Seagate 2007 Annual Report Download - page 136
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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
—
(
Continued)
Consolidating Statement of Cash Flows
Fiscal Year Ended June 30, 2006
(In millions)
135
Seagate
Technology
Parent
Company
Guarantor
Maxtor
Subsidiary
Issuer
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
OPERATING ACTIVITIES
Net Income (Loss)
$
840
$
(143
)
$
1,950
$
(1,807
)
$
840
Adjustments to reconcile net income to net cash from
operating activities:
Depreciation and amortization
—
9
603
—
612
Stock
-
based compensation
—
15
75
—
90
Tax benefit from exercise of stock options
—
—
(
44
)
—
(
44
)
Equity in loss of Maxtor
143
—
—
(
143
)
—
Equity in income of Non
-
Guarantors
(983
)
57
(1,024
)
1,950
—
Other non
-
cash operating activities, net
—
—
35
—
35
Changes in operating assets and liabilities, net
(3
)
(395
)
322
—
(
76
)
Net cash (used in) provided by operating activities
(3
)
(457
)
1,917
—
1,457
INVESTING ACTIVITIES
Acquisition of property, equipment and leasehold
improvements
—
(
6
)
(1,002
)
—
(
1,008
)
Purchase of short
-
term investments
—
—
(
3,220
)
—
(
3,220
)
Maturities and sales of short
-
term investments
—
—
3,528
—
3,528
Net cash acquired from Maxtor
—
94
203
—
297
Other investing activities, net
—
(
2
)
(156
)
—
(
158
)
Net cash provided by (used in) investing activities
—
86
(647
)
—
(
561
)
FINANCING ACTIVITIES
Repayment of long
-
term debt
—
—
(
340
)
—
(
340
)
Proceeds from exercise of employee stock options
and employee stock purchase plans
118
—
—
—
118
Loan from Non
-
Guarantor to Parent
140
—
(
140
)
—
—
Loan from HDD to Non
-
Guarantor
—
400
(400
)
—
—
Distribution from HDD to Parent
310
—
(
310
)
—
—
Investment by Parent in Non
-
Guarantor
(20
)
—
20
—
—
Dividends to shareholders
(155
)
—
—
—
(
155
)
Tax benefit from exercise of stock options
—
—
44
—
44
Repurchases of common shares
(399
)
—
—
—
(
399
)
Net cash (used in) provided by financing activities
(6
)
400
(1,126
)
—
(
732
)
Increase (decrease) in cash and cash equivalents
(9
)
29
144
—
164
Cash and cash equivalents at the beginning of the
period
9
—
737
—
746
Cash and cash equivalents at the end of the Period
$
—
$
29
$
881
$
—
$
910