8-KOther EventsExhibits & Filings

Dell Technologies Inc. 8-K Report, Corporate Update (Aug 6, 2018)

Filed August 6, 2018For Securities:DELL

Summary

Dell Technologies Inc. filed this Current Report on Form 8-K on August 6, 2018, primarily to present previously reported financial statements and related information on a basis consistent with new accounting standards. Specifically, the company has recast its financial data to reflect the adoption of ASC 606 for revenue recognition and ASC 230 for cash flow statements, which were implemented during the three months ended May 4, 2018. This filing does not introduce new events or modify disclosures outside of these accounting standard updates; investors should refer to the original 2018 Form 10-K for a complete understanding of Dell's financial position and performance, read in conjunction with this report for the revised presentation. The recast financial information, including the Consolidated Statements of Cash Flows and segment information, is provided in Exhibit 99.1 to this 8-K filing. Additionally, recast unaudited attributed financial information for the Class V Group is included as Exhibit 99.2. While the core business and financial operations remain as previously reported, these updates ensure consistency with current accounting pronouncements and may affect the comparability of historical periods presented.

Key Highlights

  • 1Dell Technologies is recasting previously reported financial statements to comply with new accounting standards: ASC 606 (Revenue Recognition) and ASC 230 (Statement of Cash Flows).
  • 2These accounting standard adoptions were implemented by Dell during the three months ended May 4, 2018.
  • 3The recast financial information covers the fiscal years ended February 2, 2018, and February 3, 2017, and is presented in Exhibit 99.1.
  • 4The filing also includes recast segment information and recast unaudited attributed financial information for the Class V Group (Exhibit 99.2).
  • 5This 8-K report primarily serves to provide a restated presentation and does not introduce new business events or update disclosures beyond the accounting standard changes.
  • 6Investors should read this filing in conjunction with Dell's 2018 Form 10-K for a comprehensive view, as this report focuses solely on the accounting restatements.

Frequently Asked Questions

Dell Technologies is filing this 8-K to present previously reported financial statements and information on a basis consistent with new accounting standards they have adopted, specifically ASC 606 for revenue recognition and ASC 230 for cash flow statements.

The recast information includes the Consolidated Statements of Cash Flows, segment information, and the recast historical consolidated financial statements for the fiscal years ended February 2, 2018, and February 3, 2017. Recast unaudited attributed financial information for the Class V Group is also provided.

No, this filing primarily represents a retrospective adjustment for accounting standards and does not reflect new events or changes to the company's business operations or financial performance that occurred after the filing of the 2018 Form 10-K, except for the impact of the accounting standard changes.

The recast financial statements and other related recast information are included as Exhibit 99.1 to this 8-K filing. Recast attributed financial information for the Class V Group is in Exhibit 99.2.