Seagate 2004 Annual Report Download - page 69
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Table of Contents
SEAGATE TECHNOLOGY
CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
For Fiscal Years Ended July 1, 2005, July 2, 2004 and June 27, 2003
(in millions)
See notes to consolidated financial statements.
66
Number
of
Preferred
Shares
Par
Value
of
Shares
Number
of
Common
Shares
Par
Value
of
Shares
Additional
Paid-in
Capital
Deferred
Stock
Compensation
Retained
Earnings
and
Accumulated
Other
Comprehensive
Loss
Total
Balance at June 28, 2002
400
$
—
2
$
—
$
598
$ —
$
43
$
641
Net income and comprehensive Income
642
642
Issuance of common shares related to employee stock options
13
29
29
Sale of Xiotech to New SAC in exchange for $32 note payable
distributed to shareholders
(1
)
(1
)
Dividends to shareholders
(288
)
(288
)
Issuance of common shares in initial public offering
24
270
270
Conversion of preferred shares into common shares upon initial
public offering
(400
)
400
Compensation expense related to New SAC
11
11
Deferred stock compensation
11
(11
)
—
Amortization of deferred stock compensation
2
2
Compensation expense related to executive terminations
10
10
Balance at June 27, 2003
—
—
439
—
640
(9
)
685
1,316
Comprehensive income:
Unrealized loss on marketable securities
(3
)
(3
)
Net income
529
529
Comprehensive income
526
Issuance of common shares related to employee stock options
and employee stock purchase plan
21
96
96
Dividends to shareholders
(90
)
(90
)
Compensation expense related to New SAC
2
2
Amortization of deferred stock compensation
3
3
Compensation expense related to executive terminations
2
2
Balance at July 2, 2004
—
—
460
—
650
(6
)
1,211
1,855
Comprehensive income:
Unrealized loss on marketable securities
(3
)
(3
)
Unrealized loss on cash flow hedges
(3
)
(3
)
Net income
707
707
Comprehensive income
701
Issuance of common shares related to employee stock options
and employee stock purchase plan
17
90
90
Dividends to shareholders
(122
)
(122
)
Tax benefit from stock options
15
15
Amortization of deferred stock compensation
(1
)
3
2
Balance at July 1, 2005
—
$
—
477
$
—
$
632
$
(3
)
$
1,912
$
2,541