	25,252		26,222
Unamortized discount, net of unamortized premium	(113)		(114)
Debt issuance costs	(117)		(114)
Total debt, carrying value	$	25,022	$	25,994
Total short-term debt, carrying value	$	5,612	$	6,982
Total long-term debt, carrying value	$	19,410	$	19,012

The Company completed the following transactions during the nine months ended November 1, 2024:

•the issuance of $1 billion principal amount of 5.40% Senior Notes due April 2034, the proceeds of which were utilized to prepay a portion of the outstanding 6.02% Senior Notes due June 2026;

•the repayment of $1 billion principal amount of the 4.00% Senior Notes due July 2024; and

•the issuance of $0.7 billion principal amount of 4.35% Senior Notes due February 2030 and $0.8 billion principal amount of 4.85% Senior Notes due February 2035, the proceeds of which were utilized to redeem the 5.85% Senior Notes due July 2025.

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, January 24, 2023, March 18, 2024, and October 8, 2024 in aggregate principal amounts of $20.0 billion, $3.3 billion, $4.5 billion, $2.3 billion, $2.3 billion, $2.0 billion, $1.0 billion, and $1.5 billion, respectively (collectively, the “Senior Notes”). The Senior Notes maturities range from 2026 through 2051. Interest rates on these borrowings are fixed, ranging from 3.38% to 8.35%, and interest is payable semiannually.

Legacy Notes — The Company has outstanding unsecured notes and debentures (collectively, the “Legacy Notes”) 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. The Legacy Notes’ maturities range from 2028 through 2040. Interest rates on these borrowings are fixed, ranging from 5.40% to 7.10%, and interest 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.

Revolving Credit Facility — The Company’s revolving credit facility provides the Company with revolving commitments in an aggregate principal amount of $6.0 billion for general corporate purposes 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 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 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 at any time without premium or penalty, other than customary breakage costs. The facility matures on November 1, 2027.

As of November 1, 2024, the Company had no outstanding borrowings under the revolving credit facility.

Commercial Paper Program — The Company maintains 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 November 1, 2024, the Company had no outstanding issuances 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 revolving credit facility and the indentures governing the Senior Notes and the Legacy Notes 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, and the revolving credit facility is 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 November 1, 2024.

Aggregate Future Maturities

The following table presents the aggregate future maturities of the Company’s debt as of November 1, 2024, excluding associated carrying value adjustments, for the periods indicated:


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	2,023
Fiscal 2026	3,996
Fiscal 2027	6,020
Fiscal 2028	1,308
Fiscal 2029	1,372
Thereafter	10,533
Total maturities, principal amount	$	25,252

- 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 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: 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 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(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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

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

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: 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 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

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

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

FINANCIAL SERVICES

9 Months Ended

Nov. 01, 2024

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 the Company’s 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 $1.6 billion and $1.8 billion for the three months ended November 1, 2024 and November 3, 2023, respectively, and $5.9 billion and $6.0 billion for the nine months ended November 1, 2024 and November 3, 2023, respectively.

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

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.

Revolving loans — The Company primarily offers revolving loans to small and medium-sized commercial customers. Revolving loans provide qualified customers with a revolving credit line for the purchase of products and services offered by Dell Technologies. 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.

Prior to the sale of the U.S. consumer revolving customer receivables portfolio on October 4, 2023, described in Note 1 of the Notes to the Condensed Consolidated Financial Statements, the Company offered private label credit financing under the Dell Preferred Account (“DPA”) program. The DPA product was primarily offered to individual consumer customers. During the three months ended November 1, 2024, the Company discontinued remaining offerings under the revolving loan portfolio. The Company will support existing customer arrangements as well as transition these customers to fixed-term offerings.

Flexible consumption models, as defined above, further enable the Company to offer its customers the option to pay over time to provide them with financial and operational flexibility. 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:


	November 1, 2024						February 2, 2024
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Financing receivables, net:
Customer receivables, gross (a)	$	126	$	10,699	$	10,825	$	173	$	10,360	$	10,533
Allowances for losses	(7)		(137)		(144)		(9)		(161)		(170)
Customer receivables, net	119		10,562		10,681		164		10,199		10,363
Residual interest	—		169		169		—		157		157
Financing receivables, net	$	119	$	10,731	$	10,850	$	164	$	10,356	$	10,520
Short-term	$	119	$	4,882	$	5,001	$	164	$	4,479	$	4,643
Long-term	$	—	$	5,849	$	5,849	$	—	$	5,877	$	5,877

____________________

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

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


	Three Months Ended
	November 1, 2024						November 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	8	$	158	$	166	$	9	$	140	$	149

