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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
reportable segment. See Note 10, Sale of Xiotech Corporation. The operating results for Xiotech are included in the Company’s consolidated
results of operations through the date that Xiotech was sold to New SAC in November 2002 and are included in the “other” category below for
fiscal year 2003. The Company has identified its Chief Executive Officer, or CEO, as the Chief Operating Decision Maker. Gross profit from
operations is defined as revenue less cost of revenue.
In each of fiscal years 2005, 2004 and 2003, Hewlett-
Packard accounted for 18%, 19% and 18% of consolidated revenue, respectively. In
fiscal year 2005, Dell accounted for 12% of consolidated revenue. No other customer accounted for more than 10% of consolidated revenues in
any year presented.
Long-lived assets consist of property, equipment and leasehold improvements, capital leases, equity investments, goodwill and other
intangibles, and other non-current assets as recorded by the Company’s operations in each area.
The following tables summarize the Company’s operations by business segment:
On a separate basis, in conformity with accounting principles generally accepted in the United States, Xiotech had a net loss of $9 million
in fiscal year 2003.
87
Fiscal Years Ended
July 1,
2005
July 2,
2004
June 27,
2003
(in millions)
Revenue and Gross Profit
Revenue:
Disc Drives
$
7,553
$
6,224
$
6,464
Other
—
—
24
Eliminations
—
—
(
2
)
Consolidated
$
7,553
$
6,224
$
6,486
Gross Profit:
Disc Drives
$
1,673
$
1,459
$
1,715
Other
—
—
12
Consolidated
$
1,673
$
1,459
$
1,727
Total Assets
Disc Drives
$
5,244
$
3,942
Eliminations
—
—
Consolidated
$
5,244
$
3,942