DELL puts
Paul,
yes, DELL does sell puts. Additionally, at January 29, 1999 and February 1, 1998, the Company had outstanding put obligations covering 33 million and 218 million shares, respectively, at an average exercise price of $11 and $10, respectively. The equity instruments are exercisable only at date of expiration, with the expiration dates ranging from the first quarter of fiscal year 2000 through the fourth quarter of fiscal year 2000. The outstanding put obligations at January 29, 1999 and February 1, 1998 permitted net-share settlement at the Company's option and, therefore, did not result in a put obligation liability on the accompanying consolidated statement of financial position.
You'll notice, though, that the quantity of puts outstanding have declined significantly. You'll have to ask Chuz or Geoff what that last sentence means in accounting terms. ;-)
DELLish, 3. |
