Seagate 2009 Annual Report Download - page 106

Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The Company considers an active market to be one in which transactions for the asset or liability occur with sufficient frequency and
volume to provide pricing information on an ongoing basis, and views an inactive market as one in which there are few transactions for the asset
or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate the
Company's or the counterparty's non-performance risk is considered in determining the fair values of liabilities and assets, respectively.
Items Measured at Fair Value on a Recurring Basis
The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis, excluding accrued
interest components, as of July 2, 2010:
99
Fair Value Measurements at Reporting Date Using
(Dollars in millions)
Quoted
Prices in
Active
Markets for
Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Balance
Assets:
Money market funds
$
833
$
—
$
—
$
833
Commercial paper
—
1,231
—
1,231
U.S. treasuries and agency bonds
—
155
—
155
Certificates of deposit
—
25
—
25
Asset
-
backed securities
—
45
—
45
Corporate bonds
—
41
—
41
International treasuries
—
20
—
20
Municipal bonds
—
3
—
3
Total Cash Equivalents and Marketable
Securities
833
1,520
—
2,353
Restricted Cash and Investments:
Money market funds
76
—
—
76
Certificates of deposit
—
5
—
5
Auction rate securities
—
—
17
17
Derivative assets
—
7
—
7
Total Assets
$
909
$
1,532
$
17
$
2,458
Liabilities:
Derivative liabilities
$
—
$
(
1
)
$
—
$
(
1
)
Total Liabilities
$
—
$
(
1
)
$
—
$
(
1
)