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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table summarizes the Company’s operations by geographic area:
7. Equity
Fiscal Years Ended
July 1,
2005
July 2,
2004
June 27,
2003
(in millions)
Revenue from external customers (1):
United States
$
2,324
$
1,866
$
2,151
The Netherlands
1,767
1,558
1,562
Singapore
2,976
2,319
2,137
Other
486
481
636
Consolidated
$
7,553
$
6,224
$
6,486
Long
-
lived assets:
United States
$
553
$
574
$
504
Singapore
588
438
287
Thailand
243
142
121
Other
358
327
323
Consolidated
$
1,742
$
1,481
$
1,235
(1)
Revenue is attributed to countries based on the shipping location.
Share Capital
The Company’s authorized share capital is $13,500 and consists of 1,250,000,000 common shares, par value $0.00001, of which
476,765,764 shares were outstanding as of July 1, 2005 and 100,000,000 preferred shares, par value $0.00001, of which none were issued or
outstanding as of July 1, 2005.
Common shares —Holders of common shares are entitled to receive dividends when and as declared by the Company’
s board of directors
(the “Board of Directors”). Upon any liquidation, dissolution, or winding up of the Company, after required payments are made to holders of
preferred shares, any remaining assets of the Company will be distributed ratably to holders of the preferred and common shares. Holders of
shares are entitled to one vote per share on all matters upon which the common shares are entitled to vote, including the election of directors.
Preferred shares —The Company is authorized to issue up to a total of 100,000,000 shares of preferred stock in one or more series,
without stockholder approval. The Board of Directors is authorized to establish from time to time the number of shares to be included in each
series, and to fix the rights, preferences and privileges of the shares of each wholly unissued series and any of its qualifications, limitations or
restrictions. The Board of Directors can also increase or decrease the number of shares of a series, but not below the number of shares of that
series then outstanding, without any further vote or action by the stockholders.
The Board of Directors may authorize the issuance of preferred stock with voting or conversion rights that could harm the voting power
or other rights of the holders of the common stock. The issuance of preferred stock, while providing flexibility in connection with possible
acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of
the Company and might harm the market price of its common stock and the voting and other rights of the holders of common stock. As of July
1, 2005, there were no shares of preferred stock outstanding.
88