Dell Computer Corp
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DELL COMPUTER CORP Filing Type: 10-K Description: N/A Filing Date: 01/31/03 Ticker: Cusip: State: TX Country: US Primary SIC: 3571 Primary Exchange: OTH Billing Cross Reference: Date Printed: 04/29/04 Provided by Thomson Financial DELL COMPUTER CORP - 10-K Filing Date: 01/31/03 Table of Contents To jump to section, click on hypertexted page number Filing Sections Document ....................................................................................................................................................................1 Base .............................................................................................................................................................................1 Cover Page...................................................................................................................................................................1 Table of Contents.........................................................................................................................................................2 Business.......................................................................................................................................................................2 Properties.................................................................................................................................................................. 16 Legal Proceedings..................................................................................................................................................... 17 Submission to a Vote................................................................................................................................................ 17 Market for Common Equity...................................................................................................................................... 18 Selected Financial Data ............................................................................................................................................ 18 Management Discussion........................................................................................................................................... 20 Financial Stmnts/Suppl Data .................................................................................................................................... 36 Financial Statements................................................................................................................................................. 36 Report of Auditors.................................................................................................................................................... 37 Balance Sheet ........................................................................................................................................................... 37 Income Statement ..................................................................................................................................................... 39 Cashflow Statement.................................................................................................................................................. 40 Shareholders Equity.................................................................................................................................................. 41 Financial Footnotes................................................................................................................................................... 43 Changes in Accounting............................................................................................................................................. 67 Exhibits and Reports................................................................................................................................................. 68 List of Exhibits ......................................................................................................................................................... 68 Signatures ................................................................................................................................................................. 71 Exhibits Exhibits..................................................................................................................................................................... 76 Exhibit Index ............................................................................................................................................................ 76 Material Contracts 10.11 ......................................................................................................................................... 79 Subsidiaries 21 ......................................................................................................................................................... 93 Consents : Experts/Counsel 23 ................................................................................................................................ 95 Additional Exhibits 99.1 .......................................................................................................................................... 96 Provided by Thomson Financial DELL COMPUTER CORP - 10-K Filing Date: 01/31/03 Table of Contents ------------------------------------------------------------------------ ------------------------------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended January 31, 2003 Commission File Number: 0-17017 Dell Computer Corporation (Exact name of registrant as specified in its charter) Delaware 74-2487834 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) One Dell Way, Round Rock, Texas 78682 (Address, including Zip Code, of registrant's principal executive offices) (512) 338-4400 (Registrant's telephone number, including area code) Securities Registered Pursuant to Section 12(g) of the Act: Common Stock, par value $.01 per share Preferred Stock Purchase Rights Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act). Yes x No o Approximate aggregate market value of common stock held by non-affiliates of the registrant as of August 2, 2002 $54.4 billion Number of shares of common stock outstanding as of April 21, 2003 2,568,285,953 Page 1 DELL COMPUTER CORP - 10-K Filing Date: 01/31/03 DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III of this Report, to the extent not set forth herein, is incorporated by reference from the registrant's definitive proxy statement relating to the annual meeting of stockholders to be held in July 2003, which definitive proxy statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates. ------------------------------------------------------------------------ ------------------------------------------------------------------------ ------------------------------------------------------------------------ TABLE OF CONTENTS PART I PART II REPORT OF INDEPENDENT ACCOUNTANTS CONSOLIDATED STATEMENT OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CASH FLOWS CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS PART III PART IV VALUATION AND QUALIFYING ACCOUNTS SIGNATURES EX-10.11 Form of Indemnification Agreement EX-21 Subsidiaries EX-23 Consent of PricewaterhouseCoopers LLP EX-99.1 Certification of CEO and CFO ------------------------------------------------------------------------ Table of Contents This Report contains forward-looking statements that are based on Dell's current expectations. Actual results in future periods may differ materially from those expressed or implied by those forward-looking statements because of a number of risks and uncertainties. For a discussion of factors affecting Dell's business and prospects, see "Item 1 -- Business -- Factors Affecting Dell's Business and Prospects." PART I ITEM 1 -- BUSINESS General Dell Computer Corporation, with annual revenue of $35.4 billion, is a premier provider of computing products and services. As result of its direct business model, Dell is the leading seller of computer systems worldwide and the number one seller in all customer segments in the United States. Dell was founded in 1984 by Michael Dell on a simple concept: by selling computer systems directly to customers, it could best understand customer needs and efficiently provide the most effective computing solutions to meet those needs. Dell's climb to market leadership is the result