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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Consolidating Balance Sheet
July 2, 2004
(in millions)
95
Seagate
Technology
Parent
Company
Guarantor
HDD
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
Cash and cash equivalents
$
14
$
—
$
408
$
—
$
422
Short
-
term investments
—
—
761
—
761
Accounts receivable, net
—
—
690
—
690
Affiliate accounts receivable
—
—
1
—
1
Intercompany receivable
—
—
4
(4
)
—
Inventories
—
—
449
—
449
Intercompany loan receivable
—
292
—
(
292
)
—
Other current assets
—
—
138
—
138
Total Current Assets
14
292
2,451
(296
)
2,461
Property, equipment and leasehold improvements, net
—
—
1,301
—
1,301
Equity investment in HDD
1,842
—
—
(
1,842
)
—
Equity investments in Non
-
Guarantors
—
2,195
—
(
2,195
)
—
Other assets
—
9
171
—
180
Total Assets
$
1,856
$
2,496
$
3,923
$
(4,333
)
$
3,942
Accounts payable
$
—
$
—
$
740
$
—
$
740
Intercompany payable
—
4
—
(
4
)
—
Accrued employee compensation
—
—
141
—
141
Accrued expenses
—
6
309
—
315
Accrued income taxes
—
—
48
—
48
Intercompany loan payable
—
—
292
(292
)
—
Current portion of long
-
term debt
—
2
2
—
4
Total Current Liabilities
—
12
1,532
(296
)
1,248
Other liabilities
1
—
99
—
100
Long
-
term debt, less current portion
—
642
97
—
739
Total Liabilities
1
654
1,728
(296
)
2,087
Shareholders
’
Equity
1,855
1,842
2,195
(4,037
)
1,855
Total Liabilities and Shareholders
’
Equity
$
1,856
$
2,496
$
3,923
$
(4,333
)
$
3,942