DEBT (Tables)

6 Months Ended

Jul. 30, 2021

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


	July 30, 2021		January 29, 2021
	(in millions)
DFS U.S. debt:
Asset-based financing and securitization facilities	$	3,182	$	3,311
Fixed-term securitization offerings	2,929		2,961
Other	176		140
Total DFS U.S. debt	6,287		6,412
DFS international debt:
Securitization facility	768		786
Other borrowings	1,063		1,006
Note payable	250		250
Dell Bank Senior Unsecured Eurobonds	1,189		1,212
Total DFS international debt	3,270		3,254
Total DFS debt	$	9,557	$	9,666
Total short-term DFS debt	$	5,281	$	4,888
Total long-term DFS debt	$	4,276	$	4,778

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


	July 30, 2021		January 29, 2021
	(in millions)
Secured Debt
Senior Secured Credit Facilities:
2.00% Term Loan B-2 Facility due September 2025	$	3,127	$	3,143
1.86% Term Loan A-6 Facility due March 2024	3,134		3,134
First Lien Notes:
5.45% due June 2023	3,750		3,750
4.00% due July 2024	1,000		1,000
5.85% due July 2025	1,000		1,000
6.02% due June 2026	4,500		4,500
4.90% due October 2026	1,750		1,750
6.10% due July 2027	500		500
5.30% due October 2029	1,750		1,750
6.20% due July 2030	750		750
8.10% due July 2036	1,500		1,500
8.35% due July 2046	2,000		2,000
Unsecured Debt
Unsecured Notes and Debentures:
4.625% due April 2021	—		400
7.10% due April 2028	300		300
6.50% due April 2038	388		388
5.40% due September 2040	264		264
Senior Notes:
5.875% due June 2021	—		1,075
7.125% due June 2024	1,625		1,625
EMC Notes:
3.375% due June 2023	1,000		1,000
Debt of Public Subsidiary
VMware Notes:
2.95% due August 2022	1,500		1,500
4.50% due May 2025	750		750
4.65% due May 2027	500		500
3.90% due August 2027	1,250		1,250
4.70% due May 2030	750		750
DFS Debt (Note 3)	9,557		9,666
Other
2.44% Margin Loan Facility due April 2022	1,000		4,000
Other	392		235
Total debt, principal amount	$	44,037	$	48,480


	July 30, 2021		January 29, 2021
	(in millions)
Total debt, principal amount	$	44,037	$	48,480
Unamortized discount, net of unamortized premium	(174)		(194)
Debt issuance costs	(269)		(302)
Total debt, carrying value	$	43,594	$	47,984
Total short-term debt, carrying value	$	6,427	$	6,362
Total long-term debt, carrying value	$	37,167	$	41,622

Aggregate future maturities

The following table presents the aggregate future maturities of the Company’s debt as of July 30, 2021 for the periods indicated:


	Maturities by Fiscal Year
	2022 (remaining six months)		2023		2024		2025		2026		Thereafter		Total
	(in millions)
Senior Secured Credit Facilities and First Lien Notes	$	16	$	213	$	6,007	$	1,758	$	4,017	$	12,750	$	24,761
Unsecured Notes and Debentures	—		—		—		—		—		952		952
Senior Notes and EMC Notes	—		—		1,000		1,625		—		—		2,625
VMware Notes	—		1,500		—		—		750		2,500		4,750
DFS Debt	2,752		4,463		1,454		851		37		—		9,557
Margin Loan Facility	—		1,000		—		—		—		—		1,000
Other	27		33		190		94		24		24		392
Total maturities, principal amount	2,795		7,209		8,651		4,328		4,828		16,226		44,037
Associated carrying value adjustments	(3)		(5)		(27)		(65)		(45)		(298)		(443)
Total maturities, carrying value amount	$	2,792	$	7,204	$	8,624	$	4,263	$	4,783	$	15,928	$	43,594