Dell Financial Risk

Following are Dell's condensed consolidated statement of financial position and condensed consolidated statement of operations, in millions (unaudited).

Statement of Financial Position Assets: Cash & cash equivalents $ 4,747 $ 4,317 $ 4,232 $ 3,641 $ 4,910 Short-term investments 5,060 835 406 273 525 Accounts receivable, net 4,414 3,635 2,586 2,269 2,424 Inventories 459 327 306 278 400 Other 2,217 1,519 1,394 1,416 1,467 Total current assets 16,897 10,633 8,924 7,877 9,726 Property, plant, 8;: equipment, net 1,691 1,517 913 826 996 Investments 4,319 6,770 5,267 4,373 2,418 Other noncurrent assets 308 391 366 459 530 Total assets: $23,215 $19,311 $15,470 $13,535 $13,670 Liabilities & Stockholders Equity: Accounts payable $ 8,895 $ 7,316 $ 5,989 $ 5,075 $ 4,286 Accrued and other 5,241 3,580 2,944 2,444 2,492 Total current liabilities 14,136 10,896 8,933 7,519 6,778 Long-term debt 505 505 506 520 509 Other noncurrent liabilities 2,089 1,630 1,158 802 761 Total liabilities: 16,730 13,031 10,597 8,841 8,048 Stockholders' equity: 6,485 6,280 4,873 4,694 5,622 Total liabilities & stockholders' equity: $23,215 $19,311 $15,470 $13,535 $13,670 Income Statement: Net revenue Sequential Growth Y/ Y Growth Cost of revenue Gross margin SG&A R&D Special charges Total operating expenses Operating income Investment and other income, net Income before income taxes & chg in acct principle Income tax provision Cumulative effect of change in acct principle Net income Sequential Growth Y/ Y Growth Prior Annual Results FY05 ** FY04 FY03 FY02 * $49,205 $41,444 $35,404 $31,168 $31,888 18.7% 17.1% 13.6% 2.3% 26.2% 40,190 33,892 29,055 25,661 25,445 9,015 7,552 6,349 5,507 6,443 4,298 3,544 3,050 2,784 3,193 463 464 455 452 482 - - - 482 105 4,761 4,008 3,505 3,718 3,780 4,254 3,544 2,844 1,789 2,663 191 180 183 (58) 531 4,445 3,724 3,027 1,731 3,194 1,402 1,079 905 485 958 - - - - 59 $ 3,043 $ 2,645 $ 2,122 $ 1,246 $ 2,177 15.0% 24.6% 70.3% -42.8% 30.7%