Seagate 2014 Annual Report Download - page 59
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AsofJuly3,2015,wewereincompliancewithallofthecovenantsunderourdebtagreements.Basedonourcurrentoutlook,weexpecttobeincompliance
withthecovenantsofourdebtagreementsoverthenext12months.
Thecarryingvalueofourlong-termdebtasofJuly3,2015andJune27,2014was$4.2billionand$3.9billion,respectively.Thetablebelowpresentsthe
principalamountsofouroutstandinglong-termdebt:
Fromtimetotimewemayrepurchaseanyofouroutstandingordinarysharesthroughprivate,openmarket,tenderoffers,brokerassistedpurchasesorother
means.Duringfiscalyear2015,werepurchasedapproximately19millionofourordinaryshares.See"Item5.MarketforRegistrant'sCommonEquity,Related
StockholderMattersandIssuerPurchasesofEquitySecurities-RepurchasesofOurEquitySecurities."AsofJuly3,2015,$2.9billionremainedavailablefor
repurchaseunderourexistingrepurchaseauthorizationlimit.AllrepurchasesareeffectedasredemptionsinaccordancewiththeCompany'sArticlesof
Association.
Forfiscalyear2016,weexpectcapitalexpenditurestobeatorbelowourlong-termtargetedrangeof6%to8%ofrevenue.Werequiresubstantialamountsof
cashtofundscheduledpaymentsofprincipalandinterestonourindebtedness,futurecapitalexpendituresandanyincreasedworkingcapitalrequirements.Wewill
continuetoevaluateandmanagetheretirementandreplacementofexistingdebtandassociatedobligations,includingevaluatingtheissuanceofnewdebt
securities,exchangingexistingdebtsecuritiesforotherdebtsecuritiesandretiringdebtpursuanttoprivatelynegotiatedtransactions,openmarketpurchases,tender
offersorothermeansorotherwise.Inaddition,wemayselectivelypursuestrategicalliances,acquisitionsandinvestments,whichmayrequireadditionalcapital.
56
Asof
(Dollarsinmillions)
July3,
2015
June27,
2014 Change
6.8%SeniorNotesdueOctober2016 $ — $ 335 $ (335)
3.75%SeniorNotesdueNovember2018 800 800 —
6.875%SeniorNotesdueMay2020 — 534 (534)
7.00%SeniorNotesdueNovember2021 158 251 (93)
4.75%SeniorNotesdueJune2023 1,000 1,000 —
4.75%SeniorNotesdueJanuary2025 1,000 1,000 —
4.875%SeniorNotesDue2027 700 — 700
5.75%SeniorNotesDue2034 500 — 500
Total $ 4,158 $ 3,920 $ 238