Seagate 2004 Annual Report Download - page 107

Download and view the complete annual report

Please find page 107 of the 2004 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Consolidating Statement of Cash Flows
Fiscal Year Ended June 27, 2003
(in millions)
103
Seagate
Technology
Parent
Company
Guarantor
HDD
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
Net Income
$
641
$
651
$
664
$
(1,315
)
$
641
Adjustments to reconcile net income to net cash from
operating activities:
Depreciation and amortization
—
—
443
—
443
Equity in income of HDD
(651
)
—
—
651
—
Equity in income (loss) of Non
-
Guarantors
9
(673
)
—
664
—
Other non
-
cash operating activities, net
—
—
19
—
19
Changes in operating assets and liabilities, net
18
(148
)
(91
)
—
(
221
)
Net cash provided by (used in) operating activities
17
(170
)
1,035
—
882
Investing Activities
Acquisition of property, equipment and leasehold
improvements
—
—
(
516
)
—
(
516
)
Purchase of short
-
term investments
—
—
(
3,408
)
—
(
3,408
)
Maturities and sales of short
-
term investments
—
—
3,194
—
3,194
Sale of Xiotech, net of repayment of intercompany
debt
—
—
8
—
8
Sale of Reynosa facility
—
—
28
—
28
Other investing activities, net
—
—
(
60
)
—
(
60
)
Net cash used in investing activities
—
—
(
754
)
—
(
754
)
Financing Activities
Repayment of long
-
term debt
—
(
1
)
(1
)
—
(
2
)
Issuance of common shares (includes employee stock
plans)
299
—
—
—
299
Loan from HDD to Non
-
Guarantor
—
(
310
)
310
—
—
Loan repayment from Non
-
Guarantor to HDD
—
452
(452
)
—
—
Distribution from HDD to Parent
360
(360
)
—
—
—
Investment by Parent in HDD
(343
)
343
—
—
—
Distribution to shareholders
(288
)
—
—
—
(
288
)
Net cash provided by (used in) financing activities
28
124
(143
)
—
9
Increase (decrease) in cash and cash equivalents
45
(46
)
138
—
137
Cash and cash equivalents at the beginning of the
period
—
46
566
—
612
Cash and cash equivalents at the end of the Period
$
45
$
—
$
704
$
—
$
749