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Table of Contents
SEAGATE TECHNOLOGY PLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Property, Equipment and Leasehold Improvements, net
The components of property, equipment and leasehold improvements, net were as follows:
Depreciation expense, which includes amortization of leasehold improvements, was $748 million, $727 million and $739 million for fiscal
years 2014, 2013, and 2012, respectively. Interest on borrowings related to eligible capital expenditures is capitalized as part of the cost of the
qualified assets and amortized over the estimated useful lives of the assets. During fiscal years 2014, 2013, and 2012, the Company capitalized
interest of $7 million, $10 million and $4 million, respectively.
Accumulated Other Comprehensive Income (Loss) ("AOCI")
The components of AOCI, net of tax, were as follows:
75
(Dollars in millions)
Useful Life
in Years
June 27,
2014
June 28,
2013
Land and land improvements
$
45
$
44
Equipment
3
–
5
7,159
6,838
Buildings and leasehold improvements
Up to 48
1,452
1,401
Construction in progress
323
261
1
1
1
1
1
1
1
1
8,979
8,544
Less: accumulated depreciation and
amortization
(6,843
)
(6,275
)
1
1
1
1
1
1
1
1
$
2,136
$
2,269
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
(Dollars in millions)
Unrealized
Gains (Losses)
on Cash Flow
Hedges
Unrealized
Gains (Losses)
on Marketable
Securities
(a)
Unrealized
Gains (Losses)
on post-retirement
plans
Foreign
Currency
Translation
Adjustments
Total
Balance at June 29, 2012
$
—
$
(
1
)
$
(8
)
$
—
$
(
9
)
Other comprehensive
income (loss) before
reclassifications
—
21
(3
)
1
19
Amounts reclassified from
AOCI
—
(
23
)
—
—
(
23
)
Other comprehensive
income (loss)
—
(
2
)
(3
)
1
(4
)
1
1
1
1
1
1
1
1
1
1
1
1
Balance at June 28, 2013
—
(
3
)
(11
)
1
(13
)
Other comprehensive
income (loss) before
reclassifications
(1
)
1
8
9
Amounts reclassified from
AOCI
—
2
—
—
2
1
1
1
1
1
1
1
1
1
1
1
1
Other comprehensive
income (loss)
(1
)
3
8
11
Balance at June 27, 2014
$
(1
)
$
—
$
(
10
)
$
9
$
(2
)
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
(a) The cost of a security sold or the amount reclassified out of AOCI into earnings was determined using the specific
identification method.