Seagate 2002 Annual Report Download - page 66

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
SEAGATE TECHNOLOGY
CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share data)
See notes to consolidated and combined financial statements.
61
June 27,
2003
June 28,
2002
ASSETS (See Note 2)
Cash and cash equivalents
$
749
$
612
Short
-
term investments
445
231
Accounts receivable, net
611
614
Inventories
319
347
Other current assets
158
158
Total Current Assets
2,282
1,962
Property, equipment and leasehold improvements, net
1,111
1,022
Other assets, net
124
111
Total Assets (See Note 2)
$
3,517
$
3,095
LIABILITIES
Accounts payable
$
640
$
743
Affiliate accounts payable
11
12
Accrued employee compensation
217
190
Accrued deferred compensation
—
147
Accrued expenses
227
243
Accrued warranty
85
96
Accrued income taxes
179
170
Current portion of long
-
term debt
4
2
Total Current Liabilities
1,363
1,603
Accrued warranty
49
63
Other liabilities
44
39
Long
-
term debt, less current portion
745
749
Total Liabilities
2,201
2,454
Commitments and contingencies
SHAREHOLDERS
’
EQUITY
Preferred shares, $.00001 par value—100 million authorized; no shares issued or outstanding at June 27, 2003 and 450
million authorized; 400 million issued and outstanding at June 28, 2002, liquidation preference of $721
—
—
Common shares, $.00001 par value—1,250 million authorized; 438,870,267 issued and outstanding at June 27, 2003 and
600 million authorized; 2,320,127 issued and outstanding at June 28, 2002
—
—
Additional paid
-
in capital
640
598
Deferred stock compensation
(9
)
—
Retained earnings
685
43
Total Shareholders
’
Equity
1,316
641
Total Liabilities and Shareholders
’
Equity
$
3,517
$
3,095