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Table of Contents
SEAGATE TECHNOLOGY
ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
CONSOLIDATED BALANCE SHEETS
(In millions, except share and per share data)
June 27,
2008
June 29,
2007
ASSETS
Current assets:
Cash and cash equivalents
$
990
$
988
Short
-
term investments
151
156
Accounts receivable, net
1,410
1,383
Inventories
945
794
Deferred income taxes
274
196
Other current assets
502
284
Total current assets
4,272
3,801
Property, equipment and leasehold improvements, net
2,464
2,278
Goodwill
2,352
2,300
Other intangible assets, net
111
188
Deferred income taxes
616
574
Other assets, net
305
331
Total Assets
$
10,120
$
9,472
LIABILITIES AND SHAREHOLDERS
’
EQUITY
Current liabilities:
Accounts payable
$
1,652
$
1,301
Accrued employee compensation
440
157
Accrued restructuring
80
21
Accrued expenses
519
532
Accrued warranty
226
233
Accrued income taxes
10
75
Current portion of long
-
term debt
360
330
Total current liabilities
3,287
2,649
Accrued restructuring
7
21
Accrued warranty
219
197
Other non
-
current liabilities
351
135
Long
-
term debt, less current portion
1,670
1,733
Total Liabilities
5,534
4,735
Commitments and contingencies (See Notes 8 and 9)
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; 485,127,434 issued and outstanding at
June 27, 2008 and 534,981,463 issued and outstanding at June 29, 2007
—
—
Additional paid
-
in capital
3,501
3,204
Accumulated other comprehensive income (loss)
(16
)
(4
)
Retained earnings
1,101
1,537
Total Shareholders
’
Equity
4,586
4,737
Total Liabilities and Shareholders
’
Equity
$
10,120
$
9,472
See notes to consolidated financial statements.
71