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Table of Contents
SEAGATE TECHNOLOGY
CONSOLIDATED BALANCE SHEETS
See notes to consolidated financial statements.
57
ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
June 29,
June 30,
2007
2006
(In millions, except
share and per share
data)
ASSETS
Cash and cash equivalents
$
988
$
910
Short
-
term investments
156
823
Accounts receivable, net
1,383
1,445
Inventories
794
891
Deferred income taxes
196
48
Other current assets
284
216
Total Current Assets
3,801
4,333
Property, equipment and leasehold improvements, net
2,278
2,106
Goodwill
2,300
2,475
Other intangible assets, net
188
307
Deferred income taxes
574
33
Other assets, net
331
290
Total Assets
$
9,472
$
9,544
LIABILITIES
Accounts payable
$
1,301
$
1,692
Accrued employee compensation
157
385
Accrued restructuring
21
210
Accrued expenses
532
399
Accrued warranty
233
249
Accrued income taxes
75
72
Current portion of long
-
term debt
330
330
Total Current Liabilities
2,649
3,337
Accrued restructuring
21
23
Accrued warranty
197
196
Other non
-
current liabilities
135
136
Long
-
term debt, less current portion
1,733
640
Total Liabilities
4,735
4,332
Commitments and contingencies
SHAREHOLDERS
’
EQUITY
Preferred shares, $0.00001 par value per share — 100 million authorized; no shares issued or
outstanding
—
—
Common shares, $0.00001 par value per share — 1,250 million authorized; 534,981,463 issued
and outstanding at June 29, 2007 and 575,947,957 issued and outstanding at June 30, 2006
—
—
Additional paid
-
in capital
3,204
2,858
Deferred stock compensation
—
(1
)
Accumulated other comprehensive income (loss)
(4
)
(7
)
Retained earnings
1,537
2,362
Total Shareholders
’
Equity
4,737
5,212
Total Liabilities and Shareholders
’
Equity
$
9,472
$
9,544