Seagate 2004 Annual Report Download - page 105

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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Consolidating Statement of Cash Flows
Fiscal Year Ended July 2, 2004
(in millions)
101
Seagate
Technology
Parent
Company
Guarantor
HDD
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
Net Income
$
529
$
531
$
568
$
(1,099
)
$
529
Adjustments to reconcile net income to net cash
from operating activities:
Depreciation and amortization
—
—
422
—
422
VERITAS tax indemnification
—
—
(
125
)
—
(
125
)
Equity in income of HDD
(531
)
—
—
531
—
Equity in income (loss) of Non
-
Guarantors
—
(
568
)
—
568
—
Other non
-
cash operating activities, net
—
—
17
—
17
Changes in operating assets and liabilities, net
(14
)
(1
)
(193
)
—
(
208
)
Net cash provided by (used in) operating activities
(16
)
(38
)
689
—
635
Investing Activities
Acquisition of property, equipment and leasehold
improvements
—
—
(
605
)
—
(
605
)
Purchase of short
-
term investments
—
—
(
4,143
)
—
(
4,143
)
Maturities and sales of short
-
term investments
—
—
3,822
—
3,822
Other investing activities, net
—
3
(39
)
—
(
36
)
Net cash used in investing activities
—
3
(965
)
—
(
962
)
Financing Activities
Repayment of long
-
term debt
—
(
4
)
(2
)
—
(
6
)
Issuance of common shares for employee stock
plans
96
—
—
—
96
Loan from HDD to Non
-
Guarantor
—
(
13
)
13
—
—
Loan repayment from Non
-
Guarantor to HDD
—
31
(31
)
—
—
Investment by Parent in HDD
(21
)
21
—
—
—
Distribution to shareholders
(90
)
—
—
—
(
90
)
Net cash provided by (used in) financing activities
(15
)
35
(20
)
—
—
Decrease in cash and cash equivalents
(31
)
—
(
296
)
—
(
327
)
Cash and cash equivalents at the beginning of the
period
45
—
704
—
749
Cash and cash equivalents at the end of the Period
$
14
$
—
$
408
$
—
$
422