Dell & Hp Financial Statements

Essay text:

Go to www.sec.gov and use Edgar Search and look for 10-K for 2003 Fiscal Year ending around January 31 Fiscal Year ending around January 31 2003 2002 2001 2000 1999 Year-end common stock price $23.86 $27.49 $26.12 $38.44 $50.00 Year-end average shares outstanding (in millions) 2,584 2,602 2,582 2,536 2,531 Tax rate 30% 28% 30% 32% 30% After-tax cost of capital 13.1% 13.1% 13.1% 13.1% 13.1% Balance Sheets (in millions of dollars) 2003 2002 2001 2000 1999 Assets Cash and marketable securities $4,638 $3,914 $5,435 $4,132 $2,649 Accounts receivable $2,586 $2,269 $2,424 $2,608 $2,094 Inventories $306 $278 $400 $391 $273 Other current assets $1,394 $1,416 $1,467 $550 $791 Total current assets $8,924 $7,877 $9,726 $7,681 $5,807 Net plant and equipment $913 $826 $996 $765 $523 Other non-current assets $5,633 $4,832 $2,948 $3,025 $547 Total assets $15,470 $13,535 $13,670 $11,471 $6,877 Liabilities and equity Accounts payable $5,989 $5,075 $4,286 $3,538 $2,397 Notes payable $0 $0 $0 $0 $0 Accruals and other $2,944 $2,444 $2,492 $1,654 $1,298 Total current liabilities $8,933 $7,519 $6,778 $5,192 $3,695 Long-term debt $506 $520 $509 $508 $512 Other $1,158 $802 $761 $463 $349 Total liabilities $10,597 $8,841 $8,048 $6,163 $4,556 Preferred Stock $0 $0 $0 $0 $0 Common stock $1,479 $3,330 $4,783 $4,046 $1,715 Retained earnings $3,394 $1,364 $839 $1,260 $606 Total common equity $4,873 $4,694 $5,622 $5,306 $2,321 Total liabilities and equity $15,470 $13,535 $13,670 $11,469 $6,877 Income Statements (in millions of dollars) 2003 2002 2001 2000 1999 Net sales $35,404 $31,168 $31,888 $25,265 $18,243 Operating costs except depreciation $32,149 $29,169 $28,466 $22,624 $16,060 Earnings before interest, taxes, deprn, and amortization (EBITDA) $3,255 $1,999 $3,422 $2,641 $2,183 Depreciation and amortization $211 $239 $240 $156 $103 Earnings before interest and taxes (EBIT) $3,044 $1,760 $3,182 $2,485 $2,080 Less interest $17 $29 $47 $34 $26 Earnings before taxes (EBT) $3,027 $1,731 $3,135 $2,451 $2,054 Taxes $905 $485 $958 $785 $624 Net Income before preferred dividends $2,122 $1,246 $2,177 $1,666 $1,430 Preferred dividends $- $- $- $- $- Net Income available to common stockholders $2,122 $1,246 $2,177 $1,666 $1,430 Common dividends $0 $0 $0 $0 $0