Seagate 2010 Annual Report Download - page 106

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Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis, excluding accrued interest
components, using significant unobservable inputs (Level 3) for the fiscal year ended July 2, 2011:
Items Measured at Fair Value on a Non-Recurring Basis
The Company enters into certain strategic investments for the promotion of business and strategic objectives. Strategic investments are
included in the accompanying balance sheets in Other assets, net, are recorded at cost and are periodically analyzed to determine whether or not
there are indicators of impairment. The carrying value of the Company's strategic investments at July 1, 2011 and July 2, 2010 totaled
$27 million and $28 million, respectively.
99
(Dollars in millions)
Auction
Rate
Securities
Balance at June 27, 2008
$
28
Total net gains (losses) (realized and unrealized):
Realized gains (losses)
(1)
(2
)
Unrealized gains (losses)
(2)
—
Sales and settlements
(8
)
Balance at July 3, 2009
18
Total net gains (losses) (realized and unrealized):
Realized gains (losses)
(1)
(1
)
Unrealized gains (losses)
(2)
—
Sales and settlements
—
Balance at July 2, 2010
17
Total net gains (losses) (realized and unrealized):
Realized gains (losses)
(1)
—
Unrealized gains (losses)
(2)
—
Sales and settlements
(1
)
Balance at July 1, 2011
$
16
(1) Realized gains (losses) on auction rate securities are recorded in Other, net in the Consolidated Statements
of Operations.
(2) Unrealized gains (losses) on auction rate securities are recorded as a separate component of Total
comprehensive income (loss) in Accumulated other comprehensive income (loss), which is a component of
Shareholders' Equity.
Fair Value Measurements 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:
Equity investment
$
—
$
—
$
2
$
2