Seagate 2002 Annual Report Download - page 71

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SEAGATE TECHNOLOGY AND ITS PREDECESSOR
CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
For Fiscal Years Ended June 27, 2003 and June 28, 2002 and
For the Period from November 23, 2000 through June 29, 2001
(in millions)
Number
of
Preferred
Shares
Shares
Amount
Number
of
Common
Shares
Shares
Amount
Additional
Paid-in
Capital
Deferred
Stock
Compensation
Retained
Earnings
(Accumulated
Deficit)
and Accumulated
Comprehensive
Income (Loss)
Total
Balance at November 23, 2000
$
—
$
—
$
—
$
—
$
—
$
—
Investment by New SAC and
issuance of stock
400
751
751
Adjustment for pushdown of
purchase price allocation from
New SAC
7
7
Net and comprehensive loss
(110
)
(110
)
Amortization of deferred
compensation expense related
to New SAC restricted share
plans
5
5
Balance at June 29, 2001
400
—
—
—
763
—
(
110
)
653
Distributions to shareholders
(200
)
(200
)
Push down adjustment by New
SAC related to FAS 109
14
14
Proceeds from exercise of
employee stock options
2
4
4
Comprehensive income (loss):
Unrealized loss on interest
rate swap agreement
(4
)
(4
)
Recognition of unrealized
loss on interest rate
swap agreement upon
extinguishment of
former senior secured
credit facilities
4
4
Net income
153
153
Comprehensive income
153
Amortization of deferred
compensation expense related
to New SAC restricted share
plans
17
17
Balance at June 28, 2002
400
—
2
—
598
—
43
641
Net income and comprehensive
Income
642
642
Proceeds from exercises of
employee stock options
13
29
29
Sale of XIOtech to New SAC in
exchange for $32 note payable
distributed to shareholders
(1
)
(1
)
Distributions to shareholders
(288
)
(288
)
Issuance of common shares in
initial public offering
24
270
270
Conversion of preferred shares
into common shares upon
initial public offering
(400
)
400
Amortization of deferred
compensation related to New
SAC restricted share plans
11
11
Deferred compensation
11
(11
)
—