Seagate 2004 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 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)
Accounts Receivable
Activity in the allowance for doubtful accounts is as follows:
Inventories
July 1,
2005
July 2,
2004
(in millions)
Accounts Receivable:
Accounts receivable
$
1,126
$
720
Allowance for doubtful accounts
(32
)
(30
)
$
1,094
$
690
Balance
at
Beginning
of Period
Additions
Charged
to Costs
and
Expenses
Deductions
(1)
Balance
at End
of
Period
(in millions)
Seagate Technology
Fiscal year ended July 1, 2005
$
30
$
4
$
(2
)
$
32
Fiscal year ended July 2, 2004
$
32
$
—
$
(
2
)
$
30
Fiscal year ended June 27, 2003
$
29
$
5
$
(2
)
$
32
(1)
Uncollectible accounts written off, net of recoveries.
Inventories are summarized below:
Property, equipment and leasehold improvements
July 1,
2005
July 2,
2004
(in millions)
Inventories:
Components
$
118
$
91
Work
-
in
-
process
70
39
Finished goods
243
319
$
431
$
449
Property, equipment and leasehold improvements consisted of the following:
Useful Life in
Years
July 1,
2005
July 2,
2004
(in millions)
Land
$
22
$
23
Equipment
3
–
4
2,419
1,874
Building and leasehold improvements
Life of lease
–
30
476
360
Construction in progress
266
283
3,183
2,540
Less accumulated depreciation and amortization
(1,654
)
(1,239
)