Seagate 2004 Annual Report Download - page 77

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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
2. Balance Sheet Information
Financial Instruments
The following is a summary of the fair value of available-for-sale securities at July 1, 2005:
The following is a summary of the fair value of available-for-sale securities at July 2, 2004:
The fair value of the Company’s investment in debt securities, by remaining contractual maturity, is as follows:
Fair Value Disclosures —The carrying value of cash and cash equivalents approximates fair value. The fair values of short-term
investments, notes, marketable equity securities and debentures are estimated based on quoted market prices.
74
Amortized
Cost
Unrealized
Loss
Fair
Value
(in millions)
Money market mutual funds
$
58
$
—
$
58
U.S. government and agency obligations
539
(6
)
533
Auction rate preferred stock
434
—
434
Corporate securities
741
—
741
Total available
-
for
-
sale securities
$
1,772
$
(6
)
$
1,766
Included in cash and cash equivalents
$
676
Included in short
-
term investments
1,090
$
1,766
Amortized
Cost
Unrealized
Loss
Fair
Value
(in millions)
Money market mutual funds
$
60
$
—
$
60
U.S. government and agency obligations
401
(3
)
398
Auction rate preferred stock
304
—
304
Corporate securities
335
—
335
Total available
-
for
-
sale securities
$
1,100
$
(3
)
$
1,097
Included in cash and cash equivalents
$
336
Included in short
-
term investments
761
$
1,097
July 1,
2005
July 2,
2004
(in millions)
Due in less than 1 year
$
746
$
313
Due in 1 to 3 years
528
420
$
1,274
$
733