Seagate 2006 Annual Report Download - page 38

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Table of Contents
We list in the table below selected historical consolidated and combined financial information relating to us for
the periods indicated.
Year Ended June 29, 2007
Includes a $359 million tax benefit resulting from a favorable adjustment to the valuation allowance related to
our deferred tax assets, $101 million of stock-
based compensation expense as a result of our adoption of Statement of
Financial Accounting Standards (“SFAS”) No. 123 (Revised 2004), Share-Based Payment (“SFAS No. 123(R)”), a
$40 million increase in the provision for doubtful accounts receivable related to the termination of our distributor
relationship with eSys Technologies Pte. Ltd. and its related affiliate entities (“eSys”), a $29 million restructuring
charge, a $19 million charge related to the redemption of our $400 million 8% Senior Notes previously due 2009
(“8% Notes”) and charges related to our acquisition of Maxtor which include $42 million in integration and retention
costs, net of related tax effects, $150 million in amortization of acquired intangibles, $27 million in stock-based
compensation charges related to Maxtor options assumed and nonvested shares exchanged and the settlement of
$18 million in customer compensatory claims related to legacy Maxtor products.
Year Ended June 30, 2006
Includes $74 million of stock-based compensation expense as a result of our adoption of SFAS No. 123(R),
Maxtor’
s operating losses from May 19, 2006 through June 30, 2006 and charges related to our acquisition of Maxtor
which include $38 million in integration and retention costs, net of related tax effects, $24 million in amortization of
acquired intangibles and $16 million in stock-based compensation charges.
35
ITEM 6.
SELECTED FINANCIAL DATA
• We have derived our historical financial information as of and for the fiscal years ended June 29, 2007,
June 30, 2006 and July 1, 2005 from our audited consolidated financial statements and related notes included
elsewhere in this report.
• We have derived our historical financial information as of and for the fiscal years ended July 2, 2004 and
June 27, 2003 from our audited consolidated financial statements and related notes not included in this report.
Fiscal Years Ended
June 29,
June 30,
July 1,
July 2,
June 27,
2007
2006(1)
2005
2004
2003
(In millions, except per share data)
Revenue
$
11,360
$
9,206
$
7,553
$
6,224
$
6,486
Gross margin
2,185
2,137
1,673
1,459
1,727
Income from operations
614
874
722
444
691
Net income
913
840
707
529
641
Basic net income per share
1.64
1.70
1.51
1.17
1.53
Diluted net income per share
1.56
1.60
1.41
1.06
1.36
Total assets
9,472
9,544
5,244
3,942
3,517
Total debt
2,063
970
740
743
749
Shareholders
’
equity
$
4,737
$
5,212
$
2,541
$
1,855
$
1,316
Number of shares used in per share computations:
Basic
558
495
468
452
418
Diluted
587
524
502
498
470
Cash dividends declared per share
$
0.38
$
0.32
$
0.26
$
0.20
$
0.71
(1)
Seagate Technology
’
s results include Maxtor
’
s results from May 19, 2006 through June 30, 2006.