Seagate 2004 Annual Report Download - page 104

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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Consolidating Statement of Operations
Fiscal Year Ended July 2, 2004
(in millions)
100
Seagate
Technology
Parent
Company
Guarantor
HDD
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
$
—
$
—
$
6,224
$
—
$
6,224
Cost of revenue
—
—
4,765
—
4,765
Product development
—
—
666
—
666
Marketing and administrative
2
—
288
—
290
Restructuring
—
—
59
—
59
Total operating expenses
2
—
5,778
—
5,780
Income (loss) from operations
(2
)
—
446
—
444
Interest income
—
4
17
(4
)
17
Interest expense
—
(
41
)
(8
)
4
(45
)
Equity in income of HDD
531
—
—
(
531
)
—
Equity in income of Non
-
Guarantors
—
568
—
(
568
)
—
Other, net
—
—
12
—
12
Other income (expense), net
531
531
21
(1,099
)
(16
)
Income before income taxes
529
531
467
(1,099
)
428
Benefit from income taxes
—
—
(
101
)
—
(
101
)
Net income
$
529
$
531
$
568
$
(1,099
)
$
529