Seagate 2013 Annual Report Download - page 60
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Table of Contents
The carrying value of our long-term debt as of June 27, 2014 and June 28, 2013 was $3.9 billion and $2.8 billion, respectively. The table
below presents the principal amounts of our outstanding long-term debt:
During fiscal year 2014, we repurchased approximately 41 million of our ordinary shares. See "Item 5. Market for Registrant's Common
Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities-Repurchases of Our Equity Securities."
On May 29, 2014, we entered into a definitive asset purchase agreement under which we will acquire the assets of LSI's Accelerated
Solutions Division ("ASD") and Flash Components Division ("FCD") from Avago for $450 million in cash. The transaction is expected to close
in the first quarter of fiscal year 2015, subject to the satisfaction of customary closing conditions and the receipt of certain regulatory approvals,
including those required by the Hart-Scott-Rodino Antitrust Improvements Act.
For fiscal year 2015, we expect capital expenditures to be at or below 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.
56
As of
(Dollars in millions)
June 27,
2014
June 28,
2013
Change
6.8% Senior Notes due October 2016
$
335
$
335
$
—
3.75% Senior Notes due November 2018
800
—
800
7.75% Senior Notes due December 2018
—
238
(238
)
6.875% Senior Notes due May 2020
534
600
(66
)
7.00% Senior Notes due November 2021
251
600
(349
)
4.75% Senior Notes due June 2023
1,000
1,000
—
4.75% Senior Notes due January 2025
1,000
—
1,000
Other
—
4
(4
)
1
1
1
1
1
1
1
1
Total
$
3,920
$
2,777
$
1,143
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1