Seagate 2004 Annual Report Download - page 66

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Table of Contents
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
SEAGATE TECHNOLOGY
CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share data)
See notes to consolidated financial statements.
63
July 1,
2005
July 2,
2004
ASSETS (See Note 2)
Cash and cash equivalents
$
746
$
422
Short
-
term investments
1,090
761
Accounts receivable, net
1,094
690
Affiliate accounts receivable
—
1
Inventories
431
449
Other current assets
141
138
Total Current Assets
3,502
2,461
Property, equipment and leasehold improvements, net
1,529
1,301
Other assets, net
213
180
Total Assets (See Note 2)
$
5,244
$
3,942
LIABILITIES
Accounts payable
$
1,108
$
740
Accrued employee compensation
266
141
Accrued expenses
241
237
Accrued warranty
115
78
Accrued income taxes
46
48
Current portion of long
-
term debt
4
4
Total Current Liabilities
1,780
1,248
Accrued warranty
128
47
Other liabilities
59
53
Long
-
term debt, less current portion
736
739
Total Liabilities
2,703
2,087
Commitments and contingencies
SHAREHOLDERS’ EQUITY
Preferred shares, $0.00001 par value per share
—
100 million authorized; no shares issued or outstanding
—
—
Common shares, $0.00001 par value per share—1,250 million authorized; 476,765,764 issued and outstanding at July
1, 2005 and 459,595,663 issued and outstanding at July 2, 2004
—
—
Additional paid
-
in capital
632
650
Deferred stock compensation
(3
)
(6
)
Accumulated other comprehensive loss
(9
)
(3
)
Retained earnings
1,921
1,214
Total Shareholders
’
Equity
2,541
1,855
Total Liabilities and Shareholders
’
Equity
$
5,244
$
3,942