Seagate 2012 Annual Report Download - page 59
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Table of Contents
The carrying value of our long-term debt as of June 28, 2013 and June 29, 2012 was $2.8 billion and $2.9 billion, respectively. The table
below presents the principal amounts of our outstanding long-term debt:
During fiscal year 2013, we repurchased approximately 54 million of our ordinary shares. See "Item 5. Market for Registrant's Shares,
Related Shareholder Matters and Issuer Purchases of Equity Securities-Repurchases of Our Equity Securities."
For fiscal year 2014, we expect capital investments to remain within our long-term targeted range of 6-8% of revenue. We require
substantial amounts of cash to fund scheduled payments of principal and interest on our indebtedness, future capital expenditures and any
increased working capital requirements. We will continue to evaluate and manage the retirement and replacement of existing debt and associated
obligations, including evaluating the issuance of new debt securities, exchanging existing debt securities for other debt securities and retiring
debt pursuant to privately negotiated transactions, open market purchases or otherwise. In addition, we may selectively pursue strategic alliances,
acquisitions and investments, which may require additional capital.
Contractual Obligations and Commitments
Our contractual cash obligations and commitments as of June 28, 2013, have been summarized in the table below:
55
As of
(Dollars in millions)
June 28,
2013
June 29,
2012
Change
10.0% Senior Secured Second-Priority Notes due
May 2014
$
—
$
319
$
(319
)
6.8% Senior Notes due October 2016
335
600
(265
)
7.75% Senior Notes due December 2018
238
750
(512
)
6.875% Senior Notes due May 2020
600
600
—
7.00% Senior Notes due November 2021
600
600
—
4.75% Senior Notes due June 2023
1,000
—
1,000
Other
4
—
4
Total
$
2,777
$
2,869
$
(92
)
Fiscal Year(s)
(Dollars in millions)
Total
2014
2015
-
2016
2017
-
2018
Thereafter
Contractual Cash Obligations:
Long
-
term debt
$
2,777
$
3
$
1
$
335
$
2,438
Interest payments on debt
1,317
173
365
288
491
Capital expenditures
284
168
116
—
—
Operating leases
(1)
165
31
35
18
81
Purchase obligations
(2)
1,470
1,286
184
—
—
Other funding requirements
30
30
—
—
—
Subtotal
6,043
1,691
701
641
3,010
Commitments:
Letters of credit or bank guarantees
31
28
3
—
—
Total
$
6,074
$
1,719
$
704
$
641
$
3,010
(1) Includes total future minimum rent expense under non-cancelable leases for both occupied and vacated facilities (rent
expense is shown net of sublease income).