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CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
 12 Months Ended
Jan. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
CONDENSED FINANCIAL INORMATION OF PARENT COMPANY
NOTE 21 — CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

Dell Technologies Inc. has no material assets or standalone operations other than its ownership in its consolidated subsidiaries. There are restrictions under credit agreements and indentures governing the First Lien Notes and the Senior Notes, described in Note 6 of the Notes to the Consolidated Financial Statements, on the Company’s ability to obtain funds from any of its subsidiaries through dividends, loans, or advances. As of January 31, 2020, the Company had certain consolidated subsidiaries that were designated as unrestricted subsidiaries for all purposes of the applicable credit agreements and such indentures. As of January 31, 2020, substantially all of the net assets of the Company’s consolidated subsidiaries were restricted, with the exception of the Company’s unrestricted subsidiaries, primarily VMware, Inc., Secureworks, and their respective subsidiaries. Accordingly, this condensed financial information is presented on a “Parent-only” basis. Under a Parent-only presentation, Dell Technologies Inc.’s investments in its consolidated subsidiaries are presented under the equity method of accounting.

The following table presents the financial position of Dell Technologies Inc. (Parent) as of the dates indicated:
Dell Technologies Inc. (Parent)
January 31, 2020
 
February 1, 2019
 
(in millions)
Assets:
 
 
 
Other non-current assets
$
—

 
$
25

Total assets
$
—

 
$
25

Liabilities:
 
 
 
Short-term debt
$
—

 
$
13

Guarantees of subsidiary obligations (a)
945

 
4,581

Total liabilities
945

 
4,594

Redeemable shares
629

 
1,196

Stockholders’ equity (deficit):
 
 
 
Common stock and capital in excess of $0.01 par value
16,091

 
16,114

Treasury stock at cost
(65
)
 
(63
)
Accumulated deficit
(16,891
)
 
(21,349
)
Accumulated other comprehensive income (loss)
(709
)
 
(467
)
Total stockholders’ equity (deficit)
(1,574
)
 
(5,765
)
Total liabilities, redeemable shares, and stockholders’ equity (deficit)
$
—

 
$
25

____________________
(a)
Guarantees of subsidiary obligations represents the capital Dell Technologies Inc. received in excess of the carrying amount of its investments in subsidiaries.


The following table presents a reconciliation of the equity in net loss of subsidiaries to the net loss attributable to Dell Technologies Inc., and a reconciliation of consolidated net loss to comprehensive net loss attributable to Dell Technologies Inc. for the periods indicated:
 
Fiscal Year Ended
 
January 31, 2020
 
February 1, 2019
 
February 2, 2018
 
(in millions)
Equity in net loss of subsidiaries attributable to Dell Technologies Inc.
$
4,643

 
$
(2,042
)
 
$
(2,844
)
 
 
 
 
 
 
Parent - Total operating expense (a)
(21
)
 
(273
)
 
—

Parent - Interest and other, net
—

 
(20
)
 
(2
)
Parent - Income tax expense (benefit) (a)
6

 
(25
)
 
3

Parent - Loss before equity in net income of subsidiaries
$
(27
)
 
$
(268
)
 
$
(5
)
 
 
 
 
 
 
Consolidated net income (loss) attributable to Dell Technologies Inc.
4,616

 
(2,310
)
 
(2,849
)
Other comprehensive income (loss) of subsidiaries attributable to Dell Technologies Inc.
(242
)
 
(539
)
 
725

Comprehensive income (loss) attributable to Dell Technologies Inc.
$
4,374

 
$
(2,849
)
 
$
(2,124
)
____________________
(a)
During the fiscal years ended January 31, 2020 and February 1, 2019, the operating expense and the associated income tax expense (benefit) were primarily related to the costs incurred in the Class V transaction described in Note 14 of the Notes to the Consolidated Financial Statements.

The following table presents the cash flows of Dell Technologies Inc. (Parent) for the periods indicated:
 
Fiscal Year Ended
Dell Technologies Inc. (Parent)
January 31, 2020
 
February 1, 2019
 
February 2, 2018
 
(in millions)
Change in cash from operating activities
$
(21
)
 
$
(274
)
 
$
(2
)
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
Transfer (to)/from subsidiary
(308
)
 
14,360

 
640

Change in cash from investing activities
(308
)
 
14,360

 
640

 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
Share repurchases for tax withholdings of equity awards
(6
)
 
(28
)
 
(33
)
Proceeds from the issuance of common stock
350

 
2

 
1

Repurchases of Class V Common Stock
—

 
(14,000
)
 
(723
)
Repayments of debt
(13
)
 
(13
)
 
—

Other
(2
)
 
(47
)
 
(6
)
Change in cash from financing activities
329

 
(14,086
)
 
(761
)
Change in cash, cash equivalents, and restricted cash
—

 
—

 
(123
)
Cash, cash equivalents, and restricted cash at beginning of the period
—

 
—

 
123

Cash, cash equivalents, and restricted cash at end of the period
$
—

 
$
—

 
$
—