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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Consolidating Statement of Cash Flows
Fiscal Year Ended July 1, 2005
(in millions)
99
Seagate
Technology
Parent
Company
Guarantor
HDD
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
Ne Net Income
$
707
$
707
$
741
$
(1,448
)
$
707
Adjustments to reconcile net income to net cash
from operating activities:
Depreciation and amortization
—
—
466
—
466
Equity in income of HDD
(707
)
—
—
707
—
Equity in income of Non
-
Guarantors
—
(
741
)
—
741
—
Other non
-
cash operating activities, net
—
—
19
—
19
Changes in operating assets and liabilities, net
—
(
7
)
243
—
236
Net cash provided by (used in) operating activities
—
(
41
)
1,469
—
1,428
Investing Activities
Acquisition of property, equipment and leasehold
improvements
—
—
(
691
)
—
(
691
)
Purchase of short
-
term investments
—
—
(
4,796
)
—
(
4,796
)
Maturities and sales of short
-
term investments
—
—
4,465
—
4,465
Other investing activities, net
—
2
(49
)
—
(
47
)
Net cash provided by ( used in) investing activities
—
2
(1,071
)
—
(
1,069
)
Financing Activities
Repayment of long
-
term debt
—
(
2
)
(1
)
—
(
3
)
Issuance of common shares for employee stock
plans
90
—
—
—
90
Loan from HDD to Non
-
Guarantor
—
(
1
)
1
—
—
Loan repayment from Non
-
Guarantor to HDD
—
70
(70
)
—
—
Distribution from HDD to Parent
37
(37
)
—
—
—
Investment by Parent in HDD
(10
)
10
—
—
—
Dividends to shareholders
(122
)
—
—
—
(
122
)
Net cash provided by (used in) financing activities
(5
)
40
(70
)
—
(
35
)
Increase (decrease) in cash and cash equivalents
(5
)
—
329
—
324
Cash and cash equivalents at the beginning of the
period
14
—
408
—
422
Cash and cash equivalents at the end of the Period
$
9
$
—
$
737
$
—
$
746