Charge-offs, net of recoveries	(3)		(35)		(38)		(4)		(3)		(7)
Provision charged to income statement	2		14		16		4		7		11

Balances at end of period	$	7	$	137	$	144	$	9	$	144	$	153


	Nine Months Ended
	November 1, 2024						November 3, 2023
	Revolving		Fixed-term		Total		Revolving		Fixed-term		Total

	(in millions)
Allowance for financing receivable losses:
Balances at beginning of period	$	9	$	161	$	170	$	88	$	113	$	201

Charge-offs, net of recoveries	(9)		(56)		(65)		(37)		(5)		(42)
Provision charged to income statement	7		32		39		32		36		68
Other (a)	—		—		—		(74)		—		(74)
Balances at end of period	$	7	$	137	$	144	$	9	$	144	$	153

____________________

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:


	November 1, 2024								February 2, 2024
	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	$	107	$	15	$	4	$	126	$	151	$	17	$	5	$	173
Fixed-term	10,053		488		158		10,699		9,345		889		126		10,360
Total customer receivables, gross	$	10,160	$	503	$	162	$	10,825	$	9,496	$	906	$	131	$	10,533

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 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:


	November 1, 2024

	Fixed-term — Fiscal Year of Origination
	2025		2024		2023		2022		2021		Years Prior		Revolving		Total

	(in millions)
Higher	$	1,555	$	2,440	$	1,560	$	515	$	158	$	14	$	25	$	6,267
Mid	733		710		432		122		22		5		37		2,061
Lower	1,505		465		314		88		58		3		64		2,497
Total	$	3,793	$	3,615	$	2,306	$	725	$	238	$	22	$	126	$	10,825


	February 2, 2024

	Fixed-term — Fiscal Year of Origination
	2024		2023		2022		2021		2020		Years Prior		Revolving		Total

	(in millions)
Higher	$	3,261	$	1,979	$	833	$	345	$	64	$	—	$	47	$	6,529
Mid	1,111		911		290		86		19		—		50		2,467
Lower	703		469		187		80		21		1		76		1,537
Total	$	5,075	$	3,359	$	1,310	$	511	$	104	$	1	$	173	$	10,533

The categories shown in the tables above segregate customer receivables based on the relative degrees of credit risk. Credit quality indicators for revolving and fixed-term accounts are generally updated on a periodic basis.

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 amounts included in the Condensed Consolidated Statements of Income related to sales-type lease activity for the periods indicated:


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)


Net revenue — products	$	401	$	227	$	1,751	$	766
Cost of net revenue — products	333		176		1,488		564
Gross margin — products	$	68	$	51	$	263	$	202


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	871
Fiscal 2026	3,114
Fiscal 2027	2,085
Fiscal 2028	793
Fiscal 2029 and beyond	454
Total undiscounted cash flows	7,317
Fixed-term loans	4,466
Revolving loans	126
Less: Unearned income	(1,084)
Total customer receivables, gross	$	10,825

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:


	November 1, 2024		February 2, 2024

	(in millions)
Equipment under operating lease, gross	$	4,188	$	4,002
Less: Accumulated depreciation	(1,971)		(1,800)
Equipment under operating lease, net	$	2,217	$	2,202

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Income related to lease payments	$	372	$	341	$	1,090	$	992
Depreciation expense	$	247	$	234	$	732	$	703

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


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	347
Fiscal 2026	1,079
Fiscal 2027	665
Fiscal 2028	316
Fiscal 2029 and beyond	121
Total	$	2,528

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 lease and loan payments and associated equipment.


	November 1, 2024		February 2, 2024

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing facility	$	2,753	$	2,730
Fixed-term securitization offerings	3,264		3,157
Other	—		28
Total DFS U.S. debt, principal amount	6,017		5,915
DFS international debt:
Securitization facility	723		761
Other borrowings	798		935
Note payable	—		250
Dell Bank senior unsecured eurobonds	1,633		1,631
Total DFS international debt, principal amount	3,154		3,577
Total DFS debt, principal amount	$	9,171	$	9,492
Total short-term DFS debt	$	5,582	$	5,863
Total long-term DFS debt	$	3,589	$	3,629

DFS U.S. Debt

Asset-Based Financing Facility — The Company maintains an asset-based financing facility in the United States, which is a revolving facility for fixed-term leases and loans. This debt is collateralized solely by the U.S. lease and loan payments and associated equipment in the facility. The asset-based financing facility consists of two tranches, with effective dates through July 7, 2025 and July 7, 2026, respectively. As of November 1, 2024, the total debt capacity related to the asset-based financing facility was $5.0 billion. The debt has a variable interest rate, and the duration of the debt is based on the terms of the underlying lease and loan payment streams. The Company enters into interest rate swap agreements to economically 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 the Company’s interest rate swaps.

