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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Tech97 who wrote (26787)	12/7/1997 4:33:00 PM
From: hpeace	Respond to of 61433

here's the dell 10k.. does the referenced calls on their buy back show up in the 1.4 billion of the securities???? ASSETS NOVEMBER 2, FEBRUARY 2, 1997 1997 ----------- ----------- Current assets: Cash...................................................... $ 222 $ 115 Marketable securities..................................... 1,393 1,237 Accounts receivable, net.................................. 1,350 903 Inventories............................................... 301 251 Other..................................................... 341 241 ------ ------ Total current assets.............................. 3,607 2,747 Property, plant and equipment, net.......................... 301 235 Other....................................................... 13 11 ------ ------ $3,921 $2,993 ====== ====== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable.......................................... $1,488 $1,040 Accrued and other......................................... 891 618 ------ ------ Total current liabilities......................... 2,379 1,658 Deferred revenue............................................ 235 219 Other....................................................... 49 31 ------ ------ Total liabilities................................. 2,663 1,908 ------ ------ Put options................................................. 51 279 ------ ------ Stockholders' equity: Preferred stock and capital in excess of $.01 par value; shares authorized: 5; shares issued and outstanding: none................................................... -- -- Common stock and capital in excess of $.01 par value; shares issued and outstanding: 326 and 346, respectively........................................... 627 195 Retained earnings......................................... 621 647 Other..................................................... (41) (36) ------ ------ Total stockholders' equity........................ 1,207 806 ------ ------ $3,921 $2,993 ====== ====== Csshflows>>> Cash flows from investing activities: Marketable securities: Purchases.............................................. (8,649) (6,564) Maturities and sales................................... 8,492 6,060 Capital expenditures...................................... (121) (82) ------- ------- Net cash used in investing activities............. (278) (586) ------- ------- Cash flows generated from operating activities for the first nine months of fiscal 1998 were $1 billion and represented the Company's primary source of cash during the quarter. Operating cash flows benefited from the Company's strong net income performance and continued focus on asset management. During the first nine months of fiscal 1998, the Company repurchased 28 million shares of common stock for $710 million. The Company is currently authorized to repurchase up to 57 million additional shares of its common stock and anticipates that such repurchases will constitute a significant use of future cash resources. At November 2, 1997, the Company held equity instrument arrangements that entitle the Company to purchase 27 million additional shares of common stock for an average cost of $74 per share at various times through the third quarter of fiscal 1999. The Company's potential repurchase obligations under put options has decreased from $279 million at February 2, 1997 to $51 million at November 2, 1997, because a significant number of the options that did not contain net share settlement terms have expired or have been exercised. During the second quarter of fiscal 1998, the Company entered into a $250 million five-year revolving credit facility. This facility replaced a $100 million 364-day revolving credit facility that expired on June 9, 1997 and a $150 million three-year revolving credit facility that was scheduled to expire on June 9, 1999. At November 2, 1997, this new facility was unused. During the first half of fiscal 1998, the Company entered into a $225 million master lease facility, which provides for the ability to lease certain real property, buildings and equipment to be constructed or acquired. Management believes that the Company will have sufficient resources available to meet its cash requirements for the foreseeable future, including working capital requirements, planned capital expenditures and stock repurchases.