Seagate 2003 Annual Report Download - page 63

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Table of Contents
SEAGATE TECHNOLOGY
ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share data)
See notes to consolidated financial statements.
62
July 2,
2004
June 27,
2003
ASSETS (See Note 2)
Cash and cash equivalents
$
422
$
749
Short
-
term investments
761
445
Accounts receivable, net
690
611
Affiliate accounts receivable
1
—
Inventories
449
319
Other current assets
138
158
Total Current Assets
2,461
2,282
Property, equipment and leasehold improvements, net
1,301
1,111
Other assets, net
180
124
Total Assets (See Note 2)
$
3,942
$
3,517
LIABILITIES
Accounts payable
$
740
$
640
Affiliate accounts payable
—
11
Accrued employee compensation
141
217
Accrued expenses
237
227
Accrued warranty
78
85
Accrued income taxes
48
179
Current portion of long
-
term debt
4
4
Total Current Liabilities
1,248
1,363
Accrued warranty
47
49
Other liabilities
53
44
Long
-
term debt, less current portion
739
745
Total Liabilities
2,087
2,201
Commitments and contingencies
SHAREHOLDERS’ EQUITY
Preferred shares, $0.00001 par value per share
—
100 million authorized; no shares issued or outstanding
—
—
Common shares, $0.00001 par value per share—1,250 million authorized; 459,595,663 issued and outstanding at July
2, 2004 and 438,870,267 issued and outstanding at June 27, 2003
—
—
Additional paid
-
in capital
650
640
Deferred stock compensation
(6
)
(9
)
Accumulated other comprehensive income (loss)
(3
)
—
Retained earnings
1,214
685
Total Shareholders
’
Equity
1,855
1,316
Total Liabilities and Shareholders
’
Equity
$
3,942
$
3,517