The asset-based financing facility contains 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 November 1, 2024, 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 4.14% to 6.80% per annum as of November 1, 2024, 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 lease and loan payment streams. This facility is effective through December 23, 2024 and had a total debt capacity of $871 million as of November 1, 2024.

The securitization facility contains standard structural features related to the performance of the securitized receivables, which include defined credit losses, delinquencies, average credit scores, and minimum collection requirements. In the event one or more of these criteria are not met and the Company is unable to restructure the program, no further funding of receivables will be permitted and the timing of the Company’s expected cash flows from over-collateralization will be delayed. As of November 1, 2024, 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, the Middle East, and Singapore. The debt under these programs has a variable interest rate.

The duration of the debt in Canada, Europe, Australia, New Zealand, and the Middle East is based on the terms of the underlying lease and loan payment streams. These facilities are collateralized solely by the lease and loan payments and associated equipment in their respective region or country. The Canadian facility had a total debt capacity of $323 million as of November 1, 2024 and is effective through January 16, 2025. The European facility had a total debt capacity of $544 million as of November 1, 2024 and is effective through December 14, 2026. The Australia and New Zealand facility had a total debt capacity of $296 million as of November 1, 2024 and is effective through April 20, 2025. The Middle East facility had a total debt capacity of $150 million as of November 1, 2024 and is effective through March 24, 2025.

The Company also has two unsecured Singapore facilities with a total debt capacity of $250 million as of November 1, 2024 that are effective through July 3, 2026 and July 3, 2027, respectively.

Note Payable — On May 25, 2022, the Company entered into an unsecured credit agreement which had an aggregate principal amount of $250 million to fund receivables in Mexico. The note bore interest at an annual rate of 4.24% and was paid in full on May 31, 2024.

Dell Bank Senior Unsecured Eurobonds — 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. On June 13, 2024, Dell Bank issued 500 million Euro of 3.6% senior unsecured five year eurobonds due June 2029. 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 facility, securitization facility, 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 lease and loan 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:


	November 1, 2024		February 2, 2024

	(in millions)
Assets held by consolidated VIEs
Other current assets	$	123	$	136
Financing receivables, net of allowance
Short-term	$	3,354	$	3,314
Long-term	$	2,989	$	2,747
Property, plant, and equipment, net	$	1,022	$	1,081
Liabilities held by consolidated VIEs
Debt, net of unamortized debt issuance costs
Short-term	$	4,888	$	4,450
Long-term	$	1,838	$	2,184

Lease and loan payments and associated equipment transferred via securitization through SPEs were $1.0 billion and $1.1 billion for the three months ended November 1, 2024 and November 3, 2023, respectively, and $3.0 billion and $3.7 billion for the nine months ended November 1, 2024 and November 3, 2023, respectively.

Customer Receivables 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 $75 million and $205 million for the nine months ended November 1, 2024 and November 3, 2023, respectively. The Company’s continuing involvement in these customer receivables is primarily limited to servicing arrangements.

DEBT (Tables)

9 Months Ended

Nov. 01, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt


	November 1, 2024		February 2, 2024

DFS debt	(in millions)
DFS U.S. debt:
Asset-based financing facility	$	2,753	$	2,730
Fixed-term securitization offerings	3,264		3,157
Other	—		28
Total DFS U.S. debt, principal amount	6,017		5,915
DFS international debt:
Securitization facility	723		761
Other borrowings	798		935
Note payable	—		250
Dell Bank senior unsecured eurobonds	1,633		1,631
Total DFS international debt, principal amount	3,154		3,577
Total DFS debt, principal amount	$	9,171	$	9,492
Total short-term DFS debt	$	5,582	$	5,863
Total long-term DFS debt	$	3,589	$	3,629

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


	November 1, 2024		February 2, 2024

	(in millions)
Senior Notes	$	15,073	$	15,607

Legacy Notes	952		952
DFS Debt (Note 4)	9,171		9,492
Other	56		171
Total debt, principal amount	25,252		26,222
Unamortized discount, net of unamortized premium	(113)		(114)
Debt issuance costs	(117)		(114)
Total debt, carrying value	$	25,022	$	25,994
Total short-term debt, carrying value	$	5,612	$	6,982
Total long-term debt, carrying value	$	19,410	$	19,012

Schedule of Aggregate Future Maturities

The following table presents the aggregate future maturities of the Company’s debt as of November 1, 2024, excluding associated carrying value adjustments, for the periods indicated:


	November 1, 2024

	(in millions)
Fiscal 2025 (remaining three months)	$	2,023
Fiscal 2026	3,996
Fiscal 2027	6,020
Fiscal 2028	1,308
Fiscal 2029	1,372
Thereafter	10,533
Total maturities, principal amount	$	25,252

EARNINGS PER SHARE (Tables)

9 Months Ended

Nov. 01, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

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


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023
Earnings per share attributable to Dell Technologies Inc.
Dell Technologies Common Stock — Basic	$	1.61	$	1.39	$	4.16	$	2.83
Dell Technologies Common Stock — Diluted	$	1.58	$	1.36	$	4.07	$	2.78

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


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. — basic and diluted	$	1,132	$	1,006	$	2,938	$	2,051






Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding — basic	703		722		706		724
Dilutive effect of equity awards	14		18		16		14
Weighted-average shares outstanding — diluted	717		740		722		738
Weighted-average shares outstanding — antidilutive	—		—		—		5

EARNINGS PER SHARE

9 Months Ended

Nov. 01, 2024

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				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023
Earnings per share attributable to Dell Technologies Inc.
Dell Technologies Common Stock — Basic	$	1.61	$	1.39	$	4.16	$	2.83
Dell Technologies Common Stock — Diluted	$	1.58	$	1.36	$	4.07	$	2.78

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


	Three Months Ended				Nine Months Ended
	November 1, 2024		November 3, 2023		November 1, 2024		November 3, 2023

	(in millions)
Numerator: Dell Technologies Common Stock
Net income attributable to Dell Technologies Inc. — basic and diluted	$	1,132	$	1,006	$	2,938	$	2,051






Denominator: Dell Technologies Common Stock weighted-average shares outstanding
Weighted-average shares outstanding — basic	703		722		706		724
Dilutive effect of equity awards	14		18		16		14
Weighted-average shares outstanding — diluted	717		740		722		738
Weighted-average shares outstanding — antidilutive	—		—		—		5

DEBT - Schedule of Aggregate Future Maturities (Details) - USD ($) $ in Millions	Nov. 01, 2024	Feb. 02, 2024
Debt Disclosure [Abstract]
Fiscal 2025 (remaining three months)	$ 2,023
Fiscal 2026	3,996
Fiscal 2027	6,020
Fiscal 2028	1,308
Fiscal 2029	1,372
Thereafter	10,533
Total maturities, principal amount	$ 25,252	$ 26,222

CAPITALIZATION - Schedule of Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Nov. 01, 2024	Aug. 02, 2024	May 03, 2024	Nov. 03, 2023	Aug. 04, 2023	May 05, 2023	Nov. 01, 2024	Nov. 03, 2023
Equity [Abstract]
Dividend declared (in dollars per share)	$ 0.445	$ 0.445	$ 0.445	$ 0.37	$ 0.37	$ 0.37	$ 1.335	$ 1.11
Dividends	$ 312	$ 314	$ 316	$ 266	$ 268	$ 270

FINANCIAL SERVICES - Schedule of Operating Lease Income Related to Lease Payments and Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023	Nov. 01, 2024	Nov. 03, 2023
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	$ 372	$ 341	$ 1,090	$ 992
Depreciation expense	$ 247	$ 234	$ 732	$ 703

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Nov. 01, 2024	Nov. 03, 2023
Cash flows from operating activities:
Net income	$ 2,923	$ 2,037
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,349	2,462
Stock-based compensation expense	599	675
Deferred income taxes	(422)	(244)
Other, net	621	521
Changes in assets and liabilities:
Accounts receivable	(2,031)	2,517
Financing receivables	(419)	445
Inventories	(3,322)	1,203
Other assets and liabilities	2,147	(2,096)
Due from/to related party, net	0	(574)
Accounts payable	4,089	1,012
Deferred revenue	(2,598)	(815)
Change in cash from operating activities	3,936	7,143
Cash flows from investing activities:
Purchases of investments	(83)	(143)
Maturities and sales of investments	337	150
Capital expenditures and capitalized software development costs	(1,917)	(2,029)
Acquisition of businesses and assets, net	0	(127)
Other	126	35
Change in cash from investing activities	(1,537)	(2,114)
Cash flows from financing activities:
Proceeds from the issuance of common stock	1	8
Repurchases of common stock	(1,854)	(1,202)
Repurchases of common stock for employee tax withholdings	(560)	(354)
Payments of dividends and dividend equivalents	(964)	(811)
Proceeds from debt	8,613	6,904
Repayments of debt	(9,594)	(9,766)
Debt-related costs and other, net	(66)	(54)
Change in cash from financing activities	(4,424)	(5,275)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(78)	(200)
Change in cash, cash equivalents, and restricted cash	(2,103)	(446)
Cash, cash equivalents, and restricted cash at beginning of the period	7,507	8,894
Cash, cash equivalents, and restricted cash at end of the period	$ 5,404	$ 8,448