Item 7.01 Regulation FD Disclosure.
VMware, Inc. today made available recast financial statements from prior periods
consisting of selected financial information from the first quarter of fiscal
2019 through the third quarter of fiscal 2020 on its investor relations webpage
at ir.vmware.com.
Pursuant to generally accepted accounting principles ("GAAP"), the recast
financial statements combine VMware's historical financial results with those of
Pivotal Software, Inc. ("Pivotal"), which VMware acquired on December 30, 2019.
As Pivotal is treated by GAAP as an acquisition of an entity under common
control, VMware's financial statements for prior periods are required to be
recast as if the entities were combined for all periods presented.
Additionally, effective with the fourth quarter of fiscal year 2020, VMware will
present a new revenue line item in its earnings reports entitled "subscription
and SaaS revenue" that is also included in the recast financial statements.
With the addition of this new revenue line item, reported revenue consists of
the following three components: license, subscription and SaaS, and services.
Previously, subscription and SaaS revenue was referred to as "hybrid cloud
subscription and SaaS" revenue and was allocated between license and services
revenue. The new subscription and SaaS revenue line item includes VMware's
revenue from Pivotal and other offerings that are billed on a subscription
basis, as well as revenue from SaaS offerings such as Workspace ONE, Carbon
Black, and VMware Cloud on AWS, and revenue from VCPP cloud offerings that are
billed to customers on a consumption basis.
Reconciliations of non-GAAP financial measures to VMware's financial results as
determined in accordance with GAAP are included in Exhibit 99.1. For a
description of these non-GAAP financial measures, including the reasons
management uses each measure, please see the section of the tables in Exhibit
99.1 titled "About Non-GAAP Financial Measures."
VMware, Pivotal, Workspace ONE, Carbon Black, and VMware Cloud are registered
trademarks or trademarks of VMware, Inc. or its subsidiaries in the United
States and other jurisdictions.
The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be
deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933 or the Exchange Act,
regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 VMware, Inc. Recast Financial Statements From Prior Periods
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