Western Digital 2008 Annual Report Download - page 55

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WESTERN DIGITAL CORPORATION
CONSOLIDATED BALANCE SHEETS
(in millions)
June 27,
2008
June 29,
2007
ASSETS
Current assets:
Cash and cash equivalents ................................................ $1,104 $ 700
Short-term investments .................................................. 3 207
Accounts receivable, net ................................................. 1,010 697
Inventories. .......................................................... 456 259
Advances to suppliers ................................................... 36 63
Other current assets .................................................... 122 103
Total current assets ................................................... 2,731 2,029
Property and equipment, net................................................ 1,668 741
Goodwill.............................................................. 116 —
Other intangible assets, net................................................. 81 4
Other non-current assets ................................................... 279 127
Total assets ........................................................ $4,875 $2,901
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ...................................................... $1,181 $ 882
Accrued expenses ...................................................... 266 163
Accrued warranty ...................................................... 90 73
Current portion of long-term debt .......................................... 27 12
Total current liabilities ................................................ 1,564 1,130
Long-term debt ......................................................... 482 10
Other liabilities ......................................................... 133 45
Total liabilities ...................................................... 2,179 1,185
Commitments and contingencies (Notes 3 and 4)
Shareholders’ equity:
Preferred stock, $.01 par value; authorized — 5 shares; outstanding — None ............ — —
Common stock, $.01 par value; authorized — 450 shares; outstanding — 225 shares ...... 2 2
Additional paid-in capital ................................................ 906 811
Accumulated comprehensive loss ........................................... (12) (1)
Retained earnings...................................................... 1,822 955
Treasury stock — common shares at cost; 1 and 3 shares, respectively ................. (22) (51)
Total shareholders’ equity .............................................. 2,696 1,716
Total liabilities and shareholders’ equity .................................... $4,875 $2,901
The accompanying notes are an integral part of these consolidated financial statements.
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