Seagate 2003 Annual Report Download - page 73

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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
2. Balance Sheet Information
Financial Instruments
The following is a summary of the fair value of available-for-sale securities at July 2, 2004:
The following is a summary of the fair value of available-for-sale securities at June 27, 2003:
The fair value of the Company’s investment in debt securities, by contractual maturity, is as follows:
Fair Value Disclosures —The carrying value of cash and cash equivalents approximates fair value. The fair values of short-term
investments, notes, marketable equity securities, debentures and interest rate swap agreements are estimated based on quoted market prices.
72
Amortized
Cost
Fair
Value
(in millions)
Money market mutual funds
$
60
$
60
U.S. government and agency obligations
401
398
Auction rate preferred stock
304
304
Corporate securities
335
335
Total available
-
for
-
sale securities
$
1,100
$
1,097
Included in cash and cash equivalents
$
336
Included in short
-
term investments
761
$
1,097
Amortized
Cost
Fair
Value
(in millions)
Money market mutual funds
$
234
$
234
U.S. government and agency obligations
171
171
Auction rate preferred stock
265
265
Corporate securities
459
459
Total available
-
for
-
sale securities
$
1,129
$
1,129
Included in cash and cash equivalents
$
684
Included in short
-
term investments
445
$
1,129
July 2,
2004
June 27,
2003
(in millions)
Due in less than 1 year
$
276
$
450
Due in 1 to 3 years
457
180
$
733
$
630