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Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Through the second quarter of fiscal year 2014, the Company's assets designated to pay benefits under the plan were held by a rabbi trust.
The assets and liabilities of a rabbi trust were accounted for as assets and liabilities of the Company. As of June 28, 2013, the assets held in the
rabbi trust were approximately $79 million and were included in Restricted cash and investments in the Consolidated Balance Sheets. The
deferred compensation obligation related to the rabbi trust included in Accrued expenses on the accompanying Consolidated Balance Sheets was
approximately $87 million as of June 28, 2013.
12. Earnings Per Share
The following table sets forth the computation of basic and diluted net income per share:
The following potential shares were excluded from the computation of diluted net income per share as their effect would have been anti-
dilutive:
13. Business Segment and Geographic Information
The Company has concluded that its manufacture and distribution of disk drives constitutes one reporting segment. The Company's
manufacturing operations are based on technology platforms that are used to produce various disk drive products that serve multiple disk drive
applications and markets. The Company's main technology platforms are primarily focused around areal density of media and read/write head
technologies. In addition, the Company also invests in certain other technology platforms including motors, servo formatting read/write
channels, solid state and other technologies. The Company has determined that its Chief Executive Officer is the Company's chief operating
decision maker (CODM) as he is responsible for reviewing and approving investments in the Company's technology platforms and
manufacturing infrastructure.
In fiscal years 2014, 2013 and 2012, Dell Inc. accounted for approximately 13%, 13% and 15% of consolidated revenue, respectively, while
Hewlett-Packard Company accounted for approximately 13%,
105
Fiscal Years Ended
(In millions, except per share data)
June 27,
2014
June 28,
2013
June 29,
2012
Numerator:
Net income attributable to Seagate Technology plc
$
1,570
$
1,838
$
2,862
1
1
1
1
1
1
1
1
Number of shares used in per share calculations:
Total shares for purposes of calculating basic net income per
share attributable to Seagate Technology plc
337
370
426
Weighted
-
average effect of dilutive securities:
Employee equity award plans
10
12
15
1
1
1
1
1
1
1
1
Total shares for purpose of calculating diluted net income per
share attributable to Seagate Technology plc
347
382
441
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Net income per share attributable to Seagate Technology plc
shareholders:
Basic
$
4.66
$
4.97
$
6.72
Diluted
$
4.52
$
4.81
$
6.49
Fiscal Years Ended
(In millions)
June 27,
2014
June 28,
2013
June 29,
2012
Employee equity award plans
—